Bitonic 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 Bitonic trading signals. You will learn what kinds of trading signals Bitonic offers and what the conditions for using them are.
Short introduction of Bitonic
Bitonic is a cryptocurrency exchange, launched in 2012 under the title of Idealcoin. It was one of the first exchanges that offered trading bitcoins in the Netherlands. Bitonic has its proprietary BL3P platform on which one can buy or sell BTC for EUR and vice versa. Regarding investment solutions, this crypto exchange offers buying bitcoins without client participation by setting up automatic payments from crypto wallets or bank accounts. Bitonic doesn’t have requirements for deposits and charges a fixed fee regardless of their trading volumes and order types. Verification of bank accounts is mandatory on Bitonic.
💰 Account currency: | EUR and BTC |
🚀 Minimum deposit: | No requirements |
⚖️ Leverage: | No |
💱 Spread: | 0.25% of the transaction amount |
🔧 Instruments: | BTC |
💹 Margin Call / Stop Out: | No |
Bitonic Pros and Cons
👍 Advantages of trading with Bitonic:
•Rich experience. The exchange has been in business since 2012;
•Liquidity is provided by large cryptocurrency exchanges such as Kraken and Bitstamp;
•Fixed transaction fee for takers and makers;
•Absence of minimum deposit requirements;
•Automatic purchase of bitcoins at the average price on the day of the transaction;
•Access to placing not only market but also limit orders;
•Affiliate program with rewards for every purchase of bitcoins by referrals.
👎 Disadvantages of Bitonic:
•The platform offers the purchase and sale of bitcoins only;
•Registration requires confirmation of a bank account;
•Bitonic doesn’t provide leverage.
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.
Bitonic Trading Signals
Bitonic charges a fixed trading fee in the amount of 0.25%. The charge for depositing EUR through iDEAL or SEPA is 0.5 EUR per payment. If a client deposits 0.1 BTC or more, the crypto exchange doesn’t charge fees. The payment for depositing less than 0.1 BTC is 0.0003 BTC. Fiat withdrawals via SEPA cost 1 EUR. When withdrawing bitcoins, a client has to cover the miner’s commission, which is on average 0.0003 BTC. If a trader wants to accelerate the transaction validation, he can pay a commission of 0.0005 BTC. The cost of an urgent EUR withdrawal is 0.25% of the requested amount but no less than 7.5 EUR.
Account type | Spread (minimum value) | Withdrawal commission |
Standard | 2.5 EUR for a $1,000 transaction | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Bitonic 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 test signals on a demo account?
If you mean copy trading, it depends on the broker. If the signals are provided as a newsletter or notification, you can decide where and how to test them yourself.
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.
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.
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.