PrimeXBT Platform Review

May 20, 2020

There is fierce competition throughout the cryptocurrency market when it comes to the battle between top trading platforms. The trend has also leaned heavily toward margin trading platforms, as using leverage has become all the rage with cryptocurrency traders, seeking to maximize profit opportunities across speculative assets.

PrimeXBT is one of those margin trading platforms, but it boasts some unique features that others in the market simply cannot compare to. This platform review aims to educate the reader on if PrimeXBT is worth signing up for, and how to get started once a decision is made.

Platform Benefits

PrimeXBT is an ADVFN award-winning Bitcoin-based margin trading platform offering up to 1000x leverage on commodities, stock indices, forex, and cryptocurrencies.

Here are the platform’s primary benefits and features:

Fast registration with no KYC
Low minimum deposits, and low minimum position size requirements
Easy withdrawals, with address whitelisting and bank-grade security
Long and short positions, even simultaneously for hedge positions
Built-in technical analysis software, with key indicators
1000x leverage on forex, gold, and silver; 100x on crypto, stock indices, commodities
Advanced order types such as stop loss and take profit orders
Additional revenue streams, such as a referral program and CPA offers
24/7 live customer service
Powerful security and reliable trading engine
Innovative tools to separate platform from competition

Based on these factors, it is recommended users give PrimeXBT a try, due to the ease of registration and the availability of free demo accounts and educational materials. It is an ideal platform for new users, for this reason, but advanced trading tools keep things interesting and satisfying for professional traders.

Here is a full platform overview and a review of each individual component of the platform and user experience.

Registration

Few platforms provide as simple of a signup process as PrimeXBT. In less than one minute and no personal information beyond an email address and country, users can get started with making their first deposit.

The only steps required are entering a username and password, then confirming your email address.

Deposits

Accounts are denominated in BTC, and all deposits must be made to a BTC address. A low minimum deposit of 0.001 BTC is required.

Funds are made available after a Bitcoin deposit is confirmed. Additional deposit methods are available through a third-party service called Changelly.

Once the deposit is made, the trading account must be funded. This is a helpful tool to keep some capital separated from what is currently available for margin in the trading account.

Withdrawals

Withdrawals are equally simple, but remember to only send to another BTC address. Sending to a different cryptocurrency address could lead to a loss of funds.

Withdrawals are added to a queue for a once-a-day rollover period at which withdrawals are processed. Pending withdrawals can be canceled until a window ahead of rollover is reached.

Trading

The trading terminal can be customized to the trader’s liking, with a variety of widgets. These include watch lists, and charts with built-in technical analysis software and many top trading indicators, such as Ichimoku, RSI, Parabolic SAR, and many more.

Long and short positions let traders profit from whichever the way the market turns, and both types can be open at once for hedge positions.

Orders executive quickly with minimal slippage, and the trading engine has reliable uptime of as much as 99.9%.

Stop loss and take profit orders assist traders in minimizing risk and maximizing profit potential.

Assets

Over 50 unique asset markets are offered by PrimeXBT with up to 1000x leverage. This includes:

Cryptocurrencies such as Bitcoin, Ethereum, and Ripple.
CFDs for major stock indices like the S&P 500, ASX 200, or the DAX 30.
The world’s most popular forex currency trading pairs across USD, JPY, AUD, and many more.
Commodities natural gas, Brent and WTI Crude oil.
Precious metals gold and silver.

The variety provides more opportunities to profit than most other competitors and offers unrivaled portfolio diversification. Right now, traditional markets are especially attractive for traders, making PrimeXBT an exceptional value proposition.

Referral Program

The top PrimeXBT trader has already generated over 50 BTC alone, according to the leaderboard.

This was achieved through the platform’s lucrative four-level referral program. As each referred trader brings new traders to the platform themselves, the original client to make the first referral will continue to earn commissions from each new referral forward, up to four levels of commissions.

CPA offers are also available, as are exclusive ambassador relationships, complete with personal customer care representatives.

Customer Service

24/7 live customer service is available via online chat, who are ready to assist with any issue or provide assistance with using the platform.

A help center is also offered and the company provides regular updates, guides, and more through the company blog. Further assistance is often provided via official social media accounts.

Security

The website itself is encrypted and uses Cloudflare technology to prevent DDoS attacks or other disruptions.

Address whitelisting is enabled on withdrawals, and two-factor authentication can further secure accounts.

The best security measure of all, however, is the fact no personal info is ever required.

Turbo

PrimeXBT recently launched a separate platform for short duration, synthetic Bitcoin contracts. Traders can simply choose from an UP or DOWN contract, then when the duration of 30 seconds, one minute, or five minutes passes, either a profit or loss is booked.

This tool is especially interesting for when markets are lacking a defined trend, and are tightly ranging.

Summary

PrimeXBT took home several awards recently, including the ADVFN award for Best Bitcoin Margin Trading Platform.

With so many profitable tools to choose from, fast registration, and the widest variety of traditional and digital assets, PrimeXBT can help provide traders with an edge that few others can offer.