PrimeXBT Review 2025:
All you need to know

Regulated regions

• South Africa: Financial Sector Conduct Authority (FSCA) under license number 45697 as an authorized Financial Service Provider (FSP).
• Seychelles: Financial Services Authority (FSA) under license number SD162.
• Mauritius: Financial Services Commission (FSC) under license number GB24203383.
• El Salvador: Bitcoin Services Provider (BSP) license issued by the Banco Central de Reserva (BCR), registration number 66d10393e8a00a3181b8e457.

Currencies accepted for deposits/withdrawals

• Cryptocurrency: PrimeXBT supports deposits and withdrawals in popular cryptos, including Bitcoin (BTC), Ethereum (ETH), USD Tether (USDT), and USD Coin (USDC), amongst others.
• Fiat (E-wallets & local methods): PrimeXBT allows deposits in different local currencies, which are automatically converted to USD. Withdrawals are made in USD.

Account types

• Standard Trading Account: This single account enables traders to access leveraged trading across multiple markets, including cryptocurrencies, forex, commodities, and indices.
• Copy Trading Account: This account is designed for those who prefer to follow and replicate the strategies of experienced traders. This account allows users to copy the trades of selected strategy managers automatically.
• COV-Denominated Account: Traders looking to leverage PrimeXBT’s native Covesting token (COV) can access COV-denominated margin trading through copy trading accounts. These accounts enable the use of COV tokens as collateral, offering enhanced flexibility and unlocking additional benefits within the Covesting ecosystem.
• PrimeXBT does not offer Islamic Accounts.
• It does not offer a Percentage Allocation Management Module (PAMM) or Multi-Account Manager (MAM) accounts.

Minimum deposit

No minimum deposit is required.

Costs and fees

• Forex: Spreads starting from 0.1 pips.
• Indices and Commodities: Spreads from 0.1%.
• Cryptocurrency: Variable spreads plus 0.05% commission fee.
• Other fees:
• Rollover fees apply for overnight positions and are dependent on the traded instrument.
• Forex swap fees start from -0.01% for longs and 0% for shorts.
• Commodity swap fees start from -0.03% for longs and 0% for shorts.
• Indices swaps fees start from -0.03% for longs and from 0.06% for shorts.
• PrimeXBT charges funding rates every 8 hours for open positions in Cryptocurrency futures trading. These rates are calculated based on the position size and the current funding rate for the specific crypto futures contract. Crypto swap fees start from 0.03% for longs and -0.09% for shorts.
• The rates and costs are available on the broker’s website.
• No inactivity fees.

Bonuses and promotions

PrimeXBT offers rewards, contests, promo codes, a referral program, and an affiliate program, which can be accessed through the rewards dashboard.

• Welcome Bonus Promotion: New account holders can receive a bonus based on their initial deposit and trading activity. To qualify, users must deposit at least $300 within 48 hours of opening their account. The bonus amount depends on the deposit size and trading volume, with a maximum bonus of $500 available. Users must trade enough to fill the progress bar, which tracks the required trading volume. Once the progress bar is completed, the bonus becomes available for claiming and can be transferred to the trading account.
• Deposit Bonus: Traders can receive a percentage-based bonus on their deposits, increasing their trading capital. Deposits between $500 and $1,000 may earn a 20% bonus, while larger amounts qualify for up to 40%. Bonus funds can be used for trading but may have withdrawal conditions, such as meeting a required trading volume.
• Trader Rewards: Traders can earn up to $31,000 in bonuses by completing specific trading volume milestones. As traders execute trades and reach predefined volume targets, portions of the bonus are progressively unlocked. Once unlocked, these bonuses can be claimed and transferred to the trading account, providing additional funds for trading.
• Trading Contests: Free weekly contests offer up to $10,000 in tradable bonuses. Participants trade with virtual funds in a risk-free environment. Prizes are non-withdrawable but can be used for trading.
• Referral Program: Participants can earn commissions on trading fees generated by referred users to provide passive income.
• Reward Center: A centralized hub to track and manage all bonuses earned. Bonuses can be transferred to trading accounts from the ‘Hub’ section.
• Key Considerations: Bonuses are non-withdrawable but can be used as collateral for trading. Withdrawing personal funds may result in the removal of bonuses, so traders should maintain sufficient margins to avoid disruptions. Additionally, bonuses expire and must be used within the specified timeframe.

Depositing ease

Deposits can be made to your PrimeXBT wallet for managing cash balances or directly into a trading account, including CFD, Crypto Futures, or MT5 (where available).

• Cryptocurrency Deposits:
  • To make a deposit, you must copy a unique address or scan a QR code. Transactions are credited once processed on the blockchain and will appear in your transfer history, typically taking between 10 and 60 minutes depending on network congestion.
  • Currently, BTC deposits require three block confirmations, which usually take around 40 minutes on average. ETH, COV, USDT, and USDC deposits require 10-20 block confirmations depending on the blockchain, which generally take around 4 minutes.
  • Note that deposit options differ by region. For example, clients from South Africa cannot make deposits using cryptocurrency.
• Fiat Deposits:
  • Fiat deposits on PrimeXBT are typically processed instantly, with local currencies automatically converted to USD at the current exchange rate. While bank card deposits are usually immediate, bank transfers may take 1-3 business days, depending on the originating bank.
  • The minimum deposit amount will depend on the method you use: Volet ($10), bank cards ($30), and local methods ($15).
  • USD deposits through AdvCash are processed instantly. Depending on the user's country, deposits can be made using credit/debit cards, bank transfers, e-wallets such as Volet and Binance Pay, and other online payment methods.
  • The experience of opening an account and depositing funds via a debit card was straightforward and seamless. In the UK, this was the only deposit method available to us.

Withdrawing ease

All pending USD withdrawals are processed daily between 12:00 and 14:00 UTC. Withdrawals requested before 12:00 UTC will be processed on the same day, and any withdrawal requested after 12:00 UTC will be processed the next day.

First-time withdrawals must be made to the same card or crypto wallet used for the deposit for security reasons.

Crypto withdrawals are typically processed instantly or within 24 hours, depending on whether they are approved for manual or automatic withdrawal. A risk assessment process determines this to ensure the highest security for the funds.

You can withdraw a total equivalent of 20,000 USD in cryptocurrencies daily without Know Your Customer (KYC) verification.

While there is no minimum amount for crypto withdrawals, you must ensure it is more than the withdrawal fee.

We initially consolidated the funds from the accounts we had opened and moved them into the wallet before withdrawing.

However, we encountered a few issues when making the withdrawal. PrimeXBT processed our initial withdrawal but was subsequently rejected by our UK bank. Customer support suggested using a different debit card, which required a new deposit to register the card, but the withdrawal failed again, and the amount was returned.

Customer support subsequently suggested using a Revolut account to complete the transfer, as it is crypto-friendly. After making a small deposit through Revolut to register the account with PrimeXBT, our full withdrawal was successfully processed and instantly credited to our bank. There were no fees, with only the exchange rate applied.

Withdrawal fees

Withdrawal fees are competitive, e.g., 0.0005 BTC, and free for fiat withdrawals using a credit/debit card and Volet.

The minimum withdrawal amount will depend on the method used: Volet ($15), bank cards ($30), and local methods ($15).

Crypto fees:

• BTC: 0.0005 BTC, for ETH, USDT, USDC and COV withdrawals the fees vary depending on the network used.
• ERC-20 network: 0.002 ETH, 5 USDT, 5 USDC, 5 COV.
• BEP-20 network: 0.00007 ETH, 0.8 USDT, 0.8 USDC, 2 COV.
• TRC-20 network withdrawals are available in USDT: 3 USDT.

PrimeXBT's withdrawal fees are generally competitive with industry standards, particularly for BTC and ERC-20 token withdrawals. However, for TRC-20 network withdrawals, PrimeXBT's costs are higher than those of some leading exchanges.

Tradeable asset classes

PrimeXBT offers a range of tradable instruments across various assets, including Forex, Commodities, Indices, Crypto CFDs, and Crypto Futures.

• 47 Forex CFDs, including Majors, Minors, and Exotics.
• 41 Cryptocurrency CFDs, including BTCUSD, ETHUSD, XRPUSD, LTCUSD, etc.
• 11 Indices including the S&P 500, Nasdaq, Dow, UK100, French CAC, German DAX, Hang Seng, etc.
• 10 Commodities CFDs including Gold, Silver, and other base metals. Energies including Crude Oil and Natural Gas.
• 35 Crypto Futures, including all of the major cryptocurrencies plus many of the other popular Altcoins such as Shiba Inu (SHIB), Dogecoin (DOGE), Polygon (MATIC), Binance Coin (BNB), Polkadot (DOT), etc.

Lot sizes

The lot sizes depend on the specific asset being traded, giving you the flexibility to trade smaller amounts for better risk management.

• Forex Minimum lot size: 100 units.
• Indices Minimum lot size: 0.01 lots.
• Commodities Lot sizes: Vary depending on the instrument and are based on contract specifications.
• Cryptocurrencies Lot sizes: The minimum lot size varies depending on the asset traded. Instead of using a fixed lot size like in forex (e.g., 1 lot = 100,000 units), the lot size for each asset is based on its price and unit structure. (E.g., BTCUSD from 0.001 BTC, Ethereum from 0.01, XRP from 10 units, etc).

Leverage

PrimeXBT offers leverage of up to:

• Forex 1000:1.
• Commodities 500:1.
• Crypto 200:1.
• Major Indices 100:1.

PrimeXBT stands out in the cryptocurrency trading arena by offering exceptionally high leverage for crypto assets, with a maximum of 200:1. This level of leverage is significantly higher than industry standards, as most regulated platforms typically offer much lower ratios. While this can be attractive to experienced traders, it also carries substantial risks and should be approached with caution, especially by those new to leverage trading.

Execution quality

PrimeXBT operates a Straight-Through Processing (STP) model.

This means that client orders are routed directly to liquidity providers, typically large brokerages and banks, ensuring deep liquidity for clients.

PrimeXBT implements a hybrid approach that leverages both internal order matching and external liquidity providers, and its connection to multiple exchanges provides consistent liquidity.

PrimeXBT does not offer Virtual Private Server (VPS) hosting, which traders often utilize to achieve ultra-fast order execution speeds.

We placed several trades in forex, commodities, indices, and cryptocurrencies and had no issues with order execution or price fills. PrimeXBT handled trades smoothly, with minimal slippage in just one trade. Limit orders were filled accurately, sometimes even at better prices.

Demonstrating the broker's emphasis on strong liquidity and ensuring fast and reliable trade execution without delays. Forex trades, in particular, were precise, giving us confidence in the broker’s pricing.

The platform offers basic trading history, but more detailed reporting would be helpful. Also, we did not receive any email for trade entries and exits, which would have improved the user experience.

Trading platform

PrimeXBT offers a proprietary trading platform accessible on both web and mobile and features integrated TradingView charting. However, PrimeXBT is not a supported broker on TradingView, meaning you cannot view its charts or trade directly through TradingView.

The broker offers an all-in-one platform with seamless navigation across various instruments and asset classes. It is user-friendly and easy to explore.

The MT5 platform is also available through their partner, PXBT Trading Ltd (PXBT). Therefore, if you prefer MT5, you must open an account directly with PXBT.

MT5 features advanced charting tools and automated trading via Expert Advisors (EAs).

Trading tools

PrimeXBT provides market research, educational articles, an economic calendar, market news, and a trading glossary. Their educational resources come in various formats and offer a solid mix of foundational content and more in-depth videos and articles.

These resources can be accessed through their website and PrimeXBT Academy YouTube channel.

The articles are well-researched and timely, with their in-house experts' strong focus on cryptocurrency analysis.

PrimeXBT offers yield accounts and copy trading as simple ways to earn passive income without using complex DeFi liquidity pools. With the Covesting accounts, users can earn interest on their cryptocurrency by automatically connecting to DeFi platforms like Uniswap, Compound, Curve, and Yearn Finance. The platform handles the technical side, making it easy for users to access DeFi yield opportunities without direct management.

PrimeXBT offers a Copy Trading service.

Demo accounts are available.

PrimeXBT does not offer Percentage Allocation Management Module (PAMM) or Multi-Account Manager (MAM) accounts.

Regulation tiers

PrimeXBT operates under multiple regulatory bodies.

• Mid-to-Low Tier
  • South Africa: Financial Sector Conduct Authority (FSCA).
  • Seychelles: Financial Services Authority (FSA).
  • Mauritius: Financial Services Commission (FSC).
  • El Salvador: Bitcoin Services Provider (BSP).

Other Factors

PrimeXBT, as a verified member of the Financial Commission, provides a compensation scheme of up to €20,000 per client for unresolved disputes handled by the independent regulatory body.

While this offers an extra layer of security, it is not the same as regulation by governmental bodies.

PrimeXBT offers negative balance protection, ensuring traders cannot lose more than their initial deposit.

PrimeXBT implements strong security measures, including cold storage, two-factor authentication (2FA) via Google Authenticator, SSL encryption to protect user data, and anti-money laundering (AML) compliance using Bitfury’s Crystal software to monitor transactions. These measures help safeguard funds and prevent illicit activity.

PrimeXBT does not accept clients from United States of America (US Reportable persons), Japan, Canada, Cuba, Israel, Iran, New Zealand, Syria, North Korea, Sudan, United States of Minor Outlying Islands, American Samoa, Russian Federation, Myanmar, Saint Lucia, Puerto Rico, Guam, U.S. Virgin Islands and Northern Mariana Islands.

Additionally, PrimeXBT does not accept users from unrecognized or partially recognized jurisdictions, including but not limited to Crimea, Donetsk People's Republic, Gaza Strip, Zaporizhzhia, and Kherson Luhansk People's Republic.

Schedule and time to reply

PrimeXBT offers 24/7 customer support through live chat, email, telegram, line, and a help center.

We used the chat service on multiple occasions and found it highly responsive. Chat inquiries were answered in under 1 minute, and emails were responded to within 35 minutes.

Customer service provided comprehensive answers and relevant links when needed. While there were occasional slight delays after the initial contact, they explained it was due to a high volume of inquiries. Despite this, response times were generally quick, with most questions answered within minutes.

On one occasion, a customer support representative provided incorrect information about withdrawal costs. However, after further questioning, we clarified the correct details. Customer services could be improved if they ensured all team members were updated with the most recent changes.

Languages available

PrimeXBT supports multiple languages, including English, Spanish, French, German, Italian, Portuguese (Brazil), Hindi, Bahasa, Turkish, Vietnamese, Chinese, Japanese, Korean, Bengali, and Thai.

Their website can be translated into 13 languages.

PrimeXBT provides a straightforward and user-friendly experience overall. The website is clear and well-organized, allowing traders to locate important information quickly. Opening an account is fast and requires minimal paperwork, enabling users to start trading almost immediately.

The trading platform is well-designed, making it suitable for both beginners and experienced traders. It includes valuable tools like advanced orders, multiple charts, and the option to copy other traders. The interface is intuitive, with easy access to various features and trading instruments.

The mobile app offers a similar experience to the desktop version, maintaining user-friendliness and core functionalities. However, some users have reported occasional performance issues with the app compared to its desktop counterpart.

While PrimeXBT excels in many aspects of user experience, there are areas for potential improvement. The platform's trade reporting capabilities are currently limited, as traders can only access basic trade records. Additionally, the lack of data export options (such as Excel or PDF) and detailed trade analytics may pose challenges for active traders who wish to analyze their trading performance thoroughly.

Overall, PrimeXBT's user experience is generally positive. Its intuitive design and comprehensive toolset cater to a wide range of traders.