To Andy..
ZuluTrade is a type of social trading service. Where the services offered are: As a platform that mediates signal creators and those who copy/copy trade.
Where the first step is to register on ZuluTrade, then choose a broker that works with ZuluTrade, there are choices such as: Instaforex, FXOpen, AGEA, and others.
Once you get an Account number and verify data on the broker (who works with zulutrade) Next you make a deposit according to broker terms (This is the same as opening a normal trading account). For deposits, the deposit is sent to the broker you choose, not to Zulu. The security depends on the broker. Therefore, before you choose a broker, pay attention to the broker's performance. Read also: Choosing a Broker on ZuluTrade.
You can be a signal provider and also copy open trades from others.
You just choose a trader/signal creator who you think performs well, then you connect/set it with your trading account. If the provider you choose SELLS GBP/USD, then there will be an open SELL GBP/USD, entering your trading account. Provider closed, then the open position will be closed. If the result is a profit, you will profit and vice versa.
However, you can set lots/volume, signal acceptance and others.
If you set the lot to 0.01, then the open trade that enters your trading account is lot 0.01, even if the provider you choose performs an open trade of lot 0.10 or 1.00.
If you set signal acceptance to 1 time, then you will only get 1 open position to your trading account, even if the provider opens several positions.
You can close manually or open yourself. If you cancel the signal from the provider, you will not receive open positions entering your account.
And if you have opened a trading account with a broker that partners with ZuluTrade, then you can contact the broker's CS, then ask for your trading account to be connected with ZuluTrade.
That’s a brief overview of how Zulu works. Almost similar to using EA or Robot. It’s just that, using EA, your MT4 must always be ON. While copy trading on zulu is not. Even if your PC/Computer is OFF, open trading continues.
Thanks.