How to start trading on PrimeXBT

how-to-start-trading-on-primexbt

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A guide that will lead you through the steps to start trading on PrimeXBT

Getting started with a new platform such as PrimeXBT can be a little bit confusing if you are newer and unfamiliar with leverage trading. PrimeXBT is a platform that has a lot to offer with the highest leverage in the industry on the cryptocurrency side while you also have the option to trade forex, commodities and stock indices – all in one platform. And we are going to get you through the needed steps to start your trading adventure on PrimeXBT.

We suggest that you read our review on PrimeXBT before going through this tutorial. It can make things easier after reading it as you will be more familiar with the exchange.

Find your way step-by-step on PrimeXBT

Step 1: Registration

primexbt-register-step1

To start your adventure go to the top right corner as in the picture and click “Register“. The registration is very fast on PrimeXBT as it doesn’t require KYC or any other hindering stuff in the way.

Primexbt-registration-tab-step
PrimeXBT Registration Page

Very easy registration as you are required to only fill:

  • (1) E-mail
  • (2) Password
  • (3) Confirm Password

The accept (4) the Terms of Conditions and Privacy Policy and (5) click on “Register” to finish the registration.

NOTE: After finishing the registration you have more security options in the settings to set up – like Google 2FA authentication.

Step 2: Depositing Bitcoin or FIAT

For deposits go to the left tab and click on “Deposit“, it will forward you to the deposit page.

PrimeXBT Deposit Page

This is the deposit page of PrimeXBT and as you notice you have two options

The first option is to deposit Bitcoin to your personal account address (1). The second option (2) is to buy Bitcoin with Debit/Credit cards through Changelly. And by clicking on the exchange button on the tab it will redirect you to the Changelly website to finish the deposit.

Step 3: Funding Trading Account

PrimeXBT Account Summary

Now that you have deposited Bitcoin you need (1) to go back to the “Account Summary” page and then click on “Fund Trading Account“.

primexbt-fund-trading-account
PrimeXBT Fund Trading Account Tab

In the “Amount” field (1) you input the desired amount of BTC that you want to transfer to the Trading Account. The click (2) “Transfer” to finish the funding process.

Trading on PrimeXBT

Step 4: Opening Positions on PrimeXBT

PrimeXBT Trading Page

NOTE: Before opening a position on PrimeXBT keep in mind that the leverage design here is different. Your “Trading Account” balance is providing liquidity for all of your open positions.

For you to start trading you need to (1) click the “Trade” button on the top left menu. This will take you to the trading page as shown in the screenshot. Next step is to find the asset which you want to trade. As you can see PrimeXBT offers quite a lot of options and for you to not be confusing click (2) “All Markets” and a small tab will pop-up below. It will give the option to filter all of the available assets by category – CFD, Crypto or Forex.

Now that you have found the assets that you want to trade it is time to open a position. On the right side you find a dashboard with available assets (it is completely customizable).

NOTE: Red is for sell/short position and Green is for buy/long position.

Click (3) on either of the two to open a position in the desirable direction which you think the price of the asset will go.

primexbt-order-tab-options-step-1
PrimeXBT New Order Tab

This is the “New Order” tab on which you set the order and activate it. If it looks too complex don’t worry it is not as the layout is done very well and we will explain everything that you need to set up the order correctly.

New Order Tab Options

  • (1) Symbol – the pair that you are opening position at the moment, which also acts a search. If you click on it you will be able to jump to another pair of your choice directly
  • (2) Order Type – the type of the order and from here you also select which one you want to use – Market/Limit/OCO or Stop order.
  • (3) The amount of the order in the corresponding asset
  • (4) From here you set the side – buy or sell
  • (5) Limit Price – the price target where you want your order to execute
  • (6) Margin Impact is showing how much of your margin will be used for the position.
  • (7) Placing Stop-Loss and Take Profit prices is done through here with an available preview of projected loss/profit
  • (8) Here you set the duration of the order GTC (Good-Till-Canceled) or DAY (expires at the funding period of the platform)
  • (9) Send order is the final step in the set-up of the order. Click on it to make the order active

Congratulations on your first open position on PrimeXBT!

achievement-unlocked-open-a-position-primexbt

Step 5: Managing and Closing Positions on PrimeXBT

Opening a position is not enough as you to need to have a very good management to emerge profitable on platforms with high leverage. Let’s dive into one of the most important aspects – managing positions.

Primexbt-managin-position-step1
PrimeXBT Managing Position

You will find the open position on the tab below with all the needed information. You can customize it to your preferences. Let’s continue with the breakdown of the position tab:

  • (1) This is the pair on which the position is open with its side (long/bought or short/sold)
  • (2) Size of the position shown with the price that it was filled and the current price of the asset
  • (3) Potential Profit or loss
  • (4) Here you will find the Take Profit and the Stop Loss if you had them set-up, don’t worry they can be adjusted at any time
  • (5) Time and Date
  • (6) Used Margin from the funds available in your trading account
  • (7) This is where you close the position which we will dive later on

Adjusting Take Profit and Stop Loss on a live position

PrimeXBT Adjusting TP and SL

You need to know how to modify your Take Profit and Stop Loss and to do that click with the right mouse button to see this tab (1) and click on “Modify Position“. Then you will see this tab and there you modify the TP and SL (2) which can be adjusted separately. After you are done click on (3) “Modify Position” and the settings of the position will be changed.

Closing a Position on PrimeXBT

PrimeXBT Close Position Tab

To close a position click on (1) the X in the right corner of the position tab or with the right button of the mouse and then “Close Position“. This will open you the “Close Position” Tab and from there you can choose how much from the position to close (2) as you can close a part of it. After you have chosen the amount that you want to close on the position, click on (3) “Close Position“.

Congratulations on closing your first position and your first profit on PrimeXBT!

achievement-unlocked-close-a-position-primexbt-2

Step 6: Withdrawing Profit on PrimeXBT

PrimeXBT Account Summary Page

Now after you made a profit and want to withdraw it, you first need to go (1) to the “Account Summary” page. From there you will transfer your Bitcoin from the Trading Account to the Main Wallet. Click on (2) “Withdraw to Wallet” to withdraw to the desired amount to the main wallet.

Withdrawing to Wallet pop-up tab breakdown

PrimeXBT Transfer Funds to Wallet Tab

This is the tab that will pop up on which you need to specify the amount that you want to withdraw (1) and then confirm it (2) to transfer the funds in the wallet.

After you have done this you need to go to the (3) “Withdraw” (as shown in the first screenshot) page to withdraw your Bitcoins.

primexbt-withdraw-page-step

On the withdrawal page, you will need to specify the address to which you want to withdraw (1) and the amount (3). On the right (3), you will find the transfer details with all the necessary information for the withdrawal. When you are ready with everything and have double-checked the withdrawal address you need to click on (3) “Submit to Withdraw“.

NOTE: Withdrawals on PrimeXBT are done once per day between 12:00 and 14:00 UTC and it will depend when the withdrawal is submitted.

Congratulations on going through all of the steps to learn how to trade on PrimeXBT!

Bonus

If you want to learn how to trade on another platform offering high leverage we suggest that you read our tutorial on “How to start trading on Bybit“.

And if you want to dive more into the history and price speculation, we suggest that you read our article for “The 4 year Bitcoin cycle“.

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