![]() | This article may require cleanup to meet Wikipedia's quality standards. The specific problem is: Article requires fixing of structure, format, and grammar; fixing of potential neutral point of view issues; fixing of statements which may violate verifiability; and general encyclopedic cleanup.(November 2020) |
![]() | |
Company type | Private company |
---|---|
Industry | Financial services |
Founded | Virginia, United States, 2007 |
Founders | Leon Yohai Kosta Eleftheriou |
Headquarters | , |
Key people | Tajinder Singh Virk(CEO) |
Products | Social trading platform |
Number of employees | 75-100 |
Parent | Finvasia Group |
Website | www |
ZuluTrade is a Greek financial technology company that operates an online and mobile social and copy trading platform. The platform allows users to copy other traders in the forex. [1] [2] [3] [4] As of 2014 [update] ZuluTrade had around one million users and an executed trading volume of over $800 billion. [5]
ZuluTrade was founded in 2007 by Leon Yohai and Kosta Eleftheriou. [6] Eleftheriou left the company in 2008.[ citation needed ] Yohai traded on the FXCM trading platform prior to founding ZuluTrade. He created a software connected to FXCM's API that allowed him to copy trading strategies in his realm of interest. The concept was then put into beta in 2008. [6] By 2009, the company had over 4,500 "expert" trader (or "signal provider") portfolios whose trading strategies could be copied by the platform's user base. [7]
In 2011, ZuluTrade was listed among The Daily Telegraph 's "Start-Up 100" in the category of "Finance, Payments and Ecommerce." [8] The company also unveiled several new features including the ability to follow other followers (rather than just signal providers) [9] and the requirement for signal providers to be profitable in order to receive payment. [10] In November 2012, ZuluTrade redesigned their website and added more new features including ZuluGuard. [11] By the end of 2013, the company had around 120 employees, 40 of whom were designated for customer support. [6]
In September 2014, Zulutrade expanded in Japan through the acquisition of a regulated investment advisor, Market Crew Investment Advisor Co., Ltd., and launched its collaboration with local FX retail brokers. The first Japanese broker was Arena FX Co., Ltd. [12] In March 2015, ZuluTrade Group announced that the platform was awarded an EU Portfolio Management License from the European Union. The designation made the company a licensed portfolio management company in the EU. [13]
In April 2019, the company launched Macaso, a copy-trading service in Japan. It partnered with local broker Excite One to launch the service. In 2020, ZuluTrade expanded to United States which made it regulated in three territories in the finance including Japan, the European Union, and the US. [14]
In December 2021, ZuluTrade joined Finvasia Group. Finvasia has been working to increase its reach in Europe, North America and Middle-East in various ways in order to create a complete ecosystem for retail and institutional investors.
Finvasia has a dozen brands in financial services industry and reached millions of investors around the world. It has offices in over 5 countries, serves clients in more than 150 countries and is regulated by over a dozen regulators around the globe. [15]
In November 2022, the company announced to omit profit-sharing fees from its investors account. [16]
Recently, the organization has been acquired by Finvasia. [17]
In Feb 2023, ZuluTrade integrated with MetaTrader 5 and ActTrader to broaden the available options of platforms for traders. [18]
In March 2023, the company partnered with Seychelles-based FxCentrum and added X Open Hub to its offering of trading platforms. [19]
In July 2023, ZuluTrade, collaborated with the well-regarded Forex and CFD broker, Hextra Prime. [20]
In March 2023, ZuluTrade announced it had received the approval of the Financial Services Commission (FSC) of Mauritius (Licence No. IK21000018) to provide wealth management services. [21]
The ZuluTrade service is a social and copy trading online platform that allows users to mimic the investing strategies of trading "experts" in forex markets. [1] [2] The user base is typically split into two categories: signal providers and followers. Signal providers are generally traders that have developed a strategy willing to share and can be copied by their followers. [6] [22] Followers can also mimic strategies of the portfolios created by other followers. [9] Signal provider compensation fees are based on the success and popularity of their trading strategies. [23]
The platform also has several features, including ZuluGuard, that automatically unfollows a signal provider if their trading strategies change. Lock Trade allows users to verify the execution of a trade after the signal has been received. The website also features several social network-like features including comments and forums. [11] The platform also has a feature called ZuluScript which allows users to create scripts that designate specific parameters as criteria for trading robots (known as "Expert Advisors") to automatically start making trades. [24] Additionally, ZuluTrade operates a binary option social trading platform. [5]
ZuluTrade provides rankings of investor performance and allow investors to immediately observe and copy other trader's portfolios. [25] This is provided by simulator which shows overall profit, alerts user if a margin call occurred and even allows user to download a spreadsheet of all the simulated trades. [26]
eToro is a social trading and multi-asset investment company that focuses on providing financial services. Its headquarters are located in Central Israel, and the company has registered offices in Cyprus, the United Kingdom, the United States, and Australia.
IG Group Holdings plc, trading as IG Group, is a United Kingdom-based online trading provider, offering access to spread betting and CFD trading, which allow traders to bet on the direction of equities, bonds and currencies without owning the underlying assets.
Direct market access (DMA) is a term used in financial markets to describe electronic trading facilities that give investors wishing to trade in financial instruments a way to interact with the order book of an exchange. Normally, trading on the order book is restricted to broker-dealers and market making firms that are members of the exchange. Using DMA, investment companies and other private traders use the information technology infrastructure of sell side firms such as investment banks and the market access that those firms possess, but control the way a trading transaction is managed themselves rather than passing the order over to the broker's own in-house traders for execution. Today, DMA is often combined with algorithmic trading giving access to many different trading strategies. Certain forms of DMA, most notably "sponsored access", have raised substantial regulatory concerns because of the possibility of a malfunction by an investor to cause widespread market disruption.
Matchbook FX was an internet-based electronic communication network for trading currency online in the Spot-FX or foreign exchange market. It operated between 1999 and 2002.
MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients. The software consists of both a client and server component. The server component is run by the broker and the client software is provided to the broker's customers, who use it to see live streaming prices and charts, to place orders, and to manage their accounts.
City Index is a global spread betting, FX and CFD Trading provider. City Index is part of the Nasdaq listed StoneX Group and is regulated by the Financial Conduct Authority in the UK, The Australian Services and Investment Commission in Australia and Monetary Authority of Singapore (MAS) in Singapore. The company has offices in the United Kingdom, Australia, and Singapore.
Currensee was a financial services company based in Boston to serve as a social network for foreign exchange traders. The company provided mirror trading services to its clients that allowed them to make trading decisions based on other traders actions. The company was acquired by Oanda in 2013, which decided to close down the service a year later in October 2014.
Mirror trading is a trading selection methodology that can be carried out in both the foreign exchange and the stock markets; however, this is much more common in trading in the foreign exchange market.
Social trading is a form of investing that allows investors to observe the trading behavior of their peers and expert traders. The primary objective is to follow their investment strategies using copy trading or mirror trading. Social trading requires little or no knowledge about financial markets.
CitiFX Pro was Citigroup's online foreign exchange market trading platform for retail and small institutional traders including commodity trading advisors, broker-dealers, money managers, and hedge funds. CitiFX Pro discontinued offering services to clients in June 2015 and sold all U.S. accounts to FXCM, and international accounts to Saxo Bank.
FxStat Group or FxStat, is an online social networking service in financial services headquartered in United Kingdom, London and the name FxStat comes from a combination of Forex and Statistics. FxStat was founded in April 2010 and focusing on the foreign exchange market, Stock market, and Commodity market. The focus was initially on social networking only, but later expanded to trading statement track record assessment, following successful traders portfolio, copying top performing traders, reading news, and sharing trades through a single platform to FxStat Group, Facebook, and Twitter.
Copy trading enables individuals in the financial markets to automatically copy positions opened and managed by other selected individuals.
Hirose Financial UK is a UK-based retail foreign exchange broker that provides foreign exchange trading on margin through its own online trading platform called LION Trader and through MetaTrader 4. It is a subsidiary of Japanese foreign exchange company Hirose Financial that provides online trading services.
FXOpen is a retail and institutional forex broker offering online trading services via MetaTrader 4, MetaTrader 5 and TickTrader trading platforms. It provides access to the electronic communication network (ECN) to trade currency, commodity, indices and stock CFDs. FXOpen companies operate in Australia, Saint Kitts and Nevis, the United Kingdom and Cyprus and have representatives in a number of other countries.
ActivTrades is a UK-based brokerage firm providing an electronic trading platform to trade Forex, Contracts for Difference (CFDs), and spread betting. It provides services to retail and institutional traders via the electronic trading platforms ActivTrader, MetaTrader 4 and MetaTrader 5.
Integral Forex, a branch of Integral Securities, is a Turkey-based financial trading services provider specialized in foreign exchange (forex) and contract for difference (CFD) brokerage.
Leverate is a software as a service provider for foreign exchange brokers. It provides both electronic trading platforms and back-office software to manage a company's operations through its various subsidiaries. It has offices in Cyprus, Hong Kong, Israel, Ukraine, China, Poland, Bulgaria and Germany.
Forex Club is a group of companies based in Saint Vincent and the Grenadines participating in the retail market of Contract for difference, Foreign Exchange Trading. The company uses the Libertex web and mobile trading platform in addition to MT4 and its structure includes financial and educational companies.
Finvasia is an Indian fintech company headquartered in Mohali, Punjab. The company is owned by brothers Sarvjeet Singh Virk (CMD) and Tajinder Virk (CEO). The organization has expanded its hands into healthcare services by acquiring Ginihealth and into retail FX space by acquiring major investment platform Zulu Trade where the existing CEO of Finvasia Tajinder Virk became Zulu's interim chief.
International Capital Markets is an Australian forex and CFD broker launched in 2007. It is currently headquartered in Sydney, Australia. It currently sponsors several football clubs such as Bayer Leverkusen and other teams from Bundesliga and La Liga.