Phemex 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 Phemex trading signals. You will learn what kinds of trading signals Phemex offers and what the conditions for using them are.
Short introduction of Phemex
The Phemex exchange is a platform for spot and contract trading of cryptocurrencies. Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), Dash (Ð), Ripple, DOGE, DOT, ADA, and many other cryptocurrencies and tokens are available for trading on this platform. The exchange stands out for its low fees: 0.1% for spot, and 0.075/-0.025% for contracts (taker/maker, respectively). Premium account reduces spot fees to 0%, and there are no withdrawal limits. The only fiat currency available on the site is the US dollar. All basic deposit/withdrawal options are available, including direct transfers from bank cards. The exchange offers a demo account, educational guides with the possibility of earning cryptocurrency, and a welcome bonus for newcomers. There are investment solutions with payouts of up to 10% per annum. The platform is lightning fast and is stable. Also, there are mobile versions.
| 💰 Account currency: | Cryptos, USD |
| 🚀 Minimum deposit: | ₿0.00000001 |
| ⚖️ Leverage: | Up to х100 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, currencies, USD |
| 💹 Margin Call / Stop Out: | No |
Phemex Pros and Cons
👍 Advantages of trading with Phemex:
•spot and contracts, loads of cryptocurrencies, tokens, and the US dollar;
•the ability to reduce spot trading fees to 0%;
•leverage x100 is available for contract trading;
•minimum deposit only ₿0.00000001 (or the equivalent);
•demo accounts and free premium mode test;
•extensive knowledge base, and tutorial guides with crypto payouts;
•referral program with discounts on commissions;
•investment programs with flexible and fixed deposits;
•Star Composition program gives users new opportunities;
•cold storage of funds, high levels of data protection.
👎 Disadvantages of Phemex:
•communication with technical support is conducted via email only;
•without a premium account, trading conditions are less favorable.
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.
Phemex Trading Signals
The Phemex cryptocurrency exchange charges users a commission for each trade conducted on the site. Commissions are not affected by a customer's trading volume. The only factor that is taken into account when calculating their size is the presence or absence of a premium account. Standard commissions for the average user are as follows:
-
0.1% for a taker/maker on a spot;
-
0.1% for bot;
-
0.075% for a taker on contracts;
-
-0.025% for makers on contracts.
For Premium account holders the difference is that the spot fees for taker/maker positions are 0%. All users have the opportunity to get a 10% discount on the taker commission for each invited referral (the discount is cumulative only up to 30%) for 30 days.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.1% per order | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Phemex 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.
- PrimeXBT Trading Signals
- BLACKWELL GLOBAL Trading Signals
- Royal Trading Signals - Oneroyal.com Review by TU Expert
- Admiral Markets Trading Signals
- Yobit Trading Signals
- IFC Markets Trading Signals
- BAXTER-FX Trading Signals
- OctaFX Trading Signals
- Exclusive Capital Trading Signals
- Darwinex Trading Signals
- Velocity Trade Trading Signals
- Bilaxy Trading Signals
- CoinEx Trading Signals
- Scandinavian Capital Markets Trading Signals
- XM Broker Trading Signals
- Just2Trade Trading Signals
- Bittrex Trading Signals
- XT.com Trading Signals
- Deribit Trading Signals
- LMFX Trading Signals
- Skilling Trading Signals
- FxGrow Trading Signals
- CGS-CIMB Securities Trading Signals
- Axi Trading Signals - AxiTrader Review by TU Expert
- Indodax Trading Signals
- HFM Trading Signals
- Eightcap Trading Signals
- Capital Street FX Trading Signals
- LCG Trading Signals
- easyMarkets Trading Signals
FAQs
Are there fees charged for trading signals?
Yes. As a rule, the fee is charged as a markup to the spread, or it could be a subscription fee, or a percentage of the profit, etc.
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, etc.
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.