PrimeXBT: How to trade Gold, Oil and more with your Crypto

By June 13, 2024 No Comments

Access to trading Forex, Indices, and Commodities, such as Gold and Oil, can open up new opportunities, providing the possibility to trade on market movements resulting from economic events and trends.

A truly all-in-one platform, industry leader PrimeXBT allows its traders to buy, sell, and store cryptocurrencies and use those same cryptos to trade over 100+ assets. 

This level of access is unprecedented, and unmatched setting PrimeXBT miles apart from even its closest competitors. 

Benefits of trading traditional markets with Crypto

PrimeXBT combines the best of both worlds by enabling you to trade traditional markets through CFDs (Contracts for Difference), using your cryptocurrency holdings. This allows you to speculate on the price movements of assets without needing to own them physically and provides an efficient way to diversify your portfolio.

CFDs often allow traders to use leverage, meaning they can control a larger position with a smaller amount of capital. This can amplify potential returns, though it also increases risk. For example, PrimeXBT offers leverage up to 1000x, allowing traders to maximise their exposure to the market. Additionally, CFDs enable traders to speculate on both rising and falling markets, meaning you can potentially benefit from market movements in a bear market by taking short positions.

CFD markets often provide high liquidity, ensuring that trades can be executed quickly and at desired prices. For instance, PrimeXBT is connected to top liquidity providers which ensures consistent pricing, tight spreads, and instant order execution without slippage. Moreover, trading CFDs can sometimes be more cost-effective than buying actual cryptocurrencies, as it may involve lower transaction fees. For example, PrimeXBT doesn’t charge trading fees at all and has reduced overnight fees for non-Crypto CFDs.

CFD platforms typically offer various risk management tools, such as stop-loss orders and take-profit orders, which can help manage trading risks effectively. In addition to these, they also offer advanced trading tools, equiping traders with the necessary resources to navigate the markets more strategically. For example, the PrimeXBT platform provides advanced trading tools powered by TradingView, enabling traders to make informed trading decisions. 

How to trade CFDs on PrimeXBT

  1. Deposit Crypto or Fiat: Fund your PrimeXBT account with cryptocurrencies like Bitcoin, Ethereum, or other popular coins. PrimeXBT supports a variety of payment methods including traditional fiat currencies, making it easy to start trading.
  2. Select CFDs: Navigate to the trading platform and select desired CFDs to trade. PrimeXBT offers trading on Metals and Energies, popular indices like S&P 500 and FTSE 100, as well as major, minor and expotic currency pairs.
  3. Leverage and Trade: Utilise the high leverage options available (up to 1000x for CFDs) to maximise your potential returns. PrimeXBT provides advanced trading tools  powered by TradingView to help you analyse market trends and execute trades effectively.

Why Choose PrimeXBT for Trading 

PrimeXBT stands out as an all-in-one platform for trading a wide range of markets, such as CFDs on Forex, Indices, and Commodities, using cryptocurrencies due to its comprehensive features and user-centric approach. Suitable for both beginners and advanced traders, PrimeXBT offers some of the best trading conditions in the industry. Coupled with advanced trading and risk management tools, it provides easy access and resources necessary to navigate financial markets. PrimeXBT employs robust security measures and 24/7 professional support for timely assistance whenever needed.

Get started with PrimeXBT to trade Gold, Oil and more with your Crypto.

Disclaimer: The content provided here is for informational purposes only and is not intended as personal investment advice. Past performance is not a reliable indicator of future results. The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. Virtual assets are inherently volatile and subject to significant value fluctuations, which could result in substantial gains or losses. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.  PrimeXBT does not accept clients from Restricted Jurisdictions as indicated in our website.