ZuluTrade Alternative – Competitors
Here’re the best ZuluTrade alternative social trading networks (i.e. their main competitors). For each alternative we also mention the key differences between their networks & platform and ZuluTrade. Please note that for most of the alternatives mentioned here we’ve written first-hand experience reviews. For convenience we’ve also summarised and compared the features of all leading social trading networks in an easy to use table.
eToro is both the broker and social trading network (so no use of a 3rd party broker). This is one of the reasons why the slippage on eToro is almost 0 pips on most trades (though spreads are not as competitive as some other brokers). Another key difference with ZuluTrade is the risk management.
With eToro the trades of a trader you copy are proportionally executed on the amount you assign to that trader (though you can still increase leverage if you want to be more risky). Because the traders have to use the eToro interface to enter their trades you’ll also find no automated robot traders like you might on ZuluTrade. Traders also all send signals from a live account. The way the data is presented and made available is however not as transparent as with ZuluTrade and accounts can only be opened in $ USD. In terms of number of customers they’re probably they main competitors at the moment.
Ayondo is one of the fastest growing social trading networks in Europe and an alternative to try versus ZuluTrade. The choice of traders is much smaller but their most popular ‘Top Traders’ have performed well for us at low risk. They also use their own broker (ayondo markets) and trades of the traders you follow are executed proportionally in your account. Again, no automated traders here, and unlike ZuluTrade or other networks ayondo awards their best traders both for their performance AND for their risk management approach.
Traders can send signals from demo accounts though quite a few risk their own money and trade from a real money account. Most traders from our experience are also day traders, which means you’re not left with long open positions causing potential high drawdowns. Demo account is available and live accounts at this ZuluTrade competitor can be started from 100 Euros, dollars or pound sterling.
If you’re using ZuluTrade’s binary option trading platform or if you considering copying successful option traders then Copyop is an alternative worth checking out. Copyop is the social trading platform from the world’s largest binary options broker, AnyOption. This means you have a large choice of top binary traders to consider.
Please note that the historical trade information provided on CopyOp for each trader is fairly basic, especially compared to the detail provided by ZuluTrade. On the other hand, you may prefer simplicity. And in terms of binary options trading pretty much the only important factor is the trader’s hit %, i.e. what’s the rate of successful option trades they date. The history goes back to 120 trades.
If you copy an option from another trader you get 60% profit they were successful and 15% return if they weren’t. These returns are slightly less than if you’d trade yourself though if you have the time, you can just watch the traders you and manually copy their trades.
You can copy as many traders as you want, though Copyop limits the number of copiers per trader to 100. Live accounts can be opened in USD, EUR or GBP from $50 (or equivalent), though note that the minimum copy amount per option is $25. They also have an Android and iOS app which lets you trade or copy on the go. You can try Copyop totally free with their demo.
If you like to combine trading yourself with copying other traders, i.e. what I tend to call “trade socially”, then Tradeo is a great alternative to consider for ZuluTrade. Their Social WebTrader platform gives you direct access to the latest market news and market sentiments, and allows you to interact real-time with other traders in their community. You can leave messages for everyone or communicate privately and discuss trades with others directly on the charts.
If you find other traders who’s performance you like, then you can “follow” them as well. Please note though that automatic trade copying isn’t possible. You can however copy the trade signals from the traders you follow from your ‘social’ feed.
Because Tradeo hasn’t been around as long as ZuluTrade, the choice of traders for you to follow is much smaller. The trader search functionality is also not as advanced and detailed as ZuluTrade’s making it a bit more difficult to find good traders to follow.
Tradeo acts as the broker too and they’re an STP (Straight Through Processing) broker. This means they don’t take positions against you and the slippage you’ll see will also be very low. There’s a fully functioning demo available which allows you to try their WebTrader platform with $50,000 of virtual money. Real money account can be opened in USD, EUR, GBP or JPY and the minimum deposit is $250.
Tradency Mirror Trader
This financial technology provider’s platform is used by a number of brokers to allow investors to copy signals from other traders. They allow traders to send signals from account on different trading platforms and brokers (fairly similar to ZuluTrade). Almost all traders at this competitor run automated systems (i.e. trading robots) and may require some manual interventions at times, though some systems have a trading history of over 2 years and maximum drawdown on single open positions is capped at 300 pips. However unlike with ZuluTrade, this alternative platform doesn’t offer any social interaction capabilities. So no ratings, forum or comments.
Another alternative to ZuluTrade, though much smaller in terms of amount of traders you can copy and in terms of features offered. Again your account has to be opened with one of their 3rd party brokers. Risk management is pretty similar as with ZuluTrade in the sense that you assign how much you want to risk for each separate signal you copy. You find both automatic/manual and demo/live account traders on MyDigiTrade though currently most are sending signals from a demo account while trading automatic (i.e. pure robots).
Over time more and more ZuluTrade competitors and alternatives will appear. We’re actually looking at a few more smaller and newer once at the moment as well, though some of them have only a handful of traders or systems to follow and copy at the moment. This page will be kept up to date though, and more and more reviews will be added on our site as well once we tried them (with real money). In the meantime you can try most of these alternative platforms with a demo account as well.