Swyftx 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 Swyftx trading signals. You will learn what kinds of trading signals Swyftx offers and what the conditions for using them are.
Short introduction of Swyftx
The Swyftx crypto exchange has all popular cryptocurrencies and tokens available for trading such as Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Ark, ICON, Neo, Orchid, and dozens of other popular assets. Yet, only the Australian dollar (AUD) is represented from fiat currencies. It offers a multicurrency wallet, and several depositing and withdrawing options are available, including bank transfers in fiat currency. The TradingView terminal is adaptive, and you can trade using a browser on your PC, smartphone, or tablet. There is a demo mode that has a training system for beginners with up-to-date articles. The maximum trading commission is 0.6%, which decreases as the trading volume increases. Commissions for deposits are absent. If you withdraw in Australian dollars, Swyftx does not charge commissions.
| 💰 Account currency: | Cryptos, AUD |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, AUD |
| 💹 Margin Call / Stop Out: | No |
Swyftx Pros and Cons
👍 Advantages of trading with Swyftx:
•hundreds of cryptocurrencies and tokens and the AUD are available for trading;
•the maximum commission is 0.6% (reduced when trading volumes increase);
•upgraded TradingView terminal with added features;
•the terminal is adaptive, the exchange site is easy to work with on all devices, including smartphones;
•average exchange spread is 1.7% (the average in the segment is 4%);
•transparent working conditions and no additional fees;
•recommended bundles, recurring orders, automatic stop and limit orders;
•For advanced traders, there is API, login security 2FA (two-factor authentication), integration with PayID, OSKO, and POLi.
👎 Disadvantages of Swyftx:
•the exchange is focused on active trading, so there are no investment solutions, referral programs, and other options for passive income;
•there are no other fiat currencies except the Australian dollar.
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.
Swyftx Trading Signals
The Swyftx cryptocurrency exchange offers an optimal fee policy. The standard spot trading fees are equal for the taker and the maker, and they do not depend on the asset or the volume of the actual transaction. The value of the fee is 0.6% of the transaction amount.
There are two ways to reduce fees on trading operations. The first way is to increase the volume of trades. The exchange has no trading levels in its traditional sense. The client cannot calculate the amount of discount in advance, but over time, the fees for him at the time of the transaction will be reduced, recalculation is permanent according to the activity of the trader.
The second option to reduce fees is by rebates — a return of a portion of the commission — on the exchange’s fees. This can be done through the Traders Union rebate service. Experts highly recommend using all available possibilities because under standard conditions the site's commissions are at a level of the average market.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.6% per order | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Swyftx 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
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.
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.
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.