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I spent with Zulutrade about 10 years as affiliate and a trader. This year I have reached the minimum amount for payout first time. And Zulutrade has declined my first earnings due the 700 points rule. I need to say that the main essence of the situation is not that I was fined, but that with one click someone crossed out all the accumulated funds. Not only for a specific month, or for specific trading positions, but absolutely all the funds that I have collected on this account since the moment it joined ZuluTrade.
I wrote to trader department and talked to manager. He said that the 700 points rule will be canceled in few days for traders with live forex accounts. But month passed... and Zulutrade declined all my funds second time. Do I need to say that this was done on the basis of the same open trading positions, for which all my savings were destroyed the previous time?
And what do you think, all these (so far) about 1000 dollars of commissions were paid back to the users who paid for them, or Zulutrade kept them for themselves, taking them from the users and not paying the trader? Can it be called a fraud in this case, or what is it called? However, they still take commissions from followers for my work. And I can suspend (not delete) my Zulutrade account only when all orders on the account are closed.
The questions to Zulutrade:
1) If You decline all my current, past and future earnings, why can't i suspend opening the new trade positions and wait when the old positions (for which you decline all my earnings) will be closed, and i can deactivate my account?
2) If you decline trader's earnings, why don't you pay back those comission to the followers?
3) I don't even ask you why do you decline all the accumulated funds but not a part of them for the specific trade positions. But the question is: where's the common sense?
Tip for consumers:
Zulutrade promotes it's own "professional traders", that can help to make 0 from any your amount for 2-4 weeks. If you are Investor, then there are few other similar platforms which at least don't go the same way.
If you are trader, then my rewiew is for you.
Products used:
I worked affiliate and signal provider. And still have both accounts at Zulutrade. Here is providers link - https://ru.zulutrade.com/trader/399123/trading
Vitaliy M.'s review of ZuluTrade earned 3 Very Helpful votes
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Dear Vitaly,
Thank you for this review and for having been one of our signal providers for 10 years now. I’m sorry to hear that the platform does not meet your expectations anymore, but I really appreciate you bringing this to my attention and allowing me to share the core rules governing our platform.
ZuluTrade's priority is to ensure the safety of its clients' capital. For this reason, Traders who violate the trading rules and put Investors at high risk are investigated, and if they abuse the company's services, sanctioned or eliminated.
At the end of each calendar month, the trader is being paid the commissions based on the total monthly PnL, taking into account open positions. If the monthly PnL turns out to be negative, then the Trader will not be paid any commission.
At Zulutrade, we strive to provide world-class customer experience to all users. Social and copy trading have emerged as a popular addition to the retail trading market. Through this offering, ZuluTrade customers can copy a high-performing Trader’s signals and strategies, removing the need to speculate themselves and instead follow more experienced market participants.
As far as the deletion of your personal data is concerned, please feel free to send us your request via email at support@zulutrade.com. We remain available to discuss with you any further inquiries.
Thank you again for taking the time to share your experience with us.
Tatiana from the ZuluTrade