PrimeXBT Review 2024 – All You Need to Know

PrimeXBT is a leading crypto trading platform in the margin trading industry, established in 2018, and it is an exchange that offers crypto futures trading and traditional financial assets. Users can trade in a wide range of markets, including cryptocurrency, Forex, Indices, and commodities, using BTC, ETH, USDT, and other popular cryptocurrencies as collateral. The company also recently added fiat account funding in USD and EUR.

This exchange was registered in Seychelles under its holding company PrimeXBT trading services, number 148707. Until early 2019 had not launched its trading services; later, it opened an office in St.Vincent & The Grenadines and shifted its trading infrastructure to Switzerland. In this PrimeXBT review article, we have all the details you need to know about the PrimeXBT platform.

PrimeXBT Summary

Official Website https://primexbt.com/
Headquarters Seychelles
Found in 2018
Native Token None
Listed Cryptocurrency Bitcoin, Ethereum, Litecoin, Dogecoin, Ripple, Solana, Chainlink, and more than 30 others
Trading Pairs BTC/USD, ETH/USD, LTC/USD, XRP/USD, SOL/USD, ETH/BTC, LTC/BTC, DOGE/USD, and more than 40 others
Supported Fiat Currencies USD, EUR
Supported Countries 150+
Minimum Deposit None
Deposit Fees 0
Transaction Fees Average
Withdrawal Fees 0.0005 BTC
Application iOS and Android
Customer Support 24/7 Live chat & Email Support

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PrimeXBT Review - Platform Interface

What Is the PrimeXBT Trading Platform?

PrimeXBT is a well-known online cryptocurrency exchange providing CFDs on traditional assets and crypto futures trading. This company has a proven track record and has grown exponentially in a short time, and it has clients globally.

PrimaXBT is an efficient trading engine that provides exclusive trader tools that both new and experienced traders can use. It has effectuated industry-standard security practices, thereby protecting the investor funds and their trading activities from cyber threats.

It offers different types of orders like a limit order, stop-loss order, leverage trading, and permits the users to trade on traditional and crypto markets using Bitcoin, other crypto assets, or fiat as their collateral.

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Features of PrimeXBT Exchange

Here are a few unique features of Prime XBT:-

  • PrimeXBT allows users to deposit BTC, ETH, USDT, USDC, or other popular cryptocurrencies to use as collateral. This allows traders to avoid liquidating holdings at potentially unfavorable prices, or get more value out of digital assets. Additionally, PrimeXBT has recently launched USD and EUR fiat accounts.
  • PrimeXBT trading services offer privacy to their cryptocurrency traders. Even though it is self-regulated, it has partnered with numerous anti-money laundering authorities around the world.
  • PrimeXBT crypto futures provides access to the always-on crypto market via perpetual contacts. Trade over 30 top cryptocurrencies using a powerful sliding leverage scale, with the ability to switch between isolated and cross margin systems. These options allow traders to control even the most granular of details related to each position. Furthermore, PrimeXBT crypto futures allows traders to profit from both market directions, with long or short positions.
  • In addition to a wide range of cryptocurrencies, PrimeXBT provides exposure to CFDs on traditional assets such as base and precious metals, commodities, stock indices, and forex currency pairs.
  • As per the PrimeXBT review, it offers a well-designed and innovative platform where the widgets can be customized. It provides over 12 integrated liquidity providers capable of executing over 12,000 orders a second and enables the average market orders to be executed immediately.
  • PrimeXBT features the Covesting copy-trading platform – a peer-to-peer copy trading community that allows the traders to automatically copy the trades of other successful traders and use them for their benefit.

Why PrimeXBT?

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Pros and Cons of PrimeXBT

Pros Cons
The sign-up process is quick, intuitive, and takes only a few minutes. PrimeXBT is not offered in all jurisdictions.
PrimeXBT trading offers lower fees, a variety of leverage options, competitive trading conditions, and competitive service fees. As such, clients in the US, Canada do not come under the supported countries list of Prime XBT.
Trades can be executed super-fast as the platform uses the latest technology and liquidity resources. This exchange compared to other crypto exchanges is self-regulated.
It offers CFD trading in traditional assets and crypto futures. PrimeXBT provides CFD trading and crypto futures, but not spot trading.
Offers an adjustable margin mechanism, allowing users to fine-tune leverage to their specific goals and risk appetite.
PrimeXBT facilitates an excellent trading platform that both new and experienced traders can use.
There is no minimum deposit to get started.

Account Opening Process

PrimeXBT Review - Account Opening Process

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Below are the Steps to Open an Account with PrimeXBT:-

To open an account with PrimeXBT is an effortless process, the trader should go to the website and click the Register button. The registration process takes less than a minute because no personal details or verification is required.

The user needs to fill in their details like full name, email, and strong password. Next, they need to click and accept the terms of the service and click submit.

A verification email is sent to the trader’s email ID; after clicking that link, they are automatically logged in to the account.

The next step is to deposit the funds into their PrimeXBT account. The user can also buy crypto with a credit card to start trading.

Prime XBT allows you to secure your account using a solid email plus password combination along with Google Authenticator-based 2FA.

PrimeXBT Trading Fees

PrimeXBT Review - PrimeXBT Fees

The principal fees at PrimeXBT are Trade fees and Overnight Financing. PrimeXBT charges trade fees/commissions on the trades executed. PrimeXBT also charges overnight finance fees for holding a position open overnight, but this varies from trading pair to pair.

Concerning PrimeXBT fees, this platform offers lower prices, and it does not charge deposit fees, but the withdrawal fee will cost 0.0005 BTC, which is a standard fee to cover the Bitcoin transaction cost.

A trading fee is charged when a trader opens or closes a position every time. Below is the list of fees charged by the platform –

  • For cryptocurrency trades, 0.05% is charged.
  • For Indices and commodities, 0% is charged.
  • For Forex, 0% is charged.

Note: Fees are subject to change based on market conditions.

Deposit and Withdrawal Methods

According to the PrimeXBT review, the platform accepts only Bitcoin as payment currency. Additionally, the company now offers fiat deposits in USD and EUR.

For users that don’t already own cryptocurrencies, PrimeXBT has a widget in its deposit section where the user can buy BTC, ETH, USDT, etc. through a credit or debit card. If the user already has crypto, it is simple to deposit them into their account via the specific deposit address. Fiat deposits can be made with a debit or credit card as well as other methods.

Withdrawing the funds is a simple and straightforward process. The user needs to input the quantity and a personal crypto address to proceed with the process. This platform provides address whitelisting, which implies the addresses are already preset and can be used for withdrawals. 0.0005 BTC or the equivalent crypto is the fee charged for withdrawals.

Products Offered by PrimeXBT

PrimeXBT Review - Products Offered by PrimeXBT

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This platform supports crypto futures trading on digital assets like Bitcoin, Litecoin, Ethereum, Ripple, Dogecoin, and other supported cryptocurrencies to trade on the forum.

PrimeXBT provides some of the most popular indices like SP 500, FTSE 100, ASX 200, DAX30, and more.

The users can trade in the Forex market using minor or significant forex pairs. Further, they will be charged a commission or trading fees when they execute trades.

In commodities, the users can trade gold, silver, aluminum, lead, zinc, copper, natural gas, crude oil, etc.

PrimeXBT Crypto Futures Platform

PrimeXBT Reviews - PrimeXBT Trading Platform

PrimeXBT is a good trading platform designed for both new and advanced traders and provides a hassle-free experience. Even though it has several advanced trading features, it offers a browser-based platform that does not require installation or downloads.

PrimeXBT distinguishes itself with a highly customizable interface that caters to the preferences and requirements of individual traders. The platform’s user-friendly design allows users to arrange and organize their trading environment to suit their specific needs, making the trading experience more personalized and efficient.

Furthermore, PrimeXBT has integrated the renowned TradingView charting software, providing traders with access to advanced charting tools, technical indicators, and a vast array of resources for conducting in-depth market analysis. This seamless integration of TradingView enhances the overall trading experience on PrimeXBT, empowering traders to make well-informed decisions, identify potential opportunities, and develop sophisticated strategies in the fast-paced and dynamic world of cryptocurrency trading.

PrimeXBT’s Crypto Futures platform offers an accessible and powerful solution for traders looking to diversify their portfolios, hedge against market volatility, and explore new profit opportunities. With a wide range of cryptocurrencies available, customizable leverage settings, and a robust margin system, traders can take full advantage of the potential benefits offered by crypto futures trading. By incorporating crypto futures into their trading strategies, traders can better manage risk, seize profit opportunities in both rising and falling markets, and ultimately enhance their overall trading experience.

Copy Trading

Covesting Module by PrimeXBT

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PrimeXBT offers the Covesting copy trading module to all the users on their platform. It allows the traders to copy and execute the winning trade strategies of other professional traders.

The first crypto exchange offers this unique feature and offers a transparent trading environment to its users. It also permits the traders to set and manage their trading strategies to execute profitable trades from current market movements, which provides new and advanced traders an opportunity to boost their profit potential.

PrimeXBT Affiliate Program

Affiliate Program by PrimeXBT

PrimeXBT affiliate is a unique program that offers generous rewards to its customers. It provides marketing tools and affiliate links to become a partner. Through referrals, the affiliate partner gets a small percentage as commission.

For example, if a trader brings in a new customer through the affiliate program and executes a trade worth $1000 in BTC, PrimeXBT trading fees are $50 or 0.05%, and the affiliate partner gets 20% which is $10 as a reward.

PrimeXBT Mobile App

Explore the PrimeXBT Mobile App Services

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PrimeXBT offers a mobile app where the users can install the app from the Google play store or the Apple App Store for iOS. During our Prime XBT review, the platform offers two-factor authentication. This means that you will have to authorize the login on your phone via the google authenticator. It is not mandatory for you to enable 2FA on your phone although it is highly encouraged. You can do this quite easily through your account management options in your “security settings”.

PrimeXBT will present you with a QR code and a backup key. This has received several good reviews, and several thousands of users have downloaded them. The user then opens a new account through this mobile app, and they can trade more than 100 assets across Forex, cryptocurrencies, commodities, Indices, etc.

The mobile app’s user interface is intuitive, and it is easy for the user to navigate and access complex charting tools. Users can have control over their accounts, can deposit and withdraw funds on the same trading day.

Security Parameters

  • Prime XBT exchange has an extensive and powerful cybersecurity network to ensure that strict practices and measures are in place for their customers to protect their assets against any threats. It also conducts periodical tests and also audits and provides a platform that strict security standards have complied with the platform.
  • PrimeXBT trading platform has been designed to meet the highest industry standards. These systems are uniquely coded to increase order execution, speed and to minimize latency. It automatically monitors all the risks associated with an order size, buying power factor, maximum position size, profit or loss, and executes complete risk management when the order is placed.
  • This platform offers wallet security where the customer’s digital assets are stored in their offline cold storage. Further, only a portion of their digital assets is held in their best crypto wallet or hot wallet, or online trading wallet.

Security Features by PrimeXBT

  • This platform uses multi-signature, also known as “Multisig” to prevent unauthorized access and provide tolerance and attacks for losing access to their key by removing single points of failure. The fund transfer from the storage to their wallets is manually handled, and it requires collaborative work.
  • The process used by Prime XBT is a dual-factor authentication that requires an in-depth verification process. This offers a higher level of protection than using single-factor methods, where it only requires a password.
  • PrimeXBT offers their customers an additional level of protection called withdrawal address whitelisting. This acts as an extra layer of secureness by allowing their clients to whitelist a specific withdrawal address. This can help you prevent transfers to unauthorized wallets, which is handy if anyone gets unauthorized access to your trading account management page.
  • The website of PrimeXBT is protected through SSL (secure socket layer) technology and encrypts the data transmitted through the internet. By doing this, the hackers would not be able to steal highly protected personal information.

Customer Support

PrimeXBT Customer Support Services

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Prime XBT offers 24×7 operations with a team of highly knowledgeable, and they assist the customers anytime. It offers its support through two types of support channels  –

  • Users can email the support team to [email protected] or [email protected]. They can send their queries to the customer support team to receive a reply within a few hours.
  • PrimeXBT also offers instant web chat, available on the website to get an instant reply through chat assistance. Within a few seconds, the users can get a response to their queries.

Our Verdict: Is PrimeXBT Legit?

To sum up, PrimeXBT is one of the most popular and secured crypto futures trading platforms that offer their users access to traditional assets, leveraged trading, and all the required tools to trade in the crypto market. And, hence it comes under the list of best crypto exchanges. It is also a self-regulated platform, and it provides its users with high-security systems and privacy.

It provides comprehensive crypto futures trading and CFDs on traditional assets, and the fees charged by the platform are lower. Compared with other media, Prime XBT is serving thousands of users every day; additionally, features like Covesting help new traders understand margin trade and leveraged trading, and they can also learn trading from other traders. Prime XBT is the best platform if the user wants to trade cryptocurrencies with lower fees.

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FAQs

What Is PrimeXBT Crypto Futures?

PrimeXBT Crypto Futures is a trading feature on the PrimeXBT platform that allows users to trade cryptocurrency futures contracts. These contracts enable traders to speculate on the future price movements of various cryptocurrencies, offering opportunities for profit and portfolio diversification. Traders can utilize leverage and margin trading to control larger positions with a smaller amount of capital, enhancing their potential returns.

Is PrimeXBT Legit?

Prime XBT is considered one of the market makers and legitimate companies, and it has been registered in Seychelles under Prime Technology Limited, Seychelles company, number 217308. Since its inception, this global exchange has gained more popularity and has thousands of users spread over 150 countries worldwide.

Is PrimeXBT Safe?

Prime XBT is a safe cryptocurrency exchange platform where users can trade different types of markets. It offers a variety of leverage options for its customers. It does not have any report regarding breaches and provides its users the best security parameters, procedures, and protocols, thereby ensuring the safety of their clients. It stores its client’s funds in cold storage wallets and ensures that the user follows Two Factor Authentication.

Is PrimeXBT Regulated?

Any authorities do not regulate PrimeXBT; it is a self-regulated exchange.

How Do I Withdraw From PrimeXBT?

For withdrawing, the user should go to the PrimeXBT website and log in to their account. They need to click the withdraw option. First, they need to transfer their money from their trading account to their wallet, as withdrawals can be made. The next step would be to fill in the destination address and click the submit to withdraw option. You can make withdrawals only to a whitelisted wallet address.

Is PrimeXBT Covesting Legit?

Yes, Covesting in PrimeXBT is legit.

Is PrimeXBT Allowed in the US?

No, PrimeXBT does not allow US resident users.

How Do I Get PrimeXBT Bonus?

PrimeXBT is currently giving a promotional $100 bonus for deposits of $500 or more. You can claim the bonus within 48 hours of registration, and it will remain valid for two weeks.

Is PrimeXBT Free?

The Platform does not charge any deposit fee but do charge a transaction cost while withdrawing.

Constitute Investment Advice Disclaimer – Trading in forex is a complex instrument with a high risk of losing money rapidly due to leverage, and the products are not suitable for all investors. Independent financial advice should be taken before proceeding.

Disclaimer: This page does not solicit or recommend investments, nor does it provide trading or financial advice. Before investing in cryptocurrencies or engaging in securities trading, you should conduct thorough due diligence, including consultation with a certified financial advisor. We accept no liability for any financial losses incurred.

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