Trade Smarter, Not Harder
Prime XBT offers a diverse range of assets, including CFDs, cryptocurrencies, commodities, and indices. Regulated by FSCA and FSC, it stands out with high leverage options, fast transactions, and a beginner-friendly platform, making it a compelling choice for traders seeking flexibility and accessibility.
Expert Reviewer Verdict
Prime XBT is a versatile platform tailored for both beginners and experienced traders. Its standout features include an intuitive app, a broad selection of assets such as CFDs and cryptocurrencies, and high leverage options ideal for small capital traders. The platform offers fast deposits and withdrawals with various local payment methods. With copy trading functionality and a membership with the Financial Commission, users benefit from added security and support.
While Prime XBT lacks a swap-free account, its focus on ease of use, regulatory compliance, and accessibility makes it a strong contender in the market. Targeted at traders seeking flexibility and efficiency, Prime XBT combines advanced tools with a user-friendly design, ensuring a seamless trading experience.
Pros and Cons
Pros
- Easy-to-Use App for All Trading Levels
- Wide Asset Selection, Including CFDs and Crypto
- High Leverage Options for Small Capital
- Fast Deposits and Withdrawals Locally
- Membership with the Financial Commission
Cons
- No Swap-Free Account Available
- No Desktop Trading Platform Offered
- Overnight Fees Vary by Market Conditions
Trust and Safety
Security You Can Rely On
Prime XBT prioritizes trust and safety through robust regulatory compliance and advanced security measures. As a multi-regulated broker under FSCA and FSC, it adheres to stringent standards to protect traders. Fraud prevention is reinforced by an AML team and a data analysis team that actively monitor transactions to prevent unauthorized activity.
Client fund security is ensured through membership with the Financial Commission, offering an extra layer of protection. The platform incorporates cutting-edge security protocols, such as Two-Factor Authentication (2FA), withdrawal address whitelisting, and encrypted personal information. Regular system performance assessments and penetration tests further strengthen its reliability. With these safeguards, Prime XBT delivers a secure trading environment that builds user confidence.
Regulatory Body | Status |
ASIC | No |
CySEC | No |
DFSA | No |
EFSA | No |
FCA | No |
FMA | No |
FSA (SC) | No |
FSCA | Yes |
FSC | Yes |
JFSA | No |
MAS | No |
MiFID | No |
Tradable Instruments
Trade a Diverse Range of Assets
Prime XBT offers an impressive variety of tradable instruments, catering to both novice and experienced traders. The platform features over 200 instruments, spanning multiple categories such as currencies, commodities, cryptocurrencies, and indices.
Currency trading enthusiasts can access a broad selection of forex pairs, including major, minor, and exotic options like EUR/USD, GBP/JPY, and AUD/NZD. Cryptocurrency traders benefit from a wide range of popular digital assets such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), alongside altcoins like Dogecoin (DOGE) and Polkadot (DOT).
The commodities lineup includes precious metals like gold and silver, while indices provide exposure to global market trends. With such a comprehensive range of instruments, Prime XBT allows traders to diversify their portfolios and explore various trading strategies on a single platform.
Trading Instrument | Available |
COMMODITIES | Yes |
CURRENCIES | Yes |
CRYPTOCURRENCIES | Yes |
ETF | No |
FUTURES | No |
INDICES | Yes |
STOCKS | No |
BONDS | No |
OPTIONS | No |
Account Types
Simple Accounts for Every Trader
Prime XBT keeps things straightforward by offering a single standard account designed to meet the needs of most traders. This account type is ideal for both beginners and seasoned investors, offering access to the full range of tradable instruments, including CFDs, cryptocurrencies, commodities, and indices.
Notable features of the standard account include a low minimum deposit starting at just $1, making it highly accessible for traders with small capital. Additional perks include the availability of a demo account for practice trading and a segregated account to ensure client funds are securely held separately from company funds.
Account Type | Available |
DEMO ACCOUNT | Yes |
ISLAMIC ACCOUNT | No |
SEGREGATED ACCOUNT | Yes |
MANAGED ACCOUNT | No |
SUITABLE FOR BEGINNERS | Yes |
SUITABLE FOR PROFESSIONALS | Yes |
US TRADER | No |
Commission and Fees
Transparent Cost Structure
Prime XBT offers a transparent fee structure, focusing on spread-based charges while avoiding unnecessary costs like account or inactivity fees. Here’s a detailed breakdown of their commissions and fees:
Account Minimum
Prime XBT offers accessibility with a low account minimum deposit starting at just $1, making it an excellent option for traders with limited capital.
Trading Fees
Prime XBT does not charge trading fees. Instead, traders only pay a spread, ensuring cost transparency.
CFD Fees
There are no specific CFD fees; trading CFDs is included under the spread-based fee structure.
Forex Fees
Forex trading on Prime XBT is also fee-free, with costs limited to the spread.
Futures Fees
Prime XBT does not offer futures trading; hence, there are no associated fees.
Account Fee
There are no account maintenance fees, providing traders with a hassle-free experience.
Inactivity Fee
Prime XBT does not charge any inactivity fees, making it ideal for occasional traders.
Deposit Fee
Deposits are entirely free of charge, regardless of the method used.
Withdrawal Fee
A withdrawal fee of up to 1% of the transaction amount applies, depending on the payment method.
Overnight Funding Fee
Overnight funding fees are variable, depending on bank rates, trading volume, and market prices.
Currency Conversion Fee
There are no currency conversion fees on Prime XBT.
Guaranteed Stop Order Fee
Prime XBT does not charge for guaranteed stop orders, providing traders with added flexibility.
Trading Platforms
All-In-One Trading Solutions
Prime XBT offers a seamless trading experience with its proprietary platforms, tailored for traders of all levels. The broker supports mobile and web trading, ensuring flexibility and convenience.
Mobile Trading Apps
Prime XBT provides in-house mobile apps for both Android and iOS users. These apps are intuitive and designed for on-the-go trading, offering access to the full range of assets and features.
Web Trading Apps
The web trading platform is user-friendly and requires no downloads. It allows traders to execute trades efficiently and manage portfolios from any device with internet access.
Desktop Trading Apps
Currently, Prime XBT does not offer a desktop trading platform. However, the mobile and web options provide comprehensive tools to meet the needs of most traders.
Trading Platform | Available |
MT4 | No |
MT5 | No |
CTRADER | No |
PROPRIETARY | Yes |
Desktop and Web Platform | Available |
DESKTOP WINDOWS | No |
DESKTOP MAC | No |
WEB PLATFORM | Yes |
Mobile Platform | Available |
ANDROID | Yes |
iOS | Yes |
Unique Features
Standout Features for Traders
Prime XBT sets itself apart with a suite of unique features tailored to enhance the trading experience. The platform combines simplicity with innovation, making it highly appealing to both beginners and experienced traders.
Key features include an easy-to-use interface and a streamlined account creation process, enabling traders to start quickly. Its copy trading functionality empowers users to replicate the strategies of successful traders, a valuable tool for those new to the market.
Additionally, Prime XBT allows trading of CFDs and cryptocurrencies within the same platform, offering unparalleled convenience. High leverage options provide opportunities for small-capital traders to amplify their positions. These unique features collectively make Prime XBT a versatile and efficient platform for diverse trading needs.
Research and Education
Learn and Grow with Prime XBT
Prime XBT offers valuable research and educational tools to support traders in making informed decisions. The platform provides weekly market research, accessible through its website, covering the latest trends and insights across various trading instruments.
This resource is ideal for both beginners seeking to understand market dynamics and experienced traders looking to refine their strategies. By delivering concise and actionable information, Prime XBT ensures its users are equipped to navigate the complexities of the trading world confidently.
The focus on regular updates and accessible content makes Prime XBT an excellent choice for traders who value continuous learning and staying informed about market developments.
Customer Support
Always Available Support
Prime XBT provides 24/7 customer support to ensure traders receive timely assistance whenever needed. The broker offers support through two primary channels: live chat and email. This ensures that users can address their queries quickly, whether they require immediate help or prefer a more detailed resolution via email.
The round-the-clock availability of support makes it convenient for traders operating in different time zones. While the absence of phone support may be a limitation for some, the efficient chat and email options still provide robust solutions for addressing user concerns. Prime XBT’s commitment to accessible and responsive support reflects its dedication to maintaining a reliable trading environment for all users.
Account Opening
Start Trading in Minutes
Opening an account with Prime XBT is a quick and straightforward process.
Registration: Users begin by providing basic details to create their account on the platform.
Verification: After registration, users complete a verification process to confirm their identity, ensuring compliance with regulations and enhancing account security.
Document Upload: Necessary documents, such as identification and proof of address, must be uploaded to finalize the verification process.
Once the steps are completed, users can deposit funds and start trading, enjoying a seamless and efficient onboarding experience.
Deposit and Withdrawals
Fast and Flexible Transactions
Prime XBT ensures a hassle-free experience with its efficient deposit and withdrawal processes.
Deposits: Users can fund their accounts through various methods, including bank cards, bank wire transfers, cryptocurrencies, and e-wallets. Local payment methods are also supported, with instant processing for added convenience.
Withdrawals: Withdrawals are processed via cryptocurrencies, bank cards, bank wire transfers, and e-wallets. Transactions are typically completed within 24 hours from the broker’s side, ensuring timely access to funds. However, a withdrawal fee of up to 1% may apply, depending on the payment method used.
Prime XBT’s flexible transaction options make it easy for traders to manage their funds securely and efficiently.
Final Thoughts
Prime XBT stands out as a versatile and user-friendly platform, offering a wide range of tradable instruments, from cryptocurrencies to CFDs and commodities. Its high leverage options and beginner-friendly features make it accessible for traders of all experience levels. The broker’s robust security measures, including Financial Commission membership and advanced encryption, ensure client trust and fund safety.
While the lack of a desktop platform and swap-free accounts may deter some, Prime XBT compensates with its efficient mobile and web trading solutions, fast transactions, and transparent fee structure. With 24/7 customer support and educational tools like weekly market research, the platform is well-suited for traders seeking reliability and growth.
Overall, Prime XBT provides a secure and efficient trading environment, making it a strong choice for traders looking to diversify their portfolios and maximize their trading potential.
Contact Info
180 Lancaster Road, Gordons Bay, Western Cape, 7140
FAQs
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Question: What is the Minimum Deposit Required at Prime XBT?
Answer: The minimum deposit required to start trading with Prime XBT is just $1, making it highly accessible for all traders. -
Question: Are There Any Account Maintenance or Inactivity Fees?
Answer: No, Prime XBT does not charge any account maintenance or inactivity fees, allowing traders to hold accounts without added costs. -
Question: Which Trading Platforms Does Prime XBT Offer?
Answer: Prime XBT offers a proprietary mobile app for Android and iOS, along with a web trading platform. A desktop platform is not available. -
Question: How are Deposits and Withdrawals Processed?
Answer: Deposits can be made via cards, bank wires, cryptocurrencies, and e-wallets, with instant processing for local payments. Withdrawals are processed within 24 hours, with fees up to 1% depending on the method.
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