PrimeXBT Review 2024: Pros, Cons and How it Compares

Since PrimeXBT is solely a derivatives trading platform and does not offer spot trading, it has not been reviewed by many of the trusted ranking websites we typically rely on. If the company decides to do a runner or a rug pull, or even if they decide you didn’t actually win that trade and refuse your payout, there is very little legal action anyone can take against them. Outside of curating deals, Lily loves spending time with her own pets, volunteering at animal shelters, and exploring pet friendly activities. For instance, funding fees for BTC on Binance and Bybit were both 0. Security is always a consideration when talking about Cryptos. There are unique contests and promotions for affiliates, including performance based prizes and awards. But for now, let’s crack into PrimeXBT vs Bybit and determine which one is best for crypto trading. Review collected by and hosted on G2. Use the Binance referral code 49316610 and receive up to $600 in rewards and bonuses. PrimeXBT charges competitive fees with a maker fee at 0. 5B worth of coins remain locked in decentralised finance apps. When using live chat, I usually received a response within 2 minutes. I also tested the fiat withdrawal process, using Volet. The platform offers its diverse customer base cutting edge products and professional trading conditions. Acting swiftly is crucial, as withdrawals are processed within a specific time frame each day. This makes passing through the middle BB an effective and profitable sell or buy signal, or a signal to open a long or short position. Users Can Make Simulated Withdrawals with Zhejiang In a tweet yesterday, DevOps engineer at Ethereum foundation Barnabas Busa gave details about the Zhejiang testnet slated. Please refer to Affiliate Disclosure. Staking COV tokens unlocks various advantages, such as reduced trading fees, increased profit share, and enhanced APY on yield accounts. First keep in mind that it is like comparing apples to oranges, Bitcoin’s express purpose, as noted in the infamous Satoshi white paper, is to be a «purely peer to peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. PrimeXBT offers an array of products catering to the needs of novice and seasoned traders. This can occur due to slippage, especially in fast moving or thin markets. PrimeXBT offers the following promotional offers. PrimeXBT delivered a seamless trading experience.

◾️ What markets can I trade?

The broker does not interfere with trading, everything is always fast. We’re here to help you. PrimeXBT employs advanced encryption technology and two factor authentication 2FA to safeguard user data and transactions. When it comes to KYC, MEXC does have KYC, but it isn’t mandatory. What is the Primexbt minimum deposit. PrimeXBT allows direct Fiat deposits to Global Markets CFDs currency trading accounts by automatically redirecting them from your wallet when a deposit is made. On the other hand, the average daily trading volume on PrimeXBT with five crypto assets is over $1. The 32 ETH barrier might seem high to many individuals, but compared to the enormous cost of mining hardware necessary for PoW systems, the barrier to entry for Ethereum is low in terms of cost, initial investment, and maintenance. The authors of the materials shall be fully liable for the accuracy, completeness and impartiality of any information in the articles and reviews, including in the context of their use or mention of any brand names or trademarks. The relationship isn’t linear to your order size so I was wondering what’s affecting the “margin impact”. All website PrimeXBT broker in Turkey traffic is encrypted with secure sockets layer SSL encryptions and account passwords are cryptographically hashed, making them unreadable if the website is infiltrated. This necessitates effective risk management, especially for inexperienced traders, emphasizing the need for caution and responsibility when dealing with crypto futures.

Awards

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. Even though there is a chance of great profitability, Namibians should be cautious. Financial markets are broken up between different asset classes, such as Crypto, stock indices, commodities, and forex. Virtual Assets are volatile and their value may fluctuate, which can lead to potential gains or significant losses. It was founded in 2018 and registered in Seychelles, with a daily trading volume of over $375 million. In this PrimeXBT Crypto Futures review, I’ve covered a range of important factors. Price Spread or Bid Ask spread is the difference between the Bid and the Ask price of an asset. Dollar Index DXY dropped by over 1% on the day, reflecting investor concerns about the labour market’s strength and the potential implications for future monetary policy. Risk Warning: Trading in leveraged products carries a high level of risk and may not be suitable for all investors. Positions closed before the start of a new trading day 00:00 UTC are not charged. So, I see no reasons to complain. You can diversify your portfolio with various asset classes, including stock indices, commodities, forex, and metals. Whilst my experience trading derivatives on PrimeXBT was positive, I was disappointed by the limited number of available markets compared to competitors like Binance and Bybit. Shiba inu is a Japanese dog breed. 071 USDT in trading fees. If you are on the winning side and see that it is time to exit a trade, what happens is that the platform freezes and goes to a blank screen, at this point there is no way of managing your position and once your back in, your profits are gone, stop loss hit and now your at a loss for the trade fees, overnight fees, and the stop loss that you were willing to risk.

How to Get Started with PrimeXBT Spot Trading

Funds can also only be accessed via multiple signatures reducing the risk of one compromised party making unauthorized transactions. While ADA’s future holds promise, it is the prudent and well informed investor who will be best equipped to chart a course through the evolving seas of the crypto market. This method effectively measures the capability of customer support to assist both active traders and casual investors. Information written by the company. Signup for a new account on PrimeXBT from here using your email ID. Copy trading, by its nature, is a feature that allows inexperienced traders to mimic the strategies of successful ones. For Followers, it’s an opportunity to automatically replicate successful trades, unlocking passive profit potential without actively participating in the market. You can reset your account password using the Password recovery feature.

PrimeXBT Bonuses and Special Offers

Telegram: AGnetworkOfficial. Overnight Financing: For leveraged positions held overnight, PrimeXBT charges an overnight financing fee, also known as funding fee. Getting started with crypto can be hard. For example, PrimeXBT is an multiple award winning trading platform that lets users buy Bitcoin easily right from the dashboard using a third party payment widget. Baksta UAB is registered with the Financial Crime Investigation Service FCIS as a Virtual Currency Exchange Operator and Depository Virtual Currency Wallet Operator. With PrimeXBT trading, users have access to high liquidities across more than 80 asset classes, including PrimeXBT Forex trading, indices, commodities metals, gas, and oil, and cryptocurrencies Bitcoin, Ripple, EOS, Litecoin and of course, Ethereum. Your commission will be automatically credited to your PrimeXBT Wallets for Bitcoin BTC, Ethereum ETH, Tether USDT, USD Coin USDC and US dollar USD, depending on the currencies your referrals trade with. PrimeXBT offers mobile apps for iOS and Android, providing the same trading instruments. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. Date of experience: August 20, 2024. Before placing a leveraged trade, check how correlated markets are performing, such as equities or interest rates. What is the Primexbt bonus. Users can open accounts, deposit crypto, and start trading with just an email address. It requires no minimum deposit. These fees apply for positions held open overnight. That means it’s important that you do calculate and declare your crypto gains, otherwise it’s only a matter of time before the ATO comes after you. It’s designed to simplify the trading process by allowing you to leverage the expertise of experienced traders, eliminating the stress and emotional challenges like FOMO that often come with manual trading. Any XRP price prediction for 2030 or beyond is one part faith, and one part guess. Although this is a perpetual futures trading pair, not a direct comparison with our other trading tests, my experience trading derivatives on Binance, Bybit, KuCoin, and Kraken indicates that PrimeXBT performs just as well in terms of order execution and fills. In terms of supported cryptocurrencies, PrimeXBT’s repository is quite small and may not be a favourable option for some investors. PrimeXBT also offers a Covesting module of its trading platform. The opinions, news, reports, analyses, quotes or other information contained in Mundo Forex. 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. Compared to exchanges like Binance and Bybit, which offer over 350 tradable derivative markets, PrimeXBT is limited and primarily suited for traders focused on large cap tokens and seeking higher leverage options. The company has taken care of a variety of payment methods. The company’s clients can buy and sell crypto futures with a fixed commission: 0. PrimeXBT does not require KYC Know Your Customer verification for its users. In the event of system overloads, PrimeXBT’s trading engine efficiently manages order queues to mitigate the impact of high volatility. Affiliate Program: PrimeXBT partners can choose between a revenue share or cost per acquisition CPA program. Third party providers Volet and Perfect Money are also available but add an extra step compared to direct bank transactions.

Trading Platform

The complex interface is unsuitable for inexperienced traders. While it offers two factor authentication 2FA to enhance account security, several factors raise concerns about the platform’s safety and reliability. Lendingplate Personal Loan App. Virtual Assets are volatile and their value may fluctuate, which can lead to potential gains or significant losses. The first step in your trading career is to open up your first trade. The highest possible leverage is automatically applied when opening a position, and you can control it by selecting the size of the position. Additionally, the opinions expressed by the commenters do not necessarily reflect those of Bitcompare or its staff. Many cryptocurrency projects are untested, and blockchain. Affiliate partners also receive a dedicated dashboard to monitor earnings, dedicated partnership managers, and invitations to exclusive global networking events. You can find all of this information right here at Crypto Parrot. Please note, some markets may only be available via CFDs or other derivatives. We’re continually working to enhance our platform to ensure it is as intuitive as possible. Best Crypto Referral Programs. Although CDD is carried out very rarely, if you do not abuse the default trading procedures or jeopardise it, you can trade anonymously with complete accessibility. The mobile app has almost all the functionality of the desktop web based platform, with several order options and an impressive array of customization options to suit any trading preferences. Withdrawals are processed manually once daily, which may cause delays. 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. It’s important for users to be aware of this fee when planning withdrawals, as it is deducted from the withdrawn amount. Our website uses cookies. This rate is the same across all of its eight pairs. $20,000 or equivalent for unverified users. Here, you can choose the exact amount of BTC that you want to close from your position, and when you input this, you can simply hit the blue button. Although Chainlink remains unmentioned in the lawsuit, the potential repercussions on the LINK price loom large if major exchanges face operational constraints in the US. We review the bonus terms and conditions to ensure they’re fair and achievable, and check out the ongoing promotions and loyalty programs. Moreover, the price rise will rely on several variables, such as the rate of Stellar’s acceptance, developer enthusiasm, and the general state of the cryptocurrency market. It also offers lots of ways to choose traders and adjust the settings of the trades that the traders place.

My Key Takeaways After Testing PrimeXBT on Mobile

Daily withdrawal limits on PrimeXBT depend on whether you have a verified account. Some strategies can help mitigate the impact of overnight financing fees. 🌎 PrimeXBT Official English Speaking Community An all in one platform for all your trading needs. Here are our top two reasons. When you engage in trading on cryptocurrency platforms, the types of contracts offered are vital to understand. Time will surely tell. Arguably traders have already analysed their own risk appetite and found a technique that compliments their profit objectives. Instead, we had to sift through the responses to find the specific topic we were looking for, which was rather annoying. I found the absence of direct bank account withdrawals inconvenient, as transactions through third party payment providers typically take longer to process. Trading cryptocurrencies on margin can be very profitable if you understand the risks and challenges of leverage. For example, if a trader has $1,000 and wants to trade $100,000 worth of an asset in the PrimeXBT platform, they can use leverage to do so. Big traders often place large orders around important psychological price levels, such as $1,000, $10,000 or $50,000. Crypto Rand currently offers a single subscription for $200 a month that includes. 34500 = 60 point gain. In addition, Fiat wallets allow users to deposit, withdraw, and transfer Fiat currencies. As a brick and mortar business, it exchanges traditional payment methods and digital currencies. PrimeXBT has not provided an explicit reason for this, but it can be deduced from their stance on financial safety that it was implemented as a type of implicit risk management protocol. Username or email address. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. User transparency is also a considerable advantage, and independence from a central authority is also a big draw. Spot trading involves buying and selling tokens you own, whereas crypto futures involves speculating on the future price of a cryptocurrency without owning the underlying asset, and often using leverage. PrimeXBT platform allows its users to actively trade more than 30 assets with leverage on our fully customizable and powerful trading platform. However, it lacks spot, margin, P2P, and bot trading options, making it less suitable for inexperienced users. Top 10 African Brokers. Information regarding past performance is not a reliable indicator of future performance.

Huzaifa khan

PrimeXBT’s fee structure is another important point. Competitors like Bybit and KuCoin support a wider variety of fiat currencies and payment methods, easing fund transition. As demand for Polkadot blockchain applications grows, Polkadot’s ability to handle a high volume of transactions without sacrificing security may position it favorably in the market. This provides an excellent opportunity for both experienced successful Traders and Followers to earn and greatly boost each other’s profit potential. During testing, I received fast responses with a reasonable level of detail. The platform provides a variety of free deposit options for both crypto and fiat. For more information behind the development of Covesting, please click here. However, it has become standard on most trading platforms. Growing library, including provably fair games, but might be smaller. Dear Rafael,It’s good to hear that during these uncertain times, PrimeXBT has been a reliable platform for you. Deposit Insurance: PrimeXBT does not offer any insurance coverage on client deposits.

PrimeXBT Bonus 500$

For those of you who are going to be away from your desk, you will be happy to know that PrimeXBT also has a couple of mobile apps, PrimeXBT and PrimeXBT Futures Pro for more advanced trading. Claim Your $2200 Bonus. In full transparency and honesty, I have never been a big fan of the too many offshore and unregulated exchanges that are out there as so many of them can be quite dodgy. Once you have funds available in the trading account, you can click on « Trade » from the top navigation bar. For example, if you deposited with Volet, you must also withdraw using Volet. Double click trading: This feature enables traders to send new orders, cancel working orders, and close positions without confirmation, all with just a double click. Dear Carlos,We’re delighted to hear that you appreciate the wide range of assets available on PrimeXBT, including forex, commodities, cryptocurrencies, and indices. This transparency helps you choose a trader you’re confident in copying. The UI/UX for both platforms is great, and both platforms have highly rated apps, with the PrimeXBT app even winning an award for best crypto trading app. Negative balance protection exists. This promotional offer allows you to gain a 35% bonus on the amount you deposit in your PrimeXBT account. Look for platforms that have industry awards to show for their operational excellence, or that have large community followings with happy customers, and no history of hacks. In this case, if your SL/Stop Buy order was executed, this means that the ASK price of the asset has reached the price specified in your order. 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.

US dollar

It assigns risk scores to deposits, identifying and isolating illicit funds, while avoiding support for anonymous cryptocurrencies or fiat gateways to mitigate money laundering risks. PrimeXBT offers various promotions for both new and existing users, including a referral program, an affiliate program, and bonus rewards for users. My deposit was credited after 20 network confirmations, which took a few minutes. PrimeXBT does not accept clients from the following restricted jurisdictions: The United States of America, Japan, Saint Vincent and the Grenadines, Canada, Cuba, Algeria, Israel, Ecuador, Iran, New Zealand, Syria, North Korea or Sudan, United States of Minor Outlying Islands, America Samoa, Russian Federation and Myanmar. The PrimeXBT cryptocurrency exchange recorded $ 177. Whether or not you should buy Ethereum or Bitcoin is ultimately up to the individual investor and trader. Cryptocurrencies generally have higher fees due to increased volatility, while forex and commodities tend to have lower fees. Enhanced verification can increase these limits. By carefully managing their risk and capitalising on a well timed market move, the trader manages the power of leverage to achieve a profitable outcome. However, we conducted a trading test and provided a detailed review based on our firsthand experience for those interested in the trading experience. It also gives them the ability to reach out to customer support right there in Telegram. Those who want to copy, can see who registered on the exchange a long time ago and who joined recently. PrimeXBT also implements swap fees or overnight funding fees when traders hold a position open for an extended period. We will now summarize the key points about PrimeXBT trading fees in a table format for easy reference. PrimeXBT does not accept clients from Restricted Jurisdictions as indicated in our website. The lack of transparency regarding the founders, leadership, and Proof of Reserves is concerning and may deter some traders.

Diego Sanchez

Why It Is Popular: NEO is yet another altcoin that hasn’t yet reached another new all time high, making it a very attractive coin currently. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Beware of their practices that seem to hinder profitability, and consider alternative brokers for a more transparent and reliable trading experience. The Covesting module on PrimeXBT tracks all strategy metrics in a public rating system, such as ROI, daily profit, equity, and total followers. Trustpilot, a popular review site, hosts numerous reviews from PrimeXBT users, offering insights into the platform’s strengths and weaknesses. The platform lets crypto traders place bets on all types of assets available as ERC20 tokens, offering DeFi derivatives trading. Full legal business name of the cryptocurrency exchange. Yes, you can use credit or debit cards to deposit fiat currencies, which are then converted to cryptocurrencies on the platform. En beleg nooit meer dan u zich kunt veroorloven te verliezen. Your review has been sent; it will appear on the website after it is screened by a moderator. An update dubbed EIP 1559 should theoretically cause ETH supply to be much scarcer over time. 2024 00343, having its registered office address at PKF Corporate Services Ltd. Best regards,The PrimeXBT Team. 217308, having its registered address at House of Francis, Room 303, Ile Du Port, Mahe, Seychelles. When using live chat, I usually received a response within 2 minutes. 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. Voorspellingssites, waaronder Wallet Investor, DigitalCoin en Price Prediction, voorspellen dat de prijs zou kunnen opveren en in de toekomst nieuwe hoogtepunten zou kunnen bereiken.

JonathanCortez99

For USDT, USDC and COV the withdrawal fees vary depending on the network used. But that does not change the fact that current XRP price predictions continue to be unpredictable. It aims to prevent the use of cryptocurrencies for money laundering, tax evasion, and financing illegal activities. Australia, Canada, France, Germany, and many more, emphasizing its international reach and commitment to inclusivity in the digital currency. The corporate structure of PrimeXBT is somewhat unclear, as the platform consists of various companies registered in different locations, each providing different services. 32 to send USDT over the BEP20 network. To minimize trading fees, I recommend using limit orders to benefit from lower maker fees. Product and feature support could also be expanded if PrimeXBT plans to compete with more robust trading platforms, though many traders prefer the simplicity of PrimeXBT without all the extra frills and “noise” that overcomplicates many other platforms. Affiliate partners also receive a dedicated dashboard to monitor earnings, dedicated partnership managers, and invitations to exclusive global networking events. One of the many benefits of Bitcoin, is that it allows users to “be their own bank” and manage their assets without the need for a third party intermediary.

Important Notice

PrimeXBT aims to be a global leader in online trading with a focus on crypto futures and CFD. During my testing, deposits were credited promptly but required more network confirmations than exchanges like Binance. PrimeXBT does not offer any free withdrawal options, and their fees are higher than those of Binance, Bybit, or Kraken. Io review for contrast. JPY continues to work as a safe haven under the current geopolitical conditions coronavirus and may work against the BoE lift on GBP. 99% of the programs we list are free to join. 7️⃣ Open your email inbox and confirm the withdrawal. The daily withdrawal limit is $10,000 when opting against ID verification. In full transparency and honesty, I have never been a big fan of the too many offshore and unregulated exchanges that are out there as so many of them can be quite dodgy. This method effectively measures the capability of customer support to assist both active traders and casual investors. In order to access actual crypto currency services, you need to open an account with Baksta through the trading platform and accept Baksta’s Client Agreement. It helps to resolve a lot of issues, especially ones related to poor knowledge about the world of trading. However, the lack of regulation should be considered as a potential risk. This manual verification process, combined with multi signature access Multisig, ensures that fund transfers require the coordinated efforts of multiple employees, reducing the risk of unauthorized access. Our website uses cookies. Unlike Binance or Bybit, you can’t filter by category, but given the limited number of markets, this isn’t a major issue. For a complete list of restricted regions, refer to Section 1. Save my name, email, and website in this browser for the next time I comment.

Worse

My crypto is not being returned. They only have two types of fees, and these are the trade fee and the overnight fee. Customizable trading bots and technical analysis tools. This trading strategy focuses on analysing the support and resistance levels. It’s cool that right on the website there is information about price changes and mini chart for taking a quick glance at what is happeninng. I opted for the LTC/USDT perpetual futures pair and placed a limit buy order, which was executed as soon as the price reached the limit, costing me 0. This makes it an all in one one stop trading shop for a trader looking to trade just about anything except maybe their own grandmother. This fee is relatively standard in the industry, covering the transaction costs on the blockchain. It’s advisable to consolidate withdrawals when possible to reduce the impact of fixed fees and network charges. For those considering investing in Ravencoin, other alternative crypto assets may make for a far better ROI thanks to much healthier projected growth. Despite the limited FAQ section, the platform’s live chat and email form provided quick access to a support agent. Immediately change your password, enable or reset your 2FA, and alert customer support.

Equal

Based college or university and verify your student status through SheerID, a third party verification service. Bitcoin’s Next Move: Will It Break $67K or Remain Below $60K. However, what goes up must come down, and XRP fell below the $1 mark when February 2018 came around. ➡️Cryptocurrencies – PrimeXBT offers 41 cryptocurrencies for trading, providing Namibian traders with a wide range of high volatility trades with potential rewards. Competition: the oracle space is competitive, with emerging projects aiming to provide similar services. Participants cannot leave a contest and rejoin to reset their balance or start anew. Hello Axel,Thank you for your feedback. Taking a closer look at the actual tools that are at your disposal, there are the drawing tools that traders need to map their important levels. PrimeXBT operates in an unregulated gray area, lacking licensing from major financial authorities like the FCA or SEC. Understanding these fees will help you make more informed decisions and manage your trading activities more effectively. Since PrimeXBT focuses on features like CFDs and leverage/derivatives trading, rather than spot trading, comparing it directly with other crypto exchanges wouldn’t be fair. All website traffic is encrypted with secure sockets layer SSL encryptions and account passwords are cryptographically hashed, making them unreadable if the website is infiltrated. Note that in the terms and conditions, it is clearly stated that the company does reserve the right at any time to conduct a verification of a client’s identity or source of funds. The few scores available are largely negative, primarily criticizing the platform for its lack of Proof of Reserves, absence of an active bug bounty program, and overall lack of transparency. Congrats, you’ve been granted an access to the exclusive Crypto 101 Handbook. Keep reading to find out how you can use One Cancels the Other OCO orders to optimise your trading, lower your risk, and seize potential profit. The information on this website is for educational purposes only, and investing carries risks.