Quidax Trading Signals - TU Expert review

Updated: November 15, 2023

Mikhail Vnuchkov

Contributor

Reviewed by

Olga Shendetskaya

Editor

Full Quidax
overview

Quidax Trading Signals

Information

Traders Union analysts have analyzed the fees of Quidax. The main transaction fee is 0.1% for makers and 0.3% for takers.

Account type	Spread (minimum value)	Withdrawal commission
Standard	0.3%	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 Quidax

Quidax is a small regional exchange launched in the middle of 2018 in Nigeria. The main focus of the exchange is a platform to buy/sell cryptocurrencies, although the launch of DeFi and NFTs is also in the plans. The exchange offers access to trading over 25 coins, but ВТС and BNB account for over 50% of the trading volume. The available currency pairs include cryptocurrencies combined with stablecoins and the national currency of Nigeria naira. The daily trading volume of the exchange is USD 8-10 million. Based on the summary of criteria, CoinMarketCap analytical portal assigned the exchange a rating of 3.4 out of 10.

💰 Account currency:	Nigerian naira (NGN) and cryptocurrencies
🚀 Minimum deposit:	1$
⚖️ Leverage:	1:1
💱 Spread:	Market
🔧 Instruments:	Cryptocurrencies
💹 Margin Call / Stop Out:	No

Quidax Pros and Cons

👍 Advantages of trading with Quidax:

•High transaction processing speed;

•Order book that allows traders to quickly find the best prices;

•Technical solution that allows users to quickly exchange large amounts of cryptocurrencies. Proprietary app, which is a payment method for website owners.

👎 Disadvantages of Quidax:

•Withdrawal fee, and additional fees for faster withdrawal. High taker fee;

•No competitive advantages, unique products, instruments, etc.;

•It is impossible to work with USD and EUR.

Conclusion

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

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.

Can I reject a trading signal?

Yes, you can. However, if the signals are provided as a part of copy trading with automatic closing of positions, you need to monitor the platform.