Indodax 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 Indodax trading signals. You will learn what kinds of trading signals Indodax offers and what the conditions for using them are.
Short introduction of Indodax
The Indodax cryptocurrency exchange is the largest in Indonesia and one of the world’s leading platforms for exchanging and trading cryptocurrency. Bitcoin (₿), Ethereum (Ξ), Ripple, DASH (Ð), dozens of other altcoins, and tokens are traded on it. Of the fiats, they have only the Indonesian rupee (IDR). The platform has a standard TradingView terminal, and there is also an opportunity for mobile trading. Trading fees are fixed at 0% for the maker and 0.3% for the taker. There are no commissions to start trading/exchanging. In terms of commissions, Indodax makes one of the best deals in the market segment. The platform does not offer investment solutions. You can only earn passively through the referral program. There is a FAQs section for beginners, but no demo accounts. You have access to several options for depositing/withdrawing cryptocurrencies and fiats.
| 💰 Account currency: | Cryptocurrencies, IDR |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
Indodax Pros and Cons
👍 Advantages of trading with Indodax:
•many cryptocurrencies and tokens and exchange/trade are possible in tandem with the Indonesian rupee;
•cold storage of funds, two-factor authentication, high level of information security;
•convenient trading terminal, mobile application with an intuitive interface;
•high-speed platform with impressive trading volumes in the 24/7 mode;
•prompt technical support (there is a multi-channel call center and email);
•objectively low trading commissions, no commissions for depositing funds (fees are charged only in special cases);
•the platform operates officially and transparently under the license of the national regulator.
👎 Disadvantages of Indodax:
•no demo accounts or tutorials for beginners;
•only the Indonesian rupee (IDR) is available among fiats to trade.
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.
Indodax Trading Signals
Indodax charges a flat fee of 0.3% for taker/instant stop order. The maker’s commission is always 0.0%. Please note that in some situations, the taker’s commission may be less than 0.3%. They are described in detail in the “Indodax detailed fees” section of the support center.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | up to 0.3% per order | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Indodax 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
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
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.
How are the signals provided via a newsletter?
A trader regularly receives trading signals to his/her email or personal messages in the account. As a rule, they are provided in the form of a report with screenshots of technical analysis.
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.