CoinDCX 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 CoinDCX trading signals. You will learn what kinds of trading signals CoinDCX offers and what the conditions for using them are.
Short introduction of CoinDCX
The CoinDCX exchange is a platform for spot, margin, and futures trading using cryptocurrencies and tokens. CoinDCX’s clients have access to Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), Ripple, AAVE, NEO, PAX, and many other assets. Only Indian rupees are represented as fiat currency. The leverage for the spot is x6 and x20 for margin trading. Fees for trades are determined by the volume of trades. The largest fee is 0.1% for taker/maker. The exchange offers several options for investing in cryptocurrencies, including staking and lending in addition to cryptocurrency trading. There is a referral program with fixed payments for each partner. An exchange feature is its proprietary academy with an extensive database and guides, including video courses on cryptocurrency trading.
| 💰 Account currency: | Cryptocurrencies, INR |
| 🚀 Minimum deposit: | INR 100 |
| ⚖️ Leverage: | Up to х6 (spot), up to х20 (margin) |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, INR |
| 💹 Margin Call / Stop Out: | No |
CoinDCX Pros and Cons
👍 Advantages of trading with CoinDCX:
•the most popular cryptocurrencies and coins are present;
•significant leverage for spot and margin;
•simple and functional TradingView terminal;
•proprietary applications for mobile trading;
•low commission fees (up to 0.04/0.06% for maker/taker);
•several options for investing in cryptocurrency;
•Bug Bounty program with cash bonuses;
•high levels of security;
•funds kept in cold storage;
•referral program with fixed payments;
•an extensive database;
•lots of training materials.
👎 Disadvantages of CoinDCX:
•only Indian rupees are represented in the range of fiats;
•demo accounts are not available;
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.
CoinDCX Trading Signals
A commission is charged for each trade. By default, commissions are calculated as a percentage of the volume of the transaction currency quoted. Some pairs allow the commission to be calculated based on the base currency of the transaction, which can be specified at checkout using the "commission currency" option.
Its value depends on your trading level. The level, in turn, is determined by the total trading volume for the previous 45 calendar days. The more you trade, the higher your trading level and the lower the commissions on your transactions. There are 10 levels in total. The taker and maker commissions are equal only on the first level (up to ₿5 traded in 45 days), and it is 0.1%.
Further, the commissions are reduced, for the maker it is faster. For example, at the fifth level, with a trading volume of ₿100-500 in 45 days, the maker's commission is 0.08%, and the taker's commission is still 0.1%. At the highest (tenth) level, with a trading volume of over ₿250,000 in 45 days, the commissions are 0.04%, and 0.06% for the maker and taker, respectively.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.1% per application | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that CoinDCX 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
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, 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.
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.