PrimeXBT – a popular trading platform that allows traders to utilize up to 500x leverage to trade a wide variety of assets – has debuted a new fee structure that provides noteworthy incentives for traders, offering an astounding 50% discount on all trading fees to the most active traders on the platform.
The trading platform’s latest efforts to reduce their fees are in-line with their mission to offer the multiple industries they serve unparalleled transparency when it comes to the cost associated with utilizing their cutting-edge tools, and to make the exchange more enticing to active traders.
PrimeXBT recently released a guide in a blog post detailing the new fee structure, which will offer fee reductions based on trader’s Bitcoin turnover, with tiered discounts as high as 50% for the platform’s largest and most active traders.
Importantly, PrimeXBT’s fees are already low compared to the industry standards, and the new initiative to reduce fees provides active traders with just another reason to utilize the platform – which has boomed in popularity in the time since its 2018 launch due to its suite of advanced features, including state-of-the art indicators and charting tools, aggregated liquidity, multiple order types, and unparalleled wallet security.
Casual traders utilizing PrimeXBT with a turnover of between 0 to 300 BTC will pay the basic low fees already offered by the platform, with turnover for all tiers of traders being calculated on a running 30-day period.
More active traders who have a turnover of between 300 to 600 BTC will be entitled to a generous 25% discount on all fees, which will help them increase their profitability and structure their trades in a way in which they are able to maintain more of their capital.
The most active traders on the platform with a 600+ BTC turnover will receive an unprecedented 50% discount on all trading fees, which will allow them to allocate more capital towards their trades and less towards paying their fees.
The platform introduced a new interactive widget on their site that allows traders to quickly find what their 30-day turnover is and what discount they are receiving. Traders can also use this widget to see if they are automatically receiving any other short-term promotional discounts.
This type of transparency is unprecedented within markets that are historically rife with hidden fees.
Although Prime is sacrificing valuable revenue for the sake of its most loyal clients, other major trading platforms are raising their trading fees in an effort to exploit traders.
Earlier this month, popular cryptocurrency exchange Coinbase Pro announced that they would be increasing the trading fees associated with all traders transacting less than $50,000 worth of cryptocurrency by an astounding 150%.
This increase in fees was met with swift backlash from the crypto community, as lots of traders astutely pointed out that Coinbase Pro was raising fees concurrently with the recent downturn in the aggregated crypto market and was targeting smaller traders.
Unlike Coinbase Pro and other platforms, PrimeXBT also allows traders to utilize 100x leverage on all their supported cryptocurrencies, which means that they can utilize significantly greater capital when making trades, allowing them to experience substantially higher profitability compared to spot-trading platforms.
In addition to this, PrimeXBT’s continual efforts to reduce fees also sets them apart from platforms like Coinbase Pro.
PrimeXBT’s latest initiative to offer massive discounts to active traders is part of their credo of building a platform that gives traders as many opportunities as possible to build and execute profitable trading strategies.
Officials at the company commented on their latest initiative, explaining that “new traders will enjoy our competitive fees, while the most active traders on our platform will be rewarded with up to a 50% reduction in trading fees across all assets.”
As traders face turbulent market conditions, platforms like PrimeXBT are able to offer them the ability to profit no matter which direction major assets are moving, and their latest move to increase trader’s profitability by reducing fees is certain to usher in a new era of transparency and low-fee standards in the markets.
Disclosure: This is a sponsored article
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