Prime XBT is the new cryptocurrency trading platform that’s armed and ready to empower the next generation of crypto traders. Due to launch this January 2019, the trading terminal provides users with advanced techniques and strategies, illustriously leveraged by traditional FX and equity markets for many decades now.
Existing exchanges are typically limited with the types of orders and positions offered to users, as opposed to a cryptocurrency brokerage like PrimeXBT that provides several ways to increase a traders ROI without having to outlay more capital. This is made possible by the direct interaction with the platform itself that lends funds to users so they can place larger positions than their account balance - with margin trading and leverage.
To margin trade is to multiply your position by X amount of leverage. The margin is the % of your funds in proportion to total position taken with leverage. For example, if you deposited $100 to trade with 100X leverage, the total position becomes as powerful as $10,000 and your margin is only 1%. The margin is what you stand to lose if the trade is unsuccessful, or you might say the “collateral” for being able to monopolize such a large position. When you take into account that whatever you profit is multiplied by up to 100, it’s a relatively small price to pay. This strategy is perfectly suited to augment profits from only small price movements.
Margin trading is commonplace and incredibly popular in traditional FX and stock trading, as well as short selling - which is likewise still rarely offered in cryptocurrency trading to date. Prime XBT also allows for short selling, which means that traders can take advantage and profit from declining markets. This is made possible, again due to the interaction and lending from the platform. Essentially, to short sell or ‘go short’, a trader borrows funds in order to sell high, buy low and keep the difference.
Furthermore, PrimeXBT allows for the simultaneous use of stop-loss and limit orders, which enables traders calculate their risk vs reward boundaries, and pre-set at which point they wish to enter and exit a trade. This is incredibly valuable, so that traders don’t lose more than they’re willing to risk. Clear guidelines based on risk management are effectively enforced with these advanced order types.
As with all trading, a sound understanding of technical analysis is a fundamental prerequisite before enjoying the benefits of leverage. PrimeXBT shares tips and ideas on how to read market trends and conduct technical analysis with their community via Twitter, and also on TradingView by following their professional trading team.
PrimeXBT represents the evolution of the cryptocurrency industry, and is poised to accommodate all traders that wish to expand their toolkit and skillset with more options and opportunities available to increase their profits potential. The PrimeXBT platform boasts a highly sophisticated and user friendly interface that’s customizable to suit the individuals needs.
With multi-monitor support, advanced trading tools and charting software, plus aggregated liquidity from the 12 leading exchanges, Prime XBT is suitable for traders of all levels - be they beginners, professionals, or even traditional FX/stock traders and institutional investors.
To incentivize new users, Prime XBT is running a referral rewards program, giving away $1,000,000 worth of BTC. The person who refers the most people will be awarded with the BTC equivalent of $250,000.
To find out more, head to PrimeXBT.com.