Question 1

Is PrimeXBT regulated and safe for traders?

FXScope Intelligence Lab · Accepted Answer

PrimeXBT is registered in Seychelles and operates under multiple corporate entities including PrimeXBT Trading Services Ltd in Saint Lucia and PRIMEXBT (PTY) LTD in South Africa. The platform serves clients in over 150 countries and offers 24/7 multilingual customer support. While the company operates across multiple jurisdictions, traders should note that the platform is restricted in certain countries including the US, Canada, Japan, and others. PrimeXBT implements data encryption in transit and allows users to request data deletion, demonstrating commitment to data security. However, as with all trading platforms, investors should conduct their own due diligence and consult with legal and tax professionals in their region to ensure compliance with local regulations.

Question 2

What are PrimeXBT's trading fees and costs?

FXScope Intelligence Lab · Accepted Answer

PrimeXBT offers competitive fee structures across different trading instruments. For Crypto Futures trading, the platform charges a maker fee of 0.01% and a taker fee of 0.02%. Crypto CFDs carry a 0.05% trading fee. Notably, the platform offers 0% commissions on CFD trading pairs for traditional markets including global Forex, Commodities, and Indices. The fee structure varies depending on the specific instrument being traded, with cryptocurrency futures generally offering the lowest costs and traditional market CFDs providing commission-free trading. This makes PrimeXBT particularly attractive for traders looking to diversify across multiple asset classes while minimizing trading costs.

Question 3

What is the minimum deposit for PrimeXBT accounts?

FXScope Intelligence Lab · Accepted Answer

This information is not publicly disclosed by the official source. PrimeXBT supports multi-asset accounts allowing clients to buy, deposit, trade, and earn using cryptocurrencies including BTC, ETH, USDT, USDC, and USD. The platform is designed to accommodate traders with minimal initial investments according to their mobile app description. However, specific minimum deposit amounts for different account types or payment methods are not explicitly stated in the available documentation. Prospective traders should contact PrimeXBT's 24/7 customer support or check their account creation process for specific minimum deposit requirements.

Question 4

What leverage does PrimeXBT offer for trading?

FXScope Intelligence Lab · Accepted Answer

PrimeXBT offers significant leverage options for different trading instruments. The platform provides up to 1000X leverage for CFD trading and up to 200X leverage for both Crypto Futures and Crypto CFDs. Users can choose between isolated margin and cross margin trading modes. The platform also features advanced trading tools powered by TradingView, enabling traders to develop and execute personalized trading strategies. This high leverage capability makes PrimeXBT suitable for experienced traders seeking amplified market exposure, though it also carries increased risk that traders should carefully consider.

Question 5

Is PrimeXBT beginner-friendly?

FXScope Intelligence Lab · Accepted Answer

PrimeXBT offers a user-friendly environment with 24/7 multilingual customer support, making it accessible to traders of all experience levels. The platform features Copy Trading functionality, allowing beginners to automatically copy the trades of successful Strategy Providers, which can serve as a learning tool. The mobile app is described as intuitive and designed for ease of use, with real-time updates, market analysis, and comprehensive insights. However, PrimeXBT also offers sophisticated features like high leverage (up to 1000X) and advanced trading tools, which may be more suitable for experienced traders. The platform's multi-asset support (Crypto, Forex, Commodities, Indices) provides beginners with options to diversify their trading portfolio, though the high leverage options require careful consideration and risk management.

Question 6

Which countries are restricted from using PrimeXBT?

FXScope Intelligence Lab · Accepted Answer

PrimeXBT restricts access to users from numerous countries and regions. Restricted countries include the United States of America (US Reportable Persons), Japan, Canada, Cuba, Israel, Iran, New Zealand, Syria, North Korea, Sudan, United States Minor Outlying Islands, American Samoa, Russian Federation, Myanmar, Saint Lucia, Puerto Rico, Guam, U.S. Virgin Islands, and Northern Mariana Islands. Additionally, the platform does not serve users from unrecognized or partially recognized regions including Crimea, Donetsk People's Republic, Gaza Strip, Zaporizhzhia and Kherson, and Luhansk People's Republic. PrimeXBT emphasizes that clients should consult with legal and tax professionals in their region to confirm eligibility before utilizing the platform, as the company may request additional documentation to verify residency and may restrict accounts if false information is provided.

Question 7

What trading platforms and tools does PrimeXBT provide?

FXScope Intelligence Lab · Accepted Answer

PrimeXBT provides both web and mobile trading platforms with a comprehensive suite of tools. The platform features advanced trading tools powered by TradingView, enabling traders to develop and execute personalized strategies. Key offerings include Crypto Futures and CFDs for both cryptocurrency and traditional assets, Copy Trading functionality for automated trade replication, and access to over 100 assets across Crypto, Forex, Commodities, and Indices markets. The mobile application is described as robust and secure, with real-time updates, market analysis, and comprehensive insights. The platform supports multi-asset accounts allowing seamless management of diversified portfolios with support for BTC, ETH, USDT, USDC, and USD currencies. Additionally, PrimeXBT offers 24/7 customer support across multiple languages to assist traders worldwide.

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