PrimeXBT Review – Margin Trading FAQ

Leverage trading Crypto presents a higher level of risk and reward. One of Bitget’s standout features is its extensive cryptocurrency support. PrimeXBT does not accept clients from the jurisdictions listed in the Company’s Restricted Jurisdictions List. Send Crypto to anyone, as long as you know their wallet address. As shown below, following this decision to cut rates, we have begun to see a noticeable upward movement in the total cryptocurrency market. When using a cash account, you face the typical kind of risks that you do with buying any security. One major thing to watch is the token unlock event set for mid December. For example, there are a number of customization options which allow users to alter the appearance of the charts. The developer, Prime XBT Trading Services Ltd. This website is owned by Prime Technology Ltd, a company registered in the Republic of Seychelles, with Registration No. If a broker charges $2. Both platforms offer robust support, but their approaches to education and customer assistance may influence your choice. Users can open accounts, deposit crypto, and start trading with just an email address. Regulation of an exchange in one of the countries with high legal culture is also an advantage. So, will the price of bitcoin cash go up. PrimeXBT’s platform accommodates spot trading, pending orders, and one click trading. You’re now officially part of the PrimeXBT community, ready to explore the vast opportunities our platform has to offer. PrimeXBT is always looking to stay competitive. 10, but said there could then be a dip to $1. The platform must also include a variety of trading tools, charting software, and exposure to several assets under one roof.

Can I change my leverage?

To trade with margin, users must fund their margin account after making a deposit to begin trading. Of course, buying and holding as a method to make money still has a lot to do with timing. Disclaimer: Trading cryptocurrencies and other assets with leverage involve a very high loss risk. First Digital USD FDUSD. Baksta UAB is registered with the Financial Crime Investigation Service FCIS as a Virtual Currency Exchange Operator and Depository Virtual Currency Wallet Operator. Swing traders hold stocks for several days or weeks, aiming to profit from medium term Stock price movements. The PrimeXBT platform publishes financial market news and reviews that can help traders make faster trading decisions. The potential return for a correct guess is preset by the turbo feature. Most online brokers try to provide options to customers in terms of accounts and our PrimeXBT review found that their service is no different. However, it is active on most social media platforms, such as Twitter X, LinkedIn, and Telegram, posting regular platform updates and educational content from its PrimeXBT Academy account. Anyone can write a Trustpilot review. The mobile app is ideal for staying conveniently connected to the markets anytime, anywhere. PrimeXBT places a lot of emphasis and effort towards their award winning trading platform and app. The charting platform on Bybit is powered by the insanely powerful and popular Tradingview, which has become the industry gold standard for technical analysis traders. PrimeXBT has one of the fastest signup processes, allowing users to register using an email address, Google account, or Apple account. Moreover, users can conveniently transact in US dollars. $20,000 or equivalent for unverified users. This symbiotic relationship creates a win win scenario – strategy managers earn a percentage of the profits made by their followers, while followers enjoy passive profits without the need for hands on trading.

How to Sign Up on PrimeXBT

Channels for Customer Support. Aside from their advanced crypto trading tools, they also offer other types of trading as well. PrimeXBT’s mobile app mirrors the tools and features of the desktop platform, offering a range of useful functionalities, including. Fees which traders should take into consideration are. These widgets can contain a chart, order form, trades, messages etc. SD162, having its registered office address at IMAD Complex, Office 3, Ile Du Port, Seychelles. These added tools will come in handy in preparing strategies and learning from mistakes. Bonuses: Various deposit bonuses are available for deposits of $1000, $2500, and $5000. Before adopting Prime XBT, I PrimeXBT Troubleshooting had issues receiving and sending earnings. WOULD strongly advise not missing on them. If you are looking for a leveraged cryptocurrency exchange with relatively advanced technology, transparent and low fees, and strong security procedures then it should be considered. The lack of transparency regarding the founders, leadership, and Proof of Reserves is concerning and may deter some traders.

PrimeXBT Asset Coverage

Benefit from spreads as low as 0. At the time of writing, customers can only withdraw cryptocurrencies; there is no fiat off ramp available for fiat to bank withdrawals. Requests submitted before 12:00 are processed on the same day, and after 12:00 are postponed to the next day. We do not solicit clients residing in the above regions and only accept clients that register at their own initiative. To do this, click on the “Main” page, then “Withdraw” on your chosen currency. In just the last few months, exchanges that formerly required no KYC like OKX, Bitget, and KuCoin have all either implemented KYC procedures, or withdrawn services from the US due to the harsh regulatory environment for crypto exchanges. This is not something that we have seen on other charting packages developed by an exchange. Readers should do their own research. This might not be an issue with small positions but if you have a significant position, that number will increase substantially – and these are funds that you can’t use to trade. This limitation restricts users from using payment methods directly supported by PrimeXBT, making it less convenient to deposit funds. There is no difficult button to use. Continuous learning is key to becoming a successful trader, and we’re here to support you every step of the way. By following these steps, you can address most causes of failed payments and ensure your transactions go through smoothly. It provides 31 Crypto Futures trading pairs and 37 CFDs, focusing on large cap cryptocurrencies like BTC and ETH. Since PrimeXBT’s inception, services have been restricted to users or residents of a number of countries globally. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. Daily from 12 to 14 hours UTC. To start interacting with PrimeXBT, you need to open an account on the exchange.

What bonuses and promotions does PrimeXBT offer?

That is not a criticism against them, these platforms are not in the niche of providing beginner and user friendly platforms, they are in the business of running advanced crypto trading platforms for serious and experienced traders. At the support level, the downtrend pauses because of a rise in demand. This means affiliates will receive 50% of their qualified referral’s profit generated on this platform. As a global trading platform, PrimeXBT is available in over 150 countries, making it more accessible than many of its competitors. We are advocates of moderately risky investing – invest most of your crypto portfolio in BTC 50%; 35% in a basket of big cap coins and the rest in small projects with huge upside. This website is owned by PrimeXBT PTY LTD previously named Stack Advisory PTY Ltd a company registered in South Africa, with registration No. PrimeXBT offers 24/7 customer service in 15 languages via live chat and email. Our website uses cookies. We would suggest you use the web app as the first port of call and leave the mobile app for monitoring open positions and having to perform on the go trade maintenance. Casual traders interested in digital assets can benefit from PrimeXBT’s extensive crypto offering. PrimeXBT is an award winning broker and copy trading provider that welcomes traders of all experience levels. Ready to take your investment game in SandP 500 to the next level.

How does PrimeXBT OCO work?

It’s become so profitable, some traders have started taking less positions and have let their commissions become their main source of income. This lack of transparency is concerning, especially since most leading cryptocurrency exchanges began providing PoR after the 2022 collapse of FTX. A margin call is when the value of your investments has fallen below the necessary collateral for the margin loan you have taken from the broker. It’s always a good practice to read the fine print and confirm eligibility before applying any promo code. PrimeXBT shall not be liable for any claims, costs, expenses, losses, or damages suffered by any person as a result of the Promo campaigns and Promo campaign rules and conditions. PrimeXBT only supports USD for fiat deposits and withdrawals, making it less convenient for users with other local currencies due to conversion fees. One of the biggest challenges Bitcoin and crypto investors face, is making a decision on where to safely store any coins for the long or short term. PrimeXBT does not accept clients from the jurisdictions listed in the Company’s Restricted Jurisdictions List. Correct me if I am wrong. The mobile app is slightly easier to navigate compared to the desktop platform, though the available trading instruments are still not ideal for beginners. Cryptocurrency trading firm PrimeXBT, which claims it handles more than $200 million in daily volumes, has released a new mobile app for Apple iOS smartphones and tablets. The platform’s commitment to uptime is crucial for traders who need to respond swiftly to market movements. A trade on the GBP/USD CFD contract has a margin requirement of 0. So, why engage in trading with them. In order to access Crypto Currency Services, you need to open an account with Baksta through the trading platform and accept Baksta’s Client Agreement. They have developed their own trading technology, making the platform robust with plenty of key features. So, for example, if you have selected leverage that is times 10, then you can expect the cost of the position to be reduced by a factor of 10. There are many crypto indices that provide different types of exposure to the market. PrimeXBT offers a variety of features and tools designed to enhance the trading experience. I see advantages of futures trading.

Does PrimeXBT offer any bonuses, welcome offers, or referral rewards to its users?

Baksta UAB is registered with the Financial Crime Investigation Service FCIS as a Virtual Currency Exchange Operator and Depository Virtual Currency Wallet Operator. Bisq is a decentralized Bitcoin exchange network, that allows peer to peer trading using unique, open source software that connects users who want to trade. This is probably due to the fact that the US has banned the form of CFD margin trading featured at PrimeXBT. While this means that withdrawals can only be made to accounts that have worked in the past, it does add an extra step and is rather inconvenient. Moreover, all users who sign up via our link can receive a 20% deposit bonus. PrimeXBT provides traders with an interesting alternative to the status quo with crypto margin trading. These Know Your Customer steps help crypto exchanges determine each client’s virtual currency money laundering risk and prevent financial crime. Before you start using leverage in your trading, there are a few tips that you may want to take to heart before risking any of your hard earned capital. For example, if a trader has $1,000 and uses a 10x leverage, they can enter a trade worth $10,000. However, any withdrawal requested after 12:00 UTC will be processed on the following day. In today’s ever evolving world, notably in the workplace, the workforce is increasingly working toward remote jobs of at least offering. This is because the platform provides technical solutions for buying and selling currencies, and liquidity is provided from partners. Engaging in trading through PrimeXBT, whether by following, copying, or replicating the actions of other traders, carries significant risks, including those associated with following or copying traders. The exchange does not currently offer fiat off ramps for withdrawals. While it offers two factor authentication 2FA to enhance account security, several factors raise concerns about the platform’s safety and reliability.

Category

Fill in all the required information with your valid details. The few scores available are largely negative, primarily criticizing the platform for its lack of Proof of Reserves, absence of an active bug bounty program, and overall lack of transparency. Refer clients and enjoy lifetime commissions. Upon registering, users automatically receive a СFD Trading or Crypto Futures USDT accounts. Date of experience: December 14, 2023. The other thing about crypto is that the regulatory framework is not well developed. This means open positions can see their maximum potential, even if the market experiences a movement against the trade. Traders can speculate on popular cryptos with commissions as low as 0. There are several payment methods that users can validate on PrimeXBT, including credit/debit cards, bank transfers, and cryptocurrency wallets. PrimeXBT payments offer numerous benefits that enhance the trading experience. For example, the platform charges 0. The world of trading and Cryptocurrencies can be exciting, and the potential for high returns certainly adds to the thrill. Receive the latest news and stay informed. Ethereum price prediction has been made extraordinarily challenging around an event called “The Merge.

Recent Comments

Mining is not only an avenue where a person can make money in the cryptocurrency space, it is an important part in the running and ongoing success of certain cryptocurrencies – such as Bitcoin. Then, go through the terms and conditions, and privacy policy before accepting. These models determine how platforms generate revenue and reward users, traders, strategies, and signals. Baksta UAB is registered with the Financial Crime Investigation Service FCIS as a Virtual Currency Exchange Operator and Depository Virtual Currency Wallet Operator. Sign up with this link and then deposit the stipulated amount before the timer expires. Gold is an established and mature market for investable assets. Companies can ask for reviews via automatic invitations. This symbiotic relationship creates a win win scenario – strategy managers earn a percentage of the profits made by their followers, while followers enjoy passive profits without the need for hands on trading. PrimeXBT employs a straightforward fee structure with competitive trading fees and overnight fees. It operates on various blockchain platforms, including Ethereum and Tron, offering users flexibility and interoperability. You must also pay income tax on earned crypto such as staking, interest, or referral rewards. Withdrawal requests made before 12:00 UTC are processed on the same day, but requests made after 12:00 UTC can take up to 24 hours to process. Although the mobile app is user friendly, the order forms are complex and can be overwhelming for new traders. In return, users are not charged any fee to copy trades. During my testing, PrimeXBT performed well, executing trades instantly without any discrepancies in conditional order execution. Users can also customize the indicators in terms of the time frame and other important inputs. Transferring funds to the exchange does not cost anything, but you will pay a handsome 50 GBP or 50 EUR fee when withdrawing GBP or EUR funds, respectively. However, some training opportunities are available here. PrimeXBT PTY LTD previously Stack Advisory PTY Ltd is an authorized financial services provider in South Africa with license number 45697 having its registered address at 180 Lancaster Road, Gordons Bay, Western Cape, 7140, South Africa. Portfolio Clarity: PrimeXBT’s portfolio overview screen shows your total account balance and individual balances across trading, copy trading, and wallet accounts.

Worse

PrimeXBT also says it offers the renowned MetaTrader 5 platform, which is available via PXBT – a partner company of PrimeXBT. PrimeXBT operates in a wide range of global markets, offering its services to users in more than 150 countries around the world. After purchasing cryptocurrencies, they can then transfer them to their PrimeXBT account. Bybit also felt more modern, ergonomic, and was more aesthetically pleasing in my opinion and felt more akin to a crypto exchange. Bitvavo is a cryptocurrency broker based in Netherlands that launched its service in and offers individuals to buy and sell more than 85 cryptocurrencies. The overall list just features Bitcoin, Ethereum, Tether and USD Coin at the moment, but it’s enough to get you started. It’s one of the best places to go for trading bots and copy trading, but at times the platform navigation made me feel about as lost as the mad hatter wandering around Wonderland. Right now, there is nothing about Prime XBT that I dislike; everything functions well for me. Lastly, when it comes to withdrawals, PrimeXBT is one of the few exchanges that require a mandatory white labelling of Bitcoin addresses. Disclaimer: Our ranking system and methodology are designed to evaluate advanced trading platforms. 05% for cryptocurrencies is also lower than that of many comparable CFD brokers, emphasizing its cost efficiency in the competitive market. Ethereum traders can stay ahead of the markets by taking advantage of the available economic calendar and price charts. The United States of America US Reportable Persons. The content of this website is not intended for residents of the European Economic Area or the United Kingdom. At the time of writing, customers can only withdraw cryptocurrencies; there is no fiat off ramp available for fiat to bank withdrawals.