PrimeXBT Broker Review 2024

PrimeXBT provides access to Forex, 100+ CFDs, and Spot/Futures Crypto markets via its proprietary WebTrader and Android/iOS applications. What are the conditions to trade these assets on PrimeXBT broker?

We’ll explore the account types, promo codes, support channels, payment options, trading fees, leverage options, KYC procedure, and many more in this PrimeXBT review.

PrimeXBT; An Introduction to the Company and its Regulatory Status

PrimeXBT was established in 2018 in South Africa. The company uses multiple entities to provide various services through its web platform and mobile applications. PrimeXBT regulations:

• The Financial Services Authority of Seychelles (FSA), with license No. SD162;
• The Lithuania FCIS (registration No. 306038128);
• The South Africa FSCA (license No. 45697);
• Banco Central de Reserva (BCR), with registration No. 66d10393e8a00a3181b8e457;
• The Financial Services Commission of Mauritius (FSC), with license No. GB24203383.

PrimeXBT Table of Specifications

PrimeXBT has recently introduced its state-of-the-art Crypto Futures trading platform, bringing many innovative features and improvements to the table. Here's a breakdown of the PrimeXBT key specifications.

PrimeXBT Account Offerings

The broker provides all of its services with an all-in-one solution, the Standard. It also offers a $10,000 practice account. Key features of the PrimeXBT Standard:

• Leverage options of up to 1:1000;
• Spreads from 0.1 pips;
• No commissions (except for Crypto);
• Minimum deposit of $15;
• Limit, Stop, and Asset order types.

PrimeXBT Broker Registration and KYC Verification

PrimeXBT implements Know Your Customer (KYC) procedures to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. The KYC process involves verifying the identity of customers through personal information and official identification documents.

1. Visit the broker’s official website;
2. Click “Open Account”;
3. Provide an email address and set a password;
4. Enter the OTC sent to your email;
5. Select your country of residence;
6. Perform a liveness check;
7. Provide proof of ID (passport or driving license).

PrimeXBT Platform Offerings

The next topic in this PrimeXBT review is the trading platform. The company primarily focuses on providing its proprietary platform for web browsers and mobile devices. PrimeXBT download links:

• Android;
• iOS.

Note that the broker also offers the MT5 platform through its regulated partner in Seychelles, PXBT Trading Ltd. However, to use the MT5 platform, you’ll need to switch brokers and open a separate account on PXBT.com with different terms and conditions.

PrimeXBT Fees and Commissions

The lack of transparency in the fee structure is one of the PrimeXBT’s biggest downsides. The company boasts 0.0% fees and tight spreads from 0.1 pips. The company also offers Crypto Futures trading on its platform with TradingView charts. Here are the maker/taker fees for PrimeXBT Futures trading fee.

Supported Payment Methods on PrimeXBT

The company offers two main payment options, including Fiat and Crypto. While deposits are without fees, withdrawal commissions start from 0.05%, variable based on the voucher or the blockchain.

• Bank transfers;
• Credit/Debit Cards;
• e-Wallets (Perfect Money, Volet, Binance Pay);
• Crypto (BTC, ETH, LTC, USDT, and many more).

PrimeXBT Broker Copy Trading

The broker’s Copy Trading platform allows users to automatically replicate the trades of experienced traders. It also enables money managers to develop their strategies and earn profits of up to 20%. Key features of PrimeXBT Copy trading:

• Earn up to 75% profit share as a follower and up to 20% as a strategy provider;
• Copy trade Cryptocurrency markets alongside traditional assets (Forex, Commodities, and Indices);
• Membership plans offering increased profit share and reduced trading fees;
• Comprehensive risk management tools (stop loss, take profit orders);
• User-friendly interface for both new and experienced traders.

PrimeXBT Promotional Programs

PrimeXBT offers several partnership and affiliate programs alongside a wide range of seasonal bonus plans.

• Partnership: Earn up to $2,500 CPA per client and up to 50% revenue share;
• Deposit: Up to $500;
• Trading Tasks: complete various tasks to receive extra funds;
• Seasonal PROMO codes: Halloween $1000 trading bonus, 1 ETH for Ethereum’s birthday, and many more.

PrimeXBT Support Channels

The company provides comprehensive 24/7 customer support through multiple channels, including:

PrimeXBT User Satisfaction

Trust score is one of the most important topics in this PrimeXBT review. Based on reviews from platforms like TrustPilot, Forex Peace Army, and Reviews.io, the company generally has received positive user feedback.

Conclusion and Final Words

PrimeXBT is a multi-asset brokerage regulated by FSCA, a trusted financial authority. While the broker provides access to leverage options of up to 1:1000 and a copy trading service, among other benefits, the lack of transparency in cost structure and the limited list of trading symbols are the PrimeXBT broker’s significant downsides.

Overall, despite its drawbacks, the broker seems a reliable and trustworthy choice, considering its licenses and a great score of 4.2 out of 5.0 on TrustPilot. Share your thoughts about the PrimeXBT review in the comments.