BitMEX 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 BitMEX trading signals. You will learn what kinds of trading signals BitMEX offers and what the conditions for using them are.
Short introduction of BitMEX
The BitMEX brokerage is a peer-to-peer (P2P) trading platform for cryptocurrency and other digital market assets. It is part of the HDR Global Trading Limited holding group. The company is headquartered in Seychelles with global offices. This is one of the largest cryptocurrency exchanges, with a trading volume of over $3 billion (60 thousand BTC) per day. The XBTUSD Perpetual Contract is the main exchange product and the most traded in the industry. BitMEX is expanding its offer with new perpetual contracts, traditional futures, and quantum futures instruments.
| 💰 Account currency: | XBT |
| 🚀 Minimum deposit: | 0,0001 XBT |
| ⚖️ Leverage: | Up to 1:100 |
| 💱 Spread: | From 0 |
| 🔧 Instruments: | Cryptocurrencies, US dollar |
| 💹 Margin Call / Stop Out: | No |
BitMEX Pros and Cons
👍 Advantages of trading with BitMEX:
•High-trade value and liquidity level;
•simplified registration procedure;
•margin trading with leverage up to 1:100;
•you can use short positions;
•world-class security system by Amazon Web Services;
•high speed transfer speed for fund replenishment and withdrawal;
•powerful analytical and reference system integrated into your personal account.
👎 Disadvantages of BitMEX:
•funds deposits and withdrawals are only in Bitcoins;
•the trading terms (e.g., the “liquidation trigger” is the index marking price) may be unfamiliar to some users;
•the risk of serious losses due to the high leverage abuse.
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.
BitMEX Trading Signals
The BitMEX cryptocurrency exchange fees depend on several dynamic factors. They differ for perpetual contracts, futures, and quantum futures. Factors affecting the size of the commission for a specific instrument are: leverage, maker, taker, financial longs and shorts, and funding interval. The exchange doesn’t take a commission for funds deposit/withdrawal.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From 0.075% per market order | No |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that BitMEX 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
Can I reject a trading signal?
Yes, you can. However, if the signals are provided as a part of copy trading with automatic closing of positions, you need to monitor the platform.
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
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.