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PrimeXBT Review & Rating [yyyy]

PrimeXBT Review & Rating 2022

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Prime XBT is a Bitcoin-based platform, offering leveraged trading on several digital assets including Bitcoin, Ethereum, Litecoin, and Ripple. The services in PrimeXBT are provided by Prime Technology Ltd (Seychelles company nr. 217308) and Prime XBT Trading Services LLC (Saint Vincent and the Grenadines company nr. 222LLC2019)

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.

The services in PrimeXBT are provided by Prime Technology Ltd (Seychelles company nr. 217308) and Prime XBT Trading Services LLC (Saint Vincent and the Grenadines company nr. 222LLC2019). Furthermore, the ASIC regulation is under process, and it will add value after getting the ordinance altogether.

Some other services are provided by third-party companies, as mentioned on their website.

PrimeXBT Pros and Cons

Pros

  • Trade Forex, Cryptocurrencies, commodities etc through Bitcoin.
  • Copy Trading service to boost earning. 
  • 50+ instruments including Crypto, FX, Commodities and more.
  • Fair broker to disclose risks and uncertainties publicly.
  • Weekly market outlook and analysis provided in the PrimeXBT Blog.

Cons

  • St.Vincent and the Grenadines only regulate this broker.

How reliable is PrimeXBT?

PrimeXBT offers trading opportunities for both beginners and professional traders. During our review, we found that St. Vincent and Grenadines regulates 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 trust.

PrimeXBT regulation

The services in PrimeXBT are provided by Prime Technology Ltd (Seychelles company nr. 217308) and Prime XBT Trading Services LLC (Saint Vincent and the Grenadines company nr. 222LLC2019). Furthermore, the ASIC regulation is under process, and it will add value after getting the ordinance entirely.

PrimeXBT fees

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.

PrimeXBT products and offers

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

Review about PrimeXBT

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

PrimeXBT 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 

 

Overview

Company
8/10
Trust
8/10
Trading Platform
9/10
Account Types
9/10
Costs
9/10
Customer Support
9/10
Regulation
8/10
Cryptocurrency
9/10

Company

8 /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.

The services in PrimeXBT are provided by Prime Technology Ltd (Seychelles company nr. 217308) and Prime XBT Trading Services LLC (Saint Vincent and the Grenadines company nr. 222LLC2019). Furthermore, the ASIC regulation is under process, and it will add value after getting the ordinance altogether.

Some other services are provided by third-party companies, as mentioned on their website.

Pros and Cons

Pros

  • Trade Forex, Cryptocurrencies, commodities etc through Bitcoin.
  • Copy Trading service to boost earning. 
  • 50+ instruments including Crypto, FX, Commodities and more.
  • Fair broker to disclose risks and uncertainties publicly.
  • Weekly market outlook and analysis provided in the PrimeXBT Blog.

Cons

  • St.Vincent and the Grenadines only regulate this broker.

Trust

8 /10

PrimeXBT offers trading opportunities for both beginners and professional traders. During our review, we found that St. Vincent and Grenadines regulates 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 trust.

Account Types

9 /10

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.

Cryptocurrency

9 /10

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

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

Costs

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.

Regulation

8 /10

The services in PrimeXBT are provided by Prime Technology Ltd (Seychelles company nr. 217308) and Prime XBT Trading Services LLC (Saint Vincent and the Grenadines company nr. 222LLC2019). Furthermore, the ASIC regulation is under process, and it will add value after getting the ordinance entirely.

Reviewed By

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