PrimeXBT Review
Reason to avoid: Offshore License
Listed Date: February 6, 2020
Top 3 Forex Brokers
Beware PrimeXBT is a Non-Regulated broker. It is NOT SAFE to trade.
Reason to avoid: Offshore License
Listed Date: February 6, 2020
Beware PrimeXBT is a Non-Regulated broker. It is NOT SAFE to trade.
It is not safe to trade with it, as it is an offshore broker. PrimeXBT is owned and operated by two companies, both registered offshore. Trading Services Ltd is a Seychelles company Reg. nr. 206865 and Prime Technologies Ltd. is registered in St. Vincent and Grenadines company nr. 25369BC2019.
🗺️ Registered in | St. Vincent and the Grenadines |
🗺️ Type of License | Offshore License |
🛡️ Is PrimeXBT safe to trade | No |
🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
🖥 Alternative Broker | GO Markets - licensed by ASIC in Australia |
PrimeXBT is a Bitcoin-based platform, offering over 30+ assets including Crypto, Forex, Commodities, and Stock Indices. The company provides traders with access to top-tier liquidity and a wide range of trading tools, while maintaining security, liquidity, enabling a safe and efficient trading environment for everyone. PrimeXBT offers a robust trading system for both beginners (See the list of Best Brokers for Beginners) and professional traders that demand highly reliable market data and performance.
PrimeXBT also claims to provide the highest leverage (See best high leverage forex brokers) across all of the available instruments and platforms and have low trading fees and benefits from the most competitive trading conditions in the market.
Based on the revelations about safety and regulations issues of PrimeXBT, we do not rank positively PrimeXBT, based on our Expert Opinion with over 10 Years of experience in Forex Trading.
Ranking | PrimeXBT | Admiral Markets | Pepperstone |
---|---|---|---|
Our Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
Is Broker safe? | No | Yes | Yes |
Advantages | None | Trading Platforms | Trading Environment |
Taking into consideration our finds and issues regarding the safety of PrimeXBT here are much better Alternatives to PrimeXBT with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below:
PrimeXBT has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.
The United States is one of the countries that is not accepted by PrimeXBT. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for PrimeXBT, you are only permitted to trade with the U.S regulated platforms.
PrimeXBT offers Direct Crypto deposits from your personal crypto Wallets as well as alternative Deposits via Bank/Credit card/SEPA Transfers. Additionally, the in-wallet currency exchange feature allows you to exchange BTC, ETH, USDT and USDC amongst each other directly in your PrimeXBT account.
The PrimeXBT trading engine is specially designed to execute over 12,000 orders per second. The PrimeXBT platform enables cross-margin trading and automatically performs full risk checks after every order. PrimeXBT aggregator provides feeds from multiple vendors to ensure high liquidity on all tradable assets.
PrimeXBT offers its traders a demo account that allows them to hone their trading skills on a free demo account. Traders can gain experience and familiarize themselves with all the valuable tools and features offered on the PrimeXBT platform, before opening a live account and investing for real in the global financial markets.
We never advise trading with a non-licensed broker, since the financial investment service they deliver is not trustable. We strongly recommend opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.
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I had dealing with CrimeXBT, I mean PrimeXBT and it is extremely shady..
2 times the platform froze at critical situations.
I was managing my margin as I had been margin called and they manipulate the market and counter trade and run stop losses which I have screen captures to prove they did this!
I imagine it is a way to harvest bitcoins / cash from unsuspecting clients.
me too Saron
There is now a new scam under the guise of AlphaCoin-Capital. Same two Companies and same scams. They advertise from ‘successful traders’ being named by various (false) commentators on You Tube (Jordan Meyers for example) take your money (BTC) then con you with false trades through their false trader. When you apply to take your winnings they apply ridiculous and false tax and withdrawal fees that they demand you pay upfront. At that point I stopped and have commenced legal proceedings through international lawyers. DO NOT HAVE ANYTHING TO DO WITH THESE TWO COMPANIES
Hey Saron
I also have used Alpah coin with Jordan. I was wondering if you could get in contact with me. My telegram is cuviegod.
Please be in contact.
me too . Perhaps we can act together they have ripped me off 2 . Wh are you using to sue them ?
Hey Saron and Charlie
Please get in touch asap re ACC etc
this motherfuckers steal my money what can i do?