Explore DupliTrade and ZuluTrade to discover unique features for automated trading. This article compares their safety measures, innovative tools, and user experiences.
With more than 17 years of experience in the forex market, AvaTrade is a top pick for modern forex traders, providing excellent services that meet their current needs. One notable feature is copy trading, allowing users to invest their funds and earn passive income.
Avatrade offers two popular copy trading platforms, DupliTrade and ZuluTrade. DupliTrade is known for its transparency and user-friendly interface, while many brokers widely use ZuluTrade and boast advanced features like Zuluguard and Automator.
In this article, we'll explore DupliTrade and ZuluTrade in-depth, covering their features and performance, strengths and weaknesses, and how to engage in copy trading on both platforms through Avatrade.
Avatrade can be called one of the most well-rounded brokers that support almost all trading styles. Not only allowing hedging, scalping, and expert advisor (EA), Avatrade also completes their service with One-cancels-the-other order (OCO) and AutoTrading in many variants of automated trading systems.
AvaTrade was founded in 2006, with the primary mission to empower people to trade with confidence. If traders are still confused about what is the best broker for supporting trader's trading, AvaTrade perchance option of traders, because it has been evaluated and honored for some of the industry's most remarkable financial and technological achievements that it provided to clients.
In 2019, the Dublin-based broker got achievement from Daytrading.com as The Best Forex Broker 2019. Besides, the company is honored as Best Forex Broker, Best Bitcoin CFD Trading Provider of the year, and Best Affiliation Programme in the European area.
Furthermore, for traders who have high mobility, AvaTrade provides many platforms that allow traders to trade using laptops and mobile phones. The availability of the free Autochartist tool in the platforms is the best support for both novice and experienced traders because it makes it easier for them to find trading opportunities without the need to glance at charts all day.
The Autochartist free signal is provided in Gold Account, Platinum Account, and AVA Select. By opening an account in AvaTrade, traders don't have to pay for getting a full Autochartist service. Autochartist itself is a market scanner tool that can detect trading signals from various technical perspectives.
Traders can access AvaTrade in many variants of platforms, such as AvaTradeGO, MetaTrader 4, MetaTrader 5, Automated Trading, Mac Trading, Web Trading, Mobile Trading, and AvaOptions.
In terms of regulation, AvaTrade is regarded as a superior broker because it has a lot of credible licenses. That way, even with deposits of up to ten thousand dollars, security can be guaranteed. Applying the Segregated Account system, AvaTrade is regulated by the Central Bank of Ireland (No.C53877), ASIC Australia (No.406684), JFSA Japan (No.1662), and South Africa (FSP 45984).
Can traders lose more than their deposit abruptly in the event of high volatility? AvaTrade explicitly answers no, as traders have negative balance protection.
With a minimum deposit of USD100, AvaTrade offers various leverage depending on the trading instruments; whether it is forex (starts from 30:1), indices (starts from 20:1), commodities (starts from 5:1), ETFs (starts from 5:1), or cryptocurrencies (starts from 2:1).
AvaTrade has committed to a set of values in relation to customers. Therefore, the company provides the best trading experience, offering multilingual customer service and the most sophisticated and user-friendly trading platform.
New traders can also learn forex trading in the Education tab on AvaTrade's official website. Traders will find a wide collection of articles, video tutorials, and more tools that will assist them every step of the way. It is an important requirement as the forex market might be a bit overwhelming and even scary at times, so traders need to make sure that they are fully prepared to begin trading in the real account.
There are many types of account types provided by AvaTrade. There is also an Islamic Trading Account, which is uniquely provided for Muslim Traders. Islamic account type is similar to a regular one with one key difference; it is not subject to any special fees or interests (swap-free), which sits well with the finance principles of Sharia Law.
If traders have felt confident for forex trading, traders can choose AvaTrade as an ideal choice. The minimum deposit and various platforms offered to make it a suitable destination for even beginners who would like to try forex trading for the first time.
DupliTrade
DupliTrade is a copy trading platform that automatically copies successful traders in real-time. Based in Cyprus, the company helps you diversify your investments by following proven traders.
The platform has different strategy providers chosen through a careful auditing process. With DupliTrade, you can automate your trading easily in a few steps.
DupliTrade Features
- User-Friendly Interface: DupliTrade is made to be easy for everyone, whether you're new or already know a lot about trading. It has a simple setup with tutorials to help with any questions. You can do the trades yourself or let it happen automatically. The goal is to make it easy for you to pick and follow trading strategies while also learning from experienced traders.
- Safety Measures: DupliTrade puts a strong focus on safety by teaming up with brokers who follow the rules. This makes sure that when users trade, it's with brokers that stick to the regulations. Traders can trust that their trading on the platform is secure and legitimate because of the partnership with regulated brokers.
- Auto-Execution Mirroring System: DupliTrade has this cool feature called an auto-execution mirroring system. With this, users can copy the trades of chosen strategies without doing anything. The system makes the trades happen in the user's trading account automatically. This makes it easy for users to copy successful strategies, saving time and ensuring trades are done on time without having to watch all the time.
- Audited Traders Only: DupliTrade makes sure that the people offering trading strategies on their platform are legit and reliable. They only showcase traders who have been audited, meaning their track record has been carefully checked. Traders can trust that the strategies available for copying have been thoroughly looked into, making the platform more dependable overall.
- 24/5 Support: Even though DupliTrade is automated, they offer customer support 24/5. The support team is there to help users with any questions or problems they might have. Users can get ongoing help, making sure that any concerns or questions are quickly taken care of and making trading smoother.
DupliTrade Performances
- Lightning Speed Execution: DupliTrade is proud of its super-fast trade execution, making sure orders get processed quickly. This helps trades happen on time and efficiently. Traders can benefit from this speedy execution, lowering the risk of slippage and making the whole trading process more efficient.
- Access to Real-Time Trading Data and Extensive Historical Logs: On DupliTrade, users get real-time trading data, giving them the latest info on how the market is doing. Plus, there are detailed logs from the past that users can check to see how things performed. Traders can use this info to make smart decisions based on what's happening now and learn from what happened before. It helps them tweak their strategies and get better over time.
Pros of Using DupliTrade
- Carefully chosen strategy providers: DupliTrade picks its strategy providers wisely, ensuring that only reliable and proven performers make it to the platform.
- Regulated by CySEC: DupliTrade is regulated by the Cyprus Securities and Exchange Commission (CySEC), offering an added layer of security and adherence to regulatory standards.
- No fees whatsoever: DupliTrade distinguishes itself by not charging any management, setup, or monthly fees. This fee approach can be appealing to traders looking to minimize costs.
- Detailed provider profiles: Each strategy provider on DupliTrade has a comprehensive profile with trading statistics, providing transparency for users to assess performance before making decisions.
- Reliable partner brokers: DupliTrade partners with reputable brokers, adding to the platform's credibility and ensuring users engage with trustworthy brokerages.
- Robust simulator: DupliTrade provides a simulator tool enabling users to assess the historical performance of strategy providers. By choosing a funding amount, time frame, and provider, users receive a detailed report with statistics like monthly profit/loss, balance progression, total profit, and identification of the top-performing provider in the specified simulation.
- No VPS installation required: Unlike some platforms, DupliTrade doesn't need users to set up a Virtual Private Server (VPS), simplifying the user experience.
DupliTrade Cons
- High minimum deposit: DupliTrade has a relatively steep minimum deposit requirement, ranging from $2,000 to $5,000, which may be a hurdle for traders with limited capital.
- Limited strategy providers: The platform offers a small number of strategy providers, potentially limiting the diversity of available trading approaches.
- Restricted risk parameter customization: DupliTrade lacks extensive options for adjusting risk parameters and exiting positions, limiting control for traders focused on precise risk management.
- Limited communication toolkit: The platform has a modest toolkit for communication and experience sharing among users, which could be enhanced to foster a more collaborative trading community.
- Focus on forex trading: DupliTrade is primarily centered on forex trading, which might be limiting for traders seeking a broader range of assets in their portfolio.
How to Use DupliTrade with AvaTrade Account
- Create an AvaTrade Account: Visit the official AvaTrade website and sign up for an account. You'll need to provide some personal information and go through a verification process.
- Open a DupliTrade Account: After setting up your AvaTrade account, you'll need to create a DupliTrade account. DupliTrade is a platform that allows you to automatically duplicate the actions of expert traders directly into your AvaTrade trading account.
- Link Your Accounts: Once you have both accounts, you must link your AvaTrade account to your DupliTrade account. This is usually done within the DupliTrade platform and involves providing some information about your AvaTrade account.
- Select a Trading System Account to Follow and Adjust Exposure: DupliTrade displays a list of selected strategy providers representing different trading methods and styles. You can choose which of these strategy providers to follow based on your trading preferences and risk tolerance. Once you've selected a strategy provider, you'll need to adjust your exposure, which is how much of your account balance you're willing to risk with the strategy provider's trades.
- Track and Analyze Your Trading Account in Real-Time: After everything is set up, you can start tracking and analyzing your trading account in real time. This involves monitoring the trades made by the strategy provider you're following and analyzing the performance of your account. Remember, while DupliTrade can automate trading, it's still important to monitor your investments and adjust your strategies as needed.
ZuluTrade
ZuluTrade is a Greek financial technology company that runs an online and mobile platform for social and copy trading. It lets users copy the trading moves of others, especially in the forex market.
As of 2024, ZuluTrade had around 2.4 million users and had handled over $800 billion in trades. The platform supports social and copy trading across various assets and has a big network of more than 90,000 Leaders and over 1,000 brokers.
With ZuluTrade, you can trade in forex, commodities, indices, stocks, and crypto, either by yourself or by copying others.
ZuluTrade Features
- Innovative Tools: ZuluTrade provides exclusive advanced tools like Backtest, Watchlist, Risk-score, and ZuluGuard, offering users unique capabilities for evaluating strategies, organizing their preferences, managing risk, and protecting their accounts.
- Wide Variety of Instruments: ZuluTrade supports a diverse range of financial instruments, including forex, commodities, indices, stocks, and cryptocurrencies. This broad array of options allows users to explore and diversify their trading portfolio.
- Many Top Performing Leaders: The platform boasts a large pool of Top Performing Leaders. These are experienced and successful traders whose strategies have demonstrated consistent success. Users can choose from this pool based on their individual preferences and goals.
- Safety: ZuluTrade emphasizes safety by exclusively supporting licensed brokers. The platform itself is regulated within the European Union (EU), South Africa (SA), Mauritius, and Japan. This commitment to regulatory standards adds an extra layer of security and trust for users engaging in trading activities.
- 24/5 Support: ZuluTrade offers 24/5 customer support, ensuring users have access to assistance throughout the trading week. This support can be valuable for addressing queries, resolving issues, or providing guidance for an optimal trading experience.
ZuluTrade Performance
- High-Speed Execution: Zulutrade provides high-speed trade execution, ensuring that orders are completed promptly. This high-speed execution is advantageous for traders, as it minimizes the time between making a trading decision and the actual implementation of the trade. Such rapid execution is instrumental in capturing market opportunities, reducing the likelihood of slippage, and contributing to an overall efficient and responsive trading experience on ZuluTrade.
ZuluTrade Pros
- Intuitive Interface: ZuluTrade offers a user-friendly interface, making it easy for both beginners and experienced traders to navigate. The intuitive design enhances the overall user experience, allowing for seamless interaction with the platform.
- Detailed Statistics and Comparison Functions: Traders on ZuluTrade have access to comprehensive statistics and functions that facilitate a detailed comparison of various aspects. This feature enables users to make informed decisions based on the performance metrics of different strategies and providers.
- Wide Range of Online Brokers: With over 70 online brokers to choose from, ZuluTrade provides users with flexibility in selecting a broker that aligns with their preferences and requirements. This extensive broker network enhances accessibility and ensures compatibility with a variety of trading styles.
- Regulation in the EU and Japan: ZuluTrade is regulated in the European Union by the Hellenic Capital Market Commission (HCMC) and in Japan (2014 – No. 1058 Member Associations / General Japan Investment Advisers Association). This regulatory compliance adds a layer of security and trust for users, assuring them of the platform's adherence to industry standards.
- Automation and Risk Control Services: ZuluTrade provides advanced automation and risk control services through features like ZuluTrade Automator and ZuluGuard. These tools empower users to automate trading processes and implement risk management strategies, enhancing the efficiency and safety of their trading activities.
- Communication Functionality for Traders: ZuluTrade offers convenient functionality for traders to communicate and discuss trades. This social aspect enhances the collaborative nature of the platform, allowing users to share insights and strategies and engage in discussions with their peers.
- Free and Fully Functioning Demo Account: ZuluTrade provides a free and fully functioning demo account, making it an ideal starting point for beginners. This feature allows new users to practice trading in a risk-free environment, familiarize themselves with the platform, and build confidence before engaging in live trading.
ZuluTrade Cons
- Infrequent Updates to Blog and Forum: The blog and forum on ZuluTrade are reported to be rarely updated. This may limit the availability of fresh content and discussions, potentially impacting the platform's community engagement and information-sharing aspects.
- Ineffectiveness of Advanced Filters: Some users have found that the advanced filters on ZuluTrade are not as effective as desired. This could potentially hinder users seeking specific criteria for strategy selection, and the platform may benefit from improvements in this area.
How to use ZuluTrade with AvaTrade Account
- Open an AvaTrade Account: Create an AvaTrade account by visiting their official website, where you'll sign up, submit necessary personal details, and undergo a verification process.
- Fund Your Account: After setting up your AvaTrade account, you'll need to fund it. This usually involves transferring money from your bank account to your AvaTrade account.
- Connect Your ZuluTrade with Your AvaTrade Account: Once your AvaTrade account is funded, you'll need to connect it with your ZuluTrade account. ZuluTrade is a cutting-edge auto trading platform that connects directly with the AvaTrade site and MetaTrader 4 brand through an API.
- Choose a Trader to Follow: ZuluTrade allows you to choose from a variety of top traders whose strategies you can choose to follow. You can browse through ZuluTrade's diverse list of expert traders and choose who to follow based on their success rates and the assets they trade.
- Monitor Your Trades: After everything is set up, you can start monitoring your trades. This involves keeping an eye on the trades made by the trader you're following and analyzing the performance of your account. Remember, while ZuluTrade can automate trading, it's still important to keep an eye on your investments and adjust your strategies as needed.
Which One is Better? DupliTrade or ZuluTrade?
Choosing between DupliTrade and ZuluTrade to try in an AvaTrade account boils down to your trading preferences. DupliTrade is user-friendly and prioritizes simplicity and safety, making it suitable for those who prefer straightforward processes.
On the other hand, ZuluTrade offers advanced tools and a diverse community of successful traders, catering to users seeking sophisticated features and various trading strategies.
When deciding, consider your trading goals, experience level, and comfort with different features. If you like a straightforward and secure interface, DupliTrade may be your choice. ZuluTrade could better fit your trading needs if you prefer advanced tools and a broader community. Carefully evaluate the features of each platform to align your choice with your specific trading objectives.
Final Words
In summary, AvaTrade's DupliTrade and ZuluTrade offer distinct copy trading experiences. DupliTrade prioritizes simplicity, safety, and user-friendliness, while ZuluTrade provides advanced tools and a diverse community of successful leaders.
Choose DupliTrade for a straightforward and secure approach, or opt for ZuluTrade's innovation and extensive trading community. AvaTrade ensures seamless integration for both platforms, making copy trading accessible and efficient.
AvaTrade is an innovative global forex and CFD broker that offers a diverse range of trading services as well as instruments with some of the most competitive commissions in the industry. It is known as a trustworthy brokerage firm, suitable for beginners and professional traders alike. Some other defining points include easy deposits and withdrawals, an intuitive mobile app, and fast execution.