People who are new to the crypto space should know about PrimeXBT, which is one of the topmost crypto platforms in the market. This exchange outshines several other crypto exchanges, thanks to the remarkable features it offers to all its users, whether they are experienced or not.
One of the outstanding aspects about PrimeXBT trading exchange is that it is a suitable trading platform for beginners and experts alike. This aspect will be discussed further.
When it comes to security, this exchange is one of the safest platforms as it makes use of state-of-the-art security systems that offer utmost security to the users. Apart from these factors, there are several other reasons that make it an impressive option for many crypto investors and traders.
Therefore, if you are also looking to use this exchange, then you need to know the following details.
PrimeXBT Covesting Feature
This is one of most distinctive feature of this exchange that sets it apart from all other trading platforms. This exchange is already seen as a powerful trading platform. However, its Covesting feature makes it even more unique as it offers copy-trading.
Copy-trading, as the term suggests, allows the new crypto traders to automatically copy the trades of an expert. This enables them to get the same returns or losses as the trader that they choose to copy.
This is one of the best features for people who are new to trading but do not know how to trade. It is also a popular feature for people who have a demanding schedule but want to trade without constantly monitoring the market and their positions themselves.
Support for Leverage Trading
There are a few cryptocurrency exchanges that offer support to leverage trading, however, not all of them can be suitable or secure for you to use. Trading with leverage is a popular form of trading but it is also highly risky. Which is why you should not choose just any exchange that supports leverage trading.
This form of trading allows the traders to borrow funds from the brokers to open bigger trading positions, without investing a big amount from their own pockets. Different platforms offer different leverage ratio that may be as low as 5x or as high as 250x.
This form of trading enables the traders to get big profits or big losses, depending on how familiar they are with the concept and which exchange they choose.
Fortunately, PrimeXBT is a secure exchange and offers different leverage for different asset classes mentioned below.
- 1:1000 leverage ratio for forex trading of commodities and indices
- 1:100 leverage ratio for trading digital currencies
Versatility
One factor mentioned in this brief PrimeXBT review is that it is a versatile trading platform that supports several asset classes. As a user of the exchange, you will have the option to trade several assets. Which is something not offered by many cryptocurrency exchanges.
This is a crypto-to-crypto trading platform where the users can trade
- Digital assets
- CFDs
- Forex
This makes the PrimeXBT trading exchange unique and suitable for a large audience, interested in different asset classes.
Security Offered by the Exchange
As a beginner, if you ask “is PrimeXBT legit?” then you need to know that it offers support to some of the best security systems. The top-of-the-line security features supported by this exchange make it a secure platform where you can trade any of the available asset classes, whether you are experienced or inexperienced.
Some of the security systems used by PrimeXBT are as follows:
- Cold wallet storage
- Dedicated server for web platform
- Two-factor authentication system
- Secured Socket Layer (SSL) protocol
Features of the Trading Platform
As mentioned earlier, PrimeXBT is a versatile and powerful trading platform. Regardless, if you are looking to use this exchange and start trading crypto assets then you should know the features that it offers specifically for the traders.
Knowing these details can make it easier for you to determine if it suits your needs and trading requirement or not.
Some of the features of this trading platform are mentioned as follows:
- Technical indicators available – there are more than 90 different types of in-built indicators on the platform that can be used by the registered users at any time
- Customizable and user-friendly layout
- Multiple order types available
Key Takeaways!
PrimeXBT can be a suitable platform for new and experienced traders because it is a versatile platform that prioritizes the security of its users among several other things. As a potential user of the exchange you should know the details mentioned above.
