hi MillieJ, what do you think of your broker ?
what made you choose it?.. what are the pros and cons ?
a lot of SP use AAAfx but i never heard of them ..
thanks.
Zulutrade - autotrading forex with signals
- Thread starter MillieJ
- Start date
hi MillieJ, what do you think of your broker ?
what made you choose it?.. what are the pros and cons ?
a lot of SP use AAAfx but i never heard of them ..
thanks.
You just answered your own question.
Cyprus offers 'pay for a rubber stamp' regulation. There's zero fund segregation, zero book checking, etc.
I would strongly suspect Zulu and AAFX have a backroom deal. It's a red flag that the top signal providers are nearly all using this same shop which is practically unknown outside of Zulu. Likely demo accounts being falsely flagged as real (thus demo/synthetic execution - perfect fills, zero slippage, etc).
To answer both your comments:
I chose aaafx after a bad experience with alpari, saying bad in terms of slippage and high charges...
along with that they have no commissions to use zulutrade, relatively good spreads and fast executions...oh and full refund policy in cases of high market volatility. well more or less that, apart from this, i think i exhausted the facts why it is the most popular broker among the zulutraders.
as for the HQ-they are based in Greece, as far as i know, but they are MiFID regulated and this speaks for itself for safety.
I think the new website design is heading into the right direciton. I had some minor problems at first , could not find some settings , but then i got used to it and now i'm not using the old site anymore.
Even though trade copying is not new, Zulutrade is a good business model but signal providers are a joke. In 99% cases they run EAs from suspicious countries to make a quick buck. After they go under, they register with another name and start all over, which you can also see under their profiles. Some people have registered over 20 accounts. Only people who have never traded and know squat about trading could register with such signal providers. Someone who does 70% drawdown on a regular basis, makes ten winning traders with 1 - 5 point profit and one losing trade with 120 point loss is NOT a trader. They're a gambler! No money management whatsoever. The 1% are people who believe they can trade and make small winnings here and there and they're buried deep down inside the pile of ~love~ of automated signal providers. Which brings me to my point here, milk this thing until you can. I'll dig up my old mql codes this weekend and put together a few lousy EAs and see how much money can I make from zulutrade, collective2, currensee, ayondo, zipsignals...
EURJPY Technical update:
The pair made a strong bounce last week and it is tapping the declining trendline on the weekly. If this pair closes above 104.50 in the next few days, we are in for a rally. If a reversal candle takes place this week, we will be looking for a short entry.
I only took one position in Zulutrade due to the reason above to limit DD. However, I took three positions in my live account as I am comfortable with the risk i'm taking. If the pair breaks the declining trendline in the weekly, I am looking to add positions on a retrace.
The pair made a strong bounce last week and it is tapping the declining trendline on the weekly. If this pair closes above 104.50 in the next few days, we are in for a rally. If a reversal candle takes place this week, we will be looking for a short entry.
I only took one position in Zulutrade due to the reason above to limit DD. However, I took three positions in my live account as I am comfortable with the risk i'm taking. If the pair breaks the declining trendline in the weekly, I am looking to add positions on a retrace.