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Signals Reviews

ZuluTrade's Top Rainmakers: How Much Do Signal Providers Earn

After our last article on the amount eToro's eToro's Gurus receive in monthly commission, it'd be only fair to examine what ZuluTrade, the other principle actor, offers to its signal providers. In this case, however, payment conditions are not as clear-cut as on OpenBook so a lot of the following analysis will be based on assumptions. Well-grounded, of course, but assumptions nonetheless. Keep in mind that due to the wildly volatile nature of social trading networks, no information we provide is definitive or a hundred percent accurate at any given moment. Our purpose is not factual precision. Rather we aim to give you a somewhat adequate idea of the compensation ZuluTrade's best SPs receive. To this end, we'll be focusing on the networks top 5 most-capitalized traders.

 
So here's what we know and are going to use as a starting point. ZuluTrade pays its SPs a 0.5 pip commission per traded lot of real money. Naturally, demo account followers and their virtual assets do not count towards the capital you get compensated for managing. Well, here's our first obstacle on the way to accuracy – half a pip varies in value depending on the currency rate but usually it's equal to something along the lines of $5. For the sake of argument, this is the value we'll accept and apply in further calculations. Another hindrance we're facing is a tiny little detail that is nowhere to be seen in ZuluTrade's official payment conditions for potential SPs. For running the assets of an institutional client, meaning a trader who's invested more than $100,000, SPs get paid 5 times less – 0.01 pip. Now that ZuluTrade intentionally omitted to mention this fact, the internet is flooded with comments from discontented users. And although we know such accusations to be completely legitimate, institutional clients won't be taken into account in this article for the simple reason that we have no way of knowing how many there are.
 
#1 Kama-spot currently controls $18,340,045 in capital. An empirical conclusion we've drawn from observing and talking to people who provide signals on ZuluTrade is that most of them trade 1 micro lot per every $1000 in their accounts. This is by no means a rule but more often than not, things work exactly that way. What follows is that for every million a trader runs, they get about $50 per traded standard lot. Multiplying Kama-spot's 18 million by $50 and then by the number of trades he has executed over the last month, 75, we get $67,500. This is Kama-spot's compensation for the services he provided in February. It's a very rough estimate, of course, and one that disregards the presence of any institutional traders in his copiers as well as the fact that amount following is an indicator that changes constantly. He may be running 18 million now, but a couple of weeks ago Kama-spot had only 10 million. 
 
#2 Saved FX, which is managed by the same guy who runs Kama-spot, has $11,003,233 in followers' assets. Carrying out the same calculations for its 74 trades registered in February brings us to $40,700. Whoever owns these accounts is sure making some good money out of them, regardless how imprecise these figures are.
 
#3 F8, one of our all-time favorites, has managed to reduce his profit by 1,000 pips in the last 30 something days. Now, ZuluTrade does not pay commission if you've lost more than 700 pips in one calendar month. Considering his $6,156,478 in trading capital and some 245 trades for February, F8 could have gotten about $73,500. Not surprisingly though, he pocketed one big great zilch.
 
#4 German account, Qurenix, runs $4,990,764 up to date. With this sum and 65 trades, this trader could very well have received a sum along the lines of $16,250.
 
#5 For333, the last in our top five, currently controls $3,783,959. With a decent rate of 52 trades and close to 4 million in the account, we estimate that he got paid about $10,000. 
 
Do not take these results as an accurate information to go by because most of them might be overblown largely because amount following varies greatly and because we have no available data regarding institutional clients. What this analysis sure proves though, is that ZuluTrade's top signal providers get paid more than OpenBook's leading crew.
 

Know Your Keyword

 

Follower - A trader who has created a portfolio of signal providers whose signals to copy in a social trading network such as ZuluTrade, Mirror Trader, Tradeo, Currensee, eToro OpenBook, etc.
 
Lot - The standardized contract size of a trading instrument. A standard lot consists of 100,000 currency units, a mini lot – of 10,000; a micro lot – of 1,000 units, and a nano lot – of 100 units. 
 
If you are buying 1 lot EURUSD at 1.3000 for example, you are buying 100,000 Euro for 130,000 US Dollars.
 
Pip - The fourth digit after the decimal sign of a price quote. For example: if the EUR/USD moves from 1.3350 to 1.3351, that is one pip. Pips are used to measure price movement, profit and slippage.
 
Signal Provider –  A trader, publishing his trades and trading strategies as signals for other traders to copy on social trading networks such as ZuluTrade, Currensee, Tradeo, eToro OpenBook, FXSTAT, etc. Signal providers are often paid for their signals. 
 

 

TAGS: zulutrade  openbook  signal provider  commission  forex  trading  kama-spot  saved fx 
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