PrimeXBT is a margin trading platform based on Bitcoin and allowing receiving rewards. It introduces 50 assets, including cryptocurrency Bitcoin, Ethereum, Litecoin, Ripple, as well as commodities (metals, oil, gas), forex, S&P500, DAX, NASDAQ indices – these all placed in one platform. Users can also use Bitcoin as margin collateral to trade all available assets.
Lately, we witness trading bringing a lot of earning opportunities, so here we will talk about the PrimeXBT platform, its features, options so that making your trading easier and profitable.
The benefits of the PrimeXBT platform
Investors eager to expand their portfolio beyond cryptocurrency assets trading would find this platform interesting, as it provides solutions far beyond crypto.
Users don’t have to pass KYC verification on the PrimeXBT platform. The service is focused on user privacy and provides high data protection for the users.
Leverage of 100:1 for cryptocurrency assets, 1000:1 for traditional markets like forex, indices, and commodities.
The platform provides a wide range of options and products that are not available on other platforms. For instance, a copy trading feature via the Covesting module, due to which users may follow experienced traders’ actions, receive profit, and learn simultaneously. Besides, PrimeXBT enables access to other available markets regardless of the currency used in the client’s account.
Another benefit is solid partnerships such as Bitfurys, which deals with AML checks on Bitcoin transactions, Devexperts, a proven trading software developer, and Covesting, a DLT licensed services provider.
Platform overview
The platform introduces the main dashboard with wallets. It allows users to use multiple personal wallets and invest in various currencies such as USDT, ETH, USDC for custody or trading goals. The reports section is meant to show detailed reports on all users’ transactions and trading activity.
Opportunity to follow Covesting strategies, explore portfolio and open own strategy. Whitelisting feature offering additional security so that even if an account gets compromised, the funds are secure anyway because withdrawals can only be made to previously whitelisted addresses.
4-level referral system providing users the opportunity to build an income-generating network and earn not only from direct referrals but also from the referrals they brought up to 4 levels.
Margin section
Trading and markets
The platform opens the Watchlist with all tools available. The Watchlist allows a wide range of trading tools and assets, such as SP500, EUR/USD, and plenty of other currencies. Besides, oil, gold, silver, European indices, and more. Diversification will hedge users’ risks. Besides Bitcoin and altcoins, exposure to indices, metals, or other commodities decreases risk.
There is an opportunity to open multiple trading accounts and use additional currencies, stable coins such as USDC, USDT for trading, and PnL settlements.
PrimeXBT runs on STP and not P2P, which is the main difference from most other trading platforms.
STP means Straight-Through-Processing, which means the platform passes all orders to liquidity providers, thus maintaining liquidity and providing less slippage for users, compared with other platforms.
Orders on a crude oil contract are automatically redirected to liquidity providers, which are large brokerages and banks. As soon as the market triggers the order, it proceeds to the user’s account. That means users have a chance to access international markets with deep liquidity via the PrimeXBT platform.
Regarding crypto trading, orders are matched both internally and with external liquidity providers. The platform got several exchanges connected to it, which maintains liquidity to the site. Users always receive the needed liquidity regardless of the internal matching, so their orders with minimal spread are always executed.
Order Types
Show how to place an order – open the order window in the platform. Click through different orders. Here we will describe how to place an order. There are some ways of doing it – right-click on the chart, or right-click on the tool in Watchlist. Then select the buy or sell option.
The platform offers OCO orders – One Cancels the Other – it is an order that allows placing two orders so that when one executes, the other is dropped automatically. Experienced traders often place such orders when trading on the price breakout from the range, while they are uncertain in the break direction though sure that the price will definitely change.
An Order Window shows “Margin impact” indicating the amount of equity available to trade with. Using more than 50% of the available margin is not recommended, as it bears the risk of losing it all, so it is better to avoid it.
Leverage
PrimeXBT allows users to adjust the leverage size in a rather easier way than other platforms offer, as they usually ask to set the leverage level between 1 -100, while here, you may just change the position size, thus control leverage.
Simply put, if you have 1BTC, you can open a 100BTC position at 100:1 leverage. Thus, you use the maximum possible margin of 100%. Opening such orders, users will likely get a margin call or liquidated if the price moves against their trade.
When a trade for 20 BTC opened, only 20% of the available margin is used, which provides a buffer to open more trades or just leaves room for price changes. To reduce liquidation risk in highly volatile markets, it is better to have more than 50% of the margin available.
Fees
Some exchanges charge 0.075 for takers while giving benefits for makers. PrimeXBT runs on STP and pays for execution at the liquidity providers. That is, they don`t provide any rebates for market makers. 0.05% fee for crypto trading is quite competitive, while for other markets, they are even lower.
Turbo
- The PrimeXBT platform constantly develops and expands its functionality by adding new options and tools almost every quarter.
- The Turbo platform was launched a few months ago. This new tool allows betting on the price performance of several assets within very short time frames.
- Earning up to 90% by predicting the price changes in the next 30 seconds, 1 minute, or 5 minutes. Each asset has its own payout ratio and contract durations.
- There is an opportunity to try a free 1 Bitcoin demo account, a kinda demo version without paying real money while gaining real trading experience.
- The platform offers a list of current most profitable leading traders on PrimeXBT Turbo.
- There is still a high risk of losing investments. If a user’s forecasts come true, one certainly gains, but if the prediction is wrong, the user is losing all the invested funds.
- That is why the demo account comes in handy, allowing users to practice first and get used to the platform, make their own mistakes and learn from them, and only then put small amounts and make profit little by little without facing high risks.
Covesting
Covesting is a proven DLT services provider, which received a DLT license in Gibraltar, one of the first, along with Huobi, Etoro, and CEX. This service helps traders configure and control their trading strategies by following somewhat experienced traders’ actions in the pool, which is visible to the public. Thus, experienced traders can check out each other’s strategies, learning from each other, while beginner traders may follow their strategies and gain skills in trading. One way or another, they all win.
Support and Reliability
PrimeXBT technical support works round the clock, and the support team answers users’ questions instantly.
Sometimes users face outages working with the PrimeXBT platform because some third-party services operate independently from the platform and may occasionally cause delays. So when any potential downtime comes up, PrimeXBT compensates users for the lost time. Besides, we may witness the way PrimeXBT cares about its clients just by checking out its social media accounts. Thus, the platform is able to solve disputes properly, always in clients’ favor.
Conclusion
Unlike many platforms running on P2P, PrimeXBT provides order exclusion through STP liquidity providers. That is why it stands out. Besides, it offers a really wide variety of products and assets far beyond crypto assets, uniting different markets in one single platform. In the end, this service provides its clients wide earning opportunities, with no KYC verification demanded, so once you decide to go beyond the crypto landscape and try other options, assets, and tools, welcome on PrimeXBT.
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