In this article we will try to compare two most important Social Forex trading platforms – Collective2 vs Zulutrade. Few years ago we wrote text about Zulutrade platform but now we need to compare with Collective2.
Before we analyze in detail this two platforms, see main facts :
- And Collective2 and Zulutrade connect broker’s account with managers accounts and offers signals to traders (investors).
- Zulutrade is free. They charge using spreads in brokerage account.
- Collective2 costs around $100 (standard) flat monthly fee.
- Most users on Zulutrade trade Forex and at Collective2 trade stocks, futures, forex.
- Using Zulutrade trader can receive unlimited number of signal providers but using Collective2 only few.
- Collective2 traders have average draw down below 10%. Zulutrade providers have huge draw down and do not care enough about money management.
Collective2 automated trading platform: is it reliable and scam-free?
Collective2 Social Forex Trading Signals Platform
Are you searching for a seamless and scam-free automated trading platform? If yes, then Collective2 can be a good recommendation for the traders like you! Needless to mention, it’s quite a reputed platform that has more than 19,000 active traders and the platform claims to use around 58,000 different strategies. Please note that this automated trading platform was launched in the year of 2001. The founder of Collective2 or C2 platform is none other than Matthew Klein who is quite famous and eminent in the arena of retail algorithmic trading space.
Also note, this platform works on the very same principle as other available social investment networks like ZuluTrade and etoro. As a trader, you will be asked to select and follow a system developer. Next, you need to allocate portions of your capitals that will be simply the copy/mirror trades of that developer. It’s up to you how much amount of money you decide to trade for mirroring. Based on your allocated traded amount and mirror trade value of the system operator, your final profit/gain will be calculated.
Understand the broker model of Collective2
Opening a trading account with C2 is an extremely simple and hassle-free process. It can be opened via C2’s broker partners. For example, C2 has partnerships with a wide majority of well-known broker partners like FXCM and NinjaTrader. Depending on the scheme of these broker partners, you may be offered lucrative incentives from time to time. But, please keep in mind that these incentives are solely provided by the broker partners. The C2 platform itself doesn’t offer any incentives to the clients for opening the trading accounts.
Rules and fees
C2 is nothing but an investment social network that’s loaded with plenty of automated and algorithmic trading strategies. The platform supports trading in Forex, stocks, and futures. It mainly focuses on the market of UK, US, and Asia.
To ensure adequate gain and profit, it’s absolutely important to pick and follow the right auto trading strategy. Your trade performance will be solely dependent on it.
As a subscriber, you need to first create a trading account with Collective2. Upon successful account creation, you can browse and search for profitable auto trading strategies. There isn’t a fee for opening an account with Collective2 or browsing through their trading strategies. However, once you’ve successfully found a right trading strategy and you are keen to follow that auto trading system, then a monthly charge of £75 will be deducted. Likewise, system operators who want to list their trading strategies for the subscribers to follow, they are also needed to pay the listing fee. The recommended minimum account deposit amount for Collective2 is £10,000.
Are there a mobile trading option for Collective2?
As of now, Collective2’s mobile app isn’t ready yet. However, the platform claims to launch its mobile trading app soon for the users.
Help and support
You can contact the company by dialing the helpline number i.e. 001 914 610 3979. Also, there’s an email id where you can email your concerns/queries to the customer support team i.e. firstname.lastname@example.org.
Zulutrade is one of the ways you can achieve automated trading. It allows you to learn and implement skills used by experienced Forex traders. Additionally, you will be able to share and leave feedback. It allows you to copy the trades of the best traders which was the initial idea of Leon and Kosta in 2007. Within two years Zulutrade had gained popularity and people were able to mint money out of it. In 2014 the developers saw it fit to make some improvements in their website and introduce new features.By then it had 120 employees which were a good start. Additionally, they entered into a significant partnership with Spot option.In 2015 the company had become respected and legitimate. Read on this review and learn more.
Minimum Initial Deposit
Zulu trade offers you one of the lowest deposits.The minimum amount you can deposit is $1.It is convenient if you are a newbie right? Furthermore, you can sign up for free and acquaint yourself with their Demo simulation account. Gradually, you can make higher deposits once you are confident enough with using the platform.
Spreads And Commission
When you trade using the platform you will get to realize there is a normal spread which you will be charged though it can also be low when using Zulu trade brokers. However, some other brokers might charge you a commission for every trade that you make using the platform.
Buying and selling price differ between the traders especially during the period when there is high volatility. Time and the pair of currency can also influence this difference.
Leverage can increase your earnings but you need to be careful if you haven’t mastered it well. This is because you might incur greater losses. Don’t be too hasty to use higher leverages because you are exposing yourself to greater risk. I would recommend that you use a leverage of 1:100 to be on the safe side.
Other Trading Fees
You might be asking yourself if you might incur additional fees when using Zulu Trade? Well, intraday traders are not charged but you can be charged for a swap fee or overnight rollover.
How It Works
Zulutrade allows you to copy strategies of top-rated traders to your advantage. Besides the currently trade in Binary options, Forex, stocks and other commodities like oil.
Well, normally the user interface is divided into two; signal providers and followers. The followers can copy the strategies of signal providers of which their compensation is determined by how successful is their trading strategies.
-lock trade-Once you receive a signal this feature allows you to verify your trading.
-calendar-It allows you to be updated with all key events in the financial market worldwide.
-Zuluguard-It is a protective feature that shields copy traders from risks that can result from malicious trades from those traders whom they are following.
-Automator-It gives you notifications through your email based on your customized rules.
-Social network features-this is a section where you can give your reviews or view feedback from other users.
-Margin call-o-meter-This gives an estimation on chances of your account running out of money.
-Cryptocurrency-It allows traders to make predictions on the cryptos
-Zuluscripts- It is an automation feature that allows you to create scripts which will enable you to execute more than one trade.
Well if you require a signal provider you can use Zulu rank calculation which is based on the age of signal provider, sharp ratio, trade activity, frequency of trader logs.
Zulu Trade Vs Competitors
Zulu trade has a lot more to offer than other systems. It allows you to receive margin calls notification for simulated trades. Besides, you have access to many traders worldwide which gives you a variety of options to copy from. It also allows you to assign a certain amount of money to signal trader that you want to follow up has been made easier since you can check your account performance any other time.
Zulutrade accommodated Android,iPhone and Windows apps. You can download from any version of the operating system and you are good to check for your account performance, look out for traders to copy or even close your trades.
Methods Of Payment
Methods of payment usually vary depending on your broker. Some of these methods include Zulu trade MasterCard, PayPal, and Bankwire transfer.
When you are fully set to open an account you will be presented with two options to choose from:
-Classic- If you are a pro this is for you. You will get access to voluminous commissions and customized trading.
-Profit sharing-This is suitable for newbies who are still learning by copying others to make their Trading.
When you visit Zulu trade page you can access demo account. All you need to do is to enter the required details and you are set to start learning from the advanced traders. When you have grasped adequate trading skills you can choose to open a live account.
How To Become A Signal Provider
Well everyone yearns to become a signal provider because if you are having a good number of followers you will be earnings significant commission. Therefore you can become one by using the following tips:-
1. Set up a good portfolio and explain your strategy
2. Trade with a live account
3. Be quick when responding to feedback about your strategy
4. Meet any necessary criteria
You can enjoy additional features on Zulu trade. This include profit calculator, margin calculator, economic calculator and you have access to news.
Safety and Security
Zuluguard is the ultimate protection feature that will protect you from erratic traders. It monitors trading behavior and if possible it removes any misbehaving trader to secure your income.
Regulation And Licence
Zulu trade is fully licensed and it complies with the EU. You can enjoy auto trading with minimal risks.
The following are its benefits
1. It’s free
2. Variety of brokers to choose from
3. Many traders to copy and follow
4. Lower fees
5. Positive reviews from Forex
6. Ability to comment of signal provider page directly
The following are the drawbacks
1. Signal providers may not be using live account hence you are at risk to lose your money
2. Signal providers are not vetted
3. Beginners have a Challenger in money management
Trading is only limited to ZuluTrade trading hours. This runs from Sunday 22:00 UTC-Friday 22:00 UTC.
Contact And Customer Support
They have reliable customer support that is willing to attend to your issues at any time of the day. Their phone number can support up to 10 countries but you can still visit their website and file your claim.
Zulu Trade Verdict
This is a reliable company that is receiving massive traders worldwide. You don’t need external brokers to use the system because they offer brokerage services. It is user-friendly and you can take your time from coping others until you are fully set to begin trading.
The final verdict:
The main mission for Collective2 and Zulutrade is creating an automated trading platform for the users. In this comparison Collective2 vs Zulutrade, we saw good and bad things. My personal opinion that if you are forex trader and you need signal you can find few interesting on Zulutrade for free. IF you are stocks or futures trader – try Collective2. My recommendation is to always see what is average monthly return and what is max draw down and than to figure out is some system is suitable or not for you.