1 Minute to Know PrimeXBT Before Trading

What WikiFX is

PrimeXBT is a cryptocurrency and forex broker providing leveraged trading to clients across the world. This review covers the services provided by PrimeXBT, including its trading platforms, crypto predictions, mobile app and supported countries. We will also detail the deposit and withdrawal options, promotional bonuses, fees and KYC verification systems.

PRIMEXBT was founded in 2018 under the name PRIMEXBT Trading Services in the Seychelles. In 2019 the broker opened offices in St. Vincent and the Grenadines and moved its infrastructure and headquarters to Switzerland. PrimeXBT specializes in services and trading through Forex, commodities, stocks and cryptocurrencies and Maximum leverage rates also vary with the asset type being traded. 1:1000 is accessible for forex pairs, providing margins as low as 0.1%, though precious metals can only reach 1:500 (0.5% margin) and cryptos, energies and indices only go as high as 1:100, giving a 1% margin.

Unfortunately the broker does not hold a license with a reputable regulator. Customer reviews are mostly positive though. PRIMEXBT offers no demo account and only one live bitcoin based trading account that provides all its services. It only differs according to deposit size and trading volume. The minimum deposit required to open an account is 0.001 BTC.

The forex trading platform provided by PRIMEXBT to its clients is in essence the software to carry out their trades. Some brokers provide only one, others quite a few platforms. PrimeXBT, on the other hand, also offers 18 forex pairs, six major stock indexes, energies, such as crude oil and precious metals, such as gold. The broker does not offer trading in futures, options, and spread betting.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade. PRIMEXBT provides its own personalized, browser-based trading platform that requires no download or installation as well as a Turbo Platform. The proprietary platform is equipped with more than 50 technical indicators and a full suite of charting and analysis tools.

For New traders to PRIMEXBT, the Turbo platform is the most user friendly and comes with trading histories and a social trading section where you can compete with other investors. The proprietary platform has better functionality for traders of skilled levels although you cannot trade as much assets.

PrimeXBT has developed a mobile version of their custom platform, available for download on iOS and APK smartphones and tablets. The mobile app has almost all the functionality of the desktop web-based platform, with several order options and an impressive array of customisation options to suit any trading preferences. Overall, the iPhone and Android mobile app is a suitable alternative or supplement to desktop trading.

To open a Forex trading account with PRIMEXBT for the first time, you will be required to go through a basic “know your customer” process, firstly on their homepage, click on open a free account, this will then redirect you to a page where you will be required to register an account, simply register your email address and password which will allow PRIMEXBT to ascertain that your submitted details and ensure the safety of your funds and account details.

PrimeXBT does not complicate things by offering several account types. Instead, there is only one account providing all the brokers services with no limits based on deposit size and trading volume. The minimum deposit required to open an account is 0.001 BTC. Also does not require your personal information to open an account. Before starting to trade, potential clients of PRIMEXBT should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.

PRIMEXBT offers a platform guide in the “Information” section of its account which includes information on how to bid, trade futures products, place orders, stop-losses and protection orders, account funding, and safety measures

They also offer well-presented video tutorials that can be accessed from inside the account.

PRIMEXBT runs a blog where you can find additional information on how to trade futures products, trading disciplines and more. PRIMEXBT offers a fair option for trading leveraged cryptocurrency instruments. Very high leverage levels allow users to expand their returns on borrowed money but could be very risky too. Traders need to decide for themselves whether they are comfortable using a brand-new service such as this broker.

PrimeXBT Trading View

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. The below is a picture of the trading view at PrimeXBT:

PrimeXBT has integrated a 24/7 live chat service into their trading platform to the lower right of the screen, with several experienced agents always active. However, there is no telephone or offline support which may be frustrating if you have a complex issue.

Please be aware that PrimeXBT maybe gets involved in a scam since it is not regulated. Due to the controversial feedback from traders, we advise you to find a better alternative and do more research before you make a decision. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link (https://www.wikifx.com/en/download.html). Running well in both the Android system and the IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers you are curious about.

Click on PrimeXBT' WikiFX page for details