Global Broker governance & inquiry App

Score

0123456789
.
0123456789
0123456789
/10

Prime XBT

Seychelles|5-10 years|
Suspicious Regulatory License|Global Business|High potential risk|

https://primexbt.com/

Website

Rating Index

Influence

Influence

A

Influence index NO.1

United States 8.02

Surpassed 20.63% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

info@primexbt.com
https://primexbt.com/
Global Gateway 8, Rue de la Perle, Mahe, Seychelles
https://www.facebook.com/primexbt/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

More

Company Name

PrimeXBT Trading Services LLC

Company Abbreviation

Prime XBT

Platform registered country and region

Seychelles

Company website
Twitter
Facebook
YouTube

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away!
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Users who viewed Prime XBT also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

Exness

8.37
Score
10-15 yearsRegulated in CyprusMarket Making(MM)MT4/5 full license
Official website

AUS GLOBAL

7.54
Score
5-10 yearsRegulated in CyprusMarket Making(MM)MT4/5 full license
Official website

MultiBank Group

8.59
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

Prime XBT · Company Summary

Prime XBT Review Summary
Founded 2018
Registered Country/Region Seychelles
Regulation No Regulation
Market Instruments Cryptocurrencies, Forex, Indices, and Commodities
Demo Account Available (If you join one of their trading contests)
Trading Platforms Prime XBT platform
Minimum Deposit Free
Regional Restrictions Not available for residents from the following restricted jurisdictions: the United States of America, United States Minor Outlying Islands, Canada, Algeria, American Samoa, Cuba, Ecuador, Iran, Japan, Myanmar, North Korea, Russian Federation, Sudan, Syria, Saint Vincent, and The Grenadines
Customer Support Email: info@primexbt.com and support@help.primexbt.com
Telegram, Facebook, Instagram, Twitter, YouTube, Reddit, Wellfound, and Discord
Live Chat

What is Prime XBT?

Prime XBT, founded in 2018 and registered in Seychelles, is a broker that provides services in trading over 110 assets across various classes, such as Cryptocurrencies, Forex, Indices, and Commodities. It requires no minimum deposit. While Prime XBT claims to have over 1 million users, 152 countries served, and an average daily volume of over 1 billion, it operates without any regulation. Additionally, it doesn't accept users from some regions, including the USA, Canada, Cuba, Iran, and so on.

PRIME XBT's home page

Pros & Cons

Pros Cons
  • Diverse Market Instruments
  • No Regulation
  • Free Minimum Deposit
  • Regional Restrictions
  • Award-winning Trading Platform
  • Secure and Powerful Infrastructure Powered by Amazon AWS

Pros:

  • Diverse Market Instruments: Prime XBT has over 110 market instruments, including Cryptocurrencies, Forex, Indices, and Commodities, providing traders with various options for diversification.

  • Free Minimum Deposit: Prime XBT requires no minimum deposit to open an account. You can deposit any amount that would be sufficient to provide the required margin for your trades.

  • Award-winning Trading Platform: Prime XBT offers its trading platform that is supported both on mobile and desktop. It was awarded as Best Platform for Online Trading and Best Mobile Trading App.

  • Secure and Powerful Infrastructure Powered by Amazon AWS: All trades on the Prime XBT trading platform are executed at the Amazon AWS servers in London and Frankfurt, which provides a secure infrastructure for users.

Cons:

  • No Regulation: Operating without regulation heightens risks, exposing the platform to potential security vulnerabilities and diminishing transparency. And it will pose significant risks to your funds and trading experience.

  • Regional Restrictions: Prime XBT doesn't provide services to users from a wide range of regions, including the USA, Canada, Cuba, Iran, and so on.

Is Prime XBT Safe or Scam?

Prime XBT is committed to providing the highest level of security to its platform users. It conducts periodical stress tests and security audits to ensure compliance with the strictest security standards.

  • 2FA (provided by Google Auth.) to ensure account security and prevent any unauthorized access to the users account.

  • Encrypted SSL (https) to encrypt and secure our websites 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 the technical team.

  • On-going and IT security assessments are executed to keep up to date with new potential vulnerabilities.

However, we can not define Prime XBT as safe. As it has a biggest drawback, the lack of regulation, which indicates risks in trading safety.

No license

Market Instruments

Prime XBT supports over 110 trading instruments, across various types, including Cryptocurrencies, Forex, Indices, and Commodities.

Market Instruments

Cryptocurrencies: You can access the global cryptocurrency marketplace, and trade long and short positions on Bitcoin, Ethereum, EOS, Litecoin, and more. Additionally, you can also trade cryptocurrency futures with Prime XBT.

Forex: You can explore the worlds foreign exchange markets and trade some of the strongest and most recognizable currencies from countries like the US, UK, Australia, and Canada. The supported currency pairs include EUR/USD, GBP/USD, AUD/CHF, AUD/CAD, and more.

Indices: You can open long and short positions to profit from both rising and falling markets, and trade indices like the S&P 500, the NASDAQ 100, NIKKEI 225, ASX 200, and many more.

Commodities: You can trade the most popular commodities, such as Natural Gas, Crude Oil, Gold, and Silver, and access some of the Worlds most important and well-established markets. You can also benefit from the digital nature of commodity CFD trades.

Account Types

Prime XBT only offers one account to serve users. There is no deposit requirement to open an account, which allows users to take a closer look at Prime XBT before deciding whether to trade on it.

Additionally, Prime XBT doesn't provide demo accounts directly. If youd like to try Prime XBT with a demo account, consider joining one of their trading Contests. Upon joining a contest, you will be provided with a free pre-funded contest account. You can use it as a demo account.

Account Types

Leverage

The highest possible leverage is provided automatically upon opening a position, and you control it by choosing the position size.

For example: you have 0.01 BTC as a Trading account's Equity and you wish to trade BTC/USD. You can open a max position of 2 BTC. This will result in maximum margin utilization at 1:200 leverage and 0% of Available Margin will remain. But you are not required to open such a large position. You can, for example, open a 0.1 BTC position instead. In this case, you will be using only 10x leverage against your 0.01 BTC Equity, with more Available Margin left and less risk of position liquidation should the market move unfavorably. Similarly, if you opened a 0.5 BTC position it would amount to 50x leverage against your Equity, and so on.

Trading Platforms

Prime XBT provides an award-winning platform that is used by traders from around the world. To access it, you can download the iOS App or Android App. The web version of the platform is available on all browsers and does not require downloading any software.

Prime XBT

Prime XBT platform interface consists of 6 main sections:

6 main sections

Hub - participate in Contests, manage your Rewards and Promo codes sections, track your Referral network and partner in the Affiliate program, learn about the Academy, review the Market research blog, and connect with the Community;Main - make deposits, and withdrawals, keep track of your accounts activity and statistics. Quick access to Global Markets (margin) and Crypto Futures trading accounts, Covesting sections and Contests;Trade - access Global Markets (Margin trading) and Crypto Futures trading platforms, manage your accounts, monitor the market, place trades, and control your orders and positions;Buy Crypto - purchase cryptocurrencies using a Bank Card / SEPA transfers / Gift cards / Alternative Cryptocurrencies via third-party exchange services;Copy-trading - Covesting Strategy Management and Followings;Contests - the risk-free environment that allows traders to test their skills and compete with other participants to win real prizes.

Trading Tools

The two main trading tools available on Prime XBT are live price charts and copy trading.

The live price charts display live data on the price and changes of all the trading instruments, which helps users to have an overall grasp of the market conditiona conveniently.

live price charts

Copy trading is a form of investment that involves copying the trades of other traders. It allows you to automatically copy the traits that more experienced traders make, without having to analyze the market yourself.

Copy trading

Deposits & Withdrawals

For deposits, there are three methods supported. And Prime XBT does not charge any deposit fees.

  • Cryptocurrency: Prime XBT supports BTC, ETH, USDT, USDC, and COV deposits. The timeframes will vary for different currencies as well as blockchain congestion. BTC deposits require 3 block confirmations, which usually takes around 40 minutes on average. USDT and USDC TRC-20 tokens require 20 block confirmations, which usually takes around 1 minute.

  • Cash/Fiat: You can deposit USD directly to your Cash Wallets on Prime XBT from your personal AdvCash account or via Perfect Money. Cash/Fiat deposits from your AdvCash and Perfect Money account to your Prime XBT Wallets are instant. And the minimum deposit in this method is 10 USD.

  • Third-party service: you can use third-party service, such as Coinify (https://primexbt.com/my/home/buy/BTC), which allows you to buy BTC, ETH, USDT, and USDC using your bank card, SEPA bank transfer and have it transferred to your Prime XBT wallet.

For withdrawals, there is no minimum or maximum required withdrawal amount.

The withdrawal fee is a flat fee (i.e. the fee will remain the same regardless of the amount being withdrawn).

  • Crypto withdrawals: For BTC, the withdrawal fee is 0.0005 BTC. For ETH, USDT, USDC, and COV withdrawals, the fees vary depending on the network used.

  • For Advcash and Perfect Money withdrawals from the platform, the withdrawal fee is 5 USD.

  • It is not possible to withdraw to your bank account. You can however use third-party services that allow you to convert Crypto to other currencies.

Fees

For crypto, the fees are based on the maker-taker structure. Both the maker fee and taker fee are 0.05%. The fees for crypto futures are also based on the maker-taker structure. The maker fee is 0.01%, and the taker fee is 0.02%. Additionally, the trading fees for forex, commodities, and indices are generally 0%.

Market Instruments Trading Fees
Crypto Maker: 0.05%Taker: 0.05%
Crypto Futures Maker: 0.01 %Taker: 0.02%
Forex 0%
Commodities 0%
Indices 0%

Customer Service

The Prime XBT team is committed to providing 24/7 customer service. For all questions, security issues, product-related inquiries, and business proposals, you can reach it at support@help.primexbt.com. You can also send an email with the subject ‘Job application’ to info@primexbt.com with your CV if you're interested in joining the Prime XBT team. Additionally, you can learn about it through social media, such as Telegram, Facebook, Instagram, Twitter, YouTube, Reddit, Wellfound, and Discord. And there is also a live chat on their website.

Conclusion

In conclusion, Prime XBT has a lot of advantages, such as various trading instruments, free minimum deposits, a powerful trading platform, and multiple security measures. However, in consideration of the lack of regulation, we advise you to avoid trading with it and choose a well-regulated broker. Additionally, you need to check the regional restrictions if you decide to use this platform based the professional knowledge and experience.

Frequently Asked Questions (FAQs)

Q: Is Prime XBT regulated?

A: No, Prime XBT operates without any regulation.

Q: At Prime XBT, are there any regional restrictions for traders?

A: Yes, it is not available for residents from the following restricted jurisdictions: the United States of America, United States Minor Outlying Islands, Canada, Algeria, American Samoa, Cuba, Ecuador, Iran, Japan, Myanmar, North Korea, Russian Federation, Sudan, Syria, Saint Vincent, and The Grenadines.

Q: What financial instruments can I trade with Prime XBT?

A: Prime XBT offers over 110 trading instruments, including Cryptocurrencies, Forex, Indices, and Commodities

Q: What is the minimum deposit to open an account on Prime XBT?

A: There is no minimum deposit requirement to open an account.

Q: Does Prime XBT offer demo accounts?

A: Upon joining a trading contest on Prime XBT, you will be provided with a free pre-funded contest account. You can use it as a demo account.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

News

WikiFX Reviews: PrimeXBT

ExposureWikiFX Reviews: PrimeXBT

2023-04-07 17:09

In today’s article, WikiFX will explore PrimeXBT in depth, examining its features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service, to help you make an informed decision on whether or not to use this platform.

WikiFX
2023-04-07 17:09
Exposure
WikiFX Reviews: PrimeXBT
PrimeXBT Allows You to Leverage Trade Popular DeFi and Metaverse Tokens

NewsPrimeXBT Allows You to Leverage Trade Popular DeFi and Metaverse Tokens

2022-07-01 13:32

These blockchain and cryptocurrency-based protocols allow much more futuristic or financial-focused technologies, such as lending and borrowing, as well as virtual reality worlds with digital real estate and individual token economies.

WikiFX
2022-07-01 13:32
News
PrimeXBT Allows You to Leverage Trade Popular DeFi and Metaverse Tokens
1 Minute to Know PrimeXBT Before Trading

News1 Minute to Know PrimeXBT Before Trading

2022-05-23 15:37

PrimeXBT is a cryptocurrency and forex broker providing leveraged trading to clients across the world. This review covers the services provided by PrimeXBT, including its trading platforms, crypto predictions, mobile app and supported countries. We will also detail the deposit and withdrawal options, promotional bonuses, fees and KYC verification systems.

WikiFX
2022-05-23 15:37
News
1 Minute to Know PrimeXBT Before Trading

User Reviews

Sort by content

  • Sort by content
  • Sort by time

User comment

13

Comments

Write a review

Cristobal R.
0-3months
The best crypto exchange I have ever used for trading cryptocurrencies. I recommend it!👍
2024-03-27 07:09
Reply
0
0
Rodrigo Medina
0-3months
I ain't expected something that I gots with primexbt, for real! Thought crypto futures trading wasn't for me, but it was a reeeeeal misconfusion. I acts neatly, preliminary weighing all risks.
2024-03-14 23:25
Reply
0
0
Luiz Padrao
0-3months
A very good crypto trading and exchange company. seems a little complicated tho.
2024-03-08 16:11
Reply
0
0
Mohd2627
0-3months
In my opinion PrimeXBT ranks quite high among brokers providing such a wide range of services. This company and its platform have those characteristics that I am ready to evaluate highly. I see that company strives for a high level of service and I like this aspiration. That is why I remain a customer of this broker.
2024-02-29 20:39
Reply
0
0
Yunus Emre
0-3months
I don't have much of a problem with this exchange, but the leverage limits can be high, those who will trade should adjust the leverage carefully :)
2024-02-27 14:32
Reply
0
0
Mujdat Osman
0-3months
A beautiful platform in every sense. Let's start with crypto, whoever wants the amount can make transactions. One of the nice things is that you can trade with up to 100x leverage. Another beauty is that you can easily diversify your portfolio; you can easily create a rich portfolio with known assets such as foreign currency, indices and commodities. The concept is good, putting it into practice is even better.
2024-02-23 16:10
Reply
0
2
Jerrold Greco
0-3months
There's a lot to do on this platform. You can trade both conventional trading assets and some unique like crypto futures, which are dicey on the one hand but full of opportunities on the other.
2024-02-16 02:53
Reply
0
0
Cesar Gil
0-3months
Multiple crypto wallets built into platform is a nice advantage of this broker.
2024-02-10 15:20
Reply
0
1
Somporn Charoen
0-3months
I could not help but notice there are so many things to do on this platform and they all work well. I used to only trade forex but thanks to the platform I got my hands on cryptos and copytrading :D
2024-02-08 23:31
Reply
0
1
FX1225355498
more than one year
My account was blocked for no reason and I was asked to submit the relevant documents which I did. Until today I am yet to receive any response from Prime XBT. My money is also blocked on it. I need it for my child. This is so unfair!!
2023-02-20 13:54
Reply
0
0
FX1211224704
more than one year
Well, I think Prime XBT’s copy trading is just amazing, truly. I made some profits on my forex trading and stock trading through copy trading. It was easy! Account managers also taught me patiently. Everything is so perfect.
2023-02-16 17:35
Reply
0
0
自明诚
more than one year
Well, I think Prime XBT’s copy trading is just amazing, truly. I made some profits on my forex trading and stock trading through copy trading. It was easy! Account managers also taught me patiently. Everything is so perfect.
2023-02-16 17:32
Reply
0
0
秋無痕
more than one year
Can't withdraw. I have made numerous requests for withdrawals and callbacks and because I would not deposit more capital as they requested, they have not responded till now.
2022-12-07 16:21
Reply
0
0
TOP
Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com