Review of Signal Provider Statistics available on ZuluTrade
ZuluTrade Review: Signal Provider Statictics and Profile
When you’ve found a signal provider you like, you can click on them to get their detailed performance and profile. Please note that the screenprints used in this section are from the UK version of the ZuluTrade interface. Because of regulations the interface is slightly different in some countries. E.g. in the US, profit is displayed as ROI and not pips, while the trader comments are replaced with a risk disclosure message. Please also note that some images on this page are from the ‘classic view’ of the ZuluTrade website, though the information displayed is still the same on the newer interface view.
The top part of the screen (SEE IMAGE) displays the “signal provider” name, average rating by followers (in number of stars), the amount of “real live” money following them, the broker they use (as image) and any comments the provider leaves. This is the place where the signal provider interacts with the followers. Some ZuluTrade providers are very active in keeping their followers up-to-date on their trading strategy (and any changes) while others will not leave comments for weeks or months.
The statistics on the left hand site provide a quick overview of the historical performance. It displays total profit and trades to date, % winning trades, average pip profit per trade, average trade time, maximum drawdown, maximum open trades (and moving your “mouse over” this number will break this down as per last 3, 6 or 12 months), worst and best trade, number of followers, current ranking, the number of weeks on ZuluTrade social trading and the minimum equity in $ suggested to follow this provider with 1 micro lot.
The right hand side displays the historical performance graphs, defaulted to the profit over time. Using the tabs, more screens can be displayed.
This includes the “signal provider” profile (SEE IMAGE). This is a description entered by the provider which describes their strategy. Please note that while this profile is approved by ZuluTrade, the content is not vetted. I.e. it is the word of the provider only. If they say they’ve been trading for 10 years professionally, it’s their word and their word alone. Their strategy description also doesn’t necessarily describe the actual strategy and providers don’t always update their profile when they amend their strategy.
In the middle of the main screen (under all the performance statistic). You’ll find the follower rating and feedback screen for the ZuluTrade “signal provider”, which adds to the “social trading” experience. Only “live followers” can leave comments and rate providers. Comments are only very loosely moderated.
Providers on ZuluTrade can be rated on 3 factors (from 1 to 5):
- overall, did you gain some money from this provider
- does their strategy description match the strategy followed in your account
- would you recommend this “signal provider” to other ZuluTrade users
Comments can be left as well and while these are somewhat moderated, they’re mainly moderated for use of foul language and defamatory remarks. There’s a wide variety of comments and while some are very constructive and useful, some are very reactionary to some recent trades the provider has made. Bearing this in mind it’s certainly worth scrolling through these comments over a longer time frame. The translate link will help you in case they’re in a different language.
At the bottom of the main ZuluTrade “signal provider” performance screen you’ll see the full trading history for the provider. This includes every single trade they made on the ZuluTrade social trading platform, including the highest and lowest value any of their positions reached while they were open. All the historical trades can also be exported to Microsoft Excel, allowing you to perform your own proprietary analysis on the data.
Additional tabs also display the current open positions of this “signal provider” and the list of “live followers”.
Under the “performance / monthly PnL”e tab you can chart the historical performance in pips per month. This is a very good indicator of the consistency of the “signal provider’s” performance over time. You can do this for “closed trades only” or “include unrealised profit and loss”. This last factor is very useful as it displays the actual state at the end of each month and will unearth whether the provider kept loosing positions open until a new month to maintain their monthly positive balance.
The “Performance / Trade Volume” tab displays the number of trades closed each monthly and using colours how many were winners and losers. This graph is another good indicators of the consistency of the provider and can uncover certain dramatic changes in strategy (e.g. massive increase in trades).
The ranking graph display the historical rank of the provider in the ZuluTrade performance ranking table. This is another good indicator of their consistency over time, i.e. are they able to maintain a consistent high ranking.
Under the Trading tab you’ll find a pie chart (SEE IMAGE) display the % of trades this “signal provider” traded in the various forex currency pairs. The “Trading timeframe” tab displays a pie chart with the amount and % of trades opened during the various trading time zones, i.e. Asia-Australia, Europe, Europe-USA and USA.
The Drawdown tab shows a graph with the drawdown in pips against the accumulated amount of pips over time. Drawdown is an indicator of the actual positions of your account and takes into account the open positions. E.g. of the difference between the red and green line is 1000 pips it would mean your account would have been negative for that amount before the markets turned and you move into positive territory again. A large drawdown can mean that you get a margin call if there’re not enough funds in your account. E.g. if you allocate $1 per pip and the drawdown on a EURUSD position is 1000 pips, you’d need to have at least $1000 in your broker account to cover this drawdown. Hence a graph with a steadily moving upward green line (profits) without massive red line downward dips (drawdown) is the sign of a consistent low risk trader and signal provider.
The slippage graph is useful as well since it displays the average slippage at the various brokers. I.e. the average difference in pips between the trades executes by the provider and the copied trades executed in the follower accounts at the different brokers. Depending on the trading style from the signal provider (i.e. what pairs do they trade and when), the reported slippage may vary between the different brokers. This is mainly because the spreads charged by the brokers may be different per currency pairs and broker spreads may also vary during news releases.
In summary, ZuluTrade not only provides you with the information of every single trade a Signal Provider has done in the past, but also with a wide choice of graphs you can use to analyse them. And if you prefer, you can download the Trade History into Excel and do your own further analysis. The historical information available is completely transparent and the amount of it may even be overwhelming for more novice traders. It’s not within the remit of this ZuluTrade review to provide information on how to use the statistics and historical performance information to find the signal providers that meet your investment profile. You can have a look in our select the best ZuluTrade Signal Providers tips section for some insight on that.
In addition, you can also use our in-house built “ZuluTrade Signal Provider Comparison tool” when evaluating the performance of the Signal Providers. This exclusive Social Trading Guru tool allows you to evaluate the past performance of the traders on ZuluTrade in an easy and intuitive way, taking into account both performance and risk.