Prime XBT: Reviews and Opinions

Prime XBT is a multi-asset trading platform that allows you to trade cryptocurrencies, crypto futures and traditional financial instruments such as Forex, commodities and many other assets from a single account.

Despite the variety of assets, PrimeXBT is extremely easy to use: in a few minutes is it possible to open an account and deposit Bitcoin (BTC) or other crypto assets. The trading software offers a unique mobile leverage system with up to 100x leverage trading on cryptocurrencies. For trades on traditional assets, leverage of up to 1000x is offered. The software is available to traders in over 150 countries worldwide!

Prime XBT Review: key features

PrimeXBT is an excellent cryptocurrency and crypto futures trading software for traders that are looking to use Bitcoin (BTC), Ethereum (ETH) and Stablecoin (USDT/USDC) or fiat money accounts as margin collateral to trade cryptocurrencies and traditional markets.

But that’s not all. Its multi-asset software is based on cryptocurrencies and allows you to deposit and use multiple assets to trade like Bitcoin (BTC), Ethereum (ETH), USD Tether (USDT), USD Coin (USDC) and Covesting (COV). Profits and capital are settled in the base currency of each particular trading account.

With Prime XBT you can also trade crypto futures on Bitcoin, Ether, Litecoin, DogeCoin and XRP with up to 100x leverage along with major global stock market indices, commodities and forex with up to 1000x leverage. The software supports more than 100 asset pairs from both the crypto and traditional market.

Let us also recall how the platform provides a highly customisable user interface, complete with advanced charting tools and technical indicators. In fact, traders can access cryptocurrency futures trading, enjoying competitive commissions and low trading costs! In addition, PrimeXBT offers also high leverage of up to 100x for crypto futures and seamless integration with TradingView for an enhanced graphical experience, thus becoming a complete and functional software for every need.

For professional users, we note how the software’s advanced risk management features and adjustable margin system further contribute to its attractiveness to traders of all levels. It comes with more than 12 built-in liquidity providers, capable of executing up to 12,000 orders per second and ensuring that the average order is executed in less than 7.12 ms.

As far as commissions are concerned, PrimeXBT is extremely transparent and guarantees some of the lowest commissions around. The software is also very privacy-conscious: there are no traditional KYC checks provided by many brokers, although the software is still active in the strictest cooperation with various anti-money laundering (AML) service providers in order to guarantee the best protection for its traders.

With these initial assessments, we can certainly describe PrimeXBT as an ambitious player in the crypto futures trading sphere. It is likely to continue expanding its loyal user base and become a preferred destination for both new and experienced margin traders, considering its user-oriented focus, convenience and ever-growing range of innovative features.

Prime XBT History

Prime XBT is founded and registered in Seychelles in 2018 under the holding company name PrimeXBT trading services. In 2019, Prime XTB launch its trading services and opened an office in St. Vincent and the Grenadines. As of today, software is accessible in more than 150 countries.

Prime XBT Rates

Prime XBT is in the cheapest bracket of exchanges: software doesn’t charge any deposit fees, but any withdrawal will cost you 0.0005 BTC or other crypto equivalent, a standard fee in crypto market. Other main commissions on PrimeXBT are the trading commission and overnight funding.

The trading commission is charged every time you open or close a position:

• 0.05% for cryptocurrency trades
• 0.0% for forex, indices and commodities

While competing exchanges offer discounts for market makers, PrimeXBT is an STP broker and always pays for order execution at the liquidity provider. Overnight funding fees on long and short positions range from 0.0959% to 0.0972% on forex and 0.05% to 0.0833% on cryptocurrencies. Fees are subject to change and users should check the official fees and conditions page for the latest information.

Security at PrimeXBT

Security is by far the most critical aspect of any trading platform. Most of the cryptographic assets stored in Prime XBT’s portfolio are kept in cold storage, secure archives locked offline to minimise the possibility of unauthorised access. The funds needed to cover daily withdrawals are stored in a hot wallet. Transfers between hot and cold wallets are confirmed using multiple signatures, considered an industry-standard security measure and helps alleviate the risks of having a single point of failure.

Other security measures implemented by the exchange include Cloudfare’s protection against Distributed Denial of Service (DDoS) attacks. The hardware is hosted on Amazon Web Services servers, ensuring it has sufficient capacity to run its powerful and efficient trading engine. All data exchanged between you and the platform is encrypted using full SSL encryption and is almost impossible to intercept.

PrimeXBT allows you to protect your account using a combination of email and complex password together with 2FA (2-factor authentication) based on Google Authenticator. It also protects your password and privacy by hashing it using bcrypt with a cost factor of 12 and encrypting all other sensitive data.

In addition, there is an address whitelisting function, which allows you to withdraw funds only to pre-approved addresses. This can help you prevent transfers to unauthorised wallets, which is useful in case someone gains unauthorised access to your trading account.

Prime XBT App

With PrimeXBT app traders can easily trade cryptocurrencies, forex, commodities and other assets on a intuitive platform: customisable charts, technical analysis and leveraged trading enhance the experience!

How to open an account on Prime XBT

Registering an account to start trading on Prime XBT is very easy and takes only a few minutes:

1. Registration form. Sign up HEREwith your e-mail, confirm it and log in to the software;
2. Fund your account. Deposit your BTC (or other payment methods) directly on the software;
3. Start trading. Now you can trade cryptocurrency, Forex, commodities and other assets with up to 1000x leverage.

Deposit and Withdrawal Methods

You can deposit and withdraw using BTC. Alternatively, you can deposit and withdraw Tether USD (USDT) and USD Coin (USDC) using the ERC20, BEP20 and TRC20 networks. Ethereum (ETH) Covesting (COV) can be transferred using ERC20 or BEP20.

With regard to withdrawals, there are no limits, but the amount should be higher than the preset bitcoin network transaction fee of 0.0005 BTC. The fee for ETH withdrawal is 0.002 ETH (ERC20) or 0.00007 ETH (BEP20), USDT and USDC withdrawals will cost you 10 USDT/USDC(ERC20) or 1 USDT/USDC (BEP20, TRC20), while VOC withdrawals carry a fee of 5 VOC (ERC20) or a fee of 2 VOC (BEP20).

Sign up – Prime XBT