GOPAX Trading Signals - TU Expert review

Updated: December 04, 2023

Mikhail Vnuchkov

Contributor

Reviewed by

Olga Shendetskaya

Editor

Full GOPAX
overview

GOPAX Trading Signals

Information

Experts at the Traders Union analyzed the commissions of the GOPAX cryptocurrency exchange. During their analysis, it was found that commission costs are formed taking into account the type of digital asset. Most cryptocurrencies, including BTC and ETH, can be deposited for free. The commission for withdrawal to a cryptocurrency wallet will be 0.001 for BTC and 0.016 for ETH.

Account type	Spread (minimum value)	Withdrawal commission
Standard	From $20	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:

Copy trading.
Email alerts.
Signals through a blog on the website.
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 GOPAX

GOPAX is a digital asset exchange founded by the Streami Inc. tech company in 2017. The cryptocurrency exchange is officially registered in Korea with offices in Korea, Hong Kong, and Denver. Its license number is 432-87-00120.
Within a relatively short period, the exchange has gained an audience of more than 376 thousand traders, which has provided it with a confident position in the list of the Top 10 Exchanges in the World. GOPAX is a centralized exchange for trading digital assets, which means that there is supervision from the state and global regulatory authorities.

💰 Account currency:	USDC, KRW
🚀 Minimum deposit:	$10
⚖️ Leverage:	1:1
💱 Spread:	Market
🔧 Instruments:	Cryptocurrencies, USDC, KRW
💹 Margin Call / Stop Out:	No

GOPAX Pros and Cons

👍 Advantages of trading with GOPAX:

•possession of an official license no. 432-87-00120 confirming that its financial activities are legal;

•the ability to trade various cryptocurrency pairs;

•optimal commission costs;

•the possibility of personal trading, i.e., working with experienced traders who select transactions that keep the client nearly always in the black;

•daily update of the markets;

•verification can be completed on the website without the need to download the mobile app;

•centralization — every transaction will be tracked by the regulator;

•deep liquidity;

•rapid regulation of markets.

👎 Disadvantages of GOPAX:

•the website has poor support for languages other than Korean;

•without mandatory verification, it will not be possible to make a deposit or withdraw earned funds;

•there are strict rules for using the exchange, and non-compliance may result in the trading account being blocked for an indefinite period.

Conclusion

Based on the results of the analysis, Traders Union analysts have concluded that GOPAX 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 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.

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.

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.