PrimeXBT Review 2021: Security, Fees & Special Features

The webs most detailed PrimeXBT review: Learn more about this bitcoin-based trading platform for active day traders and scalpers. What makes this multi-broker stand out from the crowd? Keep reading to find out what our experts have to say about this new trading platform.

3.79/5
Trustworthy
Non-Regulated
Seychelles flag
PrimeXBT
Founded May 2018
Owner PrimeXBT Trading Services LLC
Type Cryptocurrency Exchange
Fees 0.05%
account minimum 10$
Best for Day Traders

Why PrimeXBT

In this section of our PrimeXBT review we highlight 6 special features that deserves extra attention.

Trade short term turbo contracts for high volatility and fast profits. Be mindful of the high risk.
Turbo Trading
Trade short term turbo contracts for high volatility and fast profits. Be mindful of the high risk.
Make money by copying profitable traders and follow their strategies automatically.
Copy Trading
Make money by copying profitable traders and follow their strategies automatically.
Read price predictions in specific markets. Learn how the professionals think and follow their ideas.
Price Prediction
Read price predictions in specific markets. Learn how the professionals think and follow their ideas.
Register your account with lightning speed and start trading within seconds. Never miss a trade setup.
Quick Registration
Register your account with lightning speed and start trading within seconds. Never miss a trade setup.
Enter and exit the market in less than milliseconds. Best tools for fast day traders and scalpers.
Fast Execution Speed
Enter and exit the market in less than milliseconds. Best tools for fast day traders and scalpers.
Use complex tools like multi charts, advanced order types, AI, machine learning, or alerts.
Advanced Trading Tools
Use complex tools like multi charts, advanced order types, AI, machine learning, or alerts.

About PrimeXBT

PrimeXBT is based in Seychelles and the company behind this bitcoin-based leverage trading platform is PrimeXBT Trading Services LLC. This is a rather new start-up that was launched in 2018. They already serve traders from more than 150 different countries all over the globe and day traders seem to like it.

PrimeXBT is promoting a wide range of trading tools, high liquidity, high security, and a very efficient trading environment for its clients. Due to the rapid expansion of PrimeXBT, we can only say that so far it has been a success. Both experienced and semi-experienced traders use their platform and their innovative one-click trade system is what most traders are looking for.

Why use PrimeXBT

This trading platform is for experienced day traders and scalpers who are into high leverage and fast trading. The technology and system behind PrimeXBT are tailored for a high number of trades per second and extreme loads, including large trades as well. Trades are executed in less than milliseconds and this is a must for any day trader who is trying to stay ahead of the curve when it comes to speed.

Copy trading is also something that PrimeXBT is promoting actively through the Covesting platform. This is a great way to follow already profitable traders and earn money passively. All copy trading is done automatically and you can pick from a list of different traders where you will be able to see their performance, amount of active days, total profit, amount of followers, and the follower’s equity.

Trading on PrimeXBT

I consider PrimeXBT to be an advanced trading platform thanks to the complex charting which is completely customisable and you can change it just the way you want. PrimeXBT also offers several order types that are somewhat complex and you need to be atleast an intermediate trader to understand everything. The charting software is full of technical indicators, drawing tools, and all the time-frames down to 1minute are available.

Since PrimeXBT is what we call a multi-broker they offer different products, such as cryptocurrencies, forex, stock indices, and commodities. You can easily swap between all products from the trade interface and also choose your leverage for each product. While trading cryptocurrencies the max leverage is 100x and the forex leverage can be tuned up to 1000x.

To start trading on PrimeXBT you don’t need to file for KYC-documents.

Payment methods & limits

PrimeXBT only offers a few payment methods, cryptocurrencies, card payments, and bank transfers which is a slight minus since this will block many parts of the world who are using e-wallets etc. There are no limits to the withdrawal on cryptocurrencies and and the minimum deposit with card payments is $10.

Things we don’t like

Trading cryptocurrencies, forex, or any other product with leverage is inherently risky. Many traders lose money very quickly on these platforms and it’s definitely something to be mindful of. If you don’t have enough experience you should start out very small because very high leverage can end in tragedy very quickly. This is one aspect of this trading platform that I see as a minus, almost any trader has immediate access to high leverage within minutes.

I don’t see any tools for risk management which should be a must if the broker is offering leverage.

Trading Fees

Products
Maker fee
Taker fee
Cryptocurrency
0.05 %
0.05 %
Forex
0.001 %
0.001 %
Indices
0.01 %
0.01 %
Commodities
0.01 %
0.01 %

Products

Cryptocurrency
Cryptocurrency
Forex
Forex
Indices
Indices
Commodities
Commodities

Trading Platforms

Webtrader
Webtrader
Tradingview
Tradingview
Own trading platform Windows + Mac
Own trading platform Windows + Mac

Order Types

MO - Market Order
SL - Stop Loss
SM - Stop Market
LO - Limit Order
DO - Day Order
GTC - Good till Cancelled
OCO - One Cancel Other
TP - Take Profit

Devices

Desktop
Desktop
Smartphone
Smartphone
Web
Web
Tablet
Tablet

Special Features

One Click Trading
Customisable Interface
Micro Lots
Leverage Trading
Altcoins
Technical Indicators
Trading App
High Limits
2FA Verification
Cold Storage Wallet
Speed Trading
Real Stop Loss
Market News
Short Selling
Trading Strategies
Education
Trading Ideas
Trading Tips
Market Analysis
Fundamental Analysis
New Trading Platform
Cryptocurrency Wallet
Advanced Charting
Advanced Trading Platform
Low Slippage
Trade Alerts
Buy Cryptocurrency

About the special features on PrimeXBT

There are some very nice features on this platform such as quick registration, fast execution speed, real stop loss, short selling, trading tips, and trading tips. The latter can be accessed from the blog at the bottom of the site. You can read up on several interesting facts about cryptocurrencies and other products. PrimeXBT also has a price prediction tool where you can see what other experts think about the markets. This is a cool way if you don’t know how to or don’t feel like making your own analysis.

Turbo trading

Turbo trading is all about fast decisions, fast profits, and sadly sometimes fast losses as well. When you trade on the turbo market on PrimeXBT you have the option to choose between 1 minute, 5 minutes, and 10 minutes trades. You will bet either long or short and if the price is above the price when you when long you make a profit. The same thing goes for your short bets, if the market is lower than the price you entered the market at when you opened your short position you will make a profit.

Copy trading

Follow other traders automatically and make profits when they profit in the chosen market. You can choose between several different traders in a list where you can see the number of followers they have and their profitability. When done correctly it’s a great way of making passive income through copy trading. There are of course some extra fees to this style of trading, but if your trader wins a lot, you will also profit.

Multi-broker

PrimeXBT offers cryptocurrencies, forex, stock indices, and commodities which makes it a multi-broker. You can access all of these products from the same account and the same trade interface. All of these products can be traded through the PrimeXBT mobile app as well. Remember to add the 2FA verification protection before you start!

Email notifications

You have the option to receive information about your open positions by email. For example, if you have active orders open you can choose to enable email notifications if there would be any changes to the positions.

Funding

Visa
Visa
Mastercard
Mastercard
Cryptocurrency
Cryptocurrency
Bank transfer
Bank transfer
SEPA
SEPA

Accepted Currencies

USD ($)
VND (₫)
TRY (₺)
THB (THB)
CHF (CHF)
SEK (kr)
ZAR (R)
SGD ($)
RUB (₽)
RON (RON)
GBP (£)
PLN (zł)
PHP (₱)
NOK (kr)
NGN (₦)
NZD ($)
MYR (RM)
KES (Ksh)
JPY (¥)
IDR (Rp)
INR (₹)
ISK (ISK)
HUF (Ft)
HKD (HK$)
EUR (€)
DKK (kr.)
CZK (Kč)
HRK (HRK)
COP ($)
CLP ($)
CAD ($)
BGN (лв.)
BRL (R$)
AUD ($)
ARS ($)

Limits

Max Withdrawal Limits
$0 daily
Min Withdrawal Limits
$0.01
Min Deposit Limits
$10

Languages

United Kingdom
English
India
Hindi
Japan
Japanese
Spain
Spanish
France
French
Turkey
Turkish
Germany
German
Vietnam
Vietnamese
Thailand
Thai
Italy
Italian
Russian Federation
Russian
Portugal
Portuguese

Restricted Countries

United States
United States Minor Outlying Islands
Canada
Japan
Algeria
Ecuador
Iran, Islamic Republic of
Syrian Arab Republic
Korea, Democratic People"s Republic of
Sudan
American Samoa
Russian Federation
Israel
Saint Vincent and the Grenadines

Security

Is PrimeXBT safe to use?

PrimeXBT is encrypted with SSL protection and will protect your data. The bitcoin wallet is secured with digital cold wallet storage which is one of the best ways to guard your digital assets. Since this is a new platform there is not much reported on PrimeXBT and we need some more time to evaluate the security.

So far, we haven’t heard anything negative regarding lost funds or hacks so in that sense we judge that it is safe to use, for now, if something comes up we will be sure to update this review.

Is PrimeXBT regulated?

PrimeXBT is a non-regulated bitcoin trading platform.

Support

Live Chat
Live Chat

Frequently asked questions

Read the most frequently asked questions about PrimeXBT. Find answers without searching the web.

It is a bitcoin-based multi-broker that offers advanced trading in cryptocurrencies, forex, stock indices, and commodities.

Since this a bitcoin-based platform you need to make a blockchain withdrawal of your coins. You can fund your account with fiat currencies but when you make a withdrawal it has to be BTC.

From what we can tell at the moment there have been no hacks or lost funds on the platform and therefore we consider it to be safe to use for the moment.

On PrimeXBT you don't have to change the leverage on your own, it is always pre-set to be the maximum possible, instead, you control your risk level with your position size. For example, if your account equity is 0.01BTC you will be able to open a position worth 1BTC with 100x leverage but you don't have to. You can use only 5x leverage and open a position of 0.05BTC.

PrimeXBT is not available in the United States and minor outlying islands.