# Frequently Asked Questions (F.A.Q.)
## **General Questions**
### *What is PrimeXBT?*
PrimeXBT is a trading platform, offering a 'one-stop-shop' solution with numerous products and services combined in a single account with an intuitive and user-friendly interface:
* **Margin trading platform** – trade Crypto, Indices, Commodities and FX with up to x1000 leverage, allowing you to maximize your profit potential and earn from both rising and falling markets through CFD contracts (Contract-for-difference). [Learn more](https://github.com/prmxbt/gitbook/blob/master/f.a.q./broken-reference/README.md).\\
* **Copy-trading module** – profit by setting up and managing your own **Strategy** and/or **Follow** (copy) Strategies of other successful traders. A Strategy is a pool of a trader's personal funds which is visible to the public and can be Followed by others. This provides an excellent opportunity for both experienced successful Traders and Followers to earn and greatly boost each other’s profit potential. [Learn more](https://help.primexbt.com/covesting/covesting-faq).\\
* **Contests** – test your skills and compete with other participants to win prizes by trading Crypto, Indices, Commodities and FX with up to x1000 leverage with virtual funds creating a risk-free environment. [Learn More](/help-center/contests/faq.md).\\
* **Buying Crypto** – allows you to buy BTC, ETH and ERC20/BEP20 tokens - USDT and USDC - using a Bank Card / SEPA transfers / Gift cards / Alternative Cryptocurrencies via third-party exchange services. [Learn More](/help-center/deposits-withdrawals/how-to-deposit.md#buying-crypto-via-credit-card-sepa-transfers).\\
* **Currency Exchange** – in-wallet exchange service feature which allows you to exchange BTC, ETH, USDT and USDC amongst each other, directly between your PrimeXBT account Wallets. [Learn More](/help-center/deposits-withdrawals/currency-exchange.md#how-to-exchange-currencies).
### ***What markets can I trade?***
Cryptocurrency, Forex, Indices and Commodities. A detailed list of all available pairs and instruments can be found [here](https://primexbt.com/fees).\ 
### ***How to invest? How do I start?***
To begin trading, you will first need to [fund your account](https://primexbt.com/my/accounts/deposit)**.** There are 3 options to fund your account:
* [Direct Crypto deposits](/help-center/deposits-withdrawals/how-to-deposit.md#direct-crypto-deposits) from your personal Crypto wallets to your PrimeXBT wallets
* [Deposits in cash](/help-center/deposits-withdrawals/how-to-deposit.md#cash-fiat-deposits) from an online wallet or your bank card
* Deposits through our partner Baksta*,* which allows you to [purchase Crypto](/help-center/deposits-withdrawals/how-to-deposit.md#buying-crypto-via-bank-card) using a bank card
### ***How much money can I make?***
Your profits will depend on your patience, trading decisions and the success of your trading strategies.\
### ***Can you trade for me?***
If you do not have have the time or experience to trade or simply do not want to trade yourself, we highly recommend check out the [Covesting module](https://primexbt.com/my/covesting/rating). This feature allows you to automatically replicate and profit from the trades of successful traders without having to personally trade on the market.\
### ***Are there any fees when trading?***
Yes, there are 2 different fees that can be incurred when trading - Trade fee and Overnight financing. Detailed information regarding fees can be found here: [https://primexbt.com/fees\
](https://primexbt.com/fees)**Trade Fee** is incurred any time a position is opened or closed:
* 0.05% for Cryptocurrencies
* 0% for Forex, Indices, Commodities
**Overnight Financing** is incurred any time a position is carried into a new trading day, at 00:00 UTC. Positions closed before the start of a new trading day (00:00 UTC) will not be charged at all.\
### ***Where do you get your prices for currencies?***
PrimeXBT acts as an STP broker to ensure fast order execution and excellent liquidity for traders. As PrimeXBT is an STP broker, we receive quotes from a large pool (12) of liquidity providers and automatically arbitrage between them to offer the best currently available prices. Thus, the pricings for Cryptocurrencies provided on PrimeXBT will vary in accordance with the pricings across the exchanges from which liquidity is aggregated.\
\
CFD and FX feed come from a partner company (feed aggregator) which sources liquidity from multiple providers such as prime brokers, banks etc.\
### ***Do you have apps for iOS, Android, PC?***
Yes, feel free to download the [**iOS App**](https://apps.apple.com/app/primexbt-crypto-trading/id1522267195) or [**Android App**](https://play.google.com/store/apps/details?id=com.primexbt.trade). The web version of the platform is available on all browsers and does not require downloading any software.\
### ***Do you have a Referral program?***
Yes, our 4-level [Referral program](https://primexbt.com/my/referral) allows you to invite friends, family and others to try out the platform by sharing your personal referral link. You can receive payouts of up to 50% of trading fees (commissions) paid by your referrals. Make sure to review our special article about the Referral program [**here**](https://help.primexbt.com/rewards-and-promos/referral-program)**.**\
### *How can I earn without investing?*
If you are looking for ways to profit without investing and trading, and wish to become a partner of PrimeXBT, make sure to review our [Affiliate program](https://primexbt.partners/).\
\
The Affiliate program provides the ability to enjoy profit share of up to 50%, and up to $2500 per client. Each partner receives a tailored offer to fit their specific needs and goals. This is a great way to receive greater exposure to the market, grow your community and scale your profit opportunities. Make sure to review our special article about the Affiliate program [**here**](https://help.primexbt.com/rewards-and-promos/affiliate-program).\
### ***Can I create a demo account for paper trading?***
If you’d like to try PrimeXBT with a demo account, consider joining one of our trading [**Contests**](/help-center/contests/faq.md)**.**
Upon joining a contest, you will be provided with a **free pre-funded contest account**. You can use it as a demo account, and if you make it to the top of the leaderboard, you may even win a prize!\
### ***Can I connect via API?***
At the moment, an API interface is not available.\
### ***Can I use third-party tools for charting, e.g. TradingView?***
At the moment integration with third-party charting services is not available. We have developed a unique personal charting package which provides a large array of professional charting tools and instruments, which also allows us to update and improve it in accordance with the needs and wishes of traders.
Additionally, charting and technical analysis by TradingView are available in [Analysis](https://primexbt.com/my/analysis/chart) section.\
### ***What are the trading limits?***
Detailed information regarding the maximum order size and exposure limits for all available instruments can be found in our special [Trading Limits](/help-center/trading-with-primexbt/trading-limits.md) article.\
### ***Do I need to provide documents to start trading?***
If you are a resident of an [accepted jurisdiction,](/help-center/policies/restricted-jurisdictions.md) you can start using PrimeXBT services as soon as you register an account and deposit funds. Verification of the account will extend 24h withdrawal limit and open additional [rewards](/help-center/rewards-and-promos/rewards.md). Please note that PrimeXBT reserves the right to initiate KYC verification procedure in certain situations. Read more about [KYC policy](/help-center/policies/kyc-policy.md).
## **Depositing funds**
### ***How do I make a deposit?***
Go to your [Dashboard](https://primexbt.com/my/home/main), click 'deposit' for the currency that you want to deposit, select the required network if necessary, copy your PrimeXBT wallet address and paste it into the destination field on the site from which you are transferring funds.\
\
At the moment PrimeXBT supports BTC, ETH, USDT, USDC and COV deposits using the following networks:
* Bitcoin network for BTC deposits.
For ETH deposits are available:
* Ethereum network (ERC-20)
* BNB Smart Chain network (BSC)
For USDT, USDC and COV deposits are available:
* Ethereum network for ERC-20 tokens.
* BNB Smart Chain network (BSC) for BEP-20 tokens.
For USDT and USDC TRC-20 tokens the TRON network is also available.
Also, you access ’Buy Crypto’ option which allows you to buy supported cryptocurrency using a Bank Card / SEPA transfers and have it transferred to your PrimeXBT wallet.\
\
### ***Can I deposit Cash/Fiat to my PrimeXBT account?***
Yes, you can [deposit Cash](/help-center/deposits-withdrawals/how-to-deposit.md#cash-fiat-deposits):  **USD** directly to your Cash Wallets on PrimeXBT from your personal AdvCash account or via Perfect Money.
### ***Can I change account balance currency or exchange crypto?***
Yes, using the in-wallet exchange feature, you can exchange BTC, ETH, USDT and USDC amongst each other, directly in your PrimeXBT account.\
### ***Can I deposit via a bank card / bank transfer / gift card ?***
It is possible to use a third-party service such as *Coinify* (), which allows you to buy BTC, ETH, USDT and USDC using your bank card, SEPA bank transfer and have it transferred to your PrimeXBT wallet. Direct deposits from your bank card to PrimeXBT are currently not available.\
\
### ***How long does a deposit take?***
* BTC deposits require 3 block confirmations which usually takes around 40 minutes on average;
* ETH and ERC-20 tokens (COV, USDT, USDC) require 10 block confirmations which usually takes around 4 minutes.
* ETH and BEP-20 tokens (COV, USDT, USDC) require 10 block confirmations which usually takes around 1 minute.
* USDT and USDC TRC-20 tokens require 20 block confirmations which usually takes around 1 minute;
These timeframes will vary for different currencies as well as blockchain congestion. PrimeXBT does not charge any deposit fees. You can follow the status of your deposits in your [Transfer History](https://primexbt.com/my/home/report/transfer).\
\
**Cash/Fiat deposits** from your AdvCash and Perfect Money accounts to your PrimeXBT Wallets are instant.\
### ***What is the minimum deposit to start trading?***
You can deposit any amount that would be sufficient to provide the required margin for your trades.
E.g. the minimum order size for Bitcoin is 0.001 BTC, thus the minimum margin required to open such a trade with x200 leverage would be 0.000005 BTC.
For Cash deposits to the platform via Advcash and Perfect Money accounts the minimum deposit is 10 USD.\
### ***My deposit is ‘Completed’ but I do not see my funds***
To begin trading, you will need to move funds from your Wallet to your Trading Account by clicking the 'Transfer' button on the [Main](/help-center/home-interface/understanding-home-interface.md#main-home-section) page.\
\
Additionally you can deposit directly to your [Global Markets](/help-center/margin-interface/understanding-margin-account-interface.md#global-markets-interface) and [Crypto Futures](/help-center/crypto-futures-platform/understanding-crypto-futures-trade-interface.md) trading accounts by preselecting the destination upon your deposit to the platform.
Make sure to review our [detailed guide about deposits](/help-center/deposits-withdrawals/how-to-deposit.md#direct-crypto-deposits) to the platform.\ 
### ***I received a 'Welcome bonus' offer. How can I claim it?***
To claim this offer simply make a deposit and then make a transfer to the corresponding Trading account within the given time frame.
For a detailed tutorial see our quick and easy-to-understand[ Welcome bonus ](/help-center/rewards-and-promos/promo-codes.md#welcome-bonus)tutorial.
## **Withdrawing funds**
### ***What is the minimum and maximum amount for a withdrawal?***
There is no minimum or maximum required withdrawal amount. However, please note that it should be more than the withdrawal fee for the asset you wish to withdraw.\
### ***What is the withdrawal fee?***
The withdrawal fee is a flat fee (i.e. the fee will remain the same regardless of the amount being withdrawn).\
\
➡️ Crypto withdrawals:\
\
For BTC the withdrawal fee is 0.0005 BTC.
For ETH, USDT, USDC and COV withdrawals the fees vary depending on the network used.
> For ERC-20 network:
* 0.002 ETH
* 10 USDT
* 10 USDC
* 5 COV
> For BEP-20 network:
* 0.00007 ETH
* 0.8 USDT
* 0.8 USDC
* 2 COV
> For TRC-20 network:
* 0.8 USDT
* 0.5 USDC
➡️ Cash withdrawals:
For Advcash and Perfect Money withdrawals from the platform the withdrawal fee is 5 USD.\
\
### ***Are there any limits on withdrawals?***
Each account on the platform has a **24H withdrawal limit of $20000** or its equivalent in other currencies in total for all of your submitted withdrawals. The withdrawal limit can can be removed by [**verifying your account.**](/help-center/home-interface/account-verification.md)\
\
The current **24H withdrawal limit** of your account can be viewed on the '[Settings](https://primexbt.com/my/home/settings)' section of your account.
**Cash withdrawals by default imply a verified account.** Account verification is completed upon [Depositing Cash](https://primexbt.help/deposits-withdrawals/how-to-deposit#cash-fiat-deposits). Therefore the 24H withdrawal limit does not apply to [Cash Withdrawals](https://primexbt.help/deposits-withdrawals/how-to-withdraw-funds#cash-fiat-withdrawals).\
### ***How can I add my withdrawal address?***
A withdrawal address can be whitelisted by clicking the 'Withdraw' button for the asset you wish to withdraw, in your [Dashboard](https://primexbt.com/my/home/main). Enter the desired withdrawal address and confirm the address via an email confirmation link. See our short [whitelisting](/help-center/deposits-withdrawals/withdrawal-address-whitelisting.md) tutorial.\
### ***How fast is my withdrawal processed?***
All pending withdrawals are processed once a day, between 12:00 and 14:00 UTC. A withdrawal requested before 12:00 UTC will be processed on the same day. Any withdrawal requested after 12:00 UTC will be processed on the next day.\
### ***How can I check the status of my withdrawal? Can I Cancel my withdrawal?***
You can follow the status of your withdrawal on the '[Reports](https://primexbt.com/my/home/report/transfer)' page, under Transfer History.
A pending withdrawal can be cancelled at any time before 12:00 UTC.\
### ***Can I withdraw to my bank account?***
No, this is not possible at the moment. You can however use third-party services that will allow you to convert Crypto to other currencies, including Fiat, which may then be transferred to your bank.\
### ***I didn’t receive a withdrawal confirmation email***
Make sure to check all email folders such as Spam/Promotions/Notifications/Updates/etc.or search for a confirmation email from via inbox Search bar.\
\
If you are still unable to find the email, please whitelist in your email settings and request the withdrawal again.
## **Account and security**
### ***Why it is important to secure access to your email***
Your email is your primary form of ID. Losing access to your email may result in you being unable to access your PrimeXBT account. We strongly recommend enabling 2FA on your email account.\
### ***How can I secure my PrimeXBT account?***
We recommend using a unique Email+Password combination that you are not using for other services. Also, we highly recommend enabling 2FA (2-factor authentication) and login notifications. These features can be enabled in your account [Settings](https://primexbt.com/my/home/settings).\
### ***Can I change my email?***
As your email is the only form of ID at PrimeXBT, it is not possible to change account email.\
### ***How to disable email notifications?***
Email login notifications can be disabled from your account [Settings](https://primexbt.com/my/home/settings) menu.\
### ***I forgot my password. What do I do?***
You can reset your account password using the [Password recovery](https://primexbt.com/id/password-recovery) feature.\
### ***I lost or reset my 2FA device / phone. What do I do?***
When enabling 2FA on your account, you will receive a 16-digit backup code. This code can be used to restore 2FA time codes for your account. Simply add a new time-code generator in your 2FA app and enter the 16-digit backup code.\
### ***Where can I check my login history?***
All logins to your account are reflected in your [Settings](https://primexbt.com/my/home/settings) menu, under 'Last logins'.\
### ***Someone accessed my account but it was not me***
This means that someone may have obtained your account's credentials. This could happen if you shared your account credentials with someone else, or if your password had become compromised. In most cases, passwords are retrieved by hackers from earlier leaked password databases from different services.
To protect your account, please change your password at this link: and enable 2FA. Also, do not use the same password for your email and for other services, as this could compromise your account should someone get ahold of your credentials.\
### ***Can I see a detailed report of all trading activity on my account?***
Yes. This can be done by generating an Account Statement on the '[Reports](https://primexbt.com/my/home/report/trading)' page. To generate an account statement, select the required Margin trading account, enter the desired statement timeframe and click 'Statement'. It contains detailed information about your Trading account, including trades, fees, financing, and transfers that affect account's Balance.\
### ***How can I delete my PrimeXBT account?***
All account deletion/cancellation requests are processed by the PrimeXBT support team via [live chat](https://primexbt.com/my/accounts/main?open-livechat) or by email at .
### ***How to open PrimeXBT support live chat?***
Click on the menu icon in the top right corner of your account and click 'Chat' in the dropdown menu.\\
## **Trading**
### ***What are Long and Short positions?***
A Position can be either **Long** or **Short**.\
**Short-selling** is selling high and re-buying low. This strategy capitalizes on anticipated market decline.\
**Long-selling** is buying low and re-selling high. This strategy capitalizes on anticipated market rise.\
\
For detailed tutorials see our corresponding [Long](/help-center/leverage-trading/profit-from-market-growth-long-positions.md) and [Short](/help-center/leverage-trading/profit-from-market-decline-short-positions.md) trading\
### ***What is leverage?***
Leverage reflects the ratio of personal funds required to open and maintain a position in comparison to the size of that position. For example, 1:200 leverage means that, if using $1,000 of your personal funds, you will be able to trade with up to $200,000. Similarly, a position of $100 would require only $0.5 of your personal funds.\
### ***Can I change my leverage?***
The highest possible leverage is provided automatically upon opening a position, and you control it by choosing the position size.
For example: you have 0.01 BTC as Trading account's Equity and you wish to trade BTC/USD. You can open max position of 2 BTC. This will result in maximum margin utilization at 1:200 leverage and 0% of Available Margin will remain. But you are not required to open such a large position. You can, for example, open a 0.1 BTC position instead. In this case you will be using only 10x leverage against your 0.01 BTC Equity, with more Available Margin left and less risk of position liquidation should the market move unfavorably. Similarly, if you opened a 0.5 BTC position it would amount to 50x leverage against your Equity, and so on.
So you have full control of your leverage and risk by controlling position sizes in your portfolio.
Please note that we do not recommend to utilize 100% of Available margin as this creates a significant risk of even the smallest negative P/L resulting in liquidation of the position.\
### ***What is price spread?***
Price[ Spread](/help-center/trading-with-primexbt/order-types.md#bid-price-ask-price-and-spread) (or Bid-Ask spread) is the difference between the Bid and the Ask price of an asset. When buying, you will get the Ask price; when selling, you will get the Bid price. Ask price is generally higher than the Bid price, and the difference between these 2 factors is the Spread. Chart candles on PrimeXBT reflect the Bid price of an asset.\
### ***What is slippage?***
Slippage is the difference between the expected price, and the actual execution price of a market order. As with any market order, Slippage may occur during times of high volatility, when liquidity in order books is insufficient to execute trades at the trigger price (Bid/Ask), resulting in a price gap.\
### ***How long can I keep a position open?***
Positions do not have a time limit and can remain open indefinitely, as long as available margin does not drop to 0%. Note that an overnight financing fee is charged at 00:00 UTC if a position is carried into a new trading day.\
### ***Why is my order rejected?***
Orders can be rejected for numerous reasons, such as available margin being insufficient or markets for the selected instrument being closed, etc. The ‘Messages’ widget contains all system messages with a detailed explanation of why an order was rejected.\
### ***Can I use Stop Loss/Take Profit?***
Yes. Stop Loss and Take Profit protective orders can be added to a Limit, Market or Stop order as well as any open position. Make sure to check out our Stop Loss and Take Profit [**video tutorial**](https://www.youtube.com/watch?v=UfRyzHkO3VY)**.**\
### *My Stop Loss/Stop Buy order was executed even though the price on the chart never went that high. Why?*
PrimeXBT charts reflect **top-of-the-book BID quotes** received from our liquidity providers (not FILL prices). It is important to remember that **Stop Loss/Stop Buy orders are triggered when top-of-the-book ASK quotes reach the price specified in your Stop Loss/Stop Buy order. ASK quotes are higher than BID quotes by the amount of the Spread**.
Top-of-the-book ASK quotes are reflected as a green indicator on the price range field of the chart. In this case, if your SL/Stop Buy order was executed, this means that the ASK price of the asset has reached the price specified in your order.\ 
### *My Take Profit/Limit Buy order was **NOT** executed even though the price on the chart dropped and reached it? Why?*
PrimeXBT charts reflect **top-of-the-book BID quotes** received from our liquidity providers (not FILL prices). It is important to remember that **Take Profit/Limit Buy orders are triggered when top-of-the-book ASK quotes reach the price specified in your TP/Limit Buy order. ASK quotes are higher than BID quotes by the amount of the Spread**.
Top-of-the-book ASK quotes are reflected as a green indicator on the price range field of the chart. In this case, if your TP/Limit buy order was NOT executed, this means that the ASK price of the asset has NOT reached the price specified in your order.\
### *Why was my Stop Loss order filled at a different price?*
Stop Loss protection orders are delayed orders that are triggered when the ASK/BID price of an asset reaches the price specified in your Stop Loss order. Once your Stop Loss is triggered, it becomes a Market order and is filled as such, taking into account the Spread for a given order size. The current Spread for a particular order size can be checked at any time using the 'Dashboard' widget.\
### ***What is liquidation?***
Liquidation is the automatic closing of all currently open positions at market price, if margin requirements are not maintained. Liquidation may occur if available margin reaches 0%, as available margin is no longer sufficient to sustain further losses.\
### ***How can I increase my Available Margin?***
Available margin can be increased at any time by closing any position and/or transferring more funds to your Trading account.\
### ***Which margin system is available, Cross-margin or Isolated margin?***
At PrimeXBT we employ both Cross-margin and Isolated-margin systems. We provide our users with maximum flexibility by allowing traders to choose the preferred margin system which opens more opportunities to adapt to different market trends and movements.\
\
[Global Markets](/help-center/margin-interface/understanding-margin-account-interface.md) (Margin) trading accounts provide only Cross-margin system, while [Crypto Futures](/help-center/crypto-futures-platform/understanding-crypto-futures-trade-interface.md) trading accounts provide both Cross and Isolated margin types.\
### ***Does Unrealized P/L include fees incurred for a trade?***
No, Unrealized P/L does not include any fees incurred from trades.\
### ***What are the fees?***
**Trade Fees** are as follows:
* 0.05% for Cryptocurrencies
* 0% for Forex, Indices and Commodities
**Overnight Financing** is the borrowing cost for using PrimeXBT assets for leveraged trades and is charged at 00:00 UTC for any position that is carried into a new Trading day. Any position closed before 00:00 UTC will not be subject to overnight financing.
{% hint style="warning" %}
Overnight financing is not charged on weekends for markets that are closed during this time, however a triple financing rate is due on Thursday 00:00 UTC.
{% endhint %}
Detailed information regarding Fees and Overnight Financing rates for all available instruments can be found on the [**Fees and Conditions**](https://primexbt.com/fees) page.\
### ***What is a Trading day?***
A Trading day is a 24-hour period which begins at 00:00 UTC and ends at 23:59:59 UTC. A Trading day is used to determine when Overnight Financing is charged and when a DAY order is cancelled if not filled.\
### *I received an error when placing an order/position. How can I find the reason of the error?*
If you received an error when placing an order or a position make sure to check the [Trade activity log](/help-center/margin-trading/how-to-place-a-trade.md#trade-activity-log-messages-widget) for possible reasons. If the issue still persists, contact the Support team via live chat or by email at
---
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