Bitbuy Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Bitbuy trading signals. You will learn what kinds of trading signals Bitbuy offers and what the conditions for using them are.
Short introduction of Bitbuy
Bitbuy, a Canadian cryptocurrency exchange, is widely recognized for its favorable trading conditions. Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), BitcoinCash, EOS, AAVE, LINK, other cryptocurrencies, and tokenized coins are traded on the platform. There are no pairs with fiat funds. Two services are presented which are a quick exchange of crypto-to-crypto and a more robust exchange for advanced traders. There is a separate service for OTC and institutional trading. The platform has low fixed commissions such as 0.1%/0.2% for maker/taker. There is no minimum deposit. Deposits are possible in cryptocurrency and US dollars. The referral program is single-level with one-time payments; there is also an affiliate program for active bloggers. The crypto exchange does not offer investment solutions.
| 💰 Account currency: | Cryptocurrencies |
| 🚀 Minimum deposit: | USD1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
Bitbuy Pros and Cons
👍 Advantages of trading with Bitbuy:
•most popular cryptocurrencies and coins are presented;
•high speed of exchange and trading operations;
•95% of customer funds are kept cold;
•two-factor authentication and deep encryption;
•the company is registered with MSB FINTRAC;
•high-quality technical support;
•a TradingView in-browser terminal;
•a convenient mobile application;
•no minimum deposit for cryptocurrencies;
👎 Disadvantages of Bitbuy:
•no demo account;
•significant withdrawal limits
•fiats are not represented here;
•there are no investment solutions.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Bitbuy Trading Signals
The Bitbuy crypto exchange has some of the lowest trading fees in the segment. They do not depend on the trading volume and other fixed factors. That is, a beginner does not need to trade for a long time to get more favorable conditions. The commission fee in the professional trading service is 0.1% for the maker and 0.2% for the taker. In a simplified trading service, the commission is 0.2% for everyone.
The exchange charges a fee for fiat deposits. The minimum top-up amount using fiats is $50 for wire transfers and $20,000 for bank transfers. Commissions of 1.5% and 0.5%, respectively. There are also limits and commissions for withdrawals. Bank transfers take 2-3 days, but electronic replenishments are instant.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.2% per order | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Bitbuy does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
How do I choose a signal provider?
Consider the profitability, the list of instruments the signals are provided for and the risk level of the strategy.
Are there fees charged for trading signals?
Yes. As a rule, the fee is charged as a markup to the spread, or it could be a subscription fee, or a percentage of the profit, etc.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.