PrimeXBT Review
Have you ever wanted to join the trading world so severely but did not know where to start? That is great because the first thing you need for a successful trading experience is a trading platform, and who better than PrimeXBT? You might have heard this name for the first time, but reading this PrimeXBT review will help you figure out many things.
When people first hear about trading, they think it’s all fun and that it would be straightforward to make a successful career out of it. But there are many things that people fail to learn before joining trading, such as the procedure you should follow and the precautionary steps you should take. If we talk about the actual trading process, then the first step traders have to do as soon as they think of starting trading is choosing a platform. The trading markets have several trading platforms, and these are companies that offer services specifically designed for traders so they can execute trades, etc. Now most traders prefer to work with an exchange since it is more beneficial in the market and allows traders to make a lot of profit.
When it comes to choosing a platform, be sure to make a list of the qualities you are searching for; otherwise, you might end up selecting an exchange that will not be able to serve you. The first thing traders usually want is security, and this is an essential feature because no one wants to lose their funds or information. You might also want to trade comfortably, and that is also linked to security most of the time since traders cannot trade appropriately if their safety is being threatened. Now that a platform is secure enough for you, it is essential to conduct proper research into the company you are choosing. This way, you can get an insight into its objectives, security policies, and measures.
Some other features that are very important for traders are providing lots of advanced features and tools. Because, as you must know already, trading is a very progressive field, and its advancements do not appear to be stopping anytime soon, which is why traders need to have a trading platform that will help them keep up with the latest trends of the market. If you still didn’t get why choosing a trading platform is so important, then let me explain this to you through an example. If you are going to step into the trading market, then there are chances that you won’t have much knowledge about the market.
As an inexperienced trader, you can face losses that can affect you financially as well as mentally. But if you manage to find a good platform like PrimeXBT, then half of your work is already made easy. Because of the experienced team members of this exchange, the platform knows how to satisfy the traders and what they want. But the most crucial question that confuses so many traders is where you can find a suitable exchange that can benefit you? The answer to this question is not as straightforward as you think. There are a lot of traders who have different mindsets and requirements. Some may require features that are not necessary for others. The first thing that you should keep in mind while choosing your exchange does that exchange meets your requirements and goals. I am sure that you will be in a better position to decide what is best for you by reading this review.
So without wasting any more time, here is a list of features that PrimeXBT is offering, making it one of the best trading platforms in the online trading market.
A Complete Trading Platform
Some of you might not know what a trading platform is. Let me tell you that a trading platform is an interface that a firm offers. In this case, we are talking about PrimeXBT to analyze the trading platform of this exchange. If you are not aware of the importance of a trading platform and how it helps traders enhance their trades, you should learn more about it. Let us suppose if you are a trader who wants to join this platform and you visit it to register yourself. It is not as big of a deal, and you can register yourself. But PrimeXBT is not just a common platform, and it has made sure that everything that traders will experience is on point. For example, if you want to register yourself, everything is kept so simple and fast that you won’t need to wait for days to start trading. Instead, you can put in your details, wait for a concise while, and your verified account will be good to go. It is as simple as it sounds.
So for all those traders, crypto trading is a challenging market, and the technology might be too much for you. Then it is not valid, and it has been proven by the platform that PrimeXBT is offering. No doubt there are some other exchanges as well in which traders don’t get any leverage, and they are bound to learn the complex software to start investing. But we are not here to talk about other platforms and how they affect you as a trader. Instead, my main goal is to deliver as much knowledge to you as possible. If you don’t believe that this platform is a good one, let me explain why. The first thing that is great about this platform is that it is very user-friendly. As soon as you visit the platform of this broker, you will feel like you are using a platform that is so easy to understand, and it won’t take a lot for you to get used to it.
Have you ever heard of a dashboard? Yes, it is included in this platform. But if you don’t know what a dashboard is, let me tell you what it is and how it is essential. All trades that you have to do are made through software. This software consists of many features and tools that can help traders predict the market better. To give you all of the information on your screen, PrimeXBT has designed a dashboard that consists of all the tools and graphs which show you the market trends. This dashboard accommodates traders who want to get all the information on one page, making the overall design much easier to understand. Another perfect thing about this platform is that it is customizable. You heard it right, there is one of the most user-friendly and comprehensive trading platforms offered by PrimeXBT, but for some reason, if you don’t like the platform, then you can make it according to your choice. This gives traders the option to change the trading platform if they don’t like it.
The interface of this platform is very interactive and well-organized. This can be seen as soon as you open the platform. There you will notice that everything is kept in its place and well organized. This plays a massive role in the trader’s experience because if a trader is facing any difficulties finding his vital tool or doesn’t need all of those tools and can see them unorganized, it is incredibly frustrating for him. Considering this point, PrimeXBT has designed its platform in a way that is extremely clean looking, but at the same time, it is packed with all the features that will help traders.
Markets Of PrimeXBT
The online trading world is not small at all. There are a lot of different instruments and markets that can be traded. If you are interested in buying multiple assets, you should probably look for a platform offering you different types of instruments to trade. PrimeXBT is an excellent example of that, and let me tell you why. There are over millions of traders in the online trading world. This means that hundreds and thousands of assets that traders around the globe trade through different platforms. But PrimeXBT has considered this point and made it easier for the traders to trade everything under one roof. This means that now you can trade any of your preferred assets without having any problems.
Talking about PrimeXBT, there are four different types of markets that PrimeXBT offers. The first One is the stock market. I am pretty sure that you guys must have heard of this market. But if you don’t know, then I will tell you what it is. It is a market where different companies list their stocks, and traders buy and sell them for profit. And if you ask what the oldest market of online trading is, it is undoubtedly the stock market because it has been traded before the internet launch. But yes, the internet has made it a lot easier.
The next option for a market that you can explore is cryptocurrencies; this is a market that is one of the most popular and has attracted the most people towards trading. The best thing about PrimeXBT is that it allows its users to have direct access to trading cryptocurrencies. It also makes sure that the most popular crypto assets are available for you to try out, and some of the options available are Bitcoins, Ethereum, Litecoin, and EOS. If you are looking to improve your trading experience, then PrimeXBT will undoubtedly help you with the software provided, amongst many other features.
Traders can also explore the market for Forex Currencies, and now you might be wondering what this market includes. Users can trade currencies, and the forex market is one of the most popular ones to exist as it offers high returns. PrimeXBT provides currencies that are the strongest and the most recognized, so traders will have a great experience exchanging these. And these currencies belong to countries such as the US, Australia, Canada, and the UK. by choosing PrimeXBT, you will never miss out on an opportunity in terms of trading currencies, and you will always have access to the best trading options. Some of the currencies you can trade are EUR/USD, GBP/USD, AUD/CAD, and AUD/CHF. Are you still wondering whether you should trade forex currencies? Because if it helps, then remember that this market is one of the most traded, and it is also a liquid market. The currencies you trade belong to some of the most powerful countries, which significantly impact the world economy.
Moving on to the last market, which you can explore with PrimeXBT, commodities, now most people tend to skip this market when it is a great option. Especially if you are starting in the field, then trading commodities has many benefits to offer. There are many options in commodities that are both popular and profitable, and PrimeXBT makes sure that its customers can trade these such as Crude oil, Natural Gas, Silver, Gold, and others. The best thing about trading commodities with PrimeXBT is that you will always have so many options to choose from, and the platform makes sure customers never miss an opportunity.
Other Benefits Of The Platform
One of the things that differentiate PrimeXBT from all the other trading platforms is that it operates on STP while all others use P2P. If you are confused about what this means, then that is normal. Usually, traders are not concerned with such information, but it makes a massive difference to your trading experience. I will discuss this feature briefly, and let’s begin with STP’s complete form, Straight-Through-Processing. What this does is that it transfers all the orders to the liquidity providers. But what usually happens is that users get matched internally or with the algorithm connected to the market. The benefit of STP-operated platforms is that users are provided with higher liquidity and a decreased slippage. But this does not occur on other platforms.
Are you still confused about what all of this means? If you are, then do not worry because let’s look at it like this: you place an order for a crude oil contract, and it gets sent to the liquidity partners immediately and banks and brokers in hopes of a match. As soon as the market executes the order, it is done on your account’s behalf, which will benefit you by allowing you to access international markets with deep liquidity. So it is like having independence and getting to execute orders with a decreased spread.
Placing Orders On PrimeXBT
A lot of times, traders face placing orders through platforms due to the process being extremely complex. Have you ever had a similar struggle? Because it is a total waste of time and is very frustrating for the customer. PrimeXBT has realized this earlier and chosen an effortless and straightforward procedure through which traders can place their orders. There are also different options you have, so this has allowed traders to select the most convenient method.
The first way you can place an order is by going to the page where the charts are displayed, and all you have to do is right-click on the chart. If that does not appeal to you, choose the instrument you are interested in from the Watchlist, right-click on it and then decide if you want to Buy it or Sell it. Isn’t this simple?
Next up, traders have to decide on the type of orders they are interested in. In total, there are three options, Market orders, Stop orders and Limit orders. There is also another option which is OCO, and it stands for One Cancels the Other. This is an order which allows traders to place two orders simultaneously and what happens is that one order gets executed, and at that time, the second One will get canceled. Now, this is a feature which professionals use most of the time. But PrimeXBT makes sure that every trader finds an order type that suits their interests.
Leverages At PrimeXBT
One feature which many traders forget to consider before choosing a platform is the leverages that it provides. You should always check the options you have for leverages, as this also impacts your trading experience like other features. In terms of PrimeXBT, the traders have been fortunate because the platform has provided decent leverages. The thing about other platforms is that users can choose leverage between 1 to 100, but this is not the case with PrimeXBT. The interface provided on this platform is much more straightforward and more accessible, and you have control over the leverage, and you can adjust it by changing the position size.
Are you still confused? What is meant by this? So let’s take an example that you have 1 Bitcoin in your account. Because of this, you can open a position of 100 Bitcoin at the leverage of 100 to 1. By doing this, you can take full advantage of the margin.
Fees At PrimeXBT
Do you agree that one of the most frustrating things about trading platforms is their fees? At times these platforms charge such high prices that traders become disinterested in trading because traders can barely afford to invest in assets. So this is a very common thing that platforms forget that traders already have a lot of expenses to think of, and when they start charging commissions and fees, it makes all of it even more difficult. But the great thing about PrimeXBT is that it has kept the fees very low. This is a surprising thing in the market, but it shows that the platform is not just concerned with making money.
Conclusion
After finding out so many great features and services offered by PrimeXBT, I do not know if anyone can skip this platform. It is undeniable that such features are hard to come across in the market, so make use of this platform and improve your trading experience.