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PrimeXBT Review 2023

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PrimeXBT is a leading cryptocurrency exchange and trading platform with more than a million users in over 150 countries worldwide.

Launched in 2018, it supports the trading of both traditional and crypto assets. Users can trade cryptocurrencies, most major stock indices, commodities, and foreign currencies. The best part is that it is designed to support traders of all levels, beginners and advanced.

PrimeXBT pros and cons

Pros

  • Allows users to trade crypto assets, stock indices, commodities, and foreign currencies.

  • Best suited for beginners and advanced traders.

  • Class-leading leverage of 1:100.

  • Low fees.

Cons

  • Not available in several countries, including US, Canada, and Japan.

  • No lending or staking services.

  • Few trading pairs.

## Features and services

PrimeXBT stands out with its features and products. Some notable ones include;

100x leverage

The exchange offers leverage of 1:100. For every $1, a user gets $100 worth of buying and selling power. This enables them to make even more profits or losses.

Leverage, or margin trading, is a method that involves using borrowed funds to increase your trading position. It enables you to trade and profit using larger asset amounts than in your personal account.

Multi-level referral program

PrimeXBT has a referral program allowing users to receive rewards for direct referrals they bring and their referrals. The program increases users' passive income from fees paid by the referral network they build.

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Advanced technical analysis tools

PrimeXBT exchange’s technical analysis platform runs on TradingView, a social network for traders. It offers advanced charting tools, technical indicators, and social networking features that help traders and investors spot opportunities across global markets.

The PrimeXBT technical analysis platform is preloaded with hundreds of popular indicators, like strength index and moving averages, more than 50 intelligent drawing tools, and educational resources.

Copy-trading

It is the act of copying another trader’s (usually a top trader) trading activity in the hopes of succeeding when they do.

The feature is available on the “Covesting" section of the platform. In the "Rating" tab are hundreds of trading strategies provided by other traders that users can copy.

Users can choose to use the "Filter" icon to quickly find strategies that best suit their desired risk and reward ratio.

Trading and gaining from your following

The feature allows traders to earn additionally from their followers if they gain a following and perform successful trades. The more followers they have, the more money they can make.

Turbo

Turbo allows traders to enter trades with a short duration, resulting in the fastest track toward profits. Users can earn more than 70% return on their investments in minutes.

The feature simplifies trading and allows for lightning-speed profit generation. It creates opportunities for profit at previously impossible speeds.

Fees

PrimeXBT exchange features a simple fee structure. There are two types of fees: trading and overnight financing. A trading fee is charged anytime a trader opens or closes a position. It is a percentage of the transaction amount. PrimeXBT charges:

  • 05% for cryptocurrencies.

  • 0% for indices and commodities.

  • 0% for forex.

Overnight finance is charged whenever a leverage position is carried into a new trading day. The fee is a percentage of an open trade, usually in the range of 0.00277% to 0.1389%, based on the type of trade.

There are no fees for account deposits. The withdrawal fee is a flat fee, whatever the amount of the asset being withdrawn. For example, the standard fee to cover Bitcoin transaction cost is 0.0005BTC.

It is worth noting that fees are subject to change based on market conditions.

Is PrimeXBT safe?

PrimeXBT has an extensive, multi-layered cybersecurity framework that provides its users with the highest level of security. It also runs random stress tests and security audits to ensure its network stays secure.

Its specific security measures include:

  • Two-factor authentication preventing unauthorized access to users’ accounts.

  • Encrypted secure sockets layer (SSL) that encodes and protects website traffic.

  • Password encryption is with the bcrypt hashing function.

  • Cloudflare to avert possible distributed denial-of-service (DDoS) attacks.

Withdrawal address whitelisting, which helps prevent transfers to unauthorized wallets.

The exchange environment is hosted on AWS (Amazon Web Services), with its proven industry-leading digital and physical security track record.

It is also worth noting that ever since its inception, the exchange has never been hacked.

Conclusion

PrimeXBT is an easy-to-use platform with features, low fees, and leading leverage of 1:100. It is one of the best exchanges for traders looking to trade leveraged cryptocurrency instruments on an exchange that is transparent with relatively advanced technology and super secure.

It is worth noting that the exchange is not available in 14 countries, including the US, Canada, Japan, Russia, Israel, and Iran.

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Author: Jay Jackson

Author: Jay Jackson

Jay Jackson is a crypto trader, researcher and freelance writer. He works closely with people and businesses in the crypto sphere, writing blog posts, guides, press releases, reviews and ebooks.

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