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▷ PrimeXBT Reviews & Ratings 2024

Is PrimeXBT legit and safe to use?

Crypto Exchange
PrimeXBT
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3.8/5
  • Wide range of crypto pairings
  • No minimum deposit to get started
  • Buy BTC, ETH and USDT
Go to PrimeXBT
T&Cs apply, 18+
Details
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User Reviews

Welcome to our honest PrimeXBT review. Take a look below and see why this crypto leverage trading site offers you a fresh new way to make something off the back of the cryptocurrency revolution!

Is PrimeXBT safe? It sure is and it offers you a great way to enjoy margin trading for everything from cryptos like Bitcoin all the way through to commodities, forex markets and so on. So join us in our PrimeXBT review to see why this site is well worth a look if you’re into crypto trading!

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Payment Methods
Bitcoin
License
VFSC - Vanuatu Financial Services Commission
Company
Prime XBT Trading Services LLC
Founded
2018
Website
primexbt.com
Available Languages
EN
ES
+
Customer Support
Live Chat, Email Support
Overall Rating
3.8/5
  • Usability, Look & Feel
    3.8/5
  • Payment Methods
    3.8/5
  • Customer Service
    3.9/5
Payment Provider Safety
Bitcoin high
No review posted yet.
User Rating
0/5
5 Stars
0%
4 Stars
0%
3 Stars
0%
2 Stars
0%
1 Star
0%
Last Updated on 09/04/2024

Security, usability, look & feel - Great mobile app used in this PrimeXBT review

The actual PrimeXBT trading platform is easy to use and packed full of enough features to help you make an assured trade. You’ll have simple ways to focus on the crypto trading options among the forex and commodities markets. Plus it’s nicely customizable so that you can manipulate the trading tools and charts however you see fit.

We should note that we carried out much of this review on the PrimeXBT app. You can get this for iOS and Android devices, and it offers you an equally convenient way to enjoy margin trading and use all of the technical indicators effectively.

One of our favorite things about the PrimeXBT platform is the cool Covesting Copy-trading Module. This simply lets you see what expert traders are doing so that you can copy their moves. It’s a great way for those new to online trading to learn how to invest without making some dumb rookie mistakes. Plus we should note that this copy-trading scheme works both ways so that experienced traders could get a 20% boost on their profits by letting newbies follow their trades.

Company
Company Prime XBT Trading Services LLC
Headquarter Pacific Pines, Queensland 4211, Australia
Year of Founding 2018
CEO Zigmund Stein
Website primexbt.com
Available Languages English, Spanish, German, French, Italian, Russian, Portuguese, Japanese
Customer Support Live Chat, Email Support
Email [email protected]
Phone -
Licence VFSC - Vanuatu Financial Services Commission
VFSC - Vanuatu Financial Services Commission
Verified by -
Payment Methods
Bitcoin
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How to trade at PrimeXBT

The great news is that it’s fast and easy to open a free account at PrimeXBT. This means that you can simply sign up and start trading in a matter of minutes. PrimeXBT says that you can get your account set up in 40 seconds, and while it took us a little longer than this, we understand where they’re coming from!

The signing-up process will require you to prove that you are over the age of 18 years old, and from here you just have to provide your email address, create a password and then you’re good to go.

Next it’s just a matter of making a deposit via a crypto or a regular payment method. Once the money hits your account, you can simply browse and purchase one of the many CFDs on offer. This means that you can benefit from the price movements of anything from Bitcoin to Ethereum without even having to own the underlying asset. Simple!

Payments - Fair variety of payment methods found in our PrimeXBT review

We found that PrimeXBT lets you buy cryptocurrencies and trade assets with deposits made via bank transfer or cards like Visa and Mastercard. Just remember that you’ll probably have to use a third-party payment service if you want to deposit with these traditional payment methods.

The permitted cryptocurrency deposit options are Bitcoin, Ethereum, Tether, USD Coin and  Covesting. Here you’ll find that your crypto deposits will take around one minute for Ethereum payments, and up to 40 minutes for Bitcoin deposits. There is no minimum deposit amount for margin trading at PrimeXBT.

Similarly, there is no maximum or minimum amount for making a withdrawal from this crypto trading platform. Plus we should note that PrimeXBT will strive to approve your withdrawals on the same day that you make them. This means that it should rarely take longer than 24 hours for your withdrawal to be back in your own crypto wallet. Just remember that you cannot make a withdrawal from PrimeXBT back to your standard bank account.

Bitcoin

Customer service - 24/7 support discovered in our PrimeXBT review

One of the best things about using PrimeXBT is the fact that it offers customer support 24 hours a day, seven days a week. It’s pretty hard to find a crypto leverage trading site with the same level of commitment to its customers.

You can simply get in touch with the PrimeXBT customer service team by using one of the email addresses in the website footer and there is also a live chat feature in the top right of your account section. We should also mention the fact that you can contact PrimeXBT on Twitter and Facebook, and there is also a very nicely detailed FAQ section.

License & security - A key part of our PrimeXBT review

Your online security is one of the main reasons why we carry out reviews like this. Part of the reason why we ask questions like, ‘Is ByBit legit?’ is that there are a handful of scam sites out there, so we’ll do all we can to help you avoid these rogue operators.

So the first thing to understand is that PrimeXBT is not some small-scale online trading platform. It has a daily average trading volume of $545 million which should give you some idea of scale. Plus the fact that PrimeXBT has over a dozen integrated liquidity providers should ensure that you can execute safe and profitable trades here.

You may be wondering what kinds of licensing and regulation PrimeXBT has. Well, the simple answer is that it doesn’t have any and isn’t required to as it is based in St. Vincent and the Grenadines.

You’ll see that you have to complete a KYC document identification procedure to make a purchase via a card or bank transfer at PrimeXBT. Plus all of your assets will be kept in your own personal secure wallet on the PrimeXBT site. Just so you know, these assets are kept in a cold offline storage facility to ensure that they don’t fall into the wrong hands.

Other security features include a useful two-factor authentication procedure, encrypted SSL technologies across all traffic on the PrimeXBT site, and your passwords will be cryptographically hashed. Plus with the use of Cloudflare to cancel out any DDoS attacks, you should feel secure in how your data and assets are being handled.

VFSC - Vanuatu Financial Services Commission

Reputation and customer feedback – What do other kinds of PrimeXBT review have to say?

We should note that PrimeXBT has earned an excellent reputation among the crypto trading community. Recent years have seen PrimeXBT pick up awards for things like Best Crypto and Forex Broker, as well as Best Platform for Margin Trading, and it’s easy to see why.

However, we should note that some Reddit users have found that the leverage model offered by PrimeXBT was a factor in them losing their investment. This could easily be due to user error, rather than anything that PrimeXBT was doing. All of which is a timely reminder to be careful when margin trading.

Cryptocurrencies - Many crypto trading options found in our PrimeXBT review

Most people who are reading this PrimeXBT review will be keen to see if this site offers some of the highest margin crypto trading currently available. So the good news is that PrimeXBT offers you a great way to use leverage to open up trades with potentially a much greater earnings value compared to what you deposit.

PrimeXBT serves up a wide variety of crypto-based CFDs (contracts for difference) which means that you don’t actually own the cryptocurrency itself, but can instead trade in fractions of the asset – pretty useful considering the price of one Bitcoin nowadays.

Some examples of leverage trading here could serve up returns over 100% higher than what you’d get without leverage. Remember that leverage trading works so that you can get a return if the market price of a particular asset goes higher or lower.

The range of cryptos you can trade is impressive. We saw pairings between the US dollar and Bitcoin, Ethereum, Litecoin, RIpple, EOS, Dogecoin, BNB and much more. Definitely enough for the casual crypto investor.

We realize that the concept of crypto leverage trading might still be quite new for some people. So we’ve prepared this handy guide that explains, ‘What is margin in crypto trading?’ so that you can take full advantage of all that PrimeXBT has to offer.

Other trading – Buy cryptos and earn interest on your digital assets

PrimeXBT actually lets you buy cryptocurrencies outright. The overall list just features Bitcoin, Ethereum, Tether and USD Coin at the moment, but it’s enough to get you started. Just remember the fact that you’ll be making the purchase on one of the brand’s sister sites rather than the actual PrimeXBT platform.

The margin trading model at PrimeXBT isn’t restricted to just cryptocurrencies. It also offers you a great way to speculate on the price movements of indices like the S&P 500, commodities like gold, silver and oil, as well as currency pairings such as the US dollar against the euro and so on. Just remember that while margin trading can open you up to some spectacular gains, it can always work the other way with devastating results.

We should note the fact that PrimeXBT has a great passive income service that lets you earn interest on your crypto assets. So if you deposit a cryptocurrency at PrimeXBT, you could let it sit there and earn interest anywhere up to 14% APR depending on what kind of crypto it is. What’s best is that you can add or withdraw funds at any time so that you aren’t locked in.

Jurisdictions and limits – Can you use PrimeXBT in your country?

We’re sad to say that PrimeXBT has a fairly lengthy list of countries where investors cannot use its services. The most notable of these excluded countries is the US. This is probably due to the fact that the US has banned the form of CFD margin trading featured at PrimeXBT.

Beyond the US, we also found that you can’t use PrimeXBT if you are resident in countries like Japan and Canada. Other banned countries include the usual list of nations like Cuba, Algeria, Ecuador, Iran, Syria, North Korea, Russia and Sudan.

Fees – Competitive fees found in our PrimeXBT review

There is no minimum deposit required to open a margin trading account at PrimeXBT. You’ll find that the commission rates are competitive and come in starting from 0.0001% for forex trading, but they change depending on what you’re trading. For example, if you’re executing a trade on the Bitcoin and US dollar pairing, you’ll have to pay a 0.05% commission fee.

We should also note the fact that there are some fees for making withdrawals from PrimeXBT. For Bitcoin withdrawal, you’ll have to pay a 0.0005 BTC fee, whereas the other withdrawal crypto fees will vary according to what network you are using.

Product summary – What we discovered in our PrimeXBT review

It’s clear that PrimeXBT has put on a great crypto leverage trading platform. What’s best is the fact that this isn’t restricted to Bitcoin. So if you want to enjoy margin trading Ethereum, Litecoin and Ripple are just some of the alternative crypto options that you’ll find here.

We realize that margin trading requires a fair amount of skill and there’s plenty of risk involved, but as long as you understand this and budget carefully, there’s no reason why you can’t enjoy everything PrimeXBT has to offer. Plus with some interesting packages like a savings account where you can earn interest, it seems that PrimeXBT has got all of your crypto needs covered.

PrimeXBT
3.8/5
PrimeXBT Crypto Exchange
T&Cs apply, 18+
Go to PrimeXBT
PrimeXBT Highlights
  • Wide range of crypto pairings
  • No minimum deposit to get started
  • Buy BTC, ETH and USDT

PrimeXBT review FAQ

✅Is PrimeXBT legit?

Read our PrimeXBT review to see whether this is a legit crypto leverage trading site. After all, we asked, ‘Is Phemex legit?’ and it’s probably only fair that we ask the same thing of PrimeXBT. So read our review to see what happened when we examined how PrimeXBT is regulated and what it does to look after any of the money that you invest on its trading platform.

❓Is PrimeXBT allowed in the US?

We’re always keen to see where crypto trading sites are allowed to operate, especially as the US regulators seem to remain steadfastly opposed to anything to do with cryptocurrencies. So make sure that you read our PrimeXBT review to see whether you can enjoy some defi leverage crypto trading in the US. Failing that, we’ll examine which jurisdictions PrimeXBT operates in.

💰What is the minimum deposit on PrimeXBT?

While PrimeXBT offers some of the best margin trading crypto users can currently get, you won’t be able to do any of this unless you put down the minimum qualifying deposit. So make sure that you read our PrimeXBT review to see what the minimum amount you can deposit here is, and we will also let you know if there are any fees and you’ll get to see what the processing times are like too.

💵 What kind of PrimeXBT fees are there?

Make sure that you read our PrimeXBT review to see what kinds of fees you’ll be facing for using this crypto leverage trading platform. After all, if you want to enjoy margin trading Bitcoin users will probably have to face some charges along the way. The good news is that the fees at PrimeXBT are relatively competitive and so you shouldn’t face too many charges when withdrawing anything made from your trades.

👀Is PrimeXBT a broker?

Check out our PrimeXBT review where we’ll examine whether this site is a broker or something else entirely. There are many different kinds of online trading sites out there and it’s essential that you use one that is well suited to your own particular investment requirements. Thankfully we are here to answer all tricky questions like, ‘Is crypto margin trading halal?’ so that you can understand what kind of trading site you should be signing up to.

Overall conclusion - Positive findings in our PrimeXBT review

PrimeXBT is clearly a heavyweight online trading platform. Any site that lets you trade everything from Bitcoin and gold to currency pairings and indices should give you plenty of investment options. While the CFD model of trading isn’t for everyone, we felt that it offered us a fast and easy way to speculate on the price movements of our favorite cryptos.

Some people may find the lack of regulation of PrimeXBT is a bit disconcerting. However, we found that it enjoyed an excellent reputation and had clearly invested a lot of time and money into ensuring that your crypto assets stay as safe as possible.

Plus it’s important to remember that PrimeXBT is still a relatively new crypto trading platform and so it could upgrade how it is regulated soon. All of which means that you should probably sign up to PrimeXBT and see how you can take advantage of this hugely promising crypto site.

PrimeXBT
3.8/5
Rating
Go to PrimeXBT
Highlights
  • Wide range of crypto pairings
  • No minimum deposit to get started
  • Buy BTC, ETH and USDT

User Reviews for PrimeXBT

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Crypto Exchange
PrimeXBT
Favicon
3.8/5
  • Wide range of crypto pairings
  • No minimum deposit to get started
  • Buy BTC, ETH and USDT
Go to PrimeXBT
T&Cs apply, 18+
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