Lbank 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 Lbank trading signals. You will learn what kinds of trading signals Lbank offers and what the conditions for using them are.
Lbank Trading Signals
The Lbank crypto exchange is widely known for its democratic policy regarding trading fees. There are no trading levels on the exchange, the commissions are fixed for all users, and the only condition is how to convert them using the rebates from Traders Union.
Commissions for the maker and the taker are equal, they are 0.1% regardless of the asset, trading volume, or other factors. Pending, limit and market orders, stop orders and other types of orders imply exactly this commission without any special conditions. There are no commissions for depositing funds, but the exchange charges a commission for their withdrawal.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.1% per order | 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:
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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.
Short introduction of Lbank
The Lbank crypto exchange offers a convenient service for margin, futures, options, and ETF cryptocurrency trading. Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), Ripple and dozens of other cryptocurrencies, and tokens are available for trading on the exchange. The US dollar and Chinese yuan are represented from fiat currencies, direct credit card deposits and cryptocurrency purchases are possible without depositing your own funds. A simplified service for fast trading is integrated into the exchange. The platform allows investing in third-party blockchain projects with a flexible deposit and high interest rates. There is a one-level referral program. The key feature of the exchange is an objectively low fixed commission on trading transactions (0.1%).
| 💰 Account currency: | Cryptos, USD, CNY |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, currencies, ETFs, Futures |
| 💹 Margin Call / Stop Out: | No |
Lbank Pros and Cons
👍 Advantages of trading with Lbank:
•tons of cryptocurrencies and tokens, margin, futures, options, and ETF trading;
•two fiat currencies — US dollar and Chinese yuan, most deposit/withdrawal options are available, including debit cards;
•direct purchase of cryptocurrency using bank cards and accounts is possible;
•profitable investment programs for passive income on unused cryptocurrency;
•standard referral program with interest payments from the commission of the invited user;
•non-obligatory FYC verification, high level of on-site security
👎 Disadvantages of Lbank:
•no demo accounts, training programs, or specialized solutions for beginners;
•connection with the technical support of the company is only by email;
•no call center.
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Lbank 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 I need to test trading signals before subscribing to them?
Most definitely yes. Make sure that the signals do work and are effective.
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 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.
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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.