1. What do I do on the Zolio platform?
You begin with completing the Zolio proprietary profile which is a self-report of various personality and other aspects that relate to trading. You will then access the self-learning material, blogs and webinars in order to understand what type of trading style you want to apply as well as learn how to draft a trading plan. You will build your portfolio by trading as often as you would like on Zolio’s proprietary real-time virtual platform. You are also given the opportunity to journal three different ways as you trade. Zolio combines the profile self-report data, trading results and journal inputs into a customized report which offers invaluable insights into yourself as a trader.
2. What can I trade on Zolio’s platform?
You can trade equities and ETFs traded on the NYSE and Nasdaq exchanges. You can trade both long and short.
3. How much trading must I do?
How much trading you do on a daily basis is entirely up to you and your trading style. Successful traders take on all types of routines. This is not intended as a full time endeavor, but many traders invest time for related activities, such as research and learning about the markets, in addition to trading. To be consistent with our trading rules, you need to have at least 10 distinct positions.
4. Why do I have to complete a profile?
The proprietary profile questionnaire is one of the elements that makes Zolio unique and will benefit you. It enables the Zolio team to better understand you as an investor. It is a critical element to self-discovery and to understanding where and how you have your investing successes or challenges. Zolio wants to be able to compare what you self-report to what you actually do on the platform; actions speak louder than words. The profile is one key element, along with the journal, of the individualized feedback that you will receive.
5. Why do I have to keep a journal?
The journal is an important part of the learning process. It helps you keep a history of your thought processes, outcomes and lessons learned. It is also a tool that enables you to match winning behaviors with winning trades, to understand when and how you are losing money, what habits are being formed, which are helpful and which habits are not. Journaling also gives Zolio important insights into your investing style and the ability to give you feedback as you go through the program. It is the second key element, along with the profile, to the individualized enhanced feedback reports you will receive if you complete a minimum of 6 months on the platform.
6. How often do I need to write in the journal?
Zolio offers three types of journaling options. You should journal whenever you make a trade, or a minimum of once a week, even if you have little or no activity, but whether you want to journal more than that is up to you.
7. Where does the information from the profile, journal and trading go? Is it secure? Who can see it?
Zolio houses all the information on a secure server for its analysis. No information is released on an individual basis without obtaining prior approval from the participant for release.
8. What is an investing style and how do I choose which one is right for me?
A trading style is a set of rules to invest by or the type of methodology employed when investing. When you receive your user ID and password, you can access the MyZolio site which will provide tutorials and information about various basic investing styles and how to go about choosing one that is right for you.
9. Why should I stay on the platform longer than 6 months?We encourage you to stay on the Zolio platform for a minimum of 6 months for a number of reasons. Sufficient time on the platform is necessary for your growth as an investor to be analyzed by the Zolio team. Further, a successful track record is built over time. It demonstrates consistent performance rather than a one-time “lucky bet”. Firms require 6-12 months before they are interested in viewing results. Firms like to see a commitment to investment management from the candidates they interview. They value “stick-to-it-iveness” and understand that a valid track record is a product of sustained effort. With at least 6 months on the platform, Zolio will share your data with interested investment firms.
10. What do I get after spending 6 months or more on the platform?
With sufficient time to collect necessary data, you will also get:
- An enhanced personalized feedback report of how you traded relative to your peers and the market. This report will also include insights from analysis of your journal and profile responses.
- Zolio will independently verify your trading results should you ask us to do so
- The option to have your data shared with interested investment firms if you choose.
11. Can teams participate?
No. Zolio participants are expected to participate and invest as individuals.
12. Are there certain criteria to participate?
One must be a legal resident of the United States.
13. What type of interaction will I get, how often and through what means?
The various types of interaction include:
- Your Performance Report is available for direct download from your account whenever you wish
- Answers to your questions during live webinars
- Opportunity to blog
- On-going helpdesk function
- Personalized Feedback Report after 6 months of trade and journal data is collected
- Interactive feedback on trading plans for a select few
14. How does Zolio work with Investment Firms?
Zolio will share generic overall trading results and other insights from our platform with investment firms on a monthly basis via newsletters and other vehicles. When participants who have at least 6 months of track record on the Zolio platform actively opt-in to have their individual data shared with investment firms, then we will prepare customized reports for investment firms based on the firms’ requests. Those reports will be the basis on which investment firms may choose Zolio participants to interview. Zolio cannot guarantee either job interviews or jobs; however we do guarantee that if you decide you want your data shared with investment firms we will share that data.
15. Are participants divided into different levels of trading experience?
Zolio makes every effort to keep comparisons of participants fair and, therefore, considers one’s skill level when joining the Zolio platform.
16. I don’t know much about investing and have not taken finance classes in school, but I do trade as a hobby. Will I be at a disadvantage?
No, there will be a significant amount of educational materials available on the site that is meant to “level the playing field” for all participants. The purpose is to learn more about yourself and if a career in investing is right for you.
17. Can I get school credit for this?
No, as of now Zolio does not have any formal arrangements with any schools.
18. What happens if I lose all my money in the first few months of trading?
Please refer to “Loss of Capital” as listed in the Trading Rules available on the Legal section of the site.
19. How do I pay for my subscription?
Zolio charges monthly subscription fees. You may sign up with your credit card any time during the month and your account will be credited through the last day of the subsequent month. All subsequent recurring monthly charges will take place on the 1st day of each month. For example, if you sign up on the 10th of September, your account will be credited through the last day of the subsequent month which would be October 31st. Your next recurring monthly payment would be charged on November 1st.
20. What if I want to cancel my Zolio membership?
You may cancel at any time before the end of your monthly billing cycle. The cancellation will go into effect for the following month with no refunds for partial months.