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PrimeXBT Review: All-In-One Trading Platform
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Table of Contents
There are many crypto trading platforms on the market for beginners with familiar features and plenty of tutorials like Binance. Or for more experienced traders, with advanced derivatives trading features like Bybit. However, does your trading include but not be limited to crypto? And you don’t want to flit between platforms and have an all-in-one trading solution?
Then it is definitely worth taking a look at the PrimeXBT trading platform, which offers its users not only crypto trading, but also Indices, Commodities, and Forex, among the tools not only basic crypto buying but also Futures and CFDs.
Let’s take a closer look at all the features of PrimeXBT, including a strong focus on performance and security, quality and user-friendly design, and more, which will help you relate this to your key criteria for choosing the most suitable trading platform and making an informed choice.
What is PrimeXBT?
PrimeXBT was founded in 2018 and is registered by Seychelles, but in addition to the FSA, it also holds FSCA, BCR, and FSC licenses. PrimeXBT has quickly gained popularity due to its large focus on performance and security, with 1+ million users worldwide, and periodically reached 24H trading volumes greater than $1B, with the average not exceeding ~$300M. However, it is worth noting that over the past few months, perhaps in the context of the new pro-crypto administration in the United States – PrimeXBT has been showing 24H trading volumes of ~$400M, sometimes even exceeding ~$600M.
However, PrimeXBT does not provide services in the US, nor does it do so in the UK and EU, which it explicitly warns against and states that any contrary claims from third-party sources are false.
PrimeXBT trading pairs are not very diverse, with just 43 pairs, which is not a lot compared to many other crypto trading platforms. However, as we mentioned above, its big advantage is that it offers the ability to trade assets such as Indices, Commodities, and Forex, and among the available instruments besides Futures with leverage are CFDs.
Also distinctive is the great focus on technical security and legal safety of PrimeXBT, which they describe very cleanly and comprehensively. Another distinctive feature is that the whole PrimeXBT platform has a very high-quality and user-friendly design, which does not copy popular solutions like Binance, but has its own style.
PrimeXBT Registration and KYC Procedures
PrimeXBT registration involves just a few standard steps familiar to anyone who has ever registered on crypto trading platforms before.
Go to the official PrimeXBT website using our link to get more benefits. You will see a registration form where PrimeXBT offers several ways to authorize, such as iCloud, Gmail, or entering your email/mobile number. Also make up a complex and unique password, because the security of your funds depends on it. After confirming the data, enter the verification code that came to your email/mobile number.
Done. You have a brand new PrimeXBT account. However, it’s worth familiarizing yourself with the different types of accounts, and their features.
- Standard Account: Provides access to all markets and trading instruments with competitive commissions.
- Premium account: Offers additional features such as lower commissions, higher leverage, and priority support.
- VIP Account: Designed for traders with high trading volume, offers the lowest commissions and exclusive benefits.
- Demo Account: Allows new traders to practice and familiarize themselves with the platform without risking real money.
- Account Upgrade: Ability to upgrade account levels based on trading volume and activity.
PrimeXBT Deposit Bonus
PrimeXBT’s welcome bonus is an enticing offer designed to give new users an extra boost as they enter the world of crypto trading. Upon registering and depositing, traders become eligible for the 20% deposit welcome bonus, which provides them with additional capital to trade with. You can claim this bonus today by signing up with our link.
This bonus serves as a valuable opportunity for traders to explore the platform, test different strategies, and get a feel for the exciting world of cryptocurrency trading without risking their own funds. It offers a chance to experience the platform’s advanced features, user-friendly interface, and extensive trading options while potentially enhancing trading performance.
PrimeXBT KYC Process
If you are wondering if you can trade on PrimeXBT without KYC? The answer is unequivocally no. Unlike many other trading platforms where you can start trading small amounts immediately after registration – completing the KYC process is mandatory for all PrimeXBT users before they can start trading because it helps the platform to ensure compliance with regulatory requirements and maintain a secure trading environment.
To complete the PrimeXBT KYC, select the account icon in the corner and then select Verify.
You will then be offered a two-step verification process. The first step is to scan your face and the second one is to send your identification documents. You have options to make this process via Web or Mobile App.
Choose the option that suits you best, and follow the instructions for the facial scan, which will happen in real-time. After that, submit your ID scans, which will take the PrimeXBT team some time to verify.
If verification is successful, you will receive a notification to your contact email address and you will immediately notice a change in the status of your account on the platform. After that, you can use all PrimeXBT services and tools.
PrimeXBT User Interface and Design
Let’s take a look at PrimeXBT’s design in a bit more detail because it deserves it. While comparing PrimeXBT vs Binance looks different and doesn’t adopt its well-established design solutions – PrimeXBT has its own style, and it’s worth noting that it looks fresh, high-quality, and remains intuitive and convenient.
At the top, are the main categories like PrimeXBT Products, Tools, Learn & Research, Promotions, About, and Partners.
On the top right, you’ll find an icon to Support, Language, and your Account. On the bottom right you will immediately see PrimeXBT 24/7 Multilanguage Live Chat for quick questions if you don’t need full and detailed assistance.
In the center, you will find official links to several ways to download the PrimeXBT app on iOS or Android. Also, there they make you familiar with the latest promos and events.
As you make your way down, PrimeXBT makes you familiar with its core features and the main details about Crypto, Indices, Commodities, and Forex options.
Also, they provide you with customer reviews to create credibility.
At the end of the home page, you can see detailed subcategories with information about all PrimeXBT features, support, announcements, terms and conditions, and more. Also, since you’ve already noticed how PrimeXBT is about safety and security, they have a separate section where they explicitly highlight in which jurisdictions they provide features and have restrictions.
PrimeXBT Main Features
Let’s turn to the main features of the PrimeXBT that make it stand out among its competitors.
PrimeXBT Buy Crypto
To do this, you need to select the desired currencies and cryptocurrencies in the appropriate fields, then choose a payment method like Visa, MasterCard, Perfect Money, Volet, and additional local payment systems in Thailand, Vietnam, and Brazil.
Then confirm the payment following your provider’s instructions. After the funds are credited, a notification will be sent to your PrimeXBT and the corresponding amount will appear in Funding.
PrimeXBT Crypto Futures
Of course, you have access to Crypto Futures with 43 pairs. The distinctive feature of PrimeXBT margin trading is that they offer Adjustable leverage to carefully adjust your strategy and Isolated Margin, which helps to reduce risk.
Here, as for the other functions, you will find a familiar interface with a chart and tools for market dynamics in the center, available pairs and data about them on the right, and tabs with positions, order types, statistics, and more at the bottom.
Remember that trading with leverage remains high risk, and you need to be prepared for losses if your analytics and forecasts are wrong.
PrimeXBT Forex & CFDs
PrimeXBT has a distinctive feature that you won’t find on every crypto exchange. Platform offers you 100+ CFDs.
- Cryptocurrencies like BTC, ETH, LTC, etc.
- Forex likes GBP/USD, EUR/CHF, and USD/SGD.
- Indices like S&P 500, NASDAQ, etc.
- Commodities like Gold, Silver, Oil, etc.
PrimeXBT Copy Trading
PrimeXBT focuses heavily on Copy Trading opportunities and provides detailed statistics on the successful strategies of top traders, their rankings, and how to build your own strategy to join this list.
Remember that any successful strategies are made by ordinary people who can also make mistakes and there are no guarantees that their strategies are not always correct.
Learn the top strategies and the ways and insides how to build them from our experts.
PrimeXBT Price Charts & Graphs
It is also worth noting that PrimeXBT is integrated with TradingView so that the tools for market analysis are as up-to-date and reliable as possible. Therefore, the Charts for simple market and price checks and Graphs for analyzing trading strategies are accurate and advanced.
PrimeXBT Currency Converter
Also from the small but nice tools here, a converter that operates data in real-time, and provides you the most accurate ratio possible.
PrimeXBT Economy Calendar
Another distinctive nice-to-have tool is the PrimeXBT Economy Calendar, which aggregates and highlights key events in the economy and markets, allowing you to keep around the data you need to build trading strategies.
PrimeXBT Learn & Research
PrimeXBT for beginners can also be a great platform because it provides a lot of quality training materials, ranging from analytical articles to guides on trading and various assets. These can also be extremely useful for any trader, especially newcomers.
PrimeXBT Promotions
It is also worth noting PrimeXBT’s constant promos and rewards for activity on the platform, successful trading, and many other activities.
However, it’s important to note that bonus funds cannot be withdrawn until specific trading conditions are met. Traders are advised to carefully review the terms and conditions associated with the welcome bonus to fully understand its requirements and maximize its potential benefits.
PrimeXBT Contests, too, offer plenty of opportunities for profitable interaction with the platform and other users.
On top of that, PrimeXBT Affiliate offers you benefits if you invite other people, and goes even further giving you benefits if they do too.
PrimeXBT Mobile App
With PrimeXTB, you can trade on the go using the PrimeXBT mobile app, which is currently available for free on the Google Play store & Apple AppStore. This app allows users to carry out a wide range of activities including:
- Trading over 100+ instruments across all asset classes including Crypto, Indices, Commodities, and Forex.
- Carry out technical analysis using various inbuilt chart tools with actual data from TradingView Integration.
- Having all other PrimeXTB functionality on the go with its easy-to-use interface.
But remember that you need to download applications only from the official site PrimeXTB. Otherwise, you risk falling into the scheme of fraudsters, who will be able to steal your funds after receiving your credentials.
PrimeXBT Deposit Options
When it comes to funding your PrimeXBT account, there are several options PrimeXBT provides a wide range of deposit options to ensure accessibility and convenience for its users.
One of them we have already mentioned is Fiat using Buy Crypto. Of course, you can also access Crypto Deposits, but it is worth noting that there are only 4 options to choose from, namely BTC, ETH, USDC, and USDT.
1. Navigate to the Deposit Section, and select Direct Crypto Deposits.
2. Select the cryptocurrency you wish to deposit. Copy the Deposit Address or scan the QR code into your crypto wallet.
3. Check that the selected coin and network match, and complete the transfer from your wallet.
4. Then you will similarly receive a notification about the crediting of funds, and the replenished balance on your Funding Wallet.
Remember that the selected cryptocurrency and blockchain network must always match. Otherwise, you risk irrevocably losing funds during the transfer.
PrimeXBT Withdrawal Process
PrimeXBT offers a seamless and efficient withdrawal process, allowing users to access their funds conveniently. Similar to the deposit options, PrimeXBT supports multiple withdrawal methods to cater to the diverse needs of its users.
For users who initially funded their accounts with cryptocurrencies such as BTC, ETH, USDC, USDT, or other supported digital assets, withdrawals can be processed in the same cryptocurrencies. This means that users can easily transfer their crypto holdings from their PrimeXBT account to their personal wallets or other platforms.
1. Navigate Withdrawal Selection and choose the ‘Withdraw’ option for your chosen cryptocurrency.
2. Select your Wallet and network, then enter your withdrawal address and the amount.
3. Confirm all details are correct and click ‘Submit to Withdraw’.
4. Verify the withdrawal through the link sent to your email inbox.
In addition, PrimeXBT understands the importance of providing flexibility for users who prefer traditional fiat currencies. Therefore, the platform allows users to withdraw their funds in USD and EUR. Each fiat withdrawal method has a few different steps, but the main ones are the same.
1. Choose the payment method as your withdrawal option.
2. Enter or select your bank account or local payment details. For new details, you may need to add and confirm this information following on-screen instructions.
3. Specify the amount and currency you wish to withdraw via your payment method.
4. After ensuring all information is accurate, submit your withdrawal request.
5. Then, confirm the withdrawal via the email PrimeXBT sends to your inbox.
It’s worth mentioning that specific withdrawal limits and fees may apply, depending on the chosen withdrawal method and the user’s account verification level.
PrimeXBT Fees and Features
When it comes to fees, the PrimeXBT cryptocurrency exchange offers its users one of the most competitive in the industry.
PrimeXBT Crypto Futures Fees
The maker fee is always 0.01%, while the Taker fee differs depending on monthly trading volume and chosen crypto.
- <$5,000,000 monthly volume – 0.045% Taker fee
- ≥$5,000,000 monthly volume – 0.035% Taker fee
- ≥$20,000,000 monthly volume – 0.02% Taker fee
PrimeXBT Deposits & Withdrawals Fees
- Minimum deposit is $1
- Deposit fee 0
- The withdrawal fee depends on the vendor or blockchain you will choose
- CFDs
PrimeBXT CFDs Fees
- Fees here are also highly competitive, while the trading fee is 0 for all CFDs.
- Spreads – The price difference between Bid and Ask from 0.1%
- Trading fee 0
PrimeXBT also charges overnight finance fees for holding a position open overnight, but this varies from trading pair to pair.
Remember that fees can change and this can directly affect your profit while trading. Therefore, we highly recommend that you regularly visit the official PrimeXBT Fees for the Futures and CFDs and follow the updates.
PrimeXBT Security Features and Safety Measures
PrimeXBT takes its clients’ security very seriously, and even most importantly provides clear details about it. They provide a whole separate section where they explain in detail what technical and legal measures they take to make the platform sustainable in all aspects.
PrimeXBT Security
PrimeXBT uses decent technologies to securely store assets, mostly on cold wallets, creating multi-layered decentralized security.
- Hardware security modules (HSMs) rated FIPS PUB 140-2 Level 3 or higher
- Geographically distributed HSMs at secure data centers around the world
- Cold storage of digital assets with Multisignature technology
Protection of user accounts is also at a good level and uses several methods simultaneously to help avoid hacking, fraud, or user’s careless actions.
- Two-factor authentication (2FA) to prevent unauthorized access to your account
- Withdrawal address whitelisting to protect against unauthorized withdrawals
- Cryptographically hashed passwords and encryption of all personal information
Also noteworthy is the data in transit and what measures they take to ensure stable, smooth, and secure trading.
- All website traffic is encrypted with a Secure Sockets Layer (SSL)
- Mitigation of potential Distributed Denial of Service (DDoS) attacks via Cloudflare
- Continuous IT security assessments to identify and fix new issues
Another important aspect is that PrimeXBT is a Member of the Financial Commission. This imposes certain requirements on them, and as they share “we’re able to offer you and all our clients an extra layer of security. This is in addition to our existing high levels of safety, including using the latest security protocols to protect client funds and data. Compensation fund: $20.000 per complaint.”
PrimeXBT Safety
Is PrimeXBT legit? They devote a similar section to regulatory compliance. Moreover, it’s important to note that they don’t just declare this compliance, but provide specific licenses with identifiers and links, which not everyone does even if they have them.
- PXBT Trading Ltd ("PXBT") is a licensed Securities Dealer in Seychelles under License No. SD162.
- PrimeXBT is a brand and product created, owned, and managed by Stack Advisory (PTY) LTD, an authorized financial services provider in South Africa. Stack Advisory (PTY) LTD, a company registered in South Africa, with registration No. 2013/099697/07.
- PrimeXBT Trading Services, S.A. de C.V. holds a Bitcoin Services Provider (BSP) license issued by the Banco Central de Reserva (BCR), with registration number 66d10393e8a00a3181b8e457.
- PXBT Capital Ltd is incorporated in Mauritius and is authorized and regulated as an Investment Dealer by the Financial Services Commission of Mauritius, under License No. GB24203383.
Having said that, PrimeXBT explicitly states that there are some Restricted and Semi-Restricted jurisdictions, and any claims of changes to this other than on their site – are untrue. Always check for updates to these lists to stay up to date with legalities.
- United States: Regulatory restrictions in various states limit the availability of PrimeXBT’s services.
- Canada: Stringent regulations on cryptocurrency trading restrict PrimeXBT’s operations.
- China: Strict laws on cryptocurrency trading and exchanges prevent PrimeXBT from operating.
- India: Regulatory uncertainties and restrictions on cryptocurrency trading impact PrimeXBT’s availability.
- Japan: Regulatory requirements for cryptocurrency exchanges limit PrimeXBT’s operations.
- South Korea: Regulatory frameworks for cryptocurrency trading restrict PrimeXBT’s services.
- Australia: Compliance with local regulations limits PrimeXBT’s operations.
- European Union: Certain countries within the EU have specific regulations impacting PrimeXBT.
- Middle East: Various countries in the Middle East have restrictive regulations on cryptocurrency trading.
- Africa: Regulatory challenges in certain African countries limit PrimeXBT’s availability.
Same way as it was with the fees – this list can change. Therefore, we highly recommend that you regularly visit the official PrimeXBT page and follow the updates to ensure that you are legally covered.
Is PrimeXBT Available In The United States?
PrimeXBT is not available to US traders as the company continues to shy away from U.S. regulations that would limit or control how it does its business. The same applies to the UK and EU, especially in the context of the recent tightening of regulations in these jurisdictions. However, the company is actively working to enter these markets in the future.
Still, other crypto exchanges demonstrate their compliance with regulators such as Canada, the USA, etc. If you or your trading is necessarily accountable, and you need no less than high-quality, profitable, and convenient crypto platforms that are operating in these jurisdictions and have the appropriate licenses – we advise you to consider WEEX, as this is one of their key advantages. Get the comprehensive review about WEEX features, pros and cons.
PrimeXBT Customer Support
PrimeXBT customer support desk operates 24/7 providing help and assistance to anyone. The multilanguage support team is very knowledgeable about the various features and issues that might arise from using the platform. Although it might take several hours before you can get replied through an email, there are various other communication channels such as Live Chat for resolving quick issues.
Conclusion
We can conclude that PrimeXBT stands out from other trading platforms primarily because of its all-in-one approach, and goes even further by offering very favorable terms for features that are already quite exclusive.
They also have a clear focus on the security, safety, and sustainability of their platform, showing all the details about it. With so many different features, PrimeXBT doesn’t feel cluttered, and the design of the platform not only looks fresh but is also user-friendly.
However, if we compare PrimeXBT solely in the context of crypto, it goes without saying that the clear competitive advantage is with platforms such as Binance – the industry standard, the abundance of integrations and coin selection, the huge liquidity due to the huge user base, and the multitude of tutorials for traders of all levels. Bybit also has a competitive advantage with their equally strong technical solutions, integrations and advanced derivatives, and wider coin selection. BloFin with its noteworthy coin selection, rapid platform development, and advanced trading features. And other, objectively larger players.
However, when a platform makes such a strong and even more distinct focus on such fundamental things as security, safety, and sustainability, while already having exclusive features – then it may have a good chance to catch up and, in some places, overtake the above-mentioned competitors.
Frequently Asked Questions
No, PrimeXBT does not operate in the US.
No, PrimeXBT does not operate in the EU.
No. KYC is mandatory for all PrimeXBT users for all trades.
Yes, very. PrimeXBT has multiple and varied measures in place to ensure this.
Exclusive CFDs Indices, Commodities, and Forex trading features
4.0
- Wide range of CFDs
- Strong multi-layer security
- Licensed operations
- Competitive fees
- Various bonuses and awards
- Modern, user-friendly interface
- Only 43 crypto pairs
- KYC required for all trades
- Not available in the US, UK, EU, or Canada
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