alexa certify
3
General Information
Broker Name:PrimeXBT
Broker Type:STP
Country:St. Vincent & Grenadines
Operating since year:
2018
Regulation:-
Broker status:Active
Customer Service
Phone:
N/A
Email:[email protected], [email protected]
Languages:English, Chinese, German, French, Turkish, Vietnamese, Japan, Korean
Availability:
24/7
Trading
Trading platforms:
Proprietary
Trading platform Time zone:
GMT +2
Demo account:
YES
Mobile trading:
YES
Web-based trading:
YES
Bonuses:
YES
Other trading instruments:YES
Account
Minimum deposit ($):0.001 BTC
Maximal leverage:1:100
Spread:
Variable
Scalping allowed:N/A

Prime XBT Review Contents:

  1. Prime XBT Review
  2. General Information
  3. Prime  XBT Order Types
  4. Prime XBT Trading Fees
  5. The Prime XBT Withdrawal Fees and Deposit Methods
  6. Prime XBT Trading Platform
  7. Prime XTB Education: Tutorials and Guides
  8. Customer Support
  9. Conclusion

 

Prime XBT Review

Prime XBT is a Bitcoin-based platform that offers leveraged trading on digital assets, including Bitcoin, Ethereum, Litecoin, and Ripple. The broker provides clients with broad access to top-tier liquidity and a wide range of trading tools while maintaining liquidity security. It also enables a safe and efficient trading environment for everyone, whether they are beginners or expert traders.

Prime XBT Review, Prime XBT Review

Traders of all experience levels can easily design and customize layouts and widgets to best fit their trading style. The web-page’s entire interface is designed to facilitate a high number of orders per second and extreme loads.

Prime XTB provides ultra-fast order execution and low latency. The broker is very proud to offer such innovative products and professional trading conditions to all our customers.

PrimeXBT Key Opportunities:

  • No KYC (KNOW YOUR CUSTOMER) requirement for traders
  • The minimum deposit offered by the brokers is equal to 0.001 BTC (about $10)
  • Improved security and privacy
  • You’ll get a chance of enjoying instant Bitcoin deposits with the opportunity to buy BTC using a credit card in the client dashboard
  • Leverage up to 1:1000
  • Trade cryptocurrencies, S&P 500, Gold, EUR/USD and more than 30 other assets

 

General Information

Prime XBT is a Bitcoin-based platform that offers leveraged trading on several digital assets, including Bitcoin, Ethereum, Litecoin, and Ripple.

The company was founded in early 2018. From the very first day its grown exponentially and currently serves clients in up to 150 countries. They provide traders with access to top-tier liquidity and a wide range of trading tools, liquidity, while maintaining security, enabling a safe and efficient trading environment for everyone.

 

Prime XBT Order Types: What else is there? 

PrimeXBT offers an overall list of standard order types,  as well as some protection orders. These include:

Prime XBT Review, Prime XBT Review

Stop Market Orders –  These are orders that turn into market orders the moment that a certain level of the order has been reached. The traders use this order type to limit the losses on their position or to make profit in a favorable position.

Market Order – This is one of the more traditional and common order types, and it will be placed and executed immediately at the prevailing market price. The trader can use this type of order in case he or she wants to either sell or buy quickly.  

Limit Order – This is an order placed to buy or sell an asset at a pre-specified level. Usually, the moment that the market touches this level, the order is momentarily executed.

Protection Orders – These types of orders are available as additional protection on any position that the client has. These are placed on new Limit, Market, or Stop orders. On PrimeXTB’s web-page, traders can set up the protection orders to go with their main order above it.

OCO, also known as One-Cancels-the-Other – These are a set of orders whereby the execution of one order will cancel the other. Here, the number “1” order will be your main order, and if this is executed, the other will be canceled.

Given the amount of leverage that you will be trading with as well as the volatility in the crypto markets, we would suggest that you make use of the protection orders – for your good.

 

The Trading Fees at Prime XBT

PrimeXBT offers a third of the industry average taker fee for crypto derivative exchanges.

It is quite common to charge ticket fees. Thus, a lot of exchanges and companies do that. Many crypto exchanges charge what is called a taker fee, from the takers. Additionally, they charge what is called a maker fee, from the makers. If you have never heard this term, takers are the people who remove liquidity from the order book by accepting already placed 

Prime XBT Review, Prime XBT Review

orders.  Meanwhile, makers are the ones placing those orders. The main alternative to this is to charge “flat” fees only, which means that the exchange charges the taker and the maker the same price.

This exchange offers a meager flat fee: 0.05% per trade. This is indeed a competitive fee—the majority of transactions offering derivatives trading charge 0.075% in taker fees.

 

Withdrawal Fees and Deposit Methods 

Another quite standard fee to consider before choosing any type of broker or an exchanger is the withdrawal fee.  Usually, this type of payment This type of payment is usually fixed, regardless of the number of units withdrawn from the account.

Prime XBT Review, Prime XBT Review

The global industry average withdrawal fee is no more than a mere 0,000812 BTC. PrimeXBT only charges you 0.0005 BTC. Accordingly, their BTC-withdrawal price is a whole 40% lower than the industry average.

At PrimeBTX, clients can’t deposit via wire transfer. However,  credit card deposits are perfectly fine.

 

Prime XBT Trading Platform

Trading or exchanging is unimaginable without a platform. Prime XBT offers a live trading platform. Before opening an account, the client gets an opportunity of trying the platform out. The preview version of the platform is super user-friendly, simple, and incredibly similar to the real version.

However, there is a small difference, and it is in the very bottom section of the screen labeled Positions. In that case, the client has a live account, where they would see a list of positions with the following columns for each: position ID, symbol, date and time, size, side, fill price, current price, take profit, stop loss, and P/L.

Prime XBT Review, Prime XBT Review

Trading Screen

 

Overall, the trading platform is precisely what one would expect. On the top left side of the screen, you will see a list of cryptocurrency pairs, which include: BTC/USD, EOS/USD, LTC/USD, ETH/USD, and XRP/USD. For each pair, there is an ask price, the bid price, and change. These figures are easy to distinguish as they have color-coding in white, green, or red – for example, green indicates an increase while red indicates a decrease.

Clicking on any of the pairs listed on the trading screen will bring the client to a screen that lets to buy or sell the crypto in question. It will display the prices for buying and marketing, as well as the low and high for the pair.

Prime XBT Review, Prime XBT Review

The main section of the trading page is the actual chart, which is directly to the right of the crypto listings and Order Book and takes up most of the page. The Order Book displays the information for whichever currency pair you most recently selected from the top left corner. The Order Book has an additional list of the quantities and prices that displays the charts in green and red.  It is easy to adjust to the client’s preferences and needs.

Trading is available anytime, anywhere, thanks to various apps on iOS, Windows, and mobiles.

 

Overall, what you need to know about Prime XBT:

  • The average order execution speed is 7.12 ms
  • There are more than 12 integrated liquidity providers
  • Executed order per the second number reaches 12 000
  • $545,000,000 is an average trading volume per day

 

Also, our Amazon AWS servers execute all trades on the Prime XBT trading platform.

 

Prime XBT Education: Tutorials and Guides

 

Trader education is essential. Brokers that provide decent information and educational material to their traders are the ones who aim to have a long-lasting relationship with their clients. PrimeXBT is no exception.

Prime XBT Review, Prime XBT Review

It’s always a nice touch when a broker includes additional material to help their traders’ trading experience.  

In case the broker has issues with the PrimeXBT Trading platform, he or she can always use the crypto broker’s platform guide. This is available in the information section of the website.

If you are still struggling to use their trading platform, then you can always head on over to their platform guide. This is available within the “Information” section in your when you are logged into your account.

We enjoyed the professionally presented and well executed guide.  It includes all types of information like how to bid, trade futures products, place orders, stop-losses and protection orders, account funding, and safety measures.  

Prime XBT Review, Prime XBT Review

Finally, we would like to say that we were enticed by Prime XBT’s pretty unique medium blog. We found a  lot of additional information on how to trade futures products.

 

Customer Support at Prime XBT

PrimeXTB provides 24/7 customer support.  In case the client has any issues or questions, they can contact the support via e-mail – [email protected]. Prime XBT has not palmed their support function off to some offshore location with people who don’t know what they are talking about.

Unfortunately, there is no phone line, so clients will not be able to reach the operator’s live. However, there is an online chat available on the website.

 

Prime XBT Review Conclusion

Overall, working and using the tools provided by the broker has been quite enjoyable. Our team of experts believes that this website is a beautiful place to go and exchange BTC or any other crypto.

Prime XBT has created a fantastic offering in the crowded cryptocurrency trading space.

The trading platform is easy and very pleasant to use. It stands out from the competition with its tight spreads, low commissions, and class-leading leverage of 1:100.

However, even though we recommend Prime XBT, we would like to advise anyone interested to proceed with caution. It’s quite easy to get things wrong and end up being liquidated and losing your cryptocurrency in this way, especially if you are employing a high amount of leverage.

PrimeXBT Review
  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 5 (3 reviews)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!

3 Comments

  1. natalya kantenko July 1, 2020
  2. emma hart June 30, 2020
  3. john trey June 30, 2020

Leave a Reply

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spread
    Sending
  • Trading Instrument
    Sending

Subscribe to Our Newsletters

Have the best of Finance Brokerage News delivered directly to your mailbox. Subscribe now to receive the latest market news.