This review of PrimeXBT will help you decide if it is worth your investment in time, effort, and capital before registering for a free account.
About PrimeXBT
PrimeXBT is a multi-asset margin trading platform available to novices and professionals. Accounts are based in Bitcoin, but the platform offers traders exposure to over 50+ assets via CFDs ranging across forex currencies, stock indices, commodities, and crypto assets.
The variety in trading instruments offers additional opportunities beyond what many other platforms offer, enabling unrivaled portfolio diversification and the ability to manage multiple trades across many assets at once, at an all-in-one solution.
Forex currencies include all the major FX pairs; stock indices range across US, Europe, Asia, and Australia; commodities include oil trading, gas, gold, and silver; and cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, and EOS are available as well.
Reputation
The advanced trading platform has earned itself a positive reputation due to its continued client-focused approach. While any trading business’s primary goal is to make money off the trading fees generated by each position, the platform is always going the extra mile to keep fees low, provide discounts, and offer all of the tools traders need to be successful.
Constant reinvestment in R&D leads to new innovations and new trading instruments being added on a semi-regular basis.
The platform has also won a number of awards, including three Forex Awards and the ADVFN award for Best Bitcoin Margin Trading Platform.
Getting Started
Registration takes less than one minute.
Follow the steps, enter any required information, and visit the confirmation link sent to your supplied email address. It is an incredibly simple process that anyone can complete.
Making a Deposit
Extremely low minimum deposits of only 0.001 BTC are required to begin using the platform. Deposits are made directly to a BTC wallet generated by the platform.
Remember to only send BTC to the BTC address, however, the platform also offers a third party module called Changelly that allows additional deposit options such as fiat or altcoins.
User Interface
The user interface is clean, clear, and easy to understand. The trading terminal is customizable to offer users the ability to make their perfect set up, choosing everything from indicators to assets, watchlists, and more.
The platform offers enough depth and advanced tools that experienced traders will find themselves right at home, while newcomers will be immediately comfortable with the simple to understand tools.
A help center is available in the upper right hand corner of the site at all times if any assistance in using the platform is needed.
Trading Tools
Long and short positions are offered on the Bitcoin-based margin trading platform, in addition to stop loss and take profit orders for added control and risk management.
Built-in charting software is included, complete with over 50 technical analysis indicators.
Traders can draw trend lines, patterns, or plot support and resistance to help them execute a successful trading plan.
Orders are executed quickly with limited slippage thanks to the tight spreads and high liquidity offered on the platform.
Fees
Trading fees are highly competitive, as low as 0.001% to 0.05% on cryptocurrencies. An overnight financing fee is also charged for longer term positions.
There is also a progressive fee discount system offered by the client-oriented platform, which rewards the most active traders on the platform with exclusive discounts depending on what level of trading turnover is reached.
Discounts range from 25% to as high as 50% off all trading fees.
Additional Revenue Options
Trading isn’t the only way clients of PrimeXBT can make money. A four-level referral program helped the platform go viral early on and build its initial customer base.
Clients earn a 20% commission on the fees of any traders they bring in. But the new clients the referrals bring in, also earn the original client commissions, for a grand total of up to 40% in commissions total earned.
CPA offers are available for affiliate marketers and webmasters, and an ambassador program is available to high level influencers or traders with large followings.
Platform Security & Stability
The platform has never experienced a hack, which is more than most others can say. User funds are protected behind two-factor authentication and compulsory address whitelisting. Bank-grade infrastructure keeps the platform steady and stable, even during peak volatility.
While other platforms are flash crashing, PrimeXBT typically remains stable and boasts as high as 99.9% uptime.
Customer Service
Although few issues arise, clients can always turn to the friendly customer support staff that is available 24/7 via live chat or email.
The website’s help center is also jam packed with tutorials and further tips on how to get the most out of your experience.
Conclusion
There is a ton of value packed into the PrimeXBT trading platform. Whether it is the variety of attractive trading instruments or the powerful trading tools and ease of use, there’s something for everyone to like about PrimeXBT.
Registration is fast, and there are low minimum requirements to get started.
