PrimeXBT: The biggest brokers you’ve never heard of

Seek independent advice if you have questions or do not fully understand the risks. There are a host of benefits when it comes to margin trading, not the least of which would be the ability to trade in much bigger positions than would normally be the case. It would not be an exaggeration to say that the Know Your Customer definition refers to one of the biggest regulatory hurdles in the history of crypto exchanges. The platform can be a profitable tool for buying and selling cryptocurrencies, as well as for fast cryptocurrency exchanges. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Join 1M+ traders who choose PrimeXBT as their go to trading platform. The broker does not charge dormant accounts with an inactivity fee. Along with the main account, Bybit also supports subaccounts, which allow crypto traders to manage smaller separate accounts. Whether you have a question about our platforms, or need help with your account, our friendly, multi lingual support team is available 24/7 via live chat and email. PrimeXBT has a partnership with DevExperts. The lack of Proof of Reserves, regular audits, or any form of insurance on customer deposits does raise safety concerns. This Brand Press post is for informational purposes only and should not be interpreted as financial or investment guidance. Automated trading is not permitted on PrimeXBT’s trading platform. Still, the platform’s global community grows rapidly, and with it, so do its liquidity, performance, and reputation. Second, when it comes to trading technology, they do not offer API functionality. This website is owned by PrimeXBT PTY LTD. Depending on your jurisdiction, some products or services might not be available. In an exciting update for the cryptocurrency marketing landscape, CryptoVirally has announced a series of new entries and enhancements to its already comprehensive range of services. We do not solicit clients residing in the above regions and only accept clients that register at their own initiative. To execute a trade on PrimeXBT, select the market you want to trade, choose the order type, and enter the necessary details, such as the amount and price. You may like to do some trading, or you might be interested in social media.

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In this case, it would be equally valid to express the transaction’s volume as $20,000 or 10 ETH. Dogecoin is underperforming Bitcoin today, trading 3% lower over the past 24 hours and having seen declines of 6% so far in October. Your PrimeXBT FX tax office may also be able to request personal data from your bank. I can share a little bit what indicators I’m using during a trading session, these are: Ichimoku Cloud, Fibo retracement and the RSI index. Learn more about Baksta’s Legal Terms. We empower users to take control. The guaranteed high APYs make this a fantastic option for anyone looking to let their money grow passively. We’ll explore the key differences between spot trading and derivatives trading, along with the concept of leveraged tokens. Key features of PrimeXBT Copy Trading include. We use dedicated people and clever technology to safeguard our platform. Global markets have struggled in 2022 and have been felt throughout the crypto industry. I’m trading only crypto futures because I prefering a high volatility on financial markets and the crypto market is ideal for my trading strategy. Follow us to get the latest PrimeXBT coupons on Reddit. 002 ETH when it comes to withdrawing Ethereum. For example, if you have a $200 bonus active, activating another promo will cancel the previous one. While the app does send notifications for significant price changes in favorited assets, this is not as effective as custom alerts. Information regarding past performance is not a reliable indicator of future performance. If you choose this, then you are unable to access the highest leverage range that PrimeXBT Crypto Futures offer. This feature requires a verification code in addition to the usual login credentials, making it more difficult for unauthorized individuals to gain access. Additionally, users can access their transfer histories through individual wallets.

Reviews4 3

This allows anyone to benefit from the potentially profitable crypto trading strategies of top traders. Date of experience: April 20, 2024. It is possible to trade crypto during the day and night. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. PrimeXBT also offers both long and short trading options. 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. In financial markets, where time, knowledge, andexperience are paramount, copy trading has become a transformative tool forinvestors. These products are not suitable for all investors. You can also choose the size of the trade, risk taking, etc. Additionally, the absence of mandatory KYC verification allows users from around the world to access the platform, bypassing geographical restrictions by using a VPN.

About Us

I enjoyed the WebTrader’s advanced charting capabilities, which are incorporated from the seamless TradingView. PrimeXBT does not charge for deposit or wallet creation. Explore our detailed guide on connecting to and utilizing the PrimeXBT trading bot via Telegram. Additionally, you can earn extra tokens by watching educational videos and completing quizzes via the Learning Rewards program. Two companies are behind the Brand PrimeXBT : PrimeXBT Trading Services Ltd, Prime Technologies Ltd. You can also sort markets by name and 24 hour change. This section will explore various ways to enhance your trading knowledge and skills, including educational resources, trading courses, and practice accounts. A “Summary Module” also provides an overview of existing positions and orders and allows traders to easily and quickly adjust existing trades and positions and either cancel them or close them out. What Exactly is the Shanghai Upgrade. Within this part of our PrimeXBT review, we will talk about the different types of assets available for trading. Crypto Futures and CFDs products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. Because CFDs can be made to all kinds of exotic trading pairs, it allows brokers to provide exposure to more popular cryptocurrencies than most cryptocurrency exchanges can. To trade with margin, users must fund their trading account after making a deposit to begin trading. For added security, PrimeXBT allows you to lock the app with a passcode, fingerprint, or FaceID, in addition to their existing account security measures like 2FA. It is incredibly important to save this backup key as it will be required for you to reset your 2FA if your phone gets stolen or lost. Bybit has also done an impressive job expanding its offerings, now contending with the likes of Binance and OKX thanks to their solid reputation, long standing track record, and respect within the crypto community. The provided educational materials do not constitute professional advice in any area, including investment, financial, legal, or tax. The way Crypto signals work is very easy to understand. PrimeXBT does not accept as clients residents of the United States, Japan, Canada, Cuba, Israel, Iran, New Zealand, Syria, North Korea, Sudan, United States of Minor Outlying Islands, American Samoa, Russian Federation, Myanmar, Saint Lucia, Puerto Rico, Guam, U. SD162, having its registered office address at IMAD Complex, Office 3, Ile Du Port, Seychelles. Bybit has been expanding its user base, not only being adopted by retail traders but professional traders and firms as well, encouraged by Bybit’s sterling reputation and efforts in the crypto space. Yes, PrimeXBT employs advanced security measures to protect user data and funds. The platform also provides competitive fees, robust security measures, and a user friendly interface. Also Read: 6 Best Bitcoin Savings Account. The broker also provides platform tutorials on its YouTube channel. The referral codes allow exchanges to properly attribute users and distribute rewards, bonuses or fee discounts based on disclosed affiliate relationships.

Security and Transparency

While withdrawing to a bank card is the fastest and most convenient option, the extremely high fees are a major drawback. Today, with more people using smartphones for work, education, entertainment, and socializing, it’s important for trading platforms to have a mobile app. Attention is paid to technical, fundamental, and economic analysis. PrimeXBT PTY LTD is an authorized financial services provider in South Africa with license number 45697 having its registered address at 180 Lancaster Road, Gordons Bay, Western Cape, 7140, South Africa. Keep a Healthy Margin: All of your trades will be funded by borrowing money from the platform PrimeXBT. It offers features such as copy trading, leverage trading, and perpetual futures contracts, as well as staking options. 35B Akpan Essien Street Uyo, Akwa Ibom State, Nigeria. Traders can access leverage up to 100x, allowing them to maximize their trading positions and potential profits. There are multiple benefits for users who want to take advantage of copy trading such as. FOLLOWING THE CONCLUSION OF THIS ANALYSIS, COMPANY MAY DECIDE TO AMEND THE INTENDED FUNCTIONALITY IN ORDER TO ENSURE COMPLIANCE WITH ANY LEGAL OR REGULATORY REQUIREMENTS TO WHICH COMPANY IS SUBJECT. Whenever you complete a crypto transaction, you will usually be charged a fee. Deep liquidity: Access to 30+ exchanges for competitive token prices and liquidity. To redeem a coupon code on primexbt. This is not financial advice. In the next section, we will discuss the importance of risk management and how to implement effective risk management techniques for instant trading. Information about products may also be placed based on other factors, such as the ranking algorithms on our website. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. Returns or profits may be subject to capital gains tax. Leverage size is good too. They expect the year 2023 to see Ethereum trend lower, with an ETH price prediction of a yearly low in November of $598. PrimeXBT has implemented industry standard security features to protect user accounts, though it does not currently offer Proof of Reserves or audit data — a practice that many top tier platforms have adopted. Virtual Assets are high risk products, highly volatile, with fluctuating values. With PrimeXBT you have access to various trading assets; CFDs, Forex, Crypto, etc. PrimeXBT provides 24/7 customer support through live chat and a comprehensive help center. The following data may be used to track you across apps and websites owned by other companies. To secure your account, use a strong password, enable two factor authentication 2FA, avoid sharing your login details, and regularly update your security settings. You are now “short” 100 shares of the company. The potential for higher returns is accompanied by the potential for significant losses, making risk management essential for leveraged trading. These platforms are available in the Client’s Personal Cabinet, they do not need to be downloaded and installed. Comments: PrimeXBT is a reputable and feature rich crypto trading platform that caters to both new and experienced traders.

Technical Indicators

As PrimeXBT does not support holding LTC tokens, I used USDT to test this withdrawal. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. Assess your financial situation, set aside funds specifically for trading, and establish risk management rules. The margin used depends on the market and the amount of leverage provided. The two platforms each are known for excellence in the trading community, but one must take the crown for copy trading and a complete range of features, products, and services. Now this bonus is exclusive. The astute trader can take advantage of all market conditions, so shorting SHIB is a skill you should have. While both stop orders and limit orders are used in trading, they serve different purposes. Price Spread or Bid Ask spread is the difference between the Bid and the Ask price of an asset. Wishing you continued success and fun along the way. This is a very competitive rate compared to other online brokers offering Copy Trading to their clients. 306038128, having its registered office at Eisiskiu Sodu 18 oji street 11, Vilnius, Lithuania. USDT and USDC TRC 20 tokens require 20 block confirmations which usually takes around 1 minute;. He earned a Bachelor’s degree in Economics and International Relations. To achieve this, we evaluate the availability of the necessary features and tools. 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. For detailed tutorials see. Positions closed before the start of a new trading day 00:00 UTC will not be charged at all. The trading process can be very emotional if you are simply guessing, so it is important to have a set of rules laid out before you even get involved.

What is the Customer Support like for Prime XBT?

With that said, please be aware that cryptocurrencies are already extremely volatile, and we can’t in good conscience recommend trading cryptocurrencies with margin/leverage. PrimeXBT does not accept clients from the jurisdictions listed in the Company’s Restricted Jurisdictions List. Huge leverage that can be a double edged sword and no account verification the client doesn’t have to go through KYC procedure. The next section will detail the different deposit methods available on PrimeXBT. Here is a look at the margin requirements for the 11 supported indices. Bitcoin Price Stagnates Amid Mixed Market Signals. 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. OKX, on the other hand, uses a tiered fee system and employs various security measures such as cold storage, multisig authorization, and an offline computer for private key encryption, among others. Investing in POL ex MATIC, like any other coins, comes with its risks. The systems, strategies, and examples discussed are provided for educational and illustrative purposes and may feature hypothetical or simulated performance results, which come with inherent limitations. You can open an account and start trading with just your email address. We always provide our clients with the latest and greatest in trading tech. Community and collaboration. This site contains affiliate links to products/services. This can guard against fake credentials and improve hiring process confidence. Org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Credit and debit card payments for crypto are facilitated through third party services such as CoinFly, PayNow, and InstaPay. You can set up a demo account for yourself prior to or alongside your live FX and CFDs account. Many traders remain cautiously optimistic, anticipating final clarity in the SEC case and potential broader institutional adoption. However, the funds must be so large that they cover the margin requirements for trades.

KYC: A Shield Against Criminal Enterprises

Plus, their profit share system is transparent – allowing me to know how much I owe when my copied trades turn profitable. 2024 00343, having its registered office address at PKF Corporate Services Ltd. There are multiple benefits for users who want to take advantage of copy trading such as. That’s why we offer some of the lowest fees on the market. PrimeXBT supports trading the major Forex pairings, crosses, and exotics. Anyone who decides to open an account with PrimeXBT does this independently, under their own exclusive initiative, and has to confirm that no solicitation or recommendation has been made by PrimeXBT or any other entity within the group. Of course, the higher the margin is, the more funds you have to borrow, and that’s why fees will also cost more, and the liquidation price will be closer. 15 hours ago Karrie Tan. PrimeXBT operates three entities. This process is simple and only takes a few minutes. This website is owned by PrimeXBT PTY LTD previously named Stack Advisory PTY Ltd a company registered in South Africa, with registration No. However, depositing fiat currency requires KYC verification. Let’s look at each market separately. In conclusion, PrimeXBT is an excellent choice for crypto traders but offers limited value for those seeking to trade other asset classes. Please exercise caution, and do not trade beyond your limits when deciding how much risk to take on. Also Deep liquidity is a feature of Prime XBT that enables traders to initiate and exit deals rapidly and at attractive pricing.

News Trading: Acceptable Choice

Claim $100 by depositing a minimum of $500 within your first 48 hours. Affiliate Program: PrimeXBT partners can choose between a revenue share or cost per acquisition CPA program. In social trading, you’re not automatically copying the trades of other traders, but rather exchange ideas and market research with like minded peers which can benefit your personal trading performance. Once a customer has decided which trader they would like to follow, they will need to make sure the funds they want to copy trade with are in their main wallet, not the trading wallet. However, standard trading fees and transaction costs apply when you execute trades on the platform. ❌Cons of using Crypto. And although the site has quite clear functionality, without knowledge of English you will probably need a little help from an online translator. Information regarding past performance is not a reliable indicator of future performance. This way you can purchase Bitcoin with your credit card or wire and then deposit it directly into your PrimeXBT account. Information regarding past performance is not a reliable indicator of future performance. This comprehensive guide will delve into the details of PrimeXBT leverage, explaining how it works, its benefits and risks, and how to use it effectively to optimize your trading strategy. PrimeXBT is a global trading platform giving traders access to cryptocurrencies, commodities, Forex, and major stock indices through contracts for differences CFDs. The platform allows both cryptocurrency and fiat withdrawals through various channels, providing flexibility and ease of access. The ATO has an annual operating budget of over $3. The target audience of the platform is aimed at both traders and non traders alike. PrimeXBT does not charge fees for Crypto and Fiat deposits. To access it, navigate to ‘Hub’ and select ‘Referral Program. In order for traders to quickly decide whether to open a long or short trade, the site has an interactive chart for each cryptocurrency futures. Its copy trading functionality steers clear of bells and whistles, offering a direct connection to individual traders.

Crypto Market Struggles: Bitcoin and Ethereum Face Selling Pressure

PrimeXBT supports credit/debit cards, cryptocurrencies, and Volet for all traders. I found the KYC process to be straightforward, with my account being verified instantly. PrimeXBT has won several industry awards, and has received an AFS license from the ASIC, essentially certifying that the platform meets certain safety standards set by the regulator. Your satisfaction and trust are paramount to us, and we hope to resolve this to your satisfaction soon. There are two main types of storage for digital currencies: hot wallets and cold wallets. With traditional trading, you’d purchase what your budget allows. However, there are some regions where PrimeXBT does not accept users, including. BNB Smart Chain network BSC for BEP 20 tokens. This website is owned by PrimeXBT PTY LTD previously named Stack Advisory PTY Ltd a company registered in South Africa, with registration No. Discover the best in crypto gaming and trading with exclusive offers from VGO Promo. The world of trading and Cryptocurrencies can be exciting, and the potential for high returns certainly adds to the thrill. Learn more about Baksta’s Legal Terms. In anticipation of a possible hard fork and new token creation, PrimeXBT will take the following measures to maintain the safety of user’s funds during the upgrade.

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This is a fair question to ask. However, it lacks free withdrawal options, with existing ones incurring higher fees compared to most competitors. High Risk Warning: Trading in foreign exchange and other financial instruments is inherently high risk and may not be appropriate for all investors. For more information on risks and conflicts of interest, see these disclosures. This initiative is part of the company’s broader strategy to expand its user base and enhance its reputation in the trading community. These processing times are unreasonably long, especially compared to competitors like Binance, Bybit, and KuCoin, all of which offer SEPA Instant withdrawals that process in less than a minute. Active users across the world. In the ‘Margin’ page, select the appropriate margin account, enter the promo code, and click ‘Activate’. PrimeXBT has implemented industry standard security features to protect user accounts, though it does not currently offer Proof of Reserves or audit data — a practice that many top tier platforms have adopted. In addition to market risk, with only seven trading pairs, PrimeXBT’s asset selection is limited compared to some alternatives in the market. By integrating with Telegram, a messaging application, PrimeXBT allows users to access account statistics, manage trades, and receive support directly through the chat interface. Additionally, fiat withdrawal times on PrimeXBT are notably longer compared to those of its competitors, making it less convenient for those who prioritize quick access to their funds. This transparency helps you choose a trader you’re confident in copying. As an example; If you deposit 1 BTC, you will receive a bonus of 0. Using the bonus effectively requires a clear strategy. Many trading success stories prove its effectiveness. This allows you to significantly increase your market exposure and profit potential. As a non custodial platform, Changelly does not enforce KYC processes as standard. Unlike Binance or Bybit, you can’t filter by category, but given the limited number of markets, this isn’t a major issue. So a 100x leverage means that if you have 1 BTC, you can trade up to 100 BTC. 3 PrimeXBT fees: PrimeXBT offers some of the competitive fees. Asset coverage is one of the more impressive aspects of the PrimeXBT trading platform. 🌐 In the cryptocurrency market, this entails utilizing algorithms to analyze market data, spot trading opportunities, and execute trades at speeds and frequencies beyond human capability. PrimeXBT is a perfect match for copy traders. 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. Additionally, while PrimeXBT excels in copy trading, it lacks bot and social trading features, which might be a downside for some users. 000005 BTC, depending on the leverage used. Just waste your time.

Web3 Starter

While it supports copy trading, the platform lacks automated trading functionality. Risk Warning: Trading in leveraged products carries a high level of risk and may not be suitable for all investors. With Commodity CFD, traders can speculate on Metals like Gold, Silver, Lead, and Energies products like Oil. Of course, this is a double edged sword and leverage can seriously hurt a trader’s account, appropriate risk management is a must. This center will also provide you with the necessary information to get your account back up and running in no time. In summary, PrimeXBT combines high leverage, a wide range of assets, and an easy to use interface. Prime Technology Ltd is PrimeXBT’s Technology Provider. The platform automatically triggers this take profit scenario, where it buys back the 10 CFD positions that you had sold previously.