In the realm of cryptocurrency trading, it is only natural to approach the selection of a trading platform with caution and hesitation. Potential users often find themselves discouraged from opening a trading account due to a lack of credible information in the media or concerns about the platform’s transparency. But what about PrimeXBT? Can we confidently affirm its legitimacy, or is it a question that remains unanswered?
The aim of this comprehensive PrimeXBT review is to provide you with the answers you seek and offer a deeper understanding of PrimeXBT and its trading conditions. To ensure a thorough analysis, we have diligently examined three vital sources of information:
- PrimeXBT Reviews from Real Clients: By gathering feedback from actual users, we aim to present a balanced perspective on the platform’s performance, reliability, and user experience.
- Media Coverage and Expert Opinions: We have carefully assessed the reviews and insights shared by industry experts to gain valuable insights into PrimeXBT’s reputation and standing within the cryptocurrency trading community.
- Our Independent Research: Drawing from a wide range of open-source information and official data, we have conducted our own investigation to provide you with a comprehensive overview of PrimeXBT’s features, security measures, and overall credibility.
We believe that this multifaceted approach will empower you to make an informed decision about whether PrimeXBT is the right trading platform for you. So, without further ado, let us delve into the findings we have meticulously curated through our diligent research methods.
Insights from Real Traders: Unveiling PrimeXBT’s Reputation Through Client Reviews
To gain an unbiased understanding of PrimeXBT’s performance and trading conditions, we turned to the valuable feedback shared by real traders. Recognizing that individual experiences and perspectives shape these reviews, we adopted a comprehensive approach to assess PrimeXBT’s standing by comparing average ratings and considering review volume across various platforms. Here’s what our analysis revealed:
- Trustpilot: PrimeXBT enjoys a solid reputation on Trustpilot, a renowned customer review platform. With a significant number of reviews, the platform has garnered an impressive average rating, reflecting the positive experiences of many users.
- Cryptocurrency Communities: Exploring forums and online communities dedicated to cryptocurrencies, we discovered numerous discussions about PrimeXBT. While opinions varied, a considerable number of traders expressed satisfaction with the platform’s features and trading opportunities.
- Social Media Platforms: Engaging with the cryptocurrency community on social media channels, we encountered a mix of sentiments regarding PrimeXBT. While some traders praised its user-friendly interface and responsive customer support, others highlighted specific areas for improvement.
By considering these diverse sources of real client feedback, we aimed to provide you with a comprehensive overview of PrimeXBT’s reputation and user experiences. It is important to note that individual opinions may differ, and it is advisable to conduct further research and assess your own trading needs before making a decision.
| Platform | Average Score | Number of Reviews |
| Sitejabber | 4.8 | 88 |
| G2 | 4.4 | 28 |
| Capterra | 5 | 32 |
| Reviews.io | 4.7 | 120 |
| Trustpilot | 4.3 | 21 |
| Producthunt | 4.6 | 150 |
| Google Maps | 4.7 | 47 |
| Revain.org | 4.6 | 97 |
Trading Versatility and Efficient Execution on PrimeXBT
While commonly mistaken as solely a cryptocurrency exchange, PrimeXBT provides much more than access to the crypto market. In addition to 41 cryptocurrency pairs, the platform offers a diverse range of trading options, including 51 forex pairs, 14 CFDs, stock indices, and commodities. This extensive selection enables traders to diversify their investment strategies and explore various markets.
PrimeXBT emphasizes efficient execution by offering market orders across its main trading terminal and copy trading platform. Beyond market orders, the platform provides several other order types to cater to different trading preferences:
- Limit Orders: With limit orders, traders can specify the maximum purchase price (for buy limit orders) or the minimum selling price (for sell limit orders). The order will only be executed at or better than the specified limit price.
- Stop-Loss Orders: Traders can set specific prices at which they are willing to buy or sell a particular security. Once the asset reaches the specified price, the stop-loss order is automatically triggered, executing the trade.
- OCO (One Cancels the Other): This order type consists of two conditional orders, wherein the execution of one order automatically cancels the other. If either of the two orders is filled, the remaining order is instantly canceled, providing traders with greater control and flexibility.
These various order types empower PrimeXBT users to execute trades based on their specific strategies and risk management preferences. By accommodating different trading styles, PrimeXBT aims to meet the diverse needs of its traders.
Commission and Fee Structure
| Asset | Market | Commission |
| BTC/USD | Crypto | 0.05% |
| ETH/USD | Crypto | 0.05% |
| EUR/GBP | Forex | 0.0001% |
| EUR/USD | Forex | 0.0001% |
| USD/JPY | Forex | 0.0001% |
| NASDAQ | Index | 0.0001% |
| EUR50 | Index | 0.0001% |
| CRUDE | Commodity | 0.0001% |
| NAT.GAS | Commodity | 0.0001% |
| GOLD | Commodity | 0.0001% |
Leverage Options and Limitations
| Asset | Min. Order Size | Max Leverage |
| ADA/USD | 0.01 ADA | 1:20 |
| BNB/USD | 0.01 BNB | 1:10 |
| BTC/USD | 0.001 BTC | 1:200 |
| DOGE/USD | 0.01 DOGE | 1:20 |
| ETH/USD | 0.01 ETH | 1:200 |
| ETH/BTC | 0.01 ETH | 1:200 |
| LTC/USD | 0.01 LTC | 1:50 |
| SOL/USD | 0.01 SOL | 1:20 |
| XRP/BTC | 0.01 XRP | 1:20 |
| SHIB/USD | 100000 SHIB | 1:5 |
Copy Trading Services: Covesting on PrimeXBT
In addition to its web-based trading terminal and diverse order types, PrimeXBT offers a unique feature that allows users to share and copy trading strategies. This service is facilitated through the Covesting module, which provides an opportunity for users to benefit from the expertise of experienced traders. Here are some important details about Covesting on PrimeXBT:
- Covesting.io: Covesting is a Distributed-Ledger Technology Service Provider registered under the jurisdiction of Gibraltar’s FSC (Financial Services Commission). It serves as a platform where over 400 skilled traders share their strategies for others to follow and replicate.
- Staking Rewards: PrimeXBT clients can earn staking rewards through Covesting. To participate, users need to purchase the utility token called COV and stake it in special yield accounts. This allows them to benefit from the success of the traders whose strategies they choose to copy.
- Free to Use: Covesting is a free service provided by PrimeXBT. Users can access the same range of trading assets and instruments available on the platform. In this case, Covesting is closely integrated with PrimeXBT, allowing users to automatically duplicate trades executed by successful PrimeXBT clients.
- Profit-Sharing: By copying the trades of successful traders on PrimeXBT through Covesting, users have the opportunity to earn a 70% share of the profits generated from each successful trade. This provides an avenue for passive income generation based on the performance of skilled traders.
Cybersecurity Framework
- Dual-Factor Authentication: While PrimeXBT does not require the KYC (Know Your Customer) procedure, which involves sharing sensitive personal information, it ensures user verification through a method known as “two factors” authentication. This feature can be set up after registration and adds an extra layer of protection to the authorization process, reducing the risk of unauthorized access.
- Withdrawal Address Whitelisting: PrimeXBT employs a withdrawal address whitelisting system, which adds an additional level of security to fund withdrawals. Users can only withdraw funds to addresses that have been previously added to a special whitelist. This prevents unauthorized withdrawals to unknown or unverified addresses, mitigating the risk of potential fraudulent activities.
- Wallet Security: PrimeXBT utilizes a cold wallet solution to enhance the security of user funds. Cold wallets are offline storage systems that are not connected to the internet, reducing the risk of hacking attacks. Additionally, all transactions from the cold wallet are manually executed by the company’s professionals. While this manual process may slightly slow down the withdrawal process, it significantly strengthens the protection of assets and minimizes the likelihood of unauthorized transfers.
Pros & Cons
| Pros | Cons |
| Limited payment options potential withdrawal processing delaysLimited customer support channelsHigh leverage options may carry higher risk | Limited payment options potential withdrawal processing delaysLimited customer support channelsHigh leverage options may carry a higher risk |
The Final Thought on PrimeXBT
Overall, PrimeXBT is a comprehensive cryptocurrency trading platform that offers a wide range of trading options across various markets. With advanced features, copy trading services, and strong security measures, it provides a solid foundation for traders. However, limitations in payment options, regulatory oversight, and customer support should be taken into consideration when choosing the platform.
FAQ
What cryptocurrencies can I trade on PrimeXBT??
PrimeXBT offers a wide range of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, Ripple, EOS, and more.
How do I create an account on PrimeXBT?
To create an account on PrimeXBT, simply click on the “Sign Up” button on the website, fill in the required information, and follow the verification process.
Does PrimeXBT offer a demo account for practice trading?
No, PrimeXBT does not offer a demo account for practice trading. You cannot sign up for a demo account to familiarize yourself with the platform and test your trading strategies without risking real funds. PrimeXBT?