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PrimeXBT ReviewExchange
Withdrawal fee: 0.0005 BTC Taker fee: 0.02% Maker fee: 0.01% |
PrimeXBT is a multi-sector asset exchange and brokerage platform that provides many potential future and leverage options alongside its racks of blue-chip currencies for trade. PrimeXBT also boasts an integrated copy trading system so users can follow the positions of profitable investors and let them do the hard work. Over a million traders currently use the exchange, cementing it as a popular choice for crypto traders everywhere. If you’ve got your eye on using PrimeXBT, this review will delve into PrimeXBT’s offerings and explore what they do.
What is PrimeXBT?
An international exchange, PrimeXBT is owned by Prime Technology, based in the Republic of Seychelles – with services facilitated by Baksta, a Lithuanian technology company. The exchange is available both on Android and iOS and can be accessed using Google or Apple credentials.
PrimeXBT distinguishes itself from other exchanges by the range of assets offered. Alongside the usual cryptocurrency suspects, like Bitcoin, Ethereum, Solana, and more, PrimeXBT offers access to 100+ markets including Forex pairings, indices, gold, oil, industrial metals, and many, many more. It’s a great platform for traders who want to operate in diversified markets but don’t want the hassle of juggling positions across multiple exchanges. It markets itself as an ‘all-in-one’ platform and, in terms of multi-sector asset access, it succeeds.
PrimeXBT Fees
PrimeXBT has competitive fees for its futures exchange. For crypto, the maker fee is 0.01%, and the taker fee is 0.02%, but there is also a 0.05% fee for each open or closed position. No fees are charged for Forex, Indices or Commodities, however. There are overnight financing fees though, which are under 0.01% forex, and lower still for crypto at 0.05%.
Deposit and Withdrawal Methods
There is no fee for deposits. A user can deposit as little as $1 to get started. If depositing fiat to buy crypto, however, you can be charged extra by your bank or fiat gateway provider. Withdrawals, however, cost 0.0005 BTC. Withdrawals are BTC-only, but PrimeXBT enables users to deposit over 35 different fiat currencies, including USD, GBP, EUR, and AUD.
How to Create an Account
Users can download the app or visit the website to register and begin trading. After entering an email and creating a password, and accepting the terms and conditions, you will be sent a verification email. Once confirmed, you can start trading! PrimeXBT does not require mandatory KYC unless a user is withdrawing over $20,000 daily.
Multi-Sector Strategies and Copy Trading
PrimeXBT offers users access to a whole host of assets from many sectors, allowing for unique positioning in the market. This includes indices, oil, industrial metals, gold, currency pairings, and – of course – crypto. It’s a powerful way to connect crypto liquidity to the global futures market.
Users can see their entire portfolio in one easy place, including their exposure to CFDs, crypto futures, copy trades and their wallet.
Futures
PrimeXBT offers an advanced trading view for their crypto futures, allowing you to place market, limit and stop orders. The TradingView orderbook boasts all the standard features you’d expect from a crypto or traditional orderbook with a clean, simple interface. There are 39 crypto pairings currently, with more being added all the time. The majority of pairings are with USD.
CFDs
PrimeXBT’s standout feature is its impressive CFD market listings, allowing for users to engage in unique positions across multiple sectors in one place. Markets range from Aluminum to AVAX, all in one place.
Copy Trading
PrimeXBT also has a very healthy copy trading community that’s fully integrated into the exchange itself. Any user can simply click to copy any portfolio they like the look of and PrimeXBT will auto-allocate the position from there. There are 100s of premium investors on the platform.
PrimeXBT charges 20% on all copy trade fees, and the creator takes 20%, leaving end users with 60%. Fees for copy trading are rather high on the platform, but are representative of the success that PrimeXBT’s traders have.
Prime Candidate
PrimeXBT is a great exchange for traders who want to operate in multiple markets simultaneously. It’s geared towards experienced investors in terms of the depth and wealth of its futures and CFD options. Yet it does have a thriving peer to peer copy trade community, and helps teach newbies the ropes – albeit at a somewhat extensive cost. The fees for the exchange are good, however, and the asset variety is excellent. It lives up to its branding as an all-in-one marketplace for sophisticated traders.
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