Etoro and Zulutrade are two major social trading networks
with the most members. Both are actively involved in forex investing. They
provide a link between the traders and investors who want to imitate their
strategy. For this reason, this article will provide all the necessary
information that you need by giving a breakdown comparison for you to make a
wise choice. As we continue, it's important to note that we owe no specific
allegiance to any of the networks.
Both networks give a free demo account before you can invest
with "real" money.
The procedures are easy, but once you decide on investing
with real cash, you'll need to provide identification documents such as a copy
of your passport or ID and prove to be a resident.
The only difference that you'll notice in the two is that
etoro acts as your broker, so once you complete signing up, then they proceed
to create a broker account for you. Zulutrade has a systemized broker, but once
you sign up, they give you the option to use one out of forty other brokers. It
has a competitive advantage in that; you can choose a broker based on your
currency preference and your country. Etoro limits account to $USD. They also don't accept US-based customers,
Both trading companies are free to use. However, on trading,
you'll only be required to pay a commission through your broker. Just keep in
mind that in Zulutrade you have a variety of brokers to choose from, unlike in
etoro where they offer their brokers. Etoro has a constant charge of 3USD.
Which network is cheaper?
Zulutrade is said to be cheaper. This is dependent on the
broker that you use. Take your time to look out for the best Zulutrade broker
rankings. Preferably use a Zulutrade native broker as the chances of your slip
increasing are high! Both Zulutrade and etoro do analyses of both networks
Which account has better traders?
Both have good traders to select from. However, etoro traders
are limited to trade on the provided platform thus have fewer traders. On the
other hand, Zulutrade has much more traders to select from, but their official
Zulutrade ranking has never been consistent and gives poor selections. They
hide traders in the bottom ranks.
TRADING RESEARCH FEATURES
These features include well-researched data, graphs and other
necessary tools needed to enable you to arrive on a trader of your choice.
Based on the research tools used, Zulutrade is seen to take a significant lead.
They provide not only information on every trade the trader executes, but also
more advanced research tools. They also give a broad choice of graphs than
List of features;
Zulutrade: They provide a full trade history on their
interface. In addition to this, it can be exported to Excel for more analysis.
Etoro: They only provide trades over the past one year. They
also can't be exported.
Zulutrade: Traders are ranked using 13 indicators and eight
Etoro: Traders are ranked with 13 indicators as well and three
Zulutrade: there are online simulation tools in place to
allow you to simulate the performance of the traders you've selected based on
their historical data.
Tools used are;
vThe Margin Call-o-meter- it
automatically adjusts the risk of each trader to prevent losses.
vThe Zulu guard-it limits chances of
making losses during trading enhancing the safety of your account.
Etoro: they don't have available online simulation tools or
trade portfolios. However, in Etoro VIP cases, account managers do run
simulations for their members.
More infos can be found in the user manual.
Zulutrade: customers are allowed to give feedback, give
ratings on the trader's page and also add comments to the "social
charts" Traders also give remarks but this happens on rare occasions.
Etoro: usually moderates the comments though customers can
still interact through the newsfeed. Traders here are more active to
communicate and give updates though on occasional cases
This actually is the big question! Do users on these
platforms make money? The answer is YES!
Zulutrade: Plenty of its users earn real money. In fact, the
ranking on Zulu4me shows followers with the most earned money for free! You are
allowed to copy the same portfolio as them.
Etoro: The fees charged here, make it more challenging to
make a lot of money. Also, most traders here have only traded for about one
year thus making a smaller track record.However, your limited to copy the best traders in the market if you
haven't opened your etoro account through All Copy Trading.
Both platforms offer online assistance chats, emails and also
telephone support. Etoro also provides a personal manager if your account holds
over $20,000. Zulutrade gives own advisors no matter the amount of cash you
RISK MANAGEMENT FEATURES
This feature allows one to decide on the amount of risk they
wish to risk per trade. They also protect your account.
Etoro: they have the more straightforward approach to this.
Once you choose a trader, you assign your monetary amount to them. From that
moment onwards, any trade done by this trader in their account is made
proportionally to your account based on the amount you decided on. For example,
if the trader risks 10%, the same amount will be risked in your account.
In short, the risk management allocation is in the trader's
hands. To prevent losses, you can set up a percentage or $value stop level. If
the trader reaches this level, the trades become automatically closed. Levels
can only be set from 5%-95%.
Zulutrade: risk management is entirely dependent on you. Make
sure you have all the basic knowledge you require on your fingertips. That
means you have the choice to decide on how much to risk each time the trader
makes a trade. The higher the amount, the more the risk!
However, Zulutrade is perfect since you can manage the risk
- Limiting the total number of trades a
- trader can copy at the same time.
- Limiting forex traders who you can
- copy at the same time
- Limiting the total drawdown amounts
- of open trades
- Limit the forex pairs the traders can
- open in your account
- Limit the times signals are copied
In 2015, Zulutrade introduced the universal binary trading
options. This feature enables you to copy other successful binary traders. Most
investors tend to prefer this method as it makes trading simpler and easier to
control than forex trading. It enables you to advance the cash that you
potentially earned or lost accurately! Any trader would most definitely want to
try out this feature since the feature is currently not offered by Etoro.
In early 2016, Zulu trade introduced "Pro-Rata." It
enables proportional assigning from your % value. ZuluTrade has leverage over
Etoro, and it allows you to increase your account balance and increase your
It's a bit difficult to determine which trading network to
choose over the other. Each market appeals to individual investors. However,
Etoro has limitations in trader research features and the risk-taking options
thus making Zulutrade more appealing to investors.
Also, Etoro runs accounts in $USD making Zulutrade more
popular with people who want to use currencies such as Pounds, Russian robles,
Japanese Yen, Euros, amongst others.
In Zulutrade, the website has natural social trading more
than Etoro and has since created a stronger community. Zulutrade also makes it
simple for you to get the best traders and earn the best returns!
Well, there you go! Make your choice now.