ZuluTrade

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ZuluTrade
TypePrivate company
IndustryFinancial services
FoundedVirginia, United States, 2007
FoundersLeon Yohai, Kosta Eleftheriou
Headquarters,
Key people
Tajinder Singh Virk(CEO) [1]
ProductsSocial trading platform
Number of employees
75-100
ParentFinvasia Group
Websitewww.zulutrade.com

ZuluTrade is a Greek financial technology company that operates an online and mobile social and copy trading platform. The platform allows users to copy other traders in the forex.[1][2][3][4] As of 2014 ZuluTrade had around one million users and an executed trading volume of over $800 billion.[5]

History[edit]

ZuluTrade was founded in 2007 by Leon Yohai and Kosta Eleftheriou.[6] Eleftheriou left the company in 2008.[citation needed] Yohai traded on the FXCM trading platform prior to founding ZuluTrade. He created a software connected to FXCM's API that allowed him to copy trading strategies in his realm of interest. The concept was then put into beta in 2008.[6] By 2009, the company had over 4,500 "expert" trader (or "signal provider") portfolios whose trading strategies could be copied by the platform's user base.[7]

In 2011, ZuluTrade was listed among The Daily Telegraph's "Start-Up 100" in the category of "Finance, Payments and Ecommerce."[8] The company also unveiled several new features including the ability to follow other followers (rather than just signal providers)[9] and the requirement for signal providers to be profitable in order to receive payment.[10] In November 2012, ZuluTrade redesigned their website and added more new features including ZuluGuard.[11] By the end of 2013, the company had around 120 employees, 40 of whom were designated for customer support.[6]

In September 2014, Zulutrade expanded in Japan through the acquisition of a regulated investment advisor, Market Crew Investment Advisor Co., Ltd., and launched its collaboration with local FX retail brokers. The first Japanese broker was Arena FX Co., Ltd.[12] In March 2015, ZuluTrade Group announced that the platform was awarded an EU Portfolio Management License from the European Union. The designation made the company a licensed portfolio management company in the EU.[13]

In December 2021, ZuluTrade joined Finvasia Group. Finvasia has been working to increase its reach in Europe, North America and Middle-East in various ways in order to create a complete ecosystem for retail and institutional investors.

With ownership of more than a dozen brands in the fintech and financial services industry, Finvasia reaches millions of investors around the world. It has offices in over 5 countries, serves clients in more than 150 countries and is regulated by over a dozen regulators around the globe.[14]

Recently, the organization has been acquired by Finvasia.[15]

Service[edit]

The ZuluTrade service is a social and copy trading online platform that allows users to mimic the investing strategies of trading "experts" in forex markets.[1][2] The user base is typically split into two categories: signal providers and followers. Signal providers are generally traders that have developed a strategy willing to share and can be copied by their followers.[6][16] Followers can also mimic strategies of the portfolios created by other followers.[9] Signal provider compensation fees are based on the success and popularity of their trading strategies.[17]

The platform also has several features, including ZuluGuard, that automatically unfollows a signal provider if their trading strategies change. Lock Trade allows users to verify the execution of a trade after the signal has been received. The website also features several social network-like features including comments and forums.[11] The platform also has a feature called ZuluScript which allows users to create scripts that designate specific parameters as criteria for trading robots (known as "Expert Advisors") to automatically start making trades.[18] Additionally, ZuluTrade operates a binary option social trading platform.[5]

ZuluTrade provides rankings of investor performance and allow investors to immediately observe and copy other trader's portfolios.[19] This is provided by simulator which shows overall profit, alerts user if a margin call occurred and even allows user to download a spreadsheet of all the simulated trades.[20]

References[edit]

  1. ^ a b Robinson, David (27 September 2014). "Return of the daytrader: can you earn a living by copying other investors?". The Daily Telegraph. Retrieved 11 November 2015.
  2. ^ a b Hamilton, Walter (28 November 2009). "Americans rushing to invest overseas". Los Angeles Times. Retrieved 11 November 2015.
  3. ^ Passy, Charles (2 March 2011). "You Snooze, You Lose". The Wall Street Journal. Retrieved 11 November 2015.
  4. ^ "Social Trading Platform ZuluTrade Becomes Regulated in the EU". Business Wire. 3 June 2015. Retrieved 11 November 2015.
  5. ^ a b "ZuluTrade Rolls out to Binary Market". HighBeam Research. 9 December 2014. Archived from the original on 29 May 2016. Retrieved 11 November 2015.
  6. ^ a b c d Saks McLeod, Andrew (27 December 2013). "Executive Interview: ZuluTrade CEO Leon Yohai Discusses The Modernization Of Social Trading". Finance Magnates. Retrieved 11 November 2015.
  7. ^ "ZuluTrade.com Revolutionizes Autotrading of Foreign Currencies Online". HighBeam Research. 19 November 2009. Archived from the original on 6 November 2012. Retrieved 11 November 2015.
  8. ^ Yiannopoulos, Milo; Rosenberg, David (5 April 2011). "Start-Up 100: the final list by category". The Daily Telegraph. Retrieved 11 November 2015.
  9. ^ a b Greenberg, Michael (31 March 2011). "Zulutrade launches a 'follow a successful follower' capability". Finance Magnates. Retrieved 11 November 2015.
  10. ^ Patterson, Sara (21 November 2011). "Zulutrade Announces New Compensation Plan". DailyForex. Retrieved 11 November 2015.
  11. ^ a b Finberg, Ron (29 November 2012). "ZuluTrade Gets a Makeover". Finance Magnates. Retrieved 11 November 2015.
  12. ^ Mizrahi, Avi (9 September 2014). "Exclusive: ZuluTrade Acquires Japanese Subsidiary and Partners with Arena FX". Finance Magnates. Retrieved 9 February 2016.
  13. ^ Finberg, Ron (3 June 2015). "ZuluTrade Gains EU Portfolio Management License in the EU". Finance Magnates. Retrieved 11 November 2015.
  14. ^ "Finvasia Group Acquires ZuluTrade, the World's Largest Social Trading Network". 14 December 2021.
  15. ^ Steves, Rick (December 14, 2021). "FINVASIA ACQUIRES MAJOR SOCIAL TRADING PLATFORM, ZULUTRADE". Finance Feeds.
  16. ^ Lemon, Adam (28 October 2015). "Who Makes Money with Zulutrade". DailyForex. Retrieved 11 November 2015.
  17. ^ Greenberg, Michael (18 November 2011). "ZuluTrade will pay signal providers only for profitable months, charged by NFA". Finance Magnates. Retrieved 11 November 2015.
  18. ^ Hatzakis, Steven (12 February 2014). "ZuluTrade's New Web-Based Platform Lets Traders Run Trading Robots via Zuluscripts". Finance Magnates. Retrieved 11 November 2015.
  19. ^ Baghestanian, Sascha; Gortner, Paul J.; Weele, Van Der; J, Joel (2015-02-02). "Peer Effects and Risk Sharing in Experimental Asset Markets". Rochester, NY: Social Science Research Network. SSRN 2504541. {{cite journal}}: Cite journal requires |journal= (help)
  20. ^ Viljoen, Ray (2015-10-28). "ZuluTrade Review". BestSocialTrading.com. Retrieved 2016-12-11.

External links[edit]