It has already been shown that the Followers (copy Traders) information regarding ROI is grossly false and deceiving.
It has already been shown that the Followers (copy Traders) information regarding Amount Following statistic on the left hand side panel is grossly false and deceiving.
And I have been doing some analyses of the ROI of the top ten Traders. There is NO possibility of them achieving their stated ROI on the numbers shown. I will show those analyses tomorrow.
And. your statement in regards to the vigilance of the regulators in Greece gave me a big laugh. The regulators in the USA are supposedly the toughest in the world, but the names like Bernie Madoff, Libor, and all the other massive financial scams and frauds easily come to mind.
It is 5.00am GMT and the number one trader in Zulutrade is Kama-Spot.
He has a published ROI of 1154%. (Shown in left hand side box next to chart on Zulutrade)
He has a published net Profit of $4307.70 (found by moving your cursor to the end of his profit curve).
If we use the ROI formula that
ROI = Net Profit /invested capital * 100
then
ROI = 1154
Net Profit = 4307.7
and Invested Capital is therefore $373
BUT IF WE LOOK AT HIS FIRST MONTHS TRADING , we find that on 10th OCT 2012, he had a drawdown of $495.90.
In other words, his account was busted. (And I am being generous, because he would have been margin-called well before he was busted).
The issue that I am trying to point out here is that I believe that Zulutrader is being very loose with its numbers.
a) The Traders numbers do not reflect real trading conditions. NO broker extends credit to a client that has breached margin requirements.
And NO broker allows a client to continue trading when their Invested Capital is blown out.
b) The Followers (copy Traders) information regarding
ROI appears grossly false and deceiving.
c) The Followers (copy Traders) information regarding
Amount Following statistic on the left hand side panel appears grossly false and deceiving.
d) Also of interest is the comparison of slippage. For example, for the same trader (Kama-Spot and Saved FX), the slippage on Dukascopy on the accounts is 0.9 on Kama-Spot and a whopping 3.6 on Saved FX. Why is there such a HUGE discrepancy by the same trader on the same broker on the two different accounts?