PrimeXBT Review – Is Your Money Safe on This Platform?

PrimeXBT, founded in 2018, has quickly established itself as a prominent online trading platform, offering a variety of financial instruments, including cryptocurrencies, forex, commodities, and indices.

The platform is known for its advanced trading tools, competitive fees, and user-friendly interface, attracting over 1 million users from 150+ countries.

In this review, we will provide a detailed analysis of PrimeXBT’s core products: crypto futures, CFDs (Contracts for Difference), and copy trading.

This review aims to provide a neutral and unbiased perspective on the platform, focusing on the features, fees, and overall trading experience.

What is PrimeXBT?

PrimeXBT is an online trading platform that enables users to trade a wide range of financial markets using leverage. The platform was established in 2018 and has since grown rapidly, becoming a preferred choice for traders worldwide.

PrimeXBT’s mission is to be a global leader in online trading, offering cutting-edge technology and a seamless user experience.

The platform emphasizes innovation, client empowerment, transparency, and a client-focused approach, ensuring that traders have access to the best tools and resources to succeed in the financial markets.

» REGISTER NOW FOR BONUS  «

PrimeXBT has created an exclusive offer for our readers. By using the promo code "cryptoro20" you can receive a 20% bonus on your deposit, with a maximum bonus of $7,000. This bonus is fully tradable, allowing you to make the most out of your trading experience on the platform.

PrimeXBT Products

Crypto Futures Trading on PrimeXBT

Crypto futures trading is one of the most popular products offered by PrimeXBT. Futures contracts allow traders to speculate on the future price movements of cryptocurrencies without actually owning the underlying assets.

This type of trading is particularly appealing to those looking to profit from both rising and falling markets. PrimeXBT’s crypto futures platform provides access to several key features, including adjustable leverage, deep liquidity, and advanced trading tools.

Available Cryptocurrencies

PrimeXBT offers futures contracts on a variety of popular cryptocurrencies. The primary assets available for futures trading include:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)

The platform may expand its offerings in the future, potentially adding more cryptocurrencies to its futures trading roster.

Fees

PrimeXBT offers a competitive and straightforward fee structure for crypto futures trading:

• Maker Fee: 0.01%
  This fee applies when you add liquidity to the market by placing limit orders that are not immediately filled. For example:
  1. ETH/USDT is trading at 3900.
  2. You place a limit order to buy at 3800, thereby providing additional liquidity.
  3. The market reaches your limit order, and it gets executed.
  4. You will pay a 0.01% fee on the trade.
• Taker Fee: 0.02%
  This fee applies when you remove liquidity from the market by placing orders that are immediately executed. For example:
  1. BTC/USDT is trading at 69k.
  2. You place a market order to buy BTC/USDT.
  3. The order is executed instantly at 69k.
  4. You will pay a 0.02% fee on the trade.

These low fees are beneficial for both casual traders and high-frequency traders, allowing them to minimize trading costs.

Leverage

One of the key features of PrimeXBT’s crypto futures trading platform is the ability to trade with leverage. Leverage allows traders to open larger positions with a smaller initial investment.

On PrimeXBT, traders can choose their desired level of leverage, up to a maximum of 100x. While leverage can significantly amplify potential profits, it also increases the risk of substantial losses, making it crucial for traders to employ effective risk management strategies.

Why Trade Crypto Futures with PrimeXBT?

PrimeXBT offers several advantages for traders interested in crypto futures:

• Deep Liquidity: The platform partners with top liquidity providers, ensuring that traders can execute large orders with minimal slippage, even in volatile market conditions.
• Adjustable Leverage: Traders have the flexibility to select their preferred leverage level, allowing for more tailored risk management.
• Isolated Margin: PrimeXBT’s isolated margin feature allows traders to manage risk more effectively by isolating the margin for each position. This means that losses on one position won’t affect the margin available for other positions.
• Proprietary Order Book: PrimeXBT’s order book provides detailed market data, enabling traders to make more informed decisions. This feature is particularly useful for those who rely on technical analysis.
• Advanced Charts and Expert Tools: The platform offers a variety of charting options and analytical tools, helping traders to plan their entry and exit points with precision. These tools include indicators like moving averages, RSI, MACD, and more, which are essential for developing trading strategies.
• Risk Management: PrimeXBT provides advanced risk management tools, such as stop-loss and take-profit orders, allowing traders to control their exposure and protect their capital.

CFD Trading on PrimeXBT

Contracts for Difference (CFDs) are financial derivatives that allow traders to speculate on the price movements of various assets without owning the underlying assets.

PrimeXBT’s CFD trading platform offers access to a wide range of markets, including forex, indices, commodities, and cryptocurrencies. CFD trading is popular among traders because it allows them to profit from both rising and falling markets, providing flexibility and opportunities in various market conditions.

Market Coverage

PrimeXBT’s CFD trading platform provides access to over 100 markets, allowing traders to diversify their portfolios across multiple asset classes. The key markets available for CFD trading include

Forex

PrimeXBT offers CFD trading on major, minor, and exotic currency pairs. Some of the most traded pairs include:

• EUR/USD: The most liquid currency pair in the world, representing the euro against the US dollar.
• USD/JPY: The exchange rate between the US dollar and the Japanese yen, another highly traded pair.
• GBP/USD: The exchange rate between the British pound and the US dollar.
• USD/CHF: The US dollar against the Swiss franc, often considered a safe-haven currency pair.

Forex CFDs on PrimeXBT are known for their tight spreads, starting as low as 0.1 pips, making it an attractive option for both day traders and long-term investors.

Indices

Stock market indices are hypothetical portfolios of stocks that represent specific markets. PrimeXBT offers CFD trading on major global indices, including:

• SP500: Represents 500 of the largest companies listed on stock exchanges in the United States.
• Nasdaq: Focuses on technology and biotech companies, making it a key index for growth stocks.
• FTSE 100: Represents the 100 largest companies listed on the London Stock Exchange.

Trading indices allows traders to gain exposure to the broader market without having to pick individual stocks.

Commodities

PrimeXBT offers CFDs on a range of commodities, including metals and energy products:

• Gold: Often seen as a hedge against inflation and economic uncertainty.
• Oil (Brent and Crude): Vital energy commodities that are closely tied to global economic activity.
• Natural Gas: A key energy commodity with significant price volatility.

Commodity CFDs on PrimeXBT allow traders to speculate on price movements without the need to physically own the commodities.

Cryptocurrencies

PrimeXBT offers CFD trading on a variety of cryptocurrencies, including both major coins and altcoins:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Ripple (XRP
• Dogecoin (DOGE)

In addition to these, PrimeXBT offers CFDs on other cryptocurrencies like EOS, DOT, Filecoin, MANA, VET, and more. This wide range of assets allows traders to capitalize on price movements across the cryptocurrency market.

Fees

PrimeXBT’s fee structure for CFD trading is designed to be competitive and transparent:

• Spreads: The primary cost of trading CFDs on PrimeXBT comes from the spread, which is the difference between the bid (sell) and ask (buy) prices. Spreads on PrimeXBT start from 0.1%, depending on the asset class and market conditions.
• Trading Fee: PrimeXBT does not charge additional commissions on CFD trades. The spread is the only cost, which makes it easier for traders to calculate their expenses.
• Minimum Deposit: Traders can start trading with as little as $1, making PrimeXBT accessible to those with varying levels of capital.
• Withdrawal Fee: Withdrawal fees depend on the payment method or blockchain used, starting from 0.5%.

Why Trade CFDs with PrimeXBT?

• Wide Market Access: PrimeXBT offers a diverse selection of markets, allowing traders to build well-rounded portfolios. This diversification can help mitigate risk by spreading exposure across different asset classes.
• Low Trading Costs: With spreads starting from 0.1% and no commissions, PrimeXBT is cost-effective, especially for traders who frequently enter and exit positions.
• User-Friendly Interface: PrimeXBT’s platform is designed with user experience in mind, offering an intuitive interface that is easy to navigate. This makes it accessible to both beginners and experienced traders.
• Advanced Trading Tools: The platform provides a range of tools for technical analysis, including customizable charts, technical indicators, and drawing tools. These features are essential for traders who rely on market analysis to make informed decisions.
• Risk Management Features: PrimeXBT offers various risk management tools, such as stop-loss and take-profit orders, which allow traders to set predefined exit points for their trades. This is particularly important in volatile markets, where prices can change rapidly.

Copy Trading on PrimeXBT

Copy trading is a feature that allows users to automatically replicate the trades of experienced traders, making it an ideal solution for beginners or those who do not have the time to actively manage their portfolios.

PrimeXBT’s copy trading platform is designed to be user-friendly, enabling both novice and experienced traders to benefit from the expertise of others.

How Copy Trading Works

• For Followers: Copy trading on PrimeXBT is straightforward. Users, known as followers, can browse a list of top-performing traders on the platform. Once a follower selects a trader to copy, their trades are automatically replicated in the follower’s account. This allows even inexperienced traders to potentially earn profits by leveraging the expertise of seasoned professionals.
• For Strategy Providers: Experienced traders can sign up as strategy providers, sharing their trading strategies with others. Strategy providers earn up to 20% of the profits generated by their followers. This creates an incentive for experienced traders to perform well, as their earnings are tied to the success of their followers.

Profit Share Structure

The profit share model on PrimeXBT is designed to be fair and transparent:

• Copy Trader (Follower): 60% of the profits go to the follower who is copying the trades.
• Strategy Manager (Provider): 20% of the profits are earned by the strategy provider.
• Platform: 20% of the profits are retained by PrimeXBT as a platform fee.

Membership Plans

PrimeXBT offers membership plans that provide additional benefits for both followers and strategy providers. These benefits may include increased profit share, reduced trading fees, and access to premium features.

Membership plans are designed to enhance the trading experience and reward active participation on the platform.

Why Use Copy Trading on PrimeXBT?

• Accessibility for Beginners: Copy trading is an ideal solution for those new to trading or those who lack the time to develop their own strategies. By following successful traders, beginners can start earning profits while learning the ropes.
• Diversification: Followers can choose to follow multiple strategy providers, diversifying their exposure to different trading styles and markets. This can help reduce risk by spreading investments across various strategies.
• Passive Income Opportunity: For experienced traders, becoming a strategy provider offers the potential to earn additional income by sharing their strategies with others. The more successful the strategies, the more followers they can attract, leading to higher earnings.
• Risk Management Tools: PrimeXBT provides advanced risk management tools for copy trading, including stop-loss orders, which allow followers to set maximum loss limits on copied trades. This helps protect their capital in case the copied strategy does not perform as expected.

Buying Cryptocurrency on PrimeXBT

PrimeXBT offers a straightforward and user-friendly platform for purchasing cryptocurrencies. Users can buy a wide range of digital assets, including popular options like Bitcoin (BTC) and Ethereum (ETH), using various payment methods such as Visa, Mastercard, bank transfers, and other third-party payment options.

This service is designed to cater to both new and experienced users, providing a secure and efficient way to enter the cryptocurrency market.

How to Buy Crypto on PrimeXBT

Buying cryptocurrency on PrimeXBT is a simple process that can be completed in just a few minutes. Here’s a step-by-step guide:

1. Open a PrimeXBT Account: Start by creating an account on PrimeXBT, which is a quick and straightforward process.
2. Select Your Payment Method: Choose from a variety of payment options, including Visa, Mastercard, bank transfers, or other third-party payment services.
3. Choose Your Cryptocurrency: Select the cryptocurrency you wish to purchase, such as Bitcoin or Ethereum, and specify the amount you want to buy.
4. Receive Your Crypto: Once the purchase is complete, your PrimeXBT wallet will be credited instantly with the cryptocurrency you bought.

What You Can Do with Your Crypto

Once you’ve purchased cryptocurrency on PrimeXBT, the platform offers several options for managing and utilizing your digital assets:

• HODL: Store your cryptocurrencies securely in your PrimeXBT wallet, allowing you to hold onto your assets for the long term.
• Send: Transfer your cryptocurrency to another wallet by simply entering the recipient’s wallet address.
• Swap: Exchange one cryptocurrency for another within your PrimeXBT account, enabling you to diversify your portfolio or adjust your holdings based on market conditions.
• Sell: Convert your cryptocurrency into fiat currency and withdraw it to your bank account, providing liquidity when you need it.
• Spend: Use your cryptocurrency to purchase goods and services at participating merchants, expanding the practical use of your digital assets.
• Trade: Leverage your cryptocurrency holdings to trade on PrimeXBT’s platform, accessing over 100 markets and maximizing the potential of your assets.

PrimeXBT’s buying service is designed to be secure, fast, and accessible, making it a convenient choice for anyone looking to enter the cryptocurrency market or expand their existing portfolio.

The platform’s 24/7 support ensures that users can get help whenever they need it, further enhancing the overall user experience.

PrimeXBT has created an exclusive offer for our readers. By using the promo code "cryptoro20" you can receive a 20% bonus on your deposit, with a maximum bonus of $7,000. This bonus is fully tradable, allowing you to make the most out of your trading experience on the platform.

PrimeXBT’s Commitment to Client Transparency and Protection

PrimeXBT is a member of the Financial Commission, an independent external dispute resolution (EDR) organization. This affiliation ensures that traders have access to a neutral third-party committee to resolve disputes.

The Financial Commission’s Compensation Fund covers judgments of up to $20,000 per client, providing an additional layer of protection for users. This commitment to transparency and client protection sets PrimeXBT apart from many other online trading platforms.

PrimeXBT’s Security Measures

The majority of customer digital assets, particularly Bitcoin, are stored in offline cold wallets.

This minimizes the risk of loss due to online threats. Only a limited amount of digital assets are held in hot wallets to process withdrawals and other transactions.

To further enhance security, PrimeXBT employs a manual process for all incoming and outgoing transfers. Each transaction undergoes rigorous checks for risk scoring, money laundering, suspicious trading activity, and other security concerns before being executed.

This manual verification process, combined with multi-signature access (Multisig), ensures that fund transfers require the coordinated efforts of multiple employees, reducing the risk of unauthorized access.

All customer assets at PrimeXBT are stored in cold storage wallets, and the platform processes withdrawals once a day, between 12:00 and 14:00 UTC.

Withdrawals requested before 12:00 UTC are processed on the same day, while those requested after 12:00 UTC are processed the following day. This routine enhances the security of customer funds, providing an additional layer of protection.

Conclusion

PrimeXBT offers a robust trading platform with a diverse range of products, competitive fees, and a variety of tools designed to enhance the trading experience.

Whether you’re interested in crypto futures, CFDs, copy trading, or simply buying cryptocurrencies, PrimeXBT provides the necessary resources to help you succeed.

» REGISTER NOW FOR BONUS  «

PrimeXBT has created an exclusive offer for our readers. By using the promo code "cryptoro20" you can receive a 20% bonus on your deposit, with a maximum bonus of $7,000. This bonus is fully tradable, allowing you to make the most out of your trading experience on the platform.

Frequently Asked Questions

What is PrimeXBT?

PrimeXBT is a multi-asset trading platform that allows users to trade cryptocurrencies, forex, commodities, and indices using leverage. The platform offers competitive trading conditions, including low fees, high liquidity, and a user-friendly interface. PrimeXBT is popular for its advanced trading tools and the ability to trade with high leverage, up to 1:1000 on some assets.

How secure is PrimeXBT?

PrimeXBT places a strong emphasis on security, utilizing cold storage wallets to store the majority of user funds offline, significantly reducing the risk of hacking. Additionally, the platform employs two-factor authentication (2FA) and other security measures to protect user accounts.

What are the available deposit and withdrawal options on PrimeXBT?

Users can deposit and withdraw funds using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC). PrimeXBT also supports deposits and withdrawals via credit cards. All transactions are processed quickly, but withdrawal times may vary depending on the method used.

Does PrimeXBT offer a demo account?

Yes, PrimeXBT offers a demo account that allows users to practice trading with virtual funds. This is a great way for beginners to familiarize themselves with the platform and test different trading strategies without risking real money.

What leverage does PrimeXBT offer?

PrimeXBT offers high leverage on various assets, with up to 1:1000 for CFDs and 1:200 for cryptocurrency futures. Leverage allows traders to control larger positions with a smaller amount of capital, but it also increases the risk of losses.

What bonuses and promotions does PrimeXBT offer?

PrimeXBT frequently offers bonuses and promotions, such as deposit bonuses. For example, new users can use the promo code “cryptoro20” to get a 20% bonus on their deposit, up to a maximum of $7,000. The bonus is fully tradable, meaning it can be used to increase your trading potential on the platform.

Is PrimeXBT regulated?

PrimeXBT is not currently regulated by any major financial regulatory body. It operates under a St. Vincent and the Grenadines entity and is known for its focus on providing high-leverage trading options. While the lack of regulation might be a concern for some users, PrimeXBT has implemented strong security measures and has a reputation for being a reliable platform.

What are the fees on PrimeXBT?

PrimeXBT charges low trading fees, which vary depending on the asset being traded. For example, the fee for cryptocurrency trades is typically 0.05%, while forex and commodity trading fees can vary. Additionally, there are overnight financing fees for positions held open overnight, which can also vary.

How do I contact PrimeXBT customer support?

PrimeXBT offers 24/7 customer support, which can be accessed via live chat, email, or through their support center on the website. The platform supports multiple languages, ensuring that users from different regions can receive assistance in their preferred language.

Can U.S. residents use PrimeXBT?

No, PrimeXBT does not accept users from the United States due to regulatory restrictions. The platform also restricts users from other countries like Japan, Canada, and some others.

Is PrimeXBT Legit?

PrimeXBT is considered a legitimate trading platform by many in the crypto and trading community. It has gained a solid reputation since its launch in 2018 for providing a secure and efficient trading environment with competitive fees and advanced trading tools. The platform is known for its high leverage options, robust security measures, and a user-friendly interface.