As a crypto trader, you are free to make choices. After all, the art of trading in itself is a path full of choices. In this case, however, you can either choose to trade from a random platform or go for a proven, highly reputable and multiple award winning portal that is perfectly designed to meet the needs of all trader executives.
The Blue Pill can be tame and ordinary, but if the Red Pill is your choice, that means trading with the best on PrimeXBT. There are several reasons why the cryptocurrency exchange stands out.
Distinctions aside (they are still important); the platform is multi-currency, supporting a wide range of popular financial assets and instruments.
It works like straight-through processing (STP) when matching orders and is therefore more liquid than competing exchanges, while traders benefit from relatively low spreads.
Fees on crypto pairs are competitive at 0.05% and even lower on other pairs like Forex or commodities.
This kind of flexibility and depth of liquidity is precisely what makes any trader thrilled, as it is inexplicably practical for a variety of reasons.
A, PrimeXBT supports direct trading of various cryptocurrencies, over 50 to be exact, including top assets like Bitcoin, ETH, XRP, etc.
At the same time, it is possible to cut the market, taking advantage of the fluctuation of indices like the S&P 500 and others, Forex pairs and commodities, including precious metals, all from the convenience of a only secure account.
These could be minimum threshold requirements for any serious trader, but there is more. The mix of crypto, Forex, indices and precious metals from the convenience of an account that can be obtained on the fly is further enhanced by the exchange supporting Bitcoin deposit.
As such, in PrimeXBT, BTC can be used as collateral during margin trading. And during margin trading, a trader has the option of expanding their portfolio to various uncorrelated assets spread across crypto, Forex, and any other supported instrument.
Also, since the exchange is designed to specifically meet the needs of various traders regardless of their experience, the platform supports high leverage. This means that a trader can start small and gradually build their account.
To help realize their full potential, PrimeXBT offers supportive educational material and various campaigns to help in this area. However, they do recognize that successful partnerships with other commerce-centric companies like Covesting, a DLT licensed service provider, Devexperts, renowned software developer or BitFury, help KYC AML compliance, thus improving the experience. user.
Through their agreement with Covesting, traders have access to copy trading functions. This is a huge relief, especially for traders – new or intermediate – who may be short on time or inexperienced but still want to make money from other experienced traders. For new traders in particular, this is a worthless feature that allows you to stay in the green while choosing successful trading strategies and strategies from professional traders.
In addition, PrimeXBT continues to evolve, introducing new features for its customers.
The recently launched Turbo platform allows traders to bet on the price of supported assets within very short time frames. Participants can earn up to 90% by predicting how the price action of an asset will change within the next 30 seconds, 1 or 5 minutes.
Each pair, however, has a different payout ratio and contract length. There is a ranking of the best employees.
Even so, a trader can start from the Bitcoin demo account before trying with real funds.
Once registered, browsing any PrimeXBT account is straightforward.
Upon login, you will be taken to the dashboard. There you have the option to deposit the supported assets such as USDT, ETH or USDC from your personal wallet or another exchange of your choice.
In this section, there is a whitelist feature where only approved addresses are marked for security reasons.
In the Reports section of the dashboard, a summary of trading activities can be previewed.
PrimeXBT also has a 4 level referral system where traders can generate income from direct referrals up to the fourth level.
Margin account: markets, order types and leverage
A trader can then access the Margin section of the menu. There is a watchlist feature that features assets and market instruments of interest.
Since traders have different interests regarding portfolio expansion and diversification, PrimeXBT now allows the creation of multiple margin accounts. These accounts can be denominated in various digital currencies including stablecoins like USDC and USDT for trading and P&L settlement.
After setup, a trader can click on any supported crypto pair and execute an order. Unlike spot trading, traders on PrimeXBT can buy and sell with displayed PnL denominated in the currency of their choice. This flexibility combined with high leverage means that a trader can profit regardless of market conditions.
Besides market, stop and limit orders, PrimeXBT supports other types of orders such as one cancel the other (OCO). This type of order allows the trader to place two orders, and when one is executed, the other is automatically canceled.
On the order window, any open trader has a âMargin Impactâ, giving the trader real-time information on the amount of equity available for trading. It also alerts whenever the margin is too low, thus reducing the risk of being liquidated, a leverage factor.
While a trader can choose any leverage that suits their risk profile, it should be nominal factoring, among other things, volatility and funds. PrimeXBT recommends that a trader’s margin stay above the 50% mark to reduce the likelihood of being called on margin, especially during times of heightened volatility.
PrimeXBT is a flexible and easy-to-use cryptocurrency exchange that supports buying and selling various assets with low fees.
Their customer support is reliable and has a habit of compensating users for errors resulting from downtime and the like.
With their partners and their determination to offer more to traders, this is one of the most sought after and reputable cryptocurrency exchanges.
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