Poloniex 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 Poloniex trading signals. You will learn what kinds of trading signals Poloniex offers and what the conditions for using them are.
Short introduction of Poloniex
The Poloniex exchange is a platform for exchanging cryptocurrencies and spot and margin transactions. The service offers a proprietary web terminal and mobile version. Bitcoin, Ethereum, USDT, and several dozen other popular cryptocurrencies are traded on the exchange. There are also fiat pairs. Poloniex.com offers two passive earning options as simplified staking and P2P lending. There is a community of cryptocurrency traders on Poloniex called Poloniex Learn. There, the latest news and analytics are regularly published. The crypto exchange also has an insurance fund, which indicates the safety of Poloniex. The cryptocurrency exchange offers detailed guides on contracts and high-quality analytics on spot prices for indices. Analytical materials are available even to unregistered users.
| 💰 Account currency: | Cryptocurrencies, fiat currencies |
| 🚀 Minimum deposit: | $50 |
| ⚖️ Leverage: | Up to 1:100 |
| 💱 Spread: | 0.125% |
| 🔧 Instruments: | Cryptocurrencies, fiat currencies |
| 💹 Margin Call / Stop Out: | No |
Poloniex Pros and Cons
👍 Advantages of trading with Poloniex:
•fiat pairs;
•simple and user-friendly interface;
•high turnover of trades;
•the possibility of lending;
•low transaction fees;
•convenient technical tools;
•deep analytics;
•high-security level.
👎 Disadvantages of Poloniex:
•there is no direct connection with technical support (only messengers, mail, social networks);
•unjustified blocking of accounts has been noticed in the past.
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.
Poloniex Trading Signals
Poloniex cryptocurrency exchange charges transaction fees to its users. The commission size depends on the trading level. The trading level is determined by the trading volume and the fund’s amount on the account. The commission is 0.125% for the maker and recipient at the first (lowest) trading level. At the sixth and highest level, the commission is 0.000% for the maker and 0.070% for the recipient.
There are reduced commissions for users with one of the VIP accounts—Poloniex Plus Silver or Poloniex Plus Gold. Users with the Poloniex Market Maker status have the lowest possible commissions. This status shall be assigned on an individual basis. The commission for trading futures is fixed, which is 0.01% and 0.075% for the maker and recipient, respectively.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From 0.125% per market order | On an individual basis |
Conclusion
Based on the results of the analysis of the Poloniex trading signals, Traders Union analysts established that the conditions are average. The broker offers limited opportunities for the clients choose its trading signals. However, there are also benefits, which is why they can be considered for investment. Keep in mind that trading signals carry the risk of losses and make sure to use the rules of risk management.
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FAQs
How do I choose a signal provider?
Consider the profitability, the list of instruments the signals are provided for and the risk level of the strategy.
Can trading signals be provided for free?
Brokers may offer free and paid trading signals.
Can I subscribe to several signal providers?
As a rule, brokers allow traders to do that. It is important to subscribe to several providers or newsletters, as it helps diversify the risks.
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.