The following is a sponsored blog post:
Forex Trading is a new concept for many people in North America. But this form of day trading has existed for many years. As a fast paced way to trade upon currencies, commodities, and other financial entities, Forex trading has found a home on the internet, where international reach and powerful speeds make this form of day trading fast and agile. ZuluTrade introduces a social element to this growing investment form. Click through for a detailed ZuluTrade review, but for now we’ll go over some of the elements of how Social is transforming Forex in this arena.
Socializing Forex isn’t totally new, but many in the Forex community haven’t heard about it yet, so you can be sure that this isn’t on the radar of the general personal finance community. In a few words, Zulutrade enables Forex to automate their trades, following the trades of some of Forex’s best traders. Much like automated investment solutions in the mutual fund and ETF sphere, Zulutrade is creating an option for modern day traders, who want more of a set-it-and-forget-it approach to Forex.
Zulutrade supports more than 60 brokers, meaning it’s a system of trading that is likely already available where you do your Forex trading. For established traders, it’s well worth trying out. For those who have yet to give Forex a try, it’s a perfect opportunity to open up a free demo account, as is offered by most Forex brokers, to see if this system brings in meaningful dividends. If the review above is any indication, this can be a reasonable expectation.
Once you’ve activated ZuluTrade, you’ll take a look at many optional Signal Providers. This term refers to what amounts to various stables of successful Forex traders. Because their trading decisions are public knowledge, ZuluTrade can make your own trades mimic those of the traders that you follow. If all goes well, your success mirrors their success. While this is no guarantee of success, this is a method of achieving the same results as some truly impressive minds.
Social trading is hot in FX circles. Critics of the model say it’s just an attempt to get people’s money into these new accounts, which help to fund the brokers, who share their revenue with ZuluTrade. Critics further opine that the individuals who are most attracted to social trading are those without much technical knowledge of Forex trading at large. While this isn’t necessarily false, these claims will only hold water if it is demonstrated that users who follow the social trading model do not do well.
This is all a lead-in to the excellent research and trading experiments performed by the reviewer in the link above. To see how the social model of ZuluTrade plays out for a real trader, willing to explain every detail of the process, click through and read. Spoiler Alert: this trader happens to do really well, meaning that ZuluTrade can offer significant yields over short periods of time, which continues to be Forex trading’s promise and biggest value to new investors.