ZuluTrade has many other social trading platforms in which the investors can follow certain trades and these traders are automatically copied and carried on the client’s account.
This is amazing for so many traders especially beginners who are just learning the basics of trading and are not confident about the strategies to be followed to increase profits and minimize losses.
That client simply follows particular trades by using successful strategies and this platform will automatically implement winning strategies on the client’s account. Simply saying, to follow a trader means that one can copy the trades positions whenever the trader opens or closes their account. This relies on the extent of the account and the number of trades that got copied into the account.
Gain or Loss from trades
If anyone follows a single trader if trade succeeded then it earns a profit and if it doesn’t it will show a loss. The main benefits of following multiple trades are differentiation or spontaneous hedging. This means that if some trades go bad while others are performing well, the total losses are balanced out as the losses or risks are scattered all around. In other words, gains are enough to recover the losses.
Now here’s something most traders seldom tell about this Trade.is that they charge additional fees and in some cases spread to trade. So any profit someone gains and copies by following a trader on the platform is often invalidated through the additional costs.
The registered financial advisor is advising anybody to open a demo account and start playing around. This will help to get familiar with the platform and traders will become more efficient in managing their accounts. However, it is the individual’s responsibility to maintain the account level and not be exposed to high risk.