17 🥇 Best ZuluTrade Forex Brokers – ( Reviewed ) 2020

 

 

 

According to research in South Africa, ZuluTrade is one the most known and used copy trading platforms in existence. This list of the 17 Best ZuluTrade Forex brokers in 2020 will get you started on selecting the right ZuluTrade broker for you.

ZuluTrade now has more than a million users, and more than $800 billion in executed trades and allows traders to get involved in the Forex market by copying the trades of professional and expert traders and profiting from their expertise.

ZuluTrade converts the advice of professional and talented traders from all over the globe into an executed trades on your behalf  by allowing the client to subscribe to traders they like (called signal providers) and then have ZuluTrade make an automatic trade on their behalf based on the signal that provider recommends.

With ZuluTrade, there is no need to monitor the market because hundreds of experienced traders are doing it for you.

You as the trader just needs to subscribe to a signal provider you believe will help make successful and profitable trades and allow their trades to be automatically triggered in your account in real time.

This is list is not ranked in any particular order but is rather a comprehensive list of great ZuluTrade brokers to choose from.

 

A review about Alpari
 

Alpari

 

Alpari was established in 1998 and was relaunched in 2014.  They are based in Mauritius and regulated by the Financial Services Commission (FSC) of the Republic of Mauritius as well.

They give access to more than 250 markets in Forex, Stocks, Indices, Metals and Cryptocurrencies and boasts more than $1.3 trillion in trading turnover per year.

Alpari offers both the MetaTrader 4 and MetaTrader 5 platforms on Desktop, Web and Mobile formats and they give lots of value adds for both the beginner and experienced trader.

Alpari also provides demo accounts and a great variety of educational resources as well.

 

Features

 

  • Maximum leverage as high as 1000 to 1
  • Over 60 Forex currency pairs and crosses available for trading
  • Low min deposit
  • Choice between ECN and market-maker execution models
  • Regulated by an offshore industry center (FSC Mauritius)

 

Pros and Cons

 

Pros Cons
Demo Accounts and Social Trading Limited educational resources
Great copy trading broker Lack of resource tools
Diverse selection of tradeable assets High fees
Good support in over 30 languages Withdrawal fees
Low minimum deposit

 

A review about FXTM
 

FXTM

 

FXTM was founded in 2012 and is based in Cyprus. FXTM is a licensed and well-regulated broker worldwide, from the UK, South Africa, Belize, Cyprus and Mauritius as examples.  They also boast an impressive list of awards.

They also have offices in London, Germany, Poland, France, Spain, Italy, Turkey, China, Thailand, South Korea, Malaysia, India and Nigeria.

FXTM offers tight spreads in a wide range of financial products and derivatives as well as trading in all currency pairs.

 

Features

 

  • Allows hedging
  • Fast and easy account opening
  • Low min deposit
  • Great selection of educational tools
  • Low stock index CFD fees
  • Spreads as low as 0.1 pip for a standard account and 0 pips for ECN based trading accounts

 

Pros and Cons

 

Pros Cons
Low minimum deposit Inactivity and withdrawal fees
Fantastic Customer Service High CFD fees
Fast and easy account opening Limited product portfolio
Well regulated Broker
Very competitive Forex fees

 

A review of FP Markets
 

FP Markets

 

FP Markets is an Australian CFD and forex broker founded in 2005. It’s regulated by the Australian ASIC and the Cypriot CySEC in Cyprus.

FP Markets provide both the MT4, MT5 platforms for traders to choose from as well as offering over 50 currency pairs, gold, silver, CFDs, Indices, stocks and cryptos to trade with.

 

Features

 

  • Leverage is 500:1 when trading currency.
  • Offer Direct Markets Access (DMA)
  • ASIC & CySEC Regulated broker
  • Demo Account for beginning traders
  • 50 plus currency pairings to trade

 

Pros and Cons

 

Pros Cons
Easy and fast account opening Limited product portfolio
Low trading fees High CFD fees
Fast execution of trades High minimum deposit
Low Forex fees High fee for international bank withdrawal
Good platform options

 

XM.com Review in south africa
 

XM

 

XM Global is a highly awarded brokerage firm that was established in 2017. They offer more than 1000 financial instruments which includes Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFD Forex trading with over 55 pairs available in forex trading.

They are highly regulated by the International Financial Services Commission.

XM offers both MetaTrader 4 and MetaTrader 5, the most widely used platforms in trading. They also offer demo accounts to improve your trading skills.

Some of their awards are:

Best FX Service Provider for 2020 awarded by City of Wealth Management Awards 2020,

Best Customer Service Global 2019 awarded by Capital Finance International Magazine,

Best Market Research and Education Global 2019 awarded by Capital Finance International Magazine, and

Best FX Service Provider awarded by City of London Wealth Management Awards 2019

 

Features

 

  • Offers negative balance protection
  • Low min deposit
  • Allows scalping
  • Used by over 70,000 traders
  • Offers Negative Balance Protection
  • Allows Hedging

 

Pros and Cons

 

Pros Cons
Low withdrawal fees Inactivity fee
Easy and fast account opening Average forex fees
No withdrawal fee
Great educational tools and resources

 

A review of AvaTrade
 

AvaTrade

 

AvaTrade was founded in 2006 with its headquarters in Dublin, Ireland.

The company now has four offices around the world, located in Japan, Australia, Ireland, and the British Virgin Islands with sales offices also in Paris, Milan, Madrid, Mongolia, Beijing, Nigeria, Santiago, and Johannesburg.

AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa.

AvaTrade offers more than 250 instruments which include more than 60 currency pairs, major stock indices, cryptocurrencies, commodities, bonds, individual shares and ETFs.

 

Features

 

  • A range of automated trading platforms and EA compatibility
  • Client funds are held in segregated accounts for increased security
  • Desktop, tablet, mobile and web based trading with MetaTrader 4, MetaTrader 5 and AvaTradeGO
  • Competitive spreads offering
  • Trading websites in more than 20 languages

 

Pros and Cons

 

Pros Cons
Easy and fast account opening Limited research tools
Great educational tools Poor support telephonically
No withdrawal fee Administration fee
Free deposit and withdrawal options Inactivity fee
Low trading fees Offers only CFD’s, Forex and Cryptocurrencies

 

<centerA HotForex Review in south africa

 

HotForex

 

HotForex was founded in 2010 offers 6 core trading accounts and every account type offers commission-free trading for Forex pairs.

HotForex has its headquarters in Cyprus with several global satellite offices in Dubai, South Africa and offshore entities in St Vincent and the Grenadines.

In 2015 the company was listed as on the Top 100 Companies by World Finance Magazine and the received the award for Business Excellence.

Forex traders can access 150+ trading instruments across Forex, Commodities, Indices, Shares, Bonds and Cryptocurrency CFDs.

 

Features

 

  • Great range of markets
  • Regulated by ASIC, CySEC, FCA
  • Offers Negative Balance Protection
  • Additional Civil Liability Insurance
  • Lots of premium MetaTrader tools offered

 

Pros and Cons

 

Pros Cons
Fast, easy, fully digital account opening Only Forex and CFD products
Low minimum deposit Two of their entities are unregulated
Commission free accounts available Only 56 shares available
Low Forex fees
Competitive spreads

 

A review on Plus500
 

Plus500

 

Plus500 is an Australian brokerage firm founded in 2008, with its head offices in Sydney.

Plus500 offers over 2000 instruments with relatively low spreads and no commissions.

They have one of the highest rated CFD trading apps on Apple’s App Store and Google Play and are known to have very easy to use and user intuitive platforms while still offering good advanced tools.

Plus500 is regulated by the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

 

Features

 

  • Offers access to over 2,000 trading instruments
  • Very low spreads and commissions
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

Pros and Cons

 

Pros Cons
Easy to use platform Inactivity fee
No withdrawal fee Minimal research tools
Low trading fees Minimal educational resources
Highly regulated Limited product portfolio
Very competitive pricing Lack of platforms

 

A review about Pepperstone
 

Pepperstone

 

Pepperstone is an Australian Forex broker founded in 2010 that offers over 57,000 trading clients and boast an average daily transaction size of $12.55 billion.

Pepperstone is regulated by two top-tier financial authorities, the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

 

Features

 

  • Offers a range of online trading platforms
  • Regulated by the Financial Conduct Authority (FCA)
  • Low min deposit
  • Top Tier regulation
  • Award winning customer support

 

Pros and Cons

 

Pros Cons
Low fees in spreads and comms Limited range of instruments
Good offering of trading platforms Limited risk management tools
Free deposit and withdrawal No stockbroking. Only Forex and CFDs
Low minimum deposit Basic news flow, no fundamental data

 

Read 17 🥇 Best Over the Counter (OTC) Forex Brokers – ( Reviewed ) 2020

 

A review of IC Markets
 

IC Markets

 

IC Markets was founded in 2007 by a team of financial professionals. They are based in Sydney and acquired an Australian Financial Services License (AFSL) with the Australian Securities and Investment Commission (ASIC) in 2009.

IC Markets are an ECN broker, with tight spreads in its offering of 63 forex pairs and 41 CFDs on indices, metals, cryptocurrencies and futures

IC Markets offers several trading platforms to choose from including MetaTrader4 (MT4) and MetaTrader 5 (MT5), as well as the suite of cTrader platforms SpotWare System.

Security is an utmost priority and they have their own high-level web security system over their platforms.

 

Features

 

  • Great variety of Educational materials
  • Selection of sophisticated trading platforms
  • Low min deposit
  • True ECN broker with institutional grade liquidity
  • Wide range of tradeable products
  • Good customer service with 24/7 Support

 

Pros and Cons

 

Pros Cons
Easy and fast account opening No investor protection
Low forex fees Only Forex, CFD, and crypto trading
Free deposit and withdrawal Lack of research tools
Low Forex fees

 

A review about AxiTrader
 

AxiTrader

 

AxiTrader is an Australian based broker founded in 2007.

They have a monthly client trading volume of around $100 billion with more than 40,000 registered traders in over 100 countries.

 

Features

 

  • Allows hedging
  • Low spreads starting from 0.0 pips
  • Allows scalping
  • Strong leverage up to 400:1
  • Wide range of Forex Markets
  • Award winning customer service

 

Pros and Cons

 

Pros Cons
No Deposit and withdrawal fees Only offers Forex and CFDs
Fully digital account opening Limited research tools
No inactivity fees Slow email support
Low Forex fees
No minimum deposit

 

A review about OANDA
 

Oanda

 

Oanda is an American forex broker and technology-driven financial services corporation that was founded in 1996.

Oanda was one of the early online forex brokers and its claim to fame it that it was the first to have a fully automated forex trading platform since they always felt that the internet could open trading up for everyone.

Although they were originally based in the US, they have a strong London based office and huge presence in Europe so are included here. In fact, Oanda operates across eight global financial centres, with clients in over 196 countries. It has attained licenses from major regulatory jurisdictions, including: The UK, US, Japan, Canada, Singapore, and Australia

 

Features

 

  • Heavily regulated under 6 major regulatory authorities
  • Client funds are segregated
  • Partners with the likes of Google, KPMG, TESLA, Airbnb, FedEx, IATA, PWC, Twitter, Expedia and others
  • Choice between ECN and market-maker execution models
  • Regulated by an offshore industry center (FSC Mauritius)

 

Pros and Cons

 

Pros Cons
Easy and quick digital account opening Only FX and CFDs
Low Forex Fees High withdrawal fees for bank transfers
Web trading platform is easy to use Poor customer service
No withdrawal fees in most cases ID verification can slow down account opening
No minimum deposit

 

A review about FXCM
 

FXCM

 

FXCM was founded in 1999 and is a UK-based broker that also have offices in the UK, Germany, Australia, France, Italy, Greece, Hong Kong, and South Africa with affiliated offices in Canada and Israel.

FXCM has grown to be one of the leading providers of online trading and is known for fast trade executions and advanced and innovative technology.

FXCM offers a proprietary Trading Station platform for Desktop, Web and Mobile, as well other third party platforms like MetaTrader 4, NinjaTrader and ZuluTrade.

The broker also offers great value adds such as QuantConnect, MotiveWave, AlgoTerminal, Sierra Chart and others as well.

 

Features

 

  • A huge offering of platforms including their proprietary Trading Station
  • Wide range of tradeable markets, research and educational resources
  • Top Notch charting and technical analysis tools
  • Great technical research tools
  • High quality educational tools

 

Pros and Cons

 

Pros Cons
Low Stock and ETF fees Limited product portfolio
Fast and easy account opening Poor mobile platform
Low trading fees High AUD/USD trading fee
No withdrawal fee
Excellent charting and tech analysis tools

 

A review about Swissquote
 

Swissquote

 

Swissquote Bank is a Swiss forex broker and a major European bank. They offer financial instruments like stocks, energies and commodities as well as sixty currency pairs.

Swissquote has world class client support in multiple languages such as Chinese, English, French, German and Spanish over multiple channels.

They offer 3 different platforms to choose from and they are also optimized for mobile devices with full functionality over IOS, Android and Windows mobile operating systems.

 

Features

 

  • Boasts 330,000+ traders
  • Allows scalping
  • Allows hedging
  • Demo Account offered
  • Highly regulated by FCA

 

Pros and Cons

 

Pros Cons
No Inactivity fee High trading fees
Low Forex fees Not all research tools are free
Access to a great variety of markets Platform can be confusing
Flexible trading platforms
Great market research tools

 

A Easy Markets review
 

EasyMarkets

 

Founded in 2001, EasyMarkets is highly regulated for trading in CFD and forex.

EasyMarkets   is well known for its web-based service which has been designed with user experience in mind.

EasyMarkets give access to trading CFDs on commodities, forex, shares, indices and cryptocurrency.

They have a wide offering of educational and training resources, as well as such beginner-friendly features such as a low freeze rate and deal cancellation.

 

Features

 

  • Offers a low Freeze rate
  • Offers deal cancellation
  • EasyTrade tool to set their risk limits, durations of trade and potential payouts
  • Provides latest news headlines
  • Provides a financial calendar
  • Trading Central charting and signals

 

Pros and Cons

 

Pros Cons
Free guaranteed stop loss Fx spreads start at 1 pip
Fixed spread account No variable spread accounts
Commission free account Platform can be confusing
Strict regulation Deal cancellations not available on MT4
Negative Balance protection

 

InstaForex Review South Africa
 

InstaForex

 

InstaForex is a unique brokerage and puts a lot of effort in making investing fun and motivating.   They also offer programs to try and motivate new traders with bonuses to boost trading capital.

InstaForex also offers a 40% bonus for every deposit and up to 100% for the initial deposit.

InstaForex also has their own proprietary platform for social trading called ForexCopy. Traders can earn commissions for providing their trades for copying while followers can copy deals of successful and experienced traders

They boast more than seven million traders and offer a variety of platforms which are backed up by a good, user friendly mobile app as well.

InstaForex also offers a wide range of trading tools and in-house MT4 plugins such as Pattern Graphix and Superior Forex Desk.

 

Features

 

  • More than 300 instruments
  • PAMM system
  • Free VPS
  • Pattern Graphix
  • Provides a financial calendar
  • Trading Central charting and signals


Pros and Cons

 

Pros Cons
Well regulated No US clientele
Commission free Market maker
Top notch copy trading system Restricted leverage in some countries in Europe
Wide variety of instruments
Free VPS
Depth of training materials

 

 

A review about FBS
 

FBS

 

FBS was founded in 2009 and serves clients from over 190 countries with its headquarters in Cyprus.

FBS offers some of the lowest capital requirements for their traders with a great selection of account types and are under strict regulation from the CySEC and the IFSC. They also provide a wide selection of trading education videos and articles to help skill up any level trader.

FBS shows its excellence by winning over 40 prestigious awards, with some of the recent ones:

Best broker in the Middle East, 2018

Most Transparent Forex Broker, 2018

Best Forex Trading Account, 2018

Best Copy Trading Application Global, 2018

Best Forex Broker Asia, 2018

Most Progressive Forex Broker Europe, 2019

Best Forex Broker Vietnam, 2019

 

Features

 

  • Over 14 000 000 traders and 370 000 partners
  • Commissions covered by FBS
  • Leverage of up to 1:3000
  • Offers bonuses to new traders
  • Low Spreads and comms (from 0 pips)

 

Pros and Cons

 

Pros Cons
Low Deposit for account opening Higher than normal spreads
Super-fast trade execution Fees on both deposits and withdrawals
Free demo account
Highly responsive customer service

 

A review about MarketsX
 

MarketsX

 

MarketsX, formerly known as Markets.com, was founded in 2008. The company first launched as GFC Markets but rebranded as Markets.com in 2010 following the merger between Safecap Investments LTD, the owner of GFC Markets, and TradeFX and then rebranded again in 2015 when Playtech PLC acquired the company to rename itself MarketsX.

As a result, the company underwent a massive restructuring in 2016, selling its binary options platform TopOption, and reducing its workforce.

MarketsX is regulated by four major regulators, (the CySEC, FSCA, ASIC and the FCA) under several different operating names.

MarketsX offers more than 2,200 assets covering Stocks, Indices, Currencies, Commodities, Cryptocurrencies, Bonds, ETFs and even IPOs from three trading platforms and allows traders to trade commission-free, with costs just related to spreads.

 

Features

 

  • They offer more than 70 global currency pairs to trade with
  • No Forex trading commissions
  • They offer more than 2,200 assets to trade with
  • Regulated by 4 major financial regulators
  • Good customer service with 24/7 Support

 

Pros and Cons

 

Pros Cons
Large range of trading instruments Lack of telephone support
Fixed spreads Low leverage
Commission free accounts Lengthy processing of deposits and withdrawals
Low minimum deposit
Fast execution

 

 Read 17 🥇 Best Forex Brokers with 0 pip spreads – ( Reviewed ) 2020

 

In conclusion

 

Forex trading involves watching the foreign currency markets, being aware of world economics, and buying and selling different pairs of currencies based key indicators, charts and patterns on what is happening in the market.

With a social trading network, such as ZuluTrade, rather than studying the market and trading yourself, a signal provider is chosen and followed to do the market analysis and trading for you.

With the ZuluTrade platform the advice of a trader’s chosen expert is then converted and traded directly into their own account.

This is great because it doesn’t require a lot of expertise or time from the trader and it’s a great way for a beginner trader to become familiar to the world of Forex.

This has opened up Forex trading to a whole world of new clients who want to get involved but may not yet have the experience or expertise to trade for themselves.

The benefit of using ZuluTrade is that the chances for profit are usually much better than trading on your own and it gives you the opportunity to employ a good risk management strategy. These 17 best ZuluTrade brokers in 2020 are worth investigating further, according to research in South Africa.

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