PrimeXBT Review 2024: Pros, Cons and How it Compares

However, whereas Coinbase offers no margin or futures products, PrimeXBT offers up to 100X leverage. The withdrawal process on PrimeXBT typically takes between 24 to 48 hours. The order form also displays recent trades and order book data. We agree that it offers great potential but should be used with caution due to the risks involved. Both charge a $5 fee that is significantly higher than the fees on Binance and Bybit. 1st Floor, Meridian Place, Choc Estate, Castries, Saint Lucia. Typically, exchange tokens allow holders to access special perks like trading fee discounts and access to exclusive events like token sales. Perform Market Analysis: Use PrimeXBT’s advanced charting tools and technical indicators to analyze market trends and identify potential trading opportunities. 2024 00343, having its registered office address at PKF Corporate Services Ltd. The Covesting module has introduced a 1% entry fee for all new followings, but you can waive the entire fee by activating the COV utility token. I opted for the LTC/USDT perpetual futures pair and placed a limit buy order, which was executed as soon as the price reached the limit, costing me 0. Users can earn www.primexbt.com up to 14% on their crypto deposits for Ethereum, USDT and USDC. This is something that you can get in your account management page under the “referral” section. PrimeXBT offers mobile apps for iOS and Android, providing the same trading instruments. While most exchanges don’t support withdrawals to a bank card, PrimeXBT does offer this option but charges a 5% fee, making it unsuitable for large withdrawals. Crypto Futures and CFDs products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. Crypto futures are contracts that let you buy or sell a cryptocurrency at a predetermined price on a specific future date. Your friends can trade Cryptocurrencies, and Indices, as well as Commodities and Forex, from a single account. Have you tried the latest version of our application. Its trading contests, referrals, and affiliate programs also attract traders. By staking their DOT, holders can help to secure the network and earn rewards in the form of additional tokens.

Conclusion

It’s important to note that most cryptocurrency exchanges are still largely unregulated, so no exchange can be considered completely risk free. Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China. Perhaps the quickest and most effective way to get hold of their customer support is through the live chat that can be accessed right from the trading platform. PrimeXBT does not charge fees for Crypto and Fiat deposits. Fiat Deposits: PrimeXBT does not support any form of bank transfer, however, it does accept deposits directly from a bank card without any fees, which is a rare feature even among top industry platforms. Additionally, the PrimeXBT compliance department reserves the right to ask for additional documentation at any time while using PrimeXBT services, such as proof of address, ID forms, and more, depending on a variety of factors such as client activity or the total amount transacted. Date of experience: September 05, 2024. $2,000 by bank card. Twitter: aylerTBMLinkedin. It is ideal for experienced traders, offering advanced charting and a variety of tools to support diverse trading strategies. Given that PrimeXBT has developed a highly efficient trading engine, they are able to execute orders at below 7. Short sellers also are required to make any payments on an account where bonus share issues, spinoffs, and share splits happen. Traders are looking for maximizing their profit by utilizing any and every feature they can get. Plus, details like this can help those who enjoy copy trading on the exchange. Leveraging smaller price movements can indeed be a strategic approach, especially when combined with our low fees of only 0.

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Bybit has become such a reputable crypto exchange that they have attracted institutional investors and professional firms as well as retail traders, despite the fact that they are unregulated. 3 billion fine for failing to comply with AML regulations. Virgin Islands, Northern Mariana Islands. Before making financial investment decisions, do consult your financial advisor. We will delve into these aspects in the subsequent sections. Managing risks does however mean creating a strategy. 25%, to 5%, marking its first rate cut since the onset of the COVID 19 pandemic in 2020. As your trading volume increases, you become eligible for lower fee rates, reducing the overall cost of trading. If you want to reduce the risk, you can simply open a smaller position. Now that you have defined your position size, simply hit “Sell” and your trade will immediately appear in the “Positions” section of the trading platform. But the perks of trading here are not limited to that, such as leverage crypto trading, incredibly low fees, reasonable deposit requirement, no KYC policy and much more. Trade cryptocurrencies, commodities, Forex, and major stock indices with ease using CFDs. Last Updated: June 14, 2024. Founded in 2018, PrimeXBT is a futures and CFD trading platform serving over a million users in more than 150 countries. Gain up to +90% in minutes” etc. The deposit duration depends on network confirmation but keep in mind that PrimeXBT processes all withdrawals only once a day, between 12:00 and 14:00 UTC so it will probably take longer than a normal BTC transaction. For those using the mobile platform, biometric authentication like fingerprint scanning or FaceID is available, while desktop users must rely on entering their password each time they log in.

Who has traded in PrimeXBT?

The platform employs a multi signature withdrawal system to enhance the security of user funds. Using an incorrect deposit address can result in lost funds or failed transactions. Derivatives are financial instruments that are designed to track the price of an underlying asset. Providing a great set of tools for traders is our goal, and we’re glad you’re enjoying it. You will then find your bonus – up to $7,000 – as a reward in your trading account. Trading cryptocurrencies on margin carries a high level of risk, and may not be suitable for everyone. Kim Chua is an institutional trading specialist with a track record of success that extends across leading banks including Deutsche Bank, China Merchants Bank, and more. Lastly, you can’t rearrange or resize modules on the desktop platform. I found that funding fees on PrimeXBT were noticeably higher than on Binance and Bybit.

Alternative 3

Agree and Join LinkedIn. Empower your team by selecting the PrimeXBT competitor that best fits your specific business needs. Some offer both options, where cross margin uses the entire account balance to manage losses, while isolated margin risks only the margin of the particular position. When the market does recover, Cardano could be on track to take out $10, and re enter price discovery with no real resistance to speak of. PrimeXBT Crypto Futures offers long and short positions on major Cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more. PrimeXBT is a CFD exchange that offers a suite of trading markets, including some cryptocurrencies. In the cryptocurrency space there is a lot of room for run of the mill digital assets like Bitcoin, but. A panel of experts from Finder has XRP price predictions for this year based on whether Ripple will win or lose against the SEC. By signing up, you agree to our Terms and Privacy Policy. LinkedIn and 3rd parties use essential and non essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads including professional and job ads on and off LinkedIn. A third party Bitcoin purchasing service helps a trader quickly buy coins with the use of a credit or debit card. Yes, there are withdrawal limits on PrimeXBT, which depend on the user’s account verification level. Before making financial investment decisions, do consult your financial advisor. Specifically, if you’re financing a leveraged position for more than 24 hours, you will then be charged with the overnight finance fee. Margin trading is a great tool if you have a profitable trading system. While there were many things that we liked about the PrimeXBT exchange, there are a few things that we think warrant improvement. PrimeXBT offers an award winning crypto futures platform that supports copy trading. They also use Cloudflare’s technology to mitigate the risks of DDoS attacks. Please choose report type. However, depositing fiat currency requires KYC verification. These products are not suitable for all investors. I initiated a fiat withdrawal to my Volet account, which took almost 18 hours to process. In this comprehensive review, we will delve into PrimeXBT’s features, advantages, and drawbacks to provide you with all the information you need to decide whether the platform suits your trading preferences. PrimeXBT does not accept clients from the following restricted jurisdictions: The United States of America, Japan, Canada, Cuba, Israel, Iran, New Zealand, Syria, North Korea, Sudan, United States of Minor Outlying Islands, America Samoa, Russian Federation, Myanmar, Saint Lucia, Puerto Rico, Guam, U. If you do not understand the risks involved, or if you have any questions regarding the PrimeXBT products, you should seek independent financial and/or legal advice if necessary. In contrast, competitors like Binance and Bybit provide more transparency, which can instill greater confidence in the security and management of user assets.

My Key Takeaways After Testing PrimeXBT on Mobile

This account is designed to cater to traders of all skill levels. In my experience, PrimeXBT’s desktop platform delivered a smooth and reliable trading experience. Neither PrimeXBT nor FTX can be used by US persons, and FTX instead offers a US version of its exchange whose trade offerings are far more limited than its parent global exchange and do not at all compare to FTX International’s selection. Read our latest and most popular featured articles. Furthermore, PrimeXBT doesn’t allow transactions in anonymous cryptocurrencies that obfuscate blockchain data. Both platforms also utilize multi signature authorization for withdrawals and the movement of funds, meaning one bad actor can’t swipe the funds without secondary signature authorization. Customers can fund their accounts by depositing via bank card or bank transfer. As an active trader, I appreciated the inclusion of advanced technical indicators and the availability of high leverage. When it comes to maximizing your trading potential, understanding the best PrimeXBT promotions is essential. Even so, Binance has set itself apart by offering an insurance fund for user assets. Depending on the offer selected, affiliates can enjoy up to 50% profit share and $2500 per referred client. The exact amount does depend on the market involved, as the amount of “leverage”, or the multiplier of your initial deposit will vary. Zengo not only allows users to purchase, sell, and trade a diverse range of cryptocurrencies but also enables effortless interaction with numerous Dapps and DeFi platforms via WalletConnect. Factors that can affect swap fees include central bank interest rates, exchange rates, and whether your position is long or short. LinkedIn and 3rd parties use essential and non essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads including professional and job ads on and off LinkedIn. Actual Crypto Currency Services are provided by Baksta UAB Baksta, a company incorporated in Lithuania with Registration No. Traders can take advantage of bullish and bearish market conditions by going long or short. If it is a “day order,” then at the end of the trading session, if the order has not executed, it will be canceled. Polygon has captured the imagination of many Crypto enthusiasts looking toward Web 3. Personally, I secured my account using Google Authenticator and FaceID on my phone, and the setup process was quick and straightforward, taking just a few minutes. Polkadot ensures that parachains can benefit from the network’s overall security by using the shared security principle. If Cardano is able to live up to its claims, it may establish itself as a strong rival to Ethereum and maybe draw users and projects away from it, which would expand its ecosystem. The app is now available for both Android and iOS users. We’re glad that you appreciate this integrated approach and find it beneficial for your trading strategy. What you should know about high risk investmentsRead more.

Pros:

Once your deposit is received, we’ll credit the money to your chosen wallet or trading account instantly. The platform offers its diverse customer base cutting edge products and professional trading conditions. The tabs hows your sizing, the fill price, the current price, your profit or loss, take profit and stop loss targets, and it gives you an option to close the position. The exchange will keep a small fee for facilitating the trade. 01%, while on PrimeXBT, they were consistently over 0. This minimized my losses and still only cost 0. Follow these steps to export your transactions from PrimeXBT. We do not solicit clients residing in the above regions and only accept clients that register at their own initiative. This multi level referral scheme offers additional commissions: 20% for direct referrals, 15% for level 2, 10% for level 3, and 5% for level 4 referrals. This means affiliates will receive 50% of their qualified referral’s profit generated on this platform. Cryptocurrency: Prime XBT supports BTC, ETH, USDT, USDC, and COV deposits. If you’re an experienced trader, you can set up your own portfolio and trading strategy for others to follow.

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Yet, the ease with which one can leverage these trading opportunities remains uncertain. The desktop platform largely follows the industry standard layout, making it familiar and easy to use for traders moving from other trading platforms. Virtual Assets are volatile and their value may fluctuate, which can lead to potential gains or significant losses. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. Primexbt is a leading cryptocurrency exchange catering to both novice and experienced traders. This high leverage means that even with a small initial investment, traders can engage in larger trades, tailoring their leverage according to their risk tolerance and trading strategy. This involves registration, verification, and funding your account. By leveraging these resources pun intended and approaching the market with a cautious and informed perspective, you can navigate the exciting realm of Crypto leverage trading with more confidence. This action will enable you to enjoy various benefits, such as trading fee discounts or deposit bonuses, depending on the specific offer tied to your code. I’m sure you must have heard about many copy trading platforms and how they help place successful trades and increase the quantum of profits. This website is owned by Prime Technology Ltd, a company registered in the Republic of Seychelles, with Registration No. For our trading test, we thoroughly evaluated the PrimeXBT platform. We noticed that the platform lacks TradingView support and instead relies on an in house charting system. Nicholas Sciberras, senior analyst at Collective Shift, points out that the idea that bitcoin could one day be worth a million dollars per unit “really shows how far we’ve come. You should always DYOR about exchanges and check out user reviews before depositing any funds. Traders that trade with a margin brokerage sign a contract when they open up an account that allows them to borrow a specific amount of the purchase price of investment. For starters, the highest leverage for each pair is only accessible if you select cross margin. Crypto Futures and CFD Services on our inhouse platform are offered by PrimeXBT Trading Services Ltd PrimeXBT, a company incorporated and existing under the laws of Saint Lucia, with Registration No. Below are the discounts that you can earn based on the 30 day rolling trading volume. I guess the global markets are just for fun idk. However, AI bots aren’t a surefire way to make money. On the other hand, if sentiment changes and ADA price soars and gives a 4 hour candle closing above $0. Remember: don’t invest more than you’re willing to lose and happy trading. Check out our full PrimeXBT review to learn if it’s right for you. You can get alerts by signing up for a free StatusGator account.

Up to $7000 Tradable Bonus on your First Deposit💰

Buying on margin involves the borrowing of money from your broker to put a bigger position on. DeFi – This section is definitely designed with first time DeFi users in mind. A strategy is a pool of a trader’s personal funds which are visible to the public and can be followed by other customers on the platform. Everything is clear here, even though I’m completely new to this business and I don’t understand a lot. More than 50 intelligent drawing tools for in depth market analysis, and educational resources on the most popular trading concepts. As you can see, this is where you track the performance of your position. 01 BTC Equity, with more Available Margin left and less risk of position liquidation should the market move unfavorably. Satrix40 STX40Alt X IndexWall Street Index DJIAFTSE 100 Index UKDAX Index GermanyNikkei Index Japan. Koinly crypto tax software makes it easy to do your crypto taxes whichever exchange, wallet, or blockchain you’re using. This means that it is easier to buy and sell large amounts of a given cryptocurrency without affecting its market price. While it offers two factor authentication 2FA to enhance account security, several factors raise concerns about the platform’s safety and reliability. If the margin is almost fully utilised due to the market exposure which was the case as it follows from your explanation, even a slight increase in the spread and associated unrealised loss can trigger liquidation to enforce the margin rule as the account’s margin becomes insufficient to maintain open positions. 10 Best Forex Brokers in Namibia. Select your country to review all available payment methods. Enter the amount you want to allocate to the strategy. Security is a big deal here, with things like two factor authentication and SSL encryption. Short selling, on the other hand, allows you to profit from falling prices in the market. The exchange hasn’t been hacked up to the point of this writing and is considered one of the reliable and secure trading platforms. 6 months ago 416 views. I just opened trading account on this platform and still learning its functions🧐I noticed that I have several trading modes account types available to meI chose crypto trading. I think that payments and pricing here are good because of the crypto exchange part of the company. It’s great to hear that you value the diversity of financial assets available on our platform. Save more money and time by browsing our hottest deals. Explicit financial advice is also not allowed. Market research: PrimeXBT offers weekly market research, providing traders with access to in depth market analysis. It’s preloaded with hundreds of popular indicators like strength index, moving averages, etc.

🚀 PrimeXBT Deposit Bonus 🔥 Get 20% Bonus For Your First Deposit, Up to $7000 Tradable Bonus 💵

Com, Kraken, or Binance. Customer Due Diligence CDD may be initiated at any time to verify identity or source of funds, safeguarding against misuse and ensuring adherence to Anti Money Laundering AML requirements. Date of experience: September 04, 2024. This means that user funds cannot be sent to a rogue address in the instance where an account is breached. Imagine you buy $1,000 worth of Bitcoin without leverage. Getting started with crypto can be hard. Compare PrimeXBT with the top 3 similar brokers that accept traders from your location. As a result, the price of BTC rose even more after this saga and continued charting new highs, rising a whopping 15% over the Christmas weekend. While PrimeXBT does not typically support direct fiat deposits including via bank cards or bank transfers, users can buy cryptocurrencies using these payment methods via third party services. These products are not suitable for all investors. The Ascent, a Motley Fool service, does not cover all offers on the market. The cryptocurrency market is highly volatile. 📊💼 Diversify and optimize your investments with PrimeXBT. 81% express bearish sentiment, and 30. To buy, you place an order on an exchange, where your order will be fulfilled at the market prices. This places PrimeXBT more in line with the fees model of a CFD broker than a Futures exchange. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

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Through its partnership with Covesting, PrimeXBT’s Covesting module allows traders to automatically mirror the trades of successful strategy managers on the platform. PrimeXBT appeals to those focused solely on trading without the distraction of additional crypto related services like lending, borrowing, or staking. These tokens are designed to provide traders with magnified exposure to price movements of various assets, either upwards or downwards. Not letting emotions dictate a trading decision can be a huge challenge to a trader. Traders give the platform’s dark theme positive reviews, especially for late night trading sessions, highlighting PrimeXBT’s attention to aesthetic detail. These devices are also called cold storage devices. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money. Even though prices are often influenced by fundamentals, technical levels are important too. Additional features include Trading and Analysis Tools, a Referral and Affiliate Program, various rewards, and contests. Purchasing Bitcoin and altcoins on PrimeXBT can only be achieved with the use of your Visa or Mastercard. Determine your risk tolerance and use platform tools to set maximum loss limits or allocate specific account percentages to individual traders. PrimeXBT features low trading fees, a seamless trading experience, advanced copy trading, and high withdrawal limits for verified users. Over the last few years,. Additionally, the absence of mandatory KYC verification allows users from around the world to access the platform, bypassing geographical restrictions by using a VPN. However, demand can make almost anything possible. With Perpetual Contracts: Daily fluctuating funding interest rates for leveraged positions. Always check for the most current information on PrimeXBT’s official website as these details can change. Prime XBT’s affiliate program does not differ from similar programs at other crypto exchanges. Unfortunately, they do not have a dedicated phone line which you can dial in the case of an emergency. By applying fee discount codes, traders can reduce the costs associated with executing trades. The biggest issue that XRP is going to face is that if it becomes too expensive, banks won’t use it. Once a customer has decided which trader they would like to follow, they will need to make sure the funds they want to copy trade with are in their main wallet, not the trading wallet. If you do not understand the risks involved, or if you have any questions regarding the PrimeXBT products, you should seek independent financial and/or legal advice if necessary. I am way more confident and trade fx pairs with pleasure here. To evaluate the quality of customer services for diverse user needs, we created a unique trading test. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. In this case, if your TP/Limit buy order was NOT executed, this means that the ASK price of the asset has NOT reached the price specified in your order. Of course, the higher the margin is, the more funds you have to borrow, and that’s why fees will also cost more, and the liquidation price will be closer. PrimeXBT, on the other hand, also offers major and minor forex pairs, global stock indices, energies such as crude oil, plus precious metals like gold and silver. PrimeXBTalso offers a simple way for traders to buy major Cryptocurrencies like Bitcoinand Ethereum directly through the platform via bank card or transfer.