PrimeXBT Review 2024: Pros, Cons and How it Compares

Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. However, I found the lack of biometric authentication support on the desktop platform disappointing, especially considering that Binance offers fingerprint scanning on the desktop. This website is owned by Prime Technology Ltd, a company registered in the Republic of Seychelles, with Registration No. Activation window: 24 hours. Deposits in BTC only. Platform ini membanggakan jumlah dagangan harian purata yang mengagumkan melebihi $1 bilion, disokong oleh lebih daripada 12 penyedia kecairan. The process to claim this bonus is simple. Gold is an established and mature market for investable assets. Regularly review your trading performance and analyze. A verification email is sent to the trader’s email ID; after clicking that link, they are automatically logged in to the account. In order for this eToro vs Prime XBT cryptocurrency exchange comparison to help you easily decide which brand is the best, each feature is represented with a score, a grading system or in any other commonly understandable format. Scan this code to download app. User friendly interface. Bybit has been expanding its user base, not only being adopted by retail traders but professional traders and firms as well, encouraged by Bybit’s sterling reputation and efforts in the crypto space. Below is a detailed look at the standard withdrawal limits for different verification levels. I initiated a fiat withdrawal to my Volet account, which took almost 18 hours to process. Yes Bitget offers fiat on and offramp services via third party integrations. The blog features six categories, of which Price Prediction, Market Research, and Education present the most valuable information for traders. This is why many prefer the term pseudonymous when it comes to crypto. ETHEREUM TRUST also marks a strong entry in the Copy Trading landscape, recording a monthly profit of 154. For residents located in these countries or traders who prefer spot trading which is more common, I recommend checking out our OKX review and Binance Review. Many competitors are more transparent than PrimeXBT regarding Proof of Reserves and the handling of customer funds. These include 41 different cryptocurrency pairs with a max leverage of 200x and several forex/commodity assets with leverage up to 1,000x. This includes cryptocurrencies, forex, commodities, and indices, allowing traders to diversify their portfolios and capitalize on various market opportunities. Its intuitive interface simplifies navigation for beginners, while educational resources empower informed decisions. 005 in its ninth batch, the success of BlockDAG’s early stages is a testament to the robust market confidence in its technology and future potential.

What is a market cycle?

The first step is to create a cryptocurrency wallet. Verification is a crucial step in ensuring the security of your account and maximizing your trading potential. Lowest fees: PrimeXBT offers some of the lowest fees in the industry, starting from just 0. While depositing and withdrawing to a bank card is convenient, it may incur conversion fees. We’re here to support your continued success and ensure your trading experience with us remains top notch. Let’s explore both sides of the coin. In terms of customer support, you have the industry standard options of the 24/7 live chat and email ticket system. Third party providers Volet and Perfect Money are also available but add an extra step compared to direct bank transactions. The platform also supports copy trading, allowing users to automatically copy and execute the trades of successful traders. Volet deposits are free, while Perfect Money charges a 1. Dogecoin is currently trading at $0. Temporary trading or deposit/withdrawal limits may be imposed until the required documents are provided and the CDD process is successfully completed. A well defined trading plan includes all necessary points, that you consider important, for trading the markets. Price Alerts: PrimeXBT does not offer custom price alerts, a common feature in the industry implemented by Binance, Bybit, and Kucoin. Other methods of buying crypto must be considered.

What Can You Trade With PrimeXBT?

PrimeXBT offers a significant degree of customization to its users. As new data continues to be released each week, particularly concerning key monetary policy indicators like jobless claims and unemployment claims, it appears that the recent market selloff may have been somewhat of an overreaction. Information regarding past performance is not a reliable indicator of future performance. Reply from PrimeXBT Copy Trading. By following these precautions, you can minimize the risk of using incorrect deposit addresses and ensure your funds are safely transferred. 🌎 Top 14 Global Brokers. As a typical rookie, knowing that this platform is mainly for crypto trading, I decided to start with global assets and forex pairs in particular. Since you don’t have a direct influence on what trades your followed trader will open, you’ll have to deal with liquidity risk. Yes, Perdagangan PrimeXBT on most platforms, you can adjust leverage levels according to your risk tolerance and strategy, subject to the platform’s limits. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. This reduces the risk of targeted hacking. Please, we’ve had enough of this type of marketing. The process generally involves. Actual Crypto Currency Services are provided by Baksta UAB Baksta, a company incorporated in Lithuania with Registration No. It depends on your individual risk tolerance and experience level. Market volatility, inaccuracy of signals, and the potential of scams means you always need to be aware of risk management. 1389% based on the type of trade. This often includes crypto derivatives like perpetual futures and options. Although it is vastly different, it more closely resembles Ethereum with its focus on smart contracts. While withdrawing to a bank card is the fastest and most convenient option, the extremely high fees are a major drawback. When you go long, you bet on the price going up and if it goes down you lose money on paper. PrimeXBT places a high emphasis on security. Past performance of a PrimeXBT trader is not a reliable indicator of his/her future performance. Scam Forex BrokersUnregulated Forex Brokers. A prime example of this is the recent, highly publicized ban on crypto mixer Tornado Cash.

Product type

Picture a trader that believes Bitcoin’s price is poised for a surge. Cardano stands apart from many other blockchain projects thanks to its emphasis on scientific precision, which also increases its reputation and growth potential. Before placing a leveraged trade, check how correlated markets are performing, such as equities or interest rates. By choosing CFD trading, PrimeXBT has chosen a path that aligns with its goal of being a comprehensive, user friendly platform for various crypto futures trading with low fees for a great trading journey. While withdrawing to a bank card is the fastest and most convenient option, the extremely high fees are a major drawback. If your account equity falls below a certain level, PrimeXBT will issue a “Margin Call,” automatically closing negative positions to manage risk, resulting in lost funds. It’s crucial to review these conditions before applying a promo code to ensure that you are eligible and can fully benefit from the promotion. Find out how we combat fake reviews. This is an alarm bell for many, as it means there is no authoritative body to hold the platform accountable or enforce any sort of laws or rules. Depositing to PrimeXBT also is how anyone can access the copy trading module and start copy trading a massive list of strategy managers who regularly show success. PrimeXBT employs advanced encryption technology and two factor authentication 2FA to safeguard user data and transactions. This is because PrimeXBT does not have knowledge of your transactions on other exchanges, platforms, or from your self custody wallets. Copyright © 2024 NCN Capital Accent Interactive. When we reached out, both Garret and Anthony below were free, and they got back to us almost immediately. Unfortunately, they do not have a dedicated phone line which you can dial in the case of an emergency. This ultimately brought in institutional investors, helping to fuel another crypto bubble. Be a part of the Interactive Crypto Community. Geographical Restrictions: Some No KYC exchanges restrict users from certain countries due to regulatory issues. Top Notch Brokerage Verification was fast Support respond almost instantly Withdrawals are processed in less than 5 minutes sometimes upto 20 minutes Very transparent bonuses and promotions i withdrawn 2 timesBut the CFD web interface need improvement. This is active and manned 24/7. Visit our Help Centre. All of these various strategies combined can improve the likelihood of success when trading, and protect capital against any potential risk associated with trading. To trade crypto futures is to trade contracts, called futures contracts, that constitute a legal agreement to buy or sell a particular asset at a predetermined price at a predetermined time in the future. If you have traded with PrimeXBT we would really like to know about your experience please submit your own review. The energy sector as a whole has been soaring, and investors are scrambling for a piece of the action. The platform delivers quick agent connections, but the clarity and attention to detail in their responses were sometimes lacking. PrimeXBT’s mobile app mirrors the tools and features of the desktop platform, offering a range of useful functionalities, including.

Is cryptocurrency trading 24/7

Thanks for your feedback. Disclosure: To ensure our site’s review data always stays free and running up to date, sometimes we might receive a small commission if the reader purchases through our site links, at zero additional cost. Additionally, BitSeven provides extensive educational resources such as tutorials, webinars, and articles to help users learn about trading and the platform’s features. Additionally, users can access their transfer histories through individual wallets. Once you have this data, you can calculate your capital gains or losses by determining the price at which you bought the cryptocurrency your cost basis and the price at which you sold it your proceeds. Compared to exchanges like Binance and Bybit, which offer over 350 tradable derivative markets, PrimeXBT is limited and primarily suited for traders focused on large cap tokens and seeking higher leverage options. Ask or send us a message on Twitter. I initiated a fiat withdrawal to my Volet account, which took almost 18 hours to process. While such high leverage amplifies potential profits, it also heightens risks. No withdrawal fees are charged. To engage in leveraged crypto trading options, traders must fund their margin trading accounts in specific digital currencies like BTC, ETH, USDT, and USDC and maintain enough free margin to cover potential negative price fluctuations. PrimeXBT isn’t just another trading platform; it’s a dynamic powerhouse offering leveraged trading on crypto CFDs, commodities, indices, and Forex. Since you don’t have a direct influence on what trades your followed trader will open, you’ll have to deal with liquidity risk. This guide will help beginners identify and avoid potential risks when selecting a cryptocurrency exchange. Notably, there are no trust scores from CoinMarketCap and CoinGecko. We also tested the trading functionalities by exploring different trading pairs and conversions and assessed the associated fees for transfers and withdrawals. The platform’s official YouTube channel provides educational resources, tutorials on trading, and updates on the latest platform developments. Depositing crypto assets via crypto networks was quick and easy, despite PrimeXBT only supporting 5 cryptocurrencies for deposits. Dear Rafael,It’s good to hear that during these uncertain times, PrimeXBT has been a reliable platform for you. The platform’s continuous commitment to advancing its offerings through features like the Covesting module and comprehensive customer support ensures that it remains a top choice for global traders. Select Accept to consent or Reject to decline non essential cookies for this use. We’re always looking to enhance our offerings. Next, you must select a Cryptocurrency wallet to store assets on. Upon registering, users automatically receive a СFD Trading or Crypto Futures USDT accounts. For those who do not pre own PrimeXBT Crypto, PrimeXBT allows users to acquire Crypto with credit/debit cards. One click trading: This feature allows traders to open and close positions, and cancel orders, with just one click. You can increase your available margin by depositing more funds, closing existing positions, or reducing open position sizes. Scan this code to download app.

Legacy Stock Indices

Enhancing Your Trading Experience. This is why most brokers, including PrimeXBT, have a built in “negative balance protection” to the platform. In one type of system, digital currency providers DCP are businesses that keep and administer accounts for their customers, but generally do not issue digital currency to those customers directly. Cardano has established itself as a prospective participant in the blockchain sector thanks to its scientific base, distinctive features, and emphasis on sustainability. Whilst my experience trading derivatives on PrimeXBT was positive, I was disappointed by the limited number of available markets compared to competitors like Binance and Bybit. The primary imperative of KYC compliance requirements is to ensure that funds are not used for money laundering, terrorist financing or other illicit cryptocurrency transactions. The spectrum of assets here is big, there are: fx; commodities; crypto; indices;and some others. We also offer the option to deposit money, or buy Crypto outright. The platform comes fully equipped with over 50 technical indicators and a full suite of charting and analysis tools. PrimeXBT partners with various fiat to crypto exchange services, allowing users to purchase cryptocurrencies with bank cards and have them directly transferred to their PrimeXBT wallet. Date of experience: February 20, 2024. Strategy Managers take the lead, controlling the trading activity of their managed strategies, while Followers seamlessly replicate these trades. However, those represent some of the most trusted Crypto assets and are a good starting point for trading. This information should not be misinterpreted as an endorsement to buy, trade or sell a cryptocurrency or any specific product or service. However, Bitcoin is currently the top ranked cryptocurrency, so it is considered better by a vote of capital. Launched in 2018, PrimeXBT has grown globally as it now offers its services to traders in over 150 countries. Grab Free Gift On Earn Rewards When You Sign Up. Lumens are most often used to pay transaction fees on Stellar. The user information on who has traded on PrimeXBT is confidential and not publicly disclosed due to privacy and security reasons. 600 + BTC: 50% discount. Proper trading analysis with charting tools can be the difference to being uninformed or trading empowered by data. Depending on your trading style, long term might represent a different time horizon for you. For withdrawal fees, opting for crypto withdrawals over the TRC20 network is more cost effective than fiat withdrawals. A quick 3min read about today’s crypto news. If you’re a beginner, it likely won’t take long for you to start trading, too – despite all the advanced trading tools and charts, PrimeXBT looks exceptionally intuitive and user friendly. Virgin Islands, Northern Mariana Islands. In contrast, Zengo is designed exclusively as a secure, non custodial crypto and NFT wallet. There is also the additional option of multi factor authentication, provided by Google, requiring both the account password and a personal smart device with the Google Authenticator app. This means that only $5,000 is technically at risk.

PrimeXBT Futures Trading Fee Structure

Leverage trading amplifies both profits and losses. Crypto trading fees start at 0. Key features such as copy trading and trading contests add to its appeal, while its lucrative affiliate and referral programs set PrimeXBT apart in a competitive market. I mean I regularly check certain materials to make sure that there are no turmoil in the market, and it really helps me to manage open positions effectively. These factors make PrimeXBT an attractive option from a cost benefit perspective. Only a month after the release of the PrimeXBT Android app, we are happy to announce that the iOS version for Apple smartphones is now live and ready for action. It is worth noting that Perfect Money charges the 1. PrimeXBT and BitMEX have established themselves as leading platforms in the cryptocurrency trading space. 306038128, having its registered office at Eisiskiu Sodu 18 oji street 11, Vilnius, Lithuania. With a 100:1 leverage, the required margin would be 1% of your position size, i. You can go through the entire process of “borrowing” coins from someone else to short on a futures contract, or you could take the much more straightforward route of trading the CFD market at PrimeXBT. Cryptocurrency arbitrage has become an increasingly popular investment strategy as the crypto market grows and evolves. The reduction of supply in Bitcoin, while demand remains constant, often leads to fresh all time highs in the following bull cycle. Overnight financing is not charged on weekends for markets that are closed during this time, however a triple financing rate is due on Thursday 00:00 UTC. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. This multi asset platform allows traders to hedge positions, diversify portfolios, and leverage market movements. Corporate Communication Structure and Transparency: The company does not share any information about its founder or current leadership on the official website. No, PrimeXBT does not provide a complete financial or end of year statement for your crypto transactions. Com Coupon Code: Receive Free Gift On Entire Site. The thing is that prices always differ from one broker to another, because such derivative is a trading instrument provided by the firm, and differently from Futures has no particular exchange. PrimeXBT will now ask you for this number. These fees are a common aspect of Forex trading and can vary significantly depending on the currency pair being traded. For starters, the highest leverage for each pair is only accessible if you select cross margin. Risk Warning: Trading in leveraged products carries a high level of risk and may not be suitable for all investors. Although they have the same commission for your direct referral, BitMEX does not offer tiered referral payouts.

Sins Of How to Bet on Golf: An In Depth Guide for Indian Bettors

You can add and remove from here anything you want. Another key benefit is Cardano’s dedication to sustainability and scalability. I got a top manager, we work with him as if in a pair. This website is owned by Prime Technology Ltd, a company registered in the Republic of Seychelles, with Registration No. 1% spot trading fee since the beginning. Deposits are made through third party services such as Coinify, Changelly, Xanpool, CEX. 2024 00343, having its registered office address at PKF Corporate Services Ltd. On the other hand, if you were to close out the position at $111, you would have a loss of $1000, excluding commissions. It’s become a market standard.

Supported assets for CFD

Prime XBT provides market access to investors. 1st Floor, Meridian Place, Choc Estate, Castries, Saint Lucia. Traders can also insert a referral code, if they have one, for special features and discounts on PrimeXBT. We use cookies to personalize content provided by analytic and advertisement partners to offer you the best service experience. Getting started with crypto trading. We do not solicit clients residing in the above regions and only accept clients that register at their own initiative. The crypto market has grown tremendously, with global market capitalisation reaching a trillion dollar valuation. The design of PrimeXBT’s platform is sleek and minimalistic. Actual Crypto Currency Services are provided by Baksta UAB Baksta, a company incorporated in Lithuania with Registration No. Here is how to use the Copy trading feature of Bybit. Another feature of PrimeXBT is that here all transfers both deposits and withdrawals are done manually. In both examples, the Bitcoin price rises to $50,000 per coin. As PrimeXBT does not offer spot trading, we have used Perpetual Futures as a replacement for the purpose of the trading test. Sign Up for Alerts: Subscribe to newsletters of PrimeXBT or follow PrimeXBT on social media to receive notifications about exclusive Labor Day offers. Best Regards,The PrimeXBT Team. Interestingly, the cryptocurrency underwent another fork in November 2018 and split into Bitcoin Cash ABC and Bitcoin Cash SV Satoshi Vision. These risks encompass the possibility of basing your trading decisions on the activities of traders who may lack experience or knowledge, or those whose goals, intentions, or financial conditions may not align with your own. It is worth noting that Perfect Money charges the 1. The most important thing is trust for primeXBT. PrimeXBT’s main products include CFDs and Forex trading, where users can trade various markets like EUR/USD and SP500, buying cryptocurrencies with Visa or Mastercard, trading crypto futures contracts for major cryptocurrencies like Bitcoin BTC and Ethereum ETH, and copy trading, which allows users to follow and replicate the trades of experienced traders. Margin trading is a great tool if you have a profitable trading system. Once you decide it is time to close your position, you can do so by taking a position that will be different from your original one. This streamlined approach simplifies entry into diverse markets.

Disclaimer

Summary: PrimeXBT is a trading platform featuring cryptocurrencies, commodities, Forex pairs, and major stock indices via contracts for differences CFDs. Futures contracts are traded like normal spot trades, however, they can be leveraged, up to 200x on PrimeXBT, and when closed, like spot trades, the difference between your asset futures contract and the spot price will define the size of your profit or loss—which can be exaggerated by leverage. Its innovative copy trading and PrimeXBT Turbo options also provide exciting avenues for traders to enhance their strategies and seize opportunities in the crypto landscape. Trading involves risk. In this PrimeXBT Review, we are going to take a look at the offer that this broker prepared for its traders. By entering the correct promo code, traders can activate the associated benefits, such as fee discounts or deposit bonuses. In this guide, we’ll explore cryptocurrency arbitrage and how it works. A couple of key aspects to consider when adopting a VPN provider are the following. Risk Warning: Trading in leveraged products carries a high level of risk and may not be suitable for all investors. To minimize trading costs, use limit orders whenever possible to benefit from lower fees, monitor market conditions to adjust your order type, and regularly review your trades to evaluate and optimize cost efficiency. Their fees are typically less than $2. Given that PrimeXBT has developed a highly efficient trading engine, they are able to execute orders at below 7. 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. 0001% on forex, indices and commodities. With a unique link, earn payouts from trading commissions paid by your referrals. Bitcompare does not look at or list all companies or products on the market. If you do not have this then you may have to wait for up to seven days as the broker manually resets this. Nothing on this Website is intended as a marketing or promotion of its services to citizens of the EU/EEA or the UK. 01% maker fee, and a 0. Congratulations, you bought some Bitcoin. It is split into two. 5 for PrimeXBT and 3. A total of 31 futures are available. This relocation reflects the platform’s strategy to align with progressive regulatory regimes. The easiest way to get tax documents and reports is to connect your PrimeXBT account with Coinpanda which will automatically import your transactions. But does this design translate into an efficient user experience. Step 4: Wait for approval and start promoting. That being said, traders need to be aware of both the pros and cons of doing so.

PrimeXBT

The lack of transparency regarding the founders, leadership, and Proof of Reserves is concerning and may deter some traders. 071 USDT in trading fees. While PrimeXBT has maintained a strong security record with no history of hacks, the platform’s limited transparency regarding customer funds and leadership structure raises some concerns. Step 5: PrimeXBT offers several different order types to assist with users’ trading and hedging strategies. PrimeXBT is completely transparent about their fee structure. Establishment: PrimeXBT was founded in 2018 and registered as Prime XBT Trading Services Ltd. For Followers, it’s an opportunity to automatically replicate successful trades, unlocking passive profit potential without actively participating in the market. These security features collectively ensure that PrimeXBT provides a secure trading environment, helping to protect users’ funds and personal information against potential threats. ETH price has changed by 1. Bitcoin represents a decentralized financial innovation with the potential to supplant traditional fiat currencies worldwide. However, the absence of custom price alerts was a notable drawback. Dogecoin is a Cryptocurrency altcoin that trades under the DOGE ticker symbol against USD and other Cryptocurrencies like Bitcoin. With a margin account, the same $10,000 could be lost entirely with one improperly managed position. From the negative side is the lack of information about the organization’s management, as well as the fact that training materials are not translated into Russian. Over the last few years,. Best regards,The PrimeXBT Team. DYdX is not available to residents in either country. They conduct thorough market research such as technical analysis, identify favourable technical indicators, and choose a suitable leverage ratio based on their risk tolerance. Past performance of a PrimeXBT trader is not a reliable indicator of his/her future performance. There are no fees for account deposits. Both platforms provide robust security, but their approaches to regulation may influence your decision. Bitcoin represents a decentralized financial innovation with the potential to supplant traditional fiat currencies worldwide. This BTC price prediction guide will help investors answer questions like “how high will Bitcoin go” and “what could Bitcoin be worth in 10 years.

PrimeXBT what is it?

Common examples of the schemes these cyber criminals carry out include fraud, malware, phishing attacks, and impersonating prominent crypto industry figures, celebrities, and even platforms such as PrimeXBT. Save my name, email, and website in this browser for the next time I comment. Unlike many competitors, PrimeXBT lacks a tiered fee structure for rewarding high volume traders with lower fees. 1%, and variable overnight swap fees tailored to each asset. Cardano aims to offer a more scalable and energy efficient network by adopting a proof of stake consensus method and adding numerous research based solutions. PrimeXBT offers an award winning crypto futures platform that supports copy trading. This feature, part of its Covesting module, allows users to replicate the trades of top traders, thereby gaining access to a range of traditional financial instruments, like other crypto exchanges, FX, and commodities. However, you won’t be able to access all of these products without completing some KYC. By comparison, this may appear to be a tiny trade, but smaller trades mean less capital is ever put at risk. To protect yourself from a negative experience of cooperation, you should carefully check the documentation, as well as the license on the official website of the project. Today is not liable for any financial losses incurred while trading cryptocurrencies. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own inquiries.