PrimeXBT review and ratings

Established 2018
Location South Africa Mauritius Seychelles
Regulation FSCA, FSC, FSA
Offices Gordons Bay, Ebene, 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 Softs Stocks
Funding methods Wire Transfer Credit Cards Bitcoin Ethereum Tether Google Pay Apple Pay

Company information

PrimeXBT group includes 3 related companies.

PrimeXBT SA - located in South Africa, regulated by the Financial Sector Conduct Authority (FSCA).
PrimeXBT MU - located in Mauritius, regulated by the Financial Services Commission (FSC).
PrimeXBT SEY - located in the Seychelles, regulated by the Seychelles Financial Services Authority (FSA).

Availability

PrimeXBT accepts clients from all over the world, excluding USA, Canada, Iran, North Korea, Russia and and some more countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for FX trading.

100+ Currency Pairs Based on major and minor world currencies.
40+ Crypto Pairs Based on various prominent coins and tokens.
19 Indice CFDs Based on baskets of different blue-chip stocks.
7 Metal Spot CFDs Based on Gold, Silver, Aluminium, Copper, Lead, Nickel, Zinc.
4 Energy Spot CFDs Based on Crude Oil (WTI, Brent), Gasoil and Natural Gas.
8 Soft CFDs Based on Cocoa, US Cocoa, Coffee Arabica, Coffee Robusta, Cotton, Orange Juice, Sugar Raw, Sugar White.
10+ Stock CFDs Based on shares of top-rated US companies.

Comprehensive review

PrimeXBT is a crypto, forex, and CFD brokerage company registered and regulated in South Africa, Mauritius, and the Seychelles. As a result of the regulatory situation in those countries, forex brokers there are free to offer flexible trading conditions, including high trading leverage. In PrimeXBT's case, trading leverage of up to 1:1,000 is available on the most liquid assets.

As a crypto-focused broker, PrimeXBT differs from traditional forex brokers in that clients can keep funds in their wallet with the broker in both crypto and fiat currencies. The supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH) and the stablecoins Tether (USDT) and USD Coin (USDC).

The trading instruments that are available from PrimeXBT includes a huge selection of more than 100 forex pairs, over 40 crypto pairs, as well as several stock indices, a few US-listed stocks, and commonly traded commodities like oil, gold and a number of soft commodities. It's worth noting that crypto can be traded as either CFDs or so-called perpetual futures contracts, while all the other assets offered by PrimeXBT are traded as CFDs.

Because of PrimeXBT's perpetual futures offering, the broker is able to support trading in crypto 24/7, in line with how the underlying cryptocurrency market operates. This differs from traditional CFD brokers, who normally only make trading available from Monday morning to Friday night.

Another thing that stands out with PrimeXBT is its innovative web-based trading platform. The platform, known as the PrimeXBT WebTrader, is designed around a highly dynamic chart which is advanced enough for even the most skilled 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. The trading platform works on any computer as long as it has an internet connection, and is supported by all major web browsers, including Chrome, Safari, Firefox and others.

Besides the web platform, PrimeXBT has developed its own mobile trading app that works on Apple and Android devices. Additionally, the broker states on its website that the popular MetaTrader 5 (MT5) platform is available to some clients located “in specific regions” only, through its Seychelles-registered branch.

We are also happy to see that PrimeXBT has a very simple fee structure, with fixed fees for all traders and no complicated account tier system. As of this writing, the commission fees start from 0%, while the spreads start from 0.1 pips.

To fund a trading account, both crypto and fiat currencies can be used. The supported cryptocurrencies include BTC, ETH and USDT, while the traditional funding methods include bank transfer, credit cards, Google Pay and Apple Pay, as well as some local funding methods in specific regions.

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. It's nice to see a traditional forex broker offering crypto-based perpetual futures, which are normally only available on crypto exchanges. For many traders, the combination of CFD and crypto futures trading could be attractive, especially since crypto futures can be traded over the weekends as well. In conclusion, we therefore feel PrimeXBT is a broker that should at least be considered for crypto fans who want high leverage and an intuitive trading platform.

Reviews from traders

4.69/5
(51 votes)
5/5
South Africa
South Africa
5/5
Mexico
Mexico
4/5
Vietnam
Vietnam
5/5
Malaysia
Malaysia
4/5
Singapore
Singapore
5/5
Vietnam
Vietnam
5/5
Mexico
Mexico
5/5
Malaysia
Malaysia
4/5
Singapore
Singapore
5/5
Malaysia
Malaysia
5/5
Mexico
Mexico
5/5
India
India
5/5
Mexico
Mexico
5/5
Mexico
Mexico
5/5
Singapore
Singapore
4/5
Vietnam
Vietnam
5/5
Mexico
Mexico
4/5
Mexico
Mexico
5/5
South Africa
South Africa
5/5
India
India
4/5
Singapore
Singapore
5/5
South Africa
South Africa
5/5
Malaysia
Malaysia
5/5
Thailand
Thailand
4/5
Thailand
Thailand
5/5
Argentina
Argentina
5/5
South Africa
South Africa
4/5
Brazil
Brazil
5/5
Argentina
Argentina
5/5
Argentina
Argentina
5/5
Mexico
Mexico
5/5
Brazil
Brazil
5/5
UAE
UAE
5/5
Brazil
Brazil
4/5
Turkey
Turkey
5/5
Brazil
Brazil
4/5
Mexico
Mexico
5/5
Mexico
Mexico
4/5
Brazil
Brazil
4/5
Argentina
Argentina
4/5
Mexico
Mexico
5/5
Algeria
Algeria
5/5
Japan
Japan
5/5
United Kingdom
United Kingdom
4/5
United States
United States
5/5
Austria
Austria
4/5
United States
United States
5/5
South Africa
South Africa
5/5
Australia
Australia
5/5
United Kingdom
United Kingdom
4/5
Spain
Spain
No rating
United States
United States
No reviews from traders yet.
Rating