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PrimeXBT Review: Dominate Global Markets With A Single Account

Written by: Mustafa Mulla

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Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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Apr 7, 2022

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If you have heard of the margin trading platform PrimeXBT, then chances are you know that few platforms can compete with the sheer amount of global markets and features accessible using just one account.

More than 100 of the most popular trading instruments and some of the most advanced tools around are in tow.

In this review, we’ll uncover how traders can utilize the ultra-reliable and sleek-looking platform to completely dominate global markets and build an unstoppable trading portfolio. Read on to find out more.

What Is PrimeXBT? Margin Trading Redefined

PrimeXBT is a trusted margin trading platform that launched back in 2018 during the crypto bear market. While many businesses folded, PrimeXBT focused on building a strong base for when markets heated up again.

The platform foundation is built on bank-grade infrastructure, with the goal of providing tools that are advanced enough for professionals, but simple enough to understand for novices. Great care has gone into establishing the full suite of powerful trading tools as a force to be reckoned with.

Even more focus went into curating a list of trading instruments that include the most sought after assets in the entire world today.

Getting Started With A Free PrimeXBT Trading Account

The first thing to notice when arriving at PrimeXBT is the website design and layout. The most important information is included to entice any users needing some extra convincing to sign up. 

Registration is fast, easy, and keeps any personal details required to a minimum. The result is a process that is a breeze and takes no more than a few minutes at most.

An email will be dispatched to the associated email address, which must be confirmed to begin trading. Also necessary is making a deposit in the form of any of the accepted currencies:

BTC, ETH, USDT, USDC, and COV. There is no minimum deposit for a margin trading account.

Deposits And Withdrawals Made Easy And Secure

Deposits are made to a secure cryptocurrency wallet protected further by compulsory address whitelisting, two-factor authentication and much more.

The platform also utilizes a proprietary cold storage process that has prevented any hacks or intrusions since its debut several years ago. 

The trading platform itself rarely reports any downtime, boasting as much as 99.9% uptime. When the platform must come down for regularly scheduled maintenance, it is never a surprise.

PrimeXBT clearly communicates this and other important notices to its user base via email and posted bulletins.

Withdrawals can be initiated at any time, yet the cold storage process keeps withdrawals from being sent more than once per every 24 hours.

Before a withdrawal, each address must be whitelisted and confirmed with a PIN. These solutions are designed with customer capital safety in mind.

Maximizing Your Money Making With A Margin Trading Account

Now here is where things get a lot more interesting. With a deposit made, it is time to fund a margin trading account, or one of the many other accounts available at PrimeXBT such as yield accounts, Covesting followers, Covesting strategy managers, and much more. In a couple clicks, users can move crypto to a margin trading account to use as collateral. 

That collateral can be used to open long and short positions on leverage, which has the unique ability to greatly amplify the potential profitability of any trade.

Leverage lets traders risk less capital while gaining access to more buying power. The result is a greater ROI, less risk, and more thrills.

The platform also includes advanced order types like stop losses, take profit orders, or OCO orders (one cancels the other).

Trading instruments to choose from including Bitcoin, gold, oil, the S&P 500, and any other major market today across forex, crypto, stock indices, and commodities.

Over 100 different pairs are provided, offering the rare chance to create a risk-averse and highly profitable trading portfolio.

Learn To Trade From An Expert Trader With 20 Years of Experience

For those that don’t know how to trade, PrimeXBT has launched what they call The PrimeXBT Trading Academy. The PrimeXBT Trading Academy is an educational website jam-packed with helpful videos, tutorials, trading tips, market updates, and more.

Educational materials are designed and presented by expert trader Dirk Hartig. Hartig has more than 20 years of experience trading volatility and is passing along his learnings to the PrimeXBT user base for free. 

PrimeXBT provides built-in technical analysis tools from industry-standard TradingView. Users can draw trend lines, plot support, and resistance, or look for potential trend changes.

Dozens of the most commonly used technical indicators are also included, such as the Relative Strength Index, On-Balance-Volume, MACD, and many more.

With enough time spent learning and charting, users can then practice in a real-time simulated market environment using the Contests tool.

The Contests section of PrimeXBT is filled with trading competitions that users can enter with risk-free virtual funds.

Because there is no risk, traders can also use the setup to backtest trading strategies or the tips they picked up from PrimeXBT Trading Academy. There is also a chance to win substantial crypto prizes worth as much as $100,000 in USDT.

Can’t Get The Hang? Copy Trade Instead With Covesting

Let’s face it – trading is tough. If it was easy, everyone would be doing it and finding incredible wealth left and right.

Not everyone has what it takes mentally, emotionally, or even on a capital level. The Covesting copy trading module on PrimeXBT can give even newcomers an edge they cannot get elsewhere.

Pro traders can sign up for a different type of account called a strategy manager. This account gets all performance tracked transparently for the world to see in the global Covesting leaderboards.

The better these strategy managers perform, the higher their rank within the leaderboards. Additional metrics are also captured, focusing on margin allocation, win to loss ratio and more.

Followers then use these metrics to sort through the massive list of traders and choose the ones they believe will produce the best ROI. 

Followers must pay close attention to manage their followings and keep checking performance stats, however, they don’t have to do the hard work of trading themselves. Followers instead can sit back and let more experienced traders handle the hard part.

Extra Ways To Generate Income And Value Beyond Trading Alone

PrimeXBT still has more up its sleeves. There is a new yield account system designed to tap into the most popular and profitable DeFi protocols in just a few clicks right from within the PrimeXBT dashboard.

Doing so earns a variable APY on any staked crypto assets. Rates reach as high as 14% and can be boosted by up to 2x depending on which COV token membership is activated. 

COV token memberships come in three different levels, ranging from Advanced, Premium, and Elite. Each level activates an increasingly improved set of account utilities, such as trading fee discounts, increased following limits, and more.

The COV token is the native cryptocurrency token to the Covesting ecosystem. A MyCOV section exists on PrimeXBT that includes insight into the cryptocurrency’s tokenomics, as well as the ability to activate or deactivate memberships at will.

If that somehow wasn’t enough, there is still a lucrative four-level referral program with daily crypto payouts, a massive help center, and live 24/7 customer service support chat. 

The company is also active on just about every major social media platform and recently released a new Discord server to complement the Telegram channel and offer exclusive opportunities to the community.

Dominate Global Markets With PrimeXBT All-In-One Solutions

As you can see, there is much to do with a single account. And with a massive arsenal of advanced trading tools and access to every important global market under one roof, PrimeXBT is an easy sell to anyone looking for a new margin trading platform to call home.

Even if you aren’t on the hunt for a new venue, PrimeXBT is very well worth a switch. There is also a native smartphone app for Android and iOS devices, so in addition to all of these features under one roof, users can stay on top of their positions from anywhere in the world. 

Are you ready to dominate global markets with PrimeXBT?

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Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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