PrimeXBT Review

PrimeXBT is a crypto trading platform launched in 2019 which allows traders to take advantage of the ability to trade BTC and other cryptocurrencies with leverage.

They quickly became one of the biggest players in the margin-trading industry taking on major companies like BitMEX. The exchange aims to surpass the common problems of other platforms like long KYC approval processes and the low liquidity, unexpected downtime, and other problems trading on markets that are failing limited order types, high trading fees, and poor user experience.

PrimeXBT offers amazing leverage in a highly user-friendly interface, liquidity, and trading volumes on the crypto trading platform perfect to trade BTC and other cryptocurrencies.

PrimeXBT Leverage

Leverage is one of the many features for a crypto trading platform that advanced traders are looking for but most platforms offer limited leverage when it comes to trading crypto. PrimeXBT stands out by offering a 1:100 leverage which means that for each $1 you will get $100 worth of buying or selling power. This gives you access to a bigger marker position so you can make more profits or even losses once you trade BTC or other cryptos.

Leverage is one of the key features of PrimeXBT and among its main features with the website offering a detailed explanation of leverage on the websites to help those that don’t understand. This explanation includes an example with BTC/USD for example. The leverage feature is one of the key features among its main ones as the website also offers a detailed explanation of leverage on website to help those that don’t understand trading.

Let’s assume that BTC is $10,000 each and its price increased by 5 percent during your investment. If you were to use a traditional exchange with no leverage, you could trade BTC for $100,000. if the price went up by 5%, your BTC will be $10,500 each so if you sell them, you will make $5000 off your $100,000 investment. On the contrary, if you were to make the same trade on the exchange with a 1:100 leverage, you will only have to pay 1 percent of the $100,000 level which means the investment of $1000 upfront.

In the same situation, this means you will make $5000 but will have only invested $1000 so in other words, you will multiply your profits with the same amount of the initial capital. PrimeXBT explains some of the advantages of trading with leverage including the ability to magnify profits, gear opportunities, and the ability to gain the market falls. There’s also a convenient leverage calculator on PrimeXBT so you can figure out what is your buying power based on the available capital.

Keep in mind that while using leverage increases the potential reach of the funds and your potential profits it will rise the potential losses. You should be cautious when using the maximum leverage offered on PrimeXBT and with that being said, those with trading experience and confidence in the methods find leverage to be the right, useful tool.

Profiting From Market Movements

Since the crypto market doesn’t increase constantly, PrimeXBT offers methods of profiting whether the market is going up or down. You are able to trade any of the popular cryptocurrencies and hedge existing holdings or the profits from rallies or drops on the market. In other words, you can go long or short with PrimeXBT and buying is when you will go long while selling is when you go short. To go long, you will buy and trade BTC and watch the account increased in value while the price of BTC increases.

In this case, a drop in bitcoin’s price will drop the value that is in your account. You can go short which means you can open a position that will increase the value if the price goes down and then trade BTC. But you can also see specific examples with calculations for each of the types of trades on the platform. There’s also information on how to calculate your profits so you can understand what is going on in your account. To calculate the profits or losses, you will have to make a difference in the price points at opening and closing and then multiply the value by the size of the position. If you combine it with leverage, you will be able to increase your position size.

Trading

In addition to the ability to go long or short and to enjoy leverage, the PrimeXBT crypto trading platform stands out in a few ways. It has a very user-friendly interface that is customizable and includes support for multiple monitors. The trading platform is among the best on the market with safe, fast, and reliable features. It is simple enough for beginners to understand what they can do here and include the advanced tools that professional traders want.

The charting tools are quite useful with various chart types and range of drawing tools and indicators but also the option of trading right from the chart. PrimeXBT offers low trading fees and you will also notice straightforward and low commission rates so there are no surprises. You can also see the live trading platform and get a feel for how it works before you are even able to open an account. The preview version of the platform is similar to the real version with the only difference being the bottom section dubbed “positions.” if you have a live account, you can check up on the list of positions with columns for symbols, position IDs, time and date, size, price, take profit, stop loss and P/L.

Since the preview version isn’t associated with teh account, the section is blurred out and you can find options to log in or to register. Overall, the trading platform is what you can expect with similar trading pages that experienced traders use. On the top left side of the screen, you will be able to see a list of crypto pairs like LTC/USD, ETH/USD, BTC/USD, XRP/USD. For each, you can see the bid price, change, and ask price.

Clicking on the pairs will bring you a screen allowing you to buy or sell crypto. It will also display the prices for buying or selling as well as the low and high for the pair. Below this section, you will see the Order book. The Order book displays the information of the currency pairs and it is divided into sales and purchases. A nice touch of the Order book is that in addition to the list of the prices, it displays a virtual representation via graphs in green and red so you can see the current trends at a glance. The main section of the trading page is the chart that can be seen to the right of the crypto listings and order book taking up most of the page. The top left corner shows the trading pair as it represents.

Trading Charts

The default setting on the trading chart is a candlestick one. It is color-coded green and red with the prices on the vertical axis and time on the horizontal axis. You can hover over any specific date and time and see the price movements. There’s also a drop-down menu that allows you to change the intervals of the candlesticks. The default is 5 minutes but you can choose 1, 15, 30 minutes, or days and weeks. There’s also an option to switch from a candlestick chart to a line graph or a bar graph.

You will see the options about crosshairs as well can you can choose long or short and from the range of 12 indicators lines and tools to add. These include things like trend channels, trend lines, and Fibonacci rays among others. There are two methods of trading with PrimeXBT, clicking on a pair to the left of the page or use the section at the top left corner below the name of the pair.

PrimeXBT Fees & Limits

PrimeXBT charges two types of fees: overnight finance and trading. The borrowing cost for the financing is dependent on the liquidity of the underlying asset. If you open and close a leveraged position int the same day, you won’t become subject to overnight financing. The exposure limit is a restriction on the size of a position each client can maintain with the platform. PrimeXBT will not allow clients to place orders which will surpass this limit if executed.

The restriction is set by the PRimeXBT risk management department and depends on factors like volatility, instrument liquidity, and market conditions.

Conclusion

PrimeXBT created a solid offering in the overcrowded trading space. The crypto trading platform is simple to use and it stands out with its low commissions, tight spreads, and leverage. The exchange went on to boost its reputation in the industry over the years.