PrimeXBT Fees Explained | How Much It Costs to Trade Crypto?

Summary: PrimeXBT is an online trading platform that offers cryptocurrencies, commodities, Forex pairs, and major stock indices via contracts for differences (CFDs). In this brief guide, we’re taking a look at PrimeXBT fees.

What is PrimeXBT?

PrimeXBT is an online trading platform that offers access to cryptocurrencies, commodities, Forex, and major stock indices via contracts for differences (CFDs). 

By specializing in CFD trading, PrimeXBT allows traders to speculate on the price movements of assets without actually owning them. This enables traders to hedge positions, diversify their portfolios, and take advantage of market fluctuations using leverage. 

The platform is particularly suitable for those seeking high leverage, providing up to 200x leverage on Bitcoin (BTC) and Ethereum (ETH) CFDs. Its standout feature, however, is its copy trading module, which lets users replicate the trading strategies of more experienced traders.

PrimeXBT fees

PrimeXBT has a separate fee structure for each of its trading services:

CFD trading

PrimeXBT charges no fees on deposits and CFD trades, while withdrawal fees start at $0.5. Spread fees on PrimeXBT begin at 0.1%, and overnight swap fees vary depending on the asset.

The spread is the difference between an asset’ss selling and buying pricest. PrimeXBT calculates the spread price using the following formula: Swap Rate (%) x Asset Price x Amount (position size).

For example, if you buy 100 gold CFDs, each at $2,100, and the 24h Swap fee is 0.0016%, you will be charged $3.36 every 24 hours, because 0.0016% x 2100 x 10 = 3.36.

Crypto futures

For crypto futures, PrimeXBT offers fees of 0.1% for makers and 0.2% for takers. A taker fee is incurred when you execute a market order and take existing liquidity. On the other hand, a maker fee is incurred when you place a limit order and thus provide liquidity. 

Withdrawal fees for crypto futures go from $0.5. The platform’s transparent fee structure means there are no additional hidden costs.

The funding rates are calculated using the following formula: Funding Rate (%) x Asset Price x Amount (position size). 

For example, if you trade one BTC/USDT futures contract at the price of $69,000, and the funding rate is 0.01% charged every 8 hours, you will be charged 6.9 USDT every 8 hours for the open position because 0.01% x 69,000 x 1 = 6.9.

A funding rate is charged every 8 hours for all open positions. This rate represents the cost of borrowing funds to maintain your positions in the market, ensuring fair pricing and helping align the value of the futures contract with the underlying asset.

Copy trading

When copy trading, users get 40% of the profit. The remaining 40% is spread equally between the platform and the strategy manager whose strategies the user copied. 

Deposit and withdrawal fees

PrimeXBT exchange has a no minimum deposit policy, making it appealing to beginners and traders with smaller capital. 

Withdrawal fees vary depending on the blockchain used, such as Bitcoin, Ethereum, Binance Smart Chain, and Tron. Minimal fees are also applied when withdrawing to a bank account or using a locally supported method.

Minimum deposits

PrimeXBT offers flexible funding options suitable for traders of all levels:

There is no strict minimum deposit amount for cryptocurrencies. Users can start with any amount sufficient to cover the required margin for their trades. For example, the minimum order size for Bitcoin trading is 0.001 BTC. With leverage, the minimum margin required could be as low as 0.000005 BTC, depending on the leverage used.

For fiat currency deposits, PrimeXBT facilitates transactions through third-party providers, with a minimum deposit requirement of $10 USD.

Conclusion

PrimeXBT is a versatile and cost-effective trading platform offering access to cryptocurrencies, commodities, Forex pairs, and major stock indices via CFDs. With no fees on deposits and CFD trades, spread fees starting at 0.1%, and competitive crypto futures fees of 0.1% for makers and 0.2% for takers, PrimeXBT ensures traders can maximize their profits. 

The platform’s transparent fee structure eliminates hidden costs, while features like high leverage, copy trading, demo trading, and a welcome bonus make it appealing to both beginners and experienced traders. Overall, PrimeXBT provides a robust trading environment with flexible options to suit various trading needs.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

FAQs about PrimeXBT fees