Trader Guide

Last updated on 22-Dec-2017 

1. ZuluTrade Traders (Signal Providers)

A) Introduction to Traders Program

A "Trader" is a ZuluTrade User, who trades either on a Demo or Live account while ZuluTrade publishes his/her results and statistics publicly through the website. Each trading action performed in the Trader’s account is sent to all ZuluTrade Demo and Live accounts in the form of a broadcast signal.
Clients, who have chosen to follow the Trader ("Followers"), have the trading action automatically executed in their account, residing in their brokerage firm. Since a simple Trader signal is executed by various different brokers that have different trading interfaces and configurations, trading problems can occur. A possible instance is an orphan trade. An orphan trade is a trade that although it is closed in the Trader’s account, due to a variety of reasons, it may be left open on one or more of the Followers' Live accounts. This incident can lead to different results between the Trader and the Follower - e.g. although the Trader gains, the Follower ends up losing as a result of the trade having closed long after it had been closed in the Trader’s account. However, Traders have the ability to both monitor and close their live Followers' positions that are detected as "orphans".
By using the tool for orphan trades, Traders can quickly and efficiently remedy this situation. Whenever a trade is closed in a Trader account, if any orphan trades exist, they will appear under the "Positions" tab within 5 minutes after having closed the trade. A table will appear displaying the Trader ticket, the number of users under the same broker for whom the order is still open, currency pair, date opened, entry and current values, and a profit tab. To close an orphan trade, click on the "close" option; the trade will immediately close and a corresponding close message will appear.
Followers can fine-tune and override Traders signals by configuring their settings in their ZuluTrade account portfolio, or even manually.

B) Creating a Trader account

Anyone can sign up to become a Trader. Simply register for your Trader account here. You can open up to 10 Trader accounts with the same email address. Competition however is fierce. Traders’ performance is constantly ranked by ZuluTrade's ZuluRank algorithm and the ZuluTrade community, so that only the best ones appear on the top of our lists.

For the European version of our Performance page, competition is even stronger! As per EU legislation, only the top 1000 Traders will be displayed and available to Followers residing with EU, provided that:

  • They have less than 30% Drawdown
  • Minimum trading time of at least 12 weeks
  • The profit per trade should be greater than 3 pips.

If you want to find out more about the way ZuluRank is calculated, please click here!

C) Trading platforms

Traders may select one of the following Trading Platforms to place their trades:

  1. ZuluTrade+

    In ZTP, both Live and Demo Traders are equipped with a fully-fledged Trading Station user interface with technical charts and indicators, along with the ability for Traders to create trading robots by running their own ZuluScripts. In more detail, the in-built Trading Station offers technical charts (Candlesticks, OHLC, Lines), a large variety of Indicators (Trend, Oscillators, Volatility, Volumes, Bill Williams, etc), custom lines/text/objects etc, all inside the Trader account, without the need for any external platform. Therefore as the platform is entirely web-based, the Trader account is shielded against connectivity issues and can run EAs uninterruptedly without the need for a VPS. For more details about how to create and run ZuluScripts, please see here.

    ZuluTrading API

    The ZuluTrading API can also be used with ZTP. ZuluTrade offers its own REST API which enables Traders to submit trading requests straight to their accounts from their own custom program. In other words, instead of logging in to the Trader account to manually open, manage and close trades, Traders can configure their own algorithm to do this for them. Although some basic programming skills are required, a comprehensive step-by-step guide is provided for setting up the ZuluTrading API.

  2. MetaTrader 4 (MT4) platform

    It is possible to link an external live or demo MT4 platform to a Trader account. In this case the Trader account becomes read-only and any trading activity that takes place in the MT4 account is copied over to the ZuluTrade account. The list of brokers compatible with Trader accounts can be found in the Settings tab of the Trader account, or by contacting Support.

    ZuluTrade VPS

    ZuluTrade offers Traders trading via MT4 the chance to host their trading strategy for free via ZuluTrade's own VPS service. ZuluTrade supports over 60 Brokers and there is no need to download any platform - the MT4 client of your choice will be pre-installed into your VPS account, and can be accessed via any browser. The ZuluTrade VPS service is available only for Traders trading via MT4 terminals; there is a limited number of available VPS, so Traders should keep an eye out for the 'Connect to my VPS' button at your Settings tab - it appears only when VPS slots are available. ZuluTrade VPS is a premium service and as such a fair use policy applies; if it is detected that the VPS service is misused in any way, then usage of the VPS service may be revoked. Typical examples of misuse are:

    • malicious intentions
    • low or excessive usage
    • use of 3rd party executables that interfere with the OS
    • multiple instances of MT4 clients and EAs
    • usage beyond ZuluTrade's environment, etc

    Please also note that there is a limit of one free ZuluTrade VPS per physical person.

D) Performance, Stats and Indicators

As a Trader trades, their performance and position in the ZuluTrade Performance page will gradually evolve; moving up and down in ranking. All data and information of the Traders are taken into consideration in order to calculate their place in the ranking. Some decisive factors for the ZuluRank are (please note that this list is not exhaustive):

  • Maturity: How long the Trader has been trading for, reflected in ‘Weeks’.
  • Exposure: How many positions might be open at the same time, reflected in ‘Max Open Trades’, the 'NME' required, etc.
  • Drawdown: How many ups and downs the Trader’s historical performance has experienced.
  • Performance: Overall pips earned, average pips per trade and other performance metrics.

For Our European Performance Page only, the below mentioned factors are also taken into account in order to form the list of the top 1000 Traders:

  • The Maximum Drawdown of the Trader’s account should not have exceeded 30% of the total profit.
  • The minimum trading time is set to 12 weeks.
  • The profit per trade should not be less than 3 pips.

If you want to find out more about the way ZuluRank is calculated, please click here!

The Performance page is updated several times per day, as trades and Traders' statistics develop. Performance page also contains visual indicators, helping Followers to identify certain Trader attributes. Most common of which are:

  • The Trader is using a Live Account.
  • The Trader is using a Demo Account and has a Live Account linked to his Trader one.
  • The Trader is using MT4 Expert Advisor
  • The Trader is operating on ZTP, using ZuluScripts
  • The Trader is submitting trading requests through ZuluTrading API
  • The Trader's strategy is complying with the FIFO rule and does not hedge
  • The Trader has an average user rating of at least 4 stars!
  • The Trader is trading correlated currency pairs, by using a natural hedging strategy that potentially lead to limited drawdown
  • The Trader is frequently trading economic calendar releases!
  • Zulu Veteran - a Trader that has been trading with ZuluTrade for more than 2 years with a consistently high ranking
  • Traders that have partially or fully verified their account.

In order to appear in the Performance page, a Trader must first close 1 trade, while a minimum of 12 weeks of trading activity is required in order to appear on the Performance page for Europe!

2. Payments

Traders’ compensation differs according to the Account Type of their Live Followers.

  • Volume Based Compensation – Classic Accounts
  • Profit Sharing Compensation – Profit Sharing Accounts

Volume Based Compensation Scheme

Traders earn 0.5 pips per lot, for each closed trade executed in a Live Follower account under Classic Account Model. Pip cost varies according to the currency pair traded, the type of account of the Follower etc.

Profit Sharing Compensation Scheme

Traders get compensated on a monthly basis according to the profits they generate on their Live Followers under Profit Sharing Account Model

Every time you generate a profitable monthly PnL to a Profit-Sharing Follower, you will be credited a 20% Performance Fee. This Fee will only apply for the amount above High Water Mark (“HWM”). HWM is the maximum profit made by the Trader and it is calculated on the 1st calendar day of each month since the Follower added the Trader to his portfolio.

For each profitable monthly PnL, the Trader will be compensated based on a 50% Payment-Reserve model. More specifically:

  • 50% of the Performance Fee charged is being credited in the Trader’s account
  • The same amount (50%) is requested from Reserve bucket. The amount that will be released and credited is limited to the reserved amount generated from previous periods.
  • 50% of the Performance Fee charged is added to the Trader’s Reserve Bucket for next periods.

Each Trader holds one Reserve Bucket for all his Profit Sharing Followers. The Reserve amount is updated on the 1st calendar day of each month based on the profits/losses generated on the Live Follower accounts from the Trader during the previous month.

Case 1: Profitable monthly PnL - Profit above HWM

Follower’s Monthly Performance Fee (20% of the Profit above High Water Mark) is split, as follows:

  • 50% is credited in the Trader’s account
  • 50% is credited from Reserve Bucket (if applicable - see the example below)
  • 50% is placed into the Trader’s Reserve Bucket for future release.
Case 2: Negative monthly PnL

In case of underperforming, the Reserve amount will be deducted by 20% of the generated losses.

Case3: Recovering Losses Period - Profit below HWM

In case of a Recovering Losses Period, the Performance Fee will not apply, yet the Trader’s reserve will be increased by 20% of the generated Profit.

For example:

In June, a Trader makes a profit of $1000 - This will be the HWM. The Follower will be charged 20% out of the accumulated profit ($1000): $1000 x 20% = $200

Based on the Payment-Reserve Scheme, for the Trader

  • 50% of the Performance Fee paid by the Follower will be credited in the Trader’s account immediately: $200 x 50% = $100.
  • 50% of the Performance Fee paid by the Follower will be credited in the Trader’s account from the Reserve (in case there is available amount). In this example, there is no Reserve.
  • 50% of the Performance Fee paid by the Follower will be reserved in the Trader’s Reserve Bucket: $200 x 50% = $100.
Monthly Reserve Amount = $100

Total Reserve Amount = $100

In July, the Trader has a negative month (-$100) – HWM remains $1000.

  • Performance Fee will not apply for the Follower
  • The Trader’s Reserve amount will be deducted by 20% of the losing amount: -$100 x 20% = -$20.
Monthly Reserve Amount = -$20

New Total Reserve Amount = $80 (=$100 - $20)

In August, the Trader makes a profit of $500 – New HWM $1400

  • The first $100 is considered as Recovering Losses Amount (loss generated in July) and the Follower will not be charged any Performance Fee. However, the Trader’s Reserve amount will be refilled again with the amount of $20 (20% x $100).
  • Performance Fee will apply for the Follower, only for the $400 (amount above new HWM): $400 x 20% = $80.
    The Trader will now receive
    • 50% of the Followers Performance Fee will be credited immediately: $80 x 50% = $40.
    • 50% of the Followers Performance Fee will be credited from Total Reserve Amount reserved so far: $80 x 50% = $40
    • 50% of the Followers Performance Fee will be added to Reserve Bucket: $80 x 50% = $40.
Monthly Reserve Amount = +$20 (from Recovering Loss Period) -$40(credited to Trader from previous Reserve) + $40 (placed into Reserve bucket) = $20 = $80 (=$100 - $20)

New Total Reserve Amount = $80 (=$100 - $20)

US Traders

ZuluTrade compensates US Traders by a variable monthly membership fee. Monthly compensations for Traders can vary depending on account size and signals generated per month. Please note that ZuluTrade Traders, who are NFA registered as an Introducing Broker (IB), receive half pip per lot for every trade generated in a Live account.

The monthly membership fee is calculated using the following formula:

((Aggregate customer capital following the Trader / Initial Balance) / 100) × Subscription fee

Initial Balance represents the Necessary Minimum Capital required to cover the Trader's maximum recorded historical drawdown. Aggregate customer capital following the Trader, corresponds to the average amount over the monthly period.

Subscription fee is determined by the number of signals generated by the Trader during the month. Below is the schedule used to determine the subscription fee.

  • 5 - 20 Signals = $50 Subscription fee
  • 21 - 30 = $100
  • 31 - 60 = $200
  • 61 - unlimited = $350

Payment requests can include accrued commissions for only the previous month(s), up to the end of the calendar month prior to the request. The current methods of payment for all Traders are via bank wire transfer, PayPal and the ZuluTrade Mastercard. Payment Commissions are as follows:

  • $20 for PayPal requests up to $500 and a 3,9% fee (applied on the requested amount) for PayPal requests greater than $500.
  • $30 for each Wire Transfer within the United States.
  • $45 for each Wire Transfer outside the United States.
  • $20 for each payment to the ZuluTrade Mastercard.

Modest fees may be applied by financial institutions in the case of wire transfers. For more details, please consult your Bank.

Due to local restrictions, Japanese residents are eligible to register for a Trader account in ZuluTrade, however, no revenues will be generated for their trading activity.

AutoPay Service for Live Traders

Live Traders may select to receive their total outstanding commissions automatically in their Live Broker account at the 1st business day of each month.

To be eligible for the AutoPay Service, Traders must:

  • Operate on a Live trading account registered in a Broker participating in this Program.
  • Have completed the verification process by submitting a valid identification document as well as a proof of address.

Traders may enable the AutoPay service on the Revenue page of their account. On the 1st business day of each calendar month, they will be receiving automatically the accrued commissions of the previous month directly in their trading account. There are no minimum amount requirements nor fees apply if AutoPay is enabled.

Also please take the following under consideration:

  • To submit your request, ZuluTrade needs to be provided with sufficient evidence of the Trader credentials – typically we require a valid photo ID (passport, government identification card or government issued voter’s card) and a recent formal bill indicating your name and full current residential address.
  • Before issuing payments, all trades need to be checked against our Trading Compliance rules and relevant commissions need to be collected from our collaborating Brokers; the estimated time frame required to process a payment after a request has been made via our website is approximately 60 days.
  • An active account balance with a minimum of $100 is required before proceeding to request a payment.
  • Please ensure that your bank account details, PayPal account or ZuluTrade Mastercard is set up properly to avoid any complications with payment.
  • If for any reason your account has been terminated and you have the minimum of $100, you can request payment via email to
  • ZuluTrade values the safety of its Followers’ capital as an utmost priority. For this reason, Traders who apply abusive trading behavior, introducing high risks to their Followers, will be examined carefully and if deemed malicious, they will be refused compensation.
  • For each specific calendar month that a Trader presents a negative Total Monthly PnL performance (in pips or in $), the Trader will not be compensated. Total Monthly PnL includes unrealized PnL deriving from the end of month valuation of the Trader’s open positions.
  • Please note that payment must be requested within 30 days of receipt of the termination notification. Payment requests received after this period will be rejected.
  • Accounts with considerable deposits can be characterized from the Broker as Institutional due to the low spread offered. Compensation for such accounts is 0.1 pips per lot executed in a live follower account.

3. Trading Compliance Rules


When trading from a Demo account, please make sure your trading strategy complies with the following restrictions:

  • There is an upper limit of 100 market and 100 pending orders, as well as a limit of 5000 update signals, permitted to be broadcast to followers within a 24-hour interval.
  • Signals to create market/pending orders should have a minimum time interval of 5 seconds from the last one accepted in order to be broadcast to followers.
  • Maximum overall number allowed of open - market and pending - orders is limited to 100; any further signals will not be broadcast to followers.

Please note that none of the above restrictions apply to Traders operating on a Live Account.

Trading from MT4 Terminals

In addition to the above rules for Traders operating on MT4 terminals and outside of the ZuluTrade web interface, compliance with the following rules is also expected:

  • Closing partial lots is not supported.
  • Deleting Stop/Limit via EA (updating Stop/Limit from non-zero values to zero via EA) is not supported and related signals will not be broadcast to followers.
  • We support trading in Forex, CFDs, Indices, Gold and Silver.
  • Altering of mt4 trading records and statistics in any way is strictly prohibited.
  • Closing trades via the 'Close by' type is not supported.

Inappropriate Trading Behaviors

ZuluTrade values the safety of its Followers’ capital as an utmost priority. For this reason, Traders who apply abusive trading behavior, introducing high risks to their Followers, will be examined carefully and if deemed malicious, they will be refused compensation and may be banned from future use of ZuluTrade’s services.

In order to avoid extremes, Traders are required to comply with a minimum set of guidelines that aim to reduce risks, such as:

  • A Trader's maximum total draw-down should not exceed their profit in pips. This applies once there is an adequate record of Trader's performance, e.g. once overall PnL exceeds 1000 pips.
  • No positions should be allowed to reach losses of 700 pips or more. The use of stop loss at reasonable values is mandatory to ensure followers' safety. A careful and short use of Stop-Loss will also assist and promote you in our Ranking algorithm. Large stop-losses or no stop-losses is not appropriate trading.
  • ZuluTrade is not endorsing a winning trades ratio close to 100%. It is a potentially risky strategy as it may indicate exposure to unusually large draw downs.

Note that the above thresholds in pips are indicative for basic FX pairs. Please assume equivalent amounts for exotic pairs including XAU, XAG or CFDs.

Market Hours

No trading should be performed outside of ZuluTrade's Market Hours. Market Opens Sunday 22:00 UTC and closes Friday 22:00 UTC. When Eastern time is in daylight saving, market opens Sunday 21:00 UTC and closes Friday 21:00 UTC.

For CFD trading hours, click here.

CFD Symbol Contract size
Margin % Trading hours (UTC) Break time (UTC)
INDICES ESP35 €1 2 Daily from 08:00 until 16:30 None
GER30 €1 2 Daily from 07:00 until 21:00 None
US30 €1 1 SUN 07:00 - FRI 21:00 Daily from 21:15 until 21:30
ITA40 €1 2 DAILY 08:00 - 16:40 None
JPN225 ¥100 1.5 SUN 00:00 - FRI 21:15 Daily from 21:15 until 00:00
NAS100 $1 1 SUN 23:00 - FRI 21:15 Daily from 21:15 until 21:30
SPX500 $10 1 SUN 23:00 - FRI 21:15 Daily from 21:15 until 21:30
SUI20 CHF 1 1.5 Daily from 07:00 until 16:25 None
AUS200 AUD 1 1.5 Daily from 23:50 until 21:00 (FRI 20:45) Daily from 06:30 until 07:10
FRA40 €1 1.5 Daily from 07:00 until 21:00 None
UK100 GBP 1 1.5 Daily from 08:00 until 21:00 None
EUSTX50 €1 2 Daily from 07:00 until 21:00 None
COMMODITIES USoil 100 b 3 SUN 23:00 - FRI 21:45 Daily from 22:00 until 22:45
UKoil 100 b 3 MON 01:00 - FRI 21:45 Daily from 22:15 until 00:00
UKoil 100 b 3 MON 01:00 - FRI 21:45 Daily from 22:15 until 00:00
XAU/USD 1 oz 1 SUN 23:00 - FRI 21:45 Daily from 22:00 until 23:00
XAC/USD 50 oz 1 SUN 23:00 - FRI 21:45 Daily from 22:00 until 23:00
XPD/USD 1 oz 1.5 SUN 23:00 - FRI 21:45 Daily from 22:00 until 23:00
Copper 1000 lbs 1.5 SUN 23:00 - FRI 21:45 Daily from 22:00 until 23:00
NCAS 1000 mmBtu 2 SUN 23:00 - FRI 21:45 Daily from 22:00 until 23:00
TREASURY Bund €100 1 Daily from 07:00 until 21:00 (FRI 20:45) None
Expiration Dates

Oil and Natural Gas have a monthly expiration (please see the table below). Open positions will be closed at bid/offer at 22:00 GMT* (21:45 on Fridays). The only consequence of this is that clients will realize any floating P/L at the time the position is closed. There are no rollovers for any oil contracts offered. Also all pending stop and limit orders that are associated with the expiring contract will be cancelled.

Expiration Dates
2016 19-Dec 28-Dec 27-Dec
2017 19-Jan 30-Jan 26-Jan
20-Feb 27-Feb 23-Feb
20-Mar 30-Mar 28-Mar
19-Apr 27-Apr 25-Apr
19-May 30-May 25-May
19-Jun 29-Jun 27-Jun
19-Jul 28-Jul 26-Jul
21-Aug 30-Aug 28-Aug
19-Sep 28-Sep 26-Sep
19-Oct 30-Oct 26-Oct
17-Nov 29-Nov 27-Nov
18-Dec 27-Dec 26-Dec

Treasury products have a quarterly expiration (please see the table below). Clients that hold an open position on the Expiration Date will be closed at our bid/offer at 21:00 GMT for BUND, the only consequence of this is the client will realize any floating P/L at the time it is closed. There are no rollovers for all Treasury contracts offered.

BUND Expiration Dates
2016 7-Dec
2017 7-Mar

Copper is the only metal that expires once every other month.

Copper Expiration Dates
2017 22 Feb
24 Apr

4. Recommendations for Effective Strategies

  • Scalping is not Recommended.
    Due to the combination of different trading policies, configuration and rate feeds of various brokers to whom your followers may subscribe, scalping is not a recommended manner of sending signals to your followers. The practice frequently leads to very inconsistent results for different broker accounts.
  • Trading During News
    Many brokerage firms will often reject trading signals during News announcements that affect the market, resulting in possible discrepancies between the execution in your account and your live followers.
  • Trading with Unrealistic Amounts of Virtual Funds
    Apart from producing unrealistic trading results, no trader will ever be able to relate with your strategy if your starting balance is extremely high, or you trade huge amounts of lots.
  • Accurate Strategy descriptions
    Your Strategy description needs to be accurate and descriptive, so that your Followers can be aware of what to anticipate from your trading activity.
    As unexpected trading behavior is not appreciated by your ZuluTrade Followers, any Strategies that are not in accordance with your actual trading behavior will be disapproved, affecting your ZuluRank accordingly.
  • Up-to-date Status
    Your current Status should always be up to date. Please keep in mind that Followers can request for a Status Update, in which case you will be notified via email and expected to provide a status update as shortly as possible. Awkward silences are not friendly towards your ZuluTrade Followers, so please ensure timely updates are provided.

5. Suspension

Suspension of a Trader’s account may occur in two ways: temporarily as a warning, or permanently, leading to prohibition from using the service. Liability for any consequences from a Trader account getting suspended burdens the account holder.

Temporary Suspension

Traders linked with MT4 terminals that violate the Compliance Policy Rules, will be automatically disconnected from their MT4 accounts. They can try to re-connect after they have reconfigured their strategy according to the suspension reason.

Permanent Suspension

  • Inactive Accounts. A Trader account is considered inactive if there is no trading activity for a certain period of time.
    1. All Trader accounts that have been inactive for more than 3 months will be permanently suspended.
    2. Especially for Trader accounts linked with MT4 terminals, the permitted inactivity period is limited to 1 month.
  • Trader accounts that repeatedly get temporarily suspended.