5 Reasons Why PrimeXBT is the Best Broker for South African Traders

There is the possibility of going “limit up”, or “limit down. What the history of this index shows is that because it is somewhat of a representation of the health of the American economy and space, it is often influenced by factors that affect the entire country. PrimeXBT offers different account levels, each providing a range of benefits and features to cater to various trading needs. Cardano may achieve significant growth and acceptance if its plan is completed properly. Easily buy 60+ Crypto with Visa or Mastercard. Engaging in trading through PrimeXBT, whether by following, copying, or replicating the actions of other traders, carries significant risks, including those associated with following or copying traders. It offers a robust and versatile trading platform designed to meet the needs of traders across various experience levels. Additionally, PrimeXBT charges funding fees regardless of whether you go long or short, unlike other exchanges that rebate fees when trading against the market. Please note that these are optimistic predictions and involve the assumption of a significantly positive regulatory and adoption outlook for cryptocurrency. Titles should accurately represent the content being linked to and not be in all caps. This allows for the control of large positions with a relatively small amount of capital, potentially maximizing profits from both rising and falling market prices. All you need to do is deposit your crypto into a yield account and start earning interest. If you have any questions or need further assistance, please feel free to reach out to us at. The millions of happy PrimeXBT users would probably disagree with me on this point. You will lose control and management of your account. This guide aims to walk you through the reasons why Ethereum is a good investment, how you can invest in Ethereum, how to buy Ethereum and make profits on short term fluctuations, explain all the pros and cons of Ethereum investing, and more. Still, their 24/7 support means help is always ready, anytime. Risks in the market increase with the inclusion of cryptocurrencies and other speculative assets. 07%, its long term performance remains remarkable, maintaining a solid base of 183 followers who have collectively entrusted over $65,000 USDT. ” The system will validate the code and apply the corresponding bonus to your account. So, with $1,000 and 5x leverage, you could control a position with a $5,000 notional value. 2013/099697/07, having its registered address at 180 Lancaster Road, Gordons Bay, Western Cape, 7140, South Africa. For added security, PrimeXBT allows you to lock the app with a passcode, fingerprint, or FaceID, in addition to their existing account security measures like 2FA.

Conclusion

You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. Technical analysis as we’ve explained is the study of price action, chart patterns, Japanese candlesticks, and technical indicators, and using the information to attempt to predict future outcomes in markets. Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. PrimeXBT does not charge for deposit or wallet creation. 0000500 by 2050, driven by technological advancements and broader market adoption. This involves using tools to help identify technical indicators or price PrimeXBT limited levels that signal when to enter and exit a position. Virgin Islands, Northern Mariana Islands. To determine whether PrimeXBT is worth the investment, we’ll conduct a cost benefit analysis, compare it with alternatives, and deliver our final verdict. These factors make PrimeXBT an attractive option from a cost benefit perspective. To view or add a comment, sign in. With PrimeXBT, traders are not restricted to only being able to trade crypto assets as is the case with many other crypto trading platforms. The exact leverage that users will be allowed for the position will depend on the type of asset that they are trading as well as the size of the position that they are taking on. While PrimeXBT receives a lot of praises, there are a few areas where users have expressed concerns or suggested enhancements. There are no bonuses, advantages or discounts available to traders over a certain level. Also, there are no fees for depositing cryptocurrencies. This may be a more prudent move as even the slightest amount of volatility can lead to an exhaustion of funds with 100x or 1,000x leverage. The probability of an upward breakout is high because the trend on the higher timeframes is upward. No, there are no fees charged by the broker for depositing funds on PrimeXBT.

PrimeXBT Trading Options

You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. Social trading service if you’d like. This is something that you can get in your account management page under the “referral” section. It’s crafted to make your trading experience as seamless as possible. 306038128, having its registered office at Eisiskiu Sodu 18 oji street 11, Vilnius, Lithuania. Currency assets are traded among themselves, with resources and metals. To activate a bonus, users typically need to input a promo code or make a qualifying deposit. ASK quotes are higher than BID quotes by the amount of the Spread. You want to add to your winners and to cut your losers short. There was no additional explanation for the blocked access in these regions. You also have the option to insert a referral code if you were given one more on this later. Withdrawal Crypto only. The Fixed Tradable Bonus PrimeXBT is a bonus added to the equity of your trading account and can be used as additional collateral to open positions. Open the downloaded file and tap Install to complete the installation. PrimeXBT copy trading is a key feature. The absence of mandatory KYC and AML measures increases the platform’s risk of investigation and sanctions, similar to Binance’s $4. With Perpetual Contracts: Daily fluctuating funding interest rates for leveraged positions. PrimeXBT offers a variety of bonuses and promotions for both new and existing users. Crypto Futures and CFDs products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. The platform’s adherence to KYC and AML standards where required, along with its commitment to transparency, allows users to trade confidently and securely across multiple markets.

Types of PrimeXBT Bonuses

These products are not suitable for all investors. The system will verify the code and apply the relevant bonus to your account. Simply navigate to the BTC/USD pair and click “Trade. Clients must independently assess risks and make informed decisions. The absence of mandatory KYC and AML measures increases the platform’s risk of investigation and sanctions, similar to Binance’s $4. Labeled Verified, they’re about genuine experiences. It is extremely user friendly it is fast, it is sleek, and it is not crammed with extra information which is unrelated to trading which seems increasingly common among large exchanges these days. My deposit was credited after 20 network confirmations, which took a few minutes. Understanding the importance of KYC compliance and its impact on trading activities is crucial for all PrimeXBT users. The year could end with prices reaching a peak of $155. Crypto Futures and CFD Services on our inhouse platform are offered by PrimeXBT Trading Services Ltd PrimeXBT, a company incorporated and existing under the laws of Saint Lucia, with Registration No. Returns or profits may be subject to capital gains tax. Frequently, Cryptos with some sort of utility within the Crypto ecosystem will garner more attention and as a result more investors. As I have already written it’s not easy for beginner, but I realize that I’m becoming more professional trader. Dear Felipe,We’re glad to hear that you’re enjoying the crypto futures on PrimeXBT. I’m trading only crypto futures because I prefering a high volatility on financial markets and the crypto market is ideal for my trading strategy. Remember, margin trading is not suitable for everyone. ???? No strict minimums. While PrimeXBT is not regulated or licensed, it has a positive reputation and a long history of satisfied traders. 14 ETH/200, USDC or equivalent in BTC on your deposit. The remaining $1,000 in your account can be used to open additional trades. This can be good or bad, depending on whether or not the trade has worked out. With multiple support channels and a rich array of educational materials, PrimeXBT provides a supportive and informative environment that caters to the needs of traders at all levels. “Trading Platform”: PrimeXBT’s comprehensive online trading system, consisting of computer hardware, software, databases, telecommunications, mobile applications, and other technical facilities providing real time market information, analysis tools, transaction execution, order placement and management, company notifications, and record keeping of all transactions and mutual obligations between the Client and the Company. However, depositing or withdrawing fiat currency will require KYC identity verification. All markets are cyclical, although Crypto markets appear to be based on Bitcoin’s block reward halving mechanism that takes place roughly every four years. We do not solicit clients residing in the above regions and only accept clients that register at their own initiative.

IB Reward, Win Sports Car – Lirunex

It is a great diversification hedge. Accept short term fluctuations:Avoid overreacting to normal price fluctuations and short term losing streaks. PrimeXBT has 24/7 support, educational materials, and the PrimeXBT Academy. The leverage available depends on the asset type and position size. Deposit and Withdrawals Policy. Innovations that reduce transaction fees and increase transaction speed make Shiba Inu more competitive in the crowded Crypto space. Payments to partners are made in the same way as other withdrawals, i. The app supports a wide range of trading instruments and provides real time data so you can make informed decisions no matter where you are. Returns or profits may be subject to capital gains tax. Payments to partners are made in the same way as other withdrawals, i. You can receive your Crypto signals in multiple ways as well. Another unique feature of PrimeXBT is the ‘Exchange’ option. Finally you can compare all the Best Affiliate Programs and TOP Affiliate Networksin one place. With advanced trading tools and a user friendly interface, PrimeXBT is a popular choice for both novice and experienced traders seeking to profit from the highly volatile crypto markets.

Step 6 Place a Trade

It offers up to x200 leverage, a user friendly interface, and is complemented by the copy trading service offered by the company. Nobody can predict when will that happen but we know it will happen at least once a year. Users must register before making a deposit to trade on the PrimeXBT platform. Trading digital and traditional assets from the convenience of one platform and one account. The trade fees are very straightforward. Simply put, not using a stop loss is a terrible idea. The first is that the price “jumped over” the trigger price, and the other is that there were orders ahead of you in the queue. Current Bonus Plan: When you first register at PrimeXBT and make your deposit, enter the code CRYPTONEWS7000 to get your bonus as a reward in your trading account, equal to your deposit up to a maximum of $7000. A few comments by Elon Musk over Twitter or indeed hacker attacks on the blockchain network, which can have a significant impact on the price of Bitcoin and other digital currencies. PrimeXBT makes a phenomenal one with its sleek, intuitive user interface. At PrimeXBT, we strive to offer engaging and rewarding trading opportunities to all our users, from experienced traders to newcomers. 2013/099697/07, having its registered address at 180 Lancaster Road, Gordons Bay, Western Cape, 7140, South Africa. You can also short a market with leverage if you wish. The absence of mandatory KYC and AML measures increases the platform’s risk of investigation and sanctions, similar to Binance’s $4. While it does have some limitations, its unique offerings and strong performance make it a worthwhile consideration for seasoned traders seeking more. Detailed information regarding fees can be found here.

Who regulates PrimeXBT?

Despite initially gaining around 80% profit on a long term position, my experience turned negative upon closing. Although this is a perpetual futures trading pair, not a direct comparison with our other trading tests, my experience trading derivatives on Binance, Bybit, KuCoin, and Kraken indicates that PrimeXBT performs just as well in terms of order execution and fills. Risks are posed by market rivalry, legislative uncertainty, and technological difficulties. For example: you have 0. 4 per BTC, with a market cap of $1875211865910 USD. This website is owned by Stack Advisory PTY LTD, a company registered in South Africa, with registration No. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. The margin trading model at PrimeXBT isn’t restricted to just cryptocurrencies. At the moment, an API interface is not available. PrimeXBT offers a beginner friendly platform to initiate your investment journey. It is ideal for experienced traders, offering advanced charting and a variety of tools to support diverse trading strategies. Please report any and all suspicious behavior, possible phishing attacks, fraudsters, and imposters to our 24/7 support team at. You can even buy a brand new Tesla car with Bitcoin. The process of exchanging cryptocurrency involves multiple steps, each of which may incur different fees. PrimeXBT places a lot of emphasis and effort towards their award winning trading platform and app. Given that PrimeXBT has developed a highly efficient trading engine, they are able to execute orders at below 7. Copyright © 2020 by Norbrook Equity Partners. This is active and available 24/7. Trading involves risk.

My Key Takeaways After Testing PrimeXBT on Mobile

Be especially careful to consider what users say about the platform during peak market volatility. Leverage is a tool that allows you to control a larger position than your existing capital would otherwise allow. Access to PrimeXBT services does not necessarily mean that client activities through the service are legal under local laws, regulations, or directives associated with a client’s country of residence; therefore, it is crucial for every client to consult with legal and tax advisors in their region regarding eligibility to utilize such services. The platform provides access to a wide range of pairs, including major, minor, and exotic currencies. Example: You have opened a long position on CFD on BTC. This will allow you to earn a commission from referring friends to the platform. An OCO order or One Cancels Other, is a conditional order. Because of this many still question if Ripple is a stable investment. Learn more about Baksta’s Legal Terms. But in a hypothetical scenario where the manager gets it right and earns you both a good profit – you split it into three chunks: you get 70% of the proceeds, the manager gets 20% and the platform takes its cut with the remaining 10%. Scan this code to download app. 3 billion fine for failing to comply with AML regulations. Click here for step by step instructions on how to make a deposit on PrimeXBT. As a P2P trading site, there are no withdrawal limits, but there are limits to the number of contracts, active offers, and volume allowed for a single trade. In order to access Crypto Currency Services, you need to open an account with Baksta through the trading platform and accept Baksta’s Client Agreement. In order to withdraw funds from your cryptocurrency exchange account, you need to submit a withdrawal request from your Personal Area. So, what about Kraken. Start trading smarter today. In order to access Crypto Currency Services, you need to open an account with Baksta through the trading platform and accept Baksta’s Client Agreement. We do not solicit clients residing in the above regions and only accept clients that register at their own initiative. It is designed to appeal to both high frequency traders and those making occasional trades. © Since 2005 – Powered by ❤️. However, I found the lack of biometric authentication support on the desktop platform disappointing, especially considering that Binance offers fingerprint scanning on the desktop.

Restricted Jurisdictions

Technology, Information and Internet. PrimeXBT Trading Services, S. Risk management is a focus on taking measures to protect against potential capital loss associated with trading and investing. PrimeXBT relies on a proprietary cold storage process that makes the platform virtually hackproof. Someone new to the space can quite easily buy XRP and begin their investing journey with the coin by just holding onto it and waiting for appreciation — or depreciation. These products are not suitable for all investors. To claim this bonus, follow these simple steps. Indeed, the curating, sourcing, and organization of this process requires substantial financial investment by Tradersunion. This could lead to significant potential losses if the market moves against their position. Learn more about Baksta’s Legal Terms. PrimeXBT acts as an independent contractor, not your agent. For those who do not pre own PrimeXBT Crypto, PrimeXBT allows users to acquire Crypto with credit/debit cards. With 2FA enabled, every time you log in or make significant changes to your account, you will be prompted to enter a code from your 2FA app. However, many things would have to fall into place for the market to be a long term one. To access it, navigate to ‘Hub’ and select ‘Referral Program. At PrimeXBT, we’re committed to providing educational resources that empower our traders to succeed. This characteristic can help traders make a Dogecoin price prediction by looking into the trading volume of transactions and circulating supply over a specific period of time. At the end of the day, that is the most important thing to know on a chart, and people will typically use technical analysis as an entry or exit signal, perhaps based upon the longer term movement known as “the trend. Being aware of these fees and planning accordingly can help avoid unnecessary expenses and optimize your trading budget. Avoid this exchange altogether. Therefore, we’ve decided not to include our usual rankings for PrimeXBT in this review. While it operates in the crowded trading landscape, PrimeXBT has built a solid reputation for its robust security measures, competitive fees, and 24/7 customer support, making it a compelling choice for traders seeking diverse trading opportunities on a single platform. Follow the instructions sent to your email to create a new password.

Key Features:

Additionally, the absence of mandatory KYC verification allows users from around the world to access the platform, bypassing geographical restrictions by using a VPN. Additionally, PrimeXBT charges funding fees regardless of whether you go long or short, unlike other exchanges that rebate fees when trading against the market. The central bank started to raise interest rates quite aggressively, as they need to bring down demand. On Bybit, you can deposit crypto, or buy directly using your debit/credit card, bank transfer, Google Pay or Apple Pay. Hello Vicente,Thank you for sharing your crypto futures experience at PrimeXBT. ” should know that the most popular crypto derivatives are futures and options. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. Virtual Assets are volatile and their value may fluctuate, which can lead to potential gains or significant losses. Users must register before making a deposit to trade on the PrimeXBT platform. Dear Rafael,We’re glad to hear that your onboarding experience with PrimeXBT was seamless. นโยบายการจัดส่งสินค้า. These products are not suitable for all investors. With a unique link, earn payouts from trading commissions paid by your referrals. This makes for a daily rate of 0. Occasionally, PrimeXBT users may face an issue where, despite a successful deposit transaction, the funds do not appear in their account. Crypto Futures and CFD Services on our inhouse platform are offered by PrimeXBT Trading Services Ltd PrimeXBT, a company incorporated and existing under the laws of Saint Lucia, with Registration No. This could include actions like bonus abuse, not meeting the required eligibility criteria, or attempting to withdraw bonus funds improperly. Indices: The platform offers 11 indices such as GER30, SP500, NASDAQ, and UK100, enabling traders to take positions in major global stock indices. You can check out more details in our full Changelly review. You can track the status of your promo codes under the ‘Promo campaigns’ section. Get your free account today. Having said that, it is crucial to respect the potential damage that can come with larger position sizing. Anyone with a verified PrimeXBT account can participate in contests, subject to specific contest rules.

FrancoPereira

The convenience of mobile helps you capitalise on more profit opportunities. 26% taker fees at the entry level which is not quite as competitive as the fee schedule for PrimeXBT which uses a flat fee schedule. Traders heavily rely on various indicators to recognise and predict particular market movements to plan out their trades. All traders who work with cryptocurrency through the PrimeXBT platform actually open an account with Baksta. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. The app is available for both iOS and Android devices, ensuring compatibility with a wide range of mobile devices. Trading on margin is extremely popular among retail traders as it allows for a significant market exposure with a relatively small trading account. The platform provides deep liquidity by partnering with top liquidity providers, allows you to tailor leverage to your risk tolerance, and lets you hold trades longer without high costs. These codes are often distributed through official announcements, partnerships, and promotional events. There are also chat rooms in Telegram, some of which are localized by the country of residence of the clients for convenience. We do not solicit clients residing in the above regions and only accept clients that register at their own initiative. The complex interface is unsuitable for inexperienced traders. Given the nature of isolated margin, where only a set amount of funds are allocated to support a specific position, higher leverage would mean greater sensitivity to market fluctuations. Customers can fund their accounts by depositing via bank card or bank transfer. It aims to give a clear and honest trading experience. The platform uses many protocols to keep user assets and info safe. Buy Amazon StockBuy Apple StockBuy Tesla SharesBuy Meta SharesBuy Google SharesBuy Pfizer StocksBuy NVIDIA StocksBuy AMD StocksBuy Microsoft SharesBuy Pepsico SharesBuy Adobe SharesBuy Intel SharesBuy Paypal SharesBuy Starbucks SharesBuy Netflix SharesBuy Moderna SharesBuy Zoom SharesBuy eBay Shares. Returns or profits may be subject to capital gains tax. Since PrimeXBT’s inception, services have been restricted to users or residents of a number of countries globally. However, the absence of custom price alerts was a notable drawback. The website is translated into 16 languages, is well organized and with enough information to get you started. They value the privacy and anonymity of cryptocurrency. This is an interest payment to cover the cost of the leverage that you use overnight.

FrancoPereira

Wallets: Balances in US dollars and Cryptos are viewable on the Main page. Being one of the top altcoins, LTC is often discussed by crypto experts. This method effectively measures the capability of customer support to assist both active traders and casual investors. The ability to sign up without KYC or ID verification appeals to those who value privacy. The fiat withdrawal process was straightforward but took a long time. I wanted to engage in crypto trading and it seems that I found suitable platform for this. Trading can indeed be a challenging journey, but it’s awesome to see you embracing it with such enthusiasm. It’s advisable to test any strategy on a demo account first to determine which works best for your approach before committing real funds. Validating your payment methods is a critical step in the PrimeXBT payment verification process. All reviews, either positive or negative, are accepted as long as they’re honest. Pyramid scheme complaint. Users have to put down a percentage of the required capital to take out a position.

ZamanSaylan

You might also like: PRIME XBT Review. All pending withdrawals are processed once a day, between 12:00 and 14:00 UTC. With a unique link, earn payouts from trading commissions paid by your referrals. This article provides a comprehensive PrimeXBT review. Among the disadvantages, we would like to point out that the withdrawal of funds is not round the clock, there is a small selection of cryptocurrencies in which you can deposit and withdraw, as well as the fact that the Personal Cabinet and a number of training materials are available only in English. However, it’s still unclear whether the platform merits investment. According to Chainlink’s website their Chainlink 2. Dear Zombos,Thank you for bringing this issue to our attention. In this scenario, a 10% price increase would yield a $500 profit. Accounts are based in BTC, ETH, USDT, and USDC for the greatest possible flexibility for margin management. Cryptocurrencies are also available for buying, selling and exchanging via Visa/MasterCard and PrimeXBT cryptocurrency wallet. We’re excited to announce our participation in Affiliate World, a premier event for affiliate marketers and e commerce entrepreneurs. Also the constant improvements and extensions of the platform are very praiseworthy. The company’s clients can buy and sell crypto futures with a fixed commission: 0. This post includes affiliate links with our partners who may compensate us. The prices tend to fluctuate by large margins, and it is possible to lose all of your investment. This is arguably acceptable for one simple reason: many traders are more weary of opening high leverage futures contracts for smaller coins and tokens. It could be viewed as a measure of trust; the accounts with more equity allocated could indicate that people respect their actions so much that they are willing to attribute such a large amount to them collectively. This duration accounts for the necessary security checks and processing time. At PrimeXBT, we’re committed to giving you quick access to multiple markets. In my testing, the platform was reliable and worked smoothly on both Safari and Google Chrome.

What is the minimum deposit for PrimeXBT?

306038128, having its registered office at Eisiskiu Sodu 18 oji street 11, Vilnius, Lithuania. The process of opening a cryptocurrency exchange account is quite easy. Once your Stop Loss is triggered, it becomes a Market order and is filled as such, taking into account the Spread for a given order size. In summary, PrimeXBT’s history is characterized by rapid growth, continuous innovation, and a steadfast commitment to providing a secure and comprehensive trading experience. Both options connect you directly to a customer support agent, bypassing any intermediary chatbot or AI. This will redirect you to the trading page and chart of your margin account. You can find more details in the “Refer a Friend” terms and conditions. Strategy managers on PrimeXBT’s Covesting platform provide transparent performance statistics, including. You can also short a market with leverage if you wish. The platform accepts various documents for KYC verification, including passports, government issued ID cards, residence permits, and driver’s licenses. Why Pocket Option Alternatives to PrimeXBT. This website is owned by Stack Advisory PTY LTD, a company registered in South Africa, with registration No. Estamos aquí para apoyar tu crecimiento. PrimeXBT offers an award winning crypto futures platform that supports copy trading. Human help when you need it. Market Discover: Although PrimeXBT lacks a dedicated discovery page for markets, the limited number of assets available makes this feature unnecessary. For withdrawal fees, opting for crypto withdrawals over the TRC20 network is more cost effective than fiat withdrawals. Social media channels of PrimeXBT, such as Twitter and Facebook, are also good resources for catching announcements about special offers and events that might include promo codes. Prices will also consolidate when trading volumes are low. The easy transfer from any network was a gig “+” sign, it made it so easy to transition from 4 placed I traded to one. This is something that you can get in your account management page under the “referral” section. These products are not suitable for all investors. Com just before completing your purchase. Users relying on a “free telegram” channel may unknowingly expose themselves to unscrupulous actors. However, the order form lacks the range of conditional orders found on Binance and Bybit, limiting strategies like TWAP. At PrimeXBT, we strive to make our platform accessible and user friendly, even for those new to the crypto world. Financial instruments can be designed in a variety of ways, providing flexibility that trading assets alone cannot match.

Office

We personally contact support using all available methods and present hypothetical problems that users might face. The cons of PrimeXBT include a lack of regulatory oversight, as it operates without a formal regulatory framework. PrimeXBT charged me a withdrawal fee of 0. Consider Ethereum as a long term investment; don’t expect overnight riches. By breaking down the different types of fees and their calculations, traders can develop strategies to minimize their costs and maximize their profitability on PrimeXBT. Customer support is an area where PrimeXBT truly shines. There are also plenty more success stories like Satoshi Bets and his followers being shared by users in the PrimeXBT Covesting Module Telegram group. Next, we will provide practical tips for using leverage on PrimeXBT. Invest €100+ in crypto and hold it for 30 days to receive €20 in BTC. PrimeXBT charged me a withdrawal fee of 0.