Zulutrade Backtest Scam

[TheFXWarrior]

Zulu trade's faulty backtest.

Hello Bravewildheart
saw your post
I was wondering if anything had changed ?
did you receive any more comunication from "Zulutrade"
I was wondering about your background
and how you got into trading
Are you still trading ?
did you look for a different forex broker ?

Im going to open up a Zulu Demo and run some test also

The FX Warrior

I lost almost $2000 on my 2 accounts due to Zulu trade's faulty backtest.

A warning for all Zulutraders.

1. Please take note that the backtest is only useful to determine the estimated profit that could have materialised in the past, with the maximum open trades and maximum open lots followed by the Signal Provider, without taking into account any stop losses or stop limits.

2. The backtest does not take your own maximum open trade settings, maximum open lot settings and stop losses or stop limits into consideration. When you change these settings, the backtest remains the same. The only factor which influences the backtest graph is your own ‘lots multiplier’ setting.

3. Do not, however, measure the Max DD on the DD graph and adjust your lot multiplier accordingly, as you will receive a Margin Call sooner than expected. The real DD is, in some cases, up to 10 times more than the Max DD displayed on the backtest graph.

4. The drawdown graph on the backtest only displays the max DD of a trade on the day that the trade closed, not on the day that it happened. It is totally skewed. You can do your own comparison by comparing a SP’s backtest with the SP’s drawdown graph on the SP performance page.

I have written numerous e-mails to George at Zulutrade with no resolution or results.

Everyone that is currently doing the backtest is getting scammed.

Check attachments for more info.

 

[Bravewildheart]

FXWarrior,

Zulutrade just don't take any responsibility. They have very good excuses for everything.

You will probably do well with your demo account because it last only 30 days.

The best way to evaluate if you have any change in making a profit with Zulutrade is to do the following:
Go to the performance page and go to any of the top Signal Providers’ performance page. Scroll down to the comments of traders. You will notice that you would be able to open some of the followers’, who made their profile public, performance page. Click on show all providers at the top of the graph on the right and you would be able to see how that follower are doing. On the table at the bottom at the right you would also be able to see the amount the follower has made or lost. Do that for a sample of 20 – 50 followers from different SP’s and see how many you could find that are in profit after trading for more than 3 months and that are not doing manual trades. Now you can calculate your own odds of making any profit.

I am mechanical engineer with a MBA and am always on the outlook for profitable investment opportunities. I am still trading but mostly manual on Gold and Silver.

I am getting reasonable good service from SunbirdFX as a forex broker.

You are more than welcome to contact me at my name at gmail if you would like some more advice from my experience.

 

[FOREXCZ]

Hi Brave. I see in the zulu forum announcements that your complains have worked and they are changing the backtest thingy to calculate what you asked
Lets hope they do it soon and that it work good because I want it too!

 

[Bravewildheart]

It is very disappointing that Zulutrade haven’t updated their Backtest to include stops and limited orders or at least put a note on the backtest so that users are informed about that.

 

[Bravewildheart]

ZuluTrade Team,
Could you please reply on all above posts??

 

[Dimohrusafov]

Back-testing got fixed last week Totally better from before, super calculation I was mixed up from before since I expected to see the dd red line, but support explained that dd is integrated in my equity line already.

 

[Bravewildheart]

This is my last and final rating for Zulutrade after 18 months of trading with Zulutrade and trying my best to make it profitable.
In The past 18 months have I tried every scenario I could possibly think of. I tried various stop loss settings, multiple accounts, accounts with one SP and accounts with 10 SP.

My conclusion:
IT IS IMPOSSIBLE TO MAKE PROFITS OVER THE LONG TERM WITH ZULUTRADE.

To prove this to yourself do the following:
Open any signal provider that have a lot of comment posts, high ranking or low, good post or bad. Open the profiles of the followers that comment and share their profile. See if you could find any that are in profit for longer than 3 months. Make your own conclusion.

You could also reason, let’s go to the Alchemy. Of the top 200 listed, less than 50 make more than 15% per year. That is 50 out of 10 000+ followers? If you look at their profiles you would also see that most of them made their profits from manual trades.

Here are some of my public profiles:
www.zulutrade.com/Follower.aspx?ref=1&id=436365
www.zulutrade.com/Follower.aspx?ref=1&id=516723
www.zulutrade.com/Follower.aspx?ref=1&id=516748
www.zulutrade.com/Follower.aspx?ref=1&id=516758
www.zulutrade.com/Follower.aspx?ref=1&id=516843
www.zulutrade.com/Follower.aspx?ref=1&id=426935
www.zulutrade.com/Follower.aspx?ref=1&id=388248
www.zulutrade.com/Follower.aspx?ref=1&id=499317
www.zulutrade.com/Follower.aspx?ref=1&id=499965
www.zulutrade.com/Follower.aspx?ref=1&id=510639
www.zulutrade.com/Follower.aspx?ref=1&id=510669
www.zulutrade.com/Follower.aspx?ref=1&id=510706
www.zulutrade.com/Follower.aspx?ref=1&id=510723
www.zulutrade.com/Follower.aspx?ref=1&id=516865
www.zulutrade.com/Follower.aspx?ref=1&id=519755
www.zulutrade.com/Follower.aspx?ref=1&id=519763

As you could see I did not gave up easily. Zulutrade made sense to me all the time and I believed that if I could only find that one successful Signal Provider, I would make a profit in the long run.

The same scenario happened over and over again. You would find a SP that have a good performance record, sometimes longer than a year or two. You could be lucky and make a profit for a month or three and then out of the blue the SP would destroy the account. I am beginning to wonder if they get paid by Zulutrade to destroy their accounts. I have heard and read that a lot of Brokers are betting against their customers to make profits for themselves.I saw 10’s of millions of dollars lost with SP like Forex Cruise Control, Sharper Trade, Zulu Master, Alpha Oxygen and Trade Guru only to name a few.

 

[Dimohrusafov]

oooh there is some nice reply from the Zulutrade themself back in the reviews based on that. apperantly my friend, you got overexposed with 5000% margin o meter ....

 

[peepbb]

Zulutrade and AAAFx are complete scams. They are widespread to unbelievable measures. I have profit with any broker, but with AAAFx this is not possible they wide spreads, and you will hit SL to both sides. We should report them and stop then from continuing to fraud. Zulutrade even cheating on demo accounts. They have created own accounts of signal providers, and they manipulate everything to manage followers to lose all equity. Zulu trade is a huge scam, and they will sink all your accounts. AAAFx is bucket shop and they use "mafia practices".

 

[aaafx sales]

Dear peepbb,
Thank you for your feedback.
With regards to the AAAFx spread, we would like to remind you that in contrary with other Brokers, AAAFx has opted to apply a Commission-based model applied to all accounts by default upon activation, instead of receiving a commission adding a mark-up at the spread. Following this method, a fixed commission, which depends only on the lot size of the trade opened and the base currency of your account applies to all transactions allowing for the broker to have the lowest possible spread.

AAAFx has opted to proceed with this specific model after careful consideration alongside our users specifically because it offers the major advantage compared to any other commission model that the spreads are lower, which can help in increased execution benefits on Stop and Limit rates and allows the users to have more effective scalping strategies with the most competitive spreads and rates at any given moment. But we would like to indicate that as our spreads in AAAFx are not fixed, in times of high volatility, for example during economic events, the spreads will be increased accordingly.
With regards the trading activity offered in ZuluTrade we would kindly like to remind you that the company’s only source of income is the commission received from the Brokers' spread. Therefore it is in our best interest for the clients to have profitable accounts, which will lead them to an increased trading activity and establish a mutually beneficiary relationship. It is in ZuluTrade’s best interest to assist its clients to have profitable accounts through our service and all of our efforts are focused in order to offer the best possible service with our client profitability as our main goal.

Thank you for your understanding.