PrimeXBT is a bitcoin-based margin trading platform founded in 2018. The exchange currently provides access to over 80 assets for traders in over 150 countries worldwide. PrimeXBT also provides access to high liquidity and security for its customers. Assets include cryptocurrencies, (Bitcoin, Ethereum, Litecoin, XRP), forex, commodities (metals, oil, gas), and indices such as S&P500, DAX, NASDAQ, and a lot more.
PrimeXBT is designed to suit both experienced and new traders. The system processes a high number of transactions per second and with fast order execution and low latency. There are more than 12 liquidity providers for the platform with an average daily trading volume of $545 million. With up to 100x leverage, PrimeXBT provides one of the highest leverages of any margin trading platform.
This study highlights the key features of the platform that make it a great platform for trading any asset.
Fees
Fees are a major factor when choosing a trading platform. PrimeXBT charges lower fees than most other platforms in its class. Commissions are as low as 0.001% and the spread starts from 0. This is better than most margin trading platforms can boast of.
Covesting Copytrading Module
PrimeXBT makes it possible for even new traders to trade profitably while they learn how to become better traders.
This is achieved through the Covesting copy-trading Module, a feature that allows new traders to mimic the trading strategies of professional traders.
As the experienced traders’ profit, the copy traders profit too and learn in the process. They can copy the trading strategies of several traders at the same time using any asset of their choice. The platform also allows them to explore their portfolios and eventually open their own covesting strategies.
Multiple trading accounts
A strategy that helps to mitigate risk is to have multiple trading accounts for different assets. PrimeXBT now allows traders to open multiple trading accounts using additional currencies including stablecoins such as USDC, and USDT.
Multiple personal wallets
Apart from being a trading platform, PrimeXBT is also a platform for storing your digital assets. You can now create several personal wallets in which you can deposit digital assets such as USDT, ETH, and USDC. The wallets serve as personal wallets in which you can safely hold these assets for as long as you want. All assets are stored offline in cold wallets to ensure there is no chance of a loss should the platform be compromised.
Detailed activity reports
PrimeXBT gives you access to comprehensive reports on your portfolio and trading activities. This report can be seen under the reports section. You can make critical trading and investing decisions based on these reports as they are made available.
Margin
Margin trading is what PrimeXBT is known for. Margin is a deposit you make to provide you with increased exposure. PrimeXBT provides the bulk of the investment which increases your chances of making profits. This is known as trading with leverage and can be very profitable if used with knowledge. Traders gain access to assets such as Bitcoin and Ethereum without needing to have huge capital but can make huge profits with PrimeXBT’s margin trading.
Customer support
Customer support is very vibrant on PrimeXBT. Customers can contact the team at any time on any day. There are two available channels namely email and live chat. Complaints can be quickly resolved through any of these channels whenever the need arises in order to ensure that customers do not get stranded when using the platform.
