Prime XBT Review 2024

Introduction

Prime XBT is an online exchange platform that provides various assets like crypto, forex, indices and commodities to trade with. Prime XBT review, we’ll break down the broker’s features and help you make an informed decision. Before diving into the details, check out a quick overview of Prime XBT below:

FOUNDED IN	2018
HEADQUARTERS	Marshall Islands
REGULATORS	Denmark FSA
MINIMUM DEPOSIT	$100
PLATFORMS OFFERED	Prime XBT
TRADING INSTRUMENTS	Crypto, Forex, Indices and Commodities
ACCOUNT CURRENCY	USD and Cryptocurrencies (Bitcoin, ETH, USDT, USDC & COV)
MAXIMUM LEVERAGE	1:100
CUSTOMER SUPPORT	24/5
DEPOSIT OPTIONS	Perfect Money, Adc Cash and crypto
COMMISSION	Yes
SPREADS	From 0.5 pips
MOBILE TRADING	Yes
AFFILIATE PROGRAMME	Yes
CONTESTS AND BONUSES	Yes

What is Prime XBT?

Prime XBT is an online forex exchange platform founded in 2018 with a large client base across 150 countries. The broker has a secure and reliable infrastructure backed by Amazon Web Services. 

Moreover, the broker offers advanced features like high liquidity, a variety of trading tools, fast order execution up to 7.12 ms on average, and 110+ trading assets. With Prime XBT, you can design and customise layouts and widgets and experience real-time risk management. 

Is Prime XBT Regulated?

Prime XBT is a Marshall Island-based forex broker that operates legally under the jurisdiction of the Republic of Marshall Islands, and as per the law, it does not require a licence to provide its services internationally.

But the broker does have an authentic registration no. 120813 under RMI. The broker is also operational in Seychelles and is registered under the Republic of Seychelles with the registration number 217308. 

Account Type Offered by Prime XBT

Prime XBT brokers offer a single account with a minimum deposit of $100, which users can sign up for from the website. This might be a drawback for the broker as account types allow users to choose as per their preference and trading strategy. The broker also lacks a demo account but you can get access to a free demo account with advanced trading tools from the TradeEU Broker.

How to Open a Prime XBT Account?

To open an account with Prime XBT, simply follow the steps given below:

• Go to the broker’s website, primexbt.com
• Locate the register button from the top right corner and click 
• Check if the broker is available in your region 
• If yes, then register by entering the required details. 
• Verify your account and start trading!

Prime XBT Login: 

The login process for this broker is easy and convenient. You can log in using your Prime XBT login credentials, Google account, or Apple ID. To log in, follow the steps below:

• Go to the broker’s official website, primexbt.com
• Enter your login credentials or log in through Apple or Google IDs
• Make a deposit and start trading!

Trading Platforms Offered by Prime XBT

The broker offers an award-winning propriety trading platform, Prime XBT, but lacks renowned trading platforms like MT4 and MT5. You can check Capitalix Broker for unlimited features on the Mt4 and Mt5 platforms. The features offered by the broker’s propriety platform are as follows: 

• Access to Global Markets 
• Advanced trading tools 
• 24/7 customer support 
• Great trading conditions with low fees. 

Mobile Application 

The broker offers trading through a mobile application for added flexibility and convenience. The app is supported on Apple and Android devices. You can download the Prime XBT app with the following steps: 

• Go to the broker’s website 
• Locate and click on the download links for Apple or Android 
• You’ll be redirected to the Apple or Google Play Store
• Click on download 
• Enter login credentials or sign up using Google or Apple IDs
• Start Trading!

Pros and Cons of Trading with Prime XBT

Pros	Cons
24/7 Customer Support	No MT4 and MT5 platforms
Competitive fees	No demo account
Variety of trading tools and assets
Rewards and bonuses.
Asset Protection
Educational Resources

Prime XBT Deposit and Withdrawal

This broker has different deposit and withdrawal methods including crypto payments, cash or e-payments via wallet and more. Let’s check the process in detail: 

Deposit 

For deposit, you can opt for crypto payments and transfers which include Bitcoin, ETH, USDT, USDC and COV cryptocurrencies. To make the payment, follow the steps given below:

• Go to the broker website and log in.
• Go to “my account”.
• Select your payment method.
• For cash payment check on the deposit button.

• For crypto payment, select which cryptocurrency from the drop-down menu.
• Select payment destination.
• Then you can either scan the QR code or go to the address link and complete the payment.

• To deposit via cash, simply select the cash option, payment method, currency and payment destination and enter. 

If you wish to deposit via cryptocurrency but do not have it, then you can purchase it via MasterCard or Visa payment. 

Withdrawals

The withdrawal window for this broker is open  24/7 and the pending payments are processed once a day between 12 pm to 2 pm Universal Standard Time. If you make a withdrawal request after 12 pm, it will be processed the next day. The maximum withdrawal amount is $20000 and equivalent cryptocurrencies. 

To withdraw money from your Prime XBT accounts, follow the steps below:

• Go to the broker website and log in. 
• Then go to the main menu select your currency and click withdraw.

• Once you click on withdraw, the withdrawal window will appear. 

• Now simply, select the currency, withdrawal address, and amount and click withdraw.
• Confirm your withdrawal request through email.
• Now, your money will reach your withdrawal destination within 24 hours. 

Assets and Tools Offered by Prime XBT

The broker has beneficial trading tools like price charts, technical indicators, and more through which you can ease your trade management and create effective strategies. The broker offers 4 popular assets, including cryptocurrency, commodities, indices, and forex. Let’s look at the assets offered by the broker in detail: 

Cryptocurrency

You can trade with trending cryptocurrencies on the global marketplace with features like customised charting, 50 technical indicators, high liquidity, and fast order execution speed. The broker offers more than 40 cryptocurrency pairs and some of the popular pairs are as follows:

• BTC/USD
• ETH/USD
• LTC/USD
• XRP/USD
• EOS/USD
• ADA/USD
• DOT/USD
• BNB/USD
• LUNA/USD
• AVAX/USD
• MATIC/USD
• SHIB/USD
• ATOM/USD
• NEAR/USD
• ALGO/USD
• TRX/USD
• FTT/USD
• FTM/USD
• XLM/USD
• MANA/USD
• ICP/USD
• SAND/USD
• VET/USD
• XTZ/USD
• FIL/USD
• EGLD/USD
• AXS/USD
• KLAY/USD
• HNT/USD
• THETA/USD
• XMR/USD
• SOL/USD
• UNI/USD
• LINK/USD
• DOGE/USD
• ETH/BTC
• LTC/BTC
• EOS/BTC
• XRP/BTC
• ADA/BTC
• DOT/BTC

Indices

Prime XBT allows you to trade on popular indices like NASDAQ 100, ASX 200, and S&P 500, on global markets with advanced trading tools, order types, and platform customization. You can open long and short positions on the orders as per your strategy with low trading fees. The broker offers the following indices:

• GER30
• SP500
• NASDAQ
• HK-HSI
• AUS200
• JAPAN
• UK100
• DOWN
• EUR50
• FRANCE
• SPAIN

Forex

The broker offers a large number of forex currencies that are popular worldwide. You can trade on forex currency pairs with the help of advanced charting tools, professional trading tools and low trading fees. Some of the Prime XBT forex pairs include: 

• EUR/USD
• GBP/USD
• AUD/CAD
• AUD/CHF
• AUD/JPY
• AUD/USD
• EUR/AUD
• EUR/CAD
• EUR/CHF
• EUR/GBP
• EUR/JP

Commodities

Commodities like oil, natural gas, etc. can have a great potential profit as these asset prices tend to increase. With this broker, you can trade on popular commodities with the help of customisable charts and technical indicators and experience high asset security at a low trading fee. Check out the commodities offered by the broker below: 

• GOLD
• SILVER
• ALUMINIUM
• COPPER
• LEAD
• NICKEL
• ZINC
• BRENT
• CRUDE
• NAT.GAS

Prime XBT Fees, Leverage, and Spreads

The broker offers leveraged trading options which vary as per the currency pairs and lets you make money on both the rise and fall of the market. You can check the leverage offered on different currency pairs through the contract specification option on the website. 

The Prime XBT leverage is 1:100 which means that you have to pay 1% or $1000 of your 100,000th trade potion and earn profits if the asset increases in value. 

The website has no information regarding the broker’s spreads and commissions, but its fast order execution speed and high liquidity show that it has tight spreads. To trade with brokers with fixed leverage and spread opt for Equiity Broker. The fee for opening an XBT Prime account is $100, but you can also deposit $500 to earn the welcome bonus.

Prime XBT Copy Trading 

The broker offers copy trading that lets you copy trades of expert and professional traders. To copy trades using Prime XBT, follow the steps below:

• Research and select a trader 
• Choose the amount you wish to trade
• Start following the trades and earn the same profits as the experts. 
• Start copy trading by going to the broker’s website, selecting the copy trading option and clicking on the “get started” button.

Bonuses, Rewards and Contests by Prime XBT 

Apart from offering competent trading tools and platform, you can get additional benefits from the broker’s rewards, contests and bonuses 

Welcome Bonus

The broker offers a welcome bonus which is only active for 48 hours and can be redeemed after depositing within the time frame. Moreover, the Prime XBT bonus will only activate after depositing $500 instead of the minimum deposit. There are other bonuses like Easy Start, trade & earn, and Whale Trader which you can redeem based on your trading volume.

Contests 

The broker offers contests for all users where you can participate in trading using virtual money and earn high returns to win prizes. If you wish to participate, you can do that through a few simple steps: 

• Open a Prime XBT account 
• Trade using virtual funds and earn high returns 
• Beat other traders’ returns and win prizes. 

Remember that the contests are time-bound, so look for the latest contests and participate ASAP. Currently, the broker offers three different contests: the Global Markets demo, the Crypto features demo and the Tarder Omer Contest. 

To clients with more than 10K active members or followers, the broker offers an opportunity to curate their contests. If you have a large number of followers, you can design your contest using the broker’s resources with no additional charges. 

Educational Resources Offered by Prime XBT

The broker offers a variety of educational resources including blogs, market research data and a comprehensive academic course. Let’s look at each resource in detail: 

Academy 

The course offered by the broker caters to the needs of both experienced and novice traders by covering basic and detailed information on trading. You can opt for any of the courses offered by the broker based on your preference. 

Market Research 

You can get access to a large number of market research articles, which are based on the most recent updates in the forex market. 

Blogs 

The broker also has blogs on various trading-related topics, which include definitions, history of trading etc. Refer to the image below to get an idea of the blog posts offered by the broker. 

Guide Videos 

The broker also has several guide videos including “how to” videos for you to understand the process of trading with Prime XBT better. 

Customer Support 

Customer support for Prime XBT is available 24/7 through live chat on the website and email. You can connect with the broker’s customer support team via the official email ID- [email protected]. 

We tried the customer support live chat on the website and found it effective with prompt replies. 

Conclusion 

The Prime XBT broker has great features, including strong customer support, various assets, advanced trading tools, asset security and more. However, the broker lacks certain features like flexible account types, advanced trading platforms like MT4 and MT5 etc. Overall, the broker has pros and cons, but due to its proper regulation and decent reputation, it can be considered a good platform for online trading and currency exchange. 

FAQs

Is Prime XBT legit?

Yes, Prime XBT is legit as it is registered under the Republic of Marshall Island under registration no. 120813. It is also registered under the Republic of Seychelles with the registration number 217308, making it an authentic and reliable broker.

What is Prime XBT?

Prime XBT is an online trading and currency exchange platform, offering trading on various assets like indices, commodities, cryptocurrency and forex pairs.

Does Prime XBT have a demo account?

No, the broker does not have a demo account for performing active trades, but if you are interested, you can join the trading contests which include demo trades using virtual currency. 

What markets can I trade on Prime XBT?

The broker lets you trade on various assets including indices, cryptocurrency, commodities and forex pairs. 

How to purchase cryptocurrency on Prime XBT?

To purchase cryptocurrency on the broker platform, follow the steps below:

• Go to the broker website and log in 
• Click on the “Buy Crypto” button from the dashboard
• Once the purchase window opens, enter the currency you will pay with and the amount. 
• Make the payment

Does Prime XBT offer a KYC policy?

No, the broker does not offer a KYC policy to protect the private information of the users.