Swyftx Trading Signals - TU Expert review

Updated: October 30, 2023

Mikhail Vnuchkov

Contributor

Reviewed by

Olga Shendetskaya

Editor

Full Swyftx
overview

Swyftx Trading Signals

Information

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

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 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.

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

Do I need to test trading signals before subscribing to them?

Most definitely yes. Make sure that the signals do work and are effective.

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 lose money by trading signals?

Keep in mind that there are no ideal trading signals and trading signals may lead to a loss of funds. There are always risks.