PrimeXBT App Review: Why The Trading Platform Won Forex Awards' 'Best Crypto Trading App'
Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
PrimeXBT is an award-winning trading platform, but in particular, it also took home the prestigious Forex Award for Best Crypto Trading app. The platform offers a free mobile app for Apple and Android smartphones that lets traders stay connected to global markets and their portfolios and positions 24/7.
In this in-depth PrimeXBT app review, we're digging into why the margin trading platform won the award focused on the mobile application. We also provide a full breakdown of all of the application's most important features and the platform's competitive advantages.
There Is No Place Like Home
Much like the iconic phrase is instantly recognizable as a line from the Hollywood classic The Wizard of Oz, the second you open the PrimeXBT app for the first time, the visual design and Home section will feel immediately familiar if you have ever been to the industry-leading margin trading platform before.
The Home section provides a top-down view of all available funds, wallets, and any active margin accounts or Covesting followings. The exchange module is also located here, allowing users to swap one type of cryptocurrency for another quickly. Tapping any of the individual wallets will immediately take you to a page where you can view transaction history or make a deposit or withdrawal.
As part of a new update, PrimeXBT has recently improved the withdrawal process by segregating it into a more streamlined and transparent step-by-step process. Withdrawals are made every 24 hours as part of a proprietary cold storage process protecting customer funds.
At the top of the Home section, there also lies convenient one-tap access to account profile and settings, 24/7 customer service live chat, and a complete transaction and trading history.
Trade With The Best Tools Around
The following section to the right of Home is Trade, where the margin trading magic happens. Swiping left and right in this area takes you to different windows consisting of Account, Markets, Chart, Positions, Orders, and History.
The account section lets users manage margin levels separate from their cryptocurrency wallets. Users can take profit into a wallet or add margin if the market moves against their positions. Markets acts as a watchlist broken down by asset class where users can keep tabs on global markets as a whole.
The Chart area is self-explanatory but adds value to what would otherwise be a simple visual tool by including dozens upon dozens of popular technical analysis indicators such as the Advance/Decline, Donchian Channels, Ichimoku, Parabolic SAR, TRIX, Supertrend, and more.
Traders can place buy or sell orders for long or shorts in more than 100 different trading instruments. The Positions area lets traders see all open positions, where stop-loss orders are placed and can manage their portfolio and make modifications at any time while on the go. PrimeXBT provides access to crypto, forex, commodities, and stock indices.
Orders lets traders see which limit orders are lying in wait, hoping to get a fill and turn into profits, while History lets traders get a past look at winning and losing trades. Here, traders can also share a graphical snapshot of their PnL to boast on social media or send to friends via a messenger app.
Copy Trade Experts With Covesting
To the right of Trade is the Deposit page, where users can top up margin account collateral using BTC, ETH, USDT, USDC, and COV. COV token is the native utility token to the Covesting ecosystem, which takes us to the next page to the right of the Deposit page called Copy Trading.
The Covesting copy trading module consists of a massive leaderboard where strategy managers have their performance rated and ranked by ROI and all performance-related metrics listed transparently for followers to view.
Followers can use this information to make informed decisions about which strategies to follow. By following a strategy manager, followers will automatically copy any trades the strategy manager makes, win or lose. Picking the right strategy to follow is clearly essential, but with capital in the right hands, novices can still profit from global markets while letting more experienced traders do the hard work.
Top strategy managers have earned as much as 90,000% ROI. Currently, top strategy managers have as much as 5,700% even during current market conditions. Using the app, followers can manage a portfolio of strategies, view the leaderboards, and activate COV token memberships using the MyCOV section.
Review Summary: The Best Crypto Trading App
All of the above is jam-packed into a free mobile app for Android and iOS devices. Other platforms would charge for such an all-in-one experience, while PrimeXBT welcomes all users to download and access at no cost.
Volatility can strike at any given time, and traders need to be ready at any moment to react or be well-prepared with proactive risk management tools. The application gives traders the flexibility they need by being able to stay on top of ever-changing global markets while on the go. Users can take new positions, move stop-losses, manage their portfolios, and even copy trade other top traders from anywhere in the world.
After reading this review, it is clear why PrimeXBT has been awarded Best Crypto Trading App. No other crypto trading app in the market provides access to so many different products, features, services, and tools under only one roof. The PrimeXBT mobile app provides trading without limits. If you haven’t already downloaded the PrimeXBT app, you can get it for free by visiting the Apple App Store for iOS devices, or the Google Play Store for Android