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PrimeXBT Platform Review: Exchange Crypto and Earn
Online trading requires some time to be mastered. In addition to this, you need to find a good provider of services and solutions. By introducing this PrimeXBT review, we want to help you discover PrimeXBT copy trading services and other features of this online exchange. Let’s step into the world of online crypto trading!
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What is PrimeXBT?
PrimeXBT is a Seychelles-based entity that provides solutions to satisfy online and PrimeXBT copy trading services. The brand was founded in 2018, and, according to its founders, its unique trading systems aim to make online crypto trading secure and safe for wider audiences. Currently, users from over 150 countries all over the world try to take advantage of the opportunities offered by the company.
PrimeXBT also has an office in St. Vincent and the Grenadines. Unfortunately, its services aren’t available all over the world as there is a number of restricted jurisdictions, including the US, Canada, Japan, France, the Russian Federation, and some others.
Over the course of 4 years, PrimeXBT managed to win the competition against many both emerging and well-established online crypto exchanges. Now, it’s considered one of the best in the market. This is because PrimeXBT is a user-friendly platform with great conditions and profitable opportunities for crypto enthusiasts.
However, advanced crypto trading conditions aren’t the only reasons. PrimeXBT is a multi-asset trading platform where you can access some traditional financial markets, including foreign exchange and stock.
Here are the instruments you can trade on this platform:
- 41 crypto-to-fiat currency pairs;
- 51 forex currency pairs;
- 5 commodities;
- 11 stock indices;
PrimeXBT Copy Trading Platform
One more big advantage of PrimeXBT over other crypto exchanges is the PrimeXBT copy trading platform. Copy trading has a number of advantages for both newbies and advanced traders. The first ones can copy profitable deals and trade more than 80 assets, while the second ones can earn a passive income on the commission from their shared strategies. The platform you will use for PrimeXBT copy trading is called Covesting PrimeXBT.
Covesting PrimeXBT is a unique copy trading solution that is available on not as many platforms as some mainstream software programs for social trading. To start copying deals on Covesting PrimeXBT a trader pay a 1% fee and choose whom to follow. Covesting is very convenient in terms of search and navigation. You can sort out traders by assets they trade, and their yields, examine the performances, the term spent on the platform, and more useful criteria.
One more important thing to mention here is that Covesting PrimeXBT obtains a license from the Gibraltar Financial Services Commission under the 116778 incorporation number. This means security for users of the solution and safe cooperation between PrimeXBT and Covesting.io.
Is PrimeXBT Safe?
The safety of online trading platforms is ensured by several important criteria. Firstly, a platform should have proper regulation under real jurisdiction. The second criterion refers to security in online space. In these terms, PrimeXBT can be considered a safe trading platform. It applies such tools as two-factor authentication and SSL encryption – these are the features that protect users when they are on the website.
As for the security of money storage, PrimeXBT can also be considered a top-notch participant. You can store your crypto funds on both hot and cold wallets. A cold wallet is the safest type of cryptocurrency storage that provides access only through seed phrases.
Despite all the benefits of the PrimeXBT copy trading platform, we guess that traders spend most of their time on the regular trading platform. That’s why to trade efficiently, it’s necessary for you to understand the key peculiarities of the trading platform and its tools.
In our PrimeXBT review, we would like to highlight that in terms of functionality, the PrimeXBT trading platform suits both beginners and advanced traders. It’s a unique software technology that displays plenty of robust tools for analyses and trading.
In the header of the web platform, you will three main sections. The first one will redirect to your account, the second one is where you can get some information, and the third one is where you access assets and trade them.
One more notable feature of the PrimeXBT trading platform is its high level of customization. You can add different widgets and instruments, and even change the design of the board in order to make your trading workspace as convenient as possible.
In widgets, you can find a lot of types of charts, adjust order types, see your trades' peculiarities, add a section with messages, and much more. Widgets can be added or removed from various markets, whether you trade cryptocurrencies or stock indices.
Strengths & Weaknesses
In general, when studying the platform, we noticed more advantages and disadvantages. Obviously, our great first impression was highly impacted by the usability and the level of the PrimeXBT platform’s customization. The more convenient the software solution is, the more chance to benefit from trading you will have and the easier it will be to copy trade a winning position on PrimeXBT.
Is PrimeXBT safe?
Yes, PrimeXBT is safe thanks to many security measures applied. In particular, we like that funds can be stored in cold wallets, where they can be accessed only by those who know special seed phrases.
Can I trade PrimeXBT US?
No, PrimeXBT is unavailable under US jurisdiction.
Does PrimeXBT apply non-trading fees?
Not, all commissions that are charged on the PrimeXBT trading platform are paid for trading services. Non-trading fees, such as entry fees, and deposit & withdrawal commissions aren’t imposed on users.