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Review

PrimeXBT Review: Reasons To Trade In 2022

What you have heard is true: PrimeXBT’s constant expansion of features and assets has brought the total number of world-class trading instruments the platform offers to more than 100. After the latest listing, we had to find out for ourselves what else the rapidly growing margin trading platform had to offer. What we discovered, certainly didn’t disappoint. 

 

In this in-depth review, we are highlighting the best qualities that make PrimeXBT stand out amongst the sea of competition and detailing everything the platform offers currently. 

About PrimeXBT

PrimeXBT is a multi-asset margin trading platform with a list as large as 100 plus trading instruments ranging from forex currencies, crypto, stock indices, and commodities.  The company is also known for many other innovative features and is noted to be a one-stop-shop for savvy investors and traders who seek exposure to a large variety of assets under a single roof. 

Reputation 

A platform is first judged by its reputation among the community and PrimeXBT checks all the most important boxes. There is a large social presence with an active and engaged audience. Customers across social media and on Reddit all report positive feedback and no issues. The platform itself boasts as much as 99.9% uptime and no hacks have ever been reported. 

Accolades 

A hallmark of any respectable platform is some industry-related awards and accolades. PrimeXBT was honored with several different Forex Awards and is the recipient of the ADVFN award for Best Bitcoin Margin Trading platform. More awards could be on the way due to the company’s constant innovation. 

Registration 

Do you have around 60 seconds? Because that is all it takes for a time commitment to get an account set up. Registration only requires a few small steps and no personal details are necessary to begin. The platform passes on a normal KYC procedure in favor of client privacy. 

Deposits

Accepted currencies include BTC, ETH, USDT, USDC, and COV. Deposits are made to a secure cryptocurrency wallet address and funds are available after several blockchain confirmations. With a successful deposit made, a margin account can be funded or users can access many other features using the digital assets. There is no minimum on deposits. 

Withdrawals

Withdrawals are made once per day to bolster security. PrimeXBT utilizes a proprietary cold storage process keeping customer funds safe and protected. Compulsory address whitelisting is offered as another layer of preventative measure. Two-factor authentication can also help keep accounts safe and is another optional tool offered. 

Customer Service

No matter the time or place, you can always access PrimeXBT customer support. Live customer chat is available 24/7 from desktop or smartphone apps.  A dedicated account manager provides fully personalized services. 

Trading 

The platform executes orders with lightning speed and precision, with no discernible slippage to speak of. Traders can open long or short positions with leverage and add position modifications such as stop loss or take profit orders. There are also built-in charting tools and the user interface is fully customizable. 

Instruments 

More than 100+ total trading instruments are offered using a single account, providing 100 reasons right here to try the platform. The list includes all major forex currencies, minors, and exotics; hot commodities such as oil, gold, silver, and natural gas; popular stock indices such as the Dow Jones, S&P 500, FTSE, DAX, and more; plus cryptocurrencies like Bitcoin, Ethereum, Dogecoin, The Sandbox, Axie Infinity, and dozens  more. Fees are some of the lowest around and put other platforms to shame. 

Copy Trading 

PrimeXBT is home to the Covesting copy trading module. The tool is designed by a licensed European fintech developer of the same name. It connects followers with another type of trading account called a strategy manager. Followers can copy the trades of strategy managers and make money from more experienced traders. Both followers and strategy managers make a portion of the success fees generated from profitable copied trades. 

Yield Accounts

With any spare or idle funds, users can move their digital assets to APY-generating yield accounts. These accounts easily connect to popular DeFi applications that provide as much as 14% in variable interest depending on market demand and other factors. Yield accounts let users take advantage of the best rates DeFi has to offer, but without all the technical steps typically required. 

COV Token Integration

Thanks to the B2B partnership with Covesting, PrimeXBT supports the COV utility token. Integration began by unlocking utilities via special account memberships. Utilities include trading fee discounts for strategy managers and an improved profit share for Covesting followers. A recent update allows COV tokens to be used as collateral for margin trading and strategy manager accounts. 

Referral Program

Yield accounts are not the only way to earn passive income from PrimeXBT. There is also a four-level referral program that allows anyone to build a network of revenue-generating referrals.  Payouts are made daily and have amounted to millions in crypto paid to platform users who took advantage. The platform’s reputation, instruments, and tools speak for themselves and help keep referrals coming. 

PrimeXBT Academy

A new educational website was recently launched under the PrimeXBT banner. Resident expert trader Dirk Hartig helps run the show providing tips on trading, introductory videos, tutorials, and much more. All of this is offered entirely free to users of the platform. 

Contests

With new trading ideas in mind, users can try their skills or backtest strategies using only risk-free virtual funds in the Contests section of PrimeXBT. Users can also enter competitions to battle for prizes. New competitions are going live regularly, so be sure to check back regularly and see what the latest challenge might be. 

Summary

There is a lot to fall in love with when it comes to PrimeXBT. The award-winning trading platform offers best-in-class trading tools and the most popular assets today. The set of powerful tools and world-renowned list of instruments is always growing, giving users a reason to stay with the platform for the long haul. 

 

Privacy is also a major focus, as is security and reliability. Additional cryptocurrency-based services round out what are the most impressive features in finance today. Everything from copy trading to high APYs are accessible through the same account that lets you trade more than 100 trading pairs. 

 

The reasons to trade at PrimeXBT are abundant and although this review is exhaustive, we have still only scratched the surface of the value that is in store.

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