PrimeXBT broker provides services related to trading and cryptocurrencies. In addition to traditional accounts, the innovative offer also includes opportunities to invest in cryptocurrencies, use copy-trading and generate passive income. You can also take part in numerous trading competitions.
- What is worth knowing about the PrimeXBT broker?
- What are the details of the offer and commercial terms?
- What assets does it offer?
What is PrimeXBT?
The PrimeXBT company was founded in 2018, and it is currently serving clients in over 150 countries. The broker's offer is intended for both beginners and experienced traders, in addition, it includes numerous financial instruments: Forex, cryptocurrencies, commodities and stock indices.
PrimeXBT boasts prizes in the following categories: best Forex and Cryptocurrency Broker (awarded by Forex Awards), best Leveraged Trading Platform (ADVFN International Financial Awards) and best Cryptocurrency Trading App (Forex Awards).
Which regulatory authorities is PrimeXBT subject to?
Prime XBT Trading Services LLC is incorporated in St. Vincent and the Grenadines as a subsidiary of the PrimeXBT group. The company's registration number is 222LLC2019.
In its location, the company is not required to have a financial services license. Prime Technology Ltd is registered in the Seychelles under registration number 217308.
Contact details of the PrimeXBT broker
You can contact the broker at the following e-mail address: support@help.primexbt.com. Customer support is available 24 hours a day, 7 days a week.
After creating an account on the platform, you can additionally contact via chat, which is also available all the time. The company is also present on social media, such as Facebook, Twitter, Telegram.
Available platforms at PrimeXBT. Is it possible to trade on Metatrader 4 MT4 or MT5 at PrimeXBT?
These platforms are not available for PrimeXBT clients, the broker offers its own platform in a web version, which does not require downloading any software and is intended for both beginners and experienced traders, in addition, the platform enables the use of over 50 technical analysis indicators.
If you prefer to make transactions using a smartphone rather than a computer, there is also a version in the mobile application for iOS and Android.
What trading conditions does the PrimeXBT broker offer? Basic information
The broker offers financial instruments covering numerous assets including: Forex, cryptocurrencies, commodities and stock indices.
The offer includes about 50 currency pairs, over 40 cryptocurrency pairs, 11 indices and 5 raw materials. There are over 100 financial instruments in total that are available for trading.
The available leverage is a maximum of 1:50 for cryptocurrencies, for the remaining assets from 1: 100. The transaction fee is 0.05% for cryptocurrencies and 0.0001% for Forex and commodities.
For individual financial instruments, the specification is as follows:
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Cryptocurrencies
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Forex
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Raw Materials
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Indexes
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|---|
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Commission
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0,05%
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0,00%
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0,00%
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0,00%
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|---|
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Minimum trade size
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0.001 BTC, 100,000 SHIB 0.01 for all other cryptocurrencies
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100 units of currency
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Oil: 1 barrel, Natural gas: 1 MMBtu, Gold: 0.01 oz, Silver: 1 oz
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0,01
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|---|
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Maximum leverage
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01:50
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02:40
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002:40
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02:40
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|---|
The comparison of trading conditions for individual types of accounts is presented in the table below:
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Margin
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Copy-trading
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|---|
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Minimum deposit
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-
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0.01 BTC
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|---|
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Account balance
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BTC, ETH, USDT, USDC, COV
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BTC, ETH, USDT, USDC, COV
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|---|
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Assets available
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Cryptocurrencies: 41, FX: 50, CFD: 14
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Cryptocurrencies: 41, FX: 50, CFD: 14
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|---|
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Spreads
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From 0
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From 0
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|---|
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Maximum leverage
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0.1% (1: 1000)
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1% (1: 100)
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|---|
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Commission
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From 0.001%
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From 0.001%
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|---|
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Execution of orders
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Market
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Market
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|---|
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Speed of implementation
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Up to 20 ms
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Up to 20 ms
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|---|
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Types of orders
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Limit, Stop, OCO, Market
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Limit, Stop, OCO, Market
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|---|
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sale
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Promotion codes, account status
|
-
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|---|
| | | |
|---|
| | | |
|---|
Additional possibilities
- Covesting: the broker's offer includes a covesting module where you can copy the transactions of other traders. Covesting is the first platform to offer a copy trading service on the cryptocurrency market, it began operating in 2017. In 2019, a collaboration was established between Covesting and PrimeXBT to develop a module integrated with the broker platform. This module was launched in 2020 and is very popular among beginner investors. The Covesting module allows you to create your own strategy or follow the movements of selected traders. Each trader can have an additional source of income in the form of 20% of the profits of people who use his strategy. On the other hand, observers can choose a trader based on their past performance. Then, enter the amount of funds that you intend to allocate to the strategy. The last step is to click the "follow" button. From now on, we get the same rates of return as our chosen strategy. We can choose many traders with different strategies.
- Cryptocurrencies: the broker allows you to buy the most popular cryptocurrencies such as Bitcoin, Ethereum and many more with a bank transfer or payment card. Platform users can count on low fees and 24/7 customer service support.
- Passive income: the broker also allows you to earn by "staking" cryptocurrencies. In return for storing cryptocurrencies, you can receive passive income, as well as interest on a deposit.
PrimeXBT. Promotions and bonuses with a Forex broker.
The broker offers an affiliate program where clients can share a link on a website, blog or on social media and earn referral benefits. In addition, Prime XBT partners can earn additional earnings as part of the value of the transaction fees paid by the referred traders.
Competitions:
Clients can take part in PrimeXBT trading competitions. Competitions are run using virtual funds, but you can win real prizes including a monetary option where clients can win money that will top up their real trading account, however, they cannot be withdrawn directly, but can be used to trade as a margin or to cover transaction fees or losses.
Safe forex broker. Are there any online warnings about PrimeXBT?
There is no mention of the broker on the KNF website as well as a lack of any warnings on internet forums.
Reviews on PrimeXBT. Is it worth trading with PrimeXBT? Leave your opinion, comment!
You can find numerous opinions and comments on the web about the PrimeXBT broker. The vast majority of opinions are positive. On the website dedicated to Forex brokers, https://forexrev.pl/, the broker received 7.6 points out of 10. The broker also obtained a positive assessment on the website https://www.fxempire.com/ , where it received 4.7 stars out of 5 possible with 15 votes cast. If you want to share your opinion about the PrimeXBT broker, be sure to do so in the comment below this material. Comments are not deleted by the administration and are very good support for people who are wondering whether to open an account with this broker. Your comment can help as well as harm the broker, so try to formulate your opinions objectively.
PrimeXBT- investor education. Does PrimeXBT provide educational materials?
There is an extensive "Academy" section on the broker's website which contains numerous educational videos explaining issues related to trading, the operation of trading platforms and wallets, strategies and much more. There are also videos that are published with the participation of experts with comments on the current market situation. Investors are able to take part in courses, and in addition, there is also a blog with daily articles in a separate section. Educational content on the broker's website is of high substantive value. The Prime XBT website is run in 15 languages, including English, German, Spanish, French, Italian, Portuguese, Chinese, Japanese.
How to create an account at PrimeXBT?
If investors want to set up an account with this broker, they will need to complete the contact form in which you must provide your basic data, e-mail address, telephone number and create a password. After sending the registration form, it is necessary to verify e-mail addresses. Then it should be possible to log in to our account and gain access to the transaction platform. If investors live in a jurisdiction approved by the broker, they can start using PrimeXBT services after registering an account and depositing funds. Account verification will allow you to access additional benefits, including prizes such as a welcome bonus. In some situations, the broker may require a KYC procedure.
How to deposit and withdraw funds?
Currently, PrimeXBT supports deposits in BTC, ETH, USDT, USDC and COV cryptocurrencies. Investors can make a deposit from their personal cryptocurrency wallet or buy cryptocurrencies via a payment card (credit or debit) or SEPA bank transfer. There is no minimum deposit amount, it is only limited by the possibility of making a transaction. For withdrawals also there is no minimum amount specified, the maximum daily withdrawal amount is USD 20,000 or its equivalent in other currencies.
Security of funds
The platform is protected against DDOS attacks with Cloudflare. The broker company also uses the Amazon Web Services server to ensure maximum performance during periods of high activity, which avoids errors and downtime in the operation of the platform.
- Wallet security:
Along with the account, we receive a cryptocurrency wallet. Most bitcoins are stored in the "cold wallet" (offline) and only a small amount in the online wallet. The funds stored in the "cold wallet" are safe thanks to the multisignature technology. Transfers from "cold wallets" to online wallets are handled manually by PrimeXBT staff.
- Two-factor authentication (2FA):
Provides an extra layer of security to prevent unauthorized access to customer accounts. To use 2FA, you must download and install the Google Authenticator app. Prime XBT does not use the SMS authentication system.
- Bitcoin address whitelist
This solution is designed to provide additional security for clients' funds. Withdrawals can only be made to whitelisted wallet addresses. We add our external bitcoin wallets to this list. Only then will we be able to transfer our funds to them.
- SSL (Secured Socket Layer) encryption
The website and trading platform are protected from hackers thanks to SSL encryption. This service is provided by Amazon Web Services.
HIGH RISK INVESTMENT WARNING
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
