Learning About the Features Offered by PrimeXBT

PrimeXBT is a popular crypto trading platform that offers some of the best features to the users. This exchange stands out among the rest, thanks to its features that are unique and distinctive.

Different crypto exchanges offer support to different services, some of which may suit the needs of beginners while others may not. This is why it is important for potential users of any exchange to take their time and learn about the services offered before they use it to buy or trade crypto.

Similarly, people who are interested in trading crypto and want to use this exchange, should first have some idea about the available features mentioned in this brief PrimeXBT review. Knowing the features of this crypto trading platform can help you determine whether it is according to your needs and requirements or not.

Forex Currencies Supported by PrimeXBT

One of the most distinctive features about this exchange is that it supports the trading of major and minor forex currencies. This makes it suitable to use for people who are looking to trade forex currency pairs.

The forex currencies that are supported by the PrimeXBT trading exchange include:

  • Australian Dollar
  • British Pound
  • Canadian Dollar
  • Euro
  • Japanese Yen
  • Swiss Franc
  • US Dollar

Leverage Trading on the Exchange

A powerful and versatile trading platform such as PrimeXBT also offers support to one of the most popular forms of crypto trading, leverage trading.

Trading with leverage means that as a trader you can borrow funds from a broker and use the amount to open bigger trading positions. The borrowed amount is called leverage and it means that you don’t have to invest a lot of money from your own pocket.

This is a popular yet risky form of trading and should not be opted for by people who are unfamiliar with the concept and have no experience in crypto trading.

Even though traders can open big trading positions, it is not necessary that it may result in profits as the trades can go south and end in financial losses as well.

Therefore, as a novice crypto trader you need to understand the concept and choose a secure platform such as PrimeXBT before you begin leverage trading.

This crypto trading platform offers one of the highest leverages to the traders, which is different based on the assets that are being traded.

  • For forex commodities and indices, the exchange offers a ratio of up to 1:1000
  • For digital currencies, the exchange offers a ratio of up to 1:100

Security Offered by PrimeXBT

One of the questions novice crypto traders often ask before using the exchange is “is PrimeXBT legit?”. The legitimacy of a platform is important because there is no shortage of crypto exchanges in the market but they don’t all prioritize the safety and security offered to the users. Therefore, it is important for novice crypto investors or traders to be sure about the security offered by an exchange before they use it.

The PrimeXBT trading platform is one of the exchanges that aims to offer utmost security to the users. It uses high-end blockchain technologies and security systems and is one of the safest trading platforms in the market.

Some of the security systems used by PrimeXBT are mentioned below.

  • Cold storage wallets
  • Dedicated server for web platform
  • Secured Socket Layer (SSL)
  • Two-factor authentication method (2FA)

Trading Platform

The PrimeXBT trading platform has one of the best interfaces. It is user-friendly and features important and advanced trading tools and features that are helpful for crypto traders to use. These tools and features can be used to place trades or carry out analysis.

There is also an in-built “help and tutorial section” that has educational videos and articles. It is helpful for all crypto traders whether they are experienced or not. Some of the features of the trading platform include:

  • Technical indicators available
  • Customizable layout
  • Several order types

Covesting Feature

Another unique and distinctive feature of the exchange is the Covesting feature. This is one of the features supported by PrimeXBT that makes it more prominent among other crypto trading platforms.

This feature has been designed to make crypto trading easier and convenient for people who are new to the crypto space. The purpose of the Covesting feature is that it supports copy-trading.

Copy-trading means that being a novice crypto trader you can choose an experienced trader and start copying their trades. This will result in you seeing the same benefits or losses as seen by the trader that you decide to copy. The Covesting feature is the best way for novice traders to trade without constantly monitoring the markets, their trading positions and more. It is also one of the best ways for people who have a busy schedule to trade while on the go.

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