It seems quite cool to be able to trade by copying the trades of traders who know what they are doing. This method of trading has proven to be a great way to invest for those who have never traded before and don’t have the time to learn the intricacies involved with this activity. However, many people think that this would limit their freedom as a trader, which is not true and I will make that clear through this Zulutrade review.
Since Zulutrade is one of the most renowned copy trading platform on the internet, I can use it as an example to show you that there is enough liberty for you when you join this platform for trading. So, let’s dive right into the review.
Pick Assets of Your Choice
First of all, there is no restriction on which particular asset you can or cannot trade. When you join this platform, you will have access to any assets you like in any market of your choice. Of course, the leverages available to you will be decided by the policies of your broker but any leverages and other features available to you from your broker will be available to you even if you use Zulutrade. You can trade precious metals like silver, platinum, and gold. Agricultural assets along with energies are also available for trading. Stocks can be traded alone or in bundled form if you decide to enter the indices market.
The best thing about trading on this platform is that you will find multiple options in each asset class. So, if you enter the cryptocurrency market, you will have Ethereum, Bitcoin, Litecoin, Tether, and many other assets available for trading.
Manual or Copy Trading Is Your Choice
You will be surprised to know that you have full liberty to trade the way you like. Yes, Zulutrade is all about copy trading but it does not mean you don’t have the option to trade on your own. You will still have access to some of the best traders from various other platforms. You can see their past records to find out how good they are, know their ranking in terms of trading success, and find out patterns of their trading. Once you know those things, you can always follow them or continue to trade with your broker the way you have been trading. You can always talk to traders to learn about their trading strategies and why they went with them.
When it comes to copy trading, you can gain more control of your trading decisions than you might imagine. If you don’t know already, there is an automator feature available from the company that lets you automate your trades. You can define criteria for your trades and set thresholds for your losses or profits. Once those thresholds are hit, your positions are closed or opened automatically.
Interact with Traders
If you had to ask me, I would say this is my favorite feature for a variety of reasons. When traders take decisions and investors follow, I always think that they are doing it blindly. This way, they will never be able to learn. However, Zulutrade has opened doors for you to learn trading and implement those trading strategies on your own. You can interact with traders and learn from them. You can ask them questions about their trading strategies. In fact, you also have the option to get in touch with other investors who are in the same boat as you. For this reason, this form of trading is also called social trading.
You have complete freedom of taking your trading decisions when you are on this platform. You can’t ignore the fact that your broker stays the same. If you are already with a broker when you join Zulutrade, you can keep that broker and trade under their policies and terms of service. Zulutrade, in that case, serves as an additional resource that makes trading more convenient for you.