PrimeXBT Review – Margin Trading FAQ

The platform has cool features like one click trading execution and double click trading. Therefore, we’ve decided not to include our usual rankings for PrimeXBT in www.primexbt.com this review. I have my emails and will post online for future people to see. To transfer Crypto to your trading account,. PrimeXBT offers a range of assets, including cryptocurrencies, forex, commodities, and indices, each with its own fee structure. Once you feel you have the right strategy, it is time to test it out and tweak where applicable. Immerse yourself in the thrilling journey of cryptocurrency trading with PrimeXBT, where acquiring coins or tokens means securing a slice of digital assets like Bitcoin. A New York state business, was shut down by the U.

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The content of this website is not intended for residents of the European Union, the wider European Economic Area, or the United Kingdom. These barriers will then lead a trader in decision making. But the perks of trading here are not limited to that, such as leverage crypto trading, incredibly low fees, reasonable deposit requirement, no KYC policy and much more. PrimeXBT does not accept clients from the jurisdictions listed in the Restricted Jurisdictions List. PrimeXBT supports deposits and withdrawals in popular cryptocurrencies such as BTC, COV, ETH, USDC, and USDT. Really good execution. Before you settle on the best strategy that works for you, ensure that you understand the market trends and consider factors such as regulations in the country where you are based. With traditional trading, you’d purchase what your budget allows. Users of the crypto exchange can receive various bonuses and take part in contests and promotions with cash prizes. Binance is a cryptocurrency broker based in China that launched its service in and offers individuals to buy and sell more than 86 cryptocurrencies. These products may not be suitable for all investors. However, there is a daily limit of $20,000 or equivalent, unless you’re KYC verified. PrimeXBT does not offer any information about Proof of Reserves PoR for customer deposits. Blog articles on the project website. Unlike OKX and the other crypto exchanges we’ve covered previously, PrimeXBT is a CFD exchange, where the buyer pays the difference between the current value of an asset and its value when the contract was made. Virtual Assets are volatile and their value may fluctuate, which can lead to potential gains or significant losses. For withdrawal fees, opting for crypto withdrawals over the TRC20 network is more cost effective than fiat withdrawals. PrimeXBT offers the following deposit and withdrawal methods, with the corresponding fees. This minimized my losses and still only cost 0. We do not solicit clients residing in the above regions and only accept clients that register at their own initiative. According to the standard affiliate program, you can receive up to 70% of the commissions of each referral, depending on the volume of his trades. We’re always here to help. It’s all about giving users tools and chances to make their trading better. Plus, there is a wallet, like a united hub for you money, a safe haven for them, it’s awesome too.

Comparing PrimeXBT to Other Platforms

It has a user friendly interface that makes trading smooth and easy. Paybis: Bitcoin Wallet, Crypto. Out of 177 reviews, 59% gave PrimeXBT a 5 star rating, showing high satisfaction. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. 306038128, having its registered office at Eisiskiu Sodu 18 oji street 11, Vilnius, Lithuania. There are other widgets that you can add, such as order history, order books, alerts, symbol library, account widgets, statement widgets, and many others. Here are some options you may consider. It offers up to 125x leverage for BTC trading and has over 700 digital currencies for spot trading. Not everyone has an answer for what Bitcoin does and why it moves when it does, but with some research you can start to understand a little more what impacts it. The group responds quickly to inquiries and makes an effort to do so. Positions closed before the start of a new trading day 00:00 UTC will not be charged at all. Just remember that you’ll probably have to use a third party payment service if you want to deposit with these traditional payment methods. Congrats, you’ve been granted an access to the exclusive Crypto 101 Handbook. Unlike copy trading, mirror trading involves copying a specific trading strategy that often comes in the form of automated trading algorithms. Looking at PrimeXBT X statistics, it’s clear that the brand has 492,170 followers, which is considered to be a quite average follower base. Daily withdrawal limits on PrimeXBT depend on whether you have a verified account. In the era of specialisation and diversification, one specialist can easily learn from another. The ETH price is currently around $2,400 and still has not broken its ATH from the 2021 bull run. Reply from PrimeXBT Copy Trading. Users can also customize the indicators in terms of the time frame and other important inputs. Technical analysis is critical to determining a buy price at which to enter and a sell price at which to exit. Though on the flip side, being an unregulated broker means you need to place a lot more trust in the company and are depositing funds at your own risk. Returns or profits may be subject to capital gains tax.

PrimeXBT Features

This option is designed to make the platform accessible, allowing you to begin trading with a relatively small amount of capital. PrimeXBT is not available for users located in the USA, there is no « PrimeXBT USA » option as there is with other platforms like eToro or Binance. However, given certain regulations, there are some countries that they do not accept traders from. Select your withdrawal address if it’s your first time, you’ll have to click the ‘+’ button to enter a new withdrawal address. 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. However, the platform lacks spot, margin, bot, social, or P2P trading, which may be a dealbreaker. In comparison, exchanges like Binance require only one confirmation for deposits using the TRC20 network. This gives you an in depth overview of the operational status of the trading engine, deposits/withdrawals and website.

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None of the forex brokers and a few crypto exchanges can offer you that. With over a million users across 150 countries, PrimeXBT offers low fees, advanced tools, copy trading, and top notch security. Download our award winning app for Android or iOS, open your PrimeXBT account in minutes, and start trading 100+ markets on the go with as little as $5. The corporate structure of PrimeXBT is somewhat unclear, as the platform consists of various companies registered in different locations, each providing different services. PrimeXBT does not accept clients from the jurisdictions listed in the Restricted Jurisdictions List. ” The reason for phrasing the question like that is that it’s almost impossible to trade Ethereum from a short term standpoint 2024 may be very volatile due to the price rally towards the end of the year and the beginning of the next. The fiat withdrawal process was straightforward but took a long time. It displays the latest actual price of the coin, the maximum price for the day, the minimum for the day, the trading volume, and the prevailing trend: upward or downward. Naturally, the restrictions on both isolated and cross margin futures may be frustrating for some users. Banks work as market makers, offering a price to buy a particular currency pair, and a quote price to sell that pair. While some of the top cryptocurrency exchanges are, indeed, based in the United States i. Before engaging with this website and the services made available through it, you should read all relevant Terms and Conditions, policies, and accompanying documentation which govern the Terms of Use of all PrimeXBT products and services. As a Strategy Manager, showcase your expertise by creating a visible pool of assets that others can follow. Most crypto assets stored by the exchange are kept in cold storage i. Information in articles published by guest authors does not go through fact checking procedures, so we kindly advise you to do your own research. For more information, see the developer’s privacy policy. It conducts independent security audits and offers a bug bounty program to identify and address vulnerabilities. It takes just a few minutes to get started. However, there are certain jurisdictions where our services are restricted. Walletinvestor’s ETH future prices pattern looks to be in a rally, and Walletinvestor’s seems to project this rally to continue into 2024 breaking through the $2000 level twice in the year, with a slight cooling of the price moving into 2025. Scan this code to download app.

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PrimeXBT turbo is a fascinating feature where you can earn more than 70% return on your investment in minutes. Her educational initiatives and proprietary trading curriculum have helped shape a new generation of analysts. Risk Warning: Trading in leveraged products carries a high level of risk and may not be suitable for all investors. Want to buy Bitcoin outright or trade CFDs on Gold or EUR/USD. Let’s delve into illustrative examples of successful leverage trades and cautionary tales to gain valuable insights. PrimeXBT reserves the right at any time to conduct a verification of a client’s identity or source of funds, known as Customer Due Diligence CDD, to ensure that PrimeXBT services are not abused and the user does not violate AML requirements. Following Bitcoin’s boom, altcoin season set in and Ripple prices rose 84 per cent in a day from $0. Staking or rewards program: Not available in the U. The main reasons are its high leverage, variety of assets, easy interface, and special features like copy trading and contests. When trading on margin, it’s important to fully understand the risks and benefits of leverage and to actively control your risk levels. This means that there is a high level of liquidity, so your transactions are made quickly, helping you avoid the risk of slippage this happens when you open a trade, but it is not immediately executed and can result in losses and many daily opportunities. Traders can compete, win prizes, and improve their skills. That depends on the trader’s strategy and financial goals. 1st Floor, Meridian Place, Choc Estate, Castries, Saint Lucia. One downside is that you can’t rearrange or resize the modules like you can on exchanges like Kraken and Binance. When looking for such solutions, newbies might be curious: what is the best copy trading platform. All the content on BitDegree. The exchange does not charge traditional trading fees; instead, it uses a fee structure based on trading volume and liquidity, starting from 0. I also tested the fiat withdrawal process, using Volet. PrimeXBT does not complicate things by offering several account types. PrimeXBT has one of the fastest signup processes, allowing users to register using an email address, Google account, or Apple account. This makes it a versatile choice for traders seeking diverse opportunities. Excessive overnight fees make it challenging for swing traders andlong term investors to achieve consistent returns. They have many ways to get help, like a big Help Center, a blog, and social media. A trader can use such a trend to profit through short selling Bitcoin.

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Despite this, the optional KYC feature makes the platform ideal for users who prefer to remain anonymous and avoid sharing personal data with exchanges. There is a long list of strategies traders and investors use. When you look at the benefits of margin trading, you should be aware that they can offer significant gains over what would normally be the case, but at the same time, if you are not careful with the amount of margin that you take out, you may find yourself on the losing end of a much bigger than anticipated trade. PrimeXBT does not accept clients from the jurisdictions listed in the Restricted Jurisdictions List. Unlimited for verified users. 306038128, having its registered office at Eisiskiu Sodu 18 oji street 11, Vilnius, Lithuania. Date of experience: November 14, 2024. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. However, it isn’t as volatile as many of its counterparts and has much interest in it, so this tends to lend a bit of stability to this market. What does the future of Litecoin look like. Past performance of a PrimeXBT trader is not a reliable indicator of his/her future performance.

Restricted Jurisdictions

Traders can also trade Commodities and Indices via Contracts for Difference CFDs. 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. However, with 5x leverage and a $1,000 investment, you could control a $5,000 position. Crypto enthusiast since 2020. The most trusted, regulated, institutional grade crypto trading platform on the market. PrimeXBT platform interface consists of 5 main sections. In terms of security, PrimeXBT takes extensive measures to protect customer funds, including keeping most funds in cold storage offline, using multi signature access, and conducting regular security audits. Next, we will delve into the mechanics of leverage on PrimeXBT. Thank you for choosing PrimeXBT. 1% per trade, which can be reduced with higher trading volumes and BNB usage. Understanding the fee structure is crucial for managing trading costs and optimizing profitability. Scan the QR code with your device’s camera and get APK file. Technology, Information and Internet. Services related to cryptocurrencies buying, selling, exchanging are provided by Baksta UAB, which is registered in Lithuania. It feels like a form of ‘legal’ theft. To evaluate the quality of customer services for diverse user needs, we created a unique trading test. Fees vary depending on purchase type. Do not submit petty or hyperbolic meta posts to stir up drama in the community. Amplified Profits allow you to control larger positions with a smaller initial investment, potentially increasing your gains if the trade is successful. Maker fees are charged when you add liquidity to the order book with limit orders, while taker fees are charged when you remove liquidity with market orders. It’s unusual and unclear why PrimeXBT would choose to offer so few options. The platform offers high leverage, enabling various trading strategies, all supported by an advanced platform with TradingView integration for in depth technical analysis. 3 billion fine for failing to comply with AML regulations.

Bot, Social and Copy Traders: Perfect Match

Some users also dislike KYC because of government oversight, regulatory burdens, or a desire to engage in decentralized finance DeFi without traditional verification processes. You will see a message stating that you agree to the processing of your personal data in accordance with the regulations of the exchange. Compensation Fund per user. This shows PrimeXBT cares about being safe and following financial regulation. However, this trade off comes with the ability to customize your leverage in a way that cross margin futures trading does not offer. 5% spread has now become $110 loss to match the 5. Start by visiting the PrimeXBT website and clicking on the “Register” button. Before making financial investment decisions, do consult your financial advisor. These risks encompass the possibility of basing your trading decisions on the activities of traders who may lack experience or knowledge, or those whose goals, intentions, or financial conditions may not align with your own. Wallets: Balances in US dollars and Cryptos are viewable on the Main page.

Financial Services Authority of Seychelles FSA

The ICO smart contracts were hacked, and 66% of the funds raised during the event were frozen. Fees such as regulatory fees, transaction fees, fund expenses, brokerage commissions and services fees may apply to your brokerage account. Examples of PII whether about yourself or someone else, can include amount of coins owned, income, taxes owed, addresses, phone numbers etc. In terms of its 39 crypto trading pairs, USD and BTC are the only options for base assets. Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters. PrimeXBT offers mobile apps for both iOS and Android, enabling you to trade on the go with the same functionality as the desktop platform. PrimeXBT offers a fixed commission rate of 50% of referrals’ profit share. Next, we will delve into the details of PrimeXBT’s headquarters and global operations. 1st Floor, Meridian Place, Choc Estate, Castries, Saint Lucia. 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. Founded in 2018, PrimeXBT is a futures and CFD trading platform serving over a million users in more than 150 countries. Yet, even the most reluctant crypto firms had to introduce KYC measures due to the growing pressure and penalization from authorities, such as the Financial Action Task Force FATF. You will receive the ownership rights to the digital currency you buy through an exchange. Interested in learning more. Gemini is a cryptocurrency exchange founded in 2014 by the Winklevoss twins. IdMoreover, e wallets have influenced spending habits by offering various incentives such as discounts, cashback, and loyalty points.

Best Bitcoin and Crypto Wallet

PrimeXBT also offers big rewards, like a $200 bonus for a $1,000 deposit, a $100 welcome bonus for $500, and a $1,000 reward for over $5,000 deposits. This website is owned by Prime Technology Ltd, a company registered in the Republic of Seychelles, with Registration No. One of its most significant benefits will be pulling information from outside of the blockchain for users to implement. Clicking this will allow you to choose how much of that cryptocurrency you want to transfer to your futures account. 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. Unlike physical cash, a cryptocurrency is a virtual asset, and it can be used as a medium of exchange, just like traditional fiat. Customer service is none existence and takes 3 weeks to get back to you and that’s with constant chasing. Leverage allows traders to control larger positions with a smaller amount of capital, potentially amplifying profits. Leadership: There is no information available online about the founder or current leadership of PrimeXBT, which is both disappointing and concerning. Our goal is to provide a comprehensive trading environment that caters to various trading preferences and strategies. Ethereum is also said to one day replace Wall Street’s aging back end, and already some bonds and business transactions have been tokenized into smart contracts on the Ethereum blockchain. Its broad asset diversity attracts both new and experienced traders. With a fully fledged copy trading service, a low PrimeXBT copy trading minimum deposit, and a dashboard with precise controls, it is prevalent in my PrimeXBT Crypto Futures review that this is a serious crypto platform. It all begins with buying and holding. While PrimeXBT has maintained a strong security record with no history of hacks, the platform’s limited transparency regarding customer funds and leadership structure raises some concerns. Past performance of a PrimeXBT trader is not a reliable indicator of his/her future performance. Step 2 – Select the Become a Partner option. Our 24/7 support team here to help. Trade Execution: One Click trading can be enabled to expedite the buying and selling process, eliminating the need to confirm each trade.

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Attend exclusive PrimeXBT events, network with other clients and learn new skills. Don’t trade against the trend. Asset coverage is one of the more impressive aspects of the PrimeXBT trading platform. The platform provides CFDs for forex, indices, commodities, and cryptocurrencies, but this review focuses on Crypto Futures. 2013/099697/07, having its registered address at 180 Lancaster Road, Gordons Bay, Western Cape, 7140, South Africa. Review collected by and hosted on G2. This can amplify your potential profits, but also magnifies potential losses. A call option in Bitcoin is a contract that gives the option buyer or holder the right, but not the obligation, to buy Bitcoin as a specified price. 54% change over the current price. Diversification protects you from Crypto specific volatility. CFDs, or Contracts for Difference, are financial derivatives that allow traders to speculate on the price movements of various assets without actually owning the underlying asset; it’s more of a contract with a broker to exchange the difference in the value of an asset from the time the contract is opened to when it is closed. Big traders often place large orders around important psychological price levels, such as $1,000, $10,000 or $50,000. We shall delve deeper, just give us a few seconds. Just keep in mind, being flexible is just as important as being disciplined when trading. PrimeXBT delivered a seamless trading experience. PrimeXBT is a crypto exchange based out of the Seychelles, it’s one of the few exchanges out there which has their company registration there along with other prominent names such as Huobi and BitMEX. This website is owned by Stack Advisory PTY LTD, a company registered in South Africa, with registration No. Some brokers charge commissions on CFDs on top of spreads. After testing PrimeXBT, it’s clear that this platform is designed more for seasoned traders than beginners. Here’s a note picked off from the website describing PrimeXBT’s approach to safety and security of users’ funds on the platform. PrimeXBT’s advanced tools include TradingView integration, a proprietary order book, and advanced charting for informed trading decisions. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information, or with respect to any of the content presented within its website, nor its editorial choices. Positions closed before the start of a new trading day 00:00 UTC are not charged. Perfect Money Account ID used to make a deposit will be preselected automatically. Earn passive income not only from your direct referrals but also from their referrals up to four levels deep. To start covesting on PrimeXBT, follow these simple steps.

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The volatile nature of the Cryptocurrency market often makes it highly unpredictable. Despite this, the optional KYC feature makes the platform ideal for users who prefer to remain anonymous and avoid sharing personal data with exchanges. Indeed, I have an experience of working on various crypto exchange platforms, but primexbt somehow managed to eclipse others for me. These products are not suitable for all investors. These classifications are not mutually exclusive, and many Stocks can belong to more than one category. Unlimited via Perfect Money. This allows traders to benefit from bigger gains, but also can lead to bigger losses. As your trading volume increases, you become eligible for lower fee rates. In the next section, we will explore the specific countries where PrimeXBT is supported. Switching markets and searching trading pairs on PrimeXBT is straightforward. These security features collectively ensure that PrimeXBT provides a secure trading environment, helping to protect users’ funds and personal information against potential threats. Since PrimeXBT is what we call a multi broker they offer different products, such as cryptocurrencies, forex, stock indices, and commodities.

Most Secure Wallets To Start With

Get a closer look and plan your entry and exit points. Specifically, the price for each of these instruments is calculated using a weighted average between the 1st and 2nd month Future Contracts. Getting started with PrimeXBT is quick and hassle free. Establishment: PrimeXBT was founded in 2018 and registered as Prime XBT Trading Services Ltd. Utilizing leverage in PrimeXBT can offer numerous advantages, particularly for traders looking to maximize their returns. Increasing your withdrawal limits requires completing the account verification process. Available margin can be increased at any time by closing any position and/or transferring more funds to your Trading account. If you do not understand the risks involved, or if you have any questions regarding the PrimeXBT products, you should seek independent financial and/or legal advice if necessary. We’ll put it to the test, with verification successful while waiting for the outcome. PrimeXBT only processes withdrawals between 12:00 and 14:00 UTC. If you’re new to crypto, spot trading, or DCA investing, PrimeXBT might not be the best fit due to its focus on advanced features like high leverage and CFDs, with limited fiat deposit options and no spot trading. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies.

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For the readers of The Money Mongers, PrimeXBT is offering a deposit bonus promo code of 35%. 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. It is designed to appeal to both high frequency traders and those making occasional trades. In April 2014, the company began liquidation proceedings. Market trends and news can have a significant impact on the value of asset classes. It has gained popularity for its crypto margin trading capabilities. Com: Best overall user experience. Technical analysis is based on the theory that history will repeat itself in terms of prices and the market trend.