Prime XBT is a Bitcoin-based trading platform that was founded in 2018. The platform offers leveraged trading on several cryptocurrencies, including Bitcoin, Litecoin, Ethereum, and Ripple. Over the past two years, PrimeXBT has experienced massive growth and currently provides services to traders in over 150 countries across the globe. PrimeXBT is known in the cryptocurrency space as a provider of top-tier liquidity and numerous trading tools. They do this while maintaining excellent security, liquidity, and providing a safe and efficient trading environment for all levels of traders.
The main focus of PrimeXBT is to provide superior technology to make the cryptocurrency trading process easier for the users. Their robust trading system appeals to both beginners and professional traders as it grants them access to highly reliable market data and performance. The trading platforms here are designed to facilitate a high number of orders execution per second, ensuring fast order execution and low latency. All categories of traders can use the platform to easily design and customize layouts and widgets to suit their trading style. Overall, the tough security, access to leverage trading, highly reliable market data, and other features make PrimeXBT a good platform cryptocurrency traders.
Regulation and risk: Before opening an account, check which legal entity you would be contracting with and which regulator supervises it. Brokers serving EU and UK retail clients through an ESMA- or FCA-regulated entity must cap leverage at 30:1 on major currency pairs, offer negative balance protection and publish the share of retail accounts that lose money. Entities registered offshore or not regulated at all are not bound by these rules, and client money held there is not covered by EU or UK compensation schemes. Most retail accounts trading leveraged CFDs lose money, so only trade with money you can afford to lose.
Trading Platforms
PrimeXBT supports two major trading platforms on its website.
PrimeXBT platform
This proprietary trading platform belongs to PrimeXBT. The broker calls it the number one Bitcoin-based platform for active traders, one that lets people trade over 30 assets with leverage. Reliable and intuitive, the platform offers all the tools needed to execute and manage orders and to analyze market data. Inside the PrimeXBT platform sits a fully customizable workspace, along with multiple order types and professional charts carrying over 50 technical indicators for studying price trends. Secure wallets make it easy to deposit crypto assets and then store them in a secure personal wallet.
Turbo platform
This is the ultra-fast trading platform offered by PrimeXBT. The platform allows traders to earn up to 90% in under 30 seconds by just predicting whether the price of a given asset will surge or plummet from its current price. The platform has a demo account that allows traders to start with a free 1 BTC. As a crypto platform, it is available 24/7 and allows traders to trade Bitcoin, EUR/USD, Gold, and other financial instruments. Other features of the Turbo platform include interactive charts, responsive interface, instant deposits, and more.
Investment Products
PrimeXBT provides access to four financial markets. They are;
Cryptocurrencies
PrimeXBT’s primary investment products are cryptocurrencies. It allows people to trade Bitcoin, Ethereum, Litecoin, and Ripple against the U.S Dollar. Trading cryptocurrencies is highly speculative, and with PrimeXBT, traders enjoy deep liquidity, powerful trading tools, intuitive and user-friendly interface, and advanced charting tools.
Forex
In addition to cryptos, PrimeXBT provides users’ access to the leading forex currency pairs. Traders trade top currency pairs like the EUR/USD, GBP/USD, AUD/CAD, and AUD/CHF with leverage on PrimeXBT. The broker has one of the best-in-class trading platforms, and coupled with low trading fees; it is one of the best places to trade FX pairs.
Commodities
PrimeXBT is also home to some commodities. Traders can trade Gold, Brent, Crude, and Natural Gas, with leverages against the U.S Dollar. On PrimeXBT, users get fast access to the commodities markets and enjoy multiple profit opportunities. The features make it an excellent platform for beginners and experienced traders to access these assets.
Stock indices
PrimeXBT gives traders the opportunity to trade the leading stock indices, including the NASDAQ100, S&P 500, GER30, and HK-HIS. This broker offers quick access to global markets, along with fundamental and technical analysis, making it accessible and user-friendly for traders at every level.
Regulatory Stance
PrimeXBT is not a regulated broker at the moment. However, it has provided a wide range of security measures to ensure that the funds and personal data of their customers remain safe and secure at all times. The 2FA provided by Google Authenticator ensures that user accounts remain secure always. Other security measures include; encrypted SSL, mandatory Bitcoin address whitelisting features, hardware security modules, Cloudflare, and more.
Trading Tools and Resources
PrimeXBT offers users access to various trading tools and resources including;
- Trading indicators and charts
- 2FA and other security features
- Bitcoin address
- Trading leverages, and more.
Commissions and fees
This broker’s costs fall into two types of fees: trade fees and overnight financing. On PrimeXBT, cryptocurrency pairs carry a trading fee of 0.05%, along with a financing/day long fee of over 0.04% of the daily funding rate. Indices and commodities have a trading fee of 0.01%, and each of them carries a daily financing fee of over 0.02%. FX pairs come with a trading fee of 0.001%, the lowest among all the investment products. Their daily financing fee sits at over 0.003%.
Payment methods
The only acceptable payment method is via Bitcoin. Thus, making PrimeXBT a Bitcoin cryptocurrency exchange/brokerage. Their system affects the deposit and withdrawals and the ways traders source for funds to trade on the platform.
Customer service
PrimeXBT has one of the best customer services amongst Bitcoin-based brokers. As a broker that offers services in the cryptocurrency sector, PrimeXBT provides a 24/7 customer service to its clients. You can get in touch with the support team via email or live chat every day of the week and at all hours of the day. They also resolve issues in little to no time. PrimeXBT has an expansive FAQ section, where users can find quick answers to some of the random and popular questions about cryptocurrency and financial markets trading.
Account opening process
To open an account with PrimeXBT, follow these steps;
- Visit the PrimeXBT official website at https://primexbt.com/
- Navigate to the upper right hand of the platform and click on Register
- Insert the required details such as email, and password.
- Accept the terms and click on register
- You will receive an email confirmation link. Confirm your registration, and you are set to start trading on PrimeXBT.
