PrimeXBT is a cryptocurrency exchange, launched in 2018, a very young exchange but attracts a lot of investors around the world, evidenced by more than 3 year of operation. PrimeXBT has been served to customers in more than 150 countries. PrimeXBT's 24-hour average trading volume reached more than 300 million USD, an impressive figure.
As a cryptocurrency exchange, PrimeXBT also allows investors to trade forex and CFDs of commodities such as metals, energies and indices. That's why sometimes we can't classify this as a forex or a cryptocurrency exchange.
A special feature for this exchange to attract a lot of investors is that it allows trading cryptocurrencies with leverage up to 1: 100, a very large percentage on the cryptocurrency market.
Legally, PrimeXBT has not been licensed by any reputable authority, but PrimeXBT focuses on the security and safety of customers' accounts, so since its inception. Up to now, PrimeXBT has never been hacked and accused of fraud, but not so that investors are allowed to be subjective, safety issues must still be focused on.
Like other crypto exchanges, PrimeXBT also applies security methods to ensure the safety of customers' accounts, namely, some forms of security such as:
Although Primexbt has many security measures, it all depends on the users themselves, preserving the login information, not being disclosed, otherwise all forms of security of the exchange will become. meaningless.
The PrimeXBT trading platform offers many options which cannot be found on many Bitcoin-based exchanges.
The 100 lever cryptocurrency market is a leading service with 5 different assets to choose from.
The forex market increases this choice by 1000 times. Margins are very high and something is usually only found on unregulated forex platforms.
PrimeXBT also offers high profile indices for trading the SP500, FTSE100 and JAPAN, as well as commodities such as gold, natural gas, crude oil, silver and others.
All trading takes place on a seamless trading platform that offers custom widgets that consumers can use to design their commercial displays.
Covesting integrates directly with the trading platform and allows users to view and reflect on other proven trader's tactics.
PrimeXBT is an exchange with relatively low fees in the market, which is another reason that this floor attracts many young investors. Transaction fees are different for each market as well as each product.
Typically, crypto exchanges classify transaction fees according to maker or taker orders, but at PrimeXBT, transaction fees are common to all orders. In addition, PrimeXBT also applies an overnight fee for all transactions
PrimeXBT regulates minimum and maximum trading volume for each product
Depending on the asset you are trading, different limits apply.
The minimum order size is 0.01 BTC for the BTC / USD trading pair, but the minimum trade size is lower for the altcoin market.
The 0.01 BTC minimum is quite high. So if you just want to give this platform a try, I would recommend this for altcoin trading pairs. Many other exchanges allow you to trade their BTC / USD pair for as little as $ 1 or a few satoshis
The maximum number of individual trades is set at 100 BTC, and the maximum exposure is 150 BTC. So, you can use up to $ 1 million in trades if you want.
You can see the full list of Prime XBT limits here
PrimeXBT provides web and mobile application platform, supporting both iOS and Androi operating systems. The web platform is chosen by the majority of traders because chart analysis features are optimized for the best.
At the time of our review, the exchange experts are updating the Order Book feature on the platform, which is evidenced when the cryptocurrency trading platform does not have an Order Book, we have Contact the floor's support team and get a very quick and enthusiastic response, which is also a huge plus.
However, all transactions are still done normally, for the cryptocurrency market, investors can still trade with the order types offered on the exchange without the Order Book.
Web platform's interface is very easy to use, you can add or remove Widgets as you like. The web platform at Prime XBT provides both trading execution functions, account management, security settings, and deposit / withdrawal execution.
Some features on chart
PrimeXBT also supports some transaction services such as
Spread in forex trading: investors interested in forex trading will have to pay attention to the spreads of forex pairs as this is a second fee that investors will pay. for exchanges (the first is transaction fees). However, there is no need to worry too much as Prime XBT offers forex pairs with very low spreads due to high liquidity on the exchange (12 liquidity providers), EUR / USD with spreads as low as 0.1 pips, The other pair has spreads from 0.2 pips to 0.7 pips
The order processing time at the floor is very fast, the platform works very smoothly, it is easy to switch from one tab to the other without stalling or delay (of course, depends on the internet connection of the computer). But under normal conditions, the processing speed on this web platform is quite good.
PrimeXBT only allows depositing of BTC into the wallet and the exchange will automatically convert to other currencies or fiat money when trading. When withdrawing money, BTC can only be withdrawn to the investor's wallet.
PrimeXBT allows investors to deposit BTC into the wallet in 2 forms, one is to deposit directly from an existing wallet on another platform, the other is to buy BTC and pay with Visa / Master cards via Simplex channel.
Note: BTC withdrawals made before 12:00 UTC will be processed on the same day, after 12:00 UTC will move to the next working day. BTC withdrawal fee is 0.0005 BTC / 1 withdrawal.