Bitcoin-based trading platform, PrimeXBT announced on Wednesday, 22 August 2019, that it has lowered its trading fees. According to the platform, the new fee structure includes a reduction in overnight financing fees on all crypto trading pairs, as well as a 10x reduction in trading fees across all forex pairs.
“We are delighted to offer new reduced fees to PrimeXBT platform users. We believe that traders should focus on trading opportunities rather than on costs. Oftentimes, amazing profit opportunities are being missed only due to unreasonably high fees. And we don’t want that – we are here to provide the best possible trading environment for our customers,” says a PrimeXBT spokesperson.
PrimeXBT features five of the most popular cryptocurrencies: Bitcoin, Ethereum, Litecoin, Ripple, and EOS and offers trading with up to 100X leverage. However, the company notes that the forex market is the ‘largest and most liquid market in the world, making forex ideal for intra-day trading with leverage’. They offer 18 of the world’s most popular forex currency pairs — for example, USD and EUR or GBP and JPN.
Since making the announcement, trading fees across all forex pairs have all been reduced by a factor of 10x. Trading fees on spot contracts for gold and silver have also been lowered by 10x. The new commission structure allows high-frequency traders to earn more profit on each successful position, and grow their capital at a faster rate.
Edited by Jenna Cook
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