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PrimeXBT Review

PRIMEXBT Accounts

Founded in 2018, PRIMEXBT is a multi-asset exchnage that allows you to trade cryptocurrencies, commodities, Forex, and major stock indices.

 

PRIMEXBT Review

Foundation: PRIMEXBT was founded in 2018

Headquarters: Prime Technology Ltd is based in Seychelles (Registration No. 217308)

US Residents: PRIMEXBT forbids traders from the U.S. -NO-

-Not allowing also clients from Canada, Cyprus, Israel, Japan, Algeria, Ecuador, Iran, and Russia

Regulated: PRIMEXBT is NOT regulated and there is NO provision for an 'Investor Compensation Scheme'

Client Bank Account Segregation: They write on their website "Any Margin and other Virtual Assets held by PrimeXBT on the behalf of Clients shall be segregated from PrimeXBT’s own Virtual Assets, currencies, and property". However, there is no further information about how they segregate clients' funds from their own.

Website Language: English, Spanish, French, German, Portuguese, German, Italian, Hindi, Indonesian, Russian, Chinese, Japanese, Turkish, Thai, Bangladesh, Korean and Vietnamese

Customer Support: 24/5 via Phone, Ticket, LiveChat, and email

PRIMEXBT REVIEW SUMMARY

PRIMEXBT offer MT4, MT5, and WebTrader■ Broker Type: Market Maker (Crypto Trading) and STP (Forex Trading)

■ Liquidity Providers: 12 (according to their website)

■ Trading: Cryptocurrencies, Forex Currencies, Commodities, and major Indices

Platforms: WebTrader

■ Demo Account: NO

■ Trading Costs: PrimeXBT offers volume-based pricing

■ Leverage: 30:1 and up to 1000:1 (where is allowed)

■ Automated Trading: NO

■ PAMM/MAM Accounts: NO

■ COPY TRADING: YES

■ Minimum Account: $10

PRIMEXBT Real Trading Account

 

PRIMEXBT TRADING ASSETS

Currently, PRIMEXBT offers the following assets:

Cryptocurrencies

PrimeXBT supports the trading of Crypto-Fiat trade pairs but also Crypto-BTC trade pairings:

  • BTC/USD, ETH/USD, LINK/USD, DOGE/USD, EOS/USD,SHIB/USD, SOL/USD, and XRP/USD
  • ETH/BTC, LTC/BTC, ADA/BTC, DOT/BTC, EOS/BTC, and XRP/BTC

Forex Pairs

PrimeXBT supports major Forex pairs, crosses, and exotics:

  • Majors include EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/CAD, and USD/JPY
  • Crosses include AUD/JPY, EUR/GBP, and GBP/JPY
  • Exotics include USD/THB and USD/MXN

Commodities CFDs

  • Brent, Crude, and Natural Gas
  • Gold and Silver
  • Aluminium, Copper, Lead, Nickel, and Zinc

Indices CFDs

  • DJIA, Nasdaq, and the S&P 500
  • Euro Stoxx 50, CAC 40, DAX, FTSE 100, and IBEX 35
  • ASX 200, Hang Seng Index, and Nikkei 225

 

PRIMEXBT TRADING PLATFORM

PrimeXBT offers a webtrader that is easy to use and provides technical analysis via Tradingview.

  • technical analysis via Tradingview
  • hundreds of built-in TA indicators
  • 50 intelligent drawing tools
  • in-depth market analysis
  • educational resources

Trading Orders

  • Market orders
  • Limit orders and Stop-Limit orders
  • OCO (Once-Cancels-the-Other) orders

Copy-trading

You can set up and manage your trading strategies or follow (copy) the strategies of other successful traders:

  • A strategy is a pool of a trader's funds that is visible to the public and can be followed by others

 

PRIMEXBT.COM ACCOUNT INFORMATION & FEES

Minimum Account: The minimum required deposit amount to open an account with PRIMEXBT is just 10 USD

■ Deposit/Withdrawal Methods:

SEPA transfers

Credit/Debit Cards

 AdvCash and PerfectMoney

PrimeXBT supports crypto deposits via BTC, ETH, USDT, USDC and COV deposits

Each account on the platform has a 24H withdrawal limit of $20000

■ Trading Fees & Overnight Financing

A Trade Fee is incurred any time a position is opened or closed:

  • 0.05% for Cryptocurrencies
  • 0% for Forex, Indices, Commodities

Overnight Financing is incurred any time a position is carried into a new trading day, at 00:00 UTC.

Withdrawal Fees 

Crypto withdrawals:

  • For BTC the withdrawal fee is 0.0005 BTC
  • For the ERC-20 network: 0.002 ETH, 10 USDT, and 10 USDC
  • For BEP-20 network: 0.00007 ETH, 0.8 USDT, and 0.8 USDC
  • For the TRC-20 network: 0.8 USDT and 0.5 USDC

Cash withdrawals:

  • For Advcash and Perfect Money withdrawals from the platform, the withdrawal fee is 5 USD

PRIMEXBT Account

 

PRIMEXBT REVIEW PROS AND CONS (According to competition)

PRIMEXBT REVIEW PROS & CONS

PRIMEXBT REVIEW PROS (√)

PRIMEXBT REVIEW CONS (X)

√ Trading Crypto, Forex, Commodities, and Indices in the same account

√ Fair trading fees compared to similar exchanges

√ Deposits and withdrawals via Crypto and Fiat

√ Advanced trading tools via TradingView

√ Copy trading

√ Trading Contests

X Not regulated and no Investor's Compensation Scheme

X PrimeXBT features CFDs, not Spot trading

X Withdrawal fees

X No demo account

 

PRIMEXBT Review Conclusions:

Established in 2018, PrimeXBT is headquartered in Seychelles and operates as a multi-purpose exchange. The broker is not regulated.

Using capital leverage, clients can trade Crypto, Commodities, Forex, and Global Indices. There is no demo account and real accounts can be funded via Banks, Cards, Crypto, and 2 internet wallets.

  • They offer a web-trading platform that is easy to use and supports technical analysis via TradingView.
  • They also offer copy trading and trading contests.

PrimeXBT has over 100 trading assets available by using 12 liquidity providers. They offer low deposit requirements and the ability to copy trades and participate in trading contests.

Overall, PrimeXBT is a good choice only for beginners who seek to learn and trade the global markets, especially the crypto market. Note that this broker features CFD trading, not Spot trading.

PRIMEXBT Real Account

 

 

PRIMEXBT.com Review

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