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Zignaly is a cryptocurrency bot and copy-trade platform that offers traders numerous opportunities to profit from the market with little to no involvement. But is Zignaly as good as it claims and what are the limitations of its profit-sharing system? This Zignaly review will explore the top features, supported bots, copy-trading system, pricing, and customer support.
Zignaly has a unique approach to cryptocurrency investing from its competitors with its crypto profit sharing, copy trading, and Zignaly bridge. For serious users, it is an attractive platform to share profits with the best traders on the platform. With more than 430,000 users, it is a top crypto copy-trade platform with opportunities to find a profitable crypto trader, moreover, there are no subscriptions or fees for losing trades.
In addition, Zignaly integrates with big-name crypto exchanges such as Binance and KuCoin, making the possibilities endless with hundreds of trading pairs. However, there are some limitations such as not having a demo account, no mobile app, and the 30% commission on successful copy-trades is a large portion to give up.
- Robust and secure copy-trade platform for crypto and automated bots
- Does not hold crypto assets and obtains liquidity from Binance
- Earn profits through copy-trading bot or share profits with the top traders
- Configure trading strategies or copy top traders’ trades 14-day trial for newly registered accounts
- No minimum trade amount, deposit or withdrawal fees
- Does not have a mobile app to monitor bots and copy-trading performance on the go
- Has limited crypto exchange support (only 5)
- No information on the trading bot’s success rate
- There is no demo trading mode to test the bots or followed traders
Zignaly is a purpose-built trading platform that is focused on cryptocurrency copy-trading, profit sharing, and automated bots. Its cloud-based automation services for trading are suitable for various levels of experience. However, institutional and professional traders are at the forefront of its services particularly through the profit using the social trading bot.
|Year of Launch||2018|
|Supported Exchanges||Binance, Bitmex, OKEX, FTX, and KuCoin|
|Trading Bots||Copy-trade and DCA|
|Number of Copy-Traders||137 at the time of writing|
|Pricing||An average of 30% Success Fee, depending on the copied trader|
|Security||2FA, Malware Protection, SAFU Fund Protection, Data encryption, etc.|
How Does Zignaly Work?
Zignaly is a trading terminal that allows users to set full trading strategies with concurrent orders using the same exchange balance. Day traders can use a trading bot to execute the configured strategy across the supported crypto exchanges. Investors can copy the trades of successful cryptocurrency traders, after browsing their success rates and potential profits from the leaderboard. When an investor decides to copy an expert’s trade, the investor’s bot automatically repeats every move the expert makes and uses the same strategy to trade.
The advantage of copying trades on Zignaly is that it has a low barrier to entry. However, there’s also the risk of losing money if the selected trader makes a wrong move. Alternatively, there is a profit-sharing model that is an extension of the copy-trade feature. Users can back in top-performing traders and share the upside and spend only a portion of the accumulated profits as a fee.
Review of the Top Features on Zignaly
Zignaly’s trade copying tool sets it apart from many crypto trading platforms around today. The seamless, results-driven tool allows investors to copy successful traders with a proven track record on Zignaly and position themselves for more profit. Users must set a predicted balance, and the platform will automatically replicate the required trading activity using the expert’s decisions as a yardstick.
It’s important to note that before the copy trading bot initiates trades, the investor must define the market positions and settings. Alternatively, seasoned crypto investors can register to become Zignaly copy traders and earn income from inexperienced traders copying their trading strategies. This simple approach to its trading makes Zignaly suitable for traders across all experience levels and a worthy alternative to copy-trading competitors such as PrimeXBT, Cryptohopper and Pionex.
Perhaps one of the most attractive features of Zignaly is its sharing of profits by copying trades from experts. A different method to the copy-trading bot, this tool will automatically buy and sell Bitcoin or other cryptocurrencies using experts’ strategies. Both the trader and follower are rewarded for a successful trade. The follower gets a percentage of the profit, while the experienced trader gets an additional reward from the followers' fees paid whenever profit is made.
For example, a user can duplicate trades from 50 experts based on their performance history and effective strategies. Fees are not charged until profits are made on any of the positions.
In addition, the traders can be examined before deciding to follow their trades. The trading performance can be inspected for each month, including the open and closed positions. The traders' profile also provides a summary of the trading strategy used, their overall trading volume, and maximum drawdown which is important to check.
This significant benefit of the sharing model sets the tool apart from traditional trading tools as there are no initial fees. Investors can also diversify their portfolios by investing in as many expert traders as they like without investing a minimum amount. This is truly a game-changer and a top feature of Zignaly, however, there are only 137 traders to choose from at the time of writing.
Apart from copy trading and profit-sharing, another way to make money from Zignaly is through its utility token called ZIG. The ZigCoin powers the Zignaly ecosystem, and its introduction has given traction to the trading platform. The token serves different purposes on the platform, including staking, paying trading fees, and success fees for profit sharing.
For context, when investors stake the ZIG token on Zignaly, they earn rewards - depending on the staking period. Customers can also enjoy 15% cashback when they pay trading fees using ZIG and a 6% discount when they pay profit-sharing success fees with ZIG.
The ZIG token also has inherent value outside of the Zignaly ecosystem. At the time of writing, Zigcoin is listed on exchanges and valued at $0.007787 with a 24-hour trading volume of $315,058. In addition, to transfer ZIG tokens, there is the Zignaly Bridge which essentially converts ZIG tokens from the Ethereum network to a different (and cheaper) blockchain such as the Binance Smart Chain, or Polygon to Solana. For a list of other blockchain bridges and what they are, read this article.
For users that just want to trade cryptos, there is Zignaly Exchange which is integrated into Binance via the Binance Broker Program. This essentially means users can leverage the market liquidity and depth of Binance, without creating an account there. Moreover, like other integrated exchanges, investors can create a Zignaly Exchange account and select any Binance crypto trading pair to execute trades using automated bots, copy-trading, and profit sharing.
Zignaly Compared and Alternatives
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|None available at this time||Visit eToro|
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
|Depends on exchange connected||None|
|None available at this time||Visit Coinrule||Coinrule Review|
|BTC, ETH, XRP, and 334 Others||0.1% (spot), 0.06% / 0.01% (futures)|
|Up to $6,050 Crypto Sign Up Bonus||Visit Phemex||Phemex Review|
|None available at this time||Visit Prime XBT||Prime XBT Review|
Supported Exchanges and Trading Pairs
Zignaly supports 5 cryptocurrency exchanges via API to find trading pairs and execute trades. The benefit of Zignaly is that trades can be placed across these exchanges simultaneously to spread collateral. The supported exchanges include Binance, Bitmex, OKX, FTX, and KuCoin, which is quite limited when compared to other copy-trade and bot platforms in the market. Moreover, FTX is no longer available.
However, there is still access to over 100 cryptocurrencies on Zignaly which even include unpopular coins like Bancor (BNT) and BinaryX (BNX). Other available cryptocurrencies on Zignaly include BTC, ETH, USDT, BUSD, LAZIO, KAVA, LTC, OCEAN, DASH, ALGO, LOOM, BNB, AVAX, DOGE, MATIC, APE, SUSHI, XRP, OSMO, and others.
Zignaly is a cloud-based platform that does not require an installation and complicated settings to set up, unlike Gunbot. The robot trades directly on selected exchanges using an API and can be toggled within the Zignaly terminal. On review of the user interface, trading on Zignaly is simple, intuitive, and functional. All features and icons are neatly arranged, making it easy for investors to preview the features and understand how they function.
Similar to most advanced trading platforms for crypto, users on Zignaly have access to risk management tools such as stop-loss, take-profit, trailing-stop, has integration with TradingView, a top crypto charting platform. Adjacent to the charts, the order window is minimal in design with basic fields to select the trading pair, order type, entry price, and order size.
There are further options to set a DCA re-buy price and close pending orders based on time expiry that can be activated easily from the platform. Overall, the trading platform on Zignaly has been well thought out and is suitable for beginners. However, serious crypto traders may find the exchange lacking in features such as order books, recent trade history, and specialized risk management orders.
Zignaly is free to use and investors can easily access the platform for all their trading and investment needs at no cost. There are zero monthly subscriptions or additional costs to create an exchange account. In other words, both the platform’s basic and advanced trading tools can be used for free. However, connected exchanges will still apply a trading fee for trades made through the API.
There is a commission charged by Zignaly called the "success fee" on its profit-sharing strategy. The success fee is 30% of the profit made on closed trades. The fees are split between the trader, follower, and Zignaly as follows:
- 70% of the profit goes to the trader
- 25% of the profit goes to the follower
- 5% of the profit goes to Zignaly
Zignaly is essentially a non-custodial platform that does not have direct access to user funds. The platform is integrated into Binance via APIs, which means the user's crypto assets are stored with Binance which is an internationally recognized exchange with the ISO/IEC 27001 certification and SAFU fund protection that covers Zignaly traders.
Zignaly requires all customers to undergo an identity verification process after creating an account to ensure every investor is legit and mitigate scam risks. The API keys used to connect crypto exchanges to the Zignaly trading software are RSA-encrypted and stored in a database with no public or owner access. Overall, these security features make Zignaly a safe platform for copy-trading and using crypto bots.
Zignaly’s customer support can be contacted 24/7 to provide assistance when using the Zignaly trading platform. There are various options to lodge a query using the chat box, which responded within two minutes of our testing, or social media channels. when it comes to customer feedback, Zignaly has a 3.9-star rating on Trustpilot, with 59% of existing customers stating that the Zignaly platform delivers on its promises. Overall, Zignaly has a good reputation, however, there were some comments criticizing the low number of traders to copy and a slow user interface.
Frequently Asked Questions
Zignaly users can implement their own strategies without paying a monthly subscription fee. However, investors who want to copy trades of professional asset managers via the profit-sharing feature must pay an average of 30% fee for successful trades. However, customers who want to use the services of a trader have to pay the trader’s fees. Moreover, connected exchanges via API will charge trading fees that are paid by the trader on the respective platform.
Zignaly is compatible with the international Binance exchange, however, traders that reside in the United States will not be able to connect using Binance.US at the time of writing.
To conclude this review of Zignaly, its main strengths are the automated bots with copy trading and profit-sharing services. Its unique features, combined with its user-friendly interface make it easy for investors to trade Bitcoin and other cryptocurrencies across multiple exchanges.
However, Zignaly isn't a strong service when it comes to a variety of bots to choose from when compared to the best crypto bots in the market. While the copy-trade bot is useful, there are limitations in terms of available crypto exchanges and traders on the platform to follow. Moreover, the unavailability of a mobile app may hamper its appeal to serious crypto traders. As such, they may opt for more feature-enriched alternatives with in-house copy-trade and a wide selection of bots.
|Features||4.6 / 5|
|Supported Fiat Currencies and Deposit Methods||2.5 / 5|
|Supported Cryptocurrencies and Trading Pairs||5 / 5|
|Fees||4 / 5|
|Ease of Use||4.8 / 5|
|Customer Support||4.6 / 5|
|Security Measures||4.8 / 5|
|Mobile App||2.5 / 5|