Review on Upbit by Alex Martakov
Large trading volumes. The exchange has a high level of liquidity for traded…
Large trading volumes. The exchange has a high level of liquidity for traded pairs. Competitive commissions. Upbit does not charge a fee for the replenishment of the trading account, and the Commission for the withdrawal is minimal. At the same time, the exchange receives 0.05% for transactions, which is the average for the market. Bank transfers in Korea are possible. Upbit offers to replenish trading accounts in Korean won. A large number of currency pairs are available on the exchange. More than 200 instruments are presented here. All this became possible thanks to cooperation with Bittrex.
Despite the fact that the exchange was launched only in 2017, it has already become the leading one in terms of volumes in the country and bypasses its famous competitors. However, for traders from the CIS or Europe, for example, such information does not say anything, since there are practically no opportunities to work with the platform. Its developers have focused initially on users of cocoa, messenger, which is popular in South Korea. Therefore, for users from Europe, it is better to pay attention to the Hong Kong stock exchange, for example, or local European sites.
Pros
- The offered upbit trading terminal is professional, as it allows to carry out technical analysis and track the price. By default, the graph is established by the Japanese candlesticks. There is a set of tools for price forecasting. And among them you can find both classic indicators like moving averages, and graphical like Andrews ' pitchfork and so on. The only caveat-in the "Tools" all this is translated into Russian through a browser translator. The quality of the result is not very high. In the" Indicators " section, the translation is already much better. There is a full set of classical algorithms like Bollinger bands, ADX, oscillators, ATR, volume indicators and so on. Among the types of the chart, upbit has the opportunity to choose bars, volume and transparent candlesticks. The look of the platform can also be transformed. There are theme settings for this. A unique set of tools that completely changes the idea of conducting online trading. Users Upbit offers the possibility of special conditions for the purchase of futures. You can hedge risks using 15 types of contracts. Copperlark Trader trading platform allows you to work with algorithms. You can quickly open positions by pressing one button. This is very convenient when you need to make a lightning decision. The depth of market offers to view all pending orders and tracking the desired value of the asset. The transaction feed works in real time. This feature allows you to track the emergence of interesting opportunities to enter the market. Traders are given the opportunity to completely change the appearance of the platform to create the most convenient working part. You can edit tables.
Cons
- First of all, we can note the absence of not only Russian, but also English. Sometimes the exchange may be of interest to users from the former USSR if it has at least an English version. Here you will have to use a browser translator. The second disappointment is the possibility of replenishment only in Korean won. Accordingly, we will have to somehow open accounts in local banks. Another disadvantage is that the minimum order size is 1000 KRW. This can be an obstacle for those who are going to only try to work in the direction of cryptotrading.
