Topic: [ANN]🔥[100X LEVERAGE TRADING]🔥 PrimeXBT- Maximize your Bitcoin profits!🔥🔥🔥 (Read 56451 times)

today I watched this where this crypto influencer on youtube says he's going to start leverage trading on primexbt and it felt so scammy as you could put in your funds and get only taxed on profits.. https://www.youtube.com/watch?v=xkGDg3wzB6k

Then i dig a bit deeper and ended up here.
My first idea when seeing that video was looks kinda fishy.

Just sharing it here.

I was about to ask how to take 100x leverage but then I saw -6 trust given to OP. This makes it very suspicious platform.
Has anyone here used this exchange ?

A new review post about PrimeXBT - https://gocryptowise.com/blog/primexbt-review-leverage-trading/

Is anyone on here using PrimeXBT today?

PrimeXBT has released Binary Options today, which is highly dissapointing. Wonder how long until it gets swarmed by authorities.

Awesome article outlining the positiveness in primexbt's reputation.

Exchanges often order black pr on each other and putting down primexbt while it was new was quite easy. Now that its been some time we can take a second look at what they achieved during the crypto "winter"

https://medium.com/@tech_banterist/primexbt-scam-or-trustworthy-platform-c12ec07dcff7

Thanks, cool.

PrimeXBT Trading Services Ltd (Seychelles company nr. 206865) and Prime Technologies Ltd. (Saint Vincent and the Grenadines company nr. 25369BC2019).

Where is PrimeXBT based? In the US or Europe?

This is probably their standard macro for this issue.

I had the same issue and livechat explained that it was an issue on their behalf and covered my negative balance without me touching funds from the wallet section.

So far so good.

Thats quite different from the reply i got regarding your issue:

Yes, the problem is resolved now. Yesterday, liquidation stop-out triggers didn't fire on a few accounts due to a technical issue. We have already compensated all accounts that went negative to bring their balance to back to 0. Part of the maintenance earlier today was intended to fix this issue. We have also put additional monitoring on the margin call triggers and will keep them active and in place until we're sure that the problem is fully fixed and won't happen again

Can you contact Prime Xbt live support chat?
i have heard of ocassions that they make refunds for their system mistakes, they are still ironing out the last bugs on their platform.
[/quote]

Yes, I e-mailed them and here was their response and quite concerning that they basically said I was normally responsible for paying the BTC back.  Needless to say, I won't be using them again.

PrimeXBT [Support]
Tue, May 7, 7:51 AM (1 day ago)
to me

Dear Trader,

Your open positions at PrimeXBT were liquidated due to insufficient available margin and after settling the liquidation trades your trading account balance was below 0: -0.05836307 BTC

Liquidation occurs when Available Margin on Trading Account drops below 0%. Any open positions are closed by the assets being sold/bought back (depending on if the positions was a Long or a Short) at Market price, and Available Margin is used as collateral to cover any losses. In most cases it is sufficient to keep the remaining balance positive after the liquidation.

However, as with any Market order, during extremely active market hours or times of swift market action, liquidity in order books may be insufficient to close the positions at the trigger price (bid/ask). In such scenarios Slippage can occur, which causes a price gap when closing the positions. Due to such Slippage during times of insufficient liquidity, account balance can become negative, which is what occurred with your positions.

Under normal circumstances, to continue trading at PrimeXBT you would have to cover the debt in your trading account first.

As we appreciate your interest in trading at PrimeXBT we have decided to write off the debt from your trading account at no cost for you. Your account debt has been cleared and reset to 0. You can deposit and continue trading without restrictions.

We recommend to utilise Additional Stop-Loss and/or Take/Profit protection orders to help minimise the risk of such losses and to allow you to lock in profits automatically.

Thank you for being with PrimeXBT.

Interesting move from Covesting, been watching them for a while and have used Prime a little too so look forward to using their copy-trading functionality on Prime.

Inquired about this problem and got the following reply from live chat support

"Yes, the problem is resolved now. Yesterday, liquidation stop-out triggers didn't fire on a few accounts due to a technical issue. We have already compensated all accounts that went negative to bring their balance to back to 0. Part of the maintenance earlier today was intended to fix this issue. We have also put additional monitoring on the margin call triggers and will keep them active and in place until we're sure that the problem is fully fixed and won't happen again"

I had similar situation during very volatile BTC move and Primexbt covered the negative balance. Wait until tomorrow and you will find your negative balance covered to 0
They dont have negative balance protection policy (according to the site) but I saw somewhere in reddit that primexbt always covers negative balances during the next day ‘rebalancing’ which is what I experienced as well.

Can you contact Prime Xbt live support chat?
i have heard of ocassions that they make refunds for their system mistakes, they are still ironing out the last bugs on their platform.

No negative Balance protection, beware!!

So I decided to deposit a small amount to PrimeXBT to test it out.  It was only .01375BTC (less than $100) and decided to go all in long at an average BTC price of $5,830.  I figured I would just go to bed as I was pretty sure I was going to be liquidated overnight if the balance got too low.  I forgot about it until the following afternoon and received no e-mail notification to inform me I was liquidated, even though BTC was down to $5,675.

I log in and find out my available margin is negative 475% and they did not liquidate my position or give me a warning about my margin!!  After quickly closing positions my balance was negative .06BTC.  Now that is not a huge amount of money, however, it's quite concerning that if I had done a much larger trade that my balance could be potentially be in the negative in many multiples of what I put in to trade.  Had I not logged in and BTC continued to drop who knows how much I would have owed.  As far as I know, all of the other leveraged trading sites have negative balance protection.  Thoughts on this?

For those wanting to signup under someone and get 4 referrals back one per each aff level please check this telegram channel and join the chain https://t.me/PrimeXbtReferralChain

Covesting - The first complexity level 3 DLT licensed trading platform & exchange licenses its Crypto Trading Solution to Prime XBT

https://www.financemagnates.com/cryptocurrency/news/covesting-licenses-its-crypto-trading-solution-to-prime-xbt/

I guess ranking 1-10 are FAKE

but ranking 11-10000 are real

i wonder why topic starter dont send any post regard of SCAMING PrimeXBT for defend of their site  here

 i see he is online every day and he check topic . so this silent confirm all these guesses


I JUST WANT REQUEST ARE THERE ANY ONE RANKING 1-10 HERE

I never trust to them for sending amount equal my prize for get my prize . its so dangerous in my mind ...

No, we did not end up being #1 place nor being among top 10 neither.