Social Trading is very hot at the moment with all the major CFD providers coming out with their own social trading platforms or providing support for other social trading platforms such as ZuluTrade and Tradeo. I decided to investigate whether social trading works or whether it doesn’t live up to the hype. For this I decided to open demo account at the most popular social trading network ZuluTrade.
I started by opening a ZuluTrade demo account with £5000 play money. I then proceeded to pick four different signal providers with a good track record and limited Draw Down, in the hopes of minimizing risk. After having made my various picks I waited and let the signal providers make there moves. Apart from this I used the default settings suggested by the providers and ZuluTrade.
According to ZuluTrade if I had followed the signal providers I had chosen from 2010 until now my £5000 play account would have grown have doubled in size and been worth over $10,000 now. It wasn’t until the next day did any of my signal providers open any positions, however things got off to a good start with the said signal provider opening three positions all of them being reasonably profitable.
After this I simply left the four signal providers I had chosen to do their work and trade the Forex markets. After 14 days about half way through the month the traders I had followed had made me £250 from my initial £5000 deposit. From the below graph it appears that my account hasn’t had a negative day, which is really quite impressive. In half a month I had made a 5% return which is very impressive over such a short period of time.
Hi! Have you opened a live account in zulutrade? And if yes which providers are you following there? I really like this platform and i just want to see which traders do other people select to copy there.
For this experiment I followed ForexTechno, FX Profit Runner, Qurenix and Kama Spot. But out of the four providers only Qurenix and Kama Spot made any money with the other two making slight losses. For the sake of the experiment I decided I would change signal providers throughout it just to see how it went.
intresting combination!! thanks you for sharing with us! i am actually looking for a decent list of providers 😉
Kama Spot has had an extremely impressive month and Qurenix has done very well too. I would probably drop the other two and try some others out. I like having four to five providers on the go at once. Best way to pick is to look at some of the best performers in detail.
You also should copy his other account , Saved Fx , good pips from there too.
Thanks for the tip, I will have a look at the account performance and make the decision whether to add him into my followed traders.
Are we talkin about live account or demo?
And which traders are you following?
Demo but the demo uses AAAFx as the default brokerage, so the spreads are the same. You would expect some slippage so the results may be a little lower on a real account with AAAFx. The results would again vary more if you went with other brokerages, due to the fact they have different spreads (some tighter) but may have more slippage.
ForexTechno, FX Profit Runner, Qurenix and Kama Spot were the traders followed didn't change up the providers followed at any point during the time period.