PrimeXBT Reduces Financing and Forex Trading Fees by 10X

August 22, 2019

Already, PrimeXBT’s fees are considerably lower than the majority offered by other trading platforms, and this move decreases the commission incurred on all forex instruments by a further 10X, from 0.01% down to 0.001%.

The per-day borrowing cost (financing) has also been significantly lowered across all crypto instruments for positions that are held longer than a day, and positions executed within the same day incur no financing fee at all.

10X Lower Trading Fees on Forex, Spot Gold, and Spot Silver

PrimeXBT’s 10X fee decrease is noteworthy when considering the foreign exchange market is the largest and most liquid market in the world, trading on average more than $5 trillion per day. This huge trading volume makes forex ideal for intra-day traders using leverage as it allows them to yield more of their profits on successful trades.

The PrimeXBT platform offers access to 18 of the world’s most popular forex instruments, all of which have been reduced by the factor of 10X. In the table below you can see all of the available forex asset pairs and their new lower commission rate.

Forex Pairs and Fees

Additionally, the trading fees on spot contracts for Gold and Silver have also been reduced by 10X.

Gold and Silver Fees
Overnight Financing Fees Reduced

PrimeXBT’s fee restructure allows traders to open and hold long-term positions with significantly reduced overnight financing fees which ultimately leads to an increased ROI. Therefore, trading at PrimeXBT is made more appealing not only for intra-day traders, but institutional investors, and long-term retail investors alike, with the benefit of these financing fee reductions being most pronounced when executing strategies that require trade durations longer than one day. 

PrimeXBT’s modified overnight financing fee structure
Covesting Fund Management Module Coming Soon

In yet another first, PrimeXBT is to become the first major crypto trading platform to provide its traders with the capacity to create or join investment funds, with the impending release of a full-scale peer-to-peer Fund Management Module.

The module is the product of a collaboration with digital asset exchange Covesting and marks an innovation that will combine the partner company’s sophisticated copy-trading technology with PrimeXBT’s world-class asset variety, industry-leading leverage, and advanced tools. 

This unique technology will allow traders and investors to work together to maximize their profits and share in their successes.

Traders of varying degrees of experience will be able to use the module to create funds, where investors may analyze a range of statistics, including the performance of the fund’s past trades.  Traders who would prefer to invest into funds with appealing ROIs and risk profiles will soon be able to easily do so, via this module.

All Features to Be Integrated Into PrimeXBT Mobile Apps

The Covesting Fund Management Module, as well as all of the web platform’s existing advanced features, including high-leverage positions, customizable trading interface, and the ability to trade a broad range of the world’s largest cryptocurrencies and traditional assets, will also be available on the PrimeXBT iOS and Android apps.

Now, with this move that sees the further reduction of the trading platform’s already low fees and financing, alongside its impressive array of features, PrimeXBT is positioned as one of the most attractive offerings for traders on the market.

About PrimeXBT

PrimeXBT is a fintech company established in 2018 which offers a Cryptocurrency, FX, Indices and Commodities trading infrastructure with up to 500x leverage for long and short positions, and aggregated liquidity from multiple liquidity providers. The company provides access to real-time market data and a wide range of trading analysis tools while maintaining security, liquidity, and enabling a safe and efficient trading environment for everyone.

For more information about PrimeXBT, please visit primexbt.com.

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For more information on this and other press release topics, contact Prime XBT PR department:[email protected]

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