Overview
Founded in 2018, PrimeXBT has, among other things, become an all-inclusive platform serving various markets like cryptocurrencies, forex, commodities, and indices around the globe. It is popular for having an optimized website, targeted to cater for every need of a user and hence provides a variation in trading.
- Founded
- 2018
Strengths and watchouts
- Low trading fees
- No minimum deposit
- Wide range of supported assets
- Advanced trading tools and charting features
- Covesting module for copy trading
- Strong security measures, including cold storage wallets and 2FA
- No mandatory KYC for trading
- Fast execution time
- 24/7 customer support
- Demo account to learn trading
- Unregulated platform
- Occasional issues with mobile app performance
- Limited fiat deposit options compared to some competitors
- Not available in Canada and USA
- No spot trading
Watchouts are not yet documented for this broker. Review fees, regulation and account terms before opening an account.
Safety and regulation
PrimeXBT's main issues concerning regulation are that the platform is unregulated despite it being used by traders who are already leery of it. However, extremely strict security measures are in place to safeguard the client's funds and data. Client funds are held completely secured in multisignature cold storage and protected against any unauthorized access. Furthermore, 2FA is set up, and an encrypted connection is secured.
- BCR
- FSA
- FSC
Between 70% and 85% of retail investor accounts lose money when trading CFDs with most regulated providers — the exact figure for any specific broker is published on that broker's own website. Consider whether you understand how these instruments work and whether you can afford the high risk of losing your money.
Markets available
- Forex
- Stocks
- Metals
- Indices
- Energy
- Cryptocurrency
- CFDs
Account types
| Account | Min deposit | Commission | Leverage |
|---|---|---|---|
| Standard | Not verified | 0.1 | 1:1 to 1:1000 |
| Premium | Not verified | 0.1 | 1:1 to 1:1000 |
| VIP | Not verified | 0.1 | 1:1 to 1:1000 |
Fees and costs
The platform very transparently levies for trades whose cost is such that cryptocurrencies make a flat 0.05%; however, those involved in currency and commodity trading and in diverse markets such as indices are charged from 0.01% per trade. The overnight financing rate relates to any positions that are generally held overnight. Particular rates are available on the site. The platform shall accept deposits through cryptocurrency in forms such as Bitcoin, Ethereum, USDT, and USDC. Normally it takes only a few minutes, but it usually depends on the different Bitcoin confirmation times. Usually, no withdrawal exceeds 24 hours. There are charges involved whenever a person makes a withdrawal, for instance, a blockchain network fee, depending on the kind of cryptocurrency being used.
How we reviewed this broker
Each broker review documents the broker's claimed regulators, cross-references them against the public registers (FCA, CySEC, ASIC, FSCA, BCC and others), and notes any divergence. Where a regulator has issued a public advisory, the URL is cited inline so a reader can verify it directly. Tradable instruments, account types, and fees are sourced from the broker's published disclosures or documented as unavailable. The full scoring methodology is public.
Read the full methodology →Focused research pages
- RegulationPrimeXBT regulation and safety checks
- Account openingPrimeXBT minimum deposit and account-opening checks
- Minimum depositPrimeXBT minimum deposit and funding threshold checks
- Company backgroundPrimeXBT company background and entity checks
- RatingPrimeXBT rating context and methodology checks
- SafetyPrimeXBT safety, funds protection and entity checks
- Pros and consPrimeXBT pros, cons and trade-off checks
- FeesPrimeXBT fees, minimum deposit and cost checks
- MarketsPrimeXBT markets and product availability checks
- Public reputationPrimeXBT public reviews and reputation checks
Frequently asked questions
Are there any licenses?
PrimeXBT does not operate under a regulated environment hence may infringe upon the principles held by various traders.
Who are the trading platforms intended for?
PrimeXBT offers its own in-house web-based trading platform and has made mobile apps meant for both Apple's iOS and Android platforms.
What is the minimum deposit that a trader needs to open an account?
The account opening requirement is to have deposited at least valued equivalent to 0.001 BTC in supported currencies.
What types of accounts does the broker offer?
It has a single account structure allowing access to all instruments, and it incorporates every feature.
Based on what is the payment of fees and commissions done?
The commission and fees applied differ on various frontiers. For example, the productivity costs in a transaction would be 0.05% in cryptocurrency, whereas those transacting in metals, other currencies, and in addition to being in diverse markets such as index. Moreover, ones having stocks are charged at 0.01% per trade. The overnight financing rate is also applicable.
What is the maximum leverage in use?
The leverage is set at 1:1000 for forex, 1:200 in cryptocurrencies, and 1:100 for indices and commodities.
Does the account have a demo?
PrimeXBT does not have a demo account, but instead, there is a Covesting module on its platform where traders can interact with and learn from professionals.
And how does customer support work?
The customer support option can be used by filling in forms that can be seen only on their website.