Zulutrade

One automated trading provider that has been experiencing rapid, sustained growth among proponents of auto trading is New York-based ZuluTrade.

They were founded in 2006 by Leon Yohai and Kostas Eleftheriou to create what could be classified as what is produced when a social networking site is combined with foreign exchange currency market (FOREX) trading.

ZuluTrade is free to traders. They function in the role of referring broker and are compensated by rebates from participating forex brokers.

The main idea behind ZuluTrade is to match Forex signal providers with traders who want to invest in Forex, but don’t have the time or temperament to do their own trading.

Signal providers are ranked by performance and also classified according to markets and trading styles.

There are currently over 40 Forex brokers partnering with ZuluTrade, some well-known and reputable big names included in the list.

Traders can evaluate different signal providers and monitor that provider’s performance in a demo account. One caveat of which to be aware is that the results observed under this scenario are entirely hypothetical, because the simulated accounts are functioning under the assumption that unlimited trading funds are available, so it’s possible for large draw downs, larger than almost any trading account could tolerate, to occur. This is perhaps the only negative aspect of Zulu Trade, but this fact is generally applicable to any and all simulated trading exercises.

One nice feature of ZuluTrade is that it is server-based, so a trader’s main trading computer does not even have to be turned on.

Another is the ability to go on Zulu Trader’s website and overlay one currency pair price stream over another on a chart, which is ideal for getting an inkling of what prices might do in either positively correlated or negatively correlated currency pairs.

Traders can subscribe to one signal provider, or they can use multiple signal providers to employ a trading strategy best suited to various market conditions.

Traders also retain the choice of accepting or rejecting a given signal, but for the most part, Zulu Trade is designed to automatically convert the advice of a Forex signal provider into trades without human intervention. This takes full advantage of the superior speed of order execution taking place in nano seconds.

ZuluTrade is anonymous, that is, signal providers do not have access to trader account information. Different signal providers charge different rates based on experience and results, so make sure to understand these thoroughly before choosing a signal provider. Zulu Trade is very conscientious about determining signal provider scruples, but in the end, it is the traders’ personal responsibility to guarantee that they are getting that for which they paid.

Zulu Trade has mobile apps for both the iPad and Android devices, in keeping with the trend toward liberating forex traders from the necessity of being chained to a PC in order to monitor forex price data.

An especially nice feature for new traders is a trade size calculator. A trader inputs the amount of money he or she is willing to risk and a calculator determines the number of units to be bought or sold according to the selected currency pair.

Zulu Trade has continued to experience widespread adoption among traders who can’t devote the time to the analysis and decision-making involved with manual, discretionary trading, or don’t well tolerate the physical and emotional demands that go hand-in-hand with live Forex trading.

Some traders that do engage in discretionary trading will use ZuluTrade’s automated signals to trade a separate account and compare the results in a man versus machine environment.

Others will pit Zulu Trade against other auto trading systems and still others will find it the only thing they need other than a broker.

Contacts

Website: www.zulutrade.com