SpectroCoin 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 SpectroCoin trading signals. You will learn what kinds of trading signals SpectroCoin offers and what the conditions for using them are.
Short introduction of SpectroCoin
The SpectroCoin exchange is a service for buying, selling, and exchanging cryptos-to-cryptos and cryptos-to-fiats. The crypto exchange provides users with a multi-currency e-wallet and a Visa debit card. Among the traded cryptocurrencies are Bitcoin (₿), Ethereum (Ξ), Tether (₮), Dash (Ð), XEM, Banker, True USD, Paxos Standard, and USD Coin. All operations are performed through a specialized application for the browser, and there are versions for mobile devices based on iOS and Android. It offers hot and cold storage for cryptocurrencies, and account protection is provided by two-factor authentication. All major deposit/withdrawal options are available, including bank transfers, mobile transfers, Sepa, Skrill, and other systems.
| 💰 Account currency: | Cryptos, fiat currencies |
| 🚀 Minimum deposit: | From £1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, fiat currencies |
| 💹 Margin Call / Stop Out: | No |
SpectroCoin Pros and Cons
👍 Advantages of trading with SpectroCoin:
•a vast array of cryptocurrencies and currencies for trading/exchange;
•virtual card for deposits/withdrawals with low fees;
•several deposit/withdrawal channels, including fiat;
•small minimum deposit (from £0.01, depending on the input method);
•possibility of receiving credits in cryptocurrency;
•provision of multi-purse and Visa cards;
•profitable referral program and Bug Bounty detection program.
👎 Disadvantages of SpectroCoin:
•no investment programs;
•no information about the license of the company.
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.
SpectroCoin Trading Signals
This crypto exchange, like all similar services, takes a commission for exchange and trading operations. The commission amount is calculated individually depending on the assets involved, transaction size, and region of the trader's residence.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Individually assessed | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that SpectroCoin 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
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, etc.
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.
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.
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.