According to an announcement made by ZuluTrade to its clients the company has now launched its binary options social trading solution to the market. The first step is on-boarding binary options traders who are interested in providing their trading strategies and signals to followers. The sign up process is open, however there is still no live following is available.
Back in May Forex Magnates broke the story that social trading is making its way into binary options. At the time ZuluTrade and SpotOption signed an exclusive partnership aiming to provide set of social trading services to the rapidly growing binary options industry.
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Current users with demo accounts can already sign up to follow signal providers as the company is gradually implementing functionalities to streamline the entire process of delivering a solid customer experience before social trading for binary options goes fully live.
Traders will also have the opportunity to design new strategies and robots using ZuluScripts. The feature provides traders with the ability create their own custom “scripts” based on a set of custom instructions that can carry out trading operations if conditions and specified criteria are reached.
The process of becoming one of the binary options social trading pioneers is similar to the one which is used in the company’s forex trading registration – prospective trade leaders need to enter their personal information along with a brief description of their trading strategy.
The more followers a signal provider has, the more revenues he can procure – ZuluTrade is compensating trade leaders with 0.5% of the total traded volume by their followers.