Regulated

Comment

Seychelles

2018-05-07

6.6

Website

https://primexbt.com

Rating Index

Software

7.91

Licensed

5.23

Risk Control

8.47

Experience

8.25

Institution

5.23

Industry Classification

Unqualified

Trading Platforms

MetaTrader 5, PrimeXBT platform

Basic Information

Registered Region

Seychelles
Operation Status

Normal
Operating Period

2018-05-07
Deposit Methods

Bank Transfer, Credit Card, Crypto, E-wallets (Skrill, Neteller)
Website

https://primexbt.com
Market Type

Foreign exchange
Support Languges

English

Spanish

French

German

Portuguese

Russian

Chinese

Japanese

Arabic
Main Business

FX, commodities, stocks, indices, CFDs
Business Type

Multi-asset broker
Social Media
Contact Details

info@primexbt.com', 'support@help.primexbt.com
Type of Accounts

Standard, Pro, Demo
Trading Platforms

MetaTrader 5, PrimeXBT platform
Withdraw Methods

Bank Transfer (BCA, AGI, China Construction Bank)
Auto Trading

EA supported, CopyTrade available

Pros and Cons

Pros: Regulated by FSCA and FSRA; tight spreads starting at 0.1 pips; supports multiple assets; low minimum deposit of $10; offers a demo account. Cons: High leverage up to 1:1000 can be risky; withdrawal fees up to 1%; some users report customer service issues.

Company Background

PrimeXBT was established in 2018 and has quickly positioned itself in the multi-asset trading space, focusing primarily on cryptocurrency derivatives. Headquartered in Saint Lucia, it is also regulated by the Seychelles Financial Services Authority (FSCA) and has a solid reputation for providing a robust trading environment. The company has expanded its trading offerings, allowing more access to various asset classes and continually enhancing its platform features.

Fund Security

PrimeXBT employs stringent security measures, including SSL encryption for data protection, segregated accounts for client funds, and assurance from regulatory bodies like the FSCA and FSRA. However, potential clients should be cautious due to the offshore nature of its lesser-regulated entity in Saint Lucia, which may lack the same investor protections as more jurisdictions.

Account Opening

To open an account with PrimeXBT, traders must provide basic identification and undergo a verification process. The broker offers several account types, including Standard and Pro accounts, each designed to cater to different trading styles. The minimum deposit requirement is $10, allowing users to start trading with lower capital. A demo account is also available for practice.

Trading Fees

PrimeXBT offers a competitive fee structure with zero commissions and spreads starting from 0.1 pips for CFD trading. While deposits are free of charge, withdrawals incur up to a 1% fee depending on the method. There may also be overnight fees associated with leveraged trades, which traders should consider when holding positions over time.

Trading Instruments

PrimeXBT provides access to a wide variety of trading instruments, including over 350 asset types. These include Forex pairs, a selection of cryptocurrencies, commodities like gold and oil, indices such as the S&P 500, and major global stocks. This diversity allows traders to tailor their portfolio to their preferences and market conditions.

Trading Technology

PrimeXBT's trading platform is built on a robust technological framework, supporting both its proprietary WebTrader and MetaTrader 5. Traders benefit from a customizable interface, advanced charting tools, and quick execution speeds, which are crucial for active trading. The platform allows for various order types and integration with automated trading strategies using EAs.

Research and Education

PrimeXBT provides educational resources including market analysis tools, trading tutorials, and webinars designed to improve traders' skills and knowledge. The platform continually enhances its educational offerings to better equip users for navigating complex markets. Various research tools are also available, helping traders make informed decisions based on market trends and analysis.

Customer Support

Customer support at PrimeXBT is available 24/5 through various channels, including live chat and email. Response times can vary, but the service generally receives fair reviews from users. Support is available in multiple languages, which broadens accessibility for traders around the globe.

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Rating Index

PrimeXBT

Regulated

Legal Environment

7.91

License Value

5.23

Risk Management

8.47

Investor Protection

8.25

Regulatory Policy

5.23

Software

Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.
Institution

Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.
Licensed

Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.
Risk Control

Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.
Investor Protection

Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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