BitMart 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 BitMart trading signals. You will learn what kinds of trading signals BitMart offers and what the conditions for using them are.
BitMart Trading Signals
The default commission for the taker/maker is 0.25%. It can be reduced by increasing the trading level. The trading level depends on two indicators:
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Your trading volume in BTC for the last 30 days;
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the amount of BMX (platform token) on your account.
There are eight trading levels that are calculated every month. The commission of 0.25% corresponds to a zero level. At the eighth level, the commission is 0.075% for the taker/maker.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | up to 0.25% per order | Yes |
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.
Short introduction of BitMart
The BitMart exchange is an international cryptocurrency trading platform. It has Bitcoin, Ethereum, Litecoin, Ripple, Dash, EOS, HEX, as well as dozens of other cryptocurrencies and tokens, and the pool of instruments is constantly being expanded. There are no fiat currencies on the exchange. They offer two interfaces: simplified and advanced for spot trading. The first will be the most interesting for beginners; the second one is for experienced users. There is futures trading with leverage up to x100. Users can invest cryptocurrency in a loan service, passively earning up to 60% per annum. The platform has a standard referral program. In addition to the TradingView web terminal, there is a mobile application for comfortable crypto trading. Commissions are below the market average, and they can be further reduced by keeping the platform’s proprietary token called the BMX.
| 💰 Account currency: | Cryptocurrencies Bitcoin, Ethereum, Litecoin, Ripple, Dash, etc. |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | up to 1:100 (futures) |
| 💱 Spread: | Market |
| 🔧 Instruments: | Bitcoin, Ethereum, Litecoin, Ripple, Dash, etc. |
| 💹 Margin Call / Stop Out: | No |
BitMart Pros and Cons
👍 Advantages of trading with BitMart:
•a large selection of cryptocurrencies and tokens for trading;
•in addition to spot trading, there is futures trading;
•futures trading is possible with leverage up to x100;
•passive income through investing in loans;
•several variants of the trading terminal;
•easy-to-use smartphone application;
•commission of 0.25% at the first trading level;
•2FA authentication and extended API key authorizations;
•all popular options for deposit and withdrawal of funds, including MC and Visa cards.
👎 Disadvantages of BitMart:
•no demo accounts;
•no fiat currencies;
•technical support doesn’t have a call center.
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that BitMart 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 test the signals if I can’t do it on a demo account?
In this case, it is best to test them using the minimum deposit. You will need to check the minimum deposit level of the broker.
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.
In which form can signals be provided?
Signals can be provided as copy trading, newsletters, alerts, blog articles, etc.
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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.