Bitfinex 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 Bitfinex trading signals. You will learn what kinds of trading signals Bitfinex offers and what the conditions for using them are.
Short introduction of Bitfinex
The Bitfinex crypto exchange is a platform for trading cryptocurrencies and tokens. You can freely trade Bitcoin, Ethereum, Litecoin, cryptocurrency pairs, and fiat pairs like USD, EUR, GBP, JPY, etc. The company has its proprietary trading terminal with a mobile application for margin trading; it has a leverage of up to 1:10 (up to 1:100 for derivatives). The terminal stands out for its several unique features, including scalable orders that a trader can easily customize to suit their trading strategy. Customized orders and strategies can be tested without restrictions on a demo account that does not require a capital investment. You can use bank cards for deposits and withdrawals and there are no limits on the withdrawal of funds. The platform has a typical affiliate program and several investment programs, including staking and deposit.
| 💰 Account currency: | Cryptos, currencies |
| 🚀 Minimum deposit: | $10 |
| ⚖️ Leverage: | Up to 1:10 (margin trading), up to 1:100 (derivatives) |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, currencies |
| 💹 Margin Call / Stop Out: | No |
Bitfinex Pros and Cons
👍 Advantages of trading with Bitfinex:
•large trading volumes;
•handy mobile application;
•top-tier level of security;
•custom orders;
•tons of currencies pairs;
•leverage up to 1:10 (derivatives are up to 1:100);
•demo account;
•investment programs.
👎 Disadvantages of Bitfinex:
•snail-paced multi-stage verification;
•relatively high fees when working with fiats;
•absence of direct responses from call center, they use only alternative communication methods.
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:
-
Copy trading.
-
Email alerts.
-
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.
Bitfinex Trading Signals
Like most crypto exchanges, Bitfinex offers a dynamic fee system. The fee hinges on the volume of trades during the calendar month — the more a client trades, the lower his fees. Additionally, fees can be reduced thanks to the opportunities indicated in the referral program.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From 0.1% per market order | Yes (0.1% of the amount, minimum fee is $60) |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Bitfinex 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
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.
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
Can trading signals depend on the account type?
Yes. As a rule, they are provided for certain account types, but may also be available for the standard account.
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.