PrimeXBT Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
PrimeXBT was established in 2018, and since its first day of operation, it
has had exponential growth, and it now provides services to customers in more
than 150 countries. PrimeXBT gives its customers access to top-tier liquidity
and a broad variety of trading tools, all while preserving security and
liquidity. This creates an atmosphere that is both secure and effective for
trading, which benefits everyone involved. Visit
Everything that PrimeXBT does, from its continual investments in research and development to its constant extension of the product offering it provides to customers, serves as evidence of how dynamic and adaptable PrimeXBT actually is. It is always PrimeXBT's goal to serve the best interests of its customers and to continue offering the most advanced and successful digital asset trading experience available in the market today.
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PrimeXBT provides several safeguards for its customers, including mandatory address whitelisting, two-factor authentication, and a great deal more besides. Account passwords are guarded by cryptographic hashing, and the website employs SSL encryption and Cloudflare DDoS protection to prevent any unscheduled outage. The end result is a secure, dependable, and cutting-edge trading platform that has never been compromised by a hacker and has an uptime of 99.9 percent.
Here is a look at how PrimeXBT continuously gets the job done, protects the money of its users from any infiltration attempts, hacks, or even worse, and maintains complete AML compliance at the same time.
Since the beginning of PrimeXBT's operations, services have only been available to those residing in a few number of countries throughout the world. PrimeXBT has stipulated that in order for them to supply its services, the customer must not be a resident of one of the banned countries. These limited countries are as follows:
North Korea (DPRK)
Minor Outlying Islands of the United States of America
Russia's Federal Government
The Caribbean nation of Saint Vincent and the Grenadines
Access to PrimeXBT services does not necessarily mean that client activities through the service are legal under local laws, regulations, or directives associated with a client's country of residence. As a result, it is extremely important for every client to consult with legal and tax advisors in his region regarding eligibility to utilize such services.
According to the findings of recent studies, restricting users' IP addresses
strictly on a country-by-country basis is not an effective method for preventing
unwanted access by users located in restricted areas. For example, virtual
private network (VPN) software may be used to conceal an IP address. If IP
addresses to certain countries are barred, then unconstrained users may wind up
being unfairly blocked while they are traveling, which might result in financial
losses owing to an inability to trade.
PrimeXBT has created a method that requires every client to validate their nation of residency during the time of user registration and before continuing to use PrimeXBT services. This is done so that the company can address these difficulties and guarantee that compliance is maintained.
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IP checking was also added, and as a result, users will receive an extra warning and be asked to confirm their residence if their IP address does not correspond to the nation that was initially selected. An email confirmation will be sent to the user's specified email address as soon as the user confirms their option, along with a timestamp indicating when they made their pick.
In addition, the PrimeXBT compliance department reserves the right to ask for additional documentation at any time while a customer is using PrimeXBT services. This may include a proof of address, ID forms, and other types of documentation, depending on a variety of factors such as the total amount that has been transacted or the activity of the customer.
If it is discovered by the compliance team or any other member of the PrimeXBT team that a user has submitted inaccurate information regarding his or her residence, the user's trading account will be limited immediately.
However, as a result of the rapid proliferation of new technologies, products, and related services, not only has this sparked incredible innovation and inclusion in the world of finance, but it has also created new avenues through which criminals and terrorists can launder their proceeds or fund illicit financial activities.
FATF has provided all Virtual Asset Service Providers with a set of rules and suggestions, and PrimeXBT has established an internal risk-based approach for AML compliance. This was done in accordance with these guidelines and recommendations. Regarding record-keeping, risk assessment of each customer, reporting incidents to appropriate authorities, ongoing monitoring, and AML/TF measures, PrimeXBT has established and strictly maintains appropriate and risk-sensitive policies, internal controls, and procedures proportionate to its nature and size. These policies and procedures are all proportionate to PrimeXBT's nature and size.
To ensure that all PrimeXBT personnel is well-versed in all aspects of compliance, the compliance team regularly conducts in-depth AML/TF compliance training. This training covers topics such as how the internal system operates, what risk assessment information is provided, what does or does not need to be reported to the appropriate authorities, and what other actions may be required depending on the circumstances.
PrimeXBT uses Bitfury's Crystal AML compliance software and blockchain monitoring toolset on all incoming transactions. This is done so that PrimeXBT can ensure the exclusion of bad actors who have obtained cryptocurrency through illegal or illicit means, or whose cryptocurrency originates from a known wallet associated with an exchange hack, the dark web, or other such locations.
Crystal analytics technologies guarantee that PrimeXBT's AML procedures conform with worldwide legislation, hence improving PrimeXBT clients' safety and security. Any assets that are deposited to PrimeXBT are given a risk score based on Crystal's proprietary algorithm. This score offers extensive background information on the history of the item in question as well as the wallets from which it came. This improves PrimeXBT's overall security and contributes to the promotion of a more secure financial community on a worldwide scale.
Through the utilization of Bitfury's Crystal, PrimeXBT is able to properly identify and segregate any digital currencies that are connected to malicious actors, such as hackers or terrorists, or that were involved in a criminal activity, such as money laundering. In addition, PrimeXBT does not permit the use of anonymous cryptocurrencies or those that obscure blockchain data for transactions.
As part of their anti-money laundering (AML) program, PrimeXBT uses financial monitoring processes that are industry-standard in order to bring to their customers' attention any assets or actions that could need extra CDD (customer due-diligence) analysis. PrimeXBT reiterates that it retains the right to seek additional evidence in order to guarantee that its services are not exploited and that the user is not in violation of any AML rules.
PrimeXBT is a respectable company that takes its position as a participant in the global financial system very seriously and works together with the relevant authorities to combat money laundering and terrorist financing (Money Laundering and Terrorist Financing). In the event that authorities make a request concerning transactions that are thought to involve illegal activities, PrimeXBT is required to collaborate closely with law enforcement representatives in order to provide the necessary documentation and information in accordance with the laws that protect personal data. Transaction information pertaining to customers will only be shared with the appropriate legal or regulatory authorities. Aside from that, each and every detail is kept completely confidential at all times.
In comparison to the previous years, the market for cryptocurrencies has witnessed a large drop in the number of exchange incursions and hacks owing to the proliferation of businesses that have adopted security protocols that are analogous to those used by PrimeXBT. On the other hand, only recently, a notable breach on the cryptocurrency platform of a rival resulted in a significant amount of user assets being stolen.
The attack raises concerns about what went wrong and how the hackers were able to circumvent protection and access monies that were supposed to be protected. PrimeXBT uses a variety of security measures to ensure that the funds of its users are kept safe at all times.
Exchanges and trading platforms for cryptocurrencies often rely on one of two primary types of cryptocurrency wallets: cold wallets or hot wallets. A technique for keeping crypto assets that isn't linked to the internet is known as a "cold storage wallet." [Cryptocurrency] As a result, there is no way to get access to the money that is being stored there. On the other hand, hot wallets are always connected to the internet and the server of the exchange in which they are stored. When a customer makes a request to withdraw funds from a hot wallet, this indicates that the client has made a request to an automated system that signs the transaction and puts it in a queue to be processed. Any system of this kind, however, is vulnerable to assault by any hacker who is dedicated enough to their work or skillful enough. Hacks have been commonplace in the bitcoin business for some time now since so many exchanges retain private keys connected to a server in this manner. As a result, platforms that deploy such methods are particularly susceptible to attack because of this.
At PrimeXBT, all customer assets are kept in a cold storage wallet until they are withdrawn. Once a day, between 12:00 and 14:00 UTC, PrimeXBT will handle any and all withdrawal requests that are still outstanding. If you request a withdrawal before 12:00 UTC, it will be handled on the same day you make the request. In the event that a withdrawal is requested after 12:00 UTC, the transaction won't be executed until the next business day. After the team has checked each transaction for risk scoring, money laundering, unusual trading activity, and other trends, all transfers are carried out manually.
PrimeXBT provides the greatest possible degree of asset protection by employing specialists in financial security and adhering to stringent manual procedures rather than relying on automated queues and systems that have vulnerabilities that can be exploited. This security measure has one and only one downside, and that is the fact that withdrawals may only be made once per 24 hours. However, abandoning security or safety in exchange for speed or simplicity is never acceptable, and this is especially true when it comes to consumers' financial information.
A trader has access to a potent instrument in the form of leverage, which is an essential component of the PrimeXBT trading platform. You may "tune" your portfolio towards bigger position size and make your money grow at a quicker rate if you utilize it to take advantage of relatively tiny price swings.
In order to give you with additional exposure, leverage works by having you make a deposit, which is referred to as margin. You are, in effect, just contributing a small percentage of the total value of the deal, and PrimeXBT is responsible for covering the remaining balance. Traders who use PrimeXBT products are able to obtain exposure to major cryptocurrencies without having to commit a large amount of cash. Examples of these cryptocurrencies include Bitcoin and Ethereum.
Over fifty different assets are available for trading on PrimeXBT, each with a variable leverage level of up to one thousand times and a leverage ratio of up to one thousand to one.
Bitcoin, Ethereum, EOS, Ripple, and Litecoin are some of the cryptocurrencies that may be traded against USD and Bitcoin at a one-to-one ratio. One hundred to one leverage is provided for each of these different trading products.
There are more than 25 of the most important currency trading pairings covered. These foreign exchange pairs include the AUD, CAD, CHF, JPY, NZD, USD, EUR, SGD, RUB, and TRY currencies. One thousand to one leverage is offered on each of these different trading products.
For example, DOWJ, EUR50, FRANCE, GER30, SP500, SPAIN, NASDAQ, HK-HSI, AUS200, JAPAN, and UK100 are all stock indexes that may be traded using CFDs. One hundred to one leverage is provided for each of these different trading products.
The following commodities are available for purchase: BRENT, CRUDE, and NAT.GAS. One hundred to one leverage is provided for each of these different trading products.
Up to a leverage of 1:1000 is allowed for trading in precious metals denoted by the symbols XAG/USD and XAU/USD.
Long and short sections combined with leverage allow traders to make a profit regardless of which direction the market moves in, ensuring that no chances are missed. The use of stop loss and take profit orders can be beneficial in lowering risk and increasing return on investment. When placing positions in accordance with a predetermined trading strategy, the built-in charting tools give an extraordinary level of precision and speed.
Traders who are new to leverage as well as those who have been using leverage to fuel the growth of their money for decades will find the user-friendly platform to be quite beneficial. Traders with more experience will like the convenience of having access to a varied portfolio as well as sophisticated tools inside the same trading platform.
Because of this, it is important to double verify the most recent charge schedule and trading conditions before engaging in any kind of financial transaction.
There are two different fees that are required to be paid while using the margin trading platform PrimeXBT or any other platform that offers leverage. The first is a commission that is charged on each transaction that is executed at the moment a position is started, and the second is a financing fee that is charged on an overnight basis for the collateral that is being applied to the leveraged trading position.
The overnight financing fees for long positions vary from 0.04166 percent Daily Funding Rate to 0.0555 percent Daily Funding Rate, although the trading expenses for cryptocurrencies are only 0.05 percent.
Regardless of whether a long or short position is taken, the trading commission charge for CFDs on stock indices and commodities is just 0.01 percent, and the daily funding rate is 0.02778 percent. This is true whether a long or short position is taken.
The vast majority of foreign exchange currencies, gold, and silver may be traded on PrimeXBT with a trading cost of only 0.001 percent and a daily funding rate of 0.00411 percent. Nevertheless, there are some small shifts to be seen in some combinations.
PrimeXBT's progressive fee reduction mechanism, which offers up to a fifty percent discount on all trading costs across the board for all trading instruments, is one more way in which trading expenses may be cut further on the platform.
The most active traders who have the highest amount of trading turnover will receive the most benefits from this method. Within their PrimeXBT accounts, traders are able to see how far along they are in the process of achieving each level of the discount.
The customer service desk of PrimeXBT is open around the clock. The customer service staff is really knowledgable, kind, and helpful.
You may get in touch with the team by email at the following addresses: email@example.com and firstname.lastname@example.org.
The website as well as the trading platform both provide Instant Web Chat as a communication option. The chat helpers answer quite quickly to questions.
In addition, you may reach help through the platforms of Twitter, Reddit, and Telegram.
Regulated brokerage firm
Low commissions on trades
Very secure, round-the-clock assistance
High degree of leverage
Does not function in the United States of America, Canada, or other countries.
PrimeXBT Review: Verdict
If you are interested in engaging in leveraged trading, PrimeXBT is an excellent choice for you to consider.
PrimeXBT has implemented a very robust set of safety precautions, the platform's costs are among the most reasonable in the industry, and the interface is highly appealing.
Taking into account how PrimeXBT has developed since it was first introduced, it is reasonable to anticipate that their services will continue to evolve and become more advanced over time.
There is no need to provide any personal information or go through a KYC check because the registration procedure just takes a few seconds.
We can only hope that PrimeXBT will also be able to provide its services in other nations, such as the United States and Canada.
PrimeXBT is a Bitcoin trading platform that is still relatively young but is
expanding quickly. The platform gives its customers access to a wide variety of
investment opportunities and asset types from which to select. In this review of
PrimeXBT, we will talk about whether or not this is a decent trading platform,
as well as what features set them apart from the competition when it comes to
PrimeXBT was established in 2018, and in the very short time since then, the company has seen explosive development. The cryptocurrency exchange has expanded to the point that it is now considered to be one of the key brokers actively participating in the margin trading market. Furthermore, the exchange now has customers from over 150 different countries.
The business strategy that the corporation identifies as being "customer-centric" is being credited for the company's impressive record of profitability. This is made possible by the company's capacity to develop and advance by utilizing cutting-edge blockchain technology to give consumers with everything they want for their trading operations while maintaining extremely competitively low fees in comparison to other cryptocurrency brokers.
In addition, PrimeXBT provides a website that is simple to navigate and a trading platform that is exceptionally robust. The website is brimming with the most recent analysis, tips, and essential trading tools available today. Because of this, both novice traders and those with years of experience will have an easier time accomplishing their trading objectives.
Additionally, PrimeXBT has a very large trading volume and a very high level of liquidity for all of the cryptocurrency pairings that it supports. This, in addition to a customer service center that is open around the clock, is there to help and assist people at any given moment in time. These are the distinguishing characteristics that set the firm apart from its competitors.
PrimeXBT places a high priority on the safety and privacy of its customers. The corporation brags that it has state-of-the-art blockchain technology, which guarantees that investors' funds will continue to be safeguarded at all times. The PrimeXBT includes the following security measures as part of its design:
PrimeXBT stores a bigger amount of its clients' Bitcoin in offline storage systems, which are also known as cold storage. This is done so that the company can secure its customers' assets from being hacked or stolen. Only a very small fraction of the bitcoins owned by consumers may be accessed online at any given time.
A Web Server That Is Dedicated and Protected That Runs on Platform:
The PrimeXBT trading platform is protected from all types of internet assaults, including distributed denial-of-service attacks (DDOS), thanks to the installation of some of the most cutting-edge blockchain technologies currently available. Customers will have peace of mind knowing that the online platform will continue to be available at all times and will be simple to reach whenever it is required. The utilization of cutting-edge technology guarantees that there will be no lag in the run time, error in order execution, or fluctuation in asset price when a trader attempts to enter, alter, or leave an open transaction.
The PrimeXBT trading platform also has an additional safety measure in the form of a two-factor authentication technique, which provides another layer of protection. Because of this, there is no chance that a hacker will get into their accounts. The authentication mechanism, in conjunction with the exclusive use of the Secure Socket Layer (SSL) protocol for all internet-based communication, helps to ensure that the exchange communication network will not be vulnerable to hacking attempts.
When it comes to transaction costs, the cryptocurrency exchange known as PrimeXBT provides its customers with one of the most affordable options available within the market. For a predetermined, flat commission per trade, the broker makes it possible for you to buy, sell, and hedge foreign currency pairings, indexes, commodities, and cryptocurrencies.
When it comes to trading, fees may rapidly add up to a significant sum, making them a crucial consideration. Therefore, selecting the appropriate exchange that has a favorable cost structure will go a long way toward facilitating your development as a trader. Check out our list of the most popular Bitcoin trading exchanges if you want to compare the fees charged by different exchanges to one another.
The PrimeXBT exchange has maintained a highly competitive price structure, which enables it to provide its customers some of the most affordable costs available in the Bitcoin trading market. In its current iteration, PrimeXBT levies a very modest flat fee of around 0.05 percent each trade. This is rather low, particularly when weighed against the value of other exchangers. The vast majority of alternative cryptocurrency exchanges impose transaction fees of up to 0.075 percent.
Bybit, which is widely considered to be the most popular Bitcoin trading exchange, has a taker fee of 0.075 percent. On the other hand, the manufacturer fee for Bybit is actually negative and stands at -0.025 percent. This indicates that if you use limit orders as a market maker on Bybit, you will in fact receive compensation for doing so. PrimeXBT is for you if you utilize the market order rather frequently when entering trades on the cryptocurrency pairings that you want to trade. Check out our evaluation of Bybit if you frequently utilize limit orders, though, as this may be of interest to you.
Additionally, overnight financing costs are charged by PrimeXBT for keeping a trade open throughout the overnight hours; however, the amount of these fees vary depending on the trading pair.
When deciding which trading platform to use, the withdrawal charge is the next fee that should go into your decision-making process. This is often a one-time charge, but the amount varies greatly from one transaction to the next. When you withdraw Bitcoin, the industry standard withdrawal fee amounts to 0.000812 BTC. This is the cost charged by Bitcoin trading exchanges. However, PrimeXBT has gone one step further by reducing this charge for its customers by roughly forty percent. When consumers withdraw their Bitcoin cryptocurrency, they will only be required to pay 0.0005 BTC using this method.
PrimeXBT provides the most generous deposit bonus in the business, granting new users a bonus of 25 percent on their first deposit that can be spent on the trading platform. This is the most generous deposit bonus offered by any company in the industry. Nevertheless, in order to be eligible for this incentive, you will need to make a first deposit of at least 0.01 Bitcoin.
To activate your 25 percent deposit incentive. Follow this link to sign up for the service, and when prompted for a promotion code, type "bitcoinsusus50" in the area provided.
Under the heading "Reward," this bonus will be deposited into your trading account as additional equity. On the PrimeXBT platform, the bonus may only be used as additional collateral for margin trading; it cannot be withdrawn, exchanged, or used to cover costs. You can only use it to trade on leverage.
The procedure to sign up for a trading account with PrimeXBT is really uncomplicated and uncomplicated to understand. You may rapidly create your own account by following the thorough procedures that are provided below.
Follow these steps to get your PrimeXBT account up and running:
Go to Primexbt.com
Simply hit the "Register" button to get started.
Enter your email address, together with a secure password that you will be able to recall, and your cell phone number for verification.
Depending on the mode of registration that you choose, after the process is finished, you will either receive an email with a verification link or code, or a verification code will be texted to the phone number that you provided.
It is imperative that you keep in mind that all PrimeXBT client accounts are denominated in Bitcoin whenever you are attempting to fund your PrimeXBT account. As a consequence of this, the bitcoin cryptocurrency will be used for all of your transactions on the exchange platform, including deposits, account balances, and withdrawals. PrimeXBT gives its registered customers free access to its own own bitcoin wallet, which can be used for direct deposits.
You may also make deposits using several cryptocurrencies, as well as your credit card. If you deposited funds using a credit card or another cryptocurrency, such as altcoin, you would be required to convert those funds into Bitcoin on the platform. This can be done by making use of a straightforward application programming interface (API) that has been linked to Changelly. This API makes it simple for users to buy bitcoin or exchange other cryptocurrencies for bitcoin.
It is essential to keep in mind that although PrimeXBT allows traders to trade in a diverse range of asset classes and cryptocurrency pairs, including Litecoin, Ethereum, Bitcoin, XRP, Forex trading pairs, Indices, and Commodities, and so on, the platform does not permit withdrawals in any FIAT currencies or other cryptocurrencies besides Bitcoin. This is one of the reasons why PrimeXBT is so popular.
Because of this, the PrimeXBT exchange is now essentially a platform for trading cryptocurrencies with other cryptocurrencies; hence, in order for traders to withdraw their winnings, they need to have a safe bitcoin wallet. To withdraw your funds in Bitcoin and subsequently convert them to any currency of your choosing, you may also make advantage of the API that connects the PrimeXBT platform to the Changelly website. This API allows you to do both of these things simultaneously.
On its platform, PrimeXBT enables traders to trade big as well as small currency pairings in the foreign exchange market. Additionally, it applies a commission fee to each trade. The current rates for these charges, which are also known as trading fees, are 0.01 percent for forex pairs and 0.05 percent for cryptocurrencies.
PrimeXBT's support for the following forex currencies:
Dollars United States Dollars Australian Dollars
The Euro and the Swiss Franc
Yen equivalent to one pound of sterling
It is common knowledge that PrimeXBT provides its customers with an exceptionally high leverage.
PrimeXBT gives its customers the opportunity to trade indices and commodities with a leverage of up to 1:1000, depending on the size of the position that is established.
PrimeXTB provides a 1:100 exchange rate for Bitcoin and all other cryptocurrencies. As a result, PrimeXBT is now included in the group of Bitcoin trading platforms that provide the largest leverage.
What Exactly Does It Mean to Have a 100x Leverage? When you trade on margin, it implies that you may expand your exposure to the market as well as your purchasing power even if you just have a small amount of capital. The increased funds at your disposal, also known as leverage, allow you to place larger wagers because they are provided by the exchange.
Therefore, if you use a leverage ratio of 1:100, every one bitcoin that you own will be turned into one hundred bitcoin, which will increase your ability to make purchases. In other words, you will be able to initiate positions with a value that is far more than the money that are now held in your PrimeXBT account.
A evaluation of PrimeXBT's leverage trading services: However, while trading with a large leverage might possibly help you make more money, it also has the potential to raise the amount of money you lose. As a result, it is essential for you to dedicate the necessary amount of time to learning how the concept of leverage operates. Be sure to educate yourself on the ins and outs of Bitcoin trading before becoming involved with leverage trading.
PrimeXTB is reported to be one of the top 40 largest brokers and exchanges in the globe due to the fact that its customers come from over 150 different nations. Due to their magnitude, there are no concerns regarding their liquidity. Not only that, but it is genuinely a worldwide exchange because it only uses accounts denominated in Bitcoin. This eliminates any and all barriers between nations as well as limits imposed by local banks.
Is PrimeXBT Currently Being Offered In The United States? US traders are unable to use PrimeXBT because the firm continues to avoid complying with laws imposed by the United States government that might restrict or control the manner in which it conducts its business.
Having stated that, despite this fact, US traders continue to use the exchange platform. Especially considering that the corporation requests very little to almost none of its consumers' personal information and data. Because of this, users are able to conduct business with the exchange while maintaining their anonymity, and the organization is prevented from developing a comprehensive verification procedure that may be used to identify customers. Check out this list of cryptocurrency exchanges in the United States.
PrimeXBT provides a web-based trading platform that is straightforward and user-friendly, and it is packed with all of the features and tools that a trader could possibly want in order to do his research and place his trades. Because it is web-based, you will not need to download anything or perform any kind of installation on your personal computer in order to use it. The trading platform also has a "help and instructional part" that is built in. This section includes videos and articles that are highly helpful for beginning traders as well as intermediate traders who are trying to hone their trading abilities. The following are some of the features offered by the trading platform:
The availability of a significant number of indicators to assist traders in doing technical analysis is one of the many elements that are included in the PrimeXBT trading platform. The platform includes well over 90 distinct sorts of indications, each of which is easily available to anyone who have registered with the platform and can use it.
The PrimeXBT trading platform has been a customer favorite due to the user-friendly design that was introduced with its straightforward and uncomplicated aesthetic. However, this is not the end of the story; the firm has gone one step further by enabling the user to totally personalize the workspace provided by the platform. Traders will like the fact that they are able to completely reorganize, position, and add new widgets to the workspace in order to make it more fit to their particular trading style.
Many different types of orders are available on the trading platform of the PrimeXBT exchange, which traders may use to better position themselves in the market. These order types include: market order, limit order and stop order. In addition, OCO orders may be placed through third-party solutions with the use of PrimeXBT's API bridge. Traders are also provided with the option to include a "take profit" and "stop-loss" order in their transaction via the site. This will assist them in more effectively managing their position and reducing the amount of risk exposure they have in the market.
"Covesting" is the name of an incredible new product that was recently made available on the PrimeXbt platform. Users of the site are given the chance to browse through hundreds of trading methods that have been offered by other traders and graded by PrimeXBT based on how profitable they are.
Once you locate effective trading techniques that meet your requirements and are comfortable with the level of risk you are willing to take, you can use Covesting to automatically duplicate their trading activity onto your own account. You will be able to increase your profits and reach the same levels of success as the best traders on the site if you use this strategy.
During this section of the PrimeXBT review, I will be providing an in-depth analysis of the PrimeXBT cryptocurrency trading platform. My attention will be focused on the user interface of the platform, as well as its technology, security, and stability. In addition, I will discuss the challenges I encountered while utilizing the platform, as well as the different areas in which I feel PrimeXBT might improve.
You may trade whenever and wherever you choose with Prime XTB by downloading the PrimeXBT mobile app, which can be done for free right now from the Google Play store. Users are able to engage in a broad variety of activities thanks to this software, including the following:
Establishing a brand-new account:
Trading more than 50 products across all asset classes, including cryptocurrencies, indices, commodities, stocks, and currency, among other financial instruments.
Conduct technical investigation with the use of the many different built-in talking tools.
Trading on a total of six distinct periods and making use of three distinct chart styles.
The software makes trading while you're on the road quite simple, particularly thanks to its straightforward user interface.
The default trading chart for PrimeXBT is formatted in the same way as any other chart you could see on an exchange trading platform. It is sleek, simple to browse, and user-friendly all at the same time. The user also has access to a large number of customization and personalization tools that may be used to alter the appearance and behavior of the chart.
Users also have access to a variety of chart styles, indicators, and time periods to select from while carrying out their technical analysis and tracking the price of an asset. In addition to this, the chart also provides access to a "studies section" for your convenience. Users may access several dozen available studies on a variety of pair combinations and asset classes through this area.
Each and every instrument that may be traded on PrimeXBT's platform is subject to both technical and fundamental analysis, both of which are supported by the exchange. A trading advantage in the cryptocurrency markets may be created with the aid of PrimeXBT's built-in capabilities, which are described in more detail below.
Before taking a position, users may do an in-depth technical analysis using the platform's multiple built-in indicators and charting analysis tools. These are included as part of the platform's standard features.
On the platform, it is simple for you to develop and import your own own individualized tools, indicators, and EA.
You will easily be able to export and evaluate your trade history.
PrimeXBT provides its customers with one of the most sophisticated cryptocurrency trading platforms available inside the market. This platform is available for Market Orders.
The fact that the trading engine of the platform can handle more than 100,000 high-speed transactions per second (TPS) guarantees that the PrimeXBT trading platform will not lag and that all orders will be carried out in a very timely manner.
In the case of limit orders, PrimeXBT gives its users the option to make use of pending orders, which allow them to predetermine their entry price and exit level in preparation for a significant shift in market conditions.
Regarding Conditional Orders, PrimeXBT gives its users the opportunity to take advantage of a wide variety of different forms of advanced conditional orders on its trading platform. entering and leaving the market at predetermined points if certain requirements have been satisfied.
The PrimeXBT customer support center is available around the clock, seven days a week, to offer aid and assistance to everyone. The support crew is quite informed about the many aspects of the platform as well as any potential problems that may develop as a result of utilizing it, however they only speak English and Russian. There are several alternative avenues of contact that may be utilized in the event that you do not receive a response to an email for a period of time that ranges from a few hours to a full day. You might want to give the instant web chat a shot because it has a very fast response time for questions and answers.
PrimeXBT has quickly become a market leader despite the fact that the firm has only been active in the trading sector for a very short period of time. PrimeXBT has established itself as a leader in the industry by only concentrating on enhancing and inventing the services it offers in order to increase customer happiness.
Bybit, Phemex, and Deribit are PrimeXBT's most formidable adversaries at the moment. Both Bybit and PrimeXBT provide excellent customer care and offer a user-friendly UI. If you are interested in learning more about how to use that exchange, be sure to check out our guide on Bybit.
PrimeXBT combines cutting-edge technology with an incredible web-based trading platform, a reasonable and transparent cost structure, huge leverage, and more. Because of this, PrimeXBT is recognized as being among the most reputable Bitcoin-based exchanges in the industry. PrimeXBT is the exchange that you should use if you want to do transactions in an environment that is both secure and straightforward.
Is Prime XBT legit? PrimeXBT is one of the best trading platforms available, and it is an excellent choice for crypto traders just starting out. It is secure, quick, and dependable, and it offers sophisticated tools that are sought after by expert traders.
Is Prime XBT subject to any regulations? The regulation of Prime XBT has not yet taken place. On the other hand, many people believe that this won't be the case for very much longer considering how popular it is.
Is there no cost for Prime XBT? PrimeXBT is a cryptocurrency exchange that is completely free to use, and interested parties can create an account without paying any fees. Users may also trade on the move using the free mobile trading app that can be downloaded to their devices.
Finding the right cryptocurrency trading platform for using leverage might be
a difficult undertaking. There are several aspects to take into account,
including the features of the platform, its assets, the amount of leverage
available, trading costs, security, and customer support. In this article, we
evaluate PrimeXBT, a prominent Bitcoin-based platform that allows traders to
trade foreign exchange (FX), cryptocurrencies, commodities, and indices using
Bitcoin as collateral. PrimeXBT also enables trading in indices.
Prime XBT is a platform that allows users to speculate on the price movement of more than 30 traditional financial markets as well as cryptocurrencies by using Bitcoin as collateral. The platform is built on derivatives. It combines the speed and trading experience of a cryptocurrency exchange with the extensive choice of markets that is generally given by traditional brokers such as Plus500, CMC, Pepperstone, eToro, and IG Markets. Specifically, it offers trading in bitcoin, ethereum, and litecoin.
Traders on the site are able to trade more than 30 different assets from a single wallet by using a single asset, such as Bitcoin. There is no need to be concerned about deposits in fiat currency or banks because utilizing solely bitcoin makes things more quicker and cheaper.
Since its inception in 2018, Prime XBT has had meteoric expansion, and it now provides its services to customers in more than 150 countries, processing an average of 375,000,000 dollars in daily volume. In addition to providing access to top-tier liquidity and a broad variety of trading instruments, the exchange also maintains a high level of security and deep liquidity, which enables a trading environment that is both secure and effective for everyone.
Prime XBT is a cryptocurrency trading platform that caters to expert traders that have previous experience with crypto-to-cryptocurrency trading. Both the PC version and the mobile app version of the trading platform and charting have a sophisticated, up-to-date, and user-friendly design. The disadvantages of utilizing Prime XBT include a dearth of features geared toward newcomers as well as expensive conversion costs when purchasing cryptocurrency with traditional currency.
Professional and intermediate traders may take use of the cutting-edge trading tools and services that Prime XBT provides. The purpose of the platform is to facilitate the buying, trading, and selling of traditional assets as well as cryptocurrencies while utilizing Bitcoin as collateral. Additional noteworthy features of PrimeXBT include the following:
A platform that has won several awards and allows for margin trading of up to 1000x.
Trading platform that is user-friendly, aesthetically pleasing, and expertly designed
Technical analysis made easier with cutting-edge software and specialized indicators
A tappable charting layout and setting that may be personalized
Automated trading to forecast short-term fluctuations in pricing
Trades can be managed using a variety of order types.
Charting and market data in real time to facilitate trading of prominent altcoin pairs
Practice buying and selling cryptocurrency using fictitious funds on a synthetic market.
The PrimeXBT app allows users to manage their portfolios and open trades from any location.
Covesting is a copy-trade tool that allows users to monitor and replicate the activities of successful traders.
A safe wallet that keeps the bulk of its holdings in separate offline wallets known as "cold wallets."
A referral and affiliate program that offers referral bonuses of up to fifty percent of the total purchase price to users who bring in new customers.
According to our study, PrimeXBT seems to be a secure cryptocurrency platform that allows users to trade the markets with leverage. We were unable to locate any instances of security breaches, theft, or hacking on this site. Cold storage wallets, whitelisting, and two-factor authentication are among of the security features, protocols, and processes that the exchange employs to safeguard the safety of its users' assets.
Is PrimeXBT Legit? It would appear that PrimeXBT is a real business, as the firm is registered in the Seychelles as Prime Technology Ltd, with the Seychelles company registration number 217308. The cryptocurrency trading exchange was established in 2018, but its popularity has skyrocketed in a short amount of time, and it already has thousands of active users located in more than 150 countries across the world.
Prime XBT is a cryptocurrency trading exchange that is accessible worldwide in all nations, including the United Kingdom, Canada, Australia, and New Zealand. The United States of America, Burma, Cuba, the Democratic Republic of the Congo, Hong Kong, Ivory Coast, Liberia, North Korea, Sudan, Syria, and Zimbabwe are among the nations that are not permitted to utilize PrimeXBT for trade.
The procedure to sign up for Prime XBT is quite short and easy to complete. There is no requirement to register for KYC, which would appeal to a good number of investors. The only thing you'll need is a working email address to get started with Bitcoin trading; after that, all you'll need is to make a deposit.
Follow these steps to set up an account on Prime XBT:
Go to the Prime XBT website and then select the "Register" tab.
Please provide your email address and choose a password.
It will be necessary for you to validate the e-mail address. Enter the code after checking the email address that was used to register. After completing this step, the registration procedure will be finished, and you will now be able to log in to Prime XBT. When you initially log in to Prime XBT, we strongly advise that you use Two-Factor Authentication so that your funds can be protected from unauthorized access.
When it is your first time logging onto the exchange, you will be prompted to make a deposit of money. Since you have already activated 2FA, you may skip this step and proceed directly to the 'Account Summary' page, where you will see a button labeled 'Deposit To Wallet' that, when clicked, will bring up your personal Bitcoin deposit address for Prime XBT.
There are two alternatives available for depositing bitcoins into Prime XBT:
You can withdraw Bitcoin to your BTC wallet address by using the program that came with your hardware wallet or any other online exchange. The bare minimum required for a deposit is 0.001 Bitcoin. You will now be able to trade with up to 0.1 bitcoin's worth of assets thanks to this.
A credit card may be used to make an instant purchase of Bitcoin, and the instant cryptocurrency service Changelly, which has been incorporated into the exchange, can be used to make an instant exchange of any other cryptocurrency.
Traders also have the option of purchasing Bitcoin with fiat currency through a fiat-to-cryptocurrency exchange like as Coinbase, which allows for bank transfer purchases and has reduced trading costs. After that, the money may be moved into a PrimeXBT wallet, where it can be used to begin trading with leverage.
Users have the ability to trade across a diverse range of marketplaces using Bitcoin as collateral, including foreign exchange (FX), cryptocurrencies, commodities, and indexes. Therefore, if there are no possibilities to trade on the cryptocurrency exchanges, you do not have to limit yourself to trading on such markets alone. Users also have access to the option of trading on traditional financial marketplaces. Trading is available on dozens of different cryptocurrencies, indices (including the NASDAQ), commodities (including Oil and Gold), foreign exchange (including the EUR/USD), and many other financial instruments. Prime XBT.
There are now nine other cryptocurrencies that may be traded against the US Dollar or Bitcoin using leverage. Traders who wish to stick to trading digital coins have this option. In the event that you choose to trade on traditional financial markets, there are lots of assets available on exchanges that will let you trade using Bitcoin (BTC) in the following markets:
Bitcoin, Ethereum, and Litecoin are examples of cryptocurrencies.
Indices: S&P 500, FTSE 100, Nikkei 225 etc.
Forex: USD, EUR, JPY etc.
Gold, silver, oil, and other such commodities.
When compared to a conventional cryptocurrency exchange, PrimeXBT's large range of trading marketplaces offers a significant competitive edge. This advantage is comparable to those offered by platforms such as Bitpanda.
PrimeXBT provides a leverage of 1:100 on all cryptocurrencies, commodities, and indices that may be traded on the platform, while providing a leverage of 1:1000 on the major forex pairs. Each user receives an amount of purchasing (or selling) power that is immediately equivalent to 100 times the value of their initial investment.
A trader's use of leverage can provide them with a potent new instrument. You may make use of it to increase the rate at which your balance grows by taking advantage of very minor price swings. The way it works is that you put up a small percentage of the total value of your transaction, and the exchange supplies the remaining portion of the deposit. This allows you to take a much greater position size without having to commit all of your available funds. It's also possible for it to have the reverse effect, which is to make your losses even bigger. An illustration of how leverage operates on Prime XBT is provided in the following scenario.
When it comes to choosing a cryptocurrency exchange, the charting interface is one of the most significant factors to take into account for traders of any kind. Particularly for market participants that rely on technical analysis to get a competitive advantage in the market. When choosing a cryptocurrency exchange, you need to choose one with a trading interface that you are comfortable with. Because the majority of your time will be spent there, it is imperative that it be comfortable.
As soon as you log in to Prime XBT for the first time, the trading dashboard will immediately stand out to you as being very well organized, fluid, and user-friendly. There are no confusing menus or other distractions; only a straightforward interface for trading is provided. You may flip between the various asset classes by using the left side of the screen, which is where the trading pairs are shown.
There is one aspect of this exchange that stands out as particularly impressive to professional traders. That is, Prime XBT allows for the display of several price charts on screens all the way up to four. There are certain cryptocurrency exchanges that do not have the capability to offer this feature. Traders have the ability to customize the charting interface to reflect their preferred trading methodology. For instance, if you want to observe numerous time frames at once, you may utilize the quad chart display.
If you wish to chart Bitcoin, for instance, you may use this chart mode to examine the current BTC price on a 15-minute, 1-hour, 4-hour, and daily time frame all inside the same trading interface. This mode also allows you to track other cryptocurrencies. Users are provided with a visual picture of the overall market attitude by means of this straightforward feature, which eliminates the need to flip between several time periods on a single price chart.
Alternately, customers have the option of utilizing the multiple chart display in order to monitor the live price of a number of various asset classes simultaneously. Some examples of these asset classes are Bitcoin, the Australian Dollar, Gold, and the NASDAQ. One of the obvious benefits of the platform is that it has a responsive display of many charts, which also has no latency.
PrimeXBT charts include all of the advanced crypto trading tools that you would typically expect for a modern cryptocurrency trading platform. These tools include the ability to draw lines, rectangles, horizontal, Fibonacci retracement, arrows, text, and so on. PrimeXBT charts are available in both desktop and mobile versions. In addition, PrimeXBT comes with a comprehensive set of chart indicators that can be added to any chart. Some of these chart indicators are as follows:
Moving averages with a simple formula
The Relative Strength Index (RSI)
Ichimoku Bollinger Bands Average True Range
The charting interface and tools that are provided by Prime XBT are, all things considered, remarkable and cannot be found on any other exchange. If you trade using technical analysis, you will find the charting experience on Prime XBT to be satisfying due to its low latency and smooth operation. PrimeXBT's in-house charting engine performs exceptionally well when measured against those of other cryptocurrency exchanges that rely on an interface provided by TradingView.
When utilizing Prime XBT, there are primarily two different ways to start a transaction. The first thing you need to do is head to the top left corner of the trading window and click the "Buy" and "Sell" buttons. This will bring up a box labeled "New Order," as illustrated in the following image. Right-clicking on the area of the screen where you wish to establish a limit order is the alternative method, which is the one that we recommend. The pricing level will be pre-populated, removing the need for you to fill it in manually.
The order window has a modern appearance and is easy to navigate. Prime XBT provides a variety of order kinds, which may be selected from a drop-down menu. These order types are as follows:
Market Limit: Start With One, Stop With the Other (OCO)
Users are given the chance to pre-define their degrees of risk as well as their desired take profit. The stop loss and take profit window will do a calculation to determine the predicted profit or loss of the transaction based on the amounts entered for the stop loss and the take profit. Traders are able to rapidly assess the percent risk of a trade before opening a position in order to confirm that the deal complies with the user's risk management criteria.
The asset, position size, entry price, margin, and unrealized profit and loss are all displayed at the bottom of the screen once a position has been triggered. These values are updated in real time. If you want to make changes to a live trade, you may do so by clicking the order on the chart. This will open a box in which you can edit the 'Entry Price,' 'Take Profit,' and 'Stop loss' values.
Covesting is a copy-trade program that is exclusive to PrimeXBT. This software gives traders on the platform the ability to look for and follow the trades of investors who have been the most successful and lucrative. It is an excellent way for new traders and novices to connect with experienced traders and tactics that are used in the worldwide trading community.
Profitable traders, just like users of social trading platforms like eToro, have the opportunity to reap the benefits of the social trading module by generating a passive income from the trading fees paid by their followers.
Covesting makes it possible for traders with similar interests to connect with one another in a social setting and talk about their trading techniques. It is the ideal setting for novice traders to learn a trading method that is implemented by experienced market participants and is available here. The success of the trader as a whole may be seen through the use of an equity graph that displays the outcomes of each portfolio. The number of days that the traders have been active, the follower's equity that is behind the trader, and the overall P&L results are all displayed for the user to sort through.
PrimeXBT enables experienced traders who have a comprehensive grasp of both traditional markets and cryptocurrency markets to trade their own portfolios and generate a second passive income via the usage of the Covesting module. Traders may design new tactics on the social network and then share them with other users of the platform.
As was just said, the user's transaction history is made public and shared with other traders on the Covesting platform. Because of this, there is an atmosphere of competition among professional merchants. Traders that are willing to offer their trading strategies have the potential to create passive revenue from users who follow their strategies. The trader receives a cut of the commissions that are generated from their transactions. The ability to earn money from a trading method that is both successful and consistent increases in proportion to the number of followers that are attracted.
When choosing a cryptocurrency exchange or a platform for day trading, it is vital to take into account the costs associated with the exchange. When trading greater position sizes and doing so on a leveraged exchange, where you are paying fees on positions that are much larger than your margin, this becomes an even more important consideration. The prices associated with using PrimeXBT are presented in a straightforward and open manner on their website.
PrimeXBT does not impose a deposit fee. When you withdraw Bitcoin from an exchange, you will be subject to a minimum Bitcoin network fee, the amount of which is dependent upon the current load on the blockchain. This charge has been limited by Prime XBT at 0.00005 BTC, which is the industry norm.
Trade fees and overnight financing are both fees that are charged by PrimeXBT. When buying or selling on the market, the transaction fee for cryptocurrency assets is equal to 0.5 percent of the amount traded. The overnight financing cost might be different for each cryptocurrency because it is determined by the liquidity of the market. It is, in essence, the cost of borrowing money to finance an overnight position that involves leverage. You will not have to pay for overnight financing if you initiate and finish a leveraged position on the same trading day.
The Prime XBT platform has a number of different security mechanisms, which together offer the greatest possible degree of safety for its users' cash and prevent those monies from being stolen. You may see a comprehensive list of the procedures and measures that have been implemented for cyber security by visiting the website.
Dual factor authentication, sometimes referred to as 2FA or two-step verification, is a feature that may be used to provide an extra layer of protection to both the process of accessing an account (logging in) and making withdrawals from that account.
Because of this high level of security, it is extremely difficult for cybercriminals to penetrate the exchange and steal customers' money. They would need to be in possession of your mobile phone and know your login details to access the account (and be able to unlock it).
To activate Two-Factor Authentication on your trading account, the following steps must be taken:
Get the Google Authenticator app for your mobile device, whether it's iOS or Android.
Navigate to the option labeled "System Preferences."
In the Google Authenticator section, choose the checkbox labeled "Enable GA."
You should make a backup of your private key, and then verify it by checking the box that says "I backed up a 16-digit code."
Verify the configuration by entering the PIN code that was generated by 2FA.
If you want to access your account or withdraw money from it in the future, you will be required to submit a code generated by Google Authenticator.
On PrimeXBT, the vast majority of the digital assets (Bitcoin) owned by customers are held in cold storage wallets, which are maintained offline. This indicates that even if the system is compromised, an attacker will not have complete access to all of the necessary keys to steal cash even if they have gained access to the system.
The private keys to cryptocurrency assets are never stored on cloud-based systems, which drastically minimizes the likelihood of cyberattacks from malicious actors like hackers. Only a tiny portion of the assets are stored in "hot wallets," which are known for their superior level of security. These monies in the hot wallet are used to execute withdrawals rapidly and are protected against loss in the event that the hot wallet is compromised.
Prime XBT eliminates the possibility of a single point of failure by utilizing a method known as multi-signature access, or "Multisig." This method offers protection against assaults as well as tolerance for the loss of access to a key or facility. Each and every transaction involving funds moving from Cold Storage to Hot Wallets is completed manually and requires the concerted efforts of a large number of PrimeXBT personnel.
"Withdrawal whitelisting" is an additional layer of protection that PrimeXBT gives its clients in order to protect their funds. Because of this, users now have the ability to whitelist particular Bitcoin addresses.
Only Bitcoin addresses that are on the whitelist can request a withdrawal from the account. This policy applies to any and all withdrawal requests. An unauthorized user WILL NOT be able to withdraw digital assets to a different location in the extremely improbable case that your PrimeXBT account is compromised.
In order to make whitelisting available on Prime XBT:
Proceed by going to the Account section and selecting the Withdraw menu.
Click the dropdown menu labeled "Destination address." Next, select "Add new address" from the menu.
Fill in the label and Bitcoin address that you want to use for withdrawals in the popup that pops up when you click the button. To proceed, click the "Add" button.
At this point, you need to go to the inbox of your email account. You will get a confirmation link in an email that we provide to you. Simply clicking on it will add the URL to your whitelist. Please take into consideration that the connection will only be operational for the next hour.
Your Bitcoin address, which you have validated, will be put to the Whitelist, which means that withdrawals of funds will only be available to that particular address.
Traders of all skill levels will find something to like in PrimeXBT's cutting-edge trading platform. They provide a completely configurable and sophisticated trading platform that allows our customers to trade more than 30 different assets with leverage. Invest in cryptocurrencies, Indices, FX, and commodities, benefit from market rallies and losses, or hedge current cryptocurrency holdings by accessing the global financial markets. For everyone, the organization delivers real-time market data and a wide selection of trading instruments as well as security and liquidity.
Leveraged trading is offered by PrimeXBT, a cryptocurrency and FX broker
based in London. This review focuses on PrimeXBT's trading platforms, crypto
forecasts, mobile app, and supported countries, as well as its mobile app.
Deposit and withdrawal choices, promotional incentives, fees, and KYC
verification methods will also be covered.
PrimeXBT Trading Services was established in 2018 in the Seychelles and has since evolved into a global brand with clients in over 150 countries. They built operations in St. Vincent and the Grenadines and relocated company headquarters to Switzerland in 2019.
The firm employs over 40 people, has three locations, and a daily trading volume of approximately $540 million. Regulators don't now recognize the broker's credentials.
It is not necessary to download or install anything in order to trade with PrimeXBT because of the company's unique, browser-based trading platform. Over 50 technical indicators and a wide range of charting and analysis tools are included in the platform.
Charts may be used to place trades and manage orders. In addition to a wide choice of visualisation tools, execution techniques and historical trade data, the workspace is completely customizable.
Traders can also establish stop losses and take gains on several order types at the same time.
A user-friendly, fast-trading platform has also been developed by PrimeXBT. In the Turbo platform, traders can take positions for 30 seconds, 1 minute, or 5 minutes at a time.
It is possible that the short time periods limit prospective earnings, but the maximum loss is limited to the amount placed, which reduces the risk.
The Turbo platform has a social trading part where you may compete against other investors. A chart's functionality is severely constrained due to the absence of any indications or analytical tools outside the chart type.
Furthermore, just six instruments are now available for trading, and despite the existence of a social trading leaderboard, no copy trading functionality has been implemented.
Notably, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) aren't supported by this broker.
Apart from cryptos, PrimeXBT's breadth of asset categories sets it apart from the competition in the cryptocurrency exchange sector. As a result of its competitors like BitMEX and CoinBase limiting their offerings to just cryptos, ByBit has a distinct advantage. Aside from FX and six main stock indices, PrimeXBT also deals in commodities such as crude oil and gold.
Futures, options, and spread betting are not offered by the broker.
PrimeXBT charges simply for each transaction and for keeping a position open overnight, with no hidden fees. Token commissions are 0.05 percent, currency commissions are 0.001 percent, and index and commodity commissions are 0.01 percent.
Known as swaps, overnight financing charges fluctuate with the broker on a daily basis. There is a complete breakdown of current financing rates on the website's fees page.
A wide range of crypto-to-crypto leverage options are available at PrimeXBT, including 1:1000. There is a variable amount of leverage that may be applied to a trade based on its size. As the amount of a deal rises, the maximum leverage decreases.
The amount of leverage that can be used depends on the type of asset being traded as well. In terms of margins, forex pairs can reach 1:1000, while precious metals can only reach 1:500 (0.5 percent margin) and cryptos, energies, and indices can only reach 1:100, giving a margin of 1% for these instruments.
Leverage rates on this platform are much greater than those on other cryptocurrency margin trading exchanges such as Kraken and Binance. No matter the amount of trades, covesting accounts have access to maximum leverage rates of 1:200 for all asset classes.
The broker's website has information about margin calls, including a margin call effect calculator.
For iOS and Android devices, PrimeXBT's unique platform is now accessible in a mobile edition. Almost all of the features of the desktop web-based platform are available on the mobile app, including several order choices and a wide range of customizing options. Mobile trading is an excellent alternative or addition to traditional desktop trading.
When it comes to transactions, PrimeXBT only accepts cryptos from other cryptos. It's possible to buy Bitcoin using a credit or debit card using a widget in their deposit area, although this adds a 10% fee. To make a deposit into your PrimeXBT account, simply have Bitcoin already in your possession.
In order to ensure your security, it may take up to six automatic confirmations before it appears in your account.
The process of withdrawing is simple, requiring simply the amount and the Bitcoin wallet address to be entered. Withdrawals can only be made to the addresses that have been whitelisted by PrimeXBT. There is a charge of 0.0005 BTC for withdrawing money from the platform.
The absence of a demo account is a noticeable departure from the regular services offered by crypto trading companies. In order to learn about trading platforms, indicators, and charting without taking any risks, PrimeXBT does not provide a virtual account.
At the time of this writing, PrimeXBT does not provide any sign-up or deposit bonuses or prizes. However, there may be other financial incentives for traders to sign up. Check the broker's website in 2022 to see if there are any special offers or prizes.
As of right now, the PrimeXBT exchange does not have a license to operate. Despite the fact that the broker is not regulated, client ratings are generally excellent and there are rarely complaints about the broker not paying out returns. Still, we're wary of recommending internet brokers that aren't subject to regulatory oversight because it's more difficult to verify if they're trustworthy.
Additional features are available at PrimeXBT outside the trading platform itself. Learning about markets, order types, and trading tactics may be found in an educational area. In addition, there are video lessons and visual tips, as well as a comprehensive FAQ area.
In addition to the PrimeXBT website, there is now a forex and cryptocurrency blog that provides more in-depth market recaps and assessments of complicated trading techniques. PrimeXBT also provides cryptocurrency price forecasts, including Bitcoin (BTX), Ripple (XRP)and EOS.
The beta version of PrimeXBT's trading platform's Covesting module is presently in development. To form an investing fund, you can use Covesting, which allows you to invest in other traders.
The module displays the best traders and their funds, as well as their track records and returns. A number of variables, including daily and all-time ROI and total capital, are used to rank each fund. Traders who have their own money will both get more money from investors and get a cut of the greater earnings.
With PrimeXBT, there are no account kinds to complicate matters. As a result, there is just one account that provides access to all of the broker's services, with no restrictions depending on deposit amount or trading volume. To get started, you'll need to make a deposit of 0.001 BTC.
Potential traders will find PrimeXBT's interesting features, such as:
Cryptocurrency & Bitcoin trading
Deposit of 0.001 BTC or less is required to begin the transaction.
Very quick execution times (7ms) Available 24 hours a day, seven days a week
Simple procedure for registering and logging in
No personal information is needed.
High interest rates for borrowing
Module for covesting (Covest)
Some parts of PrimeXBT should be enhanced as well:
Deposit and withdrawal options are limited
Only online customer service is available.
There will be no trading by robots.
There is no demo account.
Hours of operation
Although overnight swaps are still paid for positions held open after 23:59 UTC, PrimeXBT clients can trade in cryptocurrencies around the clock. Except for USD/RUB, all PrimeXBT forex pairings are open from 21:05 to 21:00 the next day.
A 24-hour trading window for precious metals is available. Due to local trading hours, commodities and indexes have a wider range of trading hours.
PrimeXBT's trading platform has a live chat feature in the lower right corner, staffed by a team of knowledgeable agents who are available 24 hours a day, seven days a week. In the case of a more complicated problem, the lack of telephone or offline help might prove irritating.
With that said, the understanding of support employees is strong and they’re able to help with a range of inquiries, from liquidation pricing and platform maintenance, to account queries and help if orders are denied.
On top of that, the broker may be reached at email@example.com via social media.
When it comes to PrimeXBT, no personal information is required except a Bitcoin deposit, which means any danger is limited to the amount of money placed. With this comes a level of security that is tested and audited on a regular basis to ensure the safety of the client's money.
The Google Authenticator app may also be used as an extra kind of multi-factor authentication, which requires both the password and a personal smart device running the software.
In order to protect the majority of PrimeXBT's assets, the company uses an offline security mechanism, with just a small amount of Bitcoin stored online for trading purposes.
It is impossible to read account credentials if the website has been hacked since all traffic is encrypted with secure socket layer (SSL) encryptions.
It's worth keeping a watch on PrimeXBT, an up-and-coming broker that places a high priority on technical innovation, building user-friendly trading interfaces and Covesting tools.
When it comes to protecting customers from hackers, PrimeXBT relies on anonymity and cybersecurity rather than regulation. PrimeXBT has an edge because of its quick execution times and high leverage rates, but it might enhance its customer service and the Turbo trading platform.
Australian, Thai, United Kingdom, South Africa, Singapore and Hong Kong are just a few of the nations where traders may use PrimeXBT. The company also welcomes traders from the rest of the world.
Customers from the following countries are not allowed to use PrimeXBT: the United States of America; Japan; Saint Vincent and the Grenadines; Canada; Algeria; Iran; Syria; Korea; Sudan; United States Outlying Islands, American Samoa; and Russian Federation.
Is it necessary to get your ID verified in PrimeXBT? All that is necessary for a PrimeXBT account is a valid email and password.
PrimeXBT's minimum deposit amount is currently unknown. 0.001 BTC is the minimum deposit for a PrimeXBT account.
Is PrimeXBT a sham? Switzerland-based PrimeXBT is a genuine cryptocurrency exchange. A privacy-focused strategy preserves customer security even if this service is unregulated.
Is social trading an option with PrimeXBT? In the social trading component of the site, traders may compete against each other for a position on PrimeXBT's leaderboard, although there is no copy trading feature.
Is PrimeXBT accessible in the United States and Canada, or is it just available in Europe? It is not possible to use PrimeXBT if you live in the United States or Canada since it is an unregulated cryptocurrency exchange. PrimeXBT, on the other hand, is accepted in more than 150 countries across the world. Countries that are prohibited from using this service can be seen in our evaluation.
Prime XBT is a trading platform that was introduced in 2019, and it enables
investors to take advantage of the possibility of using leverage while trading
Bitcoin as well as other major cryptocurrencies.
They have rapidly established themselves as one of the most important participants in the margin-trading business, competing with giants like BitMex.
The goal of the exchange is to eliminate many of the issues that plague competing platforms, such as drawn-out procedures for KYC approval, unanticipated downtime, limited order types, poor user experience, high trading fees, and failing markets. Specifically, the exchange aims to eliminate these issues.
PrimeXBT, on the other hand, has phenomenal leverage, a user interface that is quite intuitive, massive liquidity, and substantial trading volumes. Continue reading for our comprehensive analysis.
When it comes to trading cryptocurrencies, the majority of platforms offer extremely restricted leverage, which is one of the many qualities that expert traders typically seek for. PrimeXBT separates out from other exchanges since it provides leverage of 1:100.
This indicates that you have the purchasing or selling power equivalent to one hundred dollars for each one dollar that you spend. Because of this, you will effectively have access to a bigger market position, which will allow you to generate even higher gains (or losses, as the case may be).
One of the most important aspects of PrimeXBT is its leverage, which is also one of its primary characteristics. In addition, for the benefit of visitors who may still have questions with the concept, the website provides an in-depth analysis of leverage.
This explanation features a demonstration using the BTC/USD currency pair as an example.
For the purpose of this illustration, let's say that one Bitcoin is now worth $10,000 and that its price increased by 5% throughout the time that you invested.
If you used a conventional exchange where leverage was not an option, you could purchase 10 Bitcoin for the sum of $110,000 (10 times $10,000).
If the price increases by 5%, each of your bitcoins will be worth $10,500; hence, if you sell them, you will generate a profit of $5,000 off of your initial investment of $100,000.
In comparison, if you were to execute the identical trade on PrimeXBT with its 1:100 leverage, you would only need to pay one percent of the $100,000 position, which would be an investment of $1,000 up front. This would be the case if you choose to make the trade.
In the identical circumstances, this indicates that you would come out ahead with $5,000, even though you would have only invested $1,000. To put it another way, you may significantly increase your profits while maintaining the same level of original cash.
PrimeXBT provides an explanation of some of the benefits associated with trading with leverage. These benefits include the capacity to increase earnings, gearing possibilities (the ability to free up cash that may be used for another investment), and the chance to gain while the market is falling.
On PrimeXBT, you'll also find a helpful leverage calculator, which will allow you to determine your purchasing power based on the amount of cash you have available.
Bear in mind that the possible reach of your finances and the potential gains will both expand if you use leverage, but the potential losses will also increase if you use leverage.
As a result of this, you should never use the full leverage that is available on PrimeXBT without exercising extreme caution. Having said that, people who have prior knowledge in trading and are self-assured in their approach discover that leverage is a really helpful instrument.
Since there is no guarantee that the value of cryptocurrencies will continue to rise, PrimeXBT provides customers with opportunities to make money regardless of whether or not the market is increasing. You may trade any of the most popular cryptocurrencies, and so protect or increase the value of assets you already have, as well as benefit from market rallies or drops.
To put it another way, you have the option of going long or short using PrimeXBT. When you buy, you are taking the long position, and when you sell, you are taking the short position. In order to take a long position, you would have to purchase Bitcoin and then wait for the value of your account to climb in tandem with the price of BTC.
In this scenario, the value of the money in your account would decrease if the price of bitcoin dropped. You may also "go short," which means you establish a position that will grow in value if the price of bitcoin falls. This is in contrast to "going long," which involves buying bitcoins.
On PrimeXBT, you will be able to observe particular examples along with calculations for each of these different kinds of deals. You will also get information on how to calculate your profits, which will allow you to comprehend everything that is happening in your account. To determine whether you made a profit or a loss, all you need to do is multiply the difference in price points between when the position was opened and when it was closed by the size of the position. You may make your stake larger by combining it with leverage, which means borrowing money to invest.
PrimeXBT stands apart for a number of reasons, including the fact that users have the option to trade long or short and that they may enjoy leverage of up to 1:100. It provides support for numerous monitors in addition to having a very user-friendly interface that can be completely customized.
The trading platform is an excellent choice since it is risk-free, dependable, and quick all at the same time. It is straightforward enough that even novices can comprehend it, but at the same time, it provides the sophisticated capabilities that experienced traders want.
The charting capabilities are very helpful due to the fact that there are many chart kinds, a variety of drawing tools and indicators, and the possibility to trade directly from the chart. Additionally, PrimeXBT has extremely minimal costs for trading. You will find that the commission rates are both transparent and reasonable, so there won't be any surprises. In addition to this, PrimeXBT provides competitive spreads.
Before you register an account with PrimeXBT, you have the option to get a sense for how the live trading platform functions through a preview of it. The preview version of the platform and the actual version of the platform are extremely interchangeable.
The single differentiating feature may be found in the very bottom part of the screen, which is called "Positions." If you have a live account, you will be able to view a list of positions that includes the following fields for each one: symbol, position ID, time and date, side, size, fill price, current price, take profit, stop loss, and profit and loss.
This part is blocked out since the preview version is not connected with an account; however, above it you will see the option to either log in or register for an account.
In general, the trading platform lives up to all of your anticipations, since it is quite analogous to the trading pages that seasoned traders are accustomed to using. You will see a list of cryptocurrency pairs in the upper left corner of the screen.
The LTC/USD, BTC/USD, ETH/USD, EOS/USD, and XRP/USD exchange rates are some examples of these. You are able to examine the ask price, the bid price, and the change for each item. These numbers are represented by white, green, or red, depending on the color code.
As was to be expected, a green bar represents a gain, whilst a red bar represents a fall.
If you click on any of the pairings that are presented here, you will be sent to a new screen that gives you the option to purchase or sell the cryptocurrency in question. It will show the pricing for buying and selling as well as the low and high for the pair that you are now viewing.
The Order Book may be found directly below this area, continuing to appear on the left side of the screen. The Order Book will show you the information relevant to the currency pair that you most recently chose in the top left corner of the screen. The whole thing is broken down into sales and purchases. In addition to displaying a list of the quantities and prices, this Order Book also provides a graphical representation of the information in the form of graphs in green and red that are located in the background. This is a very convenient feature. You may get a quick overview of the most recent developments in this method.
The actual chart, which is located just to the right of the cryptocurrency listings and the Order Book and takes up the majority of the page, is the most important component of the trading website. The trading pair that each point on the chart represents is indicated in the upper left-hand corner of the chart.
You are able to make adjustments to this by clicking on the box in which it is listed, putting in the new pair, and seeing the autofill choices that appear, or by clicking on the pair to the left in the crypto listing area.
Candlestick charts are what you'll get when you open up the PrimeXBT trading chart by default. Prices are displayed along the vertical axis, while time is displayed along the horizontal axis. It is color-coded green and red. When you move your mouse pointer over any point on the chart, you will get more information about that position, including the open, high, low, and close values.
Adjusting the time graph that is located directly below the main chart will allow you to expand or contract the time range that is displayed. The vast majority of the settings are located at the very top of the table.
You may adjust the distance between each candlestick by using the menu that drops down from the top of the screen. You may change the default setting of 5 minutes to 1, 15, or 30 minutes, 1, 2, or 4 hours, 1 day, week, or month. The default setting is 5 minutes. You have the option to switch between a line graph and a bar graph or a candlestick chart directly to the left of this box.
Following this, you will see a list of settings pertaining to crosshairs. You also have the option of selecting either long or short lines, in addition to 13 other indications, lines, and tools to add. A trend line, a trend channel, and the Fibonacci Rays are some examples of these. There are many others.
The Studies area, which can be accessed by an icon depicting a test tube to the right of the options listed above and to the left of Studies, is something that advanced traders will find to be of interest. You have the option of selecting one of the available research from among many dozen, or you may bring in your own study. You can use as many as five at once.
When you trade with PrimeXBT, you can do it in one of two ways. You can select a pair by clicking on them on the left side of the page, and then fill out the form that displays. You might also make use of the area that is located in the upper left corner of the chart, just beneath the name of the pair.
Trading fees and overnight lending costs are the two categories under which PrimeXBT classifies its expenses. As a result of the fact that instruments are leveraged goods, you finance the value of the traded instrument using an overnight loan.
This cost of borrowing (finance) is determined by the liquidity of the asset that is serving as collateral. You will not have to pay for overnight financing if you initiate and finish a leveraged position on the same trading day.
The exposure limit is a limitation that governs the maximum size of a stake that an individual customer of PrimeXBT may have at any given time. Customers will not be able to submit orders on the trading platform that, if carried out, will cause them to go above the limit.
The PrimeXBT risk management department is the one that decides on the limitation, and it takes into account a variety of elements like instrument liquidity, volatility, and other market circumstances.
In the increasingly competitive market for cryptocurrency trading, PrimeXBT has developed a credible service.
The trading site is intuitive, and PrimeXBT is distinguished from its rivals by the cheap fees it charges, the narrow spreads it maintains, and the industry-leading leverage it offers of 1:100. The exchange had its formal opening the year before last and has since gone on to establish a solid name within the sector.
If this is your first time trading in such a manner, you should proceed with extreme caution, as is the case with all sorts of exchanges that provide the option of using leverage. Especially if you are using a significant level of leverage, it is extremely simple to make mistakes, which can lead to you being forced to sell your bitcoin holdings and incurring a loss as a result.
PrimeXBT is a cryptocurrency trading platform that was launched in 2018 and
has quickly become a leader in the margin trading sector. It is also an exchange
that enables users to trade traditional financial assets in addition to Bitcoin.
Users are able to trade in a variety of marketplaces, including
cryptocurrencies, foreign exchange, indices, and commodities, using Bitcoin as
collateral for their trades. Under the umbrella of its parent company, PrimeXBT
trading services, this exchange was given the registration number 148707 in the
Seychelles. had not begun offering its trading services until the beginning of
2019; thereafter, it established a presence in St. Vincent and the Grenadines
and relocated its trading infrastructure to Switzerland. In this PrimeXBT review
post, we have provided you with all the information that you want on the
PrimeXBT platform. Hopefully, you will find it useful.
The PrimeXBT cryptocurrency exchange is a well-known online platform that also deals in CFDs and other cryptocurrencies. On the platform as a whole, it experiences the largest volume of trade. This business has a successful track record, has seen rapid expansion in a very short period of time, and serves customers all over the world.
PrimaXBT is a powerful trading engine that gives its users access to a variety of specialized trading tools that are not available on other trading platforms. It has implemented security standards that are typical in the business, which protects investor money and the trading operations of investors from the risk of cyberattacks.
It enables users to trade on traditional markets as well as cryptocurrency marketplaces while using Bitcoin as collateral, and it provides several various types of orders, including as limit orders, stop-loss orders, and leverage trading.
Prime XBT allows its customers to utilize accounts that accept only bitcoin, and users can deposit using bitcoin, tether, ethereum, USD Coin, and other cryptocurrencies; however, all of the trades that are conducted on the platform are carried out only in bitcoin. This is according to a review of Prime XBT.
Prime XBT Trading Services provide their cryptocurrency traders with privacy, which means that the customer is not need to go through any kind of necessary KYC procedure before they can begin trading. Despite the fact that it is self-regulated, it has collaborated with a significant number of anti-money laundering agencies located all over the world.
According to the PrimeXBT review, it provides a well-designed and inventive platform where the widgets may be adjusted to meet the user's specific needs. It offers more than 12 integrated liquidity providers that are able to execute more than 12,000 orders per second and makes it possible for typical market orders to be processed instantly.
It is possible for traders to automatically mimic the trades of other successful traders and utilize them to their advantage when using the PrimeXBT module, which connects with other crypto social trading platforms to provide traders with the ability to track their transactions.
Traders may quickly and easily register an account with PrimeXBT by going to the company's website and selecting the Register button from the menu that appears there. Due to the fact that no personal information or verification is necessary, the registration procedure may be completed in under a minute.
The user is required to provide their information, which includes their complete name, email address, and a robust password. The following step requires them to agree and accept the terms of service before clicking the submit button.
After the trader clicks the link in the verification email, they are immediately signed in to their account. A confirmation email is sent to the trader's email address. In addition, Prime XBT does not call for the completion of any KYC procedures, paperwork, or verifications.
The next thing that has to be done is to transfer the money over to their PrimeXBT account. In order to get started trading, the individual may also make deposits using their credit card.
You are able to keep your Prime XBT account safe by utilizing a trusted email address and password combination in conjunction with Google Authenticator-based two-factor authentication (2FA).
Trade fees and overnight financing costs make up the bulk of PrimeXBT's revenue generation. On all transactions that are successfully conducted, PrimeXBT applies trading fees and commissions. Additionally, overnight financing costs are charged by PrimeXBT for keeping a trade open throughout the overnight hours; however, the amount of these fees vary depending on the trading pair.
This platform provides reduced costs overall, and it does not charge fees to make deposits. However, the withdrawal fee will cost 0.0005 BTC, which is the usual fee to cover the cost of a Bitcoin transaction. PrimeXBT does not charge deposit fees.
When a trader establishes or closes a position, they are required to pay a trading fee each and every time. The following is a list of the fees that are assessed by the platform:
A fee of 0.05 percent is applied to all bitcoin transactions.
Charges are made at a rate of 0.01 percent for indices and commodities.
A spread of 0.001 percent is used while trading forex.
According to the evaluation of PrimeXBT, the only form of payment currency that can be used on the platform is Bitcoin, which makes it a cryptocurrency to cryptocurrency brokerage or exchange. In addition, this will have an effect on the procedure as well as the manner in which users obtain their funding.
This exchange only works with digital currencies to complete transactions. Within the area for making deposits, it provides a widget that allows users to buy Bitcoin using their credit or debit cards. If the user already possesses bitcoins, it is a simple matter to transfer those bitcoins into their account by using the bitcoin deposit address.
The process of withdrawing the monies is an uncomplicated and uncomplicated one. In order to move forward with the procedure, the user will be required to provide both the quantity and a personal bitcoin address. This platform offers address whitelisting, which means that the addresses may be utilized for withdrawals right away because they have already been preconfigured. The cost for withdrawing funds is currently set at 0.0005 BTC.
To facilitate transactions on the forum, this platform allows users to exchange cryptocurrencies like as Bitcoin, Litecoin, Ethereum, Ripple, and EOS, amongst other supported cryptocurrencies.
PrimeXBT offers a variety of the most well-known indexes, including the SP 500, FTSE 100, ASX 200, and DAX30, amongst others.
Users have the option of trading in the foreign exchange market using either minor or substantial currency pairings. In addition, when they execute transactions, they will be subject to a commission as well as any applicable trading costs.
Users have the ability to trade a variety of commodities, including gold, natural gas, crude oil, and so on.
PrimeXBT is a fantastic trading platform that was built to be user-friendly for traders of all experience levels and gives a hassle-free experience. In spite of the fact that it possesses a number of innovative trading capabilities, the platform can be accessed through a web browser and does not call for any kind of installation or download. It includes a multitude of trading chart kinds and analysis tools, in addition to fifty different technical indicators, and much more. The user interface of the platform supports a wide variety of execution techniques, trade histories, and visualization tools. It also allows for complete customization.
PrimeXBT provides a trading platform known as Turbo, which is designed to be user-friendly even for novices. Users are given the opportunity to take a position in an asset in exchange for a predetermined gain. This means that the trader will receive a predetermined payout if their current market price forecast is accurate after a predetermined length of time has passed.
The consumers have three options to choose from when it comes to the length of time that the transactions last, such as 30 seconds, 1 minute, or 5 minutes. At the moment, this platform is able to offer a variety of trading pairings, including BTC/USD, GBP/USD, ETH/USD, EUR/USD, EUR/JPY, and USD/JPY, amongst others.
On their platform, PrimeXBT makes a Covesting module available to any and all users that register with them. Traders are given the ability to replicate and carry out the successful trading techniques of other professional market participants.
The first cryptocurrency exchange to offer this one-of-a-kind functionality also provides its customers with a trading environment that is open and honest. In addition to this, it enables traders to establish and maintain their trading strategies in order to execute winning transactions based on the current state of the market. This affords both novice and experienced traders the chance to increase their potential for financial gain.
PrimeXBT affiliate is a one-of-a-kind program that provides its users with several opportunities to earn incentives. To become a partner, it offers marketing tools as well as access to affiliate programs. The affiliate partner will receive a commission consisting of a modest percentage for each reference they make.
For instance, if a trader brings in a new customer through the affiliate program and executes a trade worth $1000 in BTC, the trading fees for PrimeXBT are $50, which is 0.05 percent, and the affiliate partner gets 20 percent of that, which is $10 as a reward. PrimeXBT trading fees are calculated as follows:
The PrimeXBT mobile app is available for download from the Google Play store, and users may use the app on their mobile devices. In the course of our evaluation of Prime XBT, we discovered that the platform supports two-factor authentication. This indicates that you will be required to use the Google Authenticator app on your phone in order to approve the login. Although enabling two-factor authentication on your phone is strongly recommended, doing so is not required on your end. You may accomplish this in a snap by navigating to the "security settings" section of your account and using the choices for account management there.
You will be presented with a QR code as well as a backup key from PrimeXBT. This has been the subject of a number of positive reviews, and several thousands of individuals have already downloaded it. After opening a new account using the mobile app, the customer is then able to trade more than 30 different assets, including Forex, cryptocurrencies, commodities, and indices, amongst other things.
The user interface of the mobile app is straightforward, making it simple for users to use the app and have access to sophisticated charting capabilities. Users are able to exercise control over their own accounts and can make deposits as well as withdrawals on the same trading day.
The Prime XBT exchange has a robust and wide cybersecurity network that ensures their clients' assets are protected from any and all potential risks. This network ensures that stringent policies and safeguards are in place for their customers. In addition to this, it carries out routine inspections and audits, and it also provides a platform that ensures stringent safety requirements have been met by the platform.
The PrimeXBT trading platform has been developed to function in accordance with the highest standards prevalent in the industry. These systems each have their own distinctive coding, which helps to maximize order execution, speed, and reduce latency. When an order is made, it performs comprehensive risk management by automatically monitoring and managing all of the risks connected with the order size, purchasing power factor, maximum position size, profit or loss.
This platform provides protection for customers' wallets by storing their digital assets in cold storage, which is not connected to the internet. In addition, just a fraction of their digital assets are stored in their best cryptocurrency wallet, hot wallet, or online trading wallet. These wallets are referred to as hot wallets.
This platform utilizes multi-signature, commonly known as "Multisig," to prevent unauthorized access and give tolerance and attacks for losing access to their key by removing single points of failure. In addition, multi-signature helps provide tolerance for losing access to the platform. The process of transferring funds from the storage to their wallets is done manually, and it involves the participation of many people.
A comprehensive verification procedure is necessary for the operation of the Prime XBT system, which uses a dual-factor authentication procedure. When compared to employing single-factor approaches, such as requiring simply a password, this provides a better level of safety for the user.
Whitelisting of withdrawal addresses is an additional layer of security that PrimeXBT provides for its customers. By granting their customers the ability to whitelist a certain withdrawal address, this provides an additional degree of protection for their business. If someone gains illegal access to the administration page of your trading account, this feature can assist you in preventing transfers to wallets that do not have permission to receive them.
The data that is sent over the internet from the PrimeXBT website is encrypted using SSL technology, which stands for secure socket layer. This technology is secured by a firewall. If this is done, the hackers will not be able to steal the extremely confidential personal information that is being safeguarded.
Prime XBT is open 24 hours a day, seven days a week, and their staff is quite competent; they are happy to assist consumers at any time. It does it by providing help through two distinct kinds of support channels:
Users can send an email to either firstname.lastname@example.org or email@example.com to contact the support staff. They may submit their inquiries to the customer support staff, and they will get a response to those questions within a few hours at the most.
Additionally, PrimeXBT provides real-time online chat, which can be accessed on the company website to obtain an immediate response through the medium of chat help. The consumers can obtain an answer to their questions within a few seconds at the very most.
To summarize, PrimeXBT is one of the most well-known and well-protected bitcoin-based exchanges that gives its customers the opportunity to engage in leveraged trading and provides them with the tools necessary to participate in the trading of cryptocurrencies. As a result of this, it is included in the list of the best cryptocurrency exchanges. Additionally, it is a self-regulated network that offers its users high-level security mechanisms as well as privacy protections.
It offers margin trading, and the costs that are levied by the platform are significantly cheaper. In comparison to other forms of media, Prime XBT serves thousands of users each and every day; furthermore, tools such as Turbo and Covesting assist new traders in comprehending margin trade and leveraged trading, and new traders may also learn trading from the experiences of previous traders. If a customer wants to trade cryptocurrencies while paying the lowest possible costs, the ideal platform to utilize is Prime XBT.
Prime XBT is a corporation that is deemed to be both a market maker and a genuine business, and it has been incorporated in the Republic of Seychelles under the name Prime Technology Limited, which is a Seychelles company with the registration number 217308. This global exchange has seen a rise in popularity since it first opened its doors, and it now has thousands of users located in more than 150 countries throughout the globe.
Users of Prime XBT have access to a secure cryptocurrency trading platform, where they may participate in a variety of market kinds. It provides its consumers with a maximum leverage of one hundred times. Because it does not have any reports about breaches and because it offers its users the highest security settings, methods, and protocols, it guarantees the protection of its customers. It makes sure that the user uses two different forms of authentication and saves the monies belonging to its customers in cold storage wallets.
Because it is a self-regulated exchange, PrimeXBT is not subject to the oversight of any authority.
To make a withdrawal, the user must first visit the Prime XBT website and sign in to their account there. They have to select the option to withdraw their money. Before customers can make a withdrawal, they must first move their money from their trading account to their wallet. This is because withdrawals can only be done after the money has been moved. The following step would be to enter in the destination address, after which you would select the option to "submit to withdraw." You are only allowed to withdraw funds to wallet addresses that have been approved in advance.
In order to make use of the welcome bonus of fifty percent of your initial deposit, the minimum amount of Bitcoin that must be deposited is 0.01 BTC.
The Platform does not charge any fees associated with deposits; nevertheless, there are transaction costs associated with withdrawals.
Trading foreign exchange is a complicated instrument that carries a significant potential for experiencing a quick and substantial loss of capital owing to the use of leverage; as a result, these products are not appropriate for all types of investors. Before moving further, it is important to get the opinion of an impartial financial professional.
Sites like PrimeXBT in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.