Pros
  • Excellent platform and app
  • Variety of cryptos available provides plenty of trading opportunities
  • Demo trading competitions with cash prizes
  • Easy-to-use copy trading tool
Cons
  • BTC withdrawal fee
  • No regulation!
  • No MetaTrader 4 integration
  • No telephone customer support

Reviewed broker: Prime XBT

Established in 2018

Operated by PrimeXBT Trading Services Ltd

Regulation: not regulated

Location: Marshall Islands

PrimeXBT Restricted Countries include United States of America, the province of Québec in Canada, Algeria, Ecuador, Ethiopia, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea and Sudan

The website is available in the following languages: English, Malay, Chinese, German, Spanish, French, Hindi, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Thai, Turkish, Vietnamese.

Trading instruments: Cryptocurrencies, Forex, Commodities, Indices

Trading Conditions

The maximum leverage is 1:100 for crypto assets and 1:1000 for Forex, commodities and indices.

PrimeXBT offers cryptocurrency assets, Forex, indices, and CFDs for trading on its platform.

  • Forex: The trading of major and minor currency pairs is available. Commissions known as trading fees are charged.
  • Cryptocurrencies: The available crypto assets are: Bitcoin, Litecoin, Ethereum, Ripple and EOS.
  • Commodities:  Traders have the opportunity to speculate on the prices of commodities like oil, gold, etc.
  • Indices: The world’s most popular indices can be traded on the PrimeXBT platform. Some of them are FTSE 100, S&P 500, etc.

Cryptocurrency trading

With PrimeXBT you can buy, sell, and trade a variety of different cryptocurrencies and be a part of the growing global market being built around these digital assets.

Foreign Exchange trading

With PrimeXBT you can buy, sell, and trade a variety of different global currencies like the USD, GBP, EUR, and more, and take part in one of the world’s biggest markets – the foreign exchange market. 

Prime XBT Platform

PrimeXBT provides its own tailor-made, browser-based trading platform that requires no download or installation. The platform comes fully equipped with over 50 technical indicators and a full suite of charting and analysis tools.

Clients can place trades and manage orders directly from charts, powered by TradingView. The workspace is fully customizable and offers a range of visualization tools, execution methods and trading histories.

While using PrimeXBT, traders can also execute several different order types with the option to simultaneously place stop losses and take profits.

Customizable Platform Layout

A fully customizable workspace, which includes intuitive visualization of market data, and offers an extensive suite of trading tools and that is not all that you can’t get! Setup your perfect trading environment now.

Professional charts

Place trades, manage orders and work directly from our integrated charts. Use our comprehensive suite of drawing tools and over 50 technical indicators to analyze price trends.

Multiple order types

Prime XBT offers multiple order types available in the Order Form option to give you the necessary tools to execute your trading strategy and provides increased flexibility on how you enter trades.

Secure wallets

Withdraw, deposit and store your assets in your personal secure wallet. All assets are securely held in our offline storage system to protect users against any possible risk or threat.

Copy Trading

Copy trading sounds fantastic – you automatically replicate the trades of professional traders without much work and get to enjoy the trading results. However, most of the time, there is no free lunch in the markets. Here are the main pros and cons of copy trading.

Pros:

  • Automated trading: The main advantage of copy trading is the ability to automate your trading by following other profitable traders. The only effort you need to make is to find a profitable trader with good trading results, and periodically review the performance of the trader.
  • Finding traders: This leads us to the next advantage of copy trading –  the simplicity of finding a profitable trader. Most copy trading platforms allow you to filter through different metrics on their website, including trading results, profit & loss, the average size of winning and losing trades, average risk per trade, reward-to-risk ratios, and more.
  • No emotions: better trading: If you’re new to trading, you may have experienced that emotions can have a big impact on your trading results. With copy trading, emotional trading becomes a thing of the past. Since you don’t have to analyze the market and trade on your own, there are no emotions involved.

Cons:

  • The (in)ability to control risk – As you may guess, the main drawback of copy trading is that your trading performance is completely dependable on the trading results of the traders you follow. If they make a bad trade, that bad trade will also appear in your trading account. To bypass this major drawback, copy trading platforms allow you to set how much you want to allocate to any single trader, and to pre-determine how much you want to lose on any single trade. You can also interfere and manually close a trade if you feel that the copied trade isn’t as good as it could be.

Payment Methods

Minimum deposit requirement $1

the company primarily deals in cryptos when it comes to transactions. PrimeBTX only allows credit card deposits. The only payment currency is Bitcoin. Transfer from an external Bitcoin wallet into the Prime XBT wallet or buy Bitcoins from the embedded Changelly plugin.

Bonuses and Promo

Enjoy a Holiday Season Bonus from PrimeXBT! From 11 December 2023, all the way to 11 January 2024, all PrimeXBT clients can benefit from an amazing 20% Deposit Bonus!*

This means you could get:

  • $20 bonus for deposits worth $100
  • $100 bonus for deposits worth $500
  • $200 bonus for deposits worth $1,000
  • $500 bonus for deposits worth $2,500

The 20% Deposit Bonus applies to any deposits you make during the promo period, until you’ve claimed a total of $1,000 in bonuses. The minimum deposit amount for this promo is $100.

Customer Support

The PrimeXBT customer desk operates round the clock and speaks English and Russian. The available channels are email, web chat and social media. 

How was the rating of Prime XBT performed compared to other brokers? 

This 2024 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Prime XBT FX broker performance and features. 

Overall our online Prime XBT review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Prime XBT or you find inaccurate details Prime XBT broker review please get in touch with us and the changes will be applied.

PrimeXBT  Details

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