ZuluTrade is a leading copy trading provider that connects to dozens of Forex brokers and offers the broadest choice of copy trading strategies and related tools. Is ZuluTrade the best in class? Or should you consider the six ZuluTrade alternatives I have carefully selected from my in-depth review?
Overview of ZuluTrade Alternatives
Pepperstone
In Summary Great ECN execution on MT4/5, cTrader, TradingView and Pepperstone proprietary platformPepperstone, founded in 2010 and headquartered and regulated in Australia, the U.K., and Dubai, is probably the most well-known ECN Forex broker in the world. As an ECN broker, Pepperstone offers raw spreads and low commissions. Taken together, Pepperstone’s “Razor” account offers one of the most competitive costs of trading in Forex that you will find anywhere. In addition to their global headquarters in Australia, Pepperstone also have presences in London, England, where they enjoy full regulation by the Financial Conduct Authority (FCA), and in Dubai, where they are regulated by the Dubai Financial Services Authority (DFSA). Pepperstone is also regulated by the Cyprus Securities And Exchange Commission (CySEC) in Cyprus, the Capital Markets Authority of Kenya (CMA) in Kenya, the Securities Commission of The Bahamas (SCB) in The Bahamas and the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in Germany.
Pros & Cons
- Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
- Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
- Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone (Not available for EEA/UK/AU clients)
- Maximum leverage globally 1:400 (1:30 for UK/EU clients)
- Demo accounts have 60-day time limits
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsAvaTrade is one of the largest Forex / CFD brokers and well-known for offering their clients a choice of fixed or floating spreads. They have a very high and strong level of regulation. AvaTrade is directly regulated in Ireland (and by extension, the European Union), Australia, Japan, South Africa, and the British Virgin Islands. Outside the European Union, Ava offers maximum leverage on Forex currency pairs as high as 400 to 1. AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. 2 bonds and 6 ETFs are also on the menu.
Pros & Cons
- High quality educational offering via AvaAcademy
- Excellent choice of trading platforms catering to various trading needs
- Broad asset selection and cross-asset diversification opportunities
- Well-regulated and trusted broker with oversight from a central bank
- Trading costs competitive but nothing special
IQ Option
In SummaryPros & Cons
- Maximum leverage up to 1:500
- A choice of payment processors with one-hour withdrawals
- Versus pairs to trade assets against each other
- Competitive trading fees with swap-free accounts for all
- Limited educational content for beginners
| | | |
Regulators | ASIC, BaFin, CMA (Kenya), CySEC, DFSA, FCA, SCB | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | CySEC |
Year Established | 2010 | 2006 | 2013 |
Execution Type(s) | No Dealing Desk, NDD | Market Maker | Market Maker |
Minimum Deposit | |||
Average Trading Cost EUR/USD | 1.1 pips | 0.9 pips | 0.8 pips |
Average Trading Cost GBP/USD | 1.4 pips | 1.5 pips | 0.9 pips |
Average Trading Cost Gold | $0.15 | $0.29 | $0.12 |
Trading Platform(s) | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | Other, Proprietary platform+ |
Islamic Account | |||
Negative Balance Protection | N/A | ||
Get Started Visit Website73-89% of traders on margin lose | Visit Website | Visit Website |
| | | |
Trading Platform(s) | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | Other, Proprietary platform+ |
Regulators | Yes ASIC, BaFin, CMA (Kenya), CySEC, DFSA, FCA, SCB | Yes ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | Yes CySEC |
Minimum Deposit | |||
Automated Trading | |||
Social/Copy Trading | N/A | ||
Average Trading Cost EUR/USD | 1.1 pips | 0.9 pips | 0.8 pips |
Get Started Visit Website73-89% of traders on margin lose | Visit Website | Visit Website |
Important Factors in Finding ZuluTrade Alternatives
I have focused my analysis of Zulu trade alternatives on the five categories outlined below, which are the most interesting to traders.
Here are the five most important factors when evaluating ZuluTrade alternatives:
- Fees are crucial since they directly impact profitability and provide insights into the strategies a broker supports or discourages. Therefore, they are considered the primary factor.
- Account Opening: The minimum deposit requirements can vary. However, the account application usually consists of a user-friendly online process with minimal personal data collection and steps for mandatory account verification.
- Deposit & Withdrawals: Geographic restrictions can apply to non-banking options, but all competitive brokers offer bank wires and credit/debit cards as standard options.
- Trading Platforms: Algorithmic and copy trading support are paramount. MT4 is the market-leading choice, but some brokers market their proprietary alternatives.
- Markets & Products: Traders must ensure their broker offers the markets they wish to trade.
Pepperstone
Besides the embedded MT4/MT5/cTrader copy trading services, Pepperstone offers Myfxbook Autotrade and DupliTrade.
Fees
The minimum Pepperstone spreads in its commission-based Razor account are 0.6 pips; this includes commissions.
Pros | Cons |
|---|---|
Competitive Forex fees | Fixed administration fee on trades maintained past ten trading days |
Low-cost equity trading | |
Rebate program available |
Account Opening
The secure online application form onboards new clients, who may also use their Google or Facebook accounts to open a Pepperstone account easily.
Pros | Cons |
|---|---|
User-friendly, digital account application | None |
Fast and easy account opening process | |
Ten account base currencies |
Deposit & Withdrawals
The Pepperstone payment processors are bank wires, credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, and Union Pay for Pepperstone deposits & withdrawals
Pros | Cons |
|---|---|
There are no deposit fees. | Currency conversion fees |
There are no withdrawal fees. | |
Same-day withdrawal processing |
Trading Platforms
Pepperstone offers upgraded MT4/MT5 trading platforms, cTrader and TradingView, with full algorithmic and copy trading support. Capitalise AI is a key piece of software available here.
Pros | Cons |
|---|---|
Capitalise AI for code-free algorithmic trading | None |
28 MT4 upgrades plus Autochartist | |
Choice of third-party copy trading providers |
Markets & Products
Traders can diversify their portfolios with 1,200+ CFDs, including ETFs and currency indices, made available for dealing.
Pros | Cons |
|---|---|
Good Forex selection with deep liquidity | No bonds or other fixed-income assets |
Well-balanced | Limited cryptocurrencies |
Premium client services |
Verdict
Pepperstone bests ZuluTrade with Capitalise AI and its choice of copy trading services.
To read more about Pepperstone, find our up-to-date Peppesrtone Broker Review
AvaTrade
Ava Social offers quality service to copy traders using MT4, which is also available from the user-friendly AvaTradeGO mobile app.
Fees
AvaTrade maintains a commission-free cost structure, but minimum spreads are 0.9 pips, a little higher than average.
Pros | Cons |
|---|---|
Reasonable Forex fees | Inactivity and administration fee |
Competitive commodity spreads | |
No hidden costs |
Account Opening
Traders can open an account with AvaTrade by providing their name, email, and phone number.
Pros | Cons |
|---|---|
User-friendly, digital account application | None |
Fast account opening process | |
Seven account base currencies |
Deposit & Withdrawals
Deposit and withdrawal methods are bank wires, credit/debit cards, Skrill, Neteller, WebMoney, and PayPal for AvaTrade deposits & withdrawals
Pros | Cons |
|---|---|
There are no deposit fees. | Currency conversion fees |
There are no withdrawal fees. | |
Trusted withdrawal process |
Trading Platforms
The AvaTrade choice of trading platforms is MT4, MT5, WebTrader, AvaOptions, AvaTradeGO, Ava Social, and the mobile apps of MT4/MT5.
Pros | Cons |
|---|---|
MT4 Guardian Angel plugin | None |
Trading Central plugin | |
VPS hosting for low-latency 24/5 market access |
Markets & Products
AvaTrade presents a well-balanced asset selection, including ETFs, bonds, and FX options, ensuring possible cross-asset diversification.
Pros | Cons |
|---|---|
Excellent choice of ETFs | None |
Well-balanced | |
Capitalise AI for code-free algorithmic trading |
Verdict
AvaTrade trumps ZuluTrade in terms of its choice of trading platforms.
Learn more about AvaTrade from our updated AvaTrade Broker Review.
OctaFX
OctaFX has developed a proprietary copy trading service and a dedicated mobile app catering to 21M+ accounts, making it a market leader in this sector.
Fees
The commission-free cost structure at Octa Traders enjoy a competitive commission-free pricing environment with minimum spreads from 0.6 pips. Swap-free trading is also attractive for traders holding positions for medium—and long-term strategies.
Pros | Cons |
|---|---|
Competitive trading fees | None |
Swap-free trading for all traders | |
A status program that lowers spreads |
Account Opening
Traders must submit their name, email, and desired password. They may also use their Google, Facebook, or Apple accounts to open an account.
Pros | Cons |
|---|---|
Digital account application | None |
Fast verification process | |
Available in 180+ countries |
Deposit & Withdrawals
OctaFX offers bank wires, credit/debit cards, Skrill, Neteller, and cryptocurrencies.
Pros | Cons |
|---|---|
There are no deposit fees. | None |
There are no withdrawal fees. | |
Ultra-fast withdrawal processing |
Trading Platforms
Traders can use the MT4 and MT5 trading platforms or the proprietary trading and copy trading apps.
Pros | Cons |
|---|---|
Autochartist plugin for MT4 | None |
User-friendly mobile apps | |
Web-based trading |
Markets & Products
OctaFX delivers 230+ highly liquid assets, focused on current opportunities such as names trending on social media, catering well to its core market.
Pros | Cons |
|---|---|
Highly liquid assets | Limited Forex and cryptocurrencies |
Generous bonuses and promotions | |
Quality introductory educational lessons |
Verdict
OctaFX leads ZuluTrade with its swap-free offer and trading incentives.
You may find additional info. about Octa, in our updated Octa Broker review.
IQ Option
IQ Option is home to 48M+ trading accounts, executes almost 1.4M trades daily valued at nearly $300, and has monthly client withdrawals exceeding $20M.
Fees
The commission-free trading fees at IQ Option start from 1.0 pips, making it one of the more expensive copy trading brokers, but within a reasonable range.
Pros | Cons |
|---|---|
Transparent cost structure | Absence of positive swap rates |
Low-cost ETF trading | €10 inactivity fee after 90 days of dormancy |
Reasonable commission-free cost |
Account Opening
The IQ Option, online application form, only requires the country of residence, email, and desired password.
Pros | Cons |
|---|---|
Digital account application | No volume-based rebates |
No upselling of better trading conditions for higher deposits | |
Fast approval process |
Deposit & Withdrawals
Iq Option traders may deposit and withdraw via bank wires, credit/debit cards, Skrill, Neteller, Paypal, Advcash, Perfect Money, and Web Money.
Pros | Cons |
|---|---|
Low minimum deposit and withdrawal thresholds | Potential currency conversion fees |
No deposit fees | |
Ultra-fast payment processing |
Trading Platforms
IQ Option offers its proprietary trading platform as a desktop client, a web-based alternative, and a mobile app.
Pros | Cons |
|---|---|
User-friendly interface | No MT4 and advanced trading tools |
Social trading tool Trader Sentiment, and copy trading tool Community Live Trades | No algorithmic trading |
Built-in chat function | No platform customization |
Markets & Products
IQ Option offers a balanced asset selection featuring fewer but highly liquid trading instruments.
Pros | Cons |
|---|---|
Balanced asset selection | No bonds or other fixed-income assets |
Fast order processing of 0.6 seconds | Limited Forex selection |
High-paying affiliate program |
Verdict
IQ Option overtakes ZuluTrade with its trading community, trading, and withdrawal stats.
Read more about IQ Options, in our updated "IQ Options Broker Review".
Bottom Line
Our review of ZuluTrade alternatives concluded with the following results:
- Pepperstone excels with its trading infrastructure.
- AvaTrade provides a choice of trading platforms.
- OctaFX allows swap-free trading for all traders.
- IQ Option has a massive trading community with $20M+ monthly withdrawals.
