Oanda and ZuluTrade’s partnership is a welcome development that will benefit new traders in the long run.
If you are new in the Forex trading business, go through our Oanda Review and ZuluTrade Review to have a clue into what they have to offer you and how they can help you trade like a pro.
How to Connect Your Oanda Account with ZuluTrade
If you follow the step-by-step guide below, you will connect your Oanda Account with ZuluTrade in no time:
Step 1: Open Your Oanda Account
If you are a beginner, open a demo account to learn about the platform and trading tricks before trading on a live account.
With Oanda, you can open a demo account (73.5% of retail CFD accounts lose money) to learn and trade with virtual accounts without taking unnecessary risks with your money.
Step 2: Verify and Fund Your Account
When you are done with the demo account and are ready to open an Oanda live account (73.5% of retail CFD accounts lose money), you must verify and fund your account by following the process below:
- Provide proof of identity.
- Provide proof of address.
- Make the initial deposit.
Oanda doesn’t charge a minimum deposit amount. You can fund your account through several payment options such as wire transfers, credit cards, or eWallets.
Step 3: Open a ZuluTrade Account to Connect with Oanda
Visit the ZuluTrade Website (74-89% of retail CFD accounts lose money) to open a trading account. Choose Oanda as your broker.
If you currently don’t have an account, ZuluTrade will direct you to the broker’s homepage.
The account opening process may take between 2 and 3 days to complete.
If you open a live ZuluTrade account, you must keep a minimum of $100 in it to keep the copy trading going at any time.
Otherwise, you can open a demo account to study how ZuluTrade works.
Step 4: Choose a ZuluTrade Account Type
You can be a copy trader (copy other traders) or a signal provider (Trader account).
With Oanda, ZuluTrade Classic is the only ZuluTrade copy trading account available. The Zulu Profit sharing account type isn’t available on it.
ZuluTrade Classic offers the following trading conditions:
- Standard volume-based commissions.
- Fully customized or manual copy-trading.
- Recommended for advanced users.
You can open a ZuluTrade free demo account (74-89% of retail CFD accounts lose money) to try out the broker if you wish.
Step 5: Define Your Trading Strategy
Once you have set all the fields mentioned above, you can choose your ZuluTrade strategy according to the type of traders you want to attract or your preference.
ZuluTrade allows every trading technique such as Algo or Scalping Trading.
Where Can You Connect Oanda to ZuluTrade?
ZuluTrade offers you the possibility to connect to EU-based Oanda customers only.
Keep in mind, though, that Oanda doesn’t accept users from some countries such as Belgium. Check our Oanda review dedicated section for the list of countries it doesn’t accept.
Why Should You Connect Oanda to ZuluTrade?
Some of the reasons why it’s advisable to connect Oanda to ZuluTrade are:
- ZuluTrade has a user-friendly interface that makes it effortless and intuitive to use.
- You can create a list of traders you can choose from and rank them by metrics such as trading instruments, the number of followers, and their success rates.
- It provides protection tools such as ZuluGuard that works as an advanced stop loss/take profit tool.
- It is available for mobile and web users. It is also compatible with EAs and MetaTrader 4.