PrimeXBT, a great place to trade especially if you want access to more than just crypto. Let’s get into it.
Overview
PrimeXBT is much like it’s competitors Bitmex or Deribit in that it offers leveraged contracts on an underlying asset, often up to 100x leverage. The main difference and advantage of primeXBT is that it grants access to a wider range of markets. PrimeXBT offers contracts on indices such as the S&P500, Forex pairs, and commodities. A one stop shop for all your markets and trading needs.
Trading Products offered:
| Crypto Pairs | Indicies | Forex | Commodities |
| BTC/USD ETH/USD LTC/USD XRP/USD EOS/USD ETH/BTC LTC/BTC EOS/BTC XRP/BTC | GER30 SP500 NASDAQ HK-HSI AUS200 Japan UK100 | EUR/USD GBP/USD AUD/CAD AUD/CHF AUD/JPY AUD/USD EUR/AUD EUR/CAD EUR/CHF EUR/GBP EUR/JPY GBP/AUD GBP/CAD GBP/CHF GBP/JPY USD/CAD USD/CHF USD/JPY XAU/USD (gold) XAG/USD (silver) | Brent Crude Natural Gas |
Pros:
1. Lots of markets to choose from:
If you’re interested in branching out in trading something besides Bitcoin, then PrimeXBT is an excellent place to look. The wide range of Forex, indices, and commodities should be welcomed by most traders. Although they don’t have the most pairs or markets available, it’s still something you’ll be hard pressed to find as they offer up to 500x leverage on some trading pairs.
2. Easy account creation, no KYC:
Sign up quickly for an account with basically just an e-mail and a name. No need to provide much more, deposit some BTC and you’re ready to start trading.
3. Advanced/ Multipule order types:
Advanced order types are always welcomed by most traders. Place limit orders, market orders and special conditions on your orders with PrimeXBT
4. Low Fees:
The fees are quite low for the products they offer. Starting at 0.05% on digital assest.
Cons:
1.User Interface:
They claim to have great customizable interface and great charts and all that, but when I was testing it the exchange it felt clumsy and unrefined in comparison to other exchanges. Customizing the interface wasn’t as easy as I thought it would be and the charts could be better. Nevertheless, this isn’t that big of a deal because you can just use TradingView or somewhere else to look at the charts anyways.
Besides the UX, there is the issue of liquidity. Overall they’ve arranged a system where there shouldn’t be any issues with liquidity, but no exchange so far can compete with Bitmex. Of course, you can’t trade other markets on Bitmex, so there are some trade offs. Furthermore, if you’re located in the USA, you won’t be able to use PrimeXBT. Lastly, there isn’t a demo account feature to get used to exchange before going live, but overall we really enjoy what’s on offer at PrimeXBT.
Conclusion:
PrimeXBT is a great place to trade, especially if you’re looking for more markets than just crpyto. The exchange has good security, easy sign up, good liquidity, and low fees. Overall, it’s one of the best exchanges we’ve come across.