PrimeXBT Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Own platform
- Trade in cryptocurrencies, currency pairs, indices, resources
- detailed referral program, large leverage, copy trading service
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Own platform
- Trade in cryptocurrencies, currency pairs, indices, resources
- detailed referral program, large leverage, copy trading service
Our Evaluation of PrimeXBT
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
PrimeXBT is a moderate-risk cryptocurrency exchange with the TU Overall Score of 5 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by PrimeXBT clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
The PrimeXBT exchange offers comfortable trading in cryptocurrencies, currencies, and other assets. There are stop loss and take profit functions, and charts with many indicators. Commissions are from 0.001% for margin trading. The site has a convenient service for copying trades, which allows you to receive passive income. Deposits and withdrawals are available in all major ways, including Visa and MC bank cards.
Brief Look at PrimeXBT
The PrimeXBT exchange is an international platform for trading cryptocurrencies, tokenized assets, stock indices, and currency pairs. Cryptocurrencies include Bitcoin, Litecoin, Ethereum, Tether, and others. All crypto assets can be bought and sold for US dollars. Currency assets are traded among themselves, with resources and metals. For example, you can buy and sell silver for US dollars. There is Bitcoin trading with leverage up to 1:1000. The company has developed its own trading terminal, called PrimeXBT, with a built-in function for copying trades; and there are browser and mobile versions. The terminal is distinguished by its high-speed operations and advanced functionalities. There is also a demo account.
- Ability to trade in cryptocurrencies, currencies, indices, and other resources;
- low trading commissions, large leverage;
- several options for the referral program;
- own service for copying trades;
- KYC verification, high level of security;
- simple and convenient trading terminal;
- the company does not have a call center;
- API is not supported.
TU Expert Advice
Financial expert and analyst at Traders Union
The PrimeXBT Crypto exchange complies with the leading standards in functionality and order processing speed. The standard execution speed does not exceed 20 ms. Typical KYC verification is supplemented with its own software that protects user information. All transactions are carried out anonymously. The site has a high level of security. There is a license, the company is based in Seychelles.
Prime XBT offers the largest leverage of 1:1000 for margin trading. There are not as many cryptocurrencies as some other services, but the most popular ones such as Bitcoin, Litecoin, Ethereum, and others are present. They are traded among themselves and with the US dollar. The pairs are not represented with another fiat. However, PrimeXBT has a Forex trading service with currencies, indices, and natural resources, including gas, oil, and precious metals.
Separately, I’d like to note the availability of a service for copying trades. It is typical, but such services are rarely found on crypto exchanges. Copying trades allows traders who do not want to trade themselves, as well as traders who are willing to share their strategies with others for a moderate financial reward, to passively earn money. Technically, the service is made as simple as possible, even a beginner will have no difficulties.
Of the minuses, we can note the lack of a call center, which is the standard for the vast majority of cryptocurrency exchanges. Also, the service does not have an API, which is not a critical flaw but acts as a limiting factor for business projects wishing to cooperate. The PrimeXBT Crypto exchange is recommended for review as a convenient and reliable platform.
PrimeXBT Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Own platform |
|---|---|
| 📊 Accounts: | Standard, Demo |
| 💰 Account currency: | Cryptocurrencies, currencies |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | up to 1:1000 (up to 1:100 for copy-trading, up to 1:200 for BTC) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies, indices, natural resources |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | Trade in cryptocurrencies, currency pairs, indices, resources; detailed referral program, large leverage, copy trading service |
| 🎁 Contests and bonuses: | No data |
You can deposit funds from other cryptocurrency wallets, as well as from bank accounts, and cards. PrimeXBT does not charge deposit fees. The maximum leverage is 1:1000 for margin trading and 1:100 for the trade copy service. Communication with technical support is via email and through social networks. The table below shows the rest of the trading conditions of the service.
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Commissions and fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 0.001% per order | No |
The Prime XBT crypto exchange offers one of the lowest trading fees. Due to the nonexistence of additional fees, traders experience comfortable trading conditions. Here's a comparison with Prime XBT’s fees by its competitors:
| Broker | Average commission | Level |
|---|---|---|
|
$0.01 | |
|
$20 | |
|
$0.1 |
Investment Options
The PrimeXBT crypto exchange does not have investment programs. However, traders have access to passive earnings due to the copy trades function. This is a service for copying trades, it allows the user to duplicate trade settings on the trade by taking them from another user for a small fee.
You need to log in to the website or mobile application and go to the Covesting tab in your personal account.
After that, select from the list of available traders the one whose strategy seems to you the most successful and click Follow.
Choose the amount you are willing to invest in the trade. The amount does not have to correspond to the amount deposited by the trader from whom you are copying the trade.
Next, you need to wait for the order to be executed. If the trade is successful, you will receive a profit according to the invested amount, minus the service commission and payment to the trader from whom you copied the trade.
The minimum amount to participate in copy-trading is 0.001 BTC. There is no upper limit. You control your own contributions.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
PrimeXBT’s affiliate program
Prime XBT’s affiliate program does not differ from similar programs at other crypto exchanges. It allows you to profit from the commissions of invited traders. To participate you need to:
Register on the exchange and go through verification. After that, a personal link will be available in your personal account. This link can be sent to other people or published in blogs and other sources.
Each user who registers on Prime XBT through your link becomes your referral. You receive a percentage of the commissions of your referrals, a fixed reward, or a combined bonus.
According to the standard affiliate program, you can receive up to 70% of the commissions of each referral, depending on the volume of his trades. According to an alternative program, you can be credited $40-1,250 for each client referred.
There is a hybrid version of the program, where you receive a fixed payment for each referral and in the future, you will also receive income from his commissions.
Please note that the percentage of referral commissions is calculated individually, depending on the trading volume. A one-time payment is also calculated individually (it depends on the general activity of the referral). All data can be seen in the corresponding section of the personal account, where there are also detailed statistics on income from the program, including forecasts.
PrimeXBT offers additional options for ambassadors. You can become an Ambassador by fulfilling the relevant conditions (requirements change frequently, so you need to check the current details on the website). As a rule, these are the owners of large channels, blogs, and public spaces. Ambassadors receive personalized trading conditions, higher referral payouts, and discounts on commissions on their trades.
User Satisfaction