Posted by: BitcoinMargin Updated Nov 21st, 2023

If you’re in search of a swift and dependable crypto derivatives trading platform that also offers forex, indices, and commodities trading, PrimeXBT stands out as one of the leaders in this regard.

In this detailed review, we will delve into the key aspects and features of the PrimeXBT platform to assist you in determining if it aligns with your trading needs. We’ll discuss everything from its range of supported markets and fee structure to its array of financial products and overall user interface. We aim to highlight both the advantages and potential limitations of using PrimeXBT. Let’s get started.

What is PrimeXBT?

PrimeXBT is a cutting-edge trading platform that has quickly carved a niche for itself in the global trading arena since its inception in 2018. Registered under Prime Technology Ltd. in Seychelles and operating as PrimeXBT Trading Services LLC in St. Vincent and the Grenadines, this platform has expanded its reach to over 150 countries in a relatively short period.

With an impressive average daily trading volume exceeding $1 billion, PrimeXBT offers its users access to more than 110 trading assets. This diversity of assets, combined with the backing of 12+ liquidity providers, ensures that traders experience smooth pricing and low latency, regardless of market conditions. Such a robust infrastructure is a testament to the platform’s commitment to providing a seamless trading experience. At the heart of PrimeXBT’s success is its unwavering focus on technology. Designed to cater to both beginners and seasoned professionals, the platform boasts a trading system that emphasizes reliability and high performance. It’s engineered to handle a high volume of orders per second, ensuring ultra-fast order execution with an average speed of less than 7.12 ms.

This is further complemented by an industry-leading trade engine that offers real-time risk management. The platform’s technological prowess is powered by giants like Amazon AWS, with trades executed at servers located in global hubs like London and Frankfurt.

But what truly sets PrimeXBT apart is its user-centric approach. The platform offers a customizable interface, allowing traders of all experience levels to tailor layouts and widgets to their unique trading style. This commitment to user experience is evident in the company’s vision and values.

PrimeXBT aims to be a dynamic and innovative platform, constantly refining its services to meet the evolving needs of traders worldwide. The company’s ethos revolves around placing its clients’ interests at the forefront of all operations, striving to uphold its reputation as a reliable and trusted trading partner.In conclusion, PrimeXBT is more than just a trading platform. It’s a testament to what can be achieved when technology, vision, and client-centricity converge. Whether you’re a novice looking to dip your toes in the trading world or a professional seeking a reliable platform, PrimeXBT promises a comprehensive trading experience.

PrimeXBT Pros & Cons

PrimeXBT remains committed to creating a client-centric trading platform for its users who may be novices or seasoned traders. But as with any platform, it presents a mix of strengths and areas of improvement. Here are the pros and cons of PrimeXBT.

Pros

  • Trade crypto, forex, commodities, and index contracts for differences (CFDs)
  • Secure cold storage for crypto assets
  • SSL-encrypted website
  • Dual factor authentication (2FA) measures used
  • Copy trading feature available
  • Over 110 financial instruments supported
  • 12+ liquidity providers
  • Up to 200x leverage for crypto margin trading
  • Fast trade execution with 7.12 ms average transaction time
  • 24/7 customer service

Cons

  • Restricted for residents in the USA, Canada, and 12 other jurisdictions
  • Only USD, EUR, and GBP fiat currencies supported
  • Know Your Customer (KYC) required for fiat deposits

PrimeXBT stands out for its wide array of trading options, allowing users to trade not just cryptocurrencies but also forex, commodities, and index CFDs. Diversification of investments is one of the most popular techniques to hedge risk and spread one’s assets across multiple markets.

This versatility is bolstered by a stringent security infrastructure. PrimeXBT employs secure cold storage for crypto assets, safeguarding users’ digital assets against potential online threats. Impressively, PrimeXBT boasts a track record of zero thefts or instances of client funds being compromised.

Additionally, the website benefits from SSL encryption, adding an extra layer of security to data transmissions. For individual account safety, PrimeXBT has implemented two-factor authentication (2FA), further protecting user accounts against unauthorized access.

One of the platform’s unique features is the copy trading option, enabling users to mimic the trading strategies of successful traders. With support for over 110 financial instruments and backed by over 12 liquidity providers, the platform promises a fluid trading experience.

Efficiency is also a hallmark of PrimeXBT, boasting swit and robust trading execution speeds at a 7.12 ms average transaction time. Rounding off its strengths is the platform’s commitment to customer support, offering 24/7 assistance to its users via live chat. However, PrimeXBT does come with its limitations. For one, the platform is not accessible to residents in the USA, Canada, and twelve other jurisdictions, which could be a significant drawback for traders in these regions. Additionally, when it comes to support for fiat currencies, the platform is somewhat limited, catering only to USD, EUR, and GBP. Lastly, there is a KYC requirement for fiat deposits which might be seen as a hurdle for those who value anonymity.

Supported Financial Markets

Starting primarily as a cryptocurrency trading platform, PrimXBT has now branched out to support a diverse range of financial markets. Catering now to both traditional investors and crypto enthusiasts, let’s go through each of these offerings in this section.

Cryptocurrencies

With a selection of 41 crypto pairs, PrimeXBT ensures that crypto traders have ample choices and can access them in minutes. The platform’s solid trading infrastructure and software make it a solid option for trading long and short crypto positions.

Popular crypto pairs offered include:

  • Bitcoin (BTC)/USD
  • Ethereum (ETH)/USD
  • Dogecoin (DOGE)/USD
  • Litecoin (LTC)/USD
  • Ripple (XRP)/USD
  • Cardano (ADA)/USD

Aside from these popular crypto options, PrimeXBT also provides more niche tokens for its users to trade. Some of these, such as Tron (TRX), Algorand (ALGO), Avalanche (AVAX), and Binance Coin (BNB). Cryptocurrency trading on PrimeXBT runs 24/7.

With PrimeXBT, traders can capitalize on some of the market’s most favorable conditions. The platform boasts tight spreads and competitively low fees on all cryptocurrency transactions, ensuring maximum profitability.

Forex Currencies

There are over 50 forex pairs available on the PrimeXBT platform for foreign exchange traders to dive into. The platform allows traders to engage with some of the world’s most potent and iconic currencies, hailing from powerhouse nations like the US, UK, Australia, and Canada.

Whether you’re looking to buy, sell, or trade stalwarts like the Dollar, the Pound, the Yen, or the Euro, PrimeXBT has got you covered. Popular forex pairs offered include:

  • EUR/USD
  • USD/JPY
  • GBP/USD
  • USD/CHF
  • AUD/USD

Traders also have the opportunity to explore minor forex pairs and even exotic forex pairs which can be found on PrimeXBT. Some of them, such as the AUD/CAD and AUD/CHF offer insights into the economic interplay between Australia and Canada or Switzerland.

Exotic pairs involve a major currency (like the USD, EUR, GBP) and the currency of a smaller or emerging economy. Exotic pairs like EUR/HKD and EUR/MXN tend to be less liquid and have wider spreads than major and minor pairs.

Trading hours for forex currencies on PrimeXBT are from Monday to Friday, starting at 9:05 p.m. from the previous day until 9:00 p.m.

Stock Indices

Stock indices, often referred to as just indices, are a composite measure that represents the performance of a specific market sector which is just a group of stocks within an industry or geographic location. PrimeXBT traders can engage with leading indices through the platform’s smooth and reliable trading infrastructure.

Popular indices supported are:

  • S&P 500 (SP500)
  • NASDAQ Composite (NASDAQ)
  • Dow Jones Industrial Average (DOWJ)
  • FTSE 100 (UK100)
  • Euro Stoxx 50 (EUR50)
  • ASX 200 (AUS200)
  • DAX 30 (GER30)

The platform’s versatility also allows traders to open both long and short positions, enabling them to capitalize on market movements whether the assets are rising or falling.

Indices trading hours on the platform are from 10:00 p.m. from the previous day until 9:00 p.m., Monday to Friday. The only exception to these trading hours is the Spain Stock Market Index which runs from 6:00 a.m. to 6:00 p.m. on the same days of the week.

Commodities

Commodities have long been a cornerstone of trade, representing tangible goods that can be bought, sold, and traded on global markets. These range from energy sources like oil and natural gas to precious metals such as gold and silver.

On PrimeXBT, traders can access these commodity markets quickly and more efficiently. Because the platform offers commodity CFDs, PrimeXBT traders can speculate on the price movements of the instruments without actually owning them.

Commodities offered on PrimeXBT include:

  • Brent Crude Oil (BRENT)
  • West Texas Intermediate Crude Oil (CRUDE)
  • Natural Gas (NAT.GAS)
  • Gold (GOLD)
  • Silver (SILVER)
  • Aluminum (ALUMINUM)
  • Copper (COPPER)
  • Lead (LEAD)
  • Nickel (NICKEL)
  • Zinc (ZINC)

PrimeXBT Margin Trading

Margin trading stands as the flagship offering of PrimeXBT, providing a holistic and enriched trading experience for its users. This approach increases the earning potential of traders by amplifying their trading positions using borrowed funds. However, this also amplifies the risks involved due to the associated financing costs of the trading method.

With a relatively small initial deposit, PrimeXTB users can access significantly larger exposure to various markets, from cryptocurrencies to traditional forex pairs and commodities. For example, a trader who wants to buy $100 worth of Bitcoin with just $10 on hand can do so through margin trading. The user can borrow the remaining $90 from your broker, thus controlling a larger position with a smaller capital outlay.

Engaging in margin trading on PrimeXBT is a seamless experience. Traders simply select “buy” or “sell,” and the platform automatically allocates the required margin from the available funds. If a position’s value decreases, PrimeXBT smartly reallocates funds from the trader’s available capital to cover the margin, ensuring positions remain open.

PrimeXBT prioritizes the safety of its traders by offering negative account protection. Here, the platform recognizes positions that prevent the trader from having to owe anything more than their initial deposit. With this protection in place, traders can have peace of mind knowing they’ll never need to have a negative balance. However, it’s always prudent for traders to exercise caution and strive to avoid reaching a margin call situation.

Margin Rates

Initial margins at PrimeXBT vary by market. For cryptocurrency trading, the platform offers 200 times leverage. In the Forex sector, traders can utilize up to 1,000 times leverage. Commodities come with up to 500 times leverage, while indices offer 100 times leverage. This range ensures tailored strategies for traders across different markets.

The table below shows the margin rates of popular financial assets as well as other margin trading details on PrimeXBT:

AssetMinimum Order SizeFunding Rate (Per 24 hours)Max Leverage
BTC/USD0.001 BTC0.0167%1:200
ETH/USD0.01 ETH0.0167%1:200
XRP/USD0.01 XRP0.0167%1:20
EUR/USD100 EUR0.0694%1:1000
USD/JPY100 USD0.0694%1:1000
GBP/USD100 GBP0.0685%1:1000
GOLD0.01 troy.oz0.0694%1:500
SILVER1 troy.oz0.0694%1:500
CRUDE OIL1 Barrel0.0694%1:100
SP5000.01 Contract0.0694%1:100
NASDAQ0.01 Contract0.0694%1:100
UK1000.01 Contract0.0685%1:100

It’s also important to note that each asset follows a tiered leverage system where the amount of leverage a trader can access is determined by the size of their trade or position. As the trade amount increases, the available leverage decreases to limit exposure. We’ll get into more detail about each tiered leverage system in this section.

Bitcoin and Cryptocurrency Leverage

PrimeXBT is one of the leading platforms in crypto margin trading, helping traders maximize the potential of leveraged crypto trades. With the proper strategy, even minor price fluctuations can lead to significant profits. The platform’s robust infrastructure equips traders with all the necessary tools to thrive in the volatile crypto landscape, whether they’re leveraging Bitcoin or capitalizing on Ethereum’s price dips.

A key advantage of using PrimeXBT for crypto margin trading is the ability to profit from both rising and falling prices. By shorting a coin or token, traders can earn from declining prices, capturing the difference between opening and closing trade values. The platform’s leverage ensures that, with minimal initial investment, traders can achieve profits that far surpass those of standard trades, granting them extensive market exposure.

For the BTC/USD leveraged crypto pair the tiered leverage system follows:

Trade ValueMaximum Leverage
0 – 50 BTC1:200
50 – 100 BTC1:100
100 – 500 BTC1:50
Greater than 500 BTC1:20

Forex Leverage

The winner of the Best Crypto and Forex Broker title in the 2020 Forex Awards, PrimeXBT continues to offer a high-quality forex leveraged trading experience. More than the speed and convenience it gives its users when trading forex pairs, the platform offers a vast array of major and exotic currency pairs, from the dominant USD, GBP, and EUR to the less common TRY and RUB.

Utilizing highly advanced charting software, PrimeXBT gives traders the edge they need when performing the crucial technical analysis that is required in forex margin trades. The tools provided are also highly versatile, meaning they can be used for multiple trading strategies such as scalping, swing trading, day trading, position trading, and many more.

PrimeXBT’s competitive commission rates also ensure that traders retain a significant portion of their profits, further enhancing the allure of forex leverage trading on the platform.

For the EUR/USD leveraged forex pair the tiered leverage system follows:

Trade ValueMaximum Leverage
0 – 1,000,000 EUR1:1000
1,000,000 – 2,000,000 EUR1:500
2,000,000 – 5,000,000 EUR1:100
Greater than 5,000,000 EUR1:50

Stock Indices Leverage

PrimeXBT gives traders access to the world’s most popular indices with a maximum leverage that is higher than many of its competitors. All of the platform’s index offerings can be traded long or short with a max-margin of 1:100. Users can enjoy competitive fees and tight spreads for every index available.

For the SP500 index the tiered leverage system follows:

Trade ValueMaximum Leverage
0 – 115 US SPX 5001:100
115 – 460 US SPX 5001:50
460 – 1,380 US SPX 5001:20
Greater than 1,380 US SPX 5001:10

Commodities Leverage

PrimeXBT offers traders an enhanced experience in the commodities market, allowing them to tap into significant leverage for assets like Brent Crude Oil, Gold, Silver, and more. The platform’s advanced trading infrastructure ensures real-time data access, advanced charting tools, and a straightforward trading experience.

For the SP500 index, the tiered leverage system follows:

Trade ValueMaximum Leverage
0 – 300 Gold USD1:500
300 – 1,000 Gold USD1:100
1,000 – 5,000 Gold USD1:50
Greater than 5,000 Gold USD1:20

PrimeXBT Crypto Futures

The crypto futures product is PrimeXBT’s latest innovation in its trading platform which not only elevates the overall trading experience but adds to the already solid crypto product lineup that’s available. Separate from the traditional margin trading category of PrimeXBT, crypto futures are traded via Perpetual Swaps.

Below are the eight distinct crypto futures contracts that traders can engage in long and short positions 24/7:

  • BTC/USDT
  • ETH/USDT
  • LTC/USDT
  • XRP/USDT
  • BNB/USDT
  • MATIC/USDT
  • ATOM/USDT
  • TRX/USDT

To add, the introduction of adjustable leverage ranging from 2x to 200x on leading cryptocurrencies gives traders more options when formulating strategies based on their risk tolerance and profit goals. This, combined with the option to toggle between cross or isolated margins, offers more control over users’ trading activities.

While the crypto futures feature is a significant addition to the platform, PrimeXBT continues to uphold its reputation for safety, security, and ease of use. Crypto futures can be accessed both on the desktop and mobile versions of the platform, ensuring users are always at the forefront of crypto trading advancements.

PrimeXBT Fees

PrimeXBT offers a transparent and competitive fee schedule, ensuring users can make informed decisions. Below is a comprehensive table detailing important associated fees on the platform:

FeeAmount
Cryptocurrency Margin Trading0.05% fee
Forex, Indices, and Commodities Margin Trading0% fee
Crypto Futures Trading (Maker)0.02% fee
Crypto Futures Trading (Taker)0.01% fee
Direct Crypto DepositsDepends on crypto gas fee and network
Direct Fiat Deposit (AdvCash Wallet)0.00% fee
Buy Crypto via VISA / MasterCard3.5% to 3.7% fee
SEPA Transfer2% fee
Direct Fiat Withdrawal (AdvCash Wallet)0.00% fee
BTC Withdrawal0.0005 BTC
Inactivity FeeNone

User Experience

PrimeXBT emphasizes delivering a top-notch user experience which is shown mainly through its quick registration process, streamlined user interface, and easy-to-navigate dashboard.

The platform advertises a 40-second time to create an account as users simply need to fill in an email address and password or register with a Google account. Once completed, the user will automatically be logged in to their account and can already make a crypto deposit.

Furthermore, account personalization is at the heart of PrimeXBT’s approach. The platform allows users to tailor their trading interface to their preferences, adjusting layouts and widgets to best suit their individual trading styles. Whether you’re a seasoned trader or just starting out, the platform’s design ensures that managing trades, accessing tools, and editing the layout is easy and straightforward.

Another standout feature is one-click trading, giving PrimeXBT traders rapid trade execution. This minimizes the delay between making a decision and acting on it which is extremely crucial in the fast-paced environment of trading. Day traders and scalpers will find this feature especially helpful for their strategies.

Lastly, PrimeXBT recognizes that all its features and tools could overwhelm new traders who are still learning the ropes. For them, the platform provides several videos, tutorials, and even an interactive guide that will show how each of the important sections of the interface works.

PrimeXBT Charts, Tools, and Analysis

A trading platform’s arsenal of features, from its price charts to its analytical tools, forms the foundation for informed decision-making for traders and investors. PrimeXBT recognizes the importance of these tools and provides a comprehensive array of charting functionalities and trading instruments. Let’s delve deeper into what traders can expect when using the platform for their trades.

Price Charts

PrimeXBT’s price charts are designed to suit traders of all experience levels. With a variety of chart types including candlesticks, lines, and bar charts, users have several options for visualizing the market data available. Additionally, multiple timeframes from minutes to days allow for both long-term and short-term analysis.

The platform’s interactive features also enable traders to zoom, pan, and track the specific price points on the chart, ensuring that they never miss a crucial market movement. They can even set up multiple charts on one screen so that monitoring different markets is possible.

Trading Tools

For regular margin trades, PrimeXBT offers trading tools that are both versatile and user-friendly and are designed to enhance the trading experience. The base trading tools offered include trend lines, price lines, trend channels, pitchforks, and Fibonacci retracements. Default charts also show the Moving Average Convergence/Divergence (MACD), Relative Strength Index (RSI), and trading volume.

More advanced financial instruments require high-level tools, and so PrimeXBT has strategically partnered with charting site TradingView to provide its users with the most advanced charting solutions when trading Crypto Futures. This integration ensures traders have access to a straightforward and highly intuitive charting experience that’s synonymous with TradingView’s reputation.

Some of the most common and widely-used indicators that traders will have access to with the integration include Moving Averages, Bollinger Bands, Average True Range, Ichimoku Clouds, and Volume Weighted Average Price.

Market Analysis

Having up-to-date market trends and news is crucial for successful trading. PrimeXBT’s market analysis section provides traders with timely insights and perspectives on prevailing market movements. This section provides updated articles, market sentiments, and commentaries so that traders have access to fresh and relevant information.

By integrating news feeds, trading tools, and analysis, PrimeXBT brings both fundamental and technical insights for traders to best understand current market dynamics for their strategies.

PrimeXBT Copy Trading

Copy trading has emerged as a revolutionary way for traders to capitalize on market opportunities without the need for in-depth analysis or hands-on involvement. PrimeXBT has expertly integrated this concept, allowing both novices and busy traders to benefit from the expertise of seasoned professionals.

By simply choosing to copy a proficient trader on PrimeXBT’s platform, users can automatically replicate their trades, ensuring they’re always in sync with market leaders. The platform’s robust filtering options, showcasing metrics like total profit, Assets Under Management (AUM), and follower count, make it easier for users to identify and follow top-performing traders.

Furthermore, PrimeXBT offers a diverse range of markets for copy trading, encompassing Forex, cryptocurrencies, stock indices, and commodities. With the added convenience of a mobile app, PrimeXBT ensures that users can monitor their trades on the move, making copy trading a seamless and efficient experience.

Covesting

In 2019, PrimeXBT collaborated with pioneering fintech and software development company, Covesting.io. In this strategic move, PrimeXBT integrated the much-anticipated copy-trading feature into its platform, allowing users to leverage the advantages of Covesting’s expertise directly.

With this, the COV utility token was made available on PrimeXBT which serves as more than just a digital asset. It provides rewards, discounts, and other benefits when users stake a certain amount. Aside from this, traders who stake COV tokens can activate one of three distinct membership plans: Advanced, Premium, or Elite. These have their own set of exclusive benefits in the ecosystem.

Strategy Creation

Creating a strategy with Covesting is straightforward, with a dedicated Quick Start tutorial available for guidance. To initiate a strategy, a minimum investment is required, which varies based on the currency:

  • 1,000 COV
  • 0.01 BTC
  • 0.14 ET
  • 200 USDT
  • 200 USDC

Once established, core statistics of your strategy, including profits, equity, performance, and followers, become public. The trading history, showcasing the last 50 closed positions, is also transparently displayed.

Trading within a strategy is exclusively conducted on the Covesting module ‘Trade’ page. Notably, traders can manage multiple strategies simultaneously, each denominated in different currencies, and can also maintain private trades on their personal accounts.

PrimeXBT Other Products

Beyond PrimeXBT’s trading platform is a comprehensive ecosystem that enhances the overall experience, supplements user investing, and incentivizes active participation. In this section of the PrimeXBT review, we go through some of the other crypto and trading-related product offerings.

Trading Contests

PrimeXBT’s Trading Contests provide a unique opportunity for traders to showcase their skills, compete with peers, and win prizes without any financial risk. These contests are facilitated using accounts fully funded by PrimeXBT, ensuring a risk-free competitive environment for all participants.

Anyone can participate in these contests. All that’s required is a free account registration on PrimeXBT. No deposits are necessary, as PrimeXBT provides each participant with a funded contest account. While traders can participate in multiple contests simultaneously, each contest has its own participant limit, ensuring fair competition.

Prizes, awarded as tradable bonuses, can be used for opening positions or covering fees on real margin accounts, but they aren’t withdrawable. Specific qualification criteria, like a set number of trades or turnover, must be met to be eligible for rewards. The platform ensures fairness by excluding high-frequency trading software or robots. In essence, PrimeXBT’s contests offer a dynamic arena for traders to showcase skills, learn, and earn, all without financial risk.

PrimeXBT Academy

Recognizing the importance of continuous learning, PrimeXBT introduced the Academy – a dedicated space for traders to expand their knowledge. The PrimeXBT Academy, presented by expert trader Dirk Hartig, has a plethora of resources, from beginner guides to advanced trading strategies.

There are three main learning sections under the PrimeXBT Academy. First, That Crypto Show!, shows the latest news and in-depth analysis of the market. Second, there are PrimeXBT Platform Guides, easy-watch videos that guide how to utilize all of the platform’s features and functionality. Lastly, there’s the Trading & Crypto Courses which offers a detailed blockchain and trading introduction for novices, but also delivers advanced insights to elevate experienced traders.

PrimeXBT Mobile App

PrimeXBT extends its trading products, user-friendly interface, and powerful investing features in its mobile app, providing greater accessibility for users. The award-winning platform has been optimized for mobile, ensuring that you can engage with global crypto markets wherever you are.

Whether you’re looking to buy, sell, or manage, the process is straightforward, just like on the desktop site. Available for both Android and iOS devices, the app ensures that users remain updated with global markets, transfers, positions, and copy trading holdings. Notifications can be enabled on the app to inform users in these regards.

Additionally, multi-currency wallets, integrated exchange services, and advanced trading tools are easily accessible on the PrimeXBT mobile app. The charting software remains robust, allowing for deeper market analysis on the go.

Customer Service and Support

As a leading cryptocurrency platform, PrimeXBT provides ample customer service and support for a market that never stops. 24/7 live chat support is available in 12 different languages. This round-the-clock assistance ensures that users have a lifeline regardless of their timezone when trading.

For less urgent customer needs, PrimeXBT has a help center page that’s complete with a self-service section and frequently asked questions. Traders can head to this page for specific account matters or if they want to learn more about the platform.

PrimeXBT Deposit and Withdrawal Methods

PrimeXBT prioritizes user convenience and security in its deposit and withdrawal methods, addressing the varied preferences of its users. The platform primarily supports cryptocurrency transactions, with BTC being the primary currency for account funding. Additionally, a few fiat currencies can also be stored on the platform.

The fiat currencies and cryptocurrencies that can be deposited and withdrawn on PrimeXBT are the following:

  • Bitcoin
  • Ethereum
  • Tether USD
  • USDC
  • Covesting
  • US Dollar
  • Euro
  • Great Britain Pound

Users looking to deposit or withdraw fiat currencies will need to complete a KYC verification which can be completed in minutes. But there are advantages to having a verified account, like increased withdrawal limits and 0% deposit and withdrawal fees through AdvCash.

How to Use the PrimeXBT Crypto Trading Platform

When done correctly, traders can create an account, deposit crypto, and make their first trade on PrimeXBT in just minutes. Here’s a step-by-step guide on how to use the PrimeXBT platform.

Step 1: Create an Account

First, create an account with PrimeXBT by either visiting the platform’s website or downloading the Android or iOS app on your mobile device. You’ll need to enter an email and password or you can use your Google Account to sign up. Depending on the method, you will also need to verify the email that you used. Afterward, you should be able to log in to your account.

Step 2: Deposit Crypto

To fund your PrimeXBT account, first ensure you have BTC, ETH, USDT, USDC, or COV in your crypto wallet. Then, on the PrimeXBT dashboard, select the cryptocurrency you intend to transfer. Click ‘Deposit’ to obtain the corresponding wallet address for the transfer.

If you do not have these cryptocurrencies, you may also directly buy crypto from PrimeXBT through their service provider, Coinify. Simply click on “Buy Crypto” on the navigation bar, choose the crypto you want to purchase, and select the currency you wish to use. Coinfiy supports Visa, MasterCard, and SEPA transfers.

Step 3: Make a Trade

Now that your account is funded, look for “Trade” and choose between trading Global Markets or Crypto Futures. This will open the trading interface, which shows your balance, the trading chart, and other instruments. Select the asset that you wish to trade and open a position by choosing either ‘Buy’ to go long or ‘Sell’ to go short.

Step 4: Withdraw Earnings

If your trading strategy is successful and you’ve earned from a close position, you can withdraw your earnings whenever you want. To do this, simply select the cryptocurrency or fiat that you intend to withdraw from the dashboard. Click ‘Withdraw’ and input your wallet address (for crypto transfers) or AdvCash details (fiat transfers).

Conclusion

PrimeXBT stands out as a versatile trading platform, catering to those traders interested in crypto, Forex, commodities, and index CFDs. Prioritizing security, the award-winning platform offers secure cold storage for digital assets, SSL encryption, and 2FA.

Special features such as copy trading enrich the user experience, and the platform supports over 110 financial instruments, backed by more than twelve liquidity providers. While there are certain drawbacks, such as regional restrictions and limited fiat currency support, PrimeXBT firmly establishes itself as a top-tier choice for traders seeking a comprehensive and refined trading environment.

FAQs

  1. What is PrimeXBT?

PrimeXBT is an all-in-one trading platform that allows users to trade a variety of financial instruments including cryptocurrencies, forex, commodities, and stock indices—all with leverage. The platform was founded in 2018 and supports trading of more than 110 assets.

  1. Is PrimeXBT legit?

Yes, the PrimeXBT website and products are provided by PrimeXBT Trading Services LLC which is officially incorporated in St. Vincent and the Grenadines. It is an operating subsidiary within the PrimeXBT group of companies and does not require any financial licenses to sell its products and services.

  1. How does PrimeXBT work?

PrimeXBT, like many crypto-focused platforms, uses a mix of liquidity sources, including internal order matching (similar to market making) and external liquidity providers.

  1. What is the minimum withdrawal for PrimeXBT?

There is no minimum required withdrawal amount for PrimeXBT. However, please note that it should be more than the withdrawal fee for the asset you wish to withdraw.

Posted by: BitcoinMargin Updated Nov 21st, 2023