PrimeXBT Broker Reviews and Full Information

What is PrimeXBT?

PrimeXBT is a Bitcoin-based platform offering more than 30 assets, including Crypto, Forex, Commodities and stock Indices. The company offers traders access to the highest quality of liquidity as well as a broad range of trading tools while maintaining safety, liquidity, making it possible to create a safe and secure trading platform for everyone. PrimeXBT provides a reliable trading platform for novice and professionals who need the most reliable market information and performance.

PrimeXBT is also claiming to offer the greatest leverage across all instruments and platforms, and has low fees for trading and benefit in the most competitive conditions for trading on the market.

About PrimeXBT

Licenses & Regulation

Is PrimeXBT Regulated?

It isn't secure to do business with it since it's an online broker. PrimeXBT is operated and owned by two separate companies which are both with offshore registrations. Trading Services Ltd is a Seychelles company registered. nr. 206865 as well as Prime Technologies Ltd. registered in the St. Vincent and Grenadines company no. 25369BC2019.

Both Seychelles as well as St. Vincent and the Grenadines are well-known for their absence of any rules and rules. Because of this, the cost of setting up is minimal and they do not have a regulatory system for the trading of forex. This is why they became offshore areas for fraudulent forex brokers like Hugo's Way, JustForex and others. We also have a extensive review about the dangers that comes with trading brokers who originate from St. Vincent and the Grenadines.

Is PrimeXBT a scam?

PrimeXBT doesn't provide any information regarding its location or contact information. The most reliable and licensed brokers provide the information and keep the contact information available to their customers. This is among the warning signs in the event of trading with the listed broker.

PrimeXBT in India

PrimeXBT does not mention being in compliance with all Indian authorities on its site. It is important to note it is true that Forex trading is illegal in India. The broker is not controlled by any regulatory agency in India and that's the reason the reason why safety of money could be the problem here.

PrimeXBT in the USA

It is the United States is one of the nations that are not recognized by PrimeXBT. According to U.S laws, brokers regulated by CFTC are the sole brokers permitted for USA traders. Therefore, excluding PrimeXBT, you're only allowed to trade on U.S authorized platforms.

Deposits & Withdrawals

PrimeXBT provides Direct Crypto deposit through your crypto wallets and alternative deposits through Bank/Credit cards/SEPA Transfers. In addition the currency exchange in your wallet feature lets you trade BTC or ETH for USDT and USDC with each other directly within your PrimeXBT account.

Alternative deposits allow the purchase of BTC or ETH, as well as erc20 tokens USDC and USDT with a credit Card SEPA or a bank transfer. Gift cards and alternative cryptocurrencies through third-party exchange providers

There are two kinds of fees: trade cost and overnight finance. Trade fee is charged every when you purchase or sell products on the marketplace (i.e. each time you open or close an account). Overnight financing is required for any trade that you carry into the new day of trading (past the time of 00:00 UTC) and is deducted from the balance of your trading account.

Apps

The PrimeXBT trading platform is specifically designed to process more than 12,000 orders per second. The PrimeXBT platform supports cross-margin trades and performs risk assessments after each transaction. PrimeXBT aggregates feeds from multiple vendors , ensuring the highest liquidity for all tradeable assets.

Demo Account

PrimeXBT provides its customers with an account with a demo feature that lets users to develop their trading techniques using a free demo account. Traders can experience the trading process and get acquainted with all the useful tools and features available on the PrimeXBT platform before registering an account in real time and investing real money on the world's financial markets.

Conclusion

In any event it is not recommended to trade with a broker that is not licensed as the financial investment services they offer is not reliable. The reason for this is that The broker might promise the most competitive conditions for trading or the best trading conditions, but the trader does not have any assurance from the official bodies which control the Forex business. Therefore, the agreement to work with this company implies that the trader must trust only the statements of the broker and, of course there is a significant risk.

We strongly suggest to open a trade account with brokers licensed by respected international authorities and adhere to the set of rules and have a solid reputation throughout the period of operation they offer. Traders should use well-regulated brokers, such as UK broker and brokers from Australia and trustworthy brokers like AvaTrade and XM.com.

It is also possible to share your experience trading using PrimeXBT by leaving a comment in this article.