PrimeXBT is a brand making waves recently, letting traders short Bitcoin and the stock market during the recent downtrend while still allowing them to go long when the market is ready to rebound.
Beyond margin trading more than 100 different trading instruments, the award-winning platform provides several additional features, all boasting advanced technology not found anywhere else in the market.
Here is our full review and an in-depth look at everything the platform has to offer.
About PrimeXBT advanced trading tools
PrimeXBT first exploded on the scene in 2018 and quickly became a popular choice for cryptocurrency traders during the Bitcoin bear market. Platforms that offered short positions were particularly popular at that time.
When the crypto market went into an uptrend, PrimeXBT remained a strong competitor, adding access to traditional assets and building its altcoin lineup and innovative features. Other platforms like Coinbase and FTX grew in popularity as buying assets became profitable, but with crypto back in a downtrend, the order books on the two spot platforms are now thin.
Short the market while the sky is falling
Traders are back to flocking to PrimeXBT because the money is now in going short. With recession risk being so high, shorting Bitcoin and popular stock indices could be the only way to profit from these assets in the near term, or possibly longer. This is why being on the right side of the trade is critical and yet only possible with the right trading tools.
The platform also features built-in technical analysis tools, stop-loss protection orders, and the highest leverage in the industry. Leverage allows traders to open positions with much more size than their capital would typically allow for and make more money from every trade. Risk management tools and proper planning can help to minimize potential losses.
100+ trading instruments for your portfolio
Users of all skill levels can build a risk-averse portfolio or build positions that hedge against further downside in markets. The platform offers more than 100 trading instruments under one roof and from a single account.
Trading instruments include forex, crypto, stock indices, and commodities. Majors, minors, and exotics round out forex currencies. Everything from the S&P 500 to FTSE in global stock indices is represented. Bitcoin, Ethereum, and a massive list of trending altcoins are offered. Finally, commodities like gold, silver, natural gas, Brent, and crude oil are included.
Advanced technology under the hood keeps the engine running
Advanced technology keeps the trading platform ultra-fast, reliable, and with as much as 99.9% uptime. Orders execute fast and without slippage. It all operates on bank-grade infrastructure, and that means powerful security protocols.
PrimeXBT also utilizes a proprietary cold storage process for customer funds. This makes withdrawals take up to 24 hours, but it is in exchange for virtually hackproof safety. Further security is provided through compulsory address whitelisting and two-factor authentication.
Innovative Covesting products and services included
Innovative services provided through a partnership with European DLT services provider Covesting are also exclusively available at PrimeXBT. The Covesting copy trading module was the first to launch and enables a peer-to-peer copy trading community centered around a fully transparent global leaderboard system. Strategy managers rank by ROI, while followers use the list to pick which strategies to copy.
Covesting is also behind the breakthrough technology that makes DeFi simple for the first time. Covesting yield accounts connect directly to top DeFi protocols from within the PrimeXBT account dashboard. Once connected, users can stake idle crypto assets in exchange for an ROI in crypto rewards. Variable APY can reach up to 14% during peak conditions.
Learn to trade and practice with PrimeXBT tools
PrimeXBT is also packed with opportunities to learn and improve. The PrimeXBT Trading Academy leverages the expertise of 20-year career trader Dirk Hartig, who has developed a complete educational platform designed for traders of all skill levels. Hartig also provides regular market updates to keep traders abreast of the latest developments and factors influencing the trend.
Users can then take what they have learned and put it to the test in simulated real-time market environments using PrimeXBT Contests.
The Contests section of the website lets traders compete using risk-free virtual funds for a chance to win crypto prizes. There are weekly competitions with exclusive prizes like NFTs.
PrimeXBT review summary: Highly recommended
PrimeXBT, from start to finish, is a world-class experience. The company regularly listens and, more importantly, responds to customer feedback helping to make the platform the ultimate destination for traders.
Registration is fast, and there are no minimum deposits. The platform comes highly recommended by the crypto community, and we agree. PrimeXBT is the place to be if you want to long and short global markets using only one advanced account. Join now!
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