Nowadays it is not so easy to find a universal exchange to market all the instruments of the financial market with a high degree of security.
You will have to be satisfied with either traditional Forex trading providers intentionally tied to the dollar and requiring disclosure of all personal information at the time of registration, or becoming a client of one of the cryptocurrency exchanges, and whose assets consist of nothing but cryptocurrencies. The market is notable for the fact that companies try to combine all possible financial instruments in one place and do it in a safe way for the consumer.
This review is dedicated to the PrimeXBT trading platform, which offers such hybrid product with a unique next-generation Bitcoin trading standard, allowing you to participate in the exchange of cryptocurrencies in the Forex market, including stock indices, commodities and precious metals from a single account.
Founded in 2018, the company dedicated itself the previous year to the confident promotion of business services on the world market and has been quite successful in this. Traders in more than 170 countries prefer the PrimeXBT platform to others and execute their market orders using the company’s terminal. PrimeXBT business growth has been characterized by the opening of new offices, particularly in Saint Vincent and the Grenadines, ensuring maximum liquidity ratios for clients (the company currently uses more than 12 suppliers) and has established a friendly, safe and efficient business environment.
The PrimeXBT statistics speak for themselves:
- Average daily trading volume is approximately $ 375 million
- Up to 12 thousand market orders are executed every second through the platform
- Average order execution speed is less than 7.12 ms
Platform information and registration
The platform website https://primexbt.com is available in 8 languages (English, Spanish, Chinese, Korean, Portuguese, Russian, Turkish, and Japanese). Its sections describe in detail all the registration and marketing procedures, and customers have at their disposal a section of frequently asked questions (FAQ) with the main questions of platform users who access the site for the first time. Registering on the site takes less than a minute and only requires an email.
First of all, you need to determine a terminal that is suitable for you and that is available in several variants: the web browser version for PC and MAC, and the Android and iOS applications.
How to deposit funds and withdraw your earnings
After registering, you will go to the main tab of your personal terminal account. On the left is your cold wallet balance, which is still at 0. The top line indicates all funds, the bottom line the free funds for withdrawal or to participate in trading. A little lower is the status of your account. The more you operate, the higher this status and, consequently, the discount interest at commercial rates, which the platform provides to active operators. On the right you can see the details of your trading account balance. To start trading, you need to make an initial deposit of 0.001 BTC. To do this, go to the next menu tab on the left called Deposit.
On the left is the address of your bitcoin wallet on the platform for direct transfer of funds in bitcoins. If you don’t have your own bitcoin wallet, the Changelly service built into the platform (the service charges up to 10% as conversion fees) will help you buy bitcoins, even using credit cards. Note the white box on the right, where you can see the rate at which you can exchange dollars for bitcoins with this service and, for example, with your credit card. The next tab of the menu on the left is dedicated to the withdrawal of funds, organized according to the same principle and so far useless for you.
Please note that there is a fixed fee of 0.0005 BTC for withdrawals, which is charged by the Bitcoin network. Thus, the more funds you have to withdraw, the lower the cost of this withdrawal in percentage. Pay attention to the last point in the menu on the left: the system settings, with which you can additionally protect your account by changing your password, setting up two-factor Google authentication and even connecting a Telegram Bot, which will warn you about changes in the market and inform you of the status of your open positions.
In the event that 2FA two-factor authentication is activated, it will act both when participating in the commercialization and in the deposit and withdrawal operations. Each client is protected twice: personal privacy (registration) is accompanied by greater security of all financial transactions.
Security issues are probably the most important part of PrimeXBT business, pay attention to this part of the site page, which emphasizes that the operational part of the platform is developed on Amazon servers that do not need a special presentation.
How to trade and what tools to use
The PrimeXBT trading terminal allows you to execute traditional market orders (Buy, Sell, Buy Limit, Sell Limit, Buy Stop, Sell Stop) as well as OCO orders (One-Cancels-The-Other), which you will not find among many competitors. The toolkit operator consists of the following list of pairs of operations:
- The basic pairs of cryptocurrencies with respect to Bitcoin (ETH, LTC, XRP, EOS)
- Currency pairs to invest in Forex in different combinations (AUD, CAD, EUR, GBP, JPY, USD)
- The main cryptocurrencies against the US dollar (ETH, LTC, XRP, EOS)
- The world stock indices (AUS200, GER30, HK-HSI, JAPAN, NASDAQ, SP500, UK100)
- Commodities against the US dollar (BRENT and CRUDE oil, NAT.GAS natural gas)
- Precious metals against the US dollar (XAU gold and XAG silver)
On the left is a complete list of trading pairs, the display of which can be limited by the filter, for example only for cryptocurrencies or pairs to invest in Forex. In general, PrimeXBT developers approached the creation of their terminal in such a scrupulous way that it may take several hours for their study. But as you study it, an endless world of possibilities will open before you. Everything is well thought out and functional.
At the top of each graph are the red (SELL) and green (BUY) buttons, which allow giving the commands for executing the corresponding commands. By default, the buttons are configured in such a way that after pressing them a window will open to specify the details of the order. You can select standard orders from all providers (Buy, Sell, Buy Limit, Sell Limit, Buy Stop, Sell Stop) as well as the unusual PrimeXBT OCO platform order (One-Cancels-The-Other) which allows you to close the previous operation, opening the order in the opposite direction.
In the same window, the lot size is selected (for BTC / USD it is 0.01 minimum) and the command to execute it is sent by pressing the blue button. I will focus on the insidious feature of all terminals that have the ability to disable the complex process (in the form of a separate window) to issue a command for its execution. Above the graph is a button with the Regular Trading tabs, which changes the system to operate in 2 clicks or one click. Be careful with it! If you remove the corresponding constraints, the order will start executing after a single click on the green/red button.
How can you earn with PrimeXBT in addition to trading operations?
Even if you have not registered with PrimeXBT as an operator, you still have the opportunity to make money with the company. Bring an operator you know who is willing to change the provider of your trading tools, and you will get a bonus from the platform. The same applies to representatives of webmasters and internet traffic arbitrators, who have already become traditional professions. The PrimeXBT affiliate program was created especially for them (pay attention to the Affiliate Earnings tab in the menu on the left of your personal account, 3rd in the order of this summary, that’s what it is all about), which allows you to attract new operators to the PrimeXBT platform and obtain benefits, both once for the first deposit, and permanently as part of the amount of the commissions of their commercial transactions.
Registering on the platform of a future partner is not much more complicated than that of an operator: a form is filled in with their email address and their contact on Skype or Telegram. After registration, the new partner shares their personal referral link with a new PrimeXBT client, the client follows the link and registers on the platform’s website. The client then participates in trading on the platform and pays the commissions at the opening (closing) of the transactions. As a result, the partner receives a fixed income for the first deposit from the operator and (or) up to 70% of the amount of their commissions.
PrimeXBT is an innovative Bitcoin trading platform aiming to successfully operate in the financial markets, both with cryptocurrencies and with traditional trading tools. Minimum commissions, security for each operator and their funds, cross-platform implementation of the trading terminal with perfect functional content, a well-thought-out affiliate program are the distinctive features of PrimeXBT.