As a new crypto trader, the PrimeXBT platform is one of the options you need to know about. This is one of the best trading platforms in the crypto industry and offers features that take the trading experience of the users to the next level.
Whether you are interested in buying crypto or trading it, it is crucial that you take your time and learn about your possible options. This means getting an idea of which kind of exchanges are available for you in the industry and which of them is the best one for you.
This can be easier to identify if you know the kind of exchange you are looking for and you also explore the features and services offered by a prominent option, such as PrimeXBT.
Therefore, if you take a look at this PrimeXBT exchange review, you can get a good idea of the features it offers and make an informed decision accordingly.
Brief Overview of the PrimeXBT Platform
Launched in 2018, PrimeXBT has become one of the top platforms in the crypto trading community. Over the years this platform has achieved record-breaking growth and is now one of the best options for every kind of trader, especially the new ones.
This is a crypto-to-crypto exchange that offers several investment options and enables the traders to choose from a variety of asset classes.
As a user of the exchange you can trade different assets including CFDs, forex and cryptocurrencies. It has one of the farthest reach in the crypto space as it extends its services to more than 150 countries around the world.
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The PrimeXBT platform is such an exchange that makes crypto trading easier for everyone, thanks to its user-friendly interface. There are several crypto trading platforms in the crypto space but not all of them have a simple and straightforward interface. Some are more complex than one might anticipate, making it difficult for new traders to trade crypto assets.
However, one of the selling points of PrimeXBT is that this crypto exchange is not only beginner-friendly but it has a customer-centric business model.
It uses several high-end trading tools, latest analyses and more that facilitate the users who want to trade digital assets. Therefore, if you are new to the crypto space and want to trade crypto assets then you can opt for PrimeXBT.
This PrimeXBT exchange review highlights the fact that the platform supports the trading of both major and minor forex currency pairs. This makes it a versatile and powerful trading platform.
Some of the forex currencies supported by the PrimeXBT platform include the following:
- US Dollar
- Swiss Franc
- Japanese Yen
- Canadian Dollar
- British Pound
- Australian Dollar
Leverage Trading Supported
This trading platform also supports leverage trading, which is an advanced trading strategy and is widely used by the traders as well. If you are interested in leverage trading, you should learn more about the concept and carefully opt for an exchange.
PrimeXBT not only supports leverage trading but the leverage ratio it offers varies according to the asset class chosen by the users.
- For digital assets, the leverage ratio available is 1:100
- For commodities and forex indices, the leverage ratio is 1:1000
Fee Charged by the Exchange
The fee structure of every exchange is important to explore before you opt for it to trade or invest in crypto. Checking out the fee structure of the PrimeXBT platform is no exception because it is important to know how much fee you will be required to pay if you use it.
It is known to charge one of the lowest fees in the market, which is also free of any kind of hidden or additional charges.
- For trading forex pairs the fee charged is 0.01%
- For trading digital currencies the fee charged is 0.05%
One of the ways this exchange makes crypto trading easier and convenient for every user is thanks to the availability of the Covesting feature. This PrimeXBT exchange review addresses the benefit of the Covesting feature.
This feature supports copy trading, which means the new or occupied traders can trade by automatically copying the trades of the experts. This feature allows people to be included in crypto trading even if they do not have any prior experience or lack the time to monitor the markets and manually open trades.
The PrimeXBT platform is an outstanding exchange that offers several impressive features to the users. The details mentioned above are the features of the platform discussed in detail. This information can help you determine if it is a suitable exchange for you to use.