Bittrex 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 Bittrex trading signals. You will learn what kinds of trading signals Bittrex offers and what the conditions for using them are.
Short introduction of Bittrex
The Bittrex exchange is a platform for buying and selling cryptocurrencies and tokenized assets with a proprietary trading terminal and support for third-party terminals. Bitcoin, Ethereum, Tether, Cardano, XRP, and other cryptocurrencies are traded on this exchange. Fiats are represented by Euros and US Dollars. They have a trading terminal in the form of a web version for a PC and a mobile application for iOS and Android. There is a one-level referral program, but no investment programs. There is no basic verification, only an extended KYC verification. All major options for depositing funds, including MC and Visa cards are available. They use the cold method of storing cryptocurrencies, the site uses the latest protocols for protecting user data. There are no demo accounts or tutorials on the crypto exchange.
| 💰 Account currency: | Cryptocurrencies, EUR, USD |
| 🚀 Minimum deposit: | from $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | market |
| 🔧 Instruments: | Cryptocurrencies, EUR, USD |
| 💹 Margin Call / Stop Out: | No |
Bittrex Pros and Cons
👍 Advantages of trading with Bittrex:
•convenient and functional interface of the trading application;
•you can trade on the exchange through third-party terminals;
•there are almost all the most popular cryptocurrencies;
•high level of data and asset security;
•there are no restrictions on regions and trading strategies;
•high-speed deposits and withdrawals of funds;
•there is algorithmic trading via API.
👎 Disadvantages of Bittrex:
•there are no investment programs;
•there is no training materials for beginners;
•fiat is only represented by euros and US dollars
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.
Bittrex Trading Signals
Bittrex calculates commissions and fees based on the user’s trading level. The trading level is determined by the volume of trades over the last 30 days. This is a common practice that motivates traders to trade more and thus get better terms on commissions and fees.
There are currently nine trading levels. At the lowest—the first level—with a trading volume of up to USD 5,000, the taker/maker’s commissions are 0.75% of the transaction amount. At the highest—the ninth level—has a trading volume of 100,000,000 US dollars, the maker’s commission is 0.0%, the taker’s commission is 0.05%.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.75% per order | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Bittrex 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
Is automatic position opening based on signals possible?
Yes, it is what copy trading implies. In this case, all trades are copied automatically to the trader’s platform.
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
Can I lose money by trading signals?
Keep in mind that there are no ideal trading signals and trading signals may lead to a loss of funds. There are always risks.
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.