ZuluTrade Review – Who Is ZuluTrade And Why It Matters
With the company’s recent acquisition, we wanted to present all the new facts about ZuluTrade broker and its services. After the company was briefly blacklisted by the Cyprus regulator and has been through a long journey since it was established in 2008, there’s a lot to say. And we will show it all in our ZuluTrade review.
|Blacklisted as a Scam by:
|Depends on the brokerage
|Available – BTC, ETH, LTC
|Types of Assets:
|Forex, commodities, indices, shares, cryptocurrencies
|Depends on the brokerage
|Free Demo Account:
|Accepts US clients:
|US traders are accepted
Is ZuluTrade Regulated? – Why Does It Matter?
ZuluTrade is not a typical Forex broker. Instead, it’s a social trading platform where traders can engage and copy trades from other successful investors. As such, it’s not an investment platform per se; rather, it’s offered by other brokers as a part of the investment opportunity.
The company was owned by Greek Triple-A Experts Investment Services SA until December 2021, when it was acquired by the Canadian company Finvasia Group, along with another Greek subsidiary, AAAfx. However, they still seem to hold an HCMC license without obtaining a Canadian one.
Does the Broker Have a Tier 1 Trading License?
ZuluTrade regulation is still with HCMC, but they are still listed with their old owner. Since the company has a new owner, it should obtain a Canadian license. We’re unsure whether they haven’t done so because there was no time or there is another reason, but for now, ZuluTrade seems to be in an unregulated limbo.
Regulatory Warning Against ZuluTrade Fraud
Oddly enough, we found a regulatory warning from Canada regarding ZuluTrade.
Official Warning Issued by BCSC – Evidence of Fraud
We found several ZuluTrade complaints about the broker providing binary options services in Canada, where such service is strictly forbidden. That was why BCSC issued an official warning and informed citizens that binary options are illegal, unlike in the US, and the broker cannot provide such.
Where Is ZuluTrade Broker Active?
ZuluTrade Forex and CFD copy trading services are offered in numerous countries, including:
- South Africa
ZuluTrade Trading Reviews – What Traders Are Saying
When reading ZuluTrade reviews, we’re getting mixed signals. Some claim the broker has changed their lives, while others have been defrauded. Mainly, it depends on which broker they have been dealing with. Unfortunately, the broker ZuluTrade is not paying too much attention to the companies they cooperate with. While they work with regulated brokers, such as AvaTrade and FXCM, they’re also involved with different offshore unregulated schemes. That’s how clients are defrauded.
What Trading Platforms Are Available? – Trading Software
There are two options for the ZuluTrade trading platform – ZuluTrader and MT4.
ZuluTrade Copy Trading Platform
ZuluTrade has its own platform for copy trading, named ZuluTrader. It’s similar to many WebTraders you’ve seen, with the ability to copy trades. You can choose one of the investors you’re following and copy their trades directly into your account. Trading conditions depend on the brokerage you’re assigned, so you may be entitled to unregulated leverage and high spread. As we mentioned, ZuluTrade is not choosing its partners carefully.
MetaTrader 4 Platform
Besides ZuluTrader, clients can connect their MT4 to the ZuluTrade system too. Once you join, you will have precisely the same options as with ZuluTrader, to follow and copy others’ trades.
iOS and Android Trading
ZuluTrade login is enabled through Android and iOS devices as well.
Assets You Can Trade With ZuluTrade Broker
ZuluTrade investors have access to 5 major markets, including:
- Currency pairs
The offer may be limited if your chosen broker doesn’t support some of the above-listed assets.
ZuluTrade Automated Trading Scam
Our greatest concern is the ZuluTrade automated trading system. Many brokers will claim to have automated software to trade for you, but you can quickly become a victim when you can’t control your trades. Again, you should connect your account to ZuluTrade software and allow it to open and close the trades for you. With this company’s regulation status being questioned and a regulatory warning against it, we believe it’s not the brightest idea to lose control over your funds.
What Can ZuluTrade Scam Victims Do?
If you fall victim to the ZuluTrade scam, it’s time to notify us. We will be happy to assist and help you file a dispute for a chargeback. Don’t let anyone steal your funds and vanish. Fight and get a refund before it’s too late!
Contact us via online chat to book a FREE consultation with our experts and we will give you an honest evaluation of your case.
Can I Trade Cryptocurrencies And CFDs With ZuluTrade Broker?
Yes, you can trade crypto and CFDs with a ZuluTrade broker.
Does ZuluTrade Give a Deposit Bonus When Opening an Account?
ZuluTrade doesn’t give any bonuses, but the broker you’re assigned with might offer it.
Is ZuluTrade a MetaTrader 4 Forex Broker?
ZuluTrade enables you to connect your MT4 to its system and copy trades.
Are My Funds Safe With ZuluTrade?
With ZuluTrade being warned by a Canadian regulator and without a proper license, your funds are not safe.