By Bitcoinist - 11 months ago - Reading Time: 5 minutes
PrimeXBT crypto futures: A detailed review 2023
PrimeXBT is a popular crypto futures trading platform that offers users the ability to trade various cryptocurrencies, traditional asset CFDs, try copy trading, and participate in trading contests.
Launched in 2018, PrimeXBT has quickly grown in popularity among traders looking for a reliable and user-friendly platform that offers high leverage and competitive fees. Let’s take a look at what’s new in 2023 in this detailed review.
Getting started with deposits and withdrawals
At PrimeXBT, users have access to a diverse range of deposit and withdrawal options that cater to their specific needs and preferences. Whether you prefer to deposit funds in Bitcoin, Ethereum, Tether, USD Coin, or other popular cryptocurrencies or through fiat accounts in USD or EUR, PrimeXBT has you covered.
One of the most attractive features of PrimeXBT is that no minimum deposit is required, which means that traders can start buying crypto right from the platform and begin trading immediately. This bonus promotion is a fantastic opportunity for traders to explore the platform’s capabilities and initiate their journey into crypto futures trading.
Withdrawals are also straightforward, with traders able to withdraw their funds in the same currency they deposited. PrimeXBT values user security and implements two-factor authentication (2FA) for all withdrawal requests, providing peace of mind to its users.
Furthermore, PrimeXBT currently offers an exciting promotion for traders who want to start their journey with the platform. By depositing $500 or more, traders can claim a bonus of $100 within 48 hours of registration. This promotion is an excellent opportunity to maximize your trading
potential and make the most of your experience with PrimeXBT.
Why choose PrimeXBT crypto futures?
PrimeXBT futures trading platform boasts a user-friendly and intuitive interface, providing traders of all levels with the necessary tools to succeed. The platform offers advanced charting tools that allow traders to monitor and analyze market trends with ease. Additionally, a range of order types, such as limit, market, and stop orders, provide precision and flexibility for executing trades.
The order placement process is seamless and straightforward, ensuring that traders can quickly and efficiently enter the market. Moreover, real-time market data is readily available to help traders make informed decisions and gain a competitive edge in the fast-paced world of crypto futures trading.
PrimeXBT offers the choice between cross and isolated-margin trading, with leverage enabling traders to open significant positions with much smaller amounts of capital than what would typically allow. The leverage options are impressive, reaching a maximum of 1:200 on crypto and up to 1:1000 on traditional assets, providing ample opportunities for traders to maximize their profits.
In terms of trading fees, PrimeXBT charges highly competitive rates for cryptocurrency futures contracts, with most pairs incurring a nominal fee of 0.05%. Furthermore, traders must pay a funding rate every 24 hours, which varies depending on the trading pair.
The funding rate for most pairs is 0.0694%, while for BTC/USD and ETH/USD, it’s 0.0389%. These rates are subject to change based on market conditions and serve as a mechanism to balance long and short positions in the market, ensuring fair trading conditions for all users.
At PrimeXBT, user security is of utmost importance, and the platform employs industry-standard security measures to ensure the safety of user funds and personal information. PrimeXBT utilizes two-factor authentication (2FA) for account access and encrypted data storage to keep sensitive information safe and secure.
Supported cryptocurrencies and traditional asset CFDs
PrimeXBT supports an extensive range of cryptocurrencies for futures trading, including major coin futures like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), as well as numerous altcoins.
The platform continually adds new assets based on market demand and trends, with currently supported cryptocurrencies including Cardano (ADA), Algorand (ALGO), Cosmos (ATOM), Avalanche (AVAX), Axie Infinity (AXS), Binance Coin (BNB), Dogecoin (DOGE), Polkadot (DOT), Elrond (EGLD), EOS (EOS), Filecoin (FIL), Fantom (FTM), Helium (HNT), Internet Computer (ICP), Klaytn (KLAY), Chainlink (LINK), Decentraland (MANA), Polygon (MATIC), NEAR Protocol (NEAR), The Sandbox (SAND), Shiba Inu (SHIB), Solana (SOL), Theta (THETA), Tron (TRX), Uniswap (UNI), VeChain (VET), Stellar (XLM), Monero (XMR), Ripple (XRP), and Tezos (XTZ).
PrimeXBT’s platform also offers traders access to traditional asset CFDs, including forex, commodities, and stock indices. Newly added base industrial metals like copper were a nice touch to add more variety overall.
By offering cryptocurrency and traditional asset trading on a single platform, PrimeXBT provides traders with greater flexibility and convenience. Traders can diversify their portfolios by taking positions in multiple financial markets, all in one place.
Extra features available from a single account
PrimeXBT understands the importance of providing traders with a variety of resources to help them succeed, and that’s why they offer a copy trading feature that’s truly revolutionary. This feature enables traders to follow and copy the trades of top-performing users on the platform, thus making it easier for them to learn from successful traders and diversify their trading portfolios.
Traders can browse a list of top-performing users on the platform and view their performance over time. Once they’ve identified a top-performing user to follow, copying their trades is a breeze with just a few clicks. This feature is particularly beneficial for novice traders needing more experience and knowledge to make profitable trades independently.
Moreover, the PrimeXBT Academy provides traders access to a wealth of educational resources such as articles, tutorials, videos, and webinars on various topics, including technical analysis, risk management, and trading psychology.
Hosted by expert trader Dirk Hartig, the Trading Academy is designed to provide traders with a structured learning experience that covers everything they need to know to become successful traders. With a presence on YouTube, the Trading Academy is an invaluable resource for traders who want to enhance their skills and achieve their financial goals.
To add excitement to the platform, PrimeXBT contests offer traders a chance to showcase their trading skills and compete for valuable prizes. The platform provides risk-free demo funds, allowing traders to practice their strategies and test their trading abilities against other traders.
Signing up for the contests is easy, and traders can register right from their PrimeXBT dashboard. They can participate in multiple contests simultaneously, and the results are updated in real-time on the leaderboard, adding to the thrill of the competition.
PrimeXBT review conclusion
In conclusion, PrimeXBT is a trading platform that offers an array of features designed to cater to traders of all levels. With a user-friendly interface, advanced charting tools, and various order types, trading on PrimeXBT’s crypto futures platform is straightforward and efficient. The platform also offers a wide range of cryptocurrencies and traditional asset CFDs, making it easier for traders to diversify their portfolios.
PrimeXBT also provides traders with additional features such as copy trading, educational resources, and contests, all from a single account. By offering traders the ability to follow and copy the trades of top-performing users on the platform, PrimeXBT makes it easier for novice traders to learn and gain experience. Additionally, the Trading Academy provides educational resources, and the contests offer traders a chance to compete and win valuable prizes.
Original source: Bitcoinist