PrimeXBT is a margin trading platform founded in 2018, offering a range of assets including cryptocurrency, forex, commodities and stock indices. It only supports margin trading of assets using CFDs, so you cannot use PrimeXBT to actually purchase any cryptocurrency. If you are interested in buying crypto, check out this article on the best crypto exchanges.

  • Web Address:
  • Deposit Methods: BTC, ETH, USDT, USDC, COV. (You can instantly buy BTC to fund account using SEPA/credit card – fee may apply.)
  • Deposit Fee: Free
  • Withdrawal Fee: No fiat withdrawals. Crypto withdrawal fee depends on coin.
  • Products Offered: Margin trading using CFDs (Cryptocurrencies, Forex, Commodities, Indices)
  • Cryptocurrencies: BTC, ETH, LTC, XRP and 40+ more
  • Trading Fee: Crypto: 0.05%, Forex & Metals: 0.001%, Gas, Oil & Indices: 0.01%
  • Mobile App: Yes

My Overall Thoughts on PrimeXBT

PrimeXBT is a great platform for a niche group – those that want to margin trade crypto, forex, commodities and stock indices using Bitcoin, Ethereum or a USD stable coin as the base currency. Here are the three best reasons to use PrimeXBT:

1) PrimeXBT offers CFD trading on 40+ cryptocurrencies, 50+ forex pairs, 11 stock indices, and commodities (gold, silver, oil and gas). The variety allows traders to diversify their portfolio with a range of assets, and the fact they have CFDs mean you can ‘go short’ on cryptocurrency which is not possible if you are buying the actual coin, as you do on most crypto trading platforms.

2) PrimeXBT is a margin trading platform, allowing users to trade positions that are larger than the amount they deposit, to magnify potential returns. The leverage varies depending on the asset you are trading, eg: 20x leverage for ADA/USD, 100x for BTC/USD and 1000x for GBP/USD. Please remember that margin trading is risky, and you risk complete loss of capital; only invest what you can afford to lose.

3) Copy Trading lets users passively trade by automatically following and executing the trades of successful traders. It enables investors to save time, as you don’t need to conduct fundamental or technical analysis. For new investors, it is particularly helpful, as it takes away any guesswork and possible mistakes made due to inexperience.

The main downside of PrimeXBT is that it is not suited to the majority of crypto investors. There is no spot trading – only margin trading with fixed leverage, and you cannot own the underlying asset. Also, you cannot deposit or withdraw fiat currency, and the platform only supports 40+ different coins. If you are interested in investing in cryptocurrency, a dedicated crypto exchange would be a good alternative to PrimeXBT.

Key Features & Advantages of PrimeXBT

There are a lot of outstanding features to be found on PrimeXBT. These are the top advantages that PrimeXBT has over other trading platforms.

Negatives and Disadvantages of PrimeXBT

PrimeXBT is not a suitable platform for everyone, and here are some of the reasons why. To find our more information about any of the points, click on the corresponding jump links below.

What Services does PrimeXBT offer?

PrimeXBT has many useful services that make it a popular margin trading platform in over 150 countries around the world. Let’s see what PrimeXBT offers its users.

Detailed user-interface perfect for experienced traders:  PrimeXBT is not built for beginners, which is great news for advanced crypto traders. The platform is filled with useful chart options that are not found on many beginner-friendly crypto-trading exchanges, so you can conduct your technical analysis. You can create market orders, limit orders, stop losses, take-profits, and OCO (one-cancels-the-other) orders.

Mobile app for iOS and Android:  PrimeXBT has developed an app for Android and iOS mobile devices so you can stay on track with your trades whenever and wherever you are. The app is easy to navigate, yet still has all the useful features, such as the full range of order types and detailed charts.

40+ different cryptocurrencies available:  PrimeXBT supports trading of 40+ different cryptocurrencies, including many of the most popular coins. Some available cryptocurrencies are BTC, ETH, LTC, XRP, EOS, ADA, DOT, SOL, UNI, LINK & DOGE.

Trade 50+ forex pairs, 11 stock indices, 5 commodities:  PrimeXBT is not limited to cryptocurrency trading, but also has markets for forex, stock indices and commodities. Some of the foreign currencies available are USD, EUR, GBP, AUD, CAD and CHF. The stock indices on PrimeXBT include S&P 500, NASDAQ 100, NIKKEI 225 and ASX 200. The 5 commodities that you can trade are Gold, Silver, Gas, Crude Oil and Brent Oil. This platform is great for traders that want to diversify their investments across a range of asset types.

Trade CFDs so you can go long or short:  When you trade on PrimeXBT, you are trading CFDs, which allow you to bet on the price dropping, because you do not own the underlying asset. For those that are unfamiliar with the term CFD, it is an abbreviation for ‘contract for difference’. It is a contract you have for paying the difference in value of an asset from the time of buying to the time of selling, or vice versa. This means you can ‘short’ cryptocurrency, (making profit when the price drops) which is not possible on a traditional crypto exchange.

Margin trading to magnify potential returns:  PrimeXBT is a margin trading platform, which means that each trade is leveraged. Basically, when you trade, you put in a small percentage of the full value of the trade, and the rest is provided by PrimeXBT. This means you can gain exposure to assets without typing up a lot of capital, and a small price movement in a desired direction will amplify your gains. However, you need to be careful, as a small price change in the opposite direction can mean a significant loss of capital.

Copy Trading – follow and execute the same trades as successful traders:  PrimeXBT has an innovative feature called Copy Trading, or Covesting that lets you track and copy the trades of successful traders. Even a newbie can profit if they copy the best traders, benefiting from their expertise, experience and strategies. It also saves a lot of time, as you don’t have to peruse different charts, conducting technical analysis, nor do you have to be constantly actively watching your portfolio.

It is free to start Copy Trading, but there will be a percentage of your profits taken as commission. Part of this goes to the trader you are following, and part of it goes to PrimeXBT. The amount that is taken depends on the value of your initial investment, as shown in the table below. If you are interested in Copy Trading without paying 25% – 40% of your profits as commission, you may want to try out eToro, a platform that offers free Copy Trading.

Invested amount

Your percentage



₿0.001 – ₿0.02




₿0.02 – ₿0.05




₿0.05 – ₿0.1




₿0.1 (max limit)




Profit Share – earn 20% commission if traders follow your trades:  If you are a successful trader, you can take advantage of PrimeXBT’s Copy Trading feature, by monetising your skills and earning a secondary income. You can earn 20% of the profits that your followers make, and the more followers you have, the more you earn. For experienced traders that have a lot of expertise and a profitable history, this is a great way to be rewarded for what you are already doing. eToro is another platform that allows successful traders to profit from having their trades copied. However, their rewards are paid by the platform (not taken from the followers) and are not as profitable as on PrimeXBT.

Responsive Live Chat support:  PrimeXBT has excellent customer service which is very valuable. They have a Help Centre, as well as email support and live chat support, so you can receive assistance 24/7. I tested out the Live Chat feature, and was talking to a real person in well under a minute. I did not have to deal with an automated bot before being passed on to a live agent. I was impressed with the speed of assistance, and the support agent was able to answer all of the questions I had.

What I Don’t Like About PrimeXBT

No spot trading – can only trade with a fixed leverage amount:  PrimeXBT is not suitable for investors that want to trade without leverage. The platform is built as a margin trading platform, so any trade you make have a fixed leverage amount. This is great for those that are looking to magnify price movements on their investments, but for those that are inexperienced with margin trading, it is very risky. You can lose a lot more of your capital margin trading than if you were to spot trade without any leverage.

Cannot deposit or withdraw fiat currencies:  A big downside of PrimeXBT is that you cannot deposit or withdraw fiat currencies. The platform is built for Bitcoin, Ethereum and USD stable coins, so you must deposit with one of those cryptocurrencies. If you don’t own any Bitcoin but you want to use PrimeXBT, there is an option to purchase Bitcoin immediately using a third-party payment provider with SEPA/credit card. However, you will not be able to withdraw any fiat currency from the platform.  

Only CFDs – you cannot own the underlying cryptocurrency:  PrimeXBT operates with CFDs only, so you are unable to own any cryptocurrency that you buy on the platform. Rather than purchasing the coins, you are essentially entering a contract where you pay the difference between the price of the crypto when you buy and when you sell. You can still make money based on the price rise of a cryptocurrency, but remember that you don’t own any actual digital assets on PrimeXBT.

Not available in some countries, eg: USA, Canada, France, Japan, Israel:  PrimeXBT is not available in every country, so you will need to check if you are able to use it before you sign up. Some key countries where you cannot use the platform is the USA, Canada, France, Japan and Israel.

PrimeXBT Fees

PrimeXBT Deposit Fees

There are 0% deposit fees for cryptocurrency.

You cannot deposit fiat currency into the platform, but if you want to purchase Bitcoin to directly fund your PrimeXBT account, you can do so via their third-party payment providers, who may charge a fee.

PrimeXBT Trading Fees

The trading fees on PrimeXBT vary depending on the type of asset, as follows.

Cryptocurrency: 0.05%

Forex & Metals: 0.001%

Stock Indices: 0.01%

Gas and Oil: 

PrimeXBT Covesting (Copy Trading) Fees

If you want to use the Covesting (also known as Copy Trading) feature, it is free to set up, but a commission is taken on your profits. 20% of the profits goes to the trader that you are following, and another percentage goes to PrimeXBT, which varies depending on how much your initial investment is. You can see the commission in the table below.

Invested amount

Your percentage



₿0.001 – ₿0.02




₿0.02 – ₿0.05




₿0.05 – ₿0.1




₿0.1 (max limit)




The trading fees when you Covest are different to the regular trading fees. These fees are progressive, meaning they increase as the Followers’ Equity grows. This is the combined equity of all the followers of a specific trader. You can read here to understand why PrimeXBT charges progressive fees. This table shows the trade fees on Covesting for different instruments.

Followers’ Equity (BTC)

Followers’ Equity (ETH)

Followers’ Equity (USDT/USDC)

Trade Fee, Crypto

Trade Fee, FX & Metals

Trade Fees, Indices, Gas & Oil

1 or less

25 or less

50 000 or less




1 – 5


250 000




5 – 10


500 000




10 – 15


750 000




15 – 20


1 million




20 – 40


2 million




40 – 60


3 million




60 – 80


4 million




80 – 110


5.5 million




110 or more


11.5 million




PrimeXBT Withdrawal Fees

PrimeXBT does not support withdrawals of fiat currencies.

For cryptocurrency withdrawals, there is a flat fee incurred, depending on the coin, as shown in the table below.

Cryptocurrency Withdrawal Fees


Flat Fee


0.0005 BTC


0.01 ETH







Pros and Cons of PrimeXBT

  • 40+ cryptocurrencies, 50+ forex pairs, 11 stock indices, 5 commodities
  • Covesting to copy every trade of successful investors
  • Live Chat support available
  • Mobile app for iOS and Android
  • CFD trading so you can go long or short on cryptocurrency
  • Cannot deposit or withdraw fiat currencies
  • Margin trading only – fixed leverage amounts
  • Only CFDs offered – cannot own cryptocurrency
  • Not supported in USA, Canada, France, Japan, Israel


PrimeXBT is a fantastic platform for margin traders that want to trade cryptocurrency, forex, commodities and stock indices, using Bitcoin, Ethereum or a USD stable coin as the base currency. It has Copy Trading, low trading fees, a range of investment instruments, and leverage up to 1000x (dependent on the asset). However, PrimeXBT is not suitable for everyone. There is no spot trading available, you can only trade with a fixed leverage, and the trades are all CFDs, so you do not own any cryptocurrency on PrimeXBT. Also, you cannot withdraw or deposit fiat currencies on this platform. If you are looking for a similar trading platform, Bybit is another great choice, with Spot Trading as well as derivatives, perpetuals and futures trading.

If you are after a crypto exchange where you can purchase the actual cryptocurrency, and you can deposit and withdraw fiat currency, have a look at the article on the best crypto exchanges.