PrimeXBT Review 2024 : Is It The Best Bitcoin Trading Platform?

PrimeXBT Review


Prime XBT is a cryptocurrency trading platform launched in 2019 that enables investors to leverage existing Bitcoin and other major cryptocurrencies positions. They have quickly created a strong presence in the margin trading business, competing with industry heavyweights such as BitMex.

Out of 10


  • Mobile app for iOS and Android CFD trading.
  • Easy to use for every kind of user.
  • It is affordable.
  • Live Chat assistance is available.


  • Margin trading only – leverage amounts are fixed.
  • Only CFDs are available.


Price: $

Disclosure: Some of the links on this site are affiliate links, meaning that if you click on one of the links and purchase an item, I may receive a commission. All opinions however are my own.

This whole article is dedicated to PrimeXBT Review. PrimeXBT is a newly established yet fast-growing Bitcoin trading platform. The website offers a myriad of investment choices and asset classes for consumers to choose from.

We’ll investigate if PrimeXBT is a viable trading platform and which features set it apart from the competition when it comes to bitcoin trading in this PrimeXBT review.

PrimeXBT Review: What Is Prime XBT?

Prime XBT is a cryptocurrency trading platform launched in 2019 that enables investors to leverage existing Bitcoin and other major cryptocurrencies positions.

They have quickly created a strong presence in the margin trading business, competing with industry heavyweights such as BitMex.

PrimeXBT Review

The exchange aims to address several of the platform’s common flaws, including lengthy KYC approval processes, unexpected downtime, low liquidity, difficulty trading on failing markets, limited order types, a poor user experience, and high trading expenses.

Rather than that, PrimeXBT offers unmatched leverage, an intuitive user interface, and tremendous liquidity and trading volumes.

How to sign up with Prime XBT & begin Trading?

It only takes a few minutes to create an account and begin trading on Prime XBT. Here is what you must do:

Sign up with Prime XBT

  • Create an account using your email address, confirm it, and log in to the site.
  • Make a deposit into your account. Make a direct deposit of bitcoins to the platform. If you do not already own any, you can purchase them with your credit or debit card through Changelly or other instant-exchange platforms such as Switchere, ChangeNOW, or Coinmama.
  • Commence trading. That is all! With up to 1000x leverage, you can trade cryptocurrencies, forex, commodities, and other indices.

Prime XBT Key Features:

Let’s have a look at the various features of this platform.

1. Powerful and well-designed Platform:

Margin trading capabilities for both traditional assets and leading cryptocurrencies. Leverage up to 100x on bitcoin, ether, litecoin, EOS, and XRP, as well as up to 1000x on leading stocks, commodities, and forex.

The platform currently supports over 50 assets from both the crypto and fiat worlds. The platform is both powerful and well-designed, with customizable widgets.

Powerful and well-designed Platform

It integrates over 12 liquidity providers and is capable of processing up to 12,000 orders per second, ensuring that the average order is processed in less than 7.12 milliseconds.

2. Module for Covesting:

Prime XBT connects directly with another cryptocurrency social trading platform, Covesting, which enables you to track and mimic the actions of professional traders.

PrimeXBT Covesting Module

Platform with low fees. Prime XBT is exceptionally clear about its pricing and guarantees some of the lowest rates available.

3. Privacy:

Prime XBT is a pro-privacy platform, which implies that no KYC (know your customer) checks are required before trading begins. Nonetheless, the platform has established relationships with a number of anti-money laundering (AML) service providers.

In sum, Prime XBT is a forward-thinking operator in the margin trading space.

Given its user-centric emphasis, simplicity, and an ever-increasing portfolio of innovative services, it is certain to continue building its dedicated user base and establish itself as a premier destination for both novice and seasoned margin traders.

4. Prime XBT Turbo:

Turbo is the platform’s most recent addition. It enables users to wager on the price movement of numerous assets over short time periods. As so, you can earn up to 90% of your wager by correctly guessing the change in price within 30 seconds, one minute, or five minutes.

However, if you are incorrect, you will forfeit your investment. The Turbo module’s assets each have their own payout percentage and contract length.

Additionally, Turbo provides a free 1 Bitcoin sample account, allowing you to test the platform without risking any money. If you decide to try it with real money, you should be aware that this product carries a high risk of rapid capital loss.

5. Trading Products:

PrimeXBT’s platform enables traders to trade cryptocurrencies, indices, currencies, and commodities.

PrimeXBT Trading Products

  • Cryptocurrencies: It is compatible with five coins. Bitcoin, Ethereum, Litecoin, Ripple, and EOS are the five cryptocurrencies.
  • Indices: It allows you to trade the world’s most popular indices. Among these are the FTSE 100, the SP 500, the DAX 30, and the ASX 200.
  • Forex: You have the option of trading major and minor currency pairings. You will be charged commissions, alternatively referred to as trading costs..
  • Commodities: You can speculate on commodity prices such as oil, gold, and natural gas.

6. Orders:

PrimeXBT accepts a variety of different order types. This enables you to specify specified entry and exit levels. It contains the majority of common order types, as well as several protection orders. They include the following:

1. Market Order: It is one of the simplest conventional commands. They are immediately put and executed at the existing market price. Generally, you’ll utilize this order if you’re looking to buy or sell anything instantly.

2. Limit Order: This sort of order is used to purchase or sell an item at a price that is not established by the market. Your order will be immediately executed the moment the market reaches this level.

In terms of the duration of these requests, they are either “Good until cleared,” which suggests that they will remain valid indefinitely. On the other side, these could only be same-day orders.

3. Stop Market Orders: These are comparable to market orders that are triggered the instant a predefined level is reached. You can either use them to restrict your position’s losses as a “stop-loss” order or to profit from a favorable position.

4. Protection Orders: These orders can be used to offer protection to any position or order you currently own. You can add them to new Market, Limit, or Stop orders by clicking on the box labeled “Place Stop Losses / Take Profit” on the order form.

Additionally, you can create a protective order to accompany your primary order. They act as crypto exchanges’ “safety brakes.”

5. One-Cancels-the-Other (OCO): These are orders in which the execution of one order triggers the execution of another. Here, you can prioritize your orders.

If your order number “1” is executed, the remaining orders will be automatically canceled. It enables you to create intricate relationships and stacked investments.

PrimeXBT Review: Deposits

To make a deposit, navigate to your Account’s Deposit page. There are two alternatives available to you :

1. Direct Bitcoin deposits:

You can transfer bitcoin straight between your Bitcoin and PrimeXBT wallets. This can be accomplished by scanning the QRCode or by copying and pasting the Bitcoin deposit address. The deposit amount is not limited.

2. Debit/credit card deposits:

You can purchase bitcoins with a credit card using PrimeXBT’s partner CEX. You must click “Buy Bitcoin,” which will bring up a CEX widget that will assist you in purchasing BTC.

It may take a few moments for the funds to appear in your account because the network requires a total of six confirmations.

PrimeXBT Review: Withdrawals

All withdrawals from PrimeXBT are made in Bitcoin. Keeping security in mind, just a portion of bitcoin is stored in the hot wallet, while the remainder is stored in the cold wallet. Between 12:00 and 14:00 UTC, it processes all pending withdrawals.

If you submit your request before 12:00 UTC on the same day, it will be processed immediately; otherwise, it will be processed the following day. PrimeXBT has the right to manually analyze withdrawal requests prior to approval if it suspects suspicious behavior or if the amount requested exceeds a predefined threshold.

This may cause a withdrawal to be delayed until it is approved. To initiate a withdrawal, you must navigate to your account’s Withdraw page. The steps are as follows-

  • Choose a withdrawal address
  • Enter the desired amount of Bitcoin and click Submit. The withdrawal will be confirmed through email.
  • PrimeXBT Fees and Charges
  • Fees are classified into two categories: trading fees and overnight fees. The former is charged for joining the position, while the latter is charged for overnight financing.
  • The trading fee is between 0.01 and 0.05 percent, which is significantly less than that charged by other exchanges. Additionally, you can get discounts based on your 30-day rolling trading volume.

300–600 BTC: 25% discount

600 + BTC: 50% discount

  • It will not charge you for making a deposit. When withdrawing funds, you will be required to pay an arbitrary miner charge (which is industry standard).
  • Additionally, they have trading restrictions. The size of a position that you can hold on the PrimeXBT trading platform is limited. Your orders will be canceled if you exceed the limit. According to market parameters including volatility, instrument liquidity, and other market variables, the constraint can vary.

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PrimeXBT Review: Security

Cloudflare protects it from DDOS attempts. The platform is secured using Amazon Web Services’ SSL (AWS). This protects all data transported over the internet by encrypting it.

Only a portion of the assets are kept in the hot wallet; the remainder is kept in the cold wallet. PrimeXBT performs all transfers from cold to hot wallets manually. They save passwords using the “bcrypt” technique, which means that even if hackers gain access to the server, they will be unable to obtain your credentials.

PrimeXBT Security Features

To add an additional degree of protection, it utilizes Google’s two-factor authentication. It makes no use of SMS and instead makes use of the Google Authenticator app. You must select “Enable GA” in your account’s Google Authenticator area.

You should make a copy of the secret key and verify the configuration by inputting the produced code. It employs Bitcoin Address Whitelisting to add an additional degree of protection to the funds of its clients. Withdrawals are permitted only to whitelisted wallet addresses.

Any error will result in a permanent loss of cash; it is critical to whitelist external bitcoin wallet addresses. By going to the withdrawal page and entering a new address, you can whitelist a wallet address.

PrimeXBT Covesting

PrimeXBT recently made the Covesting Module available to all platform users. This enables you to replicate and execute the trading techniques of professional traders automatically.

PrimeXBT Covesting

It is one of the first exchanges to provide this functionality. It contributes to the establishment of a transparent atmosphere. The Covesting tab provides a comprehensive list of bitcoin traders. You can examine the profits made by other traders during the last twenty-four hours and since they joined.

PrimeXBT Covesting Dashboard

Beginners and occasionally experienced traders are interested in learning about and researching a trader who has earned a substantial profit.

PrimeXBT Covesting Dashboard

Additionally, you can arrange them according to their profit. Three easy procedures will enable you to emulate the trader:

  • Select a trader based on their performance.
  • Determine the maximum amount that you are willing to allocate.
  • Then click follow to reap the same benefits.

The more followers you have, the more earnings you will earn from profitable cryptocurrency trading.

Languages & Supported Countries

PrimeXBT currently supports over 200 countries. They are prohibited in a number of major countries due to legal interference, including the United States, Canada, and Japan.

It is available in a variety of languages, including English, Hindi, Chinese, Korean, Spanish, Portuguese, Russian, and Italian.

PrimeXBT Analysis Tools

PrimeXBT facilitates both technical and fundamental analysis of all assets available on its trading platform. PrimeXBT has a variety of built-in indicators and charting analysis tools.

PrimeXBT Analysis Tools

On the PrimeXBT platform, it’s simple to design and import your own tools and indicators. Additionally, you can quickly export and analyze your trading history.

PrimeXBT Mobile Application

Users can get the PrimeXBT application from the Google Play store.

PrimeXBT Mobile Application

The mobile app’s user interface is intuitive, making it simple for users to explore and use the advanced charting features.

PrimeXBT Affiliate Program

Additionally, you can earn money by recommending your friends to the platform. PrimeXBT has a referral scheme that is tier-based. You earn a percentage of the trading fees charged to those you recommend directly and a percentage of the trading costs charged to second and third-tier referrals.

Affiliate Program PrimeXBT Features

This is considerably distinct from the offerings of other platforms. You can find your PrimeXBT referral code in the “referral” section of your account management page.

PrimeXBT Customer Support

It offers customer service 24 hours a day, seven days a week. You can reach them by email at [email protected] or via postal mail at [email protected]. You can also contact them via their live chat tool, which is accessible from the account menu.

PrimeXBT Customer Support

Chat helpers are responsive. Often, the chat assistants initiate the conversation. Additionally, you can contact the platform via the PrimeXBT Telegram channel.

PrimeXBT User Experience

PrimeXBT’s user interface is straightforward and intuitive. The platform can be completely customized. You can reorder the market window, charts, and widgets to suit your preferences. You have the ability to customize the colors, spacing, and grids. It incorporates a bar, candlestick, and line charts.

The chart’s colors can be customized. The platform is pre-loaded with 90 technical analysis indicators. For instance, MACD, moving average, Ichimoku, and so forth. Their entire platform is widget-based.

You can add a panel to any workspace. Among these widgets are messages, charts, and order forms. Additionally, you can download the primeXBT mobile application.

It enables you to keep an eye on your deals even on the move. It is compatible with both Android and Apple devices. The app’s UI is really intuitive and simple to navigate. You can configure the app to your liking.

PrimeXBT Review: Fees

Let’s have a look at the division of the fees.

1. PrimeXBT Deposit Fees:

There are no deposit costs associated with cryptocurrencies.

While you cannot deposit fiat cash on the platform, you can acquire Bitcoin to fund your PrimeXBT account directly through their third-party payment providers, who may charge a fee.

2. PrimeXBT Trading Fees:

The trading costs on PrimeXBT vary according to the asset type.

  • Cryptocurrency: 0.05%
  • Forex & Metals: 0.001%
  • Stock Indices: 0.01%
  • Gas and Oil: 0.01%
  • PrimeXBT Covesting (Copy Trading) Fees

Covesting (also known as Copy Trading) is a feature that is completely free to set up, but a fee is collected on your gains. 20% of gains are distributed to the trader you are following, and a percentage of profits is distributed to PrimeXBT, which fluctuates based on the size of your initial investment.

The trading fees associated with Covest are distinct from standard trading fees. These fees are progressive, which means they increase in proportion to the Followers’ Equity.

This is the aggregated equity of all a trader’s followers. You may read more about PrimeXBT’s progressive fee structure here. This table summarises the trade fees charged by Covesting for various instruments.

Is your cryptocurrency safe with PrimeXBT?

PrimeXBT is committed to providing its platform users with the best level of security possible. It asserts that it has a robust, multi-layered cyber security framework.

This framework ensures that stringent controls and procedures are in place to safeguard customer assets against threats or cyber-attacks. PrimeXBT conducts random stress testing and security audits to verify the network’s security remains uncompromised.

Among its special security measures are the following:

  • Two-factor authentication (offered by Google) to protect users’ accounts from illegal access
  • Secure sockets layer (SSL) encryption to encrypt and safeguard website traffic
  • All passwords are hashed using the bcrypt algorithm.
  • Cloudflare is used by PrimeXBT to protect against potential distributed denial-of-service (DDoS) attacks.
  • Ongoing IT security evaluations are performed to ensure that no new potential vulnerabilities are discovered.
  • Amazon Web Services hosts the PrimeXBT environment (AWS). AWS has a track record of setting the industry standard for digital and physical security.

PrimeXBT is right for you if:

  • You are a trader at any level, from novice to seasoned.
  • You do not reside in the United States, Canada, or any of the 12 other no-go nations.
  • You do not need a large portfolio of cryptocurrencies to trade.
  • You have no desire to lend or borrow features.
  • You’re intrigued by the prospect of many passive revenue streams.
  • Cybersecurity is critical.

PrimeXBT Review: Pros & Cons

Let’s have a look at the advantages and disadvantages of PrimeXBT:


  • Eleven cryptocurrencies, more than fifty forex pairs, eleven stock indexes, and five commodities
  • Covesting in order to replicate the trades of successful investors
  • Live Chat assistance is available.
  • Mobile app for iOS and Android CFD trading, allowing you to trade cryptocurrency long or short.


  • Deposits and withdrawals of fiat currency are not permitted.
  • Margin trading only – leverage amounts are fixed
  • Only CFDs are available; cryptocurrency cannot be purchased.
  • Not supported in the United States of America, Canada, France, Japan, or Israel

FAQs About PrimeXBT Review:

Is PrimeXBT legitimate?

Yes, PrimeXBT is a real cryptocurrency trading platform that was founded in 2018 and is currently active in over 150 countries.

Can PrimeXBT be hacked?

PrimeXBT is a very secure platform with numerous security measures in place, but no matter how secure a platform is, it is always possible for it to be hacked. To our knowledge, PrimeXBT has been unhacked since its inception in 2018.

Is PrimeXBT safe?

Yes, PrimeXBT is a secure trading platform with a robust cyber-security architecture in place to safeguard customer assets at all times. PrimeXBT's trading engine was built to the highest industry standards for online trading. Each system has been coded uniquely to minimize latency and accelerate order execution. The system automatically monitors all risks connected with purchasing power, purchasing power factor, maximum order size, maximum position size, P/L loss thresholds, and odd lot allowance, and performs a comprehensive risk check following each order placement. PrimeXBT takes pride in providing one of the most advanced and dependable trading platforms available.

Can PrimeXBT be trusted?

Yes, PrimeXBT is a reputable trading platform with a robust cyber-security structure in place to safeguard customer assets at all times. PrimeXBT's trading engine was built to the highest industry standards for online trading. Each system has been coded uniquely to minimize latency and accelerate order execution. The system automatically monitors all risks connected with purchasing power, purchasing power factor, maximum order size, maximum position size, P/L loss thresholds, and odd lot allowance, and performs a comprehensive risk check following each order placement. PrimeXBT takes pride in providing one of the most advanced and dependable trading platforms available.

Is it legal to use PrimeXBT in the US?

PrimeXBT is illegal in the United States due to restrictions on CFD/derivatives trading and high-leverage trading enacted by the federal government. You must utilise a virtual private network (VPN) if you travel to the United States and wish to use your PrimeXBT account (VPN).

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Verdict: PrimeXBT Review 2024

PrimeXBT is an excellent platform for margin traders looking to trade cryptocurrency, forex, commodities, and stock indices while utilizing Bitcoin, Ethereum, or a USD stable coin as the base currency.

It features Copy Trading, minimal trading costs, a diverse selection of investment instruments, and leverage up to 1000x (dependent on the asset). PrimeXBT, on the other hand, is not ideal for everyone.

There is no spot trading accessible, all trades are leveraged, and all trades are CFDs, which means that you do not hold any bitcoin on PrimeXBT. Additionally, this platform does not support the withdrawal or deposit of fiat currency.

If you’re looking for a similar trading platform, By bit is another excellent option, offering spot trading in addition to derivatives, perpetual, and futures.

If you’re looking for a crypto exchange where you can buy cryptocurrency and deposit and withdraw fiat currency, check out our post on the best crypto exchanges.


A graduate of the IIMC, Diksha enjoys testing out new tech products and services. Her goal is to help others make more informed purchases of tech products and services. In her spare time, she enjoys traveling, watching movies, and listening to music. An ardent reader loves to be surrounded by technology. You can follow her on LinkedIn and Instagram

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