ZuluTrade to Drop Profit-sharing Fees from Investors' Accounts

Fazzaco learned that ZuluTrade, one of the world's largest social trading platforms, unveiled its plan to drop the profit-sharing fees from the followers' accounts as of January 1, 2023, marking a significant change in its traders' compensation model.

Also, the firm will drop the $30 subscription fees per month being charged to profit-sharing accounts.

Under ZuluTrade's current profit-sharing model, traders who offer signals that are copied automatically into the follower's account will get paid 25% of the profits gained in the follower's account in a month.

Tajinder Virk, CEO at ZuluTrade, said, "Finvasia is known to create a value-driven system and has revolutionised the Zero-commission ecosystem. This move further cements Finvasia's efforts in pioneering 'Zero commission' business models. We are working towards creating a platform that is democratic, peer-to-peer, transparent and ethical. Everything will be right there for people to analyse and make informed decisions."

​Sarvjeet Virk, Co-Founder of Finvasia Group, said, "We are happy with the direction that ZuluTrade is evolving towards, and I see significant changes coming in the months ahead that will put our investors at the centre of our product."

As of January 1, 2023, ZuluTrade users will not be able to open a new profit-sharing account.

Last December, ZuluTrade was acquired by Finvasia Group​, an India-based technology-driven financial service provider. 

Earlier this month, Fazzaco reported that ZuluTrade has been integrated by Moneta Markets, a retail FX and CFDs broker, to cement the latter's own social trading offering.