PrimeXBT Review- Online Platforms, Commission, Leverage, Account Types, Features & more

PrimeXBT is one of the leading online platforms that offer Cryptocurrencies and CFDs for trading to clients globally.

Besides allowing traders to trade in cryptocurrencies, the trading platform also allows traders to trade in general financial vehicles, including Forex, S&P 500, and Nasdaq composite indices.

The traders can also invest in commodities, including crude oil and natural gas, and a lot more options.

No doubt, there are a variety of options available, but the best part about using the trading platform is that it is relatively easy to use, and it can be used by newcomers also.

The main agenda of the forum is to solve general issues like long KYC processes, inferior liquidity, surprise downtime, restricted order types, and a lot of trading fees.

On this platform, you can surely avail of stunning leverage, massive liquidity, a user-friendly platform, and significant trading volumes.

About PrimeXBT and Accepted countries

Back in 2018, PrimeXBT was incorporated in Seychelles. Initially, it was formed under the name of PrimeXBT Trading Services.

Currently, the company serves as a global brand, and it tends to serve clients in more than 150 countries. Just the previous year, the company also opened offices in St. Vincent and the Grenadines.

Now the company has its headquarters in Switzerland. The company has more than 40 employees, three offices, and a $540 million trading volume daily.

Traders from the United Kingdom, South Africa, Singapore, Australia, Thailand, India, France, Germany, Norway, Sweden, Italy, Hong Kong, Saudi Arabia, Kuwait, Luxembourg, Qatar, Denmark, and other countries have access to trade on this platform.

Traders from Canada, Algeria, Ecuador, Iran, Syria, Korea, Sudan, United States Outlying Islands, United States, Japan, American Samoa, Russian Federation Saint Vincent, and Grenadines don’t have access to trade on this platform.

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PrimeXBT Trading Platform

These are the instruments that allow you to set the trade size.

PrimeXBT Mobile App

The trading platform offers a mobile version of the custom platform, and users can download it on their iOS and APK smartphones and tablets.

Almost all the functionalities of the desktop web-based platform are available on the mobile app.

Additionally, it has impressive personalization options to meet all the trading preferences. Above all, the app is suitable for both iPhone and Android mobile users.

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PrimeXBT Commission or Brokerage or Fees

The platform tends to have a transparent fee structure as it charges only for each trade, and it holds a position open overnight. The commission charges for cryptocurrencies are 0.05%.

While on the other hand, commission rates for forex and precious metals are 0.001%. The commission rates of indices and commodities are 0.01%.

Additionally, swaps are also known as Overnight financing charges, and some of the brokers tend to change it daily.

Above all, the commission and trading fees tend to play a significant role as they have a great impact on profitability.

These fees add on a cumulative basis if you trade a great deal of volume on the exchange.

PrimeXBT Exposure or Leverage

Leverage rates on this platform are quite competitive. The crypto pairs offer leverage of 1:1000.

The leverage tends to be variable mainly because they have smaller trade sizes. The maximum leverage decreases when the trade size increases.

Additionally, the top rates also vary depending upon the asset. It offers the trader the benefit of making money on the borrowed funds.

You can potentially increase your returns by some factor by trading on the leverage.

Payment methods provided by PrimeXBT

When it comes to transactions, the platform only accepts cryptos. By using the widget in the trading platform’s deposit option, one can use to buy bitcoin with both credit and debit cards.

The additional charge is just 10%. Depositing into a PrimeXBT account is a  quick process if you have a bitcoin already.

Before it may show up in the account, it might take up some time mainly because there are six automated confirmations. The withdrawal fee is 0.0005 BTC.

Find out Payment Methods provided by other Forex Brokers

Investment in Asset, Classes, or Markets by PrimeXBT

PrimeXBT Virtual Trading Account or Demo Account

Traders need to note that the trading platform doesn’t offer a virtual trading account to practice trading strategies in a risk-free environment.

PrimeXBT Offers or Deals

Though the trading platform doesn’t offer any welcome bonuses, rewards, or deposit bonuses, they can avail of some monetary incentives once the trader signup.

PrimeXBT Regulation or Licensing

Currently, the PrimeXBT is not licensed. The unregulated status may come as a red flag for several traders. But you don’t need to stress as the customer reviews are mostly positive.

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PrimeXBT Features

Education – One of the best features available on this platform for traders is the education feature.

Under this feature, the experts explain to traders some of the order types, trading strategies, etc.

Additionally, users can also access video tutorials and visual guides. On the website, you can also find the cryptocurrency blog. It covers all the details about challenging trading strategies.

Covesting – The trading platform is planning to offer the Covesting module, and it is under developing mode currently.

The feature allows the client to invest in some other traders. Almost all funds are rated by some metrics.

You are most likely to receive more capital gain if you have your own funds and also gain some percentage on extra profits.

PrimeXBT Account Types

The trading platform chooses to keep things simple, so it doesn’t offer many account types.

Instead, the trading platform offers only one account by providing all the services to the broker with no restrictions based on the trading volume.

The minimum deposit to trade on the platform is 0.001 BTC.

PrimeXBT Trading Account Features

Check below all the trading account features under various account types:

PrimeXBT – Research & Advisory

Find below all the different reports and support provided by its Research & Advisory team :

PrimeXBT Benefits

• Traders have access to Bitcoin and cryptocurrency trading.
• Suitable for traders as the minimum deposit is 0.001 BTC.
• Quick execution times ~7ms
• Traders can trade 24*7
• No personal information is required.
• Maximum leverage rates
• Covesting model

PrimeXBT Cons or Drawbacks

• They restricted deposit and withdrawal methods.
• Online customer support is only available.
• Demo account not available.

PrimeXBT Trading Hours

Traders on this platform can trade 24/7. It is mainly because markets don’t have closing hours. But you should know that overnight swaps are chargeable for positions that are held beyond 23:59 UTC.

Almost all forex pairs available on this platform are open from 21:05 to 21:00, but it is not available for USD/RUB. The pairs are open from 07:00 to 21:00.

Traders can trade precious metals from 22:00 to 21:00. Due to local trading hours, there is a considerable variation among commodities and indices.

PrimeXBT Customer Care or Contact Details

The PrimeXBT offers 24*7 live chat services. Additionally, there are several experienced agents always active.

But you need to know that there is no telephone or offline support. The best part is the support staff and is also knowledgeable.

You can also contact the platform through support@help.primexbt.com.

PrimeXBT Safety and Security

The trading platform doesn’t need traders to submit zero personal information.

The trading platform offers excellent cybersecurity standards that are tested regularly and also audit the client’s capital.

Google offers additional information on multi-factor authentication, and it needs both an account password and a personal smart device.

Almost all the assets of the trading platform are secure, with a limited amount of Bitcoin held in internet-connected wallets.

The website traffic is encrypted, featuring a secure sockets layer (SSL) encryptions and account passwords.

Hence the content is unreadable even if the website tends to be unfiltered.

PrimeXBT Rating & Review by Top10StockBroker

Based on the user experience, the following rating and reviews are provided.

PrimeXBT Verdict or Conclusion

As the trading platform is new to the scene so you should keep an eye on it. Additionally, it concentrates a lot on technological development, which leads to the creation of sleek trading platforms.

No doubt, the trading platform protects its traders, but it is not done through any regulation.

The best part about the platform is that it is easy to use, and the only thing that makes the platform stand out in the crowd is the maximum leverage ratio of 1:100.

Above all, the platform tends to have a cement reputation in the trading market.

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