Zulutrade Vs Etoro Comparison Chart
Here is a summarized Zulutrade vs eToro comparison chart for those of you who are considering investing in following traders on these 2 platform.
Zulutrade and eToro are among the pioneers of social trading and are perhaps still the 2 most popular out there today. The quality of traders or signal providers on both platforms are diverse, both are unique and have their own pros and cons and both of them as with all type of investments, come with their risk.
For those of you who are thinking of giving this a try, I strongly suggest that you start of with a demo first and get the hang of things and checking out how things work first before you invest any of your money.
|Signing Up||Easy to sign up and they allow only one demo per email only||Easy and free to join, 30 days demo validity|
|Live Account||eToro is the only broker here||Zulutrade own broker is AAAFx but you are not obligated to use them. They have many brokers that you can choose from or maybe already using that you can use to link up.|
|Cost and Commission Charges||eToro is a broker and you are charged for trading the spread. You will be paying the same spread regardless if you are entering a manual trade on your own or if you are using their copytrade service||Zulutrade provides the bridge for you to follow other signal providers across various brokers and charges a fee for this bridging service through your broker. Charges is typically 1 pip in addition to the spread charged by your broker. Spread varies according to your broker for the currency pair that you are following.|
|Trader’s trading history||Only the past 100 trades are available.||Each signal provider full trading history from the day they start is available in ZuluTrade interface.|
|Lot size||Not much of control when it comes to lot size. You copy the trader not only in their trades but also the size as part of a portfolio.||Very flexible with many features. You can set the lot size, limit the number of trades to open, which currency pair that you want to follow|
|Risk Management||You can assign the amount of money and only invest up to a maximum 20% of your total account size to follow a single trader. However, your risk per trade is in the control of the trader that you choose to follow.||You need some knowledge of lot size management and in total control. You decide how big the lot size, number of trades to open at the same time when following and which currency pair you would like to follow.|
|Performance of traders/signal provider||Traders on eToro trade with their own money so you can be somewhat assured that they are careful about how they trade (doesn’t apply to all traders)||Signal providers on Zulutrade can use demo accounts and EAs to send their signals thus tend to be riskier since it’s not their money and hence no risk to them.|
|Risk and Reward||Gain and loses are limited because you can only allocate a maximum 20% of your account to follow any single trader.||Can expect exceptional gains and losses too as you are willing to and understand the risks you are taking by following the signal providers here.|
|Tools For Checking On Traders||Only available for VIP. Not very transparent||Simulation tools available for you to back test on the signal providers based on their historical data.|
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