Day Trader Life Hacks: How To Get 50% Off Trading Fees on PrimeXBT
Trading is solely
about growing profit margins, so traders are always keenly aware of the fees
broker’s charge that eat into their bottom lines. It’s not uncommon for traders
to even select the platform they used based on the fee structure being fair
enough to fit their goals.
PrimeXBT offers some of the lowest fees on the market,
but recently also debuted a new, progressive discount system for trading fees
that has raised the bar even higher across the finance industry. The new system
rewards the most active traders with a tiered discount system, with each level
providing an opportunity for an increasingly deeper discount off trading fees
across all assets offered by the trading platform.
At each level of
discount, trading becomes a lot cheaper due to less fees chipping away at
profits, allowing traders using the platform to grow their capital that much
more quickly. And reaching each new level is simple.
At a level of just 300
BTC in trading turnover to 600 BTC turnover, users of the platform will receive
25% off trading fees, while anyone with over 600 BTC turnover is privy to a
massive 50% off trading fees.
All of the platform’s
users can monitor their progress toward each of these levels.
Those that aren’t
actively working toward achieving the highest level of discount are missing out
on the greatest potential profit margins, and aren’t getting the most out of
the cutting-edge trading platform.
However, there are a
number of ways a trader can speed up the process and achieve the best discount
possible in the shortest amount of time. Check out the following day trader
life hacks designed to hastily reach the highest level of discount possible.
Advantage of Advanced Order Types
Did you know that
PrimeXBT offers OCO orders, also called ‘one cancels the other’ orders? These
orders combine a limit and a stop order and are designed to trigger at a
specified amount, canceling one order and opening a new order.
For example, a trader
can buy a breakout with a long order as an OCO order, with a stop set at
resistance that once it is reached, becomes a short order that can be held back
down to support. This allows traders to never leave any profits on the table,
and by increasing the order frequency, contributes to growing their rate toward
the progressive fee discount.
Positions To Maximize ROI
Every trader has
experienced this. You’ve nailed a winning entry, and it looks like this could
be the home run trade you’ve been dreaming of. Except things look like they may
be reversing, according to indicators and that common feeling in the pit of
your stomach. Rather than risk letting profits evaporate if price goes the
other way, or closing before you are ready to throw in the towel, traders can
open up a hedge position.
On PrimeXBT, traders
can hold both a long and a short position simultaneously, allowing traders to
regularly build hedge positions to minimize risk and maximize profit potential.
This increase in trading frequency also speeds up the progress toward the
trading fee discount.
Profits For Greater Gains
While it’s never a bad
idea to take profits and cash them out, by letting profits stack, capital will
compound and trade size can be increased over time. This leads to not only much
larger position sizes, but greater profit potential, and a much faster rate of
reaching the highest tier of progressive discounts.
PrimeXBT also offers
up to 1000x leverage, letting traders gear their capital and further compound
profits for the fastest tr ack toward a massive ROI.
With Traditional Markets
Many of PrimeXBT’s
traders got their start on the platform due to margin trading cryptocurrencies,
but since the platform also offers forex, commodities, stock indices, and
precious metals gold and silver, there is a variety of assets for traders to
turn a profit on.
By experimenting with
traditional markets traders can not only find new ways to profit, but they can
develop new skills and strategies, and of course, increase the speed at which
they’ll reach PrimeXBT’s progressive discount levels.
Strong Portfolio of Assets
After traders become
comfortable trading a variety of markets, they can then begin to build a
portfolio of correlated, anti-correlated, and uncorrelated assets for the
greatest risk management and profit potential.
The more positions
held and taken across these various markets, the faster the growth toward the
25% and 50% discount levels.
on the Go With Smartphone App
PrimeXBT is reachable at your fingertips at any given
time, so long as you have access to a smartphone and internet connection.
Through the official
iOS and Android smartphone apps, traders can stay connected to PrimeXBT
wherever they are, and never miss a moment of trading.
Set a Goal
and Stick To It
By setting a goal and
sticking with it, traders can actively prepare mentally and financially for how
active they need to be in order to achieve each level of trading discount.
While it may seem like
a lot of effort to trade your way up to a discount, once these levels are
reached the trading fees are discounted so heavily, far more profits make it
back to your bottom line, allowing you to grow your capital much more quickly
Conclusion: Why Working For The Discount Is
Low fees and discounts
– while great – aren’t the only reasons traders prefer PrimeXBT. The platform
offers built-in charting software so traders don’t need to leave the platform
to conduct detailed technical analysis, and ensure their entries and exits are
The platform also
offers up to 1000x leverage using advanced order types on a variety of
traditional and digital assets, including stock indices, forex, commodities,
Bitcoin, altcoins, and much more. And a lucrative referral program can help to
further bolster profit margins.
With 25% and 50% off
trading fees, anyone can see why it is worth the extra effort to put in some
extra time trading in order to reach these significant savings. By earning a
discount off each trade, more profit goes back into your pockets and helps you
to become the most successful trader possible.
If you find yourself
falling short of reaching the trading fee discount on PrimeXBT each month, give
these day trader life hacks a try and see for yourself how fast you achieve up
to 50% off trading fees.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.