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PRIME XBT Crypto Margin Trading Exchange review

Prime XBT is one of the new trading platforms that was launched back in 2019. The platform allows traders to benefit from the advantage of trading Bitcoin as well as other cryptocurrencies by using leverage.

Prime XBT very quickly became one of the important players in the cryptocurrency trading world even outrunning major players like BitMex and other big cryptocurrency exchanges.

The main aim of Prime XBT is to solve problems that other exchanges have such as prolonged KYC processes for approval, downtimes, short liquidity, trading problems for failing markets, order type/ types that are limited, not great UE, and of course towering exchange fees.

At Prime XBT you can get great leverage, convenient UI, extensive liquidity and trade volumes.

Leverage at Prime XBT


Experienced traders tend to search mainly for one feature – leverage. Most exchanges offer such a feature but it is very limited considering trading crypto currencies. The leverage rate at Prime XBT is 1:100. What does this mean? For $1, you are getting buying and/ or selling power that is worth $100. This ultimately gives you an entry to a bigger market position – the opportunity to make more profits and respectively losses.

At Prime XBT leverage is a key feature. At the website you can find a comprehensive explanation regarding leverage and it is a great help for those who do not completely understand it.

Prime XBT is a great choice of crypto margin trading exchange for both begginer and advanced traders.

There is an explanation including a BTC/USD example.

  • In it, you assume Bitcoin costs $10,000 for each unit, and the price went up by 5 % throughout your investment.
  • If you are using no leverage exchange, you could have 10 bitcoins for $100,000
  • If the price rose with 5 %, one BTC will be $10,500 so if you decide to sell your 10 BTCs you will have $5,000 profit from your initial investment of $100,000.

Contrary to that, if you make this trade at Prime XBT with the 1:100 leverage, you only pay 1 % of $100,000 which is only $1,000 in advance. What this means is that you will still profit $5,000 but you will only invest $1,000.

At the Prime XBT platform you can learn about the advantages of leverage trading which includes the chance to up your profits, free up your capital to use it for other investments and also gain whenever there is a market fall.

There is also a convenient leverage calculator on PrimeXBT, so you can figure out your buying power based on your available capital.

The only thing you have to think about is that while leverage is increasing the possible profits it also increases the possible losses.

That is why you have to be really careful when you use the max leverage that is offered at PrimeXBT. However, the experienced and confident traders thing that leverage is one of the extremely useful tools.

How To Profit From Movements Of The Markets

You may already know that the crypto currency market is not always increasing and that is why PrimeXBT is offering methods for situations when the market moves. You can trade the popular currencies and at the same time hedging holdings that exist or profiting from rallies and market declines.

With Prime XBT you may go short or long. Going long is buying and going short is selling. Going long means you buy BTC and when the value of BTC increases your account value rises as well. When the price of BTC drops down – your account value decreases.

Going short means that you can open a position and its value will go up if the value of BTC decreases.

Trading at Prime XBT

Except doing short/ long trades and having leverage 1:100, Prime XBT also has extremely user friendly and customizable interface and also supports several monitors.

The crypto currency platform is safe and reliable also super fast. It is great even for beginners but also includes tools that a professional trader would appreciate.

There are many useful chart tools including different types of charts, many drawing tools as well as an option to trade directly via the chart. The trade fees and commission rates at Prime XBT are low. Also there are tight crypto spreads.

Prime XBT Platform For Trading

Тhere is a live platform trading preview at PrimXBT so you can experience how it all works beforehand. An advantage is that this preview is amazingly similar to the actual version.

One of the differences is that there is a label Positions at the bottom of preview screen. With the live Prime XBT account you will see positions list with columns: symbols, positions ID, date and time, present prices, profit take, loss stop and so on.

As this preview option is not account associated, it is blurred and over you can find the register or log in options.

All in all Prime XBT is what you expected it to be because it is quite similar to the trade pages skillful investors are accustomed. On the left top screen side you can see the currency pairs list including USD/ LTC, USD/BTC, USD/ETH, USD/EOS, USD/XRP. You can see the price bid, change and ask prices for each pair. The figures are colored in red, green and white. Green indicates increases and red indicates decreases.

When you click on a pair you will see the buy / sell screen for this crypto pair. The buying/selling prices and the low and the high for the pair will be available also.

Under this section, to the left of the trading screen, there is the Order Book. It shows information for any cryptocurrency pair you recently chose from the top left part.It is split to purchases and sales. Except the prices and quantities list, the Order book also gives the opportunity to see visual graphs representation in red and green. It is very convenient as you can view the ongoing trends.

There is a chart at the trade page’s main section, which sits on the right of the crypto list and the order book. At the top left of this chart you are able to see the currency pair that is represented.

This can be adjusted when you click the box where the pair is listed and type the new crypto pair / there is also an auto fill option/ or when you click on the cryptocurrency pair located in the left of the listing crypto section.

Prime XBT Trade Charts

The default chart at prime XBT is a candlestick one. It is red and green showing prices vertically and time horizontally. Pointing over the chart show the particular time and date, high and low, open/ close and the value.

The time span can be increased or decreased when you adjust the graph time which is under the main chart. Most of the settings are found at the top of this chart.

There is a menu via which you can make candlestick interval change. Default time is set to 5 min. but there is the option to change to 1, 15, 30 min. or choose a day, a week, or a month. Left of this you can find an option for switching the candlestick chart to graphs – line or bar.

Also there are options for crosshairs. Traders can choose from long and short or from different indicators, tools and lines including trend lines and channels, tools such as Fibonacci Rays and many more.

For experienced traders there is a section called Studies which can be accessed from a test tube icon right of the mentioned options above and left of section Studies. You have a choice of many studies available or to add your personal study. You can use 5 at a time.

The methods for trading at PrimeXBT are two. At the left side of the page you may click on the pair you chose and fill the information in the box that pops up. Alternatively you have the option to use a section at the left top chart corner, under the pair’s name.

Fees and Limits at PrimeXBT

The platform has 2 types of fees, finance overnight and trading. As instruments count as a leveraged product you have to finance the value traded via overnight finance.

This financing depends on the underlying asset’s liquidity. If, however, you open or close leveraged positions in the same trade day, you are exempt from financing overnight option.

The limit of exposure is restricting the size of a different position every client can have with the platform PrimeXBT. The trade platform will not let traders placing orders exceeding this limit if carried out.

This restriction is put in place by the department of risk management of Prime XBT and is depending on important factors like the liquidity of the instrument, volatility and couple of other market and trading conditions.

SymbolsMinimum size of the orderMinimum sife of order changeMaximum single size of tradeMaximum exposure
BTC/USD0.01 BTC0.01 BTC15 BTC-$3.9 per 1 BTC
ETH/USD0.01 ETH0.01 ETH200 BTC-$0.13 per 1 ETH
LTC/USD0.01 LTC0.01 LTC650 LTC-$0.03 per 1 LTC
XRP/USD1 XRP0.01 XRP55000 XRP-$0.00038 per 1 XRP
EOS/USD1 EOS0.01 EOS8500 XRP-$0.0025 per 1 EOS

Conclusion

As we all know the trading space for cryptocurrencies is a crowded one and Prime XBT has created one firm offering.

Prime XBT trade platform is extremely easy for use, has low commission fees, spreads are tight and the leverage is market-leading at 1:100. Although a new exchange Prime XBT proved to be one of the growing ones and also with a great reputation in the cryptocurrency trading world.

Of course, as this is an exchange that offers leverage, be sure to proceed with it cautiously if you haven’t tried this kind of trading before. It is very easy to mess things up and end up with liquidation and loss of the cryptocurrency you own, especially if you are using towering leverage amount.

FAQ

You can trade cryptocurrencies, Indices, Forex and Commodities.

  • Cryptocurrencies - 0.05%
  • Indices and Commodities - 0.01%
  • Forex - 0.001%

Yes, you can download the iOS app via the Apple store and the Android app via Google store. Prime XBBT web version works on all browsers and doesn’t require any downloading or software.

No. At the moment, PayPal transfers are not available.

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