I Want to Talk About PrimeXBT, a well-known cryptocurrency exchange that provides its users with great trading possibilities and high leverage.
It features a variety of different assets to trade: cryptocurrencies, forex, commodities, and indices, which certainly makes it even more beneficial for traders.
The following parts will present its main advantages, review its interface, and explain how it is different from the rest of the exchanges in the market.
Introduction
PrimeXBT is a centralized cryptocurrency exchange (CEX) that offers a user-friendly environment and 24/7 multilingual customer support for traders of all levels.
Established in 2018, PrimeXBT provides access to over 100 assets and contracts across various markets, including Crypto, Forex, Commodities, and Indices.
The platform features a diverse range of derivative trading instruments, including Crypto Futures and CFDs for both traditional assets and Crypto.
Additionally, it offers Copy Trading, enabling users to copy the trades of successful Strategy Providers automatically. PrimeXBT is available on both web and mobile platforms.
PrimeXBT supports multi-asset accounts where clients can buy or deposit, trade, and earn in their choice of Crypto and fiat currency options, including BTC, ETH, USDT, USDC, and USD.
This all-in-one trading interface provides users with the ability to manage a diversified portfolio.
PrimeXBT Exchange Profile
| Company Name | PrimeXBT |
| Categories | Cryptocurrency Exchanges |
| Website | https://primexbt.com |
| Year Founded | 2018 |
| Headquarters | Seychelles |
| Deposit Fee | Free |
| Withdraw Fee | Starting from 0.5$ |
| Mobile Support | Yes |
| Minimum Deposit | From 1$ |
How to Sign Up on PrimeXBT Exchange?
Here’s a Stepwise guide to registering on the PrimeXBT Exchange platform:
Get The Website: Access the platform by going to the website primexbt.com.
Find the Button that says ‘Sign Up’: There is always the ‘Sign Up’ button; the Majority is positioned in the upper right area; click it.
Sign up for the site: Input your email address and set up a strong password.
Notice that I have accepted your TOS: Carefully read and agree to the Terms of Service and Privacy Policy.
The email address must be confirmed: After signing up as a member, you will be sent an email with a link.
Set up two-factor authentication: To further enhance security, enable 2FA upon logging into your account and following the provided instructions.
Complete KYC (If applicable): Certain countries may require the anonymous user to go through the KYC process by providing legal documents.
PrimeXBT Exchange Fees
It is very crucial to consider the trading fees as they can determine the amount of profit that you make in the long term.
For example, if you are an active trader and trade a lot in a rite exchange, then these fees will add up over time.
PrimeXBT is fairly honest about the expenses the users will incur. There are only two.
These are the trade fee and the overnight fee. The former is charged when one goes into the position, while the latter is charged when one wants financial accommodation overnight.
The trade fees are concise and simple.
0.05 % for Cryptocurrencies
0.0001 % for Forex, Indices and Commodities
This has shifted PrimeXBT more towards the fee structure of a CFD broker rather than that of a Futures exchange.
These contracts do not attract a settlement fee, but management fees are levied to keep the position open overnight.
The latter will not apply if one opens and liquidates the position within the same 24-hour period.
Overnight financing is not charged for closed markets during the weekends except for Thursday 00:00 UTC, where a finance charge of 3x is applicable.
0.0001% – 0.05% trading fees are very reasonable, especially in comparison with most of the CFDS brokerages, which are a big plus for the traders using PrimeXBT.
Apart from this, the exchange has also unveiled its tiers for those traders who are active and trade in very high volumes on the platform.
Here are the discounts that you can get depending on how much a trader has traded in the last 30 days.
300–600 BTC: You will receive a 25% discount on the above PrimeXBT rates.
600 + BTC: These traders, when they exceed this volume, will enjoy a discount of 50% on the offer on the current fees.
Which Coins Are Supported on PrimeXBT?
PrimeXBT supports a wide range of cryptocurrencies, including major coins like BTC, ETH, and LTC; leading meme coins such as DOGE and SHIB; and popular coins including TON and SOL. In addition to Crypto, the platform also allows trading in traditional financial markets, including Forex, Commodities, and Indices.
How Many Types of Trading Options Available
At PrimeXBT, one can find an array of trading features, regardless of whether one is a novice or persisting with advanced trading. Here are the common features:
Buying Crypto: You can directly purchase cryptocurrencies on the PrimeXBT platform.
Trade Crypto Futures: Bitcoin and other assets can be well traded using futures contracts to speculate on their price movements.
Copy Trading: There is an opportunity to mimic the trade types used by profit-making traders;
CFD Trading: Contracts for Differences (CFDs) pertaining to crypto, forex, indices, and commodities are made available by PrimeXBT.
Is PrimeXBT Safe?
Due to the recent rise in information surrounding the hacking of cryptocurrency exchanges, one of the major aspects of self-management for the trader becomes their safety.
This is not only one of the key considerations in our grading of an exchange but also the major aspect of offering any said reviews.
There are several beliefs that PrimeXBT upholds, and thus, it embraces elaborate measures of cyber-security practices in order to implement proper measures to mitigate the risk to the funds of the customer.
Moreover, the company performs regular stress tests and security audits in order to comply with the highest security standards.
PrimeXBT Exchange Features
Award-winning platform
PrimeXBT stands out in the trading industry with numerous awards for superior performance and innovation.
High Leverage Trading
PrimeXBT offers 100x leverage on various assets, which helps traders enhance their position and maximize the returns they can earn.
Advanced Charting Tools
This platform comes with advanced charting features that provide charts with self-chosen indicators as well as elements for technical drawing to support trading.
Wide Range of Assets
Users on a single platform can trade different ranges of cryptocurrencies, forex, commodities, and stock indices.
User-Friendly Interface
The exchange has a modern and easy-to-use interface for both beginner and advanced traders that helps traders trade and locate different features on the exchange with ease.
Low Trading Fees
With abundant fees, which are as low as 0.0%, PrimeXBT eliminates costs incurred in trading and leaves room for rent profits.
Innovative Covesting Module
This enables users to replicate profitable traders and, in the process, realize gains.
PrimeXBT Exchange Android & IOS Mobile App
The PrimeXBT mobile application, both on Android and iOS, provides a full trading experience from any location.
Users are able to place trades, open or close positions, and keep an eye on the market while the transaction takes place without being bound to a certain place.
The application supports advanced trades and provides tools for more complex charts and technical analysis, all while being mobile.
Push notifications serve flexible functions to notify traders with respect to prices for their trades and about orders executed.
Additional security is provided through two-step security and other security settings.
Generally, a user-friendly interface has been designed for the management of clients’ accounts regardless of their experience with trading platforms.
PrimeXBT Restricted Countries
The global platform is available to customers worldwide, except for countries with service restrictions, such as the U.S., Canada, Japan, Algeria, Ecuador, Iran, Syria, North Korea, Sudan, and others listed on the website.
Is PrimeXBT Regulated?
Although PrimeXBT is registered in Seychelles and, has offices in St Vincent and the Grenadines, and has recently explored the possibility of basing itself in Switzerland, the company is not operating under any regulatory framework or holding appropriate licenses.
It raises a red flag for many as it means there is no single body that can be held responsible and a court of laws where rules and regulations can be enforced toward the platform.
Simply put, the clients who elect to make use of this platform have nowhere to turn to and do so at their peril.
If the company says up yours and bails out, or pulls the rug on their customers, or explicitly says you held a losing trade and there’s no payout — very little can be done legally towards them.
Not that this is the case, as the platform is, for the most part, favourably reviewed, seldom attracts a complaint or outcry and has had a lot of happy customers for years, but this is still a very important factor.
PrimeXBT Customer Support
The platform offers instant support – a necessity for every trader who has open positions and active funds.
The easiest way to contact customer care is through live chat, which is available 24 hours a day, seven days a week, on the trading platform itself.
If you have further questions, you may write to them at support@primexbt.com.
For support needs that require immediate assistance, please use the phone and call PrimeXBT’s support service as social contact, such as X or Telegram, for instance.
PrimeXBT does not have a separate hotline for contacts in force majeure situations.
However, you may see the status of the trading engine or deposit/withdrawal activity and the website itself on their status webpage.
PrimeXBT Alternative Exchanges
Bybit
Advanced trading options available on the Exchange, supported by the great usability of the interface, are major competitive advantages of Bybit; in addition to that, there was an availability of many cryptocurrencies and high leverage. It also has strong security and is a great mobile application.
Binance
Among crypto exchange websites, Binance is distinguished by a great number of features, such as a variety of possible trading pairs, high-quality services, and a reasonable price for trades. It is a two-level market that serves both spot and separate futures trading.
BitMEX
For cryptocurrency derivatives fans, you could try BitMEX, which offers extremely high option leverage features. It is popular because it has sophisticated trading features and a thorough market analysis.
KuCoin
For low trading costs, KuCoin has many coins and gives you the opportunity to do margin trading. It further allows for difficulties in accessing the platform via her mobile app with limited options.
FTX
FTX has some of the most exciting trading features, including tokenized stocks and prediction markets. It has a high level of leverage, reasonable fees, a wide trader’s toolbox, and different levels of support for trading activities.
Conclusion
To sum up, PrimeXBT is undeniably one of the best trading platforms that provide high leverage, complex charting features, and high asset diversification.
The platform’s intuitive interface and low transaction costs, complemented by advanced features such as the Covesting module, will make it possible for both current and beginner traders.
Additionally, the mobile application enriches the experience by allowing constant access to the trading platform, effective features, and needed notifications.
It does not overstate that PrimeXBT has everything to satisfy and, more importantly, all the modern requirements of traders looking for both convenience and efficacy in their trading process.
