How To Leverage Trade On PrimeXBT?

PrimeXBT is one of the most prominent crypto exchanges in the cryptoverse and when it comes to leverage there are not many players who are close to it.

PrimeXBT currently offers up to even 1000x leverage for selected assets. Now just imagine how profitable leverage trading on PrimeXBT can be.

However, for the majority of the assets, there is 100x leverage provided.

PrimeXBT is an advanced, award-winning trading platform that offers a wide variety of Bitcoin-based CFDs with added leverage, and long/short positions on stock indices, commodities, forex, and cryptocurrencies.

Introduction

PrimeXBT is among the youngest exchanges in the market; that was founded in 2018 but started offering trading services only in early 2019. It is headquartered in Seychelles and provides a wide range of markets, including cryptocurrency, forex, indices and commodities.

Leverage is a vital feature of a PrimeXBT trading platform and can be a powerful tool. You can use this leverage to benefit from comparatively small price movements, ‘gear’ your portfolio for greater position size, and make your investments grow faster.

Leverage trading lets you take much larger positions and lets you multiply your profits with borrowed funds from the exchange.

Leverage works by using a deposit known as margin, which provides you with increased exposure. Here, you’re putting down a fraction of the total value of your trade – and PrimeXBT is providing you with the rest.

PrimeXBT allows you to gain exposure to major cryptocurrencies, such as Bitcoin and Ethereum and others, without tying up lots of capital. You can refer to the following table to get an insight into leverage trading on PrimeXBT.

 

*About the $7000 deposit*

  • It can be used only for Margin trading (not for Covesting, Staking, etc).
  • The bonus lasts for 14 days after it’s entered into the dashboard. After that, it’s removed from the account. Any withdrawal also removes the bonus amount from the account.
  • The bonus amount can’t be withdrawn but it can be used for trading and you can withdraw profits from trading with this bonus.

Leverage Trading

Minimum deposit
CCY Balance BTC, ETH, USDT, USDC, COV
Assets Crypto 41, FX 50, CFD 14
Spreads from 0
Max leverage 1% (1:100)
Commission From 0,0001%
Execution Market
Execution speed up to 20 ms
Order types Limit, Stop, OCO, Market
Promo Promocodes, Account status
Following No
Following min amount
Following entry fee
COV Utility No

How To Leverage Trade On PrimeXBT?

To start your leverage trading journey on PrimeXBT, you first need to register yourself on the platform. Follow the following steps to register:

register PrimeXBT

Register

  • Visit the registration page by clicking here.
  • Enter your e-mail ID and a secure password; agree to the terms and conditions; you can optionally provide your phone number as well.
  • Click on ‘Register’ and confirm your registration by entering the 4-digit PIN code you receive via email.

After registering, you can deposit funds into your account wallet; let me tell you how.

 

Deposit

  • Visit the main page of your account dashboard and select ‘Direct Crypto Deposits’ or ‘Buying Crypto’.

For direct crypto deposits

  • Choose your deposit currency.
  • Copy your PrimeXBT wallet address.
  • Paste into the destination field on the site/wallet service or use the provided QR code from which you are sending funds.

For buying crypto

  • To purchase, click ‘Buy Crypto’ or ‘Bank Card’, which will pop up a widget to make the purchase.

Now, you can set up a margin trading account and internally transfer funds from your PrimeXBT wallet to your margin account.

  • Click on the deposit button in the margin trading account section of the website and then deposit in the wallet provided.
  • Once the transfer gets confirmed, the equity on the margin trading account will change, and the new balance will be reflected.
  • You can also pick a margin account with a currency you want to trade in. PrimeXBT offers Bitcoin, Ethereum, Ripple, Litecoin, USD coin, T and more.
  • Just click on ‘Open new account’ and pick the crypto of your choice.

Once the margin account has been successfully set up and funded, the next step is to start placing trades. To get your margin trading page, click on the ‘Trade’ button located in front of the margin account of your choice.

  • This will redirect you to the trading page and chart of your margin account.
  • On this page, you can begin choosing what pairs to trade, analyzing, marking out key levels and placing your orders in the market.

Now, I will tell you how to enter a position with leverage on PrimeXBT.

Choosing a crypto pair

Choosing a crypto pair

On the watch list, you can easily customize and populate with the trading pair of your choice. Click on the ‘Trade’ button in front of the pair, which will open a chart displaying the price of your chosen crypto pair.

Technical Analysis

PrimeXBT has an excellent charting interface which comes with sufficient indicators to help traders with optimum technical analysis. With over 90 different types of indicators, you can customize the charting interface and indicators according to your trading needs.

You can also create and import your own custom tools, indicators and expert advisors (EA) on the platform.

Choose an order type

Choose an order type primexbt

To make a market order, just click ‘market’; the leverage will be already set to 100x; you need to now set the quantity you wish to trade. ‘Available margin’ shows what you currently have in your account.

To stop loss and take profit order types, when you click ‘long’ or ‘short’, you will enter these order types level.

When you click ‘Confirm’ in the bottom right corner, your market order will be executed. Take profit and stop loss levels will enter the order book as conditional orders that will trigger automatically if the price meets that level.

Final Confirmation

Make sure you review your order carefully before you press ‘confirm’. Check that the quantity is correct and that the liquidation price is a level you are comfortable with. Also, ensure that your stop loss will be hit before your liquidation price. When it’s all done, press ‘Confirm’.
Final Confirmation primexbt

View your Open Position

The open leveraged position will be visible at the bottom of your trading screen. ‘Qty‘ means the number of contracts that your position is worth at the time of opening. Every contract represents 1 USD of value.

Value‘ is the same number but in BTC terms, and remember, it’s your initial margin + the leverage combined that sums up this number.

Margin‘ shows the funds that have been drawn from your account to open the position, and ‘P&L’ is your current profit or loss. ‘Daily realized P&L shows you how much realized profit or loss you have. This number is affected by fees and rebates.

Close your Position

You can close your running positions on PrimeXBT using either a market or limit order. For market orders, you can easily click on the “x” cancel button in front of your trading pair.

Close your Position primexbt 1

You can easily place your take profit and stop-loss orders for the conditional order type. It will show up under their respective taps.

Close your Position primexbt

What’s The Maximum Leverage On PrimeXBT?

PrimeXBT offers one of the highest and very competitive leverages in the market. The maximum leverage available on PrimeXBT is 1:100. This means that for each $1 you trade, you get $100 with of buying and selling power.

Comparing it with some of the other prominent players in the market, PrimeXBT is quite remarkable for an exchange so young. Additionally, you can also change your leverage. Let’s discuss how can you do that now.

How To Change Leverage On PrimeXBT?

PrimeXBT automatically provides you with the highest possible leverage when you open a position, which you can control by choosing the position size.

Suppose you have 0.01 BTC in your trading account and wish to trade BTC/USD. You can open a max position of 2 BTC which will result in maximum margin utilization at 1:200 leverage, and only 0% of the available margin will remain. But you don’t require to open such a significant position.

Instead, you can open a 0.1 BTC position using only 10x leverage against your 0.01 BTC equity. A more available margin-left and less risk of position liquidation should help the market move unfavourably.

Similarly, if you open a 0.5 BTC position, it would amount to 50x leverage against your margin, and so on. So, you have complete control over your leverage and risk by controlling position sizes in your portfolio.

 

What Are The Trading Fees On PrimeXBT?

The fee structure of PrimeXBT is quite simple and straightforward. The platform allows spreads from as low as 0 with no minimum deposit, which is a massive relief for new traders.

PrimeXBT charges a net commission of 0.05% for every crypto trade, no matter which asset you choose to trade. Additionally, PrimeXBT also charges 0.0005 BTC for every withdrawal and an overnight fee if a position remains more than overnight. This fee varies from trading pair to pair.

Conclusion

You might have already realised that PrimeXBT is an excellent tool for all your trading needs. Talking about leverage, in particular, PrimeXBT is one of the best choices currently available in the market.

It comes with a vast set of functions and advanced technical analysis tools for the best leverage trading experience you will ever get on any other platform. PrimeXBT also offers a user-friendly interface with an impenetrable security system and anonymous trading option, all at affordable pricing.

Additionally, PrimeXBT also offers referral programs giving you additional benefits. The platform is also offering a 5% deposit bonus (up to $500) as a welcome on your first deposit on the trading platform for all new users who deposit within 24 hours of sign-up.

So what are you waiting for? Get your hands on PrimeXBT, enjoy its unique features and see your profits shoot up. 

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Jack Bailey

I am John, a veteran trader turned into a trading coach. Especially in the realm of cryptocurrency derivatives which is now booming and expected to grow big.