PrimeXBT Review
PrimeXBT Review
PrimeXBT is a Bitcoin-based platform, offering over 30+ assets including Crypto, Forex, Commodities, and Stock Indices. Forex companies offer a trader both safety and stability while they trade. They maintain an easy-to-use trading environment, providing many different tools for traders to choose from. Prime XBT offers high leverage across all available instruments at low rates; besides this will give you access to highly reliable market data and excellent performance due to its robust system.
Is PrimeXBT regulated?
It is not safe to trade with XBT Prime due to the fact that it is an offshore broker while Seychelles and St. Vincent and Grenadines are both well known for their lack of regulations on forex brokers, with this in mind, it is no wonder that trading services like Hugo’s Way or Just Forex have flourished there – not to mention certain other questionable operations.You can also read our detailed article about the risk numbers associated with trading through brokers from St Vincent & Grenadines.
Is PrimeXBT a scam?
PrimeXBT does not provide any information about its location or contact details, which is one of the red flags when it comes to trading with this broker. You are obligated to research up on these before investing in PrimeXBT.
PrimeXBT in India
PrimeXBT doesn’t mention complying with any Indian regulators on their site, and the fact that forex trading is banned in India should be taken into account. This broker is unregulated by a regulatory body in India, which means that money safety may be an issue.
PrimeXBT in the USA
PrimeXBT, a trading site that prohibits U.S traders from using its services, claims to be one of the fastest and safest options for cryptocurrency exchange on the market. However, this is not true- they are not regulated by CFTC which means you cannot trade with them at all. This means that there are no other platforms available to US citizens and those who want to be approved must register with the CFTC.
Deposits & Withdrawals
PrimeXBT is a cryptocurrency exchange platform. There are many ways to deposit funds, including bank transfer and credit card transactions. Fees are incurred when buying or selling assets on the market with overnight financing withheld for positions carried into the next trading day (after 00:00 UTC).
Apps
The PrimeXBT platform can process over 12,000 trades per second. It also allows cross-margin trading and performs full risk checks after every order. The aggregator provides feeds to ensure high liquidity of all tradable assets on the XBT Prime system.
Demo Account
If you need to transfer cryptocurrency, PrimeXBT can help. We offer a variety of ways to deposit money- credit card/bank transfer/SEPA transactions and third-party exchanges for example. There are trade fees incurred when buying or selling assets on the market, but overnight financing is due when carrying any position into the next trading day (after 00:00 UTC), which will be deducted from your balance.
Conclusion – PrimeXBT Review
We advise traders to never trade with brokers that are not licensed. The service is unreliable, which can be seen from the fact there’s no guarantee from any of the major regulatory bodies overseeing Forex and binary options platforms. It is a high-risk option for traders.
We strongly advise all customers to open an account with regulated brokers, such as UK-based AvaTrade and Australian XM, who have a good reputation for providing reliable services throughout their time in the industry. Open accounts with these well-regulated individuals to trade confidently.
