PrimeXBT: review and review of the Prime HBT marketplace. I liked it, but there are nuances

In this article I will tell you about my experience with the PrimeXBT trading platform and give a brief overviewreview. I'll tell you what I liked and what left mixed impressions. I will point out the nuances that may confuse traders who come to the site for the first time. Original post on my blog.

About PrimeXBT

This company was founded in 2018, registered in the state of Saint Vincent and the Grenadines, has 3 offices and more than 40 employees. Company website: primexbt.com

First of all, I note as a disadvantage the fact that not all information on the site is translated into Russian. I hope this will be fixed soon.

The advantage of the platform is the presence of not onlycryptocurrency pairs, but also forex tools, metals, indices. There is a mobile version of the terminal, which has good functionality and works correctly.

This is a good start and was suggested at one timecolleagues from BitForex added forex currency pairs and the Metatrader terminal to their tools, since their own platform was inconvenient and did not work correctly. It's nice that they listened and did it.

Features of the PrimeXBT Trading Platform

There is no information on the website about what levelstopout is set on the platform and when the position is liquidated. Many brokers set it at 100%, 50% and so on depending on the account type and trading conditions. Empirically, I have found that positions are liquidated when the “free funds” tab shows 0. For example, you replenished your account with 1000 cu, opened a position using 800 cu as a margin. So, liquidation will occur as soon as the loss reaches $200, and there is no available margin left.

Be sure to take this feature of the PrimeXBT trading platform into account, since in other companies, such as BitMEX, BitForex, Alpari and others, everything happens differently.

Example: You trade on an account of $ 1,000 with a leverage of 1: 100 and open positions in Alpari using $ 800 as a margin. If the paper loss is $ 200, you are not forcibly closed, since the level of stop-out is 20% of the margin value. Liquidation will occur only when the loss on open positions reaches $ 840.

On the Prime HBT platform, this will not happen.

And that's why many traders who are used to working at other sites canCognitive dissonance: when you open positions in PrimeXBT on all depots, it becomes more difficult to lose money than when trading small amounts.Just consider this moment: elimination comes when there is no free margin.At margin, all positions that are traded at the moment are closedIf this happens at the weekend, and you have open forex trades, they are not eliminated.

The second point I want to note isThese are custom lot sizes. Traders who are used to working in MT4/MT5 know that the standard lot for currencies is 100,000. Not so with PrimeXBT. Initially, I opened positions of 0.1 lots in currencies and saw that the volume was too small. Again, it was experimentally found that 0.2 lots in MetaTrader is equal to 20,000 in the PrimeXBT trading platform.

For XAUUSD gold like this: 0.15 in Metatrader = 15 in PrimeXBT.

Just keep that in mind.

Execution is fast, there were no requotes. It is possible to set stop loss, take profit, trailing stop works correctly. You can open positions both in the market and in pending orders.

By the way, about orders: I noticed a serious “jamb” that pops up when trading Ethereum on the market:

As you can see, the bid/ask of the ether on the graph is different from what you are offeredI hope this momentthe administration of the exchange will correct, as other instruments have not observed this.

Another point that I would suggestfinalize in the trading platform - the chart does not show the established stops and take profits. It is also advisable to add the ability to dynamically change them by dragging with the mouse, as it is organized for pending orders.

My introduction to the PrimeXBT platform wasshort-lived and something I just did not have time to evaluate. So this review does not pretend to be objective. I covered only part of the work on the site and I hope that the information presented will be useful to you. Perhaps the article will be finalized and supplemented, and other materials about the company will appear on the blog.

PrimeXBT Reviews

The exchange left me with positive impressions andI hope that she will continue to develop her services, translate the site materials into Russian in full, eliminate the shortcomings with orders, and refine the functionality.

I express my gratitude to the management of the exchange for their trust and the opportunity to test the features of the trading platform.

Thank you for the attention.