Uphold 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 Uphold trading signals. You will learn what kinds of trading signals Uphold offers and what the conditions for using them are.
Short introduction of Uphold
Uphold is a British exchange for trading cryptocurrencies, fiat currencies, precious metals, and stocks. Bitcoin (₿), Ethereum (Ξ), Tether (₮), Dash (Ð), DOGE, Cardano, BAT, Solana, and several other altcoins are available among cryptocurrencies. There are crypto-to-crypto and crypto-fiat pairs. Fiats include the American and Australian dollars, euros, pounds sterling, and several other national currencies. You can trade through the website or mobile application for iOS and Android. All users of the platform are provided with a free multicurrency wallet with a debit card attached. Many options for depositing and withdrawing funds are available, including bank accounts and other crypto wallets. Commissions differ by assets and trading region, and the maximum fee is 1.8% of the trade amount. The platform has an affiliate program, but no investment solutions.
| 💰 Account currency: | Cryptocurrencies, fiat currencies |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies, stocks, metals, eco-assets |
| 💹 Margin Call / Stop Out: | No |
Uphold Pros and Cons
👍 Advantages of trading with Uphold:
•trading in cryptocurrencies, tokens, fiat, stocks, and precious metals is available;
•many pairs of crypto-crypto and crypto-fiat, hundreds of trade and exchange directions;
•a free multicurrency wallet and a debit card with cashback linked to it;
•average commissions for cryptocurrency are from 0.8% to 1.2% for the USA and Europe regions, and up to 1.8% for other regions;
•there is an API, solutions for institutional accounts, and an integrated exchange service;
•no restrictions on trading strategies or large limits
•terminal with advanced functionality;
•integrated service for automatic trading such as AutoPilot for cryptocurrency and fiat;
•two-factor authentication;
•a significant part of clients' funds is cold-stored.
👎 Disadvantages of Uphold:
•there are no investment solutions (more precisely, they are available only through the secondary services of the company);
•there are no demo accounts or other special solutions for novice traders.
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.
Uphold Trading Signals
The exchange charges trading fees. Fees vary by cryptocurrencies, fiats, stocks, metals, and other assets. For cryptocurrencies, fees do not depend on the user's trading volume and other factors, except for the asset itself and the region from which the trader works.
For example, Bitcoin and Ethereum trading fees range from 0.8% to 1.2% in the USA and Europe. In other countries, the commission on these assets is fixed at 1.8%. Using geo-targeting, the program determines where the user is and immediately adjusts commissions for his region in the trading terminal of the browser or the mobile application. Regional commissions are applied automatically.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 1.8% per order | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Uphold 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
Is automatic position opening based on signals possible?
Yes, it is what copy trading implies. In this case, all trades are copied automatically to the trader’s platform.
How do I choose a signal provider?
Consider the profitability, the list of instruments the signals are provided for and the risk level of the strategy.
Do I need to test trading signals before subscribing to them?
Most definitely yes. Make sure that the signals do work and are effective.
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.