The PrimeXBT platform is one of the topmost trading platforms in the industry. It has made advancements over time and has made a name for itself in the crypto trading community.

Even though PrimeXBT has not been operational for as long as other exchanges, it is quite prominent because of its features and services. It not only supports digital currencies but a variety of other asset classes as well. The users of the exchange can also have access to several investment options.

In short, this is an outstanding cryptocurrency trading platform for many crypto enthusiasts and most of its major attributes are highlighting in this brief PrimeXBT exchange review.

Here are the details you should know about the crypto exchange.

PrimeXBT Platform Offers High-end Safety

Safety should be one of the biggest concerns for every crypto enthusiast, especially if they are stepping into the crypto space for the first time. The level of safety and security offered by an exchange can enable traders to trade crypto without being worried about their funds, accounts and information.

None of the exchanges in the market are completely risk-free. However, the risks you may face as a novice trader can be eliminated to a great extent if they opt for a platform that implements advanced security protocols like PrimeXBT.

Some of the security systems used by this crypto-to-crypto exchange are:

  • Two-factor authentication (2FA) system
  • Cold wallet storage
  • Advanced and secured server for the web platform
  • Secured Socket Layer (SSL)

Covesting Feature

There are numerous impressive aspects of the PrimeXBT platform. However, one of the most prominent ones, that sets it apart from other trading platforms is the availability of the Covesting feature.

This feature offers copy trading, which means that new traders or those who do not have enough time to manually place trades, can automatically copy the trades of experts. This allows inexperienced or busy traders to be able to trade even if they lack experience or time. Through copy trading, they will get the same benefits or losses as the trader they copy.

Fees

The fee of an exchange is yet another aspect that should be a priority for new users to explore. Using an exchange without properly knowing the amount you will be required to pay while buying, selling or trading crypto can be unsafe and a little out of the budget as well.

The security of the users can be put in question because some platforms include hidden and additional charges in their fee structure. Therefore, before using any exchange, it is important to know how much fee you will be required to pay.

In terms of fee, the PrimeXBT platform offers one of the lowest and competitive fee structures in the industry. It is free of any hidden charges and aims to offer a fair fee.

The details of the fee are mentioned below.

  • 0005 BTC withdrawal fee
  • 05% trading fee for cryptocurrencies
  • 01% trading fee for forex currencies

Leverage Trading

This PrimeXBT exchange review highlights yet another major attribute of the platform, which is the support it extends for leverage trading.

This is an advanced trading strategy that allows the traders to open bigger trading positions by borrowing funds from the brokers. The borrowed amount is called leverage. Therefore, this is also called ‘trading with leverage’. Since the leverage allows traders to open bigger trading positions than they normally would, they can either have high profits or high losses, depending on how the trade goes.

Therefore, you should know that leverage trading comes with high risks and high rewards. The leverage ratio you can opt for also varies from one exchange to another. The PrimeXBT platform offers one of the highest leverages, which is up to 100x. For trading forex commodities and indices, the leverage offered by the exchange is 1:1000.

Supported Currencies

PrimeXBT is a versatile platform that supports forex currencies, crypto indices and other asset classes. As a trader, you can trade both major and minor forex currency pairs on the platform.

This popular crypto trading platform supports the following forex currencies.

  • Australian Dollar
  • British Pound
  • Canadian Dollar
  • Euro
  • Japanese Yen
  • Swiss Franc
  • US Dollar

Analysis Tools

The PrimeXBT platform is also an outstanding option for the traders, because of the various services it offers to the users. Through this exchange, traders are not only able to carry out fundamental but technical analysis as well.

Here are some of the high-end in-built features of the cryptocurrency exchange that facilitate the traders.

  • Creation and import of indicators and custom tools
  • Several in-built indicators
  • Charting analysis tools
  • Analyzing and exporting trading history

Final Takeaways!

Anyone interested in using the PrimeXBT platform should take their time to learn what the platform has to offer. Even though it is a prominent exchange, users should know about the available features so they have a good idea of what to expect when they opt for it.