PrimeXBT Review – Are They Safe or a Scam?

Learn more about Baksta’s Legal Terms. PrimeXBT’s mobile app, available on iOS and Android, provides fast and convenient access to the market anytime, anywhere. Aside from its innovative trading platform, PrimeXBT introduces an innovative community engagement feature. Its intuitiveness and simplicity provided a pleasant trading experience. Higher leverage can help increase profitability, but can involve more risk, and needs to be managed. When trading on leverage, traders can potentially enhance their returns by a certain factor. Within this part of our PrimeXBT review, we will talk about the different types of assets available for trading. Two factor authentication adds an extra layer of security to your account. No proof of residence, no selfies with your passport – just enter your email, choose a password and you can deposit, trade and withdraw. Commodity trading is believed to have been taking place since 4500 BC in Sumer. You are making a trade based on future price movements. I don’t trust them no more to trade with them. It is essential to comprehend the nuances of margin trading before putting any trading capital at risk. However, the help center FAQ page and educational material for new traders leave much to be desired, with only about 15 sections compared to over 40 on Binance and Bybit. This is what happens when you courageously start something that you believe in.

Trusted by over 1,000,000 tradersTrusted by over 1,000,000 traders

Arbitrage trading can be a complex strategy. I also found the platform intuitive and feature rich, offering a massive assortment of analytical tools and chart configurations. There are several other exchanges that can provide you with similar features and trading opportunities. Cryptocurrency, Forex, Indices and Commodities. The tool can be used to confirm other signals from other indicators, but also works great as a standalone technical analysis indicator for cryptocurrencies. For a complete list of restricted regions, refer to Section 1. What’s worse, these clients often need regular updates, otherwise hackers have been known to explode software issues and use it to steal users’ funds. To all readers: Thank you for your interest. It is worth mentioning that PrimeXBT likes to highlight that their whole system is powered by Amazon’s own AWS servers. If there is no seller on the market, you can’t buy. 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. Traders should never enter a position without first analyzing the market and the asset they are considering trading. Immerse yourself in the thrilling journey of cryptocurrency trading with PrimeXBT, where acquiring coins or tokens means securing a slice of digital assets like Bitcoin. Navigate to the asset you want to deposit, and you will be shown a screen with your crypto deposit address. By integrating smart contracts into Bitcoin through its Layer 2 network, PlutoChain could significantly expand Bitcoin’s capabilities while leveraging its renowned security features. Otherwise, please leave this website. We’re thrilled to hear that you find our platform easy to navigate and user friendly. We’re glad to hear that our team has been helpful and knowledgeable in assisting you with your trading setup. Starting Price: Available on Request. To simplify, let’s say that Bitcoin trades at $50,000. Nonetheless, Bitcoin’s evolution has shifted its popularity towards being an asset rather than a currency. Despite this, the optional KYC feature makes the platform ideal for users who prefer to remain anonymous and avoid sharing personal data with exchanges. However, according to the platform’s KYC page. Since natural gas is a commodity and a major energy source, it shares some traits with other energy commodities in the market. When you invest in Bitcoin futures, for example, the value of your futures contract will be dependent upon the price of Bitcoin in the spot market. Bonuses typically come as deposit rewards, fee reductions, or other trading perks.

What forms of payment does Primexbt accept?

Customizing the interface to fit your needs can further enhance your trading efficiency. If crypto copy trading is something you are interested in, Gate. However, due to the high volatility of cryptocurrencies, the article does not recommend trading them with margin or leverage. Once you have generated the API key, you will use it to link your PrimeXBT account with the Telegram bot in the next step. User Friendly Interface: The interface is intuitive, making it easy for traders to navigate and execute trades efficiently. By leveraging the advanced tools and features provided by PrimeXBT, traders can effectively navigate the forex markets, implement strategic trades, and manage their risk to maximize their trading success. Oil trading is one of the most popular ways to play the global economy, as the oil market is considered. Withdrawal requests made before 12:00 UTC are processed on the same day, but requests made after 12:00 UTC can take up to 24 hours to process. Actual Crypto Currency Services are provided by Baksta UAB Baksta, a company incorporated in Lithuania with Registration No. Here is a look at the margin requirements for some of the 51 forex pairs available. Primexbt crypto platform is 10/10.

Restricted Jurisdictions

01%, while on PrimeXBT, they were consistently over 0. Share your experiences with other software buyers. Receive the latest news and stay informed. Fiat exchange services are subject to and governed by Baksta UAB’s Terms and Conditions and Policies. Happy trading, and thanks again for your insights. Setting Up Perfect Money. Courses break down complex topics into easily digestible lessons. The first thing that you will notice about the platform is that it offers a large degree of customization. Holds a Bitcoin Services Provider BSP license issued by the Banco Central de Reserva BCR, with registration number 66d10393e8a00a3181b8e457. PrimeXBT charged me a withdrawal fee of 0. Dear BriasThank you for sharing your experience with us. The goal is to ensure that their clients enjoy the highest level of security and privacy. Monero and similar currencies fall under this category, both offering the same cryptographic and scarce supply benefits of Bitcoin, but containing added code that can fully or partially obfuscate transaction information such as sender, receiver, amount and more. Currently, we are only give signals for Binance, Binance, Houbi, and FTX Exchanges. The positives of this market action exploded Dogecoin’s price, allowing it to climb to its all time high of $0. The security of oracles is critical, as they bridge smart contracts with external data. The FSCA mandates that brokers offer quality education to beginners, and PrimeXBT has published 390+ educational articles. After completing these steps, you will receive a confirmation email. This website is owned by Stack Advisory PTY LTD, a company registered in South Africa, with registration No. To register on PrimeXBT, you need an email address and a password.

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We’ve got you covered with access to 100+ global markets on one platform. Withdrawals are generally processed by the broker once each day between midday and 2pm GMT. Crypto Futures and CFDs are high risk, leveraged products that may not be suitable for all investors, as they can lead to significant losses. Trading Features: The mobile app supports trading for both Crypto Futures and CFDs, including all order types such as limit orders, stop limits, day orders, OCO, and GTC. When a participant opens a position on a contest trading account, it counts towards their Turnover indicator based on the amount of the position, and it also increments their Number of Trades indicator by one. As the market trended down, the price reached my stop loss, triggering and executing the order as expected. Maker fees are generally 0. Reply from PrimeXBT Copy Trading. Trading bots also lack the opportunity for you to use margin trading, and they cannot have an instinct for a trade that a human can have. Hearing from other traders provides valuable insights, especially when you’re new to crypto trading. The company’s website has a table showing swaps for all cryptocurrencies. Let’s look into what traders have to say about their experiences with PrimeXBT. Corporate Communication Structure and Transparency: The company does not share any information about its founder or current leadership on the official website. We do not solicit clients residing in the above regions and only accept clients that register at their own initiative. Get $100 off your first purchase at Primexbt. A buy and hold strategy is also called HODLing in Crypto, which means the investor is buying spot assets and holding them under any circumstances. He earned a Bachelor’s degree in Economics and International Relations. Another popular day trading strategy is trend trading. Setting up your PrimeXBT account involves registering, completing the verification process, and depositing funds. The absence of mandatory KYC and AML measures increases the platform’s risk of investigation and sanctions, similar to Binance’s $4. The broker offers only cryptocurrency based accounts on Bitcoin, Ethereum, USDC, and USDT. After choosing your preferred deposit method, you can proceed with the actual deposit process. Naturally, in this PrimeXBT Crypto Futures review, I’m focusing on the platform’s derivates services, but it should not be ignored that PrimeXBT copy trading is also a major part of its ecosystem. Information regarding past performance is not a reliable indicator of future performance. Once a coupon has expired, it can no longer be used. $20,000 or equivalent for unverified users.

PrimeXBT Review

While KuCoin and Binance remain the kings of crypto trading contests, what is interesting about PrimeXBT is that the trading contests are done with virtual funds in a demo account where traders compete against each other but can win real rewards like USDT cash prizes. 1 BTC at 100x leverage would become a position valued at 10 BTC. This review covers all available withdrawal methods, their limits, fees, and other important details, making it essential for both new and experienced traders. Some countries are restricted from using PrimeXBT due to regulatory challenges and compliance issues. There are also exclusive promotion periods and additional rewards for some of the top traders. Virtual Assets are volatile and their value may fluctuate, which can lead to potential gains or significant losses. Traders heavily rely on various indicators to recognise and predict particular market movements to plan out their trades. ℹ️ What are Majors vs. With PrimeXBT Copy Trading, just follow experts and copy their trades to start your trading journey. This limitation restricts users from using payment methods directly supported by PrimeXBT, making it less convenient to deposit funds. This method effectively measures the capability of customer support to assist both active traders and casual investors. Like most exchanges and financial sites these days, PrimeXBT has full SSL encryption. 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. Yes, you can make a significant amount of money from margin trading. Complacencykills returns. The exchange does not currently offer fiat off ramps for withdrawals. This section will guide you through the initial steps to get you started on PrimeXBT, a leader in the world of margin trading. If you have any questions about our asset offerings or need assistance with any features on the platform, please don’t hesitate to reach out at. If you speculate with 1 bitcoin that XRP price will surge against BTC in 24 hours and it does increase by 10%, you’d make a profit of 0. It’s just an agreement to buy or sell at a specific price and then pay the difference of the transaction with cash. The maximum leverage for Forex trading is 1:1000, and for cryptocurrency, it is 1:100. $2,000 by bank card.

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Additionally, while PrimeXBT excels in copy trading, it lacks bot and social trading features, which might be a downside for some users. Given its status as the most heavily traded and largest cryptocurrency by market cap, Bitcoin is the choice of millions of traders on a daily basis. Stop loss orders also allow you to manage risk without having to constantly monitor a trade. Learn more about Baksta’s Legal Terms. PrimeXBT offers margin trading to enhance earnings. Refrain from linking posts on social media such as Telegram, Discord, Facebook, Twitter etc, except official social media content from PrimeXBT and Covesting groups and channels. “The only investors who need to fear withdrawal fees are those who don’t do their homework. Fees for smaller traders are relatively high. Basically, customers who choose to use this platform are on their own and do so at their own risk. 🌎 PrimeXBT Official English Speaking Community PrimeXBT is an all in one platform for all your trading needs. Because in October of 2023, the price of Ethereum was $1,815.

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In this scenario, you’d experience a loss of $500 excluding fees. 05% trading fee for cryptocurrencies, with much lower fees for forex and commodities at 0. 1% and futures trading fees at 0. Note that registration on the site is very fast, no verification is required, so you will be able to start trading cryptocurrency almost instantly. It is ideal for experienced traders, offering advanced charting and a variety of tools to support diverse trading strategies. This feature, part of its Covesting module, allows users to replicate the trades of top traders, thereby gaining access to a range of traditional financial instruments, like other crypto exchanges, FX, and commodities. You can also set Protection orders for any existing position by double clicking the position where you want to add Protection order. Information written by the company. There is also a mobile version an application, which has somewhat limited functionality, but is generally similar to the main version. Choosing the right trading platform is crucial for achieving your trading goals. Bybit has seriously ramped up its security framework in recent months, leading to independent security firm Certified listing them as a top ten most secure exchange, giving them a Triple A security rating. Since PrimeXBT does not support LTC deposits, I transferred USDT using the TRC20 network. Next, we will explore solutions for failed payments. Ensure that you enter the correct wallet address to avoid any issues with your withdrawal. Hello Minh,Thank you for your honest perspective. The ‘Messages’ widget contains all system messages with a detailed explanation of why an order was rejected. Best regards,The PrimeXBT Team. Currently, there is a limited time promotion where referrers can earn a $300 bonus if their referee registers, deposits at least $300, and makes at least 30 trades, reaching $500,000 in trading volume across crypto futures or crypto CFDs. The goal of this growing industry is to do away with financial intermediaries like banks and other financial institutions. Leverage trading, however, is like getting a loan from a friend to buy more. Balancing your potential profit to your potential market exposure – known in the world of financial markets as the risk to reward ratio. Trade 100+ markets like BTCUSD, EURUSD and SP500. No, PrimeXBT is not regulated, which can be a concern for potential investors. PrimeXBT Trading Services, S. Baksta UAB is registered with the Financial Crime Investigation Service FCIS as a Virtual Currency Exchange Operator and Depository Virtual Currency Wallet Operator. We think there’s no better place to start than with Stock Advisor, the flagship stock picking service of our company, The Motley Fool. If the asset price does trend downward, a short position can then be closed successfully in profit.