PrimeXBT Review 2023


 PrimeXBT Review Summary

The PrimeXBT cryptocurrency exchange is a one-stop-shop trading platform that supports trading cryptocurrencies, most major stock indices, commodities, and foreign currencies. They have quickly become one of the major players in the margin-trading industry.

PrimeXBT is an excellent platform for margin traders looking to trade cryptocurrency, forex, commodities, and stock indices with Bitcoin, Ethereum, or a USD stablecoin as the base currency. It offers Copy Trading, low trading fees, a variety of investment instruments, and up to 1000x leverage (dependent on the asset). However, it should be noted that there is no spot trading on PrimeXBT.

The exchange intends to overcome the common drawbacks of other platforms, such as long KYC approval processes, unexpected downtime, low liquidity, problems trading on failing markets, limited order types, poor user experience, and expensive trading fees.

  • Web Address:
  • Fiat Currencies: USD, GBP, EUR, CAD, AUD, HKD, JPY & 30+ more
  • Cryptocurrencies: BTC, ETH, LTC, XRP, EOS, ADA, DOT, SOL, UNI, LINK, DOGE & SHIB
  • Mobile app: Yes
  • Trading Fees: Crypto: 0.05%, Forex & Metals: 0.001%, Gas, Oil & Indices: 0.01%
  • Fiat Deposit Fees: 0%
  • Crypto Deposit Fees: 0%
  • Crypto Withdrawal Fees: 0.0005 BTC
  • Fiat Withdrawal Fees: Not available
  • Deposit Methods: SEPA & Bank transfer (ACH), Debit card, Credit card, Cryptocurrency
  • PrimeXBT Security: PrimeXBT offers a high level of security including 2FA authentication and whitelisting features. An extensive cyber-security framework is implemented in order to ensure that strict measures and practices are in place to protect customer assets against any eventualities and threats.

PrimeXBT History Overview

Founded in 2018 and headquartered in the Seychelles, PrimeXBT supports the trading of the market’s largest cryptos by market cap, and they’ve managed to tow the legal line giving customers the option to trade without KYC.

When it comes to liquidity, PrimeXBT is solid with their offerings. Most retail traders will be comfortable with the depth in their books. According to PrimeXBT, they work with over 12 liquidity providers to ensure your orders get filled, it has the characteristics that an active trader needs: low fees and high liquidity.

The platform has over thirty different trading assets, including the popular BTC, ETH, LTC, XRP, and EOS. It also has access to trading Indices, such as the S&P 500, JAPAN, and the NASDAQ, as well as to commodity speculation on Gold, Silver, etc.

Leverage is one of the many features that advanced traders tend to look for, but most platforms offer very limited leverage when it comes to trading cryptocurrency. PrimeXBT stands out by offering a cryptocurrency market leverage of 1:200.

This means that for each $1, you get $200 worth of buying or selling power. This essentially gives you access to a greater market position, so you can make even more profits, or losses. As always, leverage should be used with caution. But in the right hands it can be a very powerful tool.

Leverage is one of the key features of PrimeXBT and among its main features. The website also offers a detailed explanation of leverage on its website to help those that do not fully understand the concept.

PrimeXBT Cryptocurrency selection

PrimeXBT gives investors and traders access to amongst the most popular cryptos in the market. Crypto pairings available for trading on margin include BTC, ETH, LTC, XRP, EOS, ADA, DOT, SOL, UNI, LINK, DOGE & SHIB.

Users may also trade the following assets by way of Certificates of Deposits (CFD):

ASX200, Brent, Crude, DJIA, EuroStoxx50, CAC40, DAX30, Hang Seng, Nikkei225, NASDAQ, Natural Gas, S&P500, Spain’s IBEX35, and the UK’s FTSE100.

In addition to this the Forex pairings available for trading are numerous, covering the majors and crosses, in addition to exotics.

Pairings include, but are not limited to the major pairings AUD/USD, EUR/USD, GBP/USD, NZD/USD, USD/CHF, USD/JPY, and USD/CAD and exotics such as USD/THB, USD/MXN, and USD/RUB.

PrimeXBT Markets

PrimeXBT Supported Countries

PrimeXBT is available in more than 150 countries worldwide, though unfortunately this does not include United States users.

The full list of restricted juristictions can be found here.

PrimeXBT Payment Methods

PrimeXBT offers multiple deposit options for users. These include:

  • Crypto deposit: For users who already own cryptocurrencies supported by PrimeXBT, you may transfer these to the PrimeXBT compatible wallets.
  • Bank Deposit: PrimeXBT supports bank deposits for the world’s fiat currencies.
  • Credit/Debit Card: Visa and Mastercard.

Key Features of PrimeXBT

PrimeXBT Key Features

Key attributes of the PrimeXBT platform include:

  • Fast and easy registration process.
  • Easy to use platform giving market access to both novice and seasoned investors.
  • Low fees.
  • Supports both long and short trading as well as trading with leverage.
  • Investors can trade across the major asset classes including commodities, crypto, fiat, and indices.
  • Trading tools include charts for technical analysis as well as copy trading by way of PrimeXBT’s Copy-Trading platform.
  • Supports the deposit of crypto as well as deposits via credit card/SEPA transfers.
  • Responsive customer support via Live Chat, with response times in under 5-minutes.
  • Global presence, with a high emphasis on security.
  • PrimeXBT offers an attractive referrals program, where referrers can earn commission from both direct and indirect referrals.

PrimeXBT Yield accounts allow you to connect to and participate in numerous DeFi yield generating applications through Staking. Staking products allow for a high variable rate of return on idle crypto assets, otherwise known as an APY. The blockchain-based solution provides returns for those that lock up their crypto assets for a period of time. The more assets and/or the longer the stake period the higher the returns.

PrimeXBT Yield

Copy-trading, also known as Covesting, on PrimeXBT allows traders to set up and manage a Strategy and/or Follow another trader’s Strategy. A Strategy is a pool of a trader’s personal funds which is visible to the public and can be Followed by others. This provides an excellent opportunity for both experienced successful Traders and Followers to greatly boost each other’s profit potential.

Starting Copy Trading is free, however a part of your gains will be taken as commission. A portion of this goes to PrimeXBT, and another goes to the trader you’re following. An overview of these fees can be found here.

    PrimeXBT Copy Trading

    PrimeXBT offers the following leverage alternatives:

    • Cryptos: up to 1:200.
    • Indices and Commodities: up to 1:100.
    • Forex majors: up to 1:1000.

    PrimeXBT Trading Fee Overview

    Here is a breakdown of the PrimeXBT fee structure:

    PrimeXBT Fee Overview

    A Trading fee is incurred each time you buy or sell assets on the market (i.e., each time you open and close a position).

    Current trade fees on margin Trading accounts are:

    • 0.05% for Cryptocurrencies
    • 0.0001% for Forex, Indices, and Commodities

    An in-depth view of the fee structure can be found here.

    Copy-trading Strategy accounts may be subject to additional slippage fees caused by executing significant Follower’s order, as explained here.

    PrimeXBT Deposit Fees

    If you are depositing cryptocurrency into PrimeXBT, there are zero fees.

    And while you cannot deposit fiat currency into the platform, you can purchase Bitcoin and a few other cryptocurrencies to directly fund your PrimeXBT account, you can do so via their third-party payment providers, who may charge a fee.

    PrimeXBT Deposit

    PrimeXBT Withdrawal Fees

    The withdrawal fee from PrimeXBT incurs a flat fee to cover the transaction costs of moving the crypto from your wallet. (i.e., the fee will remain the same regardless of the amount being withdrawn):

    • 0.0005 BTC
    • 0.002 ETH
    • 10 USDT
    • 10 USDC
    • 5 COV

    There are no withdrawal limits.

    PrimeXBT Security Features

    PrimeXBT is committed to provide the highest level of security to its platform users. Extensive cyber-security framework is implemented in order to ensure that strict measures and practices are in place to protect customer assets against any eventualities and threats. PrimeXBT conducts periodical stress tests and security audits to ensure compliance with the strictest security standards.

    The platform uses the following security tools and measures:

    • 2FA (provided by Google Auth.) to ensure account security and prevent any unauthorized access to user’s account.
    • Encrypted SSL (https) to encrypt and secure website traffic.
    • All passwords are cryptographically hashed (using bcrypt with a cost factor of 12) while all other sensitive data is encrypted.
    • Cloudflare to mitigate potential distributed denial-of-service (“DDoS”) attacks.
    • Regular tests and check-ups by the technical team.
    • On-going and IT security assessments are executed to keep up to date with new potential vulnerabilities.

    The PrimeXBT environment is hosted on Amazon Web Services (AWS). AWS has a proven track record for physical security and internal controls.

    PrimeXBT Customer Service

    PrimeXBT offers two basic options for customer support: submitting a ticket through their email system at and asking basic questions via the built-in chat function.

      PrimeXBT also uses a Telegram Bot that can be used to check your core account statistics, active orders, open positions, current market rates for all available instruments and trading pairs and additionally allows you to contact the Support team via live chat format directly from your Telegram application.

      Last updated Apr 18, 2023

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