Signal Quotex is a new cryptocurrency trading platform that has been gaining popularity recently. Here is a beginner's guide to help you get started with Signal Quotex.
What is Signal Quotex?
Signal Quotex is a centralized cryptocurrency exchange that allows users to trade various cryptocurrencies like Bitcoin, Ethereum, Litecoin etc. against fiat currencies. The platform was launched in 2021 and is based out of Estonia.
Some key features of Signal Quotex:
- Easy to use interface for beginners
- Low fees compared to other crypto exchanges
- High liquidity with orderbooks from global liquidity providers
- Support for spot trading as well as futures and margin trading
- Available on Web, Android and iOS apps
Getting Started with Signal Quotex
Here are the steps to get started with Signal Quotex:
- Sign up – Go to signalquotex.com and click on ‘Register'. Enter your email and password to sign up.
- Verify your account – You will receive an email with a verification link. Click on it to verify your account. This is required for security purposes.
- Complete KYC – Signal Quotex requires identity verification (KYC) before you can start trading. Click on your profile and complete the KYC by providing documents like passport, driver's license etc.
- Deposit funds – Once your account is verified, you can deposit USD, EUR or USDT to fund your Signal Quotex account using various payment methods like bank transfer, credit/debit cards etc.
- Start trading – You can now access the exchange platform and start trading by searching for currency pairs. The interface is quite intuitive with market orders, limit orders etc.
Some of the major cryptocurrencies supported by Signal Quotex currently:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Polkadot (DOT)
- Dogecoin (DOGE)
- Shiba Inu (SHIB)
- Solana (SOL)
New cryptocurrencies are frequently added, so check the platform for the latest list.
Signal Quotex Fees
Signal Quotex charges a flat fee of 0.1% per trade. This is lower than fees at many competing exchanges.
There are no deposit fees. Withdrawal fees vary per cryptocurrency. For example, BTC withdrawal costs 0.0005 BTC.
Users with a QTX token balance on the exchange can get up to 20% discount on trading fees.
Signal Quotex Security Features
Signal Quotex implements strong security measures to protect user funds:
- 98% of user funds stored in cold wallets to minimize risk
- Multi-signature wallets require multiple keys for access
- Two-factor authentication available
- DDoS protection and data encryption in place
- Only 2% funds stored in hot wallets for liquidity
- Full compliance with KYC and AML regulations
Pros and Cons of Signal Quotex
- Easy to use platform ideal for beginners
- Low trading fees compared to competitors
- High liquidity results in good prices and fast trades
- Supports many cryptocurrencies with more being added
- Strong security measures like cold storage wallets
- Being a centralized exchange carries inherent risks
- Limited payment options – no crypto deposits/withdrawals
- Higher withdrawal fees for some cryptocurrencies
- Not available in the USA currently
Signal Quotex can be a good option for beginners looking for an easy and cheap platform to trade popular cryptocurrencies. The lack of crypto wallets may be an issue for advanced traders who prefer to control their own private keys. But overall it is a solid cryptocurrency exchange withcompetitive fees.
Just remember to enable security features like 2FA and store funds in your own wallet instead of on the exchange for better protection.
Frequently Asked Questions
Here are some common questions about Signal Quotex:
1. Is Signal Quotex safe to use?
Signal Quotex implements robust security measures to secure user data and funds. However, like all centralized exchanges, there is inherent risk involved. It is best to withdraw your cryptocurrencies into your own wallet instead of leaving large amounts on the exchange. Enable 2FA for additional account security.
2. What are Signal Quotex's trading fees?
Signal Quotex charges a flat 0.1% fee per trade. There are no deposit fees, and withdrawal fees vary by cryptocurrency. QTX token holders get up to 20% discount on trading fees.
3. How long do deposits and withdrawals take?
Fiat currency deposits via bank transfer or cards are usually processed within 1 business day. Withdrawals can take 1-3 business days depending on currency. Cryptocurrency withdrawals are processed within 2 hours.
4. Does Signal Quotex have a mobile app?
Yes, Signal Quotex has mobile apps available for both Android and iOS. This allows you to trade cryptocurrencies on the go.
5. What countries allow use of Signal Quotex?
Signal Quotex currently does not allow users from the USA. It accepts users from most other countries worldwide, with a focus on the EU market. Users just need to complete KYC verification.
6. How is Signal Quotex customer support?
Signal Quotex provides customer support via email and live chat. Support is available 24/7. Users generally have a positive experience interacting with customer support agents.
7. What are limit orders and stop losses?
Limit orders allow you to set a target price at which you want to buy or sell. The order will only execute at that set limit price or better. Stop losses allow you to set a price at which a position will be automatically closed to prevent further losses.
8. How do I deposit fiat currencies?
Login to your Signal Quotex account, click Wallet, then Deposit. You will see various fiat currency deposit options like bank transfer and credit/debit cards. Follow the instructions to deposit funds which will reflect in your account balance.
9. Can I connect to Signal Quotex via API?
Yes, Signal Quotex provides an API that experienced developers can use to build automated trading bots and tools to interact with the exchange programmatically. The API documentation is available on their website.
10. Where can I view the Signal Quotex order book?
When you select a trading pair on Signal Quotex, the order book is displayed on the left along with the price chart. The order book gives you a real-time list of current buy and sell orders for that pair. It lets you see market depth and liquidity.