Become a ZuluTrade Trader / Signal Provider
If you want to make some extra money as a trader then becoming a “Trader” on ZuluTrade is very easy. You can send a trade signal from a live “real money” broker account or from a demo account. I.e. you don’t actually need to trade with any money yourself and there’s no cost for becoming a Trader. You can either use a live or demo account with any one of their partner brokers. They are having more than 40 brokers and they are still expanding their network.
All your trades are displayed in your ZuluTrade profile straight away. The people who have chosen to follow you as Trader (“Investors”) will have your trades automatically executed in their broker account.
As Trader, you can trade in all major currency pairs as well as CFDs (main commodities and indices) and Cryptos. We have been informed that they are planning to introduce stocks in the short future. Please note though that some brokers may not support commodities, indices or Cryptos and hence followers on those brokers will not be able to copy your trades in CFDs. However since ZuluTrade introduced CFDs on their platform in October 2015, most investors can now copy and trade these instruments as well. Each trader also has to create their own profile with a picture and strategy description, both of which are reviewed by ZuluTrade before they put this information live. You can also keep your investors updated with regular messages from your own social page.
There are two Traders’ compensation schemes according to the account type of real investors (profit sharing and classic accounts).
Traders get compensated on a monthly basis according to the profits they generate on their Real Investors under Profit Sharing Account Model
Every time you generate a profitable monthly PnL to a Profit-Sharing Investor, you will be credited a 20% Performance Fee. This Fee will only apply for the amount above High Water Mark (“HWM”). HWM is the maximum profit made by the Trader and it is calculated on the 1st calendar day of each month since the Investor added the Trader to his portfolio.
For each profitable monthly PnL, the Trader will be compensated based on a 50% Payment-Reserve model. More specifically:
50% of the Performance Fee charged is being credited in the Trader’s account
The same amount (50%) is requested from Reserve bucket. The amount that will be released and credited is limited to the reserved amount generated from previous periods.
50% of the Performance Fee charged is added to the Trader’s Reserve Bucket for next periods.
Each Trader holds one Reserve Bucket for all his Profit Sharing Investors. The Reserve amount is updated on the 1st calendar day of each month based on the profits/losses generated on the Real Investor accounts from the Trader during the previous month.
About the classic model, you get paid 0.5 pips per lot, for each closed trade executed in a real investor account under classic account model. Pip cost varies according to the currency pair traded, the type of account of the Investor etc. If you are a US trader, ZuluTrade compensates you by a variable monthly membership fee., except if you are NFA registered as an Introducing Broker (IB), then you receive half pip per lot for every trade generated in a real account. Due to local restrictions, Japanese residents are eligible to register for a Trader account in ZuluTrade, however, no revenues will be generated for their trading activity.
You can get paid once your ZuluTrade account reaches $100. Payments will be processed in approximately 60 days. If you are live Trader, you may select receiving your total outstanding commissions automatically in your Live Broker account at the 1st business day of each month by using AutoPay Service. You can check who Broker participating in this Program.
How can use send your signals?
You can use ZuluTrade’s own trading station and scripts or the MT4:
ZuluTrade+ Trading Station – is highly technical trading station user interface with technical charts (Candlesticks, OHLC, Lines, etc), a large variety of Indicators (Trend, Oscillators, Volumes, Bill Williams, Volatility, etc), custom lines/text/objects and much more.
ZuluScripts – allow you to create, compile and deploy your own experts (robots)and run them directly in your ZuluTrade Trader account.
MT4: If you like, you can also send signals from an MT4 terminal. This is a trading platform which you can install on your pc and which allows you to create and run Expert Advisors (EAs). These are automated programs which can open and close trades based on pre-set rules and the real-time price feeds. I.e. when you become a trader on ZuluTrade you can run automated trading systems and strategies.
ZuluTrade does also impose some restrictions though when you trade with a demo trader account:
- Trades to create market or pending orders should have a minimum time interval of 5 seconds between. I.e. you cannot open 2 or more trades at the same time.
- Within a 24-hour interval, there is an upper limit of 100 trades (open-market and pending – orders) you can send, as well as a limit of 5000 update signals (e.g. changing stop levels). When you trade and send signals to ZuluTrade from a real trading account (meaning you trade with real money) these limits do not apply.
- Maximum overall number allowed of open – market and pending – orders are limited to 100; any further signals will not be broadcast to Investors.
When you trade and send signals to ZuluTrade from a real trading account (meaning you trade with real money) these limits do not apply.
To protect your followers, each Signal Provider is also required to comply with a minimum set of ZuluTrade guidelines aimed at reducing risk. These include limiting your overall drawdown and not allowing losses of 700 pips or more on a single position (for major forex pairs). Also, Traders should responsive at ZuluTrade and their Investors and inform their Investors proactively for any trading behavior changes.
Due to EU legislation, EU investors can follow only the top 1000 traders complying to the following factors:
The Maximum Drawdown of the Trader’s account should not have exceeded 30% of the total
The minimum trading time is set to 12 weeks.
The profit per trade should not be less than 3 pips.
Some Tips for when you join ZuluTrade as a Trader:
- Use a photo of yourself as a profile picture – this creates trust.
- When describing your strategy, be clear and complete.
- Trade with a real money account (if possible) or at least follow yourself from a real broker account. This information is displayed in your ZuluTrade profile and creates trust. You will gain many more followers and respect because you trade with your own money.
- Make sure you adhere to the criteria for EU investors because you want to make sure your profile is visible to customers from European countries to increase your earnings potential.
- Because of the inevitable slippage between your trade execution prices and those of your investors, scalping strategies are not recommended. Try to gain more than 3 pips avg per trade.
- Trading during the news can also create massively different results between yours and your follower’s accounts because some broker widen the spread significantly during news events.
- Communicate regularly with your investors and let them know when you change your strategy.
- Answer investors’ questions in your feed if they’re relevant. However, don’t get bogged down in replying to negative follower comments after you post some negative trades. There are always people who expect you to win 100% of your trades.
- Reply to the dedicated department for Traders of ZuluTrade as they will support and help you increase your potential.
- If you running your strategy in a supported broker, don’t forget to import your history because this will give you an edge.
- If you are running multiple but different systems then you are able to run them and boost your revenues and network.
- Don’t mix all the categories of instruments (forex – indices – commodities and cryptos) in one portfolio but better run them in separated Trader accounts. Offer flexibility to your investors.