PrimeXBT Review: A Simple One-Size-Fits-All Trading Platform

While multi-asset platforms are often overwhelming for investors, PrimeXBT is the exception. Thanks to its in-depth tools and generous leverage conditions, this platform is dedicated to making its users feel as confident with trading as possible.

The enticing mixture of investment options and the low fees have made PrimeXBT a joy to use on mobile and desktop. While it does have a few drawbacks here and there, PrimeXBT still proves to be an accessible all-in-one shop that can appeal to all investors, regardless of skill, with the small caveat that not everyone will be eligible to access it. 

PrimeXBT Features

PrimeXBT offers CFD (Contract for Difference) and Futures trading alongside buying crypto directly. However, when taking a peek under the hood, plenty of additional tools ensure its users feel as comfortable as possible when taking on the market. Trading tools like TradingView for market predictions, a custom wallet for easy asset storage, and copy trading to strategize an investment plan ensure investors, beginners and veterans alike, have everything they need to start trading. PrimeXBT also possesses a healthy number of incentives to reward its users for simply interacting with the platform. 

Availability	150+ countries, including Australia, UK, Norway, Poland, Brazil, Belgium etc. Currently, it is unavailable in 19 countries, including the US, Japan, Canada, and Cuba.
Fees	No deposit fees. 0.5% trade fees for crypto and 0.0001% for other asset classes. 0.0005 BTC withdrawal fee equivalent.
Range of Crypto	30+ including BTC, ETH, ADA, SHIB, DOGE
Trading Options	F2C, C2C
KYC	Not mandatory
Mobile app	iOS and Android
Complexity	[3/10]
Transaction Volume	24-hour average is over $200,000,000
Based in	Victoria, Seychelles
Licensed in	Lithuania, Saint Lucia
Debit (Credit) card option	Yes

PrimeXBT is available in over 150 countries worldwide, including the UK, Australia, New Zealand, Poland, Brazil, and many others. However, it has yet to make the jump over to the United States or Japan, which does limit its accessibility somewhat. 

Regardless, the features on offer here make this a great platform to trade on if you can access it, which I enjoyed using, especially for how streamlined it was in practice. 

The Flagship Feature

The ‘Copy Trading’ feature might not initially be the first thing users gravitate towards. In truth, this handy tool can act as a guiding star for investors who need that extra dose of confidence to take on the trading market. When selecting the Copy Trading menu, there will be a list of 50 vetted investors who have recently received a lot of buzz for their profitable trading ventures. 

While a star rating ranks each copy-trade-approved vet investor, it’s when clicking on them that all of the juicy information is revealed. Selecting a user will display their total earnings by week or month, their trading activity history, and their asset diversification, just to name a few. This information is important because it helps instill confidence in investors approaching the market for the first time or re-approaching it after a long hiatus.

The ‘My Strategies’ tab on the Copy Trading screen also makes setting out your own organized plan of action easy, and in case you need a little extra support, there’s even a dedicated covesting community chat of over six thousand members where users can discuss the best ways to go about utilizing the feature to its full potential.

It needs to be prefaced that those who directly copy a trader’s strategy will earn up to 75% of the profit share, depending on their COV membership. COVs are a native token to PrimeXBT, and a person’s membership, and in turn, their profit share from copy trading, will depend on the number of COVs they have locked. $250 worth of COV unlocks Advanced, $2,000 unlocks Premium, and $20,000 unlocks Elite. Thankfully, BTC, ETH, and other altcoins can be easily exchanged for COV tokens. 

Additionally, standard members will incur a 1% (Standard) or 0.5% (Advanced) entry fee of the total required amount to copy a vet trader. Premium and Elite members aren’t charged any entry fees. In my experience, this fee seemed like a light price, considering how generous the profit share can be when following a reliable trader.

Overall, the copy trading feature stands out for how in-depth it is, revealing tons of precious data that proved valuable when entering the market, thanks to how much it helped me set out a trading strategy.

Trading Options

PrimeXBT offers a healthy selection of simple and advanced trading options for investors. Here’s the range of trading options available on PrimeXBT:

•  Buying crypto.
•  Trade crypto futures.
•  Copy trading.
•  CFD trading for crypto, forex, indices, and commodities.

PrimeXBT provides a handful of advanced trading options, so even if you just start out buying a small portion of Bitcoin you can then dip into other investments, such as Futures and CFDs, after becoming more confident.

Buying Crypto 

PrimeXBT allows users to buy crypto directly with Visa or Mastercard as a payment method. The option to buy crypto directly shows up on the website’s main screen, but choosing it will prompt you to log in first. The cryptocurrencies available for direct purchase are BTC, ETH, USDT, and USDC, and they can be bought using most major fiat currencies, including GBP, USD, and CAD.

CFD Trading

There’s also CFD trading, which provides a competitive 200x leverage on Bitcoin and Ethereum and up to 50x for most altcoins. CFD trading is compatible with over 30 cryptocurrencies, including, but not limited to, BTC, LTC, ETH, XRP, ADA, DOT, and SOL. 

Speaking to the forex pairs, which involve estimating the price difference between two fiat currencies, there’s a plentiful selection on offer, including GPB/USD, EUR/CHF, and USD/SGD.

Crypto Futures

Additionally, Futures trading is available for experienced investors who want to try to predict market price movements. Users can freely choose between opening long or short positions on various Futures, including Bitcoin, Ethereum, and Litecoin, and they can also enjoy a 0.01% maker fee and 0.02% taker fee. 

Tools

PimeXBT offers two tools investors will benefit greatly from: TradingView and the market interface toolset. The former, Tradingview, is originally a separate platform designed to provide market estimations, but PrimeXBT users will find it already built into the platform.

It features an abundance of built-in indicators to help predict market fluctuations, including Bollinger Bands (BB) to measure the long-term price of an asset on average and On Balance Volume (OBV) to register the price of an asset by comparing its price and trade volume. Though this might sound a bit complicated, the TradingView feature was streamlined enough to give me a clear indication of where future prices might be heading without getting bogged down in the technical weeds. 

The second tool, or set of tools, is the indicator that can be applied on the trading screen. Advanced traders often use these to help identify entry and exit points and understand market sentiment. Trend lines, such as the Fibonacci and Trend Channel, can be used to bookmark important levels. There’s even the option for text notes, which can be inserted anywhere on the market screen, which proved to be a big help in keeping track of how much I traded and whether it was worth it at the time. 

PrimeXBT also comes with a handy ‘Market Research’ tab that provides some context on the platform’s systems, alongside the current state of the crypto market, which helped steer me in the right direction on the rare occasions where I got lost. 

Supported Cryptos

Prime XBT’s crypto asset offerings are limited to the ones that have become household names. PrimeXBT supports over 30 cryptocurrencies for leverage trading and futures, including XRP, SOL, BTC, ETH, and DOGE. 

If you’re accustomed to decentralized exchanges, you might be used to seeing a bigger option of cryptocurrencies. However, PrimeXBT still supports all the major players, alongside non-crypto commodities, so whether it works for you will depend on whether you’re specifically looking for a variety of crypto to trade or just a pool of assets in general. 

Costs

Trading fees on PrimeXBT start at 0.05% for crypto, and when paired with the platform’s zero deposit fees and no deposit amounts, it greatly reduces the financial barrier to entry. 

Copy trading will require an entry fee for Standard and Advanced COV members, 1% and 0.5% of the total amount, which varies by token. 

Withdrawal amounts are also fairly low but will depend on the token. Bitcoin, for example, will cost 0.0005 BTC, while Ethereum is 0.002 ETH. It needs to be prefaced that users have a 24-hour withdrawal limit of $20,000 until the account has been verified, which involves sending a document to prove their identity. That can be an ID card, passport, residence permit, or driver’s license. Thankfully, the verification process was quick and took me no more than five minutes.

The only part I found cumbersome was withdrawing fiat since this can only be done through Advcash and Perfect Money, two external programs that can take some time to set up and register for. 

The high leverage of 200x for Bitcoin and 100x for altcoins, mixed with the competitive fee structure, also allows users to keep hold of more of their trading profits. Crypto Futures similarly benefit from cheap fees, boasting a 0.01% maker fee and 0.02% taker fee, putting it alongside Kraken as one of the cheapest Futures services. DailyCoin reminds you that leverage and Futures are high-risk investments, so caution is heavily advised when approaching them on the market. 

Incentives 

PrimeXBT offers a wide assortment of incentives that make it easy to consistently earn rewards over time simply by interacting with the trading platform. Alongside the 7% first deposit bonus welcoming gift, the exchange runs contests where users compete to see who can make the most trades within a set period to win extra cash. 

The reward systems are more of a personal incentive and award users for reaching a specific trading volume, but it made me want to stay on the platform long-term to net some goodies along the way. 

Finally, there are referrals. PrimeXBT runs a generous referral system to encourage existing users to recommend the platform to friends. Once the new user(s) starts trading, the referrer earns a portion of their trading fees just for recommending them and scales with the number of successful referrals. Again, this further incentivised me to stick with PrimeXBT, considering there was so much passive income to earn alongside the standard trading profits. 

Unlock Requirements:

• Contests: Place in the top 3 users to earn monetary rewards.
• Rewards: Reach a specific trading volume and earn monetary rewards.
• Referral: Refer one friend to get 5% of their trading fee, 10% for referring two friends, and 15% for three friends.

PrimeXBT User Experience

Making a PrimeXBT Account

Creating an account on PrimeXBT is quick, simple, and hassle-free thanks to the omission of the usual bells and whistles that typically accompany similar platforms. New users can sign up by entering their email, verifying it with the code sent to the email, and creating a password. From there, you can start trading immediately.

For the mobile app, you will also be required to set up a 4-digit personal PIN for logging in, just as an added layer of security. No minimum deposit amount is required to sign up, which adds to the accessibility. 

While no additional verification is required to enjoy the platform and its features, withdrawals will be limited to $20,000 in a 24-hour period until full verification is completed. To do this, users must provide a form of identification, such as an ID card, passport, residence permit, or driver’s license. However, the process is often extremely fast, and I was cleared for full account access within five minutes.

DailyCoin reached out to PrimeXBT and secured a special promo code to grant users a 20% deposit bonus. Interested users can sign up here.

Trading experience

Beginner’s View

PrimeXBT goes the extra mile to create a comfortable and easygoing environment once users enter the place where all the magic happens: the trading screen. 

For instance, the Futures and CFD market screens come with short, snappy, but effective tutorials that break down all of the screen’s icons and menus, including the order book and where to switch asset classes.  

It also helps that the critical information I needed, including my balance, equity, and available margins, was highlighted in white at the top of the screen, ensuring I didn’t need to keep switching between tabs. It was similarly nice to have the option to choose between “Regular” trading and “One click” trading, as while I stuck with the regular version for now, it assured me that there were always more investment options to experiment with once I gained more experience. 

The only real drawback I experienced was using the “+” symbol in the top left corner to add extra screens, such as a watchlist or dashboard. While a handy addition, they clogged up the screen pretty quickly, but aside from that, trading on PrimeXBT was an easy-to-understand and satisfying process overall.

Experienced Trader’s View

Right out of the gate, PrimeXBT is very user-friendly. It takes minimal effort to figure out how to navigate and use the platform, even with no prior knowledge. This includes both trading and withdrawing funds. 

For instance, opening and closing positions, probably the most important step in trading, is intuitive. The closing option is displayed near each position, making it easy to get out of a trade when it starts going sideways. I was able to figure out how to trade with minimal effort. 

I also appreciated that, when making trades in crypto, the menu displays the dollar value of a trade. This is also a great feature for those who have difficulty converting various cryptos to dollar amounts in their heads.  

For traders who are still unsure how the platform works, a tutorial embedded in the site guides them through all parts of the trading process. 

For more experienced traders, however, this beginner-friendly focus may have some drawbacks. While the menu is generally easy to navigate, accessing the most important features may require a few extra clicks. 

Experienced traders will, however, appreciate the large number of tools and trading indicators. The platform’s charts are highly customizable, allowing users to easily set up and adjust various indicators to fit their specific trading strategies. These tools are user-friendly, with an intuitive interface that simplifies applying and modifying indicators directly on the charts.

Performance

Beginner’s View

PrimeXBT’s user-friendly menus are easy to skim through and never come with any kind of slowdown. This even applies to the trading screen, where you flick between markets and currencies without ever being taken out of the experience by any freezing or sudden stops, keeping me immersed the entire time. 

Experienced Trader’s View

PrimeXBT generally delivers a reliable and responsive trading experience. The platform handles trading sessions well, allowing users to execute trades almost instantly. 

I have only encountered one issue with the site’s responsiveness. This was when I simultaneously tried to close many orders, causing the site to crash and refresh. However, this is a minor issue, as all the orders went through. 

Mobile vs. Desktop

Beginner’s View 

The good news is that the mobile PrimeXBT app is just as clear and responsive as its desktop counterpart. The main dashboard provided a full picture of your current funds and top-rated crypto by market cap, and the neat sub-menus, including “Copy Trading” and “Buy Crypto,” all made it very easy for me to navigate and understand. 

For some reason, though, on mobile, the customer service and referral programs are hidden away on the profile icon at the top left, so in some cases, it could take a bit more digging to find the features you’re looking for. 

Experienced Trader’s View

The mobile and desktop versions of PrimeXBT have proven to be quite responsive. Whether using my phone or computer, the platform consistently performs without lag, which is important when timing matters in trading.

The mobile app is useful for making quick trades when not at my desk. It’s designed for efficiency, allowing me to handle trades with just a few taps. It’s been convenient when I need to react to the market quickly, even when I’m away from my computer. However, it lacks more advanced features readily available on the desktop version. 

On the other hand, the desktop platform offers a more comprehensive trading experience with detailed charts and a wider range of technical indicators. This makes it better suited for in-depth analysis and managing more complex trading strategies. I use mobile for speed and convenience, while the desktop is my go-to for detailed work.

Prime XBT Customer Service

Beginner’s View

The PrimeXBT exchange knows that crypto is the ‘currency of the people,’ so it provides 24/7 email customer support for users. It also includes separate IBS and affiliate-only emails so that everyone doesn’t contact the same support team simultaneously, ensuring replies usually take no more than a day.

The live chat was also very responsive, immediately answering questions and responding to queries in less than a minute. Additionally, since the live chat doesn’t rely on FAQs, it feels like you’re speaking to a real person on the other end rather than an automated bot. Prime XBT also has community channels spread across YouTube, X, and Instagram, which I found very active and popular with ongoing discussions concerning the platform’s current state and future projects. 

Experienced Trader’s View

Any traders experiencing issues can rely on the strong support features. Unlike with many platforms, including Binance, chat support is not hidden behind a labyrinth of guides, FAQs, and chatbots. Real-person support is right on top of all the other options. I was also able to get a response within a minute of asking a question. 

Of course, the platform also has a range of guides and resources for users to engage with. These include an FAQ section and educational resources that help new traders start trading. 

Prime XBT Security

PrimeXBT offers two-factor authentication so that people trying to get into an account must verify their identity twice through apps or text messages to gain access. This isn’t mandatory, though, and is hidden away in the ‘Settings’ tab, which I found strange considering how much of an industry security standard 2FA has become nowadays. 

Thankfully, the PrimeXBT platform goes above and beyond with security measures to keep users safe. Comprehensive risk assessments take place with every executed order, and there’s even withdrawal address whitelisting to ensure funds will never be taken out from the wrong address by a bad actor. 

Level 3 hardware security models, SSL website encryption, and cryptographically hashed passwords all made it feel like a crypto exchange, which went that extra mile to help me feel protected. The only thing that needs to be added in this department is a top-tier license regulator to legitimize the platform, but it still feels safe. 

Despite PrimeXBT not featuring mandatory KYC, non-KYC accounts will be capped at a $20,000 withdrawal limit. Additionally, the PrimeXBT team states that it reserves the right to verify a client’s identity and the source of their funds if they suspect something is wrong. 

Licensing

However, one important drawback is the need for a regulatory license. Though PrimeXBT is technically regulated in the EU, this only applies to Lithuania, and the only other country where it’s been approved is Saint Lucia.

This means that PrimeXBT can’t be held accountable for any scams, hacks, or fraud that affect the system for most users worldwide. 

It essentially means there isn’t a big legal authority figure, such as a governmental agency, looking over PrimeXBT’s activities at all times to keep its users protected, which does, admittedly, strip back an extra layer of protection. This isn’t to suggest that PrimeXBT is a lawless wild wasteland; it is just that the risk of the above misdeeds occurring can be more likely than with a regulated exchange. 

Additionally, there’s no easy way to recover funds on unregulated exchanges, so always take caution and contact customer support if something seems off. 

Transparency 

Though PrimeXBT is upfront about its fee costs, it doesn’t reveal any of the platform’s proof of reserve records. Additionally, I felt that the platform could have done a better job of highlighting the differences between certain features to new users, such as CFDs and Spot trading, which are commonly mistaken for one another. 

Methodology 

• Review Period: 1 week.
• Testing included: Mobile app and desktop testing, market interaction, and experimenting with extra features.

I tested PrimeXBT over one week. During this time, I jumped onto the platform daily to familiarize myself with its many trading options and features. I compared the platform’s mobile and web browser versions, partaking in some of its incentives and interacting with multiple crypto markets. This was all made possible through a PrimeXBT demo account, which allowed me to access the platform’s full range of features. 

As someone who has reviewed and compared multiple exchanges and trading services at DailyCoin, I went into this with a clear idea of what makes an exchange easy to use but still useful and effective in practice. My familiarity with cryptocurrency also prompted me to focus specifically on how PrimeXBT handles crypto and what services it offers to everyday investors.