PrimeXBT Exchange: An Overview of the Cryptocurrency Margin Trading Platform

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PrimeXBT is an international trading platform that allows you to trade Forex, commodities, indices and cryptocurrencies from one account. Leverage up to 1: 1000 and opening long, short positions are available for use. The exchange has a very high level of confidentiality of user data, there is no need to undergo KYC verification.

Official site: primexbt.com

PrimeXBT has a high level of liquidity, which ensures fast and convenient trading of popular cryptocurrencies (Bitcoin, Litecoin, Ripple, Ethereum, etc.). You can hedge assets and profit from the rise or fall of the market. In addition to cryptocurrencies, a large selection of instruments is available (over 80 pieces).

The site has a simple, flexible and easily customizable interface – suitable for both experienced traders and beginners. Numerous analytical tools help in trading.

Information

Stock exchangePrimeXBT
Official siteprimexbt.com
Operator / Service ProviderPrimeXBT Trading Services Ltd; Prime Technologies Ltd.
Yur. registration (operator / service provider)Seychelles company nr. 206865 and Saint Vincent and the Grenadines nr. 25369BC2019; Saint Vincent and the Grenadines company nr. 25369BC2019
Free demo accountOpen demo account
Russian languageYes
Year of foundation2018
Emailsupport@primexbt.com
Declared trading volume (01/08/2019)$112,746,229
Exchange tokenNo
Trading commission0.05% (fixed)
Account currencyBitcoin (BTC)
Minimum deposit0.001 BTC
Withdrawal regulationsApplication processing from 12:00 to 14:00 UTC
Withdrawal commission0.0005 BTC
Working with fiat moneyYes, via VISA / Mastercard
Number of assetsOver 30
Cryptocurrency pairsBTC/USD, LTC/USD, ETH/USD, XRP/USD, ETH/BTC, EOS/USD, LTC/BTC, XRP/BTC, EOS/BTC
Margin tradingYes
Maximum leverage1000х
Margin leverage for cryptocurrency pairsup to 100x
Ordersby limit, by market, OCO, stop order
Mobile appYes
Professional chartsYes
TrainingYes, video tutorials
Supportsupport@primexbt.com
Two-factor authenticationYes (Google Auth)
Cryptocurrency storageCold Wallet
Bitcoin walletMultisig
Social the networkhttps://twitter.com/primexbt; https://www.facebook.com/primexbt/; https://www.reddit.com/r/primexbt; https://t.me/primexbt

Registration on primexbt.com

Instructions for registering on the PrimeXBT exchange:

Click on the “Register” button in the upper corner of the primexbt.com website.

Fill in the proposed fields and click “Register”, having previously confirmed your familiarization with the terms and policies of the resource.

Select your country of residence.

Confirm your email address.

Personal Area

The account management cabinet on PrimeXBT looks like this:

The first page contains general information about the current state of the account.

On the next two tabs, you can top up your balance or withdraw money.

On the fourth – to get acquainted with the information about the affiliate program and track the activity of referrals.

реферальная программа криптобиржи PrimeXBT

The last tab contains system settings. You can change your password, enable two-factor authentication via Google Auth, set up notifications and view the history of recent visits.

Safety

The PrimeXBT exchange ensures the safety of its users’ assets using a set of measures, including:

✅ After each executed order, a full system risk check is performed.

✅ Digital assets are stored offline using Multisig technology.

✅ The traffic is protected by SSL encryption.

✅ Cloudfare protects against DDoS and other distributed attacks.

✅ A whitelist of BTC wallets is used.

✅ You can connect two-factor authentication to access your account.

To ensure that all security systems are working properly, the team conducts regular tests and checks.

Referral program

The affiliate program on the PrimeXBT platform includes four levels, with the help of which you can build a full-fledged business without initial investment.

The referrer receives:

  1. 20% from commissions of a direct referral (1st level).
  2. 15% from commissions of a referral of the 2nd level.
  3. 10% from commissions of a referral of the 3rd level.
  4. 5% from commissions of a referral of the 4th level.

Such a business can be very profitable – there are examples of earning up to $ 10,000 on PrimeXBT only on the referral program.

Deposit and withdrawal of funds

The account on the PrimeXBT exchange is replenished in Bitcoins. To make a deposit, you can use the address or QR-code by scanning it in your mobile wallet, or pay the bill manually through the selected payment system supported by the Changelly operator. The use of debit or credit cards Mastercard / VISA is available.

You can buy Bitcoin for transfer to PrimeXBT using cryptocurrency exchangers or exchanges, for example, EXMO, LocalBitcoins.

To withdraw funds, it is enough to indicate the address of the desired wallet and the amount. Payments are made once a day at 12-14 hours.

Trading on PrimeXBT

To start trading on the PrimeXBT platform, you need to do the following:

  1. Top up the wallet in BTC (when replenishing from bank cards or other sources, it is automatically converted to BTC at the current rate).
  2. Transfer funds to a trading account. This is done by clicking on the “Fund a trading account” button in the Personal Account.
  3. Go to the “Trade” tab to access a terminal with real-time information and numerous functions.

You can immediately start creating orders or pre-configure the terminal by adding the necessary widgets.

PrimeXBT offers a fully customizable trading space that can be spread across multiple monitors. The default layout can always be changed by adding widgets to it that match the user’s trading style.

By clicking on the Add Widgets button, you can access the following tools:

✅ Chart. Opens a trading chart in the work area. You can use it to track the state of the market, for technical analysis, to place new orders and control the already created ones.

✅ Tracking market data for cryptocurrency pairs. You can also create a new order from this widget.

✅ Dashboard. Provides direct access to the order form for self-selected trading pairs.

✅ Position. Information about current open orders with the ability to edit them.

✅ Orders. Tracking, configuring and canceling active orders.

✅ Trades. History of all executed, deleted or rejected orders.

✅ Messages. History of system warnings and messages.

In addition to adding or removing widgets, you can drag them around the screen.

At the moment, the site supports the following assets and trading instruments:

Types of orders

PrimeXBT offers traders several different order types to enhance their trading and risk hedging options:

  1. Market. An order that is instantly executed at the first available price. It is used by traders when it is necessary to urgently buy or sell an asset. This type is set by default in the order creation form. The customer only needs to enter the amount to buy or sell.
  1. Limit. In this case, the trader can himself specify the price for which he is ready to sell / buy the asset. But if the exchange rate does not reach this level, then the order will not be executed. In the order creation window, this is the second item in the drop-down list. It is necessary to enter the amount and the desired price, as well as select the life of the order – if it is not executed before its expiration, it will be deleted.
  1. Stop order. An order that allows you to perform an operation at the moment when the rate reaches a given price. At this second, the stop order becomes the market one and is executed. It is a good risk management tool.
  1. OCO order. A conditional order is executed only when certain conditions are fulfilled. This is a hybrid of a limit with a stop order.

For any new order, you can set up additional stop loss or take profit protection by checking the corresponding box.

This can also be done for already existing applications. The order is set up by clicking the “pencil” in the list.

In addition, you can click on the red or green line on the information chart to bring up the order editing window.

Commissions, limits, trading instruments

There are two types of commissions charged on the Prime XBT platform: trading (fixed) and for the use of credit funds when trading with leverage (daily).

Commissions for cryptocurrencies:

Minimum and maximum order size:

Trading instruments:

Margin requirements for BTC / USD and ETH / USD:

What is long and short

Long (long position) is a way of buying a cryptocurrency with the expectation of its further growth and with the intention of selling it in the future. For example, if a person buys Bitcoin, then as the exchange rate of this currency increases, the value of his account also grows, and vice versa. You can enter a long position by executing a market order to purchase a crypt at the current rate or by placing a limit order at a price far from the current one.

Short (short position) implies an increase in the value of the account while the price of the cryptocurrency decreases. A short position means that a trader is selling coins, expecting a fall in their rate, in order to buy again later. You can enter short in the same way as in long, but only by selling, not buying.

Margin trading

PrimeXBT enables traders to work with larger positions than their finances allow – leverage is used for this. The “leverage” method involves the use of credit when purchasing an asset in order to increase the expected profit. All PrimeXBT users are automatically eligible for leverage.

There is also the concept of margin. Margin is the amount of the user’s own assets, which is needed to gain access to borrowed funds. This is the minimum possible amount so that the position is not liquidated. Advice to traders – never use 100% of the available margin and try to maintain a cushion.

For cryptocurrencies, the leverage on PrimeXBT is 100x, for Forex 1000x.

Advantages and disadvantages

Pros

✅ Low fees for both makers and takers.

✅ Large leverage available.

✅ Traders from 150 countries of the world can become clients.

✅ A wide selection of assets for trading: cryptocurrencies, forex currencies, stocks, raw materials.

✅ You can fund your account using debit or credit cards through Changelly’s built-in exchanger.

✅ A four-level referral system that allows you to create a full-fledged business and receive passive income.

✅ Much attention is paid to safety.

✅ Anonymity, lack of KYC verification.

✅ Large trading volumes (declared).

✅ Open long and short positions, even one instrument at a time.

✅ 12 liquidity providers.

✅ Placement of take profit and stop loss.

✅ There are technical analysis tools.

✅ 24/7 support service.

✅ Mobile app.

Cons

❌ Video tutorials are not translated into Russian.

❌ There is no information about the guide.

❌ No API.

Conclusion

PrimeXBT is a clear, simple and secure trading platform. A large number of functions and tools does not in the least interfere with the intuitive management of the site, so the exchange will be of interest to both beginners and experienced traders.

The platform infrastructure supports a large number of operations per second and is designed for extreme loads. Performance coupled with a high degree of information accuracy are the main indicators that the PrimeXBT exchange deserves attention.

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