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PrimeXBT review and ratings

Established 2018
Location Saint Vincent and the Grenadines
Regulation None
Offices Mahe
Broker type STP
Leverage up to 1:1000
Deposit from 0.0001 BTC
Spreads low  low
Platforms Web Specific
Instruments Currencies Crypto Indices Metals Energies
Funding methods Credit Cards Bitcoin

Company information

PrimeXBT is a legally registered forex broker located in the Saint Vincent and the Grenadines, but not regulated by any government agency.

Availability

PrimeXBT accepts clients from all over the world, excluding some countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

18+ Currency Pairs Based on major and minor world currencies.
5 Crypto Pairs Based on Bitcoin, Ethereum, Litecoin, Ripple, EOS.
7 Indice CFDs Based on baskets of different blue-chip stocks.
2 Metal Spot CFDs Based on Gold and Silver.
3 Energy Spot CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.

Comprehensive review

PrimeXBT is a bitcoin-based forex & CFD brokerage company registered in the two offshore havens Saint Vincent and the Grenadines (SVG) and the Seychelles, both of which generally do not regulate forex brokers. As a result, brokers there are free to offer pretty much whatever trading conditions they want, including high trading leverage. In PrimeXBT’s case, trading leverage of up to 1:1,000 is available on the most liquid assets.

Being a bitcoin-based broker in this case means that all trading accounts are denominated in bitcoin, and that any fees charged by the broker are also charged in bitcoin.

The trading instruments that are available from PrimeXBT first and foremost includes a range of cryptocurrencies that can be traded with leverage of up to 1:100. Such high leverage on cryptocurrencies is uncommon among forex & CFD brokers, and this offering is therefore quite unique in the industry.

Unlike many other CFD brokers that offer crypto trading, PrimeXBT also offers trading in these assets 24/7, in line with the underlying cryptocurrency market.

In addition to cryptocurrencies, PrimeXBT also offers trading in a selection of the most popular forex pairs (fiat pairs), as well as CFDs on a handful of stock indices and commodities.

Besides the very high leverage on cryptocurrencies, the innovative web-based trading platform is what really makes PrimeXBT stand out from other crypto CFD brokers. The platform is designed around a highly dynamic chart which is easy to work with for even the most advanced chartists, while still allowing beginners to quickly learn how to use it.

The platform further features a large range of technical trading indicators that can be applied to the charts, and a very easy-to-use order management system that allows for lightning-fast order placement.

PrimeXBT has a very simple fee structure with fixed fees for all trades, regardless of the account types that other brokers use to categorize their clients into. As of this writing, the trading fees with PrimeXBT are as follows:
– 0.05% for cryptocurrencies
– 0.001% for forex
– 0.01% for stock indices and commodities

As a bitcoin-based broker, PrimeXBT currently only accepts deposits and withdrawals in bitcoin. Users who do not have bitcoin must first buy it from a third-party and then have it transferred to their bitcoin wallet at PrimeXBT. Other payment methods, such as PayPal and bank wire transfers, are not accepted. Also, keep in mind that PrimeXBT charges a withdrawal fee of 0.0005 BTC regardless of the amount that is being withdrawn.

In terms of customer service, it should first be mentioned that PrimeXBT has a very extensive FAQ section on its website that goes into great detail on most issues and questions that users will have. However, it is still possible to contact the broker directly with any issues that are not addressed on the website. For this, the support team is available 24 hours a day, 7 days a week via live chat and email.

All in all, we believe PrimeXBT has a strong offering, particularly for those who are interested in trading crypto with high leverage. 1:100 leverage on cryptocurrency CFDs is almost unheard of in the industry, and means that it is possible to reap great profits (and losses), even with just a small amount of capital. In conclusion, we therefore strongly recommend PrimeXBT for cryptocurrency fans who wants high leverage and an intuitive trading platform.

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