One of the most outstanding exchanges in the crypto space is PrimeXBT. Whether you are new to the crypto space or not, it is important that you know about this exchange as it is quite a good one.
The PrimeXBT trading exchange was established in 2018 and is one of the crypto-to-crypto exchanges in the market. After its establishment, it has achieved jaw-dropping growth, which puts it among some of the top cryptocurrency exchanges in the market.
This platform is not only popular among beginners but is also one of the top options for people who are interested in margin trading. This only testifies that the exchange offers some of the topmost features and services to the users, whether they are experienced or inexperienced.
PrimeXBT offers its services to more than 150 countries and supports the trading of different asset classes, including Forex, digital assets, CFDs and more.
If you are interested in using this exchange then you need to know the top features that are offered by this exchange to every interested party out there.
Security Features Offered by PrimeXBT
One of the most common questions people often ask before using the exchange is “is PrimeXBT legit?”. Using a secure and trustworthy exchange is important for every interested party. This is because the crypto space is volatile and comes with numerous risks, especially for the beginners.
However, if the novice parties are careful and choose a secure exchange, it can help them avoid several challenges, obstacles and safety risks. This is why, it is important to choose a platform that offers utmost security to the users.
If you are interested in using the PrimeXBT trading exchange then you should know that it takes the security of its users very seriously. It uses state-of-the-art security systems to ensure that the user accounts and funds are Keep safe.
Here are some of the security systems used by the exchange.
- Two-factor authentication (2FA)
- Secured Socket Layer (SSL)
- Dedicated server for the web platform
- Cold storage wallet
Leverage Trading on the Exchange
As mentioned above, PrimeXBT is one of the popular platforms in the crypto space that supports leverage trading. This is one of the most popular forms of trading and allows the traders to borrow funds from the broker. Which we call leverage. The traders can use the borrowed amount to open bigger trading positions. Can result in high profits or huge financial losses. The profits are never guarante and greatly depend on how familiar you are with leverage trading and which exchange you choose.
However, this brief PrimeXBT review talks about leverage offered by the platform. The offered leverage by the platform is one of the highest in the market and varies from assets to assets.
Here are the details you need to know.
- PrimeXBT also offers a 1:100 leverage for the digital assets.
- The trading platform offers a 1:1000 leverage to the traders for trading commodities and indices. It also depends on the size of the opened position.
Currencies Supported by the Exchange
The PrimeXBT trading platform is quite versatile as it supports different assets as mentioned above. One of the asset classes supported by the platform is forex currency and this exchange supports minor and major forex currencies for trading.
Some of the forex currencies supported by PrimeXBT are mention as follows:
- Australian Dollar
- British Pound
- Canadian Dollar
- Japanese Yen
- Swiss Franc
- US Dollar
The PrimeXBT trading platform stands out among several other crypto platforms due to its distinctive feature of Covesting. This feature offers copy-trading.
Copy-trading offered by the Covesting feature means that as a user of the exchange you can automatically copy the trades of an experienced trader. You will then get the same profits or losses as the trader that you decide to copy.
This feature is most beneficial for people who are new to the crypto space and people who have a demanding schedule but want to trade crypto without constantly monitoring the markets, their positions and more.
Tools for Carrying Out Analysis
Another unique feature of PrimeXBT is that it enables the users to carry out both fundamental and technical analysis of all supported instruments. This platform, therefore, comes with several in-built features that help the crypto traders in creating a portfolio that stands out.
Some of the available analysis tools are:
- Charting analysis tools
- Creating and importing customized tools
- Exporting and analyzing trading history
- In-built indicators
PrimeXBT is one of the cryptocurrency exchanges that is at the top of everyone’s list, thanks to the amazing features and services it offers to the users. It is one of the best platforms for beginners and experts alike, as seen through the features mentioned above.