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.
Take 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.
Open Hedge 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.
Compound 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 track toward a massive ROI.
Experiment 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.
Build a 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.
Trade While 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 and efficiently.
Conclusion: Why Working For The Discount Is Worth It
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 properly planned.
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.