In the realm of PrimeXBT Crypto Trading, the process of trading evolves into more than just strategic decisions; it becomes an art form where every move impacts the final outcome. Here, each operation in the cryptocurrency market is an opportunity to feel the pulse of investments, delve into the mysteries of financial markets, and turn ideas into reality. Complex analysis algorithms, instantaneous decision-making, strategic settings – all become part of the daily routine for those who choose PrimeXBT. It’s not just trading; it’s an intellectual battle where every trader strives for maximum efficiency and a result that will change their lives.
Adjustable Leverage Up to x200
One of the first things that futures traders look for in a platform is how leverage works. For those who are unsure, leverage is the ability to control a large financial position with a relatively small amount of money. This is made possible because, when trading futures, a trader doesn’t have to pay for the full value of the contract upfront. Instead, they only need to deposit a fraction of it, which is called the “initial margin.”
Their initial investment is magnified by the platform, to help them to make larger trades. Naturally, something like this comes with inherent risks, which is why this PrimeXBT Crypto Futures review is aimed at people who are slightly more advanced and ambitious than the average beginner.
Let’s start with discussing the amount of leverage you can engage with. By default, many futures trades will be set to a whopping x200 leverage, which is significantly higher than many other platforms on the market. Your trades will also be set to a cross-margin type.
This is where the entire available balance in a user’s account is used as collateral for positions. This means if a position starts to move against the trader, it can eat into the entire account balance to prevent liquidation. This method can allow positions to survive longer against adverse price movements, but at the risk of potentially wiping out a much larger portion of the trader’s account. As a result, using a cross-margin type will give you access to PrimeXBT’s x200 leverage, which is not available for its isolated margin type.
You can easily switch to isolated in the dashboard, which is where the margin is confined to a specific position or trade, and the user determines how much margin they want to allocate to a particular position, and only that amount is at risk for that position. Using an isolated margin is great for reducing risk, but simultaneously, it also prevents you from accessing the full x200 leverage.
When using an isolated margin type, your leverage is capped at x100. However, this trade-off comes with the ability to customize your leverage in a way that cross-margin futures trading does not offer. For those who enjoy more control over their leverage, choosing the isolated route is ideal, as it allows for more precision.
PrimeXBT Crypto Futures users are also capable of accessing unmatched liquidity, the likes of which cannot be found on most exchanges. Better yet, this liquidity is far-reaching, covering a range of assets. There are eight to choose from, all of which are paired with the USDT stablecoin.
This includes BTC, ETH, LTC, XRP, Polygon’s Matic, and even BNB. Not only this, but more niche assets such as ATOM and TRX are available, as well. This is a very strong range, which offers something for everybody.
Customizable Dashboard
The first thing you will notice when you try the platform out PrimeXBT Crypto Futures is that the dashboard is fully-fledged and designed for advanced users. It contains all the bells and whistles you would expect in a trading console. Its chart is powered by TradingView, which means you can overlay a whole host of measurement tools and patterns, as well as add indicators and change the time frame of the chart.
For day traders who engage in futures activity, the ability to look at minute-by-minute chart details is a godsend. For those who prefer holding for longer, they can change the chart to show daily or weekly activity. This is the same with other tools that the company offers, as was covered in our PrimeXBT review. Plus, details like this can help those who enjoy copy-trading on the exchange.
The best aspect of this dashboard is that it is highly customizable. Users can add watchlists for their favorite pairs, view pending and open orders, and, best of all, they can drag different elements around the screen, meaning they can have a layout that suits their needs best. This is fantastic for beginners who may not want to be daunted by every feature that PrimeXBT offers, as well as advanced users who would prefer a streamlined view that focuses only on the elements that matter to them.
It is a simple thing, but customizable dashboards are highly sought-after. They allow people to organize their activity in a way that makes the most sense to them, giving a level of autonomy and precision that many top exchanges do not offer. With this aspect of the PrimeXBT Crypto Futures review in mind, it makes it clear just how user-friendly and accessible the platform is.
Low Funding Fees
When people are thinking about futures trading, one factor they need to consider is what the funding fees will be like. PrimeXBT has a legacy of having low fees for many of its other areas. This tradition is upheld when it comes to futures, too.
For both its financing day-long and short positions, its funding rate is 0.0001% every 8 hours. This makes for a daily rate of 0.0003% (assuming there are three 8-hour periods in a day), or approximately 0.1095% annually. This is fantastic news for all types of traders, from day traders all the way up to those who hold very long positions. It makes for a low-cost endeavor, which is a point that definitely should be highlighted.
This rate is the same across all of its eight pairs. It is also worth noting that the maker and taker fees are set to a good range for PrimeXBT Crypto Futures, as well. All assets have a 0.01% maker fee, and a 0.02% taker fee. Taker fees are typically higher than maker fees on trading platforms to incentivize market participants to add liquidity to the market. Makers, by placing orders that don’t fill immediately, contribute to market liquidity, facilitating smoother trades and narrower price spreads.
Takers, on the other hand, remove liquidity by matching with existing orders. By charging takers more, exchanges encourage traders to add liquidity, leading to a more efficient marketplace with tighter spreads and more strategic trading. This approach aims to promote a healthier trading environment, as well as help exchanges attract volume, especially from high-frequency traders and market makers.
Copy-Trading Capabilities
PrimeXBT understands that trading can be a challenging endeavor, especially for beginners. To support traders in their journey, PrimeXBT offers a unique copy trading feature that allows users to replicate the strategies of successful traders on the platform.
This feature provides an opportunity for less-experienced traders to learn from the expertise of seasoned professionals and potentially boost their trading performance. Copy trading offers a way to bridge the gap between novice and expert traders, making it a valuable tool for those looking to enhance their trading skills.
What this means is that users can copy the activity of other esteemed and well-versed traders. The copy-trading module on PrimeXBT is extremely user-friendly, filled with a wide range of information about potential individuals and bots to copy from.
The equity column reflects follower trust, indicating the amount of money allocated to each account. Higher equity suggests greater respect and trust from followers. Star ratings also signify trust, earned through specific actions.
To achieve a five-star rating, accounts must fulfill five distinct criteria:
- Their equity must be more than, or equal to 2000 USDT.
- The number of their active trading days is greater than two, over a 10-day stretch.
- Their margin usage did not surpass 60%, whilst having more than 0% trading volume, over a 10-day stretch.
- The ratio of closed profitable positions in comparison to closed unprofitable positions is at least 60%/40% within the last 30 days.
- The turnover has been greater than or equal to 200,000 USDT over the last 30 days.
PrimeXBT’s copy-trading system is meticulously designed to aid users in selecting traders to follow based on specific criteria. The system employs star ratings to denote a trader’s performance and reliability, with each star symbolizing a distinct level of achievement. Furthermore, users can readily discern whether a trader has undergone ID verification, further enhancing trust and transparency.
In order to streamline the process of identifying top traders, PrimeXBT has instituted a Wall of Fame, showcasing the top 50 accounts. This ranking is determined by various factors such as active trading days, maximum profits, and maximum equity. Moreover, the platform maintains a low minimum deposit requirement for copy-trading, ensuring accessibility and inclusivity for novice traders.