9/10
Overall Rating
PrimeXBT

PrimeXBT Review

Overview

Trust/Reputation
9/10
Liquidity
9/10
Fees
9/10
Legal Structure
9/10
User Interface (UI)
9/10
Withdrawals
9/10
Customer Support
9/10

Prime XBT is a Bitcoin-based platform, offering leveraged trading on several digital assets including Bitcoin, Ethereum, Litecoin, and Ripple. The company was founded in 2018 and provides an average trading volume of $545,000,000. It offers services to clients by collaborating with more than 12 top-tier liquidity providers. Currently, it is providing service for more than 30 trading assets with 40+ employees with three branches.

Trust/Reputation

9/10

PrimeXBT offers trading opportunities for both beginners and professional traders. During our review, we found that St. Vincent and Grenadines regulate this company. Furthermore, the ASIC regulation is under process, and it will add value after getting the regulation altogether. 

To ensure security, this broker has taken several steps that are worth it to consider as a trustworthy broker.

  • 2FA (provided by Google Auth) to ensure account security.
  • Mandatory Bitcoin address whitelisting feature.
  • Cold storage of digital assets with Multisignature technology
  • Hardware security modules with a rating of FIPS PUB 140-2 Level 3 or higher
  • Full risk check after every order placement and execution
  • Encrypted SSL (https) to encrypt and secure our website's traffic.
  • All passwords are cryptographically hashed (using bcrypt with a cost factor of 12) while all other sensitive data is encrypted.
  • Cloudflare to mitigate potential distributed denial-of-service ("DDoS") attacks.
  • Regular tests and check-ups by our technical team.
  • On-going and IT security assessments are executed to keep up to date with new potential vulnerabilities.

Based on the security mentioned above protocols, we can say that this broker has enough in terms of the trust.

Liquidity

9/10

PrimeXBT provides service with access to top-tier liquidity and wide range of trading tools while maintaining security, liquidity, enabling a safe and efficient trading environment.

It offers a robust trading system for both beginners and professional traders. The entire infrastructure of the trading environment is designed to facilitate a high number of orders per second with ultra-fast order execution.

All trades on Prime XBT trading platform are executed at one of our Amazon AWS servers, which is connected with multiple liquidity providers to ensure low latency and smooth pricing on all available assets.

For active day traders’ quality of order execution and slippage is extremely important. In 2019 74.1% of clients market orders were executed at the requested quote, which is significantly higher compared to the industry average.

PrimeXBT quote

Fees

9/10

There are two types of fees: Trade fee and Overnight financing.

The trade fee is incurred each time when traders buy or sell assets on the market as per the below- mentioned rate:

  • 0.05% for Cryptocurrencies
  • 0.001% for Forex
  • 0.01% for Indices and Commodities

Furthermore, this broker charges an overnight fee, which is withheld from Trading account balance at 00:00 UTC, for any position that is carried into the new trading day.

Cryptocurrency

You can access global cryptocurrency markets in minutes, trading the most popular crypto-assets and tokens using the most robust tools online to generate profit and build revenue streams. Furthermore, you can develop cryptocurrency trading strategies professionally with its trading platform that has almost 50 technical indicators. Moreover, the execution speed for cryptocurrency trading is less than 7.12ms.

PrimeXBT provides industry-leading leverage trading ratios on cryptocurrencies of up to 1:100 for Bitcoin, Ethereum, XRP, EOS and Litecoin trading. Seamless crypto margin trading is available with the ability to go long and short on all crypto-assets, and to execute a range of order types including limit, market, one-cancels-the-other (OCO), stop market, stop loss and take profit.

A glimpse of crypto available assets are mentioned below:

PrimeXBT Cryptocurrency

User Interface (UI)

9/10

PrimeXBT is a Bitcoin-based platform for both beginner and professional traders where there are more than 30 assets with fully customizable leverage. During our review, we found that this trading platform maintained a standard that makes it competitive with other brokers.

PrimeXBT Trading Platform

PrimeXBT trading engine is specially designed to execute over 12,000 orders per second. Furthermore, it enables cross-margin trading and automatically performs full risk checks after every order. As the PrimeXBT aggregator provides feeds from multiple vendors, there is higher liquidity to ensure the price movement.

PrimeXBT Trading Platform

Other features of PrimeXBT trading platform is mentioned-below:

  • Customizable Platform Layout: This platform has a customizable workspace, which includes intuitive visualization of market data, and offers an extensive suite of trading tools and that is not all that you can't get.
  • Professional charts: You can place and manage orders and work directly from the integrated charts. Furthermore, you can use the comprehensive suite of drawing tools and over 50 technical indicators to analyze price trends.
  • Multiple order types: Prime XBT offers various order types available in the Order Form option to give you the necessary tools to execute your trading strategy.
  • Secure wallets: You can withdraw, deposit and store your assets in your secure wallet. All assets are securely held in our offline storage system to protect users against any possible risk or threat.

PrimeXBT Turbo Platform

The fastest and easiest way to multiply the bitcoin gain up to +90% in 30 seconds by simply predicting whether the chosen asset price will move higher or lower from its current rate. Furthermore, it is effortless to operate and open an account with it. 

Other creatures are mentioned- below:

  • Unique 24/7 trading: You can experience a unique way to make money online by trading Bitcoin, EUR/USD, Gold and over 30+ assets through this platform.
  • Free 1 BTC demo account: You can practice without any risk and test all platform features with a free virtual account
  • Start from just $1: You can start building your capital without the risk of losing a large amount of money

PrimeXBT Covesting

Traders can start their fund and earn success fees from profitable trades. It is something like a copy trading service for traders who have accounts in this broker. With this service, you can follow the beneficial trader's trading activity in your account and earn together.

Some features of this service are mentioned below:

  • You can create your fund or invest in others in a matter of minutes!
  • You can trade over 50+ instruments including Crypto, FX, Commodities, and more.
  • You can increase or withdraw your investments at any time.

Account Types

Account types of this broker are very straightforward. It ignores the diversification of account types and focuses on taking all of the available services from a single trading account.

PrimeXBT Standard Trading Account

Here is the list of services that this broker offers from its trading account:

  • Cryptocurrencies trading: It specializes in providing professional cryptocurrency margin trading with industry-leading leverage of up to 100x on all crypto-assets.
  • Forex trading: PrimeXBT offers the world’s most traded foreign currencies and the industry’s best tools to minimize risk and maximize profit. Therefore, you can access a full range of world-class forex currencies for trading like USD, JPY, GBP, EUR, and many more from a single trading account.
  • Indices trading: PrimeXBT offers CFDs for many of the world’s most popular stock indices, including the NASDAQ, SP500, and more.
  • Commodities trading: PrimeXBT offers CFD trading of various commodities, including natural gas, crude oil, gold, silver, and more.

Withdrawals

9/10

Clients Portfolio

Philip Guérette

This is one of a hell stable platform; until this moment, I did not encounter any bugs or problems while opening positions. I hope that they continue developing and keep the platform stable.

Dimas Sieben

PrimeXBT has the potential to become a tremendous player in the margin trading space. If they continue to add more innovative instruments they can truly break through the market and the competitors. Great design of the UI, very stable and responsive, very easy to use.

Johnnie Scrivener

Finally, I have found a platform that combines forex/crypto/commodities/stock indices for trading in one place. Multiple market options give more opportunity, a full selection of instruments for any situation. Well designed UI with a high execution speed of the orders. I fully recommend this platform

Social Media Presence

PrimeXBT is very active on their social media. They provide regular market updates and analysis on most of their social media platforms. Here is the list of social media platforms.

Linkedin link:  https://www.linkedin.com/company/primexbt 

Facebook link:  https://www.facebook.com/primexbt/ 

Twitter link:  https://twitter.com/primexbt 

Instagram link:  https://www.instagram.com/primexbt.official/ 

Telegram Handle:  https://t.me/primexbt 

Latest Company News

PrimeXBT is regular in its blog. It provides a weekly market outlook and market analysis that is very effective and profitable. Other latest company news is mentioned below.

Customer Support

9/10

There are 18 languages on the website that covers most of the crypto trading countries in the world. In the help section on this broker, there are a lot of frequently asked questions that cover most of the traders' requirements. 

Furthermore, the live chat function is a fast and secure way to contact them, which is open 24/7.

Conclusion

As per our findings, PrimeXBT is a unique broker that allows trading through cryptocurrencies.

The exciting feature of this broker is that you can trade cryptocurrency, Forex, Indices, commodities and other financial instruments through a single platform by Crypto investments. Therefore, this broker has the potential to grow soon with the engagement of people in the crypto industry. This broker is trying to expand their business activity, and the ASIC regulation, which is under process, would be a milestone for it.

Based on our analysis and findings, we found this broker as a unique and trustable company. However, before investing, you are requested to test the overall performance. The best option is to open a demo account and observe the price and get familiar with it.

Reviewed By

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