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.
- Our Review
- PrimeXBT User Reviews
- PrimeXBT News
Is PrimeXBT Scam or Legit Broker?
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.
- Both Seychelles and St. Vincent and the Grenadines are notorious for their practically absent requirements and regulations. Due to this, the setup cost is low and it does not regulate forex trading. Therefore, they became offshore zones for shady forex brokers such as Hugo’s Way, JustForex, and more. You can also read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
About PrimeXBT
| 🗺️ 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 |
What is PrimeXBT?
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.
- However, PrimeXBT does not provide any information about its location or any contact details. All the reliable and regulated brokers always provide these details and keep contact information transparent for their clients. This is one of the red flags when it comes to trading with the mentioned broker.
Overall PrimeXBT Ranking
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.
- PrimeXBT Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
| Ranking | PrimeXBT | Admiral Markets | Pepperstone |
|---|---|---|---|
| Our Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
| Is Broker safe? | No | Yes | Yes |
| Advantages | None | Trading Platforms | Trading Environment |
PrimeXBT Alternative Brokers
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:
- FP Markets – Powerful trading technology and ECN environment
- InteractiveBrokers – Good for Trading Real Stocks
- XM – Wide Range of Trading Opportunities
PrimeXBT in India
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.
PrimeXBT in the USA
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.
Deposits & Withdrawals
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.
- Alternative deposits allows you to buy BTC, ETH and erc20 tokens - USDT and USDC - using a Credit Card / SEPA transfers / Gift cards / Alternative Cryptocurrencies via third-party exchange services
- There are two types of fees: Trade fee and Overnight financing. 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). Overnight financing is due for any position that is carried into a new trading day (past 00:00 UTC) and is withheld from the Trading account balance.
Apps
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.
Demo Account
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.
PrimeXBT Review Conclusion
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.
- Overall ranking and experience for PrimeXBT is Negative
No review found...
No news available.
Seems to be quite a biased opinion on the Primexbt broker.
I know that regulation prevails in majority of cases, but speaking about this platform, I should say that this company has a lot of reviews from people.
And actually that was something that made me try them in the first place. And y’all know what, guys, I ain’t regret my decision. Trading cryptos here is full of pleasure.
They offer the best trading conditions. I like that there is a high leverage. Technical support answers my questions quickly and is available 24/7. I recommend everyone start trading here…
I have not seen any like it so far. I have used the platform for some time and I have not seen anything to discredit. So yeah, I do not really agree with the article. Have you traded crypto futures?
From reading the primexbt reviews online, I have come to understand some of the features and services they offer regarding the crypto futures on the platform, but I am not very well versed. The platform has not had any issues with safety, provides a lot of uniques trading opportunities that brokers do not offer… and a lot more. So I do not get why this author says the company is not good.
Can someone who has used the platform clarify?
Just safely disregard his remark, he probaly lost some money trading:)
PrimeXBT is great !
Yeah bro, I liked the platform too.
I think it’s easy to use and has a cool design.
And it’s not just for aesthetics, but to be able to use more user-friendly platform.
What are the advantages of PrimeXBT for its users?
The main one is trading crypto with leverage.
The second one is the extensive market range.
Trading daily with PrimeXBT. A widgets-rich trading platform is straightforward to use. All the necessary widgets are well-positioned, making it intuitive to navigate. The main windows to me are account balance, charting window, and order details. These are all well structured.
Cant disagree with you.Broker knows what traders want as platform fully alligns with customers needs
The primeXBT reviews I have read really do not shy away from mentioning the crypto futures and the margin trading conditions as well. The maximum leverage for trading other CFDs on the platform is quite high as well, and it should also be mentioned more.
But I most especially appreciate the trading terminal itself. It is so modern and easy to use. I like the way that I can switch between tabs. Really smart design.
Yeah bro, I liked the platform too.
I think it’s easy to use and has a cool design.
And it’s not just for aesthetics, but to be able to use more user-friendly platform.
does anyone have an expereince with PrimeXBT’s Copy Trading feature? would you recommend?
I tried copy trading here and can call such trading profitability
you dont need a lot of words to describe the action on primexbt, its simply top notch =)
From the customizable layout of the platform which I truly enjoy, to negligible taker/maker fees to carry out deals in crypto futures; this platform brings the future to you!
PrimeXBT’s seamless trading experience, combined with its competitive leverage, has made it an essential part of my trading routine.
I have had a positive experience with PrimeXBT. The platform’s security and diverse range of assets are impressive.
PrimeXBT has simplified my crypto trading journey. The user-friendly interface and leverage options are fantastic.
PrimeXBT’s platform is designed for serious traders. The advanced tools and responsive customer support make it a standout.
I’ve been able to achieve my financial goals through PrimeXBT. The platform’s features and support have been invaluable.
PrimeXBT’s interface is sleek and the trading options are extensive. It’s a great platform for both new and experienced traders.
I’ve found PrimeXBT to be a reliable platform for trading cryptocurrencies. The security measures are top-notch.
PrimeXBT provides a seamless experience for crypto trading. The leverage has helped me amplify my gains significantly.
PrimeXBT’s platform is user-friendly and the variety of trading options is impressive. It’s a must-try for any serious trader.
PrimeXBT is my preferred platform for trading crypto. The leverage they offer opens up exciting opportunities.
I trust PrimeXBT for all my crypto trades. The platform’s reliability and customer support are unmatched.
PrimeXBT offers a secure trading environment with a range of features that cater to both beginners and experienced traders.
Trading on PrimeXBT has been a profitable journey. The leverage options, coupled with their intuitive platform, make it a top choice.
PrimeXBT combines sleek design with powerful functionality. It’s become an integral part of my trading strategy.
As a professional trader, I appreciate PrimeXBT’s professional-grade tools and the wide array of crypto assets available.
Security and simplicity matter to me. PrimeXBT provides both, along with a diverse range of trading pairs. Highly recommended!
PrimeXBT offers a seamless experience for trading cryptocurrencies. The leverage opportunities have allowed me to maximize my returns.
I’ve been trading on PrimeXBT for years and it’s been a game-changer. The platform’s reliability and advanced features make it exceptional.
PrimeXBT is my go-to platform for crypto trading. The variety of assets, leverage options, and user-friendly interface make it stand out.
Technical analysis has never been so easy. With free access to over 50 indicators, different chart types, and other tools, it’s easier to research different assets with PrimeXBT.
I cannot think of ANY disadvantages when talking about PrimeXBT. For me, it’s a perfect and super-customizable cryptocurrency trading platform!
Making my first deposit to PrimeXBT was a bit inconvenient because I had to create a BTC wallet. I thought depositing in fiat currency would be easier.
Sharing your crypto trading strategy through Covesting from PrimeXBT is quite a good source of extra income!
Last month I moved to the United States. It was a necessity. That’s why, unfortunately, I won’t be able to trade with PrimeXBT anymore. I really liked my previous experience!
When I was choosing a crypto platform for trading, I paid a lot of attention to legal terms. PrimeXBT appeared to be quite a transparent company so I didn’t hesitate.
Spread slippage is a rare occasion on the PrimeXBT trading platform, but still, nobody can be 100% protected against extreme crypto volatility.
I think this platform lacks the diversity of account types. This small improvement would make it more attractive to a bigger number of users.
Amazing! It took me less than a month to make my first good profits from crypto trading with PrimeXBT!
PrimeXBT’s customer support team consists of true professionals who are fully aware of all the technical capabilities and peculiarities of their trading platform.
PrimeXBT is the first crypto exchange in my career that doesn’t impose any verification requirements. That’s a great contribution to user anonymity.
Once I got familiar with PrimeXBT review, I concluded that it would be a good crypto trading platform for me. I’m glad that this conclusion was correct!!!
In recent weeks, I face a little bit slow response from the trading terminal. I’ve already cleared my browser cache but it didn’t fully resolve the issue.
I used to trade cryptocurrencies but when the market crashed, I quickly switched to stocks. I like that PrimeXBT offers such a level of flexibility.
The speed of execution on PrimeXBT is completely satisfactory to me. I work mostly with market execution.
What I like most about PrimeXBT is that this platform is fully web-based. I don’t have to download something, which also cuts down the downtime.
PrimeXBT is one of the simplest crypto trading terminals I have ever used!!! It’s super easy to adjust all its features in accordance with your needs!
I was disappointed when I discovered that PrimeXBT doesn’t offer any automated algorithms or signals. Well, at least the selection of indicators is pretty nice.
I have to admit that the Covesting copy trading platform from PrimeXBT outperformed my expectations. Although it isn’t designed for social trading, it’s the best option for automated trading.
PrimeXBT indeed offers a solid platform for cryptocurrency trading, and while it may lack some advanced technical analysis instruments, it compensates with a high level of customization. Even without access to certain tools, you can maximize the available ones to enhance your trading experience. The platform’s flexibility allows you to adapt and make the most out of the resources at hand. While there may be room for improvement in terms of advanced instruments, PrimeXBT strives to provide a customizable environment for traders.
PrimeXBT’s user-friendly interface is truly commendable, offering a convenient dashboard that caters to all your trading needs. The inclusion of the copy trading module, Covesting, is a great addition, allowing you to easily find and follow experienced traders. With a wide selection of active traders to choose from, it becomes effortless to explore and benefit from their trading strategies. Overall, PrimeXBT’s commitment to providing a seamless and user-centric trading experience is highly appreciated.
I am impressed with the flawless execution of orders on PrimeXBT, and the ability to choose from a variety of order types is a great advantage. The inclusion of stop-loss orders is particularly valuable, considering the higher leverage available. This allows me to effectively manage and limit my risk, ensuring that I don’t expose myself to more than I am willing to lose. PrimeXBT’s commitment to providing robust risk management tools is greatly appreciated.
Initially, I was surprised by the requirements for the withdrawal process, especially with regards to cold storage. However, I soon realized that this level of security is necessary and reassuring. I don’t mind waiting a bit longer for my withdrawals if it means that my funds are kept safe and secure. It’s a small trade-off for the peace of mind that comes with knowing my assets are well-protected.
One of the standout features of PrimeXBT is its diverse range of markets beyond cryptocurrencies. I have found the platform’s various chart types, such as trend lines, to be particularly useful for trading in markets like forex. The ability to access different markets not only provides opportunities for diversification but also helps mitigate potential losses in case of unexpected downturns in the crypto market. It’s a valuable feature that enhances the overall trading experience on PrimeXBT.
Choosing PrimeXBT has proven to be an excellent decision for me. While there are a few considerations to keep in mind, such as ensuring that your browser functions optimally for the web terminal, I have found that clearing the cache can resolve any potential issues and ensure smooth operation. Overall, I have been satisfied with my experience on the platform.
When searching for a new platform, my top priority is safety, and PrimeXBT certainly met my expectations in that regard. I appreciate the platform’s strong security measures and favorable trading conditions. Although there have been instances of spread slippage on certain crypto pairs, I continue to enjoy trading on PrimeXBT because I have confidence that my success is determined solely by my own efforts.
Having come across numerous positive reviews about PrimeXBT’s support, I wanted to share my own feedback as well. I must say, they truly are professionals! Every time I reach out to them, they promptly address all my inquiries and effectively resolve any issues I encounter. I am thoroughly impressed with their level of service and expertise.
Upon registering on PrimeXBT, I initially viewed crypto trading as a supplementary means of earning income. However, as I delve deeper into the market through this platform, my enthusiasm for trading intensifies, and I find myself increasingly inclined to pursue it as a full-time endeavor!
I’m pleased with the overall experience I had on PrimeXBT. The registration process was effortless, without the need for verification or KYC procedures. Additionally, making my first deposit was quick and hassle-free. While it may pose a slight challenge for newcomers to the world of cryptocurrencies, having a BTC wallet in advance ensures a seamless experience.
this motherfuckers steal my money what can i do?
Hey Saron and Charlie
Please get in touch asap re ACC etc
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 ?
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