With the help of tradingcritique.com, you can make informed choices about when, where, and how to invest. Our comprehensive PrimeXBT review covers the platform, features, and trading strategies, giving you all the information you need to invest wisely.
PrimeXBT is a top cryptocurrency trading platform in the field of margin trading. PrimeXBT is a bitcoin-based forex and CFD brokerage firm registered in Saint Vincent and the Grenadines and Seychelles. Trading leverage of up to 1:1000 is available on PrimeXBT’s most liquid assets.
With an average daily trading volume of around $540 million, the broker is a worldwide brand serving Customers across over 150 countries and employs more than 75 individuals across three offices.
Table 1: PrimeXBT Overview
| PrimeXBT Highlights | |
|---|---|
| Regulated By | NONE |
| Account Types | PrimeXBT account |
| Demo account | NO |
| Minimum deposit | 0.001 BTC |
| Maximum Leverage | 1:1000 |
| Deposit and Withdrawal Method | Cryptocurrency |
| Trading Platforms | Own proprietary platformTurbo platform |
| Customer Support | 24/7 |
| Fees | Details |
| Trading fee | YES |
| Overnight financing fee | YES |
| Deposit fee | NO |
| Withdrawal fee | YES |
| Market Instruments | Details |
| Forex CFD | YES |
| Shares CFD | NO |
| Indices CFD | YES |
| Commodities CFD | YES |
| Cryptocurrencies CFD | YES |
Knowledge Bites
PrimeXBT is a cryptocurrency, forex, and commodities broker that offers clients leveraged trading. It provides up to x1000 leverage, allowing you to profit both from rising & falling markets. It offers its clients top-tier liquidity as well as a huge variety of trading tools. For traders who require extremely consistent market data and performance, PrimeXBT provides a comprehensive trading system, suitable for both beginners and seasoned traders. All trades on the PrimeXBT trading platform are executed in one of its Frankfurt or London-based Amazon AWS servers.
PrimeXBT Review- An Intro
PrimeXBT, which was founded in 2018, has grown quickly to position among the most well-known exchanges for cryptocurrency derivatives. One of the few Bitcoin-based exchanges that offer CFDs for trading with high leverage is this revolutionary exchange platform.
Regulations and Trust ability Review of PrimeXBT broker
PrimeXBT is not regulated or authorized right now. Customers use this platform at their own risk and are free to do so.
Table 2: Regulations and Trust ability of PrimeXBT
| Company name | Headquarters | Year Founded | Regulation | Registered address |
|---|---|---|---|---|
| PrimeXBT Trading Services LLC | St. Vincent & Grenadines | 2018 | Not regulated | 1st floor,1st St. Vincent Bank Limited Building,James Street, Kingstown,St. Vincent & Grenadines |
Security Review of PrimeXBT broker
PrimeXBT has a proven record of industry-leading security owing to servers hosted on Amazon Web Services. PrimeXBT also conducts continuous IT security assessments to detect significant threats. A multi-layered cyber security framework, 2FA authentication, SSL encryption, and Cold storage are among the best security measures implemented by the exchange platform.
Review on Accepted and Forbidden countries of PrimeXBT broker
Customers can access PrimeXBT’s services anywhere in the world, except countries that include the United States of America, the Russian Federation, United States Minor Outlying Islands, Israel, Algeria, North Korea, Iran, Japan, American Samoa, Canada, Syria, Ecuador, and France.
Market Assets and Products Review of PrimeXBT
PrimeXBT provides over 50 currency pairs, 11 main stock indexes, energies, and a decent selection of Cryptocurrencies.
- Forex
- Cryptocurrencies
- Indices
- Commodities
Forex
You can trade long or short on 25 major Forex indices with the leverage of 100X.
Table 3: Forex in PrimeXBT
| Forex | |
|---|---|
| USD/TRYUSD/SGDUSD/RUBUSD/CHFUSD/CADAUD/USDNZD/SGDNZD/JPYNZD/CHFNZD/CADGBP/USDGBP/SGDGBP/NZDGBP/JPYGBP/CHFGBP/CADGBP/AUD | AUD/JPYEUR/USDEUR/SGDEUR/NZDEUR/JPYEUR/GBPEUR/CHFCAD/CHFAUD/CHFAUD/CADUSD/JPYNZD/USDEUR/CADEUR/AUDCHF/JPYCAD/JPYAUD/NZD |
Cryptocurrencies
With 100x leverage, you can trade XRP, LTC, BTC, ETH, and EOS.
Table 4: Most Traded Assets of Olymp Trade
| Cryptocurrencies |
|---|
| BTC/USD |
| ETH/USD |
| EOS/USD |
| LTC/USD |
| XRP/USD |
| ETH/BTC |
| LTC/BTC |
| EOS/BTC |
| XRP/BTC |
Indices
You have access to the most well-known indices, including the FTSE 100, JAPAN, and S&P 500.
Table 5: Most traded Indices in PrimeXBT
| Indices |
|---|
| UK100 |
| JAPAN |
| AUS200 |
| HK-HSI |
| NASDAQ |
| SPAIN |
| SP500 |
| GER30 |
| FRANCE |
| EUR50 |
| DOWJ |
Commodities
You can earn profits by guessing on the rise and fall of the prices of popular commodities like gold and oil.
Table 6: Most traded Commodities in PrimeXBT
| Commodities |
|---|
| SILVER |
| GOLD |
| NAT.GAS |
| CRUDE |
| BRENT |
Trading platforms Review of PrimeXBT broker
PrimeXBT offers its customized trading platform and Turbo platform to its clients. All browsers can access the platform’s web version, which doesn’t need to download any software.
PrimeXBT Platform
PrimeXBT offers its own customized browser-based trading platform that doesn’t need to be downloaded or installed. Even though you can trade as many assets on the proprietary platform, it has greater functionality for traders with technical expertise. PrimeXBT platform is available on both mobile and desktop versions.
Turbo Platform
The latest feature of PrimeXBT, Turbo, allows users to place bets and forecast price movements of various assets with the potential to win up to 90% of correct predictions. The pledged amount is lost when incorrect predictions are made. Each asset has a specific time frame during which your prediction can last. The fixed periods for crypto are 5m, 10m, and 15m. For major currencies like the EUR/USD, it’s 1m, 5m, and 30 seconds. PrimeXBT Turbo presently offers 12 tradeable assets, including FX and cryptocurrency.
Mobile Trading Review of PrimeXBT broker
PrimeXBT mobile app is supported on both Android and iOS devices and has simple functionality and high security. The app makes it simple to register for an account and sign up. Due to simple access to their portfolio from their smartphone, more traders prefer to trade using a mobile app.
Covesting Review of PrimeXBT broker
The goal behind covesting is for traders to share ideas and techniques that assist other traders in the platform’s community. The trades of experienced traders can be copied by new traders, and experienced traders may be paid according to the success of their tactics. This enables professional traders on PrimeXBT to earn passive income from other traders who copy their deals.
Review Account Types of PrimeXBT broker
All the broker services are offered through a single account. Opening an account with PrimeXBT requires a 0.001 BTC minimum deposit.
Demo account Review of PrimeXBT broker
PrimeXBT does not provide a demo account for practicing trading strategies and becoming familiar with platforms.
Leverage Trading Review of PrimeXBT broker
Using PrimeXBT’s leverage trading platform, you may open greater positions and make more money from your trades. While trading on PrimeXBT, you have access to leverage of up to 100 times for cryptocurrency trades and up to 1000 times for equities and commodities. Before implementing your strategies using real money, PrimeXBT provides a platform where you may practice leverage trades with fake money.
Table 7: Assets and their leverage in PrimeXBT
| Assets | Leverage |
|---|---|
| Forex | Up to 1:1000 |
| Cryptocurrencies | Up to 1:100 for altcoinsUp to 1:200 for BTC and ETH |
| Indices | Up to 1:100 |
| Commodities | Up to 1:100 |
Review on Fees and Commissions of PrimeXBT
The platform charges two types of fees: a trading fee and an overnight financing fee for leveraged trading. The trading fee is applied whether a position is kept open or closed. Leveraged positions that remain open overnight are subject to the overnight financing fee. Depending on the type of trade, the overnight fee is a percentage of the open trade and ranges from 0.00277% to 0.1389%. Uncharged positions are those that are closed before the start of a new trading day (00:00 UTC).
Table 8: Assets and trading fees in PrimeXBT
| Assets | Trading fee |
|---|---|
| Cryptocurrency | 0.05% |
| Indices | 0.01% |
| Commodities | 0.01% |
| Forex | 0.01% |
Review on Deposit fees and methods of PrimeXB
This platform does not enable credit or debit card deposits or direct bank transfers. To deposit money, you must use a cryptocurrency that PrimeXBT supports. Otherwise, there exists a widget in the deposit section that allows you to buy Bitcoin with a debit or credit card, however, this charges a fee of little more than 10%. PrimeXBT has five different wallets built inside the exchange. Each wallet is set up to hold one of the following cryptocurrencies: BTC, ETH, USDT, USDC, and COV. There are no deposit costs.
Review on Withdrawal fees and methods of PrimeXBT
PrimeXBT accepts withdrawals using cryptocurrency wallets. The withdrawal charge will be 0.0005 BTC, which is the minimum fee for covering the cost of a Bitcoin transaction.
Bonuses and promotions Review of PrimeXBT
PrimeXBT offers a welcome bonus for users who sign up. You are rewarded for both your direct referrals to PrimeXBT and their referrals. Affiliate partners are rewarded with up to 50% of the trading commissions that their referrals pay. You can participate in trading contests, where you will receive a free contest account that is pre-funded. You can use it as a demo account, and if you place first on the leaderboard, you might even receive a reward. PrimeXBT promotional coupons are also available. Promo codes may provide discounts on trade costs, overnight financing, or a deposit bonus.
Rewards & Risk Review of PrimeXBT
PrimeXBT has both advantages and disadvantages, which are listed in table 9.
Table 9 : Pros and Cons of the PrimeXBT website
 Pros |  Cons |
|---|---|
| – The minimal deposit for PrimeXBT is 0.001 BTC. – Both traditional assets and cryptocurrency can be traded on margin. – It offers 100x leverage with a maximum: 1:100. – The user is not required to go through KYC requirements during the quick sign-up process. | – Only a limited number of cryptocurrencies are accepted. – Fewer withdrawal and deposit options are offered. – There is no demo account available. |
Customer support Review of PrimeXBT
The help center of PrimeXBT has a FAQ section with more than 50 questions divided into 5 categories. Also, there is a lot of information in this help center on subjects including security, trading conditions, leveraged trading, and deposits & withdrawals. A live chat option that is available 24/7 in 16 languages is provided by PrimeXBT but it currently lacks a customer support hotline.
Table 10 : customer support service details in PrimeXBT
| Social Media Pages of PrimeXBT | |
|---|---|
| Telegram | https://t.me/primeXBT |
| https://twitter.com/primeXBT | |
| support@help.primeXBT.com | |
| https://www.reddit.com/r/PrimeXBT/ | |
| http://facebook.com/primeXBT | |
 Discord | https://discord.com/invite/yEr8p72pxu |
| Youtube | https://www.youtube.com/channel/UCzH0C03Gy8uHyKr-Y59cwJg |
Education and Research Review of PrimeXBT broker
Trading strategies, Markets, order types, and how to make the most of trading platforms are all explained in the education area. A collection of tutorial videos and visual guides are added to this. The PrimeXBT website also features a cryptocurrency and forex blog with information on more sophisticated trading techniques and recent economic news. If you want to learn about trading, Bitcoin, and blockchain from professionals, the PrimeXBT Trading Academy is the place to go.
Trading hours
The trading hours in the PrimeXBT is a twenty-four-hour period that runs from 0:00 UTC to 23:59:59 UTC. When Overnight Financing is applied and when a Day order is terminated if it is not filled are both determined by the Trading day.
In a Nutshell
- PrimeXBT stands out from the competitors with its affordable commissions, close spreads, and industry-leading leverage of 1:1000.
- The trading software is also simple to use.
- In addition to providing margin trading, it also includes a cutting-edge “Covesting” tool that enables you to watch and imitate the trading actions of the website’s top investors.
- Using its “turbo” trading feature, you can also predict short-term price fluctuations.
- For users of its platform, PrimeXBT works to offer the best possible level of security.
- It claims that it has a robust, multi-layered cyber security framework.
Explore a thorough evaluation of brokers worldwide by visiting tradingcritique.com. Find trading tips and answers to all your investment queries on our website.
Frequently Asked Questions
1. What is the PrimeXBT minimum deposit amount?
PrimeXBT accounts require a minimum deposit of 0.001 BTC, and no other currencies are allowed to fund the account.
2. Can I make a withdrawal to my bank account?
No, it is not possible. However, you can use third-party services to convert cryptocurrency into fiat, which can then be deposited to your bank.
3. Is PrimeXBT Legit?
It is a self-regulatory platform that offers its users privacy and high-security systems.
4. What is the leverage of PrimeXBT?
Up to 1000x leverage is available with PrimeXBT.
5. Does trading have any costs?
Yes, there are two different costs associated with trading: the trade fee and overnight financing.
