PrimeXBT is a cryptocurrency exchange registered in the Seychelles under the name Prime XBT trading services.

PrimeXBT is a BTC-based margin trading platform, offering leverage trading with instruments from numerous markets. They offer up to x1000 leverage which allows to maximise profit potential and profit from both rising and falling markets, through CFD contracts (Contract-for-difference)

They opened the platform early 2019 and have been implementing a wide range of tradable assets over time.

 

Tradable Assets
One of the most impressive aspects of PrimeXBT is the fact that they offer a wide and diversified range of assets. Not only large cap cryptocurrencies are available for trading but also Forex, commodities and stock indices.

Available crypto instruments include: BTC/USD, ETH/USD, ETH/BTC, LTC/USD, LTC/BTC, XRP/USD, EOS/USD, EOS/BTC.

Forex instruments include: EUR/USD, EUR/AUD, EUR/JPY, EUR/CAD, EUR/CHF, EUR/GBP, GBP/USD, GBP/AUD, GBP/JPY, GBP/CAD, GBP/CHF, USD/CAD, USD/CHF, USD/JPY, AUD/CAD, AUD/CHF, AUD/JPY, AUD/USD

Commodities include: XAG/USD, XAU/USD, BRENT, CRUDE, NAT.GAS

Stock indices include: GER30, SP500, NASDAQ, HK-HSI, AUS200, NIKKEI, UK100

 

Trading Fees
The fee structure is more similar to what you can find on a CFD platform than on a futures exchange.

There only have two types of fees:

trade fees
overnight fees
 

Basically, it means that you are charged for entering a position and for keeping it overnight (if you don’t close it before).

 

Referral Program
PrimeXBT offers a referral program where you will earn commissions from direct referred traders but also from level 2, level 3 and level 4 referred traders.

It is far better than most competitors which don’t offer these multiple level referrals.


 

PrimeXBT Turbo
With the turbo platform, PrimeXBT basically offers you the possibility to “pick a side“ (up or down) on an asset over a defined period of time for a fixed gain.



Concretely, if you think that BTC/USD is gonna go up within the next 5 minutes, you can take a “long“ position and while have to hold it until the end of expiry. If you are right and the printed candle is green, you get paid proportionally to what you have put on the table (up to +90%).

If you are wrong when the contract closes, you lose your initial investment.

You are offered 3 different duration options:

30 seconds
1 minutes
5 minutes
 

And this feature is currently available for the following pairs: BTC/USD, ETH/USD, EUR/USD, GBP/USD, EUR/JPY, USD/JPY.

The potential profit varies depending on the expiry and you always play with a limited downside risk as explained above. You can’t lose more than what you initially bet.

On top of that, PrimeXBT set up a leaderboard to make the experience more entertaining and let you compete directly with other traders.

Overall it is a cool product that needs to be used with caution as it can become addictive quite quickly.

 

Covesting
The covesting module is their new flagship product. It gives you the opportunity to automatically copy-trade traders showing a positive track record and it also allows you to start your own fund.



For example, if you are too busy to day trade but would like to passively invest in someone doing it. You can select a trader rated through different metrics such as capital, daily ROI, all-time ROI.

On the other end, if you are a very good trader with an impressive track record, you can apply to manage funds. You will get additional capital to trade and a percentage of the generated profits.

 

Slippage and Liquidity
Lack of liquidity is the biggest problem that new exchanges have to face when they star. But it got tackled very easily by pooling liquidity from the 12 largest exchanges in the industry.

The best possible rates are maintained and slippage is less likely to occur or at very least minimized.

PrimeXBT also has a powerful trading engine executing orders at less than 7.12 milliseconds on average. Which also participates in reducing drastically the risk of slippage.

 

Conclusion
PrimeXBT really brings something new to the industry as it allows traders to trade multiple asset classes alongside cryptocurrencies. It is something we have seen in the past but not offered with such a fluid experience.

The unique features the platform offers make it a real competitor to the leading exchanges.

And if you like to diversify as a trader and use 2 or 3 different platforms, this one could definitely be a great addition to your “portfolio“ of exchanges

You can register here   https://primexbt.com?signup=202787