ZuluTrade changing for EU residents on December 12th 2014

ZuluTrade is changing for EU residents

ZuluTrade LogoIn accordance to EU legislation which aims to increase investor protection ZuluTrade has introduced some changes to their social trading service for EU residents.

The following changes came into effect from December the 12th 2014:

      • The first time they log in after the 12th, EU customer will to complete a short Suitability Questionnaire
      • Only the top 500 Traders will be visible in the ‘ZuluTrade Traders Performance’ table and it will only be possible to follow and copy those.  These Traders need to comply with the following criteria: Max DrawDown less than 30%, average pips per trade more than 5 pips and trading history for over 12 weeks. More information can be found on the ZuluTrade Trader Guide. EU customer who’s portfolio includes traders which are non-compliant will automatically have those traders disabled in their Portfolio after December 12th. This means no new trades will be opened for those traders, though the customers will still receive the closing signals for any open trades these customers have open in their portfolio.
      • Going forward EU residents will also need to protect each trader in their portfolio using ZuluGuard Capital Protection. Please note that this a good practice anyway!
      • In addition, the maximum accumulated Capital Protection for all the traders copied in their account cannot exceed their overall risk allowance (which can be no more than 75% of your available balance).
      • Based on the customer settings, capital allowance and historical trader statistics, an upper limit restriction on the maximum lots per trade for each trader will also be applied.
      • And finally, whenever an EU customer makes a new deposit they will need to manually re-set their maximum Capital Allowance.

While to some EU customers these changes may sound a bit restrictive, overall they’re no more than good practice which most experienced ZuluTrade users who appropriately manage their overall risk apply anyway. For those who like to gamble and take excessive risk in the faint hope to make large profits with limited capital, this obviously restricts their options (and they may as well visit a casino website instead).

Click Here to visit ZuluTrade

Add Comment Register

Leave a Comment

Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.