Zulutrade, anyone use this service?

All the brokers from ZULU’s list trade against their clients. But the one I was using was FOREX.COM which is a subsidiary of GAIN, a pretty big company I’d say so I don’t think it was their fault. I still think it was ZULU’s job to close a trade that they have opened. Trading means opening and closing a trade, doesn’t mean just opening or just closing. But, who knows, maybe ZULUTRADE just hates FOREX clients. Which broker do you recommend Nick?

I’ve heard that a lot of times now. Can somebody explain this in some more detail or at least point me in the right direction?

I’m with FXDD and there’s a pip commission with every trade. Looks to me it wouldn’t matter to them whether I win or loose? They get the commission anyway?

Thank you for your reply, fxfx50.

It cleared some questions, but I’m still unclear about FXDD Malta: From my research on the internet they seem to be a DD, however they still charge commission? They say on their website the counterparty is FXDD NY?

With regards to Zulutrade they worked good for me so far. I’m only aware of one trade in nine months (~3500 trades) that didn’t close.

Very good post fx50

To clear thing more for those that still dont understand.

When i choose to trade FOREX and select a broker, whether this is with zulu or decide to trade manually. Everytime you open a trade the following happens:
-you get a commission charge, usually its the spread of the currency being traded, in case of zulutrade, its also a 1pip/trade commission AND also an extra 1pip/trade that the BROKER charges you in order to connect you to zulutrade. Its all in the LOD you sign. Some brokers widen their spreads.

-lets say you (or your provider) choose to SELL EUR/USD at xx price. This means that you actually BET against your broker that EUR will fall. So if this actually happens, you will win money from your broker. On the opposite, if the EUR rises and you loose, this money will go to your broker. thats why FOREX is a form of betting actually :wink:

For brokers with zulutrade i cannot recommend one specific. What i can do is tell you which to AVOID:
-I would avoid AVA, Activ, Alpari and maybe FXCM.
About the new brokers AAAFx and MIG, i have to do a bit of research before i know for sure.

A small tip for US residents.
If you want to open an account with a non-US broker with zulutrade, you can go at zulutrade.co.uk , from there you can have access to all of their brokers :smiley:
I hope with this link i dont break any forum rules. If i do feel free to remove it.

Wilcox, is not FXDD the one who charges the commissions, ZULU does.
Nicklang, I was just thinking of opening an account with Alpari but then I remembered you said you would avoid them. Could you please tell me why?
And, has anyone tried FXOpen as a broker?

Thanks

If you do some research around the web, the most complaints about disconnections are about alpari and ava…

Wilcox, is not FXDD the one who charges the commissions, ZULU does.

Actually they both charge you! :smiley:
zulu charges a 1pip/trade commission, but also FXDD if you look in their LOD, you will see that there is a point that you authorize them to either increase the spread or charge you extra commission (for fxdd in dont know which of the 2 is)

FXopen i know that they are a serious broker, but dont have personal experience…

They do. It shows on the statement for my manual trades too.

Don’t mean to contradict with anyone. I just have a real FXDD account and they are not charging me anything, they only get the spread. And the FOREX account I had associated with ZULU was being charged a commission for every trade, yes manual trades placed by me too. And I asked my broker why and they said that was ZULU’s commission for every trade. After I closed my ZULU account and transferred the money on a normal account with the same broker, no extra commission has been charged any more.
Anyway, if they make you at least +10 pips/trade, giving away 1pip as commission is a really good deal.

You’re right Nick, Alpari does disconnect a lot :frowning:
Thanks for the info, and good luck trading.

No worries. I got a live account with them too since Aug 09. Not associated with ZT in the beginning, the commission was there from the start. Makes me think I should talk to them? :wink:

This AAAFX broker says that thay dont charge you to connect with zulu, neither zulu gets any commission, they send me promotional email,
But i would like to know if anyone else has a personal experience with this broker?

Systemsfxlive has had a very impressive performance since mid May! Very good trades and up about 600pips! I think he is worth being No1 atm…

About AAAFx, ive read some comments on other forums, mainly that you actually dont pay any extra commission, no personal experience though…

I like the new slippage chart! Very useful, it says a lot about each broker and the providers. Think its a very good addition :slight_smile:

Its indeed a very nice addition. Notice how low the slippage is if you use the same broker as the provider…

Hmm, no replies for a months in here…seems everyone is on vacation :smiley:
Two providers that got my attention the past weeks and you might want to test them
fly on the wall and circle-q
zulu needs more decent providers…

i hope you don’t get commission for promoting these guys…

Hell no! Nothing to do with any signal provider!
I have a live account with zulu though and if i make something, i make by using their service. I just like to test providers to see if anything is worth. Thats why i say “test” and not “put on your live” :smiley:
Ive seen dozens of times providers go from top to zero in a few days…

if there’s anyone CONSISTENTLY profitable there I’d be very surprised.

To win constantly, i think this cant happen, not only in zulu, but generally in the forex market…even a very experienced trader cant predict how the market will move. Dont expect to make a living out of forex
Personally i trade forex and also use zulutrade for fun, have some extra capital that I invest and if i win, thats good, if I loose, no biggie :D:D

I tested the signal provider known as “Fly On The Wall” in my ZuluTrade demo account, and he earned me about $4000 during my 1 month trial, and never had one loss.

So I signed up with AAAFX (since it is directly integrated with ZuluTrade, and Fly On The Wall also uses AAAFX), and I requested that my main MT4 account have micro lot capability so I could test Fly On The Wall in my live account by only using 10 cents per pip. (You can deposit funds directly into your AAAFX/ZuluTrade account via Allied Wallet).

As of 8/28/10 “Fly On The Wall” has 100% winning trades, 21% drawdown, and trades only GBP/JPY.

I started my live account 2 days ago (8/26/10), and he has done 2 trades in my live account so far, and both were winners. I even went with $1 per pip on the second trade, but my live account is only funded with $1500 so it might be too risky to choose $10 per pip which was used in my demo account and produced $4000 during my trial month with Fly On The Wall’s signals.

(Note: Some signal providers will open several trades at the same time, so you want to be sure to choose the correct settings in your ZuluTrade account so you don’t have too many trades triggered at the same time in your account by your signal provider otherwise you will risk a margin call, and lose money, if too many trades are opened and you have small capital. Keep in mind that some signal providers have thousands if not millions of dollers and can afford to have multiple trades opened, but can wipe out your account if you only have a few hundred or a few thousand doller deposit.)

Anyway my two test trades in my live account started and ended at exactly the same times as Fly On The Wall with no slippage. I don’t know if it always works out this way? I tried another signal provider but there was a 15 - 20 second delay before his trade signal reached my account. I am sticking with Fly On The Wall for now.

Note: Fly On The Wall has a dozen or so different usernames within the Zulutrade system, and he seems to focus exclusively on GBP/JPY, and has billions of dollers (or is it millions). His “Fly On The Wall” account is safer for those with small capital. His worse - pips is -179 in his Fly On The Wall account, but it wasn’t a loss. It just dipped down that low before continuing on to a winning trade in the + pips range. In another account he had perfect 100% wins until March 2010 when GBP/JPY did somethiing not its nrom and triggered his stop loss at -500 pips. It is good to research through the trading history of the providers you choose.