Prime XBT review – leverage trading, fees, is prime xBT safe & legit? 2021

Prime XBT is a well-established cryptocurrency margin trading platform that is providing an advanced and professional platform for users to trade a number of assets including Crypto, Forex, Commodities with leverage.

PrimeXBT review

PrimeXBT leverage cryptocurrency exchange is registered in Seychelles and was launched in 2018. The exchange has also opened an office in St Vincent & The Grenadines and has moved its trading infrastructure to Switzerland. PrimeXBT currently boasts over $545,000,000 in daily volume and employs more than 70 workers.

PrimeXBT has grown exponentially since then and currently serves clients in more than 150 countries.

PrimeXBT provides access to top-tier liquidity and a wide range of trading tools while maintaining security, liquidity, enabling a safe and efficient trading environment for crypto traders.

In the PrimeXBT review, we will assess PrimeXBT Features, User-Interface, Fees, trading types, trading tools, Payment methods, cryptocurrency supported, countries supported, Security, Customer support.

We will help you decide whether PrimeXBT is safe & legit, and it is worth your investment in time, effort, and capital before registering for a free account.

Prime XBT trading platform overview

PrimeXBT Trading platform review


Prime XBT is a multi-asset margin trading platform available to novices and professionals.
However, Accounts are based in Bitcoin, but the platform offers traders exposure to over 50+ assets via
CFDs ranging across forex currencies, stock indices, commodities, and crypto-assets.


The variety in trading instruments offers additional opportunities beyond what many other
platforms offer, enabling unrivaled portfolio diversification and the ability to manage multiple
trades across many assets at once, at an all-in-one solution.


Unlike other Cryptocurrency Exchanges or margin trading platforms such as ByBit or Binance, you are not only restricted to trading cryptocurrency assets. But you can also trade Forex, Commodities, and stock indices.

ByBIT derivatives exchange review – Is ByBIT legit and safe

Forex currencies include all the major FX pairs; stock indices range across the US, Europe, Asia,
and Australia; commodities include oil trading, gas, gold, and silver; and cryptocurrencies like
Bitcoin, Ethereum, Ripple, Litecoin, and EOS are available as well.

Prime XBT Leverage trading

Leveraged trading is one of the major selling points of Prime XBT Exchange, It offers up to 100x leverage on trading cryptocurrency, indices, and commodities available on the platform and enormous 1:1000 leverage on Forex majors. It means a user can trade 100x times of their deposit value.

Simply this means that for each $1, you get $100 worth of buying or selling power. This essentially gives you access to a greater market position, so you can make even more profits, or indeed losses.

Prime XBT Exchange provides one of the highest leverage for their instruments, allowing you to maximize your trading profits.

When you trade on leverage can potentially enhance your returns by a certain factor. However, Leverage works both ways as losses can also be magnified.

How leverage trading works on the PrimeXBT.com platform.

primexbt leverage trading explained

As shown in the above image, you start a traditional BTC/USD trade worth $100000 (1BTC = $10000)

So you have to buy 10 Bitcoins at a price of $10,000.

To open such trade with a traditional exchange, you would be required to pay 10 x $10,000 for a position of $100,000 (ignoring any commission or other charges).

If the Bitcoin price increase by 5%, your 10 Bitcoins will be worth $10,500 each.

Then if you decide to sell the Bitcoins then you will make a $5,000 profit from your original $100,000 investment.

Now take a margin trade example.

Let’s say you start a BTC/USD margin trade with leverage up to 1:100. In this case, you don’t need a $100000 investment to make a $5000 profit.

You only need to invest $1000 and rest capital will be provided by PrimeXBT trading platform. If you choose 1:100 leverage.

If the Bitcoin price increases by 5% then you will still make a $5000 profit but by only making a $1000 initial investment.

Benefits of using leverage

  • Magnified profits. You only have to put down a fraction of the value of your trade to receive the same profit as in a conventional trade with any other exchange.
  • Gearing opportunities. Using leverage can free up capital that can be committed to other investments. The ability to increase the amount available for investment is known as gearing.
  • Gaining from the market fall. Using leveraged products to speculate on market movements enables you to benefit from markets that are falling, as well as those that are rising.
PrimeXBT Leverage calculator

PrimeXBT trading platform also provides a leverage calculator that figures out your buying power on your initial capital.

Just be cautious about using leverage. Because Leverage does increase the funds value and your potential profits, But it will also increase the potential losses.

So if you are a beginner then avoid using the maximum leverage for trading cryptocurrency on PrimeXBT Exchange. However, professional traders with trading experience can find leverage to be an incredibly useful tool.

Beginners Guide To Cryptocurrency Trading To Earn Like A Pro 2020

Prime XBT Trading platform interface

PrimeXBT trading interface is quite intuitive, user-friendly, and highly customizable. The Trade section of the platform is used to monitor the market, place trades, control your orders, positions, and reflect detailed statistics of your Trading account.

The platform offers enough depth and advanced tools that experienced traders will find
themselves right at home, while newcomers will be immediately comfortable with the simple to
understand tools. 

The trading interface consists of two main sections as you can see in the below image

The Financial Summary bar and the Workspace

primexbt trading platform interface

In simple words, the PrimeXBT trading platform interface is quite impressive. They have developed their own trading technology with extensive functionality which can satisfy even highly professional traders

As you can see in the above image with the Add widget option you can insert a new panel onto any one of your desired work-spaces.

You can build a new trading interface with a Dashboard widget(shows Spreads for selected assets and specific order volumes), Chart widget, Watch list widget (helps monitor market activity for selected trading pairs), Orders widget(allows you to manage all active Orders), Trades widget (open or closed), Messages widget.

customize primexbt tarding platform

Prime XBT Exchange has a highly customizable and comprehensive charting functionality. Which can help you immensely in the trade technical analysis. You have multiple drawing tools that you will need to map your important levels. These include fan lines, Fibonaccis, retracements, and other trend lines.

You also have a plethora of technical studies and indicators that you can use. These include all of the momentum indicators as well as relative strength and volume-based studies. You can also customize the indicators in terms of the time-frame and other important inputs.

PrimeXBT.com review – order types

Prime XBT has most of the standard order types as well as some protection orders. These include:

Market Order: 

This is one of the more traditional order types

In this order type, you simply select the amount of Crypto asset that you wish to buy or sell and then place the Long or Short position, accordingly. The order will be filled at the best available market price of the Bitcoin on the order book.

Market order is the default choice in order form after you click Buy or Sell.

Limit Order: 

This is an order that is placed to buy/sell a crypto asset at a pre-specified level away from the market.

In Limit order type you can set the price at which you wanted your order to be executed. Traders use this order type to improve their entry/exit price.

For example, If a bitcoin is currently trading at $13121. You wanted to open a long position but at a lower price i.e. $13100. You can set the price to be $13100. Your order will be filled as soon as the Bitcoin price falls to $13100.

Limit orders can only be day orders that will be completed the moment that the trading day is closed.

To complete the order you have to choose Order Duration. You have two options – GTC (good till canceled) and Day order (the system will show you how many hours remain until the order is canceled if not executed before).

Stop Market Orders: 

These are orders that will become market orders the moment a certain price is reached which is also termed as the stop price. Traders use this type of order for two main strategies: As a risk-management tool to limit losses on existing positions, and as an automatic tool to enter the market at the desired entry point without manually waiting for the market to place the order.

One-Cancels-Other (OCO) order

An OCO order also termed as One-Cancels-Other is a conditional order. An OCO order allows you to combine 2 different orders under special conditions. This means once one of the orders is triggered and executed, the second-order will be automatically canceled.

Protection Orders:

Protection orders are available as additional protection on any order type including the orders you currently have. These can be placed on new Market, Limit or Stop orders by clicking on the “Place Stop Losses / Take Profit” box on the order form. Here you can set up the protection orders going with your main order above it.

You can watch the following video to learn – ‘how to set Stop Loss and Take profit at PrimeXBT Exchange

Trading modes – Prime XBT review

There are three trading mode available at Prime XBT Trading platform.

primexbt trading modes types

Regular trading mode

This is the default trading mode at the Prime XBT trading platform. In this trading mode, a new form is brought up whenever you attempt to place a trade. This will allow you to select additional parameters for your trade before sending your orders. Additionally, you will receive a confirmation prompt whenever Sending/Cancelling/Closing an order or position.

One-click trading

One-click trading mode allows you to control orders and positions only with one-click. The only difference from regular trading mode is that orders and positions will be Sent/Canceled/Closed on a single click without confirmation prompts. The default order type is set to ‘Market’. No protection orders are attached to new orders (but can be added manually after an order has been placed)

Double-click trading type

The difference with Double click trading mode allows you to control orders and positions via double-clicks.

How to register at Prime XBT trading platform

It takes less than a minute to register at Prime XBT trading platform

how to register at primexbt trading platform

Click on the register on the homepage.

Follow the steps as shown in above image. Enter your email address, setup the password, accept their terms and conditions and finally click on the register button.

Note – You can set up 2-factor authentication for more security

You will receive a verification mail to your email address. Click on the verification mail. Once it got verified you are registered at Prime XBT trading platform.

Something that you may have noticed is that Prime XBT does not require any forms of identification when you sign up. This is because they are one of the few exchanges that do not complete KYC or AML checks on their traders.

Prime XBT is a fully anonymous exchange which can be helpful for the traders who don’t want to send their personal identity documents.

How to Make a Deposit at prime XBT trading platform

It is a one minute process to deposit funds at PrimeXBT Trading platform.

After logging in navigate to the Deposit page of your Account.

There are two deposit options first is Direct BTC deposits and second is Alternative Deposits

how to make a deposit at primexbt trading platform

If you want to fund your account via Direct BTC deposits.

Then copy the following Bitcoin wallet address and send funds to that address. You can also use the QR code to send the funds.

Get 50% bonus on your first deposit (use code -coinexpansion50)

how to deposit bitcoins at primexbt trading platform

Buy Bitcoin with Fiat currency at Prime XBT Exchange

The alternative deposit method allows you to buy Bitcoin using a credit & debit card (fiat currencies) via CEX.io cryptocurrency broker which is transferred directly to your PrimeXBT.com wallet.

alternate deposit method to buy bitcoin via fiat currency at PrimeXBT Exchange

For buying Bitcoins click Buy Bitcoin as shown in the above image. Which will bring up the CEX.io widget as shown in the below image.

1. First, select the Fiat currency (USD, GBP, EUR) and the Amount of cryptocurrency that you wish to pay with or purchase on CEX.io cryptocurrency broker. Then Click ‘BUY’

buy bitcoin via fiat currency

2. Enter your email address to which you will receive confirmation prompts and add your Country of residence. Then click ‘Next’.

add the email and county info

3. Upload any of your ID documents like Passport, Government issued ID card, or Driving license. Enter your payment information. Then click ‘NEXT’.

Upload a picture of your ID document and payment details

4. After your payment has been confirmed you will receive an email from CEX.io with purchase confirmation and details of your transactions, such as TX id, and the number of Bitcoins purchased.

Note – You can deposit as low as 0.001 BTC. The platform also offers a third-party module called Changelly that allows additional deposit options such as fiat or altcoins.

Prime XBT Review – Prime XBT Turbo Trading platform

Prime XBT ‘Turbo’ trading allows you to make short term price Predictions on whether the price of an asset will be HIGHER or LOWER after a short duration (30 seconds, 1 minute, or 5 minutes).

Turbo trading is one of the fastest and easiest ways to earn via trading on the PrimeXBT trading platform, especially for beginners.

They also provide a demo platform for turbo trading.

If you are hesitant to trade with real money and wanted to get used to trading at PrimeXBT Exchange. Then you get 1 Bitcoin in your demo account which you can use for practicing turbo trading.

You just have to predict the price of the trading asset over a duration of time. If your price prediction gets correct at the end of the expiry then you will get that fixed payout.

The potential profit can be somewhere between 65% to 90% depending on the duration of turbo trade.

primexbt turbo trading platform review

As you can see in above image, There 5 tabs on the left of the screen

Open Positions – Reflects your ongoing turbo trades or active positions

Trade History- Reflects your latest completed positions

All Trades – Reflects latest completed predictions made by other traders

Leaderboard – A leaderboard of all Turbo traders reflecting the total winning amount

Settings – Allows you to change your Nickname, enable One-Click turbo trading, and switch between account’s reflected currency (USD or BTC)

How to start a turbo trade?

  • Get started by choosing the trading asset.
  • Choose the Duration and Amount of funds that will be used in your prediction.
  • UP – place a prediction (position) that the price of the selected asset will be HIGHER
  • DOWN – place a prediction (position) that the price of the selected asset will be LOWER

You can also analyze the trading chart and trading asset price pattern to predict the coin price. However, short expiry period duration is not really the most optimal option to predict the asset price in comparison to longer expiry times of longer length.

For Crypto asset: 1 m, 5 m, and 10 m

Forex: 1 m, 5 m, 10 m

For EUR/USD a 30-second contract duration is also available.

Prime XBT review – Exchange Fees

Prime XBT Exchange fee structure is quite transparent. Prime XBT charges two types of fees. Trading fee and Overnight fee.

Trading fees are highly competitive, as low as 0.001% to 0.05% on cryptocurrencies. An overnight financing fee is only charged for longer-term positions.

The fee model of the Prime XBT trading platform lies more in line with the CFD trading platform than a Futures Exchange. They do not charge fees on the contract settlements but charge an overnight fee for holding the position.

Note – the overnight fee is not applicable if you enter and exit the trade within a day.

SymbolTrading feeFinancing/day LongFinancing/day Short
BTC/USD0.05%0.1528% Daily Funding Rate0.1528% Daily Funding Rate
ETH/USD0.05%0.1667% Daily Funding Rate0.1667% Daily Funding Rate
ETH/BTC0.05%0.1667% Daily Funding Rate0.1667% Daily Funding Rate
LTC/USD0.05%0.1806% Daily Funding Rate0.1806% Daily Funding Rate
LTC/BTC0.05%0.1806% Daily Funding Rate0.1806% Daily Funding Rate
XRP/USD0.05%0.1944% Daily Funding Rate0.1944% Daily Funding Rate
XRP/BTC0.05%0.1944% Daily Funding Rate0.1944% Daily Funding Rate
EOS/USD0.05%0.1861% Daily Funding Rate0.1861% Daily Funding Rate
EOS/BTC0.05%0.1861% Daily Funding Rate0.1861% Daily Funding Rate

There is also a progressive fee discount system offered by the client-oriented platform, which
rewards the most active traders on the platform with exclusive discounts depending on what level of trading turnover is reached.


Discounts range from 25% to 50% off all trading fees depending on your 30-day trading volume.

  • 300–600 BTC:  25% additional fee discount
  • 600 + BTC:  50% additional fee discounts

There is no deposit fee and withdrawal fee (network fee may be charged)

There is a flat trading fee of 0.01% for Indices and commodities and the overnight financing rate ranges from 0.01805% daily funding rate to 0.0416% daily funding rate.

There is a 0.001% flat trading fee on forex instruments plus the overnight financing rate ranges from 0.0022% Daily Funding Rate to 0.00555% Daily Funding Rate.

Prime XBT Trading limits

Trading limit is a restriction on the size of a position you can maintain with PrimeXBT.

The trading platform will not allow users to place orders which will exceed the limit if executed.

The restriction is set by the PrimeXBT risk management department and depends on such factors as instrument liquidity, volatility, and other market conditions.

SymbolMin. order sizeMin. order size changeMax. single trade sizeMax. exposure
BTC/USD0.01 BTC0.01 BTC300 BTC300 BTC
ETH/USD0.01 ETH0.01 ETH1000 ETH1000 ETH
ETH/BTC0.01 ETH0.01 ETH1000 ETH1000 ETH
LTC/USD0.01 LTC0.01 LTC1000 LTC1000 LTC
LTC/BTC0.01 LTC0.01 LTC1000 LTC1000 LTC
XRP/USD1 XRP0.01 XRP150000 XRP150000 XRP
XRP/BTC1 XRP0.01 XRP150000 XRP150000 XRP
EOS/USD1 EOS0.01 EOS15000 EOS15000 EOS
EOS/BTC1 EOS0.01 EOS15000 EOS15000 EOS

PrimeXBT Covesting – a passive way to make a second income

PrimeXBT Exchange has recently introduced a covesting module on their platform.

The covesting module allows traders to set up and manage a trading Strategy or Follow another trader’s Strategy.

A Strategy is a pool of a trader’s personal funds that are visible to the public and can be followed by other traders especially (novice traders).

Covesting provides an excellent opportunity to earn crypto for both active traders (pro traders) by creating and managing a strategy as well as for novice traders who can earn crypto by following successful Strategies of other traders.

Covesting for Experienced traders

If you are an experienced and professional trader. Then you can create and manage your own trading strategy.

Prime XBT Covesting

Other traders can follow your Strategy and automatically replicate your trades on the market. You will then receive a percentage of all profits made by your followers, thus maximizing your profit potential.

By covesting, you can monetize your trading skills and earn a second income by receiving success fees from your followers. The more followers you will acquire – the more money you can make from trading.

You need to have 0.01 BTC minimum balance to create a strategy.

A Strategy manager can create and manage only 1 Strategy at a time.

You can also manage a regular trading account as well as a covesting account at the same time. However, leverage and margin requirements differ between a Strategy trading account and a regular trading account.

leverage available for a covesting account

Note – As you can see in the above image leverage and margin requirements differ between a Strategy trading account and a regular trading account.

For example, leverage in case of regular trading account for BTC/USD pair is up to 1:100 whereas in case of covesting account Leverage for the same trading pair is up to 1:50.

Covesting for Followers (Beginners)

If you are new to crypto trading then you can also make profit via covesting. You can follow trading Strategies of successful traders, It automatically replicates their trading decisions, strategy, and skills on the market.

primexbt covesting for followers

As you can see in above image when you will visit the covesting module of the platform. There you can see ratings of the most successful and profitable traders.

You can see their public trading records. Total profit, Today’s profit, amount of trades, amount of followers, performance, followers equity, etc.

You can analyze traders records and can follow the trader’s strategy.

The minimum amount of personal funds required to Follow a Strategy is 0.001 BTC and you can follow unlimited amount of traders strategy.

Prime XBT review – Exchange Security

For any trader, the security of the trading platform is the utmost priority

So they can trade as well as leave the coins on the exchange with peace of mind. Prime XBT excel in this regard and the security of the platform is their main area of concern.

PrimeXBT has full SSL encryption. This means that all communication that you send the exchange will be encrypted and make it hard for any malicious or phishing attack to crack it.

When it comes to storing your passwords, Prime XBT claims that they use the “bcrypt” algorithm.

Most of the coins that are held at PrimeXBT Exchange are kept in cold storage. This means that they are kept in a secure offline environment away from online hackers.

Only a small portion of digital assets are held in their online wallet (‘Hot wallet’)

PrimeXBT uses Multi-signature access to provide both securities against attacks and tolerance for losing access to a key or facility, eliminating single points of failure.

This means that in order for any transactions to take place in the Prime XBT wallets, they will need authorization manually from the number of sources (people) who hold those keys. This reduces the risk of a single point of failure.

Finally, they also have advanced hardware modules where they run their trading technology. These are hosted on AWS web servers which are one of the safest in the industry.

There has been no recorded attempt of exchange hack till now. Neither there is any conduct of foul play or fraud.

User funds are protected behind two-factor authentication and compulsory address whitelisting

Bank-grade infrastructure keeps the platform steady and stable, even during peak volatility.

While other platforms are flash crashing, PrimeXBT.com typically remains stable and boasts as high as 99.9% uptime.

A guide to prevent online crypto wallet hacking

Prime XBT Customer Service And mobile app

Prime XBT provides 24/7 customer support via live chat or email.

Customer support staff is super friendly and highly responsive.

The website’s help center is also jam-packed with tutorials and further tips on how to get the most out of your experience.

primexbt.com mobile app platform

You can also access PrimeXBT.com from their native mobile app on both iOS and android.

Prime XBT mobile app allows you to monitor your trades on the go.

PrimeXBT Mobile app offers almost the same trading features and functionality as a desktop-based platform.

But it is always advisable to use desktop browser based platform because you can’t replicate the same trading experience on the mobile app.

supported cryptocurrencies, payment methods

PrimeXBT trading platform only supports 5 major cryptocurrencies

Bitcoin, Ethereum, Ripple, EOS, Litecoin

However, unlike other advanced margin trading platforms, PrimeXBT supports fiat currencies (USD, EUR, JPY) deposits directly to your PrimeXBT wallet. Which can be used for trading crypto, commodities, and forex trading.

You can also buy Bitcoin directly from the exchange with fiat currency.

PrimeXBT exchange currently provide their services in more than 150 countries including India (USA, Canada is restricted)

Conclusion Prime XBT review – is it safe and legit?

There is a ton of value packed into the Prime XBT trading platform. Whether it is the variety of attractive trading instruments or the powerful trading tools, and ease of use, there’s something For everyone to like about Prime XBT.

It will be safe to conclude that Prime XBT Exchange is safe and legit to use for beginners to professional traders.

Registration is fast, and there are low minimum requirements to get started.

No KYC requirements along with no deposit or withdrawal limit suit users looking to trade anonymously without any limit.

PrimeXBT also provides traders with an option of commodity and forex trading.

Unlike ByBIT, Binance, Coinbase pro or OKEx (other established crypto margin trading platforms) PrimeXBT is trying to take on some of the more established Futures and CFD brokers that operate in the space (for example IQ Option, E-toro, etc)

Checkout in-depth detailed Coinmama broker review

The advanced trading platform has earned itself a positive reputation due to its continued client- Focused approach. While any trading business’s primary goal is to make money off the trading fees generated by each position, the platform is always going the extra mile to keep fees low, provide discounts, and offer all the tools traders need to be successful.

OKEx derivatives cryptocurrency Exchange review

Constant reinvestment in R&D leads to new innovations and new trading instruments being added on a semi-regular basis.

The platform has already won a number of awards, including three Forex Awards and the ADVFN

PrimeXBT exchange has able to build a loyal community of crypto traders in such a short time. And If you want to enter the world of margin trading then Prime XBT won’t prove a bad decision.

Note – Always use hardware wallet store cryptocurrency safely.

Sign up to receive 50% deposit bonus (use code- coinexpansion50)

Prime XBT Bonus – Get 50% deposit bonus only for coinexpansion users.

primexbt trading deposit bonus

Get a 50% bonus on your first deposit.

Steps to claim the Bonus

For example,

Sign up using the Bonus link, If you deposit $1000 you will receive $500 Additional deposit Bonus.

It means you can trade for $1500. It literally means you have made $500 worth of profit just by depositing $1000.

Only applicable for users sign up using the below link

(use promo code- coinexpansion50 to claim the bonus)

Frequently asked questions

Prime XBT FAQs

Does primeXBT required id verification?

No, the PrimeXBT trading platform is an anonymous exchange. You don't need to provide any id documents to get started.

Does PrimeXBT is available in India?

Yes, PrimeXBT is available in India. PrimeXBT is available in more than 150 countries except for the United States, Japan, Saint Vincent And Grenadines, Canada, Algeria, Ecuador, Iran, Syria, Korea, Sudan, United States Outlying Islands, American Samoa, Russian Federation.

What does 50% deposit Bonus means? How to claim it?

A 50% deposit bonus is only available for CoinExpansion users. Sign up using the above link. Make your first deposit and you will receive an additional 50% of your deposit amount. For example, if you deposit $100 then you will receive $50 more in your account. Hence, you can trade worth $150 on only making a $100 deposit.
To claim the bonus use promo code coinexpansion50 during the sign-up

Does a regular trading account and Covesting account can be managed at a time

Yes, a regular trading account and strategy account can be managed at a time. However, leverage and margin available for strategy accounts is half of a regular trading account.

CFD Trading For Beginners – What Is Crypto CFD Trading & best CFD brokers?

Logo_300x300
PrimeXBT Exchange
Security
9.5
Reputation
9
Ease of use
9
Fees
9
Customer support
9.5
Pros
$50 for new users (use code- coinexpansion50)
Top notch security
Competitive fee
Advanced leverage trading platform
Can buy bitcoin with credit card
Cons
Relatively new
9.2
Overall Ratings