A trading platform that has got itself covered in all the types of currencies, PrimeXBT deals within cryptocurrencies, most major stock indices, commodities, and even foreign exchange. The website is a one-stop hub for all the experienced traders and trading platforms, especially those who deal in the crypto exchange.
In addition to all of this, the website also offers the best margin in the whole crypto market. It gives you up to 100 times your initial investment amount. The site also provides with a novel covesting feature. This feature can copy successful traders and detect what had made their business grow. One can mimic the trading steps of an already well-based investor from this.
PrimeXBT is Best for? Detailed PrimeXBT Review
For the users who already have plenty of experience in the crypto industry and are continually looking for profitable exchanges should go for PrimeXBT, as it is especially meant for them.
The trading platform has got a number of advanced features as well as opportunities for professional traders. If you are looking for a track record of other traders, this efficient trading engine will guide you through all the studies it has done on crypto and major stock indices traders.
Top Features one can enjoy by PrimeXBT
PrimeXBT provides a secure platform for a payout system. Here one can have rewards for not just direct referrals they have brought but even for their own indirect referrals. The set up that PrimeXBT provides can help you with multiple options of passive income.
Here, you receive extra income from the trading fees by referral networking built by you. One tip to earn rewards and have extra income is to have your own custom referral link, which will invite people. You can further also ask your referrals to invite more of their people through your link.
Leveraged Trading with PrimeXBT
PrimeXBT is known to have offers of leveraged trading up to 100 times the amount a client contributes. The 100x leverage is also sometimes termed as margin trading, which involves the method of borrowed funds as the trading fee from the exchange.
This type of method allows more profit while being in the trading strategies. Besides this, the PrimeXBT also has got a top-notch technical analysis tool Tradinview. This tool helps the trading service indicate the strength index, and moving averages of any of the popular trading indexes. PrimeXBT, which is also a crypto trading platform, will give you an in-depth market analysis as well as provide all the educational resources needed to grow within the sector.
The study material that this trading service provides can help you on the trading day, as it guides you to identify up and down price trends for the assets. Here, with the help of this study material, you can perform great within the stock indices.
A Brief about Leveraged Trading
Leverage trading is very risky and to be well advised, only the experienced traders should try it. One advantage of PrimeXBT is, you can even simply practice such trading through its demo plan and by using fake funds.
What Trading Features can be improved on PrimeXBT
Along with the service of PrimeXBT already not available in around 14 countries, these are a few more features that somehow lack on PrimeXBT, and can be easily improved for better future experiences.
Limited Trading Pairs
When we talk about the Trading Pairs on PrimeXBT, it has got a very less amount of them. In addition to the seven trading pairs, the exchange does not even accepts the reserve currency deposits from any bank account or even the credit cards. PrimeXBT offers only crypto transfers from other exchanges or digital wallets through Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), and Covesting (COV).
Another thing that might irritate the traders is that PrimeXBT although only accepts crypto transfers, it barely offers any crypto trading choices. Looking at the other digital exchange or cryptocurrency exchange sites, they offer over a dozen of options. The crypto traders can choose from different crypto assets and can enjoy the trading.
Talking about the crypto trading options, it is still not clear why PrimeXBT has so less options in Crypto trades to offer.
What Trading Pairs does PrimeXBT offers?
PrimeXBT gives access to the investors to have fiat currency trade which includes Aussie (AUD), the Euro (EUR), Loonie (CAD), Swissie (CHF), Japanese Yen (JPY), Pound ( GBP) and Greenback (USD). With this, the trading experience can also be enjoyed using exotic currencies like Mexican Peso (MXN) or even the Thai Baht (THB).
It is also said that the commodities on offer also trade via CFDs which include Brent, Gold, Silver, Natural Gas, and sometimes even crude oil.
PrimeXBT also is best at giving its investors an access to the global equity market. It even has an image to give the exposure to the largest and most popular markets via CFDs.
The website has got multiple digital assets for its traders who are looking to learn from it. They offer CFDs training and explain it in the simplest form.
PrimeXBT Crypto Wallets
With the help of a crypto wallet, which is available on the dashboard the users can deposit, withdraw, exchange, or even buy cryptocurrency. One can also view their crypto deposits through their individual wallets. Speaking of individual wallets, the user may also find used and available individual wallet balances.
Through this, it is adequate to transfer idle cryptos to an external private hot wallet.
Regarding the deposit and withdrawal, PrimeXBT supports Bitcoin (BTC), Covesting (COV), Ethereum (ETH), USDCoin (USDC), and USD Tether (USDT) as the medium of crypto dealings.
Wallet Activity
The users can have a look at the individual wallet balance’s transfer history and some in-depth details such as date/time, From, To, amount, ID, description, and even the status.
Balance
To have a look at the total individual wallet balance, users can access the details on the dashboard. They can even view margin account balance through it.
Other details that include while looking at the wallet are Total funds in US dollars, Individual wallet balances in crypto and dollars as well as individual margin trading account balances in cryptos and dollars.
Additionally, users can also view the total amount of equity in dollars for the Yield account, Copy-trading portfolio, and Copy trading.
PrimeXBT Key Attributes
- PrimeXBT has got fast and easy registration process.
- Low Fees
- Provides access to the global financial market also for seasoned investors.
- Supports both long and short trading along with leverage.
- Trading tools includes chart as well as copy trading.
- Opportunity to trade all the major asset classes, whic includes Crypto and Fiat currencies both.
- Crypto deposits and crypto purchases can be dine with credit/debit cards and even SEPA transfers.
What Trading Features does PrimeXBT support?
PrimeXBT allows its users to have crypto-crypto tradings. At the same time, it even allows its users to trade within the crypto-fiat pairings. It is said that the investors can trade in both long and short margins.
It allows the investors to trade the world indices and most popular commodities by way of Certificate of Deposits (CFDs).
Besides all that, Forex investors may trade through PrimeXBT platform. Here, on this platform, traders have access to all of the majorly used Forex pairings as well as the crosses.
One can also opt for Copy Trading on PrimeXBT. Through the copy trading page, the users can have the covering community and at the same time follow and learn the trading strategies. With PrimeXBT along with being a strategy learner, one can also become a strategy manager.
By staking idle crypto to earn an additional income, one can enhance his or her earnings. Here, PrimeXBT supports USDC, USDT, and even ETH staking. For more benefits, stakers can yield a boost by the process of staking COV.
How Strong is the Privacy and Security on PrimeXBT?
PrimeXBT takes exceptional care of its customers, so to have everything on a safer side, they have got 2FA system that ensures the account security. Then PrimeXBT also has got Cloudflare which is used for the mitigation process of potential distributed denial of service (DDoS) attacks.
The site is also well known to have a process of manual verification, where it manually executes all incoming as well as the outgoing transfers. The site checks for risk scoring, money laundering, suspicious trading activity, and other similar activities.
Talking about the wallet security, the site holds most customers’ digital assets in an offline cold wallet storage system. Also, withdrawal address whitelisting is a process that restricts the process of withdrawal of money to certain whitelisted addresses.
Customer Support of PrimeXBT
- The website has got 24/7 support which can be reached to via live chat. The response time of their customer support is less than 2 minutes.
- If not this, the users can reach out to the website through email or even through a comprehensive help centre. They have also got a huge section of FAQ, which might be of help in answering certain and simple questions.
- Besides all of this, they have even got a few social media pages on Facebook, LinkedIn, Twitter, and Youtube which could be of help.
- Email: You can reach out to the PrimeXBT customer support email via [email protected]
How to Register and Begin Trading on PrimeXBT
This process will explain you how can you take the first steps on this trading software called PrimeXBT.
Register an Account
- This process is easy and quick, you just have to:
- Go to the registration page
- Have the credentials filled (Email and Password), agree on terms and conditions and click on “register” button
- You will get a 4 digit PIN code via email, which you will need to enter to complete the registration.
Next big step in having yourself started with the trading is ‘Deposit’
Deposit
On the main page of your PrimeXBT account, you will get 2 options for deposition. Direct Crypto deposits and Buying Crypto.
Direct Crypto Deposit
You can direct deposit the crypto currency from you personal crypto wallet to your PrimeXBT wallet. At present the website supports: BTC, ETH, USDT, USDC as well as COV.
Here you can do the following
Buying Crypto
This option allow you to buy the currency using a bank card. To have the cryptocurrencies purchased you have to:
- Click on ‘Buy Crypto’ or ‘Bank Card’
One you are done with the deposit on the blockchain, it will be shown in your transfer history.
Pricing on PrimeXBT
Now coming to the most crucial topic of the article, the pricing. PrimeXBT has a fee structure which we will explain below.
The site has got two plans Margin and Copy Trading. And talking about the pricing plans, PrimeXBT basically charges a fee as its commission.
Margin Fees Structure
- Minimum deposit: No minimum deposit is needed.
- CCY Balance: BTC, ETH, USDT, USDC, COV
- Assets: Crypto 41, FX 50, CFD 14
- Spreads: From 0
- Commission: From 0.0001%
- Execution: Market
- Execution speed: up to 20 ms
- Order types: Limit, Stop, OCO, Market
- Promo: Promocodes, Account status
Copy Trading
- Minimum deposit: 0.01 BTC
- CCY Balance: BTC, ETH, USDT, USDC, COV
- Assets: Crypto 41, FX 50, CFD 14
- Spreads: From 0
- Commission: From 0.0001%
- Execution: Market
- Execution speed: up to 20 ms
- Order types: Limit, Stop, OCO, Market
- Promo: No Promo
- The only main difference between the Margin and Copy Trading fees structure has is that the Copy Trading has got a deposit of BTC which is 0.01 BTC.
- You will also be charged a withdrawal fee, which is mentioned below:
- 0.0005 BTC (flat fee)
- 0.002 ETH (flat fee)
Pros and Cons of PrimeXBT Review
Top FAQs on PrimeXBT Review 2024
What markets can one trade-in?
PrimeXBT allows you to trade in Cryptocurrency, Forex, Indices, and Commodities.
How to make more money on PrimeXBT?
It is said that to earn profit while trading, you need patience. So the better hold you have on yourself, the better your trading decisions are, and you will make more profits. The success also comes from the trading strategies.
Can the Website trade for me?
It is recommended for the people who do not have time for trading, that they opt for PrimeXBTs Covesting Module. This tool replicates the designs and strategies of traders who are in profit and trade for you.
Does PrimeXBT has apps for iOS, Android, PC?
Yes, the web version of the platform is available on all browsers. While the apps are also available on iOS and on Android PlayStore.
Conclusion of PrimeXBT Review
With all the advancements PrimeXBT has got, it is still the best and most simple to use trading platform which provides spot trading with cryptos, fiat currency, traditional asset classes, also indices as well as commodities.
It also has got features that includes staking, copy trading, and contests, along with a referral program and a few more facets.
The website also has margin trading where users have both long trade as well as short trade. This is where traders can earn from both the sides, from the rising market and even from the falling market. PrimeXBT has also got an attractive fee structure which puts the website on a whole new level than its competitors.
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