A couple of years ago I was naive enough to believe everything written on websites. So I came across ZuluTrade.com and was really impressed. They show thousands of pips profits each and every month and it’s almost impossible to see any loss.

Now that’s a service that I would dream to have.

But it’s just too good to be true:

• All these stats are from demo accounts and most people say they are fake
• My Demo account hit a margin call and I am not the only one
• There is no reliable contact information - only email addresses

I decided to check other people’s experience and found mostly scam complains:

“These guys are totally scam, who could do anything bad in your account without reason. Please stay away from them.” - at ForeBastards

“my current demo trade history on Zulutrade .. see attached. equity started with $ 50.000 - now $ 43.043 -190 pips

Targus50 just tanked (-800 pips closed in 2 minutes) , and went from nr 1 on the performance list to number 12, showing an overall small loss over 8 weeks.” - at EliteTrader

That’s kind of enough. I would stay away from this service. It’s better to approach signal providers who don’t report such incredible results, but at least don’t fake them.

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This entry was posted on Tuesday, November 13th, 2007 at 6:56 pm and is filed under Scam & Fraud. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.