Zignaly Trading Bots Review 2022

Updated 01/12/2021

What Is Zignaly cryptobot?

Zignaly is a bot for automated cryptocurrency trading. It receives data from external signal providers, allowing users to make automated trades. Zignaly works in conjunction with signal providers such as TradingView, which you can plug in and use to get trading indicators. In addition to TradingView, you can also use a proprietary trading terminal to customise your trading strategy.

Review Summary

Advantages and disadvantages

Zignaly is a crypto-bot, terminal and signals platform. Launched in early 2018, it has become one of the most popular trading bot providers in the cryptocurrency market.

In just one year since launch, the platform has grown with unprecedented profitability. This is largely due to its automated bot service. The service bot focuses on basic and advanced trading mechanisms and works according to predefined strategies to get the most out of market trends.

Zignaly provides its services via the cloud. This ensures that users can access it from anywhere, even if they do not have a computer at hand. With it, the platform also gives users access to an unlimited number of cryptocurrencies available on the supported exchange.

With several options for trading signals and order types, the robot ensures that day traders can take a break from monitoring the market without losing finances by entrusting the analysis and execution of trades to the bot.

As this is the main function of an efficient trading bot, this simple yet fruitful approach has made Zignaly very popular among cryptocurrency users.

Reputation

Zignaly is one of the most recommended trading bots among the cryptocurrency community. From Reddit to BitcoinTalk, those who have used the tool are ready to literally sign up as its fans.

This phenomenon doesn't just apply to people who have used the platform themselves. Critics who have studied the tool professionally are also of the opinion that Zignaly has what it takes to be a staple service for even the most professional traders.

Zignaly does what no other trading bot does for its clients. It publishes real-time performance information for transparency. The platform ensures that it has provided all relevant information, such as monthly income and burn and churn rates.

Instead of hiding behind complex numbers, details are presented in easy-to-understand charts. Because this level of transparency is not commonplace, it gives Zignaly a significant advantage and a big reputational advantage.

What Exchanges does Zignaly support?

Zignaly currently supports the following exchanges:

The developers promise that support for other cryptocurrency exchanges will appear in the near future.

Plans

Zignaly does not have a subscription model, it is free to use.

Zignaly Minimum Deposit

The minimum deposit amount is equivalent to 250 GBP. You can also deposit in bitcoins, U.S. dollars and other ways via payment systems.

How the Zignaly works

Registration

To start working with Zignaly, you need to register on the official website of the cryptobot.

To do this on the main page in the upper right corner of the site, click Sign Up. After that the registration page will open.

All you need to do to register is enter the following information:

After that you need to agree with rules of service usage, agree or refuse to receive cryptobot notifications, and then the registration process will be completed.

Account Settings

After registration the main page of the service will open.

Clicking on the user portrait opens a list of available account options. The list consists of the following items:

My Exchange Accounts - Here you can create an account on Binance or connect an existing account on one of Zignaly supported exchanges;

Settings - There are four sections with the following parameters:

Discord Group - This link opens Zignaly's official Discord group;

Help Docs - This link takes you to the Zignaly knowledge base page;

Language - Here you can change the language of the site interface;

Sign Out - To log out of the system.

Automatic cryptocurrency copy-trading

The main difference between Zignaly and other cryptobots is automated cryptocurrency copy-trading.

Most users come to the Zignaly platform with the goal of profiting from their cryptocurrency assets. But they find that even with the ability to use vendor signals, they still need to keep the right settings, calculate the right position size and manage risk. This becomes a barrier for the user, and Zignaly wants to get rid of it.

The automatic copy-trading feature means that you copy the actions of experienced traders into your account automatically at the click of a button, and start trading based on their signals with fully automatic control of the process.

How to copy successful cryptocurrency traders

This process is very simple, you only need to follow two steps:

As you can see, there is no need to save settings, adjust position size or even manage positions in the future, it's all left up to the copied trader, it's a fully automatic process.

Be sure to check the past results of the trader you are copying before turning it on. Zignaly has a manual filter that allows you to remove traders who do not have a long-term profitable strategy, but we recommend always checking them yourself.

Zignaly's copy-trading service always uses a proportional position size. This means users always get the same results as the expert trader they are copying.

Let's say the trader being copied allocated 0.1 BTC, while you have only 0.01 BTC.

If he opens a position with 10% of your balance, he will use 0.01 BTC and the position opened on your account will be 0.001 BTC.

If he gets profit + 10% when closing that position, the user will get the same profit + 10%, but depending on his balance.

The cost of automatic copy-trading

The list of copy traders is constantly growing and Zignaly already has successful traders for Bitcoin, ETH, BNB and USDT. Each copy trader charges a different price for the copy service. Right now there are some free traders and the maximum price is £35/month. Anyway, most of them have a free trial period, so users can test them for free.

Conclusion

Zignaly offers a great trading environment for its users. The platform is quite user-friendly for professionals and beginners alike. Zignaly has no limit on trades, so you can trade any currency pair available on the exchange platform.

Like other cryptobots, Zignaly has no direct access to customer funds. All transactions are made only through the exchange that the trader uses. This ensures a high level of security for the platform.

Zignaly also has excellent user support. Overall, it is a good option for automated cryptocurrency trading.

Latest page updates

1 December 2021 - Added minimum deposit information