Explore The New Financial Instruments Added to PrimeXBT
This week, we added new financial instruments to our trading platform, expanding beyond digital assets. PrimeXBT is proud to now offer the trading community the widest variety of asset types on any platform, by introducing forex, commodities, and some of the world’s most popular indices alongside the crypto assets you’re already familiar with.
To better familiarize you with our new offering and what opportunities they provide, we’ve put together this informational guide.
Forex
Forex is short for the foreign exchange market — a global market for the trading of currencies such as USD, EUR, JPY, and more. The Forex marketing represents a massive opportunity for traders to drive profits, with more than $5 trillion in trading volume on average each day. Forex markets trade 25 times the daily volume of the global equities market, and nearly 100 times that of the crypto market.
PrimeXBT has introduced seven of the world’s most widely traded foreign exchange currencies, for a total of 18 trading pairs. Unlike the crypto market, the forex market is low volatility, making PrimeXBT’s up to 1000x leverage the key to unlocking massive profits. Most other brokers don’t come close to the opportunity we provide to traders.
Forex provides traders yet another way to diversify their portfolios with assets that are completely uncorrelated to the crypto market. With most cryptocurrencies, they trend down when Bitcoin is declining. Therefore, it would be wise for crypto investors to diversify their asset portfolio with forex, or one of our other new financial instruments. Forex has a low correlation to most other assets, making it an ideal choice for risk averse traders seeking to expand their avenues for profit.
PrimeXBT now offers our clients the following Forex currencies for trading with up to 1000x leverage:
USD — United States Dollar — The United States dollar is the official currency of the United States and its territories. USD is one half of the most popular currency pair alongside EUR by trading volume in the entire world, followed next by the USD/JPY pair. Due to the United States economic impact and global policy, the US dollar represents 85% of all forex trading volume.
Available trading pairs: AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/JPY, USD/CHF
EUR — Euro — The Euro is the official currency of 19 of the 28 member states of the European Union. The Euro is the second highest traded currency by volume, representing 40% of the forex market. Because of the impact that the Euro has on monetary policy in the region, the currency has shown significant volatility in the past.
Available trading pairs: EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD
AUD — Australian Dollar — The Australian dollar is the currency of Australia, and of three independent Pacific Island states, specifically Kiribati, Nauru, and Tuvalu. Despite being a smaller country, Australia ranked number 13 in GDP, suggesting its economic impact on the global financial market is significant. Today, AUD is among the top forex currencies by trading volume, and is considered to be uncommonly counter-cyclical and volatile among the forex currencies.
Available trading pairs: AUD/USD, AUD/CHF, AUD/JPY, AUD/USD, EUR/AUD, GBP/AUD,
GBP — Pound Sterling- The pound sterling, commonly known as the pound and less commonly referred to as sterling, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha. The British pound sterling is one of the most economically and financially important currencies across the globe, and is the fourth-most traded currency. It was once the world’s most used currency, but the US dollar has since taken the reigns following World War II. Because the UK is the sixth largest economy in the world, the impact of GBP remains significant even today.
Available trading pairs: GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/USD, EUR/GBP
CHF — Swiss franc- The franc is the currency and legal tender of Switzerland and Liechtenstein. The Swiss franc is considered one of the safest investments in the forex market, due to its low risk and protection from inflation. Switzerland, being a small country with a lower population, is better able to manage its economic growth rate and its supply of natural resources. These attributes have been key to stable, organic growth across the currency. Switzerland also has no deficit, so its currency is typically stable.
Available trading pairs: AUD/CHF, EUR/CHF, GBP/CHF, USD/CHF
JPY — Japanese Yen- The Yen is the official currency of Japan. The Japanese Yen accounts for 20% of the trading volume across the forex market, placing it in third behind USD and EUR. Despite its relatively small size, Japan is one of the world’s largest economies due to its thriving business and technology sector. It is also one of the world’s largest exporters of goods. Due to Japan’s influence on the world economy, JPY is among one of the best trading opportunities across the forex market.
Available trading pairs: AUD/JPY, EUR/JPY, GBP/JPY, USD/JPY
PrimeXBT also offers spot contracts on Gold and Silver, including:
XAG/USD — Spot Silver USD- The spot silver price refers to the price of silver for immediate delivery. Like all precious metals, price fluctuates with supply and demand, however, other economic impacts can have an effect on spot silver price, including the value of the US dollar, interest rates, jewelry demand, and wealth protection during times of economic downturn.
XAU/USD — Spot Gold USD — The spot price of gold is an important benchmark for the gold bullion industry. Like all precious metals, price fluctuates with supply and demand, however, other economic impacts can have an effect on spot gold price, including the value of the US dollar, interest rates, jewelry demand, and wealth protection during times of economic downturn. Gold is often viewed as a safe haven during times of global economic distress. It is also the first widely used currency across the globe, however, it is rarely uses as such today.
Commodities
In addition to Forex currencies, PrimeXBT has also introduced Commodities to the platform.
The commodities market represents trading resources that are vital to everyday life, such as food, energy, or precious metals, as they can have an effect on the overall health of the global economy.
Commodities are also uncorrelated to crypto assets, making them an ideal diversification choice for investors and traders alike. These volatile assets provide a unique opportunity for traders to profit off the ebb and flow of global supply and demand of these vital resources.
PrimeXBT now offers spot contracts for the following commodities trading pairs on our platform with up to 100x leverage:
XBR/USD — UK Brent Oil — Brent is the leading global price benchmark for Atlantic basin crude oils. It is used to price two thirds of the world’s internationally traded crude oil supplies. Brent oil is the standard benchmark for oil prices, dominated most of the global supply and trade. It is produced near the sea, making transportation costs lower which can be oftentimes reflected in the price.
XTI/USD — US Crude Oil- West Texas Intermediate crude oil, or WTI, which is a light ‘sweet’ oil traded in Cushing, Oklahoma — the sweetness referring to the oil’s low Sulphur content. It is often referred to as US Oil as it is heavily influenced by North American developments. US Crude oil from WTI is produced in-land, which increases transportation costs. However, in recent years US Crude oil has become cheaper than Brent oil.
XNG/USD — US Natural Gas- Consisting mostly of methane, natural gas is found alongside coal beds and other fossil fuel deposits throughout the world. Due to the world’s reliable on natural gas, particularly in the United States, supply and demand can have drastic effects on the price of natural gas, making it an ideal instrument for swing traders.
Indices
Finally, PrimeXBT also has introduced CFD (contract for difference) contracts on many of the world’s most popular indices. Indices is the latin plural word for index, when used in a statistical context. Each stock market index represents a measurement of a specific section of the stock market across each nation.
The indices featured on PrimeXBT offer global traders exposure to some of the world’s most prominent stock markets, and create yet another avenue for profit and portfolio diversification. By gaining access to these thriving market indices, traders can take advantage of the highly volatile nature of each index, as they correlate back to each nation’s economy, with a low correlation to other asset classes, including forex and crypto.
PrimeXBT offers the following indices for trading on up to 100x leverage:
GER30 — Germany 30 — GER30 represents a German index consisting of the 30 largest companies that are currently listed on the Frankfurt Stock Exchange.
SPX — US SPX500 — The S&P 500, or just the S&P, is an American stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE, NASDAQ, or the Cboe BZX Exchange.
NDX — US Tech 100- The US Tech 100 is a financial instrument that is based on the performance of the NASDAQ 100 Future Index.
HSI — Hong Kong 50 — Hang Seng China 50 Index is a pan-China stock market index to represent the top 50 China-based companies in the stock exchanges of Hong Kong, Shanghai and Shenzhen
AUS 200 — Australia 200- The AUS 200 is based on the underlying instrument ASX SPI 200 Future — a market-capitalization weighted and float-adjusted stock market index of stocks listed on the Australian Securities Exchange.
J225 — Japan 225- The Japan 225, more commonly called the Nikkei 225 Stock Average, is a stock market index for the Tokyo Stock Exchange.
UK100 — UK 100 — The UK Financial Times Stock Exchange 100, more commonly known as the FTSE 100 or ‘Footsie’, is an index of share prices of the largest 100 companies listed on the London Stock Exchange.
What These Assets Bring to the Global Trading Community
Together, these assets represent the largest offering on any trading platform. But they also represent a unique opportunity for traders to diversify their portfolios beyond the assets they are already familiar with, to discover new opportunities to drive income and profit, and explore the rest of the world’s global markets. These latest additions bring the total assets available on the PrimeXBT platform to over 30.
PrimeXBT’s trading engine is designed for ultra-fast order execution even under extreme loads, and we offer industry-best leverage up to 1000x across each instrument, and the tightest spreads — on average just 0,7 pips on EUR/USD, for example. With no minimum deposits and the ability to open positions from $100 to $10 million with one account, PrimeXBT caters to traders of all type — professional and beginners alike. We also offer extensive trading documentation so all traders can enjoy the most reliable trading software on the market, regardless of experience level.
For the first time, forex, commodities, and traders of the world’s most popular indices can enjoy all of the unique features PrimeXBT has offered to the community since the start of the year, such as full anonymity, leverage, a highly-customizable interface, a multi-level security system with compulsory withdrawal address whitelisting, 24/7 customer support, and advanced charting tools.
We are proud to offer these new instruments to our clients and invite you all to try exploring these other exciting asset classes. Start trading these exciting new assets today on PrimeXBT!
