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#1 04-12-2013 20:25:55

johnedward
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From: Paris - France
Registered: 21-12-2009
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ZuluTrade improves options for choosing signal providers and brokers

ZuluTrade improves options for choosing
signal providers and brokers

   
Article by forexbrokerz

If you're a fan of ZuluTrade, the popular platform for social Forex trading, you must have noticed that the website looks a bit different now. That, fellow traders, is a result of a raft of innovations that go along with the latest upgrade of the service which takes it to the 4.1 version. Among the most noticeable and useful features of the new version are the tools that make it easier to select a Forex broker and a signal provider (SP). We tested the updated service and could not help but share our experience with you.

Custom Search for a Forex Broker

http://www.forex-central.net/forum/userimages/2013-Zulu-select-broker.png
Picking the right Forex broker is a complicated task for any trader but when it comes to copying one's signals, things may get really burdensome, as you should have many things in mind, with a heavy focus on slippage. But there are other things to consider too: regulation, the ability to trade with a certain trade contract size or leverage, as well as supporting a particular platform. The good news is, as you can see from the photo above, that the ZuluTrade team is now offering this custom-based search: you can set the parameters and a list of Forex brokers matching the criteria will appear. Thumbs up for this trader-oriented tool!

Compare Signal Providers
 
http://www.forex-central.net/forum/userimages/2013-Zulu-select-broker2.png
The platform now offers the capabilities to compare signal providers – on the Performance page, just click on the Compare button at the upper right corner and a dialogue panel will open, asking you to add traders which you wish to compare. You can see the traders ordered side by side, with a raft of comparison metrics, including profit, average pips per trade, etc. The tool facilitates the choice of an SP for those who have grown tired of navigating among several windows dedicated to the performance of a particular trader.
You can compare as many SPs as you wish, but on a single page you can view only four so it's better that you stick to this number.
 
Profit Timeframe
 
http://www.forex-central.net/forum/userimages/2013-Zulu-select-broker3.png
There is another tool worthy of your attention – the profit timeframe, which allows you to see lists of signal providers, according to their profits in a certain time period, ranging from a day to the start of their trading on ZuluTrade. Our impressions with this tool are somewhat controversial, especially if you enlist traders according to profits from the last day: you may see SPs that are loss-making in the long term but profitable in a particular day, mixed with those that are really good. This may make the choice of a good SP harder instead of easier.
However, since we aim to find something worthy in everything, here are two ways in which you can benefit from this feature:

- You can find “hidden gems” on the network, that is traders that are newbies to the platform and are not yet successful enough to occupy top places in the major rankings but may have their pros.

- You can combine this search with other types of search – according to capitalization, for example, and thus get a refined picture of the fortunes of some top SPs. For example, you can find out who among the traders with highest capitalization delivered the biggest profit over the past week.

Other Innovations

The team behind ZuluTrade has put plenty of efforts behind the most recent upgrade and so there are bunch of other perks you can make use of. These include an extra performance chart, which allows you to see how profitable an SP was across various currency pairs. The settings for copying signals are refined so that they allow you to copy signals with a given pair only in a certain direction (buy or sell).
Obviously, the Zulu team is seeking to improve the trading experience on the platform and to facilitate the choice of worthy SPs, as the popularity of the service grows.

http://www.forex-central.net/img/zulutrade-logo.gif


"Anything worth having is worth going for - all the way." - J.R. Ewing

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