The simple-to-use and highly customizable user interface make PrimeXBT the perfect platform choice for beginners and professionals alike.
Based in Seychelles, it is open to all traders across the globe. Registration is free, demo accounts are offered, and features low minimum deposits. Long and short positions are offered on all of the over 30 individual assets across forex, stock indices, commodities, and cryptocurrencies.
Very few platforms offer both digital and traditional assets side by side, nor do any platforms offer this much of a variety and opportunity for portfolio diversification. This review aims to outline all of the available assets, trading tools, provide an overview of the platform, and more. In the end, using this information you can decide if signing up is right for you.
After discovering the variety of assets listed on PrimeXBT, it immediately became the focal point of the review. So few platforms out there offer both traditional and digital assets on the same platform, let alone such an extensive variety of instruments. And because traditional markets are so attractive right now, offering all of these assets under one roof is incredibly valuable.
First, the variety is just incredible. Over 30 assets across forex, stock indices, commodities, and cryptocurrencies. Over 25 of the major forex currency trading pairs. 5 of the most important cryptocurrencies. Many different commodities and a dozen of the globe’s most important stock indexes.
Here is the full list of trading instruments:
BTC/USD, ETH/USD, ETH/BTC, LTC/USD, LTC/BTC, XRP/USD, XRP/BTC, EOS/USD, EOS/BTC
AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NZD, EUR/SGD, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD, GBP/SGD, GBP/USD, NZD/CAD, NZD/CHF, NZD/JPY, NZD/SGD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/RUB, USD/SGD, USD/TRY
BRENT, CRUDE, NAT.GAS,
DOWJ, EUR50, FRANCE, GER30, SP500, SPAIN, NASDAQ, HK-HSI, AUS200, JAPAN, UK100
Traders should always look to find a trading platform that offers a wide variety of trading instruments, both offering a variety of profit opportunities but also to provide the best possible portfolio diversification.
Spreading capital across many different assets for a well-diversified trading portfolio has been statistically shown to reduce risk and increase return on investment. This works by including instruments that are anti-correlated or uncorrelated, so no opportunities are missed and prevent unusual fluctuations due to one specific asset or asset class over or underperforming.
Deposits and Withdrawals
Making a deposit is easy, and the smallest possible deposit allowed is just 0.001 BTC. Bitcoin is deposited to a BTC address and wallet from external accounts, or by using a third-party module and service called Changelly.
After completing the steps in the Changelly widget, you can transfer the newly deposited BTC to your trading account and start trading.
To begin trading, simply go to the Account section after your deposit has been confirmed, and transfer the deposited BTC from your wallet to your trading account using an internal account transfer. The same wallet can also transfer BTC to a Turbo account, but more on that later in the review.
Once your trading account has been funded, click on the Trade section to launch the trading terminal and start taking advantage of the platform’s cutting edge trading tools.
Withdrawing funds also requires an internal transfer. Traders must first make an internal transfer from their trading account back to the personal wallet in the Account section. Click on Withdraw and enter the wallet address and amount you would like to withdraw.
Remember to add the BTC address to your list of whitelisted addresses before attempting to send funds. BTC may only be sent to a whitelisted BTC address. Whitelisted addresses must be confirmed via email before being added for additional protection and security.
Withdrawals are made once a day during a specified rollover period and may be canceled before the rollover period commences.
Trading Fees and Conditions
Fees are highly competitive and as low as 0.001%. Most markets are open just about 24 hours, Monday through Friday, and cryptocurrencies trade around the clock and even on weekends. This is yet another reason why traditional asset traders should consider crypto as much as crypto traders should consider traditional markets – there is money to be made even on the weekends.
Traders can work toward lowering their fee impact and save more capital through a progressive fee discount system. Traders with 300 BTC trading turnover up to 600 BTC turnover, get 25% off, while those with over 600 BTC turnover are offered 50% savings.
Trading Engine and Platform
The engine is reliable, offering quick order execution and up to 99.9% uptime with few outages ever reported. Users report stable conditions during volatile market phases.
The user interface is customizable and has tons of visual appeal. An intricate help center is filled brimming with helpful guides and tips.
The website is secured and passwords are encrypted. Bank-grade security protects all user accounts. Additional protections through email confirmations, two-factor authentication, and address whitelist further keep funds safe.
The primary tool promoted by PrimeXBT is leverage. To explain how this works in simple to understand terms, a $100 position with 100x leverage becomes as powerful and as profitable as a $10,000 position or a 0.01 BTC positron becomes 1 BTC.
Leverage is offered at up to 1000x for forex currencies, and up to 100x on the rest of the assets on the platform including stock indexes, cryptocurrencies, and commodities.
Long and short positions are offered, even at the same exact time. Stop-loss or take profit orders can be added at the time an order is placed or afterward, and can even be edited after being placed.
Orders can be placed in the trading terminal, or on the chart itself. Charting software is provided on the platform for technical analysis and planning. This ensures traders are equipped with all the analytical tools necessary to win.
PrimeXBT is one of the few safe platforms out there that offers a variety of traditional assets and cryptocurrencies. In addition, the fee structure is highly desirable and the trading tools provided enable profits to be booked on a regular basis.
The security is strong, and privacy is a major focus for the platform that doesn’t require any personal info or a KYC process. Due to this, signing up is extremely fast – another bonus factor.
In addition to everything covered in the review, the platform regularly adds new instruments, has received a number of awards recently and has live 24/7 customer service.
PrimeXBT is highly recommended for any trader at any experience level.