WazirX 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 WazirX trading signals. You will learn what kinds of trading signals WazirX offers and what the conditions for using them are.
Short introduction of WazirX
The WazirX exchange is a cryptocurrency exchange and trading platform. The site offers such assets as Bitcoin, Ethereum, Ripple, Litecoin, and others. The WRX is the platform's proprietary token, which was created to draw attention to the site and is the essence of the cryptocurrency exchange ecosystem. You can exchange the WRX token for cryptocurrencies and other tokenized assets. The company has developed its own trading terminal with a high degree of protection. The terminal is provided in desktop and mobile versions. The system’s infrastructure can vary scale in a few seconds to meet a growing demand and ensure high transaction rates. It is a young Indian exchange that uses advanced technologies and offers comfortable trading terms.
| 💰 Account currency: | Cryptocurrencies, INR |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, INR |
| 💹 Margin Call / Stop Out: | No |
WazirX Pros and Cons
👍 Advantages of trading with WazirX:
•variety of cryptocurrencies and tokens;
•you can replenish the balance using fiat currency;
•high-speed order execution;
•fast funds replenishment and withdrawals;
•the platform's proprietary token is traded without commission;
•simple interface, suitable for novice traders.
👎 Disadvantages of WazirX:
•overestimated commissions for individual assets;
•no discounts for high trading volumes.
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.
WazirX Trading Signals
The exchange transactions, deposits, and withdrawal commissions depend on the specific asset used in the transaction. The maker/taker fees for most assets is 0.2%. Example of terms: if you are trading Cardano (ADA), the deposit fee will be 3 ADA, the minimum deposit is 6 ADA, the limits on the minimum and maximum withdrawal are from 50 to 5141 ADA, respectively. Please note that commissions are zero for all the P2P operations, regardless of the transaction type and its volume.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From 0.2% per market order | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that WazirX 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.
Can trading signals be provided for free?
Brokers may offer free and paid trading signals.
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.
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.