Upbit 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 Upbit trading signals. You will learn what kinds of trading signals Upbit offers and what the conditions for using them are.
Short introduction of Upbit
The Upbit crypto exchange is a premier trading and exchange platform that was launched in South Korea on 24 October 2017, under the assistance of their partnership with the American cryptocurrency exchange Bittrex. It allows you to exchange and trade Bitcoin, Ethereum, Litecoin, Tether, Ripple, and other renowned cryptocurrencies. Unfortunately, only the Singapore dollar (SGD) is represented as fiat money here. The exchange operates legally, is licensed, has a huge trading volume, and dynamic growth of economic indicators. The platform does not offer investment and partnership programs because the functionality of the trading terminal is completely set for exchange and trade. On top of the web version, there is a mobile application for iOS and Android devices. Another significant advantage is low fixed commission charges for trading operations.
| 💰 Account currency: | Cryptos, SCG |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, SCG |
| 💹 Margin Call / Stop Out: | No |
Upbit Pros and Cons
👍 Advantages of trading with Upbit:
•the intuitive interface of the author's trading terminal;
•all the primary functions for buying and selling are presented;
•mobile trading with a built-in risk assessment system;
•the most renowned cryptocurrencies are traded on this exchange, there are pairs with fiat;
•two-level authentication means top-tier security;
•up-to-date analytics on cryptocurrency market trends;
•there is no evidence of fraud or unresolved conflicts.
👎 Disadvantages of Upbit:
•the exchange is focused on traders from the Asian region;
•only the Singapore dollar is represented by fiat funds;
•there are no investment, partnership, or training programs.
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.
Upbit Trading Signals
Commission charges for trading transactions on the site are equal to 0.2% for the taker and maker for all trades in which BTC and USDT are involved. Fees for other assets may differ. For example, if SGD is involved in the transaction, then the fee is fixed at 0.25%. Transaction fees include GST (Goods and Services Tax).
Transaction fee calculation method:
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Total order amount (order amount x order price) x transaction fee (%).
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The SGD market fee is displayed in 5 decimal places.
Transaction amount calculation method:
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Purchase transaction amount = order amount (order amount x order price) + transaction fee.
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Transaction amount on sale = order amount (order amount x order price) - transaction fee.
The actual fee (including the event discount) is displayed on the "Exchange - Order" screen. Fees may vary depending on the size of the event discount or the type of order.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.2% per order | No |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Upbit 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 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.
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, etc.
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.