ZuluTrade Platform – How it works and How to use it
Do you want to find out how the ZuluTrade platform works, and all its features?
In this post, and all the related articles, you’ll find everything you need to use the ZuluTrade platform at its best.
To find out our thoughts on all these features, check our opinions on ZuluTrade. If on the other hand you’re interested in specific components of the ZuluTrade platform, check the menu at the bottom of this post, or the ZuluTrade Guides section.
Great, let’s begin.
In this post, we will examine the “My Account“ section, the page you access to when you open a ZuluTrade Demo Account.
ZuluTrade Platform – Support Access
Before we even begin, we’d like to point out the support that ZuluTrade itself offers its customers.
As we shall see, going forward with this tutorial, one of ZuluTrade’s strengths, is the support it provides, which can be defined as ready, refined and multilingual.
Inside the My Account section there are three very useful elements for beginners:
- Quick Tour: to quickly see the essential elements you can use within the section;
- Simplified Guide: to access a quick but very exhaustive and well translated guide, with all the features ZuluTrade has to offer;
- Chat: multilingual and available within practically all areas of ZuluTrade; you can immediately contact specialized personnel in order to have clarifications.
ZuluTrade Platform – “My account” Section Data
The first block of information we will analyse is at the top of the My Account section. This element is very important as it shows data relating to your account’s progress. Given its importance you will always find it at the top of the My Account area, regardless of the section you are in.
At the top left you can find your profile picture, taken from Facebook, if you registered through the Social Network. At the top right of the profile picture is your name, and the identification code of that specific account is under the name. You may have multiple accounts all registered to the same name, so in this drop-down window you can see a list of all your accounts and you can easily switch between them clicking on each one.
To the right of your photo you can find some important data on your capital:
- Capital: This item reports the value of your capital added to the value of the currently open market transactions.
Let’s clarify this concept with an example: if your balance is 10,000 dollars, but there are two open market transactions that are losing 100 dollars each, the Capital value will be of $9,800. With this value, you are aware at a glance how much you would profit or lose by closing all positions at any given time.
- Balance: The amount of capital excluding the currently open positions. Basically, what you see in the Balance field is how much you still have on your account’s “card”, while what you see in the Capital field is what you would have if you had to close all open positions.
- Margin: Useful when there are open transactions, it reports the amount of margin blocked by the broker to allow opening those trades, as we already saw in the Forex course on trading margins. The capital blocked by the broker depends on the leverage you are working with. The higher the leverage, the lower the required margin.
- Free Margin: The amount of free and available capital to open new positions. This value is obtained by calculating the difference between the “Capital” value and the one in the “Margin” field.
- PnL (Profits and Losses): How much money you have actually earned in the last 30 days, considering only the closed transactions, which have already been accounted for. If you have earned $1,000 with closed and accounted transactions, but you currently have open positions for -2,000 dollars, this value would still return $1,000,000.
- Margin Call -o- Meter: This bar, which shows a percentage value, calculates the account’s risk of exposure to the Margin Call. A calculation is made assuming the worst case scenario, based on the historical data held by ZuluTrade of the traders you have decided to follow, replicating their operations within your portfolio. The formula for the calculation is a proprietary formula of ZuluTrade.
ZuluTrade considers values below 50% as safe. Values ranging from 50% to 100% are still acceptable, and values above 100% are remarkably risky.
The Margin Call -o- Meter is a very interesting data point, even though it is a calculation of ZuluTrade based on, as we shall see, approximate performance details. However, it is useful to always look at it after having tweaked the settings, especially at the beginning.
If you are an inexperienced investor, you can use the suggestions provided by ZuluTrade as a reference. Honestly, all investors, over time, based on their risk propensity and the desired returns, should give these percentages the appropriate importance.
ZuluTrade Platform – My Account Control Panel
To access the control panel, click on the icon on the far left of the screen, the one that looks like an odometer. This is the most important area for the performance analysis of your Social Trading account.
In the left section of the page, you can see the situation of the entire portfolio, under it, is the list of connected and enabled Traders (Signal Providers) within it.
Both for the entire portfolio and for each individual trader you can see the amount of money based on the open positions, how much you earned for positions which have already been closed at that moment (the same as the “PnL” data seen before), and the ROI value, or Return on Investment, i.e. how much the individual Signal Provider is making you profit in percentage, or how much the entire portfolio is profiting. For instance, a trader who has made you earn $100 on an account which started from $1,000 will have a ROI of 10%.
You can also find an indication of the Follow Mode, that is, if you are following them in “pro-rate” or “fixed” mode, and the gear icon to access the quick settings section.
The gear setting icon allows you to:
- Change the capital you wish to invest on the Trader;
- Change the compensation mode (pro-rate or fixed);
- Change the maximum number of open positions;
- Vary the function of ZuluGuard;
- Activate and customize the capital protection notification;
- Remove the trader.
In any case, clicking on the portfolio or on a single Signal Provider, the Equity Line chart will be shown on the right. This Equity Line only reports the account’s performance based on the closed and accounted transactions, without including the trend based on the currently open operations.
With the time keys you can choose what data segment to observe, switching from all the available data, to last year only, or the last 6 months, 3 months, 1 month, or even the last 7 days, or day.
There are only two buttons left:
- Follow Trader, which takes you to the Traders page, where you can find the list of all Signal Providers,
- And the Simulate My Portfolio, which is a very interesting function.
We will cover both in other chapters.
ZuluTrade Platform – TRADING Section
Now, let’s skip the Settings tab, and let’s open the Trade tab in the “My Account” section.
We must admit, this is the section we know the least. With Social Trading, there is no need to trade personally, because you choose the traders who will do it for you.
In any case, ZuluTrade allows you to open positions personally. Here, you will find all the available currency pairs on Forex and CFDs, with the relative values of Money and Letter (Ask and Bid). Clicking on Buy or Sell, a pop up window will open, to insert the order’s details.
ZuluTrade offers you two types of visualizations, an advanced one, which is what you see in the above image, where each box contains a currency pair with the possibility to click on the sale and purchase price, with the spread in the centre, reported in pips between Money and Letter (the only cost for your trade).
Each box can be positioned wherever you want, thanks to the Drag & Drop technology, to obtain the most suitable configuration for your trades.
With the simple view, shown in the image below, you only have the complete list of tradable instruments on ZuluTrade. With this visualization too, clicking on money or letter will open the window to place the order.
Unless you are a professional trader, we highly recommend NOT trying to trade on your own. Trading is a very complex activity, which is why you can make a lot of money. It’s better to get the professionals to do it for you, replicating their orders.
ZuluTrade Platform – POSITION Section
Let’s move to the Position Tab.
Within this section of the ZuluTrade “My account” area you are given a detail on open trades and pending orders, i.e. those already entered in the system that will go to market only if certain conditions, normally the price, are met.
– Open positions
Within the open positions section, you will find the list and details of the open and not yet closed transactions, divided by Signal Providers.
Here, you can find the following details:
- the currency pair of the trade
- if it’s a buy or sell
- the lot size of the operation
- the precise date on which it was opened
- the entry price
- the stop price set by the Signal Provider
- the profit price
- how much the asset is trading for at that moment
- The current profit or loss, both in pips and in money.
An important thing to point out, is that all operations can be sorted based on each of the above-listed parameters, in either ascending or descending order. You can indulge yourself in ordering all trades according to their opening date, or maybe by entry price, or by current profit. It only depends on the analysis you’re carrying out at any given moment.
Among the other important features within the Open Positions section, you can find:
- “Close All”: On the top right. Clicking it will automatically close all trades opened by that Signal Provider.
- “Lock Trade”: The lock icon shown next to each open trade: Using this feature, you will disconnect the trade from the trader who generated it. Any operation made by the Signal Provider on that trade will no longer be replicated on your account. This means you will have to manually manage the operation. Obviously, if Take Profits and Stop Losses have been set, those will be kept. Activating the lock blocks the trader’s control over the individual “locked” trade, but you will continue to replicate all his other operations, new and old. As already mentioned, if you wish to manually manage trades, be careful.
- X: Also next to open trade, it permanently closes, manually, only the single trade.
At the top of the box you will also find a summary of the overall situation of the open positions, and you can choose whether to view all operations or filter them by Signal Provider, or by Details, which lists the operations without dividing them by Signal Provider, or by Summary, which displays the operations grouped according to the currency pairs we are currently operating on.
In the Summary option, given a currency pair, such as EUR/USD, we can see how many transactions are currently opened, what are the lot sizes used on the total transactions, if the overall exposure is Long or Short (2 Long trades for one lot and 1 Short Trade for one lot give a net exposure of one Long Lot), what is the average price, and the total profit or loss in pips and money.
To finish with this section, there is also a “Close all open positions” button to close all the open trades made by all Signal Providers (this button is for critical situations), and the On-Off button for the sound effects played when opening and closing positions.
Checking the Order sub-section will display the list of pending orders entered by the Trader.
Pending orders are orders that will be automatically executed when certain price levels are met. In this sub-section you can see if there are any and what their parameters are. Like before, this section also allows to sort the orders according to the value of each column, both in ascending and descending order.
Just like the open trades section, you can also close all pending orders by clicking on the button at the top right “Close all pending orders”, or you can act on the individual operation by clicking on the lock icon or on the “X”, the functioning and the logics are the same as just described above.
Within these two macro areas, open positions and orders, you will find the Sound on-off lever. This function enables or disables the acoustic notifications triggered when something in the section changes, because new trades are added to the list.
ZuluTrade Platform – My account HISTORY
Let’s see the last tab, and one of the most interesting ones, of this chapter dedicated to the “My account” section of ZuluTrade, the History tab.
This Tab is divided into several subsections: History, Trade History, Cancelled Orders Log. Thanks to this section you will be able to track and analyse the historical trend of your account.
This section displays a chart and a list of operations. The chart in the History section is completely customizable.
You can decide the time intervals to be analysed, whether it should display all the available data, or just the data from last year, down to the data from the last day. By clicking on the calendar symbol and selecting the start and end date, you can also view a specific period.
In the drop-down menu on the right, above the chart, you can see the data trend of the entire account by clicking on Total Profit, or go to a histogram chart to see the profits or losses of each Trader who operated on your account.
By checking the name of the single trader in the drop-down menu, you can customize your analysis for a single Signal Provider or for multiple Traders, depending on the type of analysis you want to perform. By selecting traders like this, you will have a graphical representation of their performance, not a histogram, but an equity line, much more representative of the historical performance of their operations.
You can also select the “Active Traders” option, to only see the performances of traders you have copied on your account.
Using the Currency drop-down menu, positioned further to the right, you can further limit the analysis data, asking the system to only display data relating to one or more specific currency pairs.
Below the chart, on the left, are three buttons. Let’s analyse the first two:
- Profit in pips;
- Profit in (Euro, Dollars – the currency you have chosen for your account).
By selecting one of these two buttons you can see the evolution of the profits on your account, in Euro or in pips, and acting on the previous drop-down menu you can decide whether to see these values directly as a total on your account, or by contribution from the various traders, each represented by their equity lines.
Selecting the pip profits and just one trader, we can see an interesting detail.
Two lines appear on the graph, a blue one and an orange one. The blue line represents the pips earned or lost from trader’s operations, the orange one is the Follower line, i.e. the pips you have earned or lost on your account. The difference may depend on slippage, or by many other factors, as we shall see later.
In any case, knowing how to view this data is very important.
If you click on the monthly button, the performance of the account or of the individual traders will be merged to a monthly basis and will be identified by a histogram. These are two very interesting ways to analyse equally interesting data.
Below the Equity chart you can find the list of operations performed on your account, grouped by all Signal Providers, or divided by each one. Clicking on the tab of a specific trader will flag it, as in the Moderator drop-down menu earlier.
Finally, as you can see, you can download the history data as an Excel file.