Prime XBT Broker Review 2026: All you need to know

• Standard Trading Account: This single account enables traders to access leveraged trading across multiple markets, including cryptocurrencies, Forex, commodities, shares and indices.
• 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 offers Demo accounts and swap-free (Islamic) accounts.

Costs and fees vary depending on the account and the instrument traded.

Spreads and/ or Commissions:

• Forex: Spreads starting from 0.1 pips.
• Indices and Commodities: Varies by asset and market conditions.
• Shares: Spread from 11 pips.
• Cryptocurrency CFDs: Variable spreads only, with 0% commission on PXTrader and MT5.
• Cryptocurrency Futures: Incur maker/taker fees starting at 0.01% (maker) and 0.045% (taker). Spreads are variable based on market liquidity. PXTrader and MT5 platforms use a 0% commission, spread-only model on CFDs, including crypto CFDs.

Swap/Rollover fees: Rollover fees apply to overnight positions and vary depending on the traded instrument.

• Forex: Swap fees start from -0.01% for longs and 0% for shorts.
• Commodities: Swap fees start from -0.03% for longs and 0% for shorts.
• Indices: Swap fees start from -0.03% for longs and from 0.06% for shorts.
• Cryptocurrencies: 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.

Note: Detailed swap rates are published on the fees & conditions section at the PrimeXBT website.

Inactivity fees: PrimeXBT may charge inactivity fees if your account is inactive for a prolonged period. The exact amount and conditions for these fees can vary.

Deposit Fees: PrimeXBT does not charge deposit fees for the most common payment methods, including credit/debit cards, crypto deposits, and Volet. Some fees may be charged by the payment provider, but not PrimeXBT itself.

Withdrawal Fees: Withdrawal fees are competitive, e.g., 0.0005 BTC. Fiat and e-wallet withdrawals may be fee-free depending on the method.

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.

Funding on PrimeXBT is simple and flexible, supporting both crypto and fiat deposit methods. You can add funds to your PrimeXBT wallet to manage your cash balance, or deposit directly into your chosen trading account – whether that’s for CFDs, Crypto Futures.

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: 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 varies depending on the method used, typically starting from $5 USD.
• 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.

User Experience: 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.

First-time withdrawals must be made to the same card or crypto wallet used for the deposit for security reasons. You can withdraw a total equivalent of 20,000 USD in cryptocurrencies daily without Know Your Customer (KYC) verification.

• Minimum withdrawal: The minimum withdrawal amount will depend on the method used: Volet ($15), bank cards ($30), and local methods ($15). While there is no minimum amount for crypto withdrawals, you must ensure it is more than the withdrawal fee.
• Processing times: 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.
  
  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.
  
• User Experience: 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.

PrimeXBT offers rewards, contests, promo codes, a referral program, and an affiliate program, which can be accessed through the rewards dashboard. 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 bonuses by completing specific trading tasks and volume achievements tracked in the Rewards Centre.
• Trading Contests: PrimeXBT holds weekly trading contests that allow participants to compete risk-free using virtual funds, with the opportunity to win tradable bonus rewards. These contests are free to join and provide a dynamic environment for traders to test their strategies and earn real funds to trade on the platform.
• Referral Program: Participants can earn commissions on trading fees generated by referred users to provide passive income. It offers a simple way to earn passive income by inviting others to trade on the platform. Participants receive a 20% commission on the trading fees generated by users they refer, with no earning limits and rewards paid automatically.
• Reward Center: A centralized hub to track and manage all bonuses earned. Bonuses can be transferred to trading accounts from the ‘Hub’ section. Traders can unlock up to $5,800 in total rewards, receive trading bonuses, and earn cashback on fees.

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.

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

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

• Forex: Minimum lot size of 100 units.
• Indices: Minimum lot size of 0.01 lots.
• Stocks: Minimum size of 1 share.
• Commodities: Vary depending on the instrument and are based on contract specifications.
• Cryptocurrencies: 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., BTC/USD from 0.001 BTC, Ethereum from 0.01, XRP from 10 units, etc).

PrimeXBT offers leverage of up to:

• Forex: 2000:1
• Commodities & Indices: 1000:1
• Cryptocurrency Futures & CFDs: 500:1
• Shares: 100:1

PrimeXBT stands out in the cryptocurrency trading arena by offering exceptionally high leverage for crypto assets, with a maximum of 500:1. This level of leverage is significantly higher than industry standards, as most regulated platforms typically offer much lower ratios.

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.

User Experience: During the review, 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.

• Hedging, scalping, and algorithmic trading are allowed.

PrimeXBT offers three integrated platforms: PXTrader (proprietary WebTrader), MetaTrader 5 and Crypto Futures (dedicated platform).

PXTrader (accessible on both web and mobile devices) features TradingView charting, which offers advanced trading tools and order execution.

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.

MT5 can be downloaded directly from their website, used on mobile devices, or accessed through MT5 WebTrader. MT5 features advanced charting tools and automated trading via Expert Advisors (EAs).

The PrimeXBT Crypto Futures platform is primarily web-based, accessible through a personalized browser-based platform that requires no download or installation. It is designed for seamless and fast trading of leveraged crypto futures contracts. It is also accessible through their mobile app.

• 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.
  
  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 doesn’t offer a Percentage Allocation Management Module (PAMM) or Multi-Account Manager (MAM) accounts.

PrimeXBT’s educational resources come in various formats and offer a solid mix of foundational content and more in-depth videos, articles, and webinars. 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. The webinars cover various topics, including trading concepts, walkthroughs and real trading scenarios.

• PrimeXBT provides daily market analysis, educational articles, an economic calendar, market news, and a trading glossary.
• PrimeXBT doesn’t offer Virtual Private Server (VPS) hosting, which traders often utilize to achieve ultra-fast order execution speeds.

Note: PrimeXBT does not accept clients from the United States of America, Japan, Canada, Cuba, Israel, Iran, New Zealand, Syria, North Korea, Ukraine (including Crimea), Russia, Afghanistan, Myanmar, Saint Lucia, Puerto Rico, Guam, US Virgin Islands, Northern Mariana Islands.

• PrimeXBT says it offers negative balance protection and claims to keep client funds in segregated accounts.
• As a verified member of the Financial Commission, the broker provides a compensation scheme of up to $20,000 per client for unresolved disputes handled by the independent regulatory body. While this fund is not a substitute for traditional banking deposit insurance, it offers an extra layer of protection and transparency.
• PrimeXBT implements strong security measures. Security features include cold storage with multi-signature wallets, two-factor authentication (2FA), SSL encryption to protect user data, and anti-money laundering (AML) through advanced transaction monitoring systems. These measures help safeguard funds and prevent illicit activity.

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

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.

During the review, 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 service could be improved if they ensured all team members were updated with the most recent changes.

PrimeXBT provides a straightforward and user-friendly experience overall. The website is clear and well-organized, allowing traders to locate important information quickly. 

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.

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.

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.

Opening an account is fast and requires minimal paperwork, enabling users to start trading almost immediately.