PrimeXBT review (1)

 

Overall, PrimeXBT can be summarised as a trustworthy Forex Broker that offers access to a comprehensive range of over 110 trading assets and excellent customer support. PrimeXBT is a popular broker choice offering a seamless trading experience.  PrimeXBT has a trust score of 75 out of 99.

 

🔎 Order Execution4/5
💴 Commissions and Fees4/5
📈 Range of Markets3/5
📉 Variety of Markets3/5
📊 Withdrawal Speed4/5
🥰 Customer Support4/5
🖥️ Trading Platform4/5
🖍️ Education4/5
🗂️ Research4/5
📝 Regulation3/5
📲 Mobile Trading4/5
💯 Trust Score75%
🚀 Open an Account👉 Click Here

 

Overall Rating

Min Deposit

0.001 BTC (44 USD – 38,600 NGN)

Regulators

Not Regulated

Trading Platform

Proprietary Platform

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

PrimeXBT Review – Analysis of Brokers’ Main Features

 

  1. ☑️ PrimeXBT Overview
  2. ☑️ PrimeXBT Detailed Summary
  3. ☑️ PrimeXBT – Advantages Over Competitors
  4. ☑️ Who will Benefit from Trading with PrimeXBT?
  5. ☑️ PrimeXBT Safety and Security
  6. ☑️ PrimeXBT Awards and Recognition
  7. ☑️ PrimeXBT Bonus Offers and Promotions
  8. ☑️ PrimeXBT Affiliate Program
  9. ☑️ PrimeXBT Minimum Deposit
  10. ☑️ PrimeXBT Account Types and Features
  11. ☑️ How to Open and Close a PrimeXBT Account
  12. ☑️ PrimeXBT Base Account Currencies
  13. ☑️ Social Trading with PrimeXBT
  14. ☑️ PrimeXBT Trading Platforms
  15. ☑️ Which Markets Can You Trade with PrimeXBT?
  16. ☑️ PrimeXBT Fees, Spreads, and Commissions
  17. ☑️ PrimeXBT Deposits and Withdrawals
  18. ☑️ PrimeXBT Education and Research
  19. ☑️ PrimeXBT Customer Support
  20. ☑️ PrimeXBT Cashback Rebates Features and Conditions
  21. ☑️ PrimeXBT Geographic Reach and Limitations
  22. ☑️ PrimeXBT vs XS.com vs FXView – A Comparison
  23. ☑️ PrimeXBT Alternatives
  24. ☑️ Our Experience with PrimeXBT
  25. ☑️ Recommendations according to our in-depth review of PrimeXBT
  26. ☑️ PrimeXBT Customer Reviews
  27. ☑️ PrimeXBT Pros and Cons
  28. ☑️ In Conclusion
  29. ☑️ Frequently Asked Questions

 

 

PrimeXBT Overview

 

Founded in 2018, PrimeXBT has established itself as a popular trading platform among Nigerian traders.

Its comprehensive range of over 110 trading assets showcases its dedication to providing diverse investment options. It particularly appeals to Nigerian traders known for their keen interest in various financial products.

The vast selection offered by PrimeXBT would undoubtedly prove valuable for these astute investors.

For Nigerian traders seeking reliable platforms that can handle large trading volumes with efficiency, PrimeXBT offers a seamless experience. With an average daily trading volume exceeding $1 billion and access to over 12 liquidity providers, it is well-equipped for this task.

Additionally, the company’s technology infrastructure leverages Amazon AWS to provide industry-leading functionality in its fast order execution, which takes less than 7.12 milliseconds on average while maintaining reliability and stability of performance thanks to cutting-edge trading engine features.

In Nigeria’s unstable market, traders can rely on PrimeXBT’s robust platform engineered to handle heavy loads and frequent orders. Its superior efficiency is particularly advantageous in a high-stakes environment where timing and accuracy are paramount.

Additionally, the straightforward registration process and rapid trading options make it highly attractive for Nigerian traders regardless of their skill level.

 

PrimeXBT Overview

 

PrimeXBT Detailed Summary

 

🔎 HeadquarteredMarshall Islands, Seychelles
🌎 Global OfficesMarshall Islands, Seychelles
📈 Local Market Regulators in NigeriaCentral Bank of Nigeria (CBN)
📉 Foreign Direct Investment in Nigeria200 million USD (2023)
📊 Foreign Exchange Reserves in Nigeria32.98 billion USD (August 2023)
💹 Governor of SEC in NigeriaLamido Yuguda (Director-General of SEC)
🤝 Accepts Nigeria Traders✅Yes
📌 Year Founded2018
📍 Social Media PlatformsTelegram
Facebook
Instagram
X
YouTube
Reddit
Discord
↪️ RegulationRegistered in Seychelles and Marshall Islands
🆓 Demo Account✅ Yes, through trading contests
⏰ Demo DurationDepends on the contest terms
1️⃣ Retail Investor Accounts1
🫶 Affiliate Program✅Yes
💻 Order ExecutionInstant
🖱️ One-Click Trading✅Yes
📈 Scalping✅Yes
📉 Hedging✅Yes
📊 News Trading✅Yes
💹 Starting spreadFrom 0.05%
💱 Minimum Commission per TradeNone, charges maker and taker fees on crypto from 0.01% – 0.075%
📌 Decimal Pricing5th Decimal after the comma
📍 Margin CallFlexible
⛔ Stop-OutFlexible
➖ Minimum Trade Size0.01 lots
➕ Maximum Trade SizeFlexible
🪙 Crypto trading offered✅Yes
🅰️ Maximum Leverage1:1000
🅱️ Leverage Restrictions for NigeriaPer the instrument
💴 Minimum Deposit (NGN)0.001 BTC (44 USD – 38,600 NGN)
💵 Deposit CurrenciesBTC, ETH, USDT, USDC, COV, USD
💶 Account Base CurrencyBTC, ETH, USDT, USDC, COV
👤 Active Nigeria Trader Stats300,000+
🔁 Nigeria Daily Forex Turnover10 – 15 billion USD
💳 Deposit and Withdrawal OptionsDirect Crypto
MetaMask Wallet
AdvCash
Perfect Money
Bank Card (Crypto Purchase)
⏰ Minimum Withdrawal TimeInstant
⏱️ Maximum Estimated Withdrawal TimeDepends on the payment method – a few minutes to 48 hours
⏲️ Instant Deposits and Instant Withdrawals✅Yes
🖱️ Trading PlatformsPrimeXBT
🍎 Tradable AssetsCryptocurrencies
Indices
Forex
Commodities
😮‍💨 Languages supported on the WebsiteEnglish, Spanish, Turkish, Chinese, Japanese, Korean, Thai, Portuguese, Hindi, Indonesian, Vietnamese, Bengali
💨 Customer Support LanguagesMultilingual
©️ Copy Trading Support✅Yes
⌚ Customer Service Hours24/7
🎁 Bonuses and Promotions for Nigeria Traders✅Yes
🖍️ Education for Nigerian beginners✅Yes
💹 Proprietary trading software✅Yes
😎 Most Successful Trader in NigeriaDapo Willis (Net worth – $10 million)
💟 Is PrimeXBT a safe broker for Nigerian Traders✅Yes
7️⃣ Rating for PrimeXBT Nigeria7/10
💯 Trust score for PrimeXBT Nigeria75%

 

PrimeXBT Detailed Summary

 

PrimeXBT – Advantages Over Competitors

 

PrimeXBT has the following advantages over Competitors:

 

  • ✅ PrimeXBT’s 24/7 customer care rapidly addresses Nigerian traders’ requirements and problems, improving the overall trading experience.
  • ✅ With an average daily trading volume of over $1 billion, PrimeXBT provides ample liquidity, lowering the risk of slippage for Nigerian traders.
  • ✅ The platform’s relationships with over 12 liquidity providers ensure seamless pricing and stable liquidity, critical in the fast-paced Nigerian trading industry.
  • ✅ PrimeXBT provides Nigerian traders with a comprehensive range of over 110 trading assets to suit their investment tastes and methods.
  • ✅ The company’s commitment to putting clients’ interests first coincides with Nigerian traders’ expectations of a trustworthy trading partner.
  • ✅ PrimeXBT’s constant investment in R&D ensures Nigerian traders access to the most recent and innovative trading tools and features.
  • ✅ The platform lets traders of various skill levels customize layouts and widgets, providing a personalized trading experience tailored to Nigerian traders’ unique styles.
  • ✅ PrimeXBT’s emphasis on security, including industry-leading trade engines and real-time risk monitoring, provides Nigerian traders with a secure trading environment.
  • ✅ PrimeXBT was founded in 2018 and has rapidly expanded to service clients in over 150 countries, demonstrating a solid, increasing worldwide footprint that instills confidence in Nigerian traders.
  • ✅ PrimeXBT’s infrastructure, backed by Amazon AWS, offers Nigerian traders a secure and robust trading environment capable of handling large order volumes and extreme loads.

 

 

With order execution times averaging less than 7.12 milliseconds, Nigerian traders benefit from timely and efficient trade executions, which are critical in volatile markets.

 

PrimeXBT - Advantages Over Competitors

 

Who will Benefit from Trading with PrimeXBT?

 

As cryptocurrencies gain popularity in Nigeria, anyone interested in trading digital assets can benefit from PrimeXBT’s offers. The platform’s diverse trading assets, including several cryptocurrencies, are ideally suited to the objectives of this group. Furthermore:

 

  • ✅ Seasoned traders in Nigeria who need a platform that can handle high-volume, high-frequency trading will find PrimeXBT very useful. The platform’s ultra-fast order execution and access to numerous liquidity sources allow these traders to operate efficiently even in tumultuous market situations.
  • ✅ Nigerian traders who appreciate customer service and constant help will benefit from PrimeXBT’s commitment to 24-hour customer service. This is especially helpful for traders who may experience problems or have questions outside normal business hours.
  • ✅ PrimeXBT’s superior infrastructure, backed by Amazon AWS, will appeal to traders prioritizing technological efficiency and security. This is particularly crucial for traders who use algorithmic or high-frequency trading tactics.
  • ✅ PrimeXBT’s global presence will benefit traders looking to participate in global marketplaces. The platform’s operations in over 150 countries give Nigerian traders access to international marketplaces and trading tactics.
  • ✅ Nigerian traders seeking diverse trading opportunities can profit from PrimeXBT’s large variety of over 110 trading assets. This range enables diversification of investment portfolios, which is critical for traders wanting to disperse risk across asset classes.
  • ✅ The platform’s emphasis on security and real-time risk management makes it an excellent alternative for traders concerned about their money’s security. This is especially important in a market like Nigeria, where digital security is increasingly concerned.

 

 

Finally, new traders in Nigeria seeking a platform with educational resources, user-friendly interfaces, and customizable layouts will find PrimeXBT to be an ideal place to learn and grow.

 

 

Does PrimeXBT offer 24/7 customer service, and how does this compare to competitors?

Yes, PrimeXBT offers 24/7 customer support, allowing traders to seek assistance at any time, which gives it an advantage over platforms with limited support hours.

 

How does PrimeXBT ensure the reliability of trades in volatile markets?

PrimeXBT’s technology is designed to manage high volume and frequent orders, improving efficiency during market turbulence.

 

Who will Benefit from Trading with PrimeXBT

 

PrimeXBT Safety and Security

 

PrimeXBT is not currently regulated by the Central Bank of Nigeria (CBN). However, PrimeXBT global registrations are listed in the table below.

 

PrimeXBT Protection of Client Funds

 

🔎 Security Measure↪️ Information
🔒 Segregated Accounts✅Yes
🔏 Compensation Fund MemberNone
🔐 Compensation AmountNone
🗝️ SSL Certificate✅Yes
🔒 2FA (Where Applicable)✅Yes
🔏 Privacy Policy in Place✅Yes
🔐 Risk Warning Provided✅Yes
🗝️ Negative Balance Protection✅Yes
🔒 Guaranteed Stop-Loss OrdersNone

 

PrimeXBT Security while Trading

 

With its comprehensive focus on safeguarding customer assets and advanced trading infrastructure, PrimeXBT is a trusted platform in Nigeria for secure trading. Security is paramount in the Nigerian digital marketplace, where data security and fund protection are critical concerns.

PrimeXBT’s security measures are based on a comprehensive cybersecurity framework, guaranteeing the utmost protection of customer assets through regular stress testing and strict security audits that adhere to the highest standards.

Taking preventive actions like these is imperative for Nigerian traders who wish to safeguard their investments against multiple cyber risks and vulnerabilities.  To enhance user account security and thwart unauthorized access, PrimeXBT employs a range of cutting-edge security techniques and protocols.

Among these is the utilization of Google Authenticator’s Two-Factor Authentication (2FA) feature, which plays an instrumental role in preventing unapproved entry into users’ accounts.

To ensure high-security standards, the platform mandates Bitcoin address safe listing and utilizing cold storage for digital assets. Additionally, multi-signature technology and hardware security modules with top-notch security ratings are employed.

HTTPS-enabled SSL secures website traffic while all sensitive data, such as passwords, is shielded from harm’s way to bolster safety measures further. Moreover, Cloudflare is a deterrent to distributed denial-of-service (DDoS) attacks by providing an extra layer of protection.

The trading system offered by PrimeXBT is tailored to meet the most stringent online trading industry norms.  The platform’s powerful trading engine is built with special features that eliminate latency and enhance order execution speed, leading to higher productivity for traders while bolstering security measures.

A thorough risk assessment procedure ensues after every buy or sell trade on this platform, where all potential risks associated with trade activity are extensively monitored.  A comprehensive approach towards managing risks makes it essential for Nigerian traders who desire reliable protection of their transactions and capital when using an exchange service provider.

PrimeXBT emphasizes wallet security, with offline cold storage being the preferred method for storing most digital assets. This approach significantly minimizes internet-related threats prevalent in today’s technological landscape.

Additionally, utilizing multi-signature access enhances redundancy and security while eliminating potential weaknesses due to single points of failure within the system.

This aspect is especially vital for Nigerian traders who seek guarantees that their valuable digital holdings remain safe from cyber theft or breaches online.

 

Pros and Cons – PrimeXBT Regulation and Safety of Funds

 

✅ Pros❎ Cons
PrimeXBT is a registered entity in Seychelles and the Marshall IslandsPrimeXBT is not regulated in Nigeria and does not hold regulations with international entities like ASIC, CySEC, FCA, etc.

 

 

How does PrimeXBT protect client funds?

PrimeXBT secures client funds using segregated accounts and a thorough cybersecurity infrastructure.

 

Are client funds in PrimeXBT accounts insured?

No, PrimeXBT does not insure funds.

 

PrimeXBT Safety and Security

 

PrimeXBT Awards and Recognition

 

PrimeXBT received the following recent awards and recognition:

 

 

and many more!

 

PrimeXBT Awards and Recognition

 

PrimeXBT Bonus Offers and Promotions

 

PrimeXBT offers Nigerian traders the following bonuses and promotions:

 

  • ✅ Welcome Bonus
  • ✅ Easy Start, Trade & Earn, Whale Trader
  • ✅ Referral Bonus
  • ✅ Contests and Leaderboard Challenges

 

 

Welcome Bonus

 

Nigerians who start their PrimeXBT journey can receive a generous Welcome Bonus. Upon opening an account and depositing within 48 hours, you will qualify for a bonus based on your initial investment.

Depositing as little as 0.001 BTC earns a $5 reward, with larger investments unlocking greater incentives – such as receiving a $25 bonus when investing $1,000 or even claiming the massive $500 bonus for deposits totaling at least $3,000.

It is important to note that these bonuses come as “fixed tradable.” These increase your trading capital while giving you more opportunities to study and enhance your abilities through training sessions.

 

Easy Start, Trade & Earn, Whale Trader

 

PrimeXBT offers a Welcome Bonus and encourages active trading through its tiered reward system.

Upon reaching a trading volume of $1,000, the Easy Start tier will grant you a $5 incentive to help kickstart your trading journey. The Trade & Earn tier ensures greater rewards as it provides a bonus of $25 when one has achieved trades worth up to $100,000 in value.

Lastly, for those who can execute large volumes on their trades up to USD 3 million, PrimeXBT’s Whale Trader category guarantees an enticing earning: receiving credit bonuses equivalent to $500.

However, traders must understand these incentives act solely as supplementary assistance and do not function like guaranteed earnings themselves while they follow this investment path.

 

Referral Bonus

 

PrimeXBT acknowledges and incentivizes your social interaction. By inviting three acquaintances to join the platform and monitoring their initial deposits, you and everyone involved qualify for a $25 reward.

This collaborative approach enhances your connections and offers an opportunity to earn extra funds while indulging in exhilarating trading ventures.

 

Contests and Leaderboard Challenges

 

PrimeXBT often offers captivating trading competitions featuring enticing rewards based on cryptocurrency.  One recent tournament, “King of Crypto,” prompts traders to strive for the leaderboard’s top position.

Engaging in such events as a Nigerian trader allows you to refine your trading competence, vie for substantial pay-outs via cryptocurrencies, and spice up your usual routine with competitive enthusiasm.

 

 

How do I qualify for the welcome bonus on PrimeXBT?

To qualify for PrimeXBT’s welcome bonus, you must create an account and deposit within a certain time frame.

 

What are the conditions for PrimeXBT’s promotional rewards?

Conditions for PrimeXBT’s promotional prizes vary and involve meeting specified trading volumes or participating in platform activities.

 

PrimeXBT Bonus Offers and Promotions

 

PrimeXBT Affiliate Program

 

PrimeXBT’s affiliate program provides tempting features for Nigerian affiliates looking to earn competitive income by promoting the platform through their networks. Furthermore:

 

  • ✅ Affiliates can choose between two revenue models: cost-per-acquisition (CPA) and revenue share. CPA pays a predetermined payment (up to $1500 per referred client) for successful sign-up and deposit. Revenue Share gives affiliates a share of the suggested client’s trading volume, which could lead to long-term income streams.
  • ✅ PrimeXBT affiliates can easily connect with other affiliates, discuss best practices, and get rapid help when required.
  • ✅ Affiliates can choose their preferred pay-out method (Bitcoin, Ethereum, or Tether) and receive their commissions quickly and securely.
  • ✅ PrimeXBT involves its affiliates by providing frequent program updates, exclusive promos, and thrilling contests. This allows affiliates to stay ahead of the curve and increase their earning potential with these efforts.
  • ✅ The dedicated Affiliate Dashboard delivers real-time information about the affiliate campaign’s performance. Comprehensive analytics allow affiliates to track clicks, conversions, earnings, and individual referrals.
  • ✅ Affiliates can discover a plethora of ready-made marketing products. These materials cover a wide range of marketing platforms, from elegant banners and eye-catching creatives to instructive webinars and blog articles, and can assist affiliates in creating tailored campaigns for a Nigerian audience.

 

 

Finally, PrimeXBT has a well-established global network and a committed affiliate support team.

 

How to open an Affiliate Account with PrimeXBT

 

To register an Affiliate Account, Nigerian traders can follow these steps:

 

  • ✅ Visit the special PrimeXBT Affiliate Program page at https://affiliate.primexbt.com/. This page offers an overview of the program, including its benefits and eligibility conditions.
  • ✅ If you have not previously done so, click “Join Now” and create a PrimeXBT account.
  • ✅ Once logged in, go to the “My Profile” area and click “Become an Affiliate.” This opens the affiliate application form. Complete it by filling in the required fields, including your personal information, desired marketing channels (website, social media, etc.), and preferred payment method (Bitcoin, etc.).
  • ✅ Please read and understand the Affiliate Agreement outlining your responsibilities and commissions. Once done, tick the agreement box and submit your application.
  • ✅ The PrimeXBT staff will review your application within 24 to 48 hours. You will receive an email notification once your application is approved or declined.
  • ✅ Once approved, you will obtain access to your unique Affiliate Dashboard. Here, you will find your unique referral link, marketing materials (banners and creatives), performance tracking statistics, and reward history.
  • ✅ Start developing your affiliate plan! Use your preferred marketing platforms to spread the news about PrimeXBT in Nigeria. Share your referral link on your website’s social networking sites, or write useful articles about the platform’s features and benefits for Nigerian traders.
  • ✅ You will receive a handsome commission for each successful referral who registers and deposits funds through your unique link. The commission rate is determined by your chosen commission plan (CPA or Revenue Share) and the referred user’s trading volume.
  • ✅ Monitor your Affiliate Dashboard regularly to keep track of your referrals, commission earnings, and overall campaign performance. Analyze your results and change your strategy to increase your reach and affiliate revenue.

 

 

PrimeXBT supports its affiliates by sending them regular updates, promotional materials, and instructional tools. Keep up with the latest advancements and program adjustments to ensure effective affiliate efforts.

 

Are there any fees to join the PrimeXBT Affiliate Program?

No, joining the PrimeXBT Affiliate Program is free of charge.

 

How long does it take to get approved for a PrimeXBT Affiliate Account?

The approval process for a PrimeXBT Affiliate Account usually takes 24-48 hours after you submit your application.

 

Are PrimeXBT Affiliate Program commissions paid out in cryptocurrency?

Yes, commissions are paid in cryptocurrency, such as Bitcoin, which can be withdrawn or utilized for trading.

 

Can affiliates earn commissions from sub-affiliates on PrimeXBT?

Yes, PrimeXBT allows affiliates to earn additional income based on the activity of the sub-affiliates they suggest.

 

 

PrimeXBT Affiliate Program Features

PrimeXBT Minimum Deposit

🔎 Live Account💶 Minimum Dep.
🥇 Standard/Live Account0.001 BTC (44 USD) / 38,600 NGN

Can Nigerian traders make deposits in NGN on PrimeXBT?

No, NGN deposits are not directly supported by PrimeXBT; traders must utilize supported cryptocurrencies or USD.

Can I start trading immediately after making the minimum deposit on PrimeXBT?

Yes, after your 0.001 BTC deposit is validated, you can begin trading instantly on PrimeXBT.

PrimeXBT Minimum Deposit

 

PrimeXBT Account Types and Features

 

🔎 Live Account💴 Minimum Dep.📈 Average Spread📉 Commissions📊 Average Trading Cost
🥇 Standard/Live0.001 BTC0.05%NoneVariable, competitive

 

PrimeXBT Live Account

 

The PrimeXBT trading account provides intriguing features for novice and expert traders. A crucial feature is its low entrance threshold, which requires only 0.001 Bitcoin (BTC), making it easily accessible.

Furthermore, the account offers considerable leverage, up to 1:1000 on Forex and 1:100 on specific instruments such as Bitcoin/USD. While this can dramatically improve profits, it also increases risk, so traders should use leverage cautiously.

PrimeXBT offers reasonable spreads and fees. Major forex pairs frequently have tight spreads of around 0.05%, even lower for some cryptocurrency pairs.

The platform’s pricing structure is balanced, with a 0.05% maker fee and a 0.075% taker cost for margin trading. Importantly, supplementary expenses such as inactivity and withdrawal fees are kept to a minimum, allowing traders to maximize their money usage.

Another advantage of the site is its broad range of trading instruments. Traders can access various assets, including cryptocurrencies, Forex pairings, major stock indices such as the S&P 500, and commodities like gold and oil.

 

🅰️ Feature🅱️ Description
💴 Minimum DepositAccessible entry with a minimum requirement of 0.001 BTC
📈 LeverageOffers up to 100:1 leverage on instruments like Bitcoin/USD, amplifying potential profits and risks
📉 Spreads and FeesCompetitive spreads around 0.05% for major forex pairs and low for crypto crosses; 0.05% maker fee and 0.075% taker fee for margin trading
📊 Trading InstrumentsBroad range including cryptocurrencies, forex pairs, stock indices like the S&P 500, and commodities
💹 Platform and ToolsUser-friendly interface with advanced charting tools, technical indicators, and essential order types; supports margin and copy trading
🎁 Contests and RewardsRegular trading competitions with crypto-based prizes, leaderboard challenges, and referral programs

 

PrimeXBT Live Account

PrimeXBT Demo Account

 

PrimeXBT provides an unconventional approach to demo accounts with its trading contests, which offer a risk-free opportunity for practice. Upon entering the contest, participants receive access to a pre-funded virtual account resembling real-life conditions and can sharpen their skills through trial trades.

Participating in these competitions offers a twofold benefit. Initially, users can familiarize themselves with the platform and test different trading approaches without putting actual funds at stake.

Additionally, contenders have an opportunity to win concrete rewards if they climb up the rankings of the leaderboard. Therefore, it creates a mutually advantageous situation where users gain valuable experience while potentially receiving cryptocurrency prizes.

 

Pros and Cons – PrimeXBT Account Types and Features

 

✅ Pros❎ Cons
PrimeXBT’s live account suits all types of traders despite their trading experienceThere is only one live account offered
There is a free demo account offered with PrimeXBT’s contestsNigerians cannot register an NGN-denominated account

 

Are Islamic accounts available for traders on PrimeXBT?

No, PrimeXBT does not provide Islamic accounts.

 

What base currencies are available for PrimeXBT accounts?

The base account currencies on PrimeXBT are BTC, ETH, USDT, USDC, and COV.

 

PrimeXBT Demo Account

 

How to Open and Close a PrimeXBT Account

 

To open an account with PrimeXBT, Nigerians can follow these steps:

 

  • ✅ Begin by visiting the PrimeXBT website. Search for the register option on the homepage.
  • ✅ To access the registration form, click the link. Enter your email address and create a password. Make sure your password is strong for better account security.
  • ✅ After submitting the form, PrimeXBT will send a verification link to your supplied email address. Open your email, locate the PrimeXBT email, and click the link to activate your account.
  • ✅ After verifying your email address, log in to your PrimeXBT account with your new credentials.
  • ✅ On your account dashboard, choose the currency for your trading transactions. PrimeXBT does not directly support the Nigerian Naira (NGN) but accepts various major currencies and cryptocurrencies.
  • ✅ Go to the ‘Deposit’ area of your account. Here, you have several options for funding your account. You can deposit Bitcoin (BTC) or use alternate ways such as ADVCash or Perfect Money. These solutions can benefit you if you do not want to utilize Bitcoin directly.
  • ✅ When you deposit Bitcoin, the BTC will be transferred from your external wallet to your PrimeXBT wallet. Follow the platform-specific procedures for transferring funds from your ADVCash or Perfect Money account to your PrimeXBT account.
  • ✅ To finalize your deposit, follow the on-screen steps. This includes validating the transaction and ensuring the monies are safely sent to your PrimeXBT account.

 

 

You can begin trading once your deposit has been processed and funds are available in your PrimeXBT account.

 

How to Close a PrimeXBT Account

 

To close a live trading account with PrimeXBT, Nigerian traders can follow these steps:

 

  • ✅ Begin by logging into your PrimeXBT account with your usual credentials. Ensure you have access to the email address linked with your PrimeXBT account since it may be needed during the process.
  • ✅ Before proceeding with account termination, be sure that any open trading positions are closed. This is important because you cannot close an account with current trades.
  • ✅ Proceed to the ‘Wallet’ area of your account and initiate the withdrawal of any remaining monies. If you used an alternative deposit method such as ADVCash or Perfect Money, you may be able to withdraw in Bitcoin or the equivalent currency. Follow the withdrawal instructions and transfer the funds to a secure external wallet or account.
  • ✅ Once all money has been removed, please contact PrimeXBT’s customer service team. You can contact us by email or through the website’s support section. Inform them that you want to close your account. Be straightforward and concise in your communications.
  • ✅ Customer service may require you to verify your identity for security reasons. This process may include answering security questions or giving identity documents. It is a regular practice to avoid unauthorized account closures.
  • ✅ The support team will provide explicit information on how to complete the account termination. Carefully follow the instructions below. This could include filling out a form or verifying your request over a secure link.
  • ✅ After following the instructions provided by customer service, you should receive confirmation that your account is being closed. Ensure you receive this confirmation to check that your closure request was correctly registered.
  • ✅ Check your email and PrimeXBT account to ensure all necessary procedures are performed. The support team may also ask for feedback on why you are terminating your account; this is optional but can help them improve their service.

 

 

Wait for a final confirmation email from PrimeXBT informing you that your account has been closed. This email informs you that your account is no longer active, and all relationships with PrimeXBT have been severed.

 

What information do I need to provide to open a PrimeXBT account?

To create a PrimeXBT account, you must give a valid email address and a secure password.

 

How do I verify my PrimeXBT account after registration?

Verify your PrimeXBT account by clicking on the verification link given to the email address you used to register.

 

Do I need to withdraw my funds before closing my PrimeXBT account?

Yes, before requesting account closure on PrimeXBT, withdraw all funds and close any open positions.

 

Can I reopen my PrimeXBT account after closing it?

Yes, it could be possible to reopen a closed account, but you must first contact PrimeXBT customer service.

 

How to Open and Close a PrimeXBT Account

 

 

Overall Rating

Min Deposit

0.001 BTC (44 USD – 38,600 NGN)

Regulators

Not Regulated

Trading Platform

Proprietary Platform

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

 

PrimeXBT Base Account Currencies

 

The base account currencies available to Nigerians include the following:

 

  • ✅ BTC
  • ✅ ETH
  • ✅ USDT
  • ✅ USDC
  • ✅ COV

 

 

PrimeXBT Basic Order Types include:

 

  • ✅ A market order can be either a buy or a sell order that executes at the current market price. This is the current price displayed on your price chart. If you place a market order, you will be immediately entered at the best available price.
  • ✅ Market orders are most effective when a trading opportunity requires prompt action. Click buy/sell at the market to enter the trade immediately.
  • ✅ A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
  • ✅ This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.

 

 

Alternatively, if you believe the price will reverse when it reaches a certain price, you can place a limit order.

 

PrimeXBT Base Account Currencies and Basic Order Types

 

Social Trading with PrimeXBT

 

The Covesting Copy-trading Module by PrimeXBT is a ground-breaking trading tool explicitly tailored for Nigerian traders struggling to maneuver through the intricacies of various markets.  With this program, traders can replicate the successful strategies of exemplary professionals in their field, enabling them to conduct lucrative trades effortlessly.

Nigerian traders can peruse various trading strategies and select one that aligns with their preferences. This supplies a distinct framework for making informed decisions.

After settling on a plan, traders may determine how much capital they wish to allocate toward its execution, granting them authority over risk management per their investment goals and level of comfortability.

Traders can enjoy varying trading approaches by automatically imitating the chosen trader’s actions once they press “follow.”

The Copy-trading feature on Covesting also enables traders to engage a wide range of people as they compete in an open and honest atmosphere. Proficient traders get rewarded for their competence through success fees earned from their followers, encouraging masterful tradesmanship.

Nigerian traders find the platform highly effective, thanks to its user-friendly interface and capacity to trade over 50 diverse assets.

With only a few minutes invested in setting up or adopting an existing strategy, they can easily execute trades on the platform. Reliability is crucial for many traders, prioritizing strong returns and maximum security.

 

 

How can I start copy trading on PrimeXBT?

To begin copy trading on PrimeXBT, select a strategy from the Covesting module and allocate the appropriate funds.

 

Is it possible to stop copy trading or change strategies on PrimeXBT?

Yes, you can discontinue duplicate trading or change strategies at any moment on PrimeXBT.

 

 

Social Trading with PrimeXBT

 

PrimeXBT Trading Platforms

 

PrimeXBT’s trading platform is designed to meet the diverse needs of Nigerian traders, from novices to seasoned market participants.

Its comprehensive features cater to everyone in the industry. One outstanding feature that sets PrimeXBT apart is its user-friendly interface, simplifying navigation and improving usability even for beginners.

This ease-of-use factor greatly supports Nigeria’s growing interest in trading as it accommodates varying levels of experience among users within this dynamic marketplace. Another valuable feature of the platform is its ability to generate robust graphs.

This enables Nigerian traders to conduct extensive market analysis using advanced charting tools and many technical indicators, essential in making well-informed trading decisions amidst fluctuations within unpredictable markets such as forex and cryptocurrency.

These techniques are particularly advantageous for traders operating in Nigeria due to their frequent need to navigate sudden shifts and efficiently interpret patterns involved with these volatile assets.

 

Pros and Cons – PrimeXBT Trading Platforms

 

✅ Pros❎ Cons
PrimeXBT’s platform is user-friendlyPrimeXBT does not offer MetaTrader 4 or 5

 

 

What are the technical analysis tools available on PrimeXBT’s platform?

PrimeXBT’s platform includes extensive charting tools, technical indicators, and graphical objects for in-depth technical research.

 

Can I use MetaTrader platforms with PrimeXBT?

No, PrimeXBT does not support MetaTrader 4 or 5, only its trading platform.

 

 

PrimeXBT Trading Platforms

 

Which Markets Can You Trade with PrimeXBT?

 

Nigerian traders can expect the following range of markets from PrimeXBT:

 

  • ✅ Cryptocurrency
  • ✅ Forex
  • ✅ Commodities
  • ✅ Indices

 

 

Financial Instruments and Leverage offered by PrimeXBT

 

🔎 Instrument🔢 Number of Assets Offered📊 Max Leverage Offered
🪙 Cryptocurrency411:100
📈 Forex511:1000
🍎 Commodities101:100
📉 Indices111:100

 

Broker Comparison for a Range of Markets

 

🔎 Broker🥇 PrimeXBT🥈 XS.com🥉 FXView
📈 Forex✅Yes✅Yes✅Yes
💎 Precious Metals✅Yes✅Yes✅Yes
📉 ETFsNoneNoneNone
📊 CFDs✅Yes✅Yes✅Yes
💹 Indices✅Yes✅Yes✅Yes
🗂️ StocksNone✅Yes✅Yes
🪙 Cryptocurrency✅Yes✅Yes✅Yes
📝 OptionsNoneNoneNone
💡 Energies✅Yes✅Yes✅Yes
💱 BondsNoneNoneNone

 

Pros and Cons – PrimeXBT Range of Markets

 

✅ Pros❎ Cons
Nigerians can use leverage up to 1:1000 on forex major pairsHigh leverage can lead to substantial loss despite negative balance protection
There is a diverse range of markets offeredPrimeXBT offers a limited range of instruments that can be traded
PrimeXBT applies negative balance protectionNigerians cannot trade local CFDs with PrimeXBT

 

 

What is the maximum leverage offered by PrimeXBT for trading Forex?

PrimeXBT provides a maximum leverage of 1:1000 for trading forex pairs.

 

Are there index trading options available on PrimeXBT for Nigerian traders?

Yes, Nigerian traders can trade eleven different global indices on PrimeXBT.

 

 

PrimeXBT Trading Platforms

 

PrimeXBT Fees, Spreads, and Commissions

 

PrimeXBT Spreads

 

The costs concealed between a financial instrument’s buying and selling prices are known as “hidden” charges. PrimeXBT offers narrow spreads, often around 0.05% for major forex pairs and lower still for certain cryptocurrency combinations.

Nigerian traders can benefit from reduced transaction fees, especially when engaging in high-frequency or sizable trades, thanks to this advantageous feature of the platform.

 

PrimeXBT Commissions

 

Trades will incur direct costs that depend on PrimeXBT’s maker-taker fee system. Those who inject liquidity and use limit orders, known as “makers,” are charged a reduced cost of 0.05%, while those withdrawing liquidity with market orders, called “takers,” pay a slightly higher 0.075% fee.

Nigerians can lower these prices by placing strategic orders to increase their savings.

 

PrimeXBT Overnight Fees

 

Keeping leveraged positions open overnight incurs “swap” expenses, which are determined by the variation in interest rates between two underlying assets.

These charges for Nigerians fluctuate based on market circumstances and investment type. It is advisable to regulate transaction times and minimize exposure at night to reduce these costs.

 

PrimeXBT Deposit and Withdrawal Fees

 

Regardless of the method used, including Bitcoin and other cryptocurrencies, PrimeXBT usually does not impose deposit fees. However, withdrawal costs vary by crypto network and do exist. To avoid surprises, Nigerians should investigate withdrawal fees for their preferred mode.

 

PrimeXBT Inactivity Fees

 

PrimeXBT enforces a fee for inactive accounts for three months to incentivize more trading activity.

The cost amounts to 0.005 BTC per month and may prompt Nigerian traders to take extended breaks to move their funds into unused wallets to avoid additional expenses.

 

PrimeXBT Currency Conversion Fees

 

Nigerians might face conversion costs if they deposit or withdraw funds in currencies other than Bitcoin. These fees vary according to the payment provider; therefore, comparing providers and choosing direct crypto transfers can help reduce costs.

 

Pros and Cons – PrimeXBT Trading and Non-Trading Fees

 

✅ Pros❎ Cons
PrimeXBT offers competitive trading conditionsWithdrawal fees apply
Trading conditions and fees are transparent on the PrimeXBT websiteThere is an inactivity fee
PrimeXBT does not charge any deposit feesThe PrimeXBT fee structure might be complex to understand for beginners

 

 

Does PrimeXBT charge any commissions on trades?

Yes, PrimeXBT charges a 0.05% commission on trades, reflected in the low maker and taker fees.

 

Does PrimeXBT charge deposit fees?

No, PrimeXBT does not impose fees for deposits.

 

 

PrimeXBT Fees, Spreads, and Commissions

 

PrimeXBT Deposits and Withdrawals

 

PrimeXBT offers Nigerian traders the following deposit and withdrawal methods:

 

  • ✅ Direct Crypto
  • ✅ MetaMask Wallet
  • ✅ AdvCash
  • ✅ Perfect Money
  • ✅ Bank Card (Crypto Purchase)

 

 

PrimeXBT Deposit Currencies, Deposit and Withdrawal Processing Times

 

🔎 Payment Method💵 Deposit Currencies⏰ Deposit Processing⏱️ Withdrawal Processing
💰 Direct CryptoBTC, USDT, ETH, USDCInstantInstant
💴 MetaMask WalletETH, USDT, USDC, COVInstantInstant
💶 AdvCashUSDInstantInstant – 48 hours
💷 Perfect MoneyUSDInstantInstant – 48 hours
💳 Bank Card (Crypto Purchase)BTC, ETH, USDT, USDCInstantInstant

 

How to make a Deposit with PrimeXBT

 

To deposit funds to an account with PrimeXBT, Nigerian traders can follow these steps:

 

Direct Crypto:

 

  • ✅ Select your preferred deposit currency from the selections (Bitcoin, Ethereum, USDT, etc.).
  • ✅ Select your favorite network (e.g., Bitcoin Mainnet, Ethereum ERC-20).
  • ✅ Copy the unique PrimeXBT wallet address produced for the selected currency and network.
  • ✅ Place the address in the “Send” area of your personal cryptocurrency wallet or exchange platform.
  • ✅ Alternatively, scan the provided QR code with your wallet app for a quick transfer.
  • ✅ Begin the transfer from your wallet/exchange, providing adequate funds and a suitable network selection.

 

MetaMask Wallet:

 

  • ✅ To connect your MetaMask wallet to your PrimeXBT account, click the “Connect MetaMask” button.
  • ✅ Choose the deposit currency to transfer from your MetaMask wallet (ETH, USDT, USDC, or COV).
  • ✅ Enter your selected deposit amount and click “Deposit.”
  • ✅ A pop-up will appear asking you to confirm the transaction in your MetaMask wallet. Please review the details and confirm.
  • ✅ Your funds will immediately be moved from your MetaMask wallet to your associated PrimeXBT wallet.

 

ADVCash:

 

  • ✅ Choose “USD” as the deposit currency (the only choice for AdvCash deposits).
  • ✅ Select the “Deposit” button next to the AdvCash choice.
  • ✅ You will be redirected to the AdvCash login page. Log in or create an account as needed.
  • ✅ Enter the required deposit amount in USD and complete the payment within AdvCash.
  • ✅ Once completed, your USD will be immediately converted to BTC and put into your PrimeXBT wallet in minutes.

 

Perfect Money:

 

  • ✅ Like AdvCash, select “USD” as your deposit currency for Perfect Money.
  • ✅ Click the “Deposit” button and sign in to your Perfect Money account (or create one if necessary).
  • ✅ Enter the desired deposit amount in USD and finish the transaction using Perfect Money.
  • ✅ Following a successful payment, your USD will be converted to BTC and put into your PrimeXBT wallet within minutes.

 

Bank Cards (Crypto Purchase):

 

  • ✅ Choose the cryptocurrency you want to buy with your bank card (BTC, ETH, USDT, etc.).
  • ✅ Choose your desired bank card provider (Baksta is currently the sole choice).
  • ✅ Enter your selected deposit amount and complete the bank card payment process.
  • ✅ Once completed, the purchased coin will be sent immediately to your PrimeXBT wallet within minutes.

 

How long do PrimeXBT Deposits take?

Direct cryptocurrency deposits and MetaMask transfers are typically the fastest, taking only minutes to confirm, depending on network conditions.

Deposits with AdvCash and Perfect Money may take slightly longer (a few minutes to an hour) due to additional currency conversions. Bank card purchases are also relatively swift, with deposits coming minutes following a successful transaction.

 

How do I make a deposit using MetaMask on PrimeXBT?

To deposit with MetaMask on PrimeXBT, connect your MetaMask wallet and send your desired cryptocurrency to your PrimeXBT wallet.

 

Are there any minimum or maximum deposit limits on PrimeXBT?

Yes, PrimeXBT’s minimum deposit is 0.001 BTC, and while there is no specified maximum restriction, transaction size might be limited by the payment method utilized.

 

 

How to Withdraw from PrimeXBT

 

To withdraw funds from an account with PrimeXBT, Nigerian traders can follow these steps:

 

Direct Crypto:

 

  • ✅ Go to the “Withdraw” section of your PrimeXBT account.
  • ✅ Choose the cryptocurrency you want to withdraw (Bitcoin, Ethereum, USDT, etc.).
  • ✅ Choose the appropriate network for your currency (e.g., Bitcoin Mainnet, Ethereum ERC-20).
  • ✅ Enter the withdrawal amount and the recipient’s address from your personal cryptocurrency wallet or exchange platform.
  • ✅ To avoid problems, double-check all details such as currency, network, and address.
  • ✅ Click “Submit Withdrawal” and then follow the verification procedures on your screen.
  • ✅ Your funds will be in your chosen recipient’s wallet within minutes or hours, depending on network confirmation timeframes.

 

MetaMask Wallet:

 

  • ✅ To withdraw funds from MetaMask Wallet, navigate to the “Withdraw” section of your PrimeXBT account.
  • ✅ Select which cryptocurrency you wish to send to your MetaMask wallet (ETH, USDT, USDC, or COV).
  • ✅ Enter the required withdrawal amount and choose your MetaMask wallet.
  • ✅ Review the information and click “Submit Withdrawal.”
  • ✅ Your funds will be transferred quickly from your PrimeXBT wallet to your chosen MetaMask account.

 

AdvCash:

 

  • ✅ To withdraw AdvCash, select “USD” as the currency (the only choice available).
  • ✅ Select the “Withdraw” button next to the AdvCash choice.
  • ✅ Enter the desired withdrawal amount in USD and provide your AdvCash account information.
  • ✅ Confirm your withdrawal and follow any on-screen verification instructions.
  • ✅ PrimeXBT will convert your Bitcoin to USD and transfer it to your AdvCash account, usually between minutes to hours.

 

Perfect Money:

 

  • ✅ Like AdvCash, choose “USD” as the withdrawal currency for Perfect Money.
  • ✅ Click the “Withdraw” button and enter your Perfect Money account information.
  • ✅ Enter your chosen withdrawal amount in USD and confirm the transaction.
  • ✅ PrimeXBT will convert your Bitcoin to USD and deposit it into your Perfect Money account within minutes or hours.

 

 

How long do PrimeXBT Withdrawals take?

Direct cryptocurrency withdrawals and MetaMask transfers are typically the fastest, taking only minutes to confirm, depending on network conditions.

Withdrawals from AdvCash and Perfect Money may take slightly longer (a few minutes to an hour) due to additional currency conversions. Remember that withdrawal processing periods may vary depending on PrimeXBT’s internal verification procedures.

 

How quickly can I receive my withdrawal from PrimeXBT?

Withdrawals from PrimeXBT are normally completed immediately, although the time frame may vary depending on the payment method and network circumstances.

 

Can I withdraw my funds from PrimeXBT to a Nigerian bank account?

No, PrimeXBT does not accommodate direct withdrawals to Nigerian bank accounts; all withdrawals must be made in cryptocurrency.

 

 

Broker Comparison: Deposit and Withdrawals

 

🔎 Broker🥇 PrimeXBT🥈 XS.com🥉 FXView
⏰ Minimum Withdrawal TimeInstantInstantInstant
⏱️ Maximum Estimated Withdrawal TimeDepends on the payment method – a few minutes to 48 hours10 working days7 Days
⏲️ Instant Deposits and Instant Withdrawals✅Yes✅Yes✅Yes

 

Pros and Cons – PrimeXBT Deposits and Withdrawals

 

✅ Pros❎ Cons
Nigerians can deposit and withdraw funds instantly with PrimeXBTPrimeXBT offers limited payment methods for deposits and withdrawals
PrimeXBT’s deposit and withdrawal methods are secure and reliableNigerians face currency conversion fees on deposits and withdrawals made in NGN

 

 

Are there instant deposits and withdrawals available on PrimeXBT?

Yes, PrimeXBT accepts immediate deposits and withdrawals from most payment methods.

 

Can I deposit USD on PrimeXBT using AdvCash?

Yes, you can deposit USD on PrimeXBT using AdvCash, and it will be instantaneously converted to BTC.

 

 

PrimeXBT Deposits and Withdrawals

 

PrimeXBT Education and Research

 

PrimeXBT offers the following Educational Materials to Nigerian traders:

 

  • ✅ Platform Guides
  • ✅ Trading and Crypto Guides

 

PrimeXBT also offers Nigerian traders the following additional Research and Trading Tools:

 

  • ✅ Price Charts
  • ✅ Information on Long/Short Trading
  • ✅ Information on Bitcoin Leverage
  • ✅ Copy Trading
  • ✅ Market Research

 

 

and more!

 

Research and Trading Tool Comparison

 

🔎 Broker🥇 PrimeXBT🥈 XS.com🥉 FXView
✏️ Economic Calendar✅Yes✅ Yes, through MT5✅Yes
📔 VPSNoneNone✅Yes
📚 AutoChartistNoneNone✅Yes
📒 Trading ViewNoneNoneNone
📑 Trading CentralNoneNoneNone
🗃️ Market Analysis✅YesNone✅Yes
🗄️ News Feed✅Yes✅Yes✅Yes
📇 Blog✅Yes✅Yes✅Yes

 

Pros and Cons – PrimeXBT Education and Research

 

✅ Pros❎ Cons
PrimeXBT’s demo account aligns with trading contests, allowing beginners to trade risk-free and earnPrimeXBT’s education and research are limited compared to other brokers
PrimeXBT offers some educational material to NigeriansPrimeXBT does not offer VPS

 

 

Does PrimeXBT provide market analysis tools?

Yes, PrimeXBT provides market analysis, a news feed, and a blog to help traders stay updated about market trends.

 

Can I access economic news and updates on PrimeXBT?

Yes, PrimeXBT offers an updated news feed and economic calendar to help traders stay updated on market-related news and events.

 

 

PrimeXBT Education and Research

 

PrimeXBT Customer Support

 

🔎 Customer Support🥇 PrimeXBT
⏰ Operating Hours24/7
📈 Support LanguagesMultilingual
📉 Live Chat✅Yes
💌 Email Address✅Yes
☎️ Telephonic SupportNone
5️⃣ The overall quality of PrimeXBT Support4/5

 

Pros and Cons – PrimeXBT Customer Support

 

✅ Pros❎ Cons
Nigerians can contact PrimeXBT 24 hours a day, 7 days a weekPrimeXBT does not offer localized support in Nigeria

 

 

Does PrimeXBT offer customer support in multiple languages?

Yes, PrimeXBT offers multilingual support to accommodate its varied user base.

 

Does PrimeXBT Customer Support handle account security issues?

Yes, PrimeXBT Customer Support can help with account security issues, such as two-factor authentication and password resets.

 

 

PrimeXBT Customer Support

 

PrimeXBT Cashback Rebates Features and Conditions

 

Nigerian traders can effectively decrease their trading costs by receiving a portion of their fees in Bitcoin through PrimeXBT’s Cashback Rebates program, making it an attractive option.  Although not exclusively aimed at Nigerians, this initiative provides them full accessibility and benefits while carrying out trades on the platform.

The program operates on a tiered trading volume system where the payback percentage increases as the trader’s monthly trading volume grows.

A trader with less than 100 BTC in monthly trade volumes receives a rebate of 5%, while those who clock over 100,000 BTC receive up to a maximum of 20% rebate.  As such, traders falling under different tiers can expect to be reimbursed between 0.05 and .2BTC for every Bitcoin paid out towards their trade fees based solely on their range.

To obtain these rebates, one must take assertive steps. Traders are required to claim their BTC refunds themselves during a specific monthly timeframe.

Importantly, it should be recognized that the incentives do not transfer automatically to the following month; hence, fulfilling deadlines is imperative to avoid losing out on accumulated rewards.

Only trading fees from margin positions are eligible for a rebate, as certain fees, including overnight charges, withdrawal costs, and currency conversion fees, are excluded. The program also prohibits certain CFDs from qualifying for the rebate offer.

 

 

Are all traders eligible for PrimeXBT Cashback Rebates?

Yes, all traders who sign up for an account and achieve the trading volume required are eligible for rebates.

 

Can I use cashback rebates from PrimeXBT to open new trades?

Yes, you can use cashback rebates paid to your trading account to open new positions.

 

 

PrimeXBT Cashback Rebates Features and Conditions

 

PrimeXBT Geographic Reach and Limitations

 

PrimeXBT’s Current Expansion Focus

 

PrimeXBT is expanding globally.

 

Countries not accepted by PrimeXBT

 

PrimeXBT does not accept traders from the following countries:

 

  • ✅ United States of America
  • ✅ United States Minor Outlying Islands
  • ✅ Canada
  • ✅ Algeria
  • ✅ American Samoa
  • ✅ Cuba
  • ✅ Cyprus
  • ✅ Ecuador
  • ✅ Iran
  • ✅ Israel
  • ✅ Japan
  • ✅ Myanmar
  • ✅ North Korea
  • ✅ Russian Federation
  • ✅ Sudan
  • ✅ Syria
  • ✅ Saint Vincent and The Grenadines

 

 

Popularity among Nigerian traders who choose PrimeXBT

 

PrimeXBT is one of the top 100 brokers and trading platforms in Nigeria.

 

PrimeXBT – Best Countries by Traders

 

🔎 Country📉 Market Share
🥇 Spain17.78%
🥈 Argentina8.05%
🥉 United Kingdom7.01%
🏅 Ireland5.16%

 

PrimeXBT Web Traffic Report

 

🌎 Global Rank75,824
🚩 Country Rank35,737
📈 Category Rank260
📉 Total Visits613.1K
📊 Bounce Rate56.33%
6️⃣ Pages per Visit5.73
⏰ Average Duration of Visit00:02:59

 

 

Are there any specific countries where PrimeXBT does not accept traders?

Yes, PrimeXBT does not welcome traders from the United States, Canada, or Japan, among others, due to geographical regulations.

 

Does PrimeXBT have a local office in Nigeria?

No, PrimeXBT does not currently operate a local office in Nigeria.

 

 

PrimeXBT Geographic Reach and Limitations

 

PrimeXBT vs XS.com vs FXView – A Comparison

 

🔎 Broker🥇 PrimeXBT🥈 XS.com🥉 FXView
📈 RegulationNone; licensed in Seychelles and The Marshall IslandsASIC, CySEC, FSACySEC, FSCA, FSA, SEBI
📉 Trading PlatformPrimeXBTMetaTrader 4
MetaTrader 5
MetaTrader 4
MetaTrader 5
ActTrader
ZuluTrade
📊 Withdrawal Fee✅YesNoneNone
🆓 Demo Account✅ Yes, with contests✅Yes✅Yes
💴 Min Deposit38,600 NGN0 NGN45,000 NGN
📌 Leverage1:10001:10001:500
📍 SpreadFrom 0.05%From 0.1 pipsFrom 0.0 pips
💵 Commissions0.05%$6 per lot traded$1/$100,000 traded
⛔ Margin Call/Stop-OutFlexible60% – 40%
20% – 10%
70% (M)
50% (S/O)
🖱️ Order ExecutionInstantMarket, InstantECN
🎁 No-Deposit BonusNoneNoneNone
🪙 Cent AccountsNone✅YesNone
↪️ Account TypesLive AccountCent Account
Standard Account
Micro Account
Elite Account
Pro Account
VIP Account
RAW ECN
Islamic
⏰ Customer Service Hours24/724/724/5
⚙️ Retail Investor Accounts162
☪️ Islamic AccountNone✅Yes✅Yes
➖ Minimum Trade Size0.01 lots0.01 lots0.01 lots
➕ Maximum Trade SizeFlexible100 lots100 lots
⏱️ Minimum Withdrawal TimeInstantInstantInstant
⏲️ Maximum Estimated Withdrawal TimeDepends on the payment method – a few minutes to 48 hours10 working days7 Days
⌚ Instant Deposits and Instant Withdrawals✅Yes✅Yes✅Yes

 

PrimeXBT vs XS.com vs FXView - A Comparison

 

PrimeXBT Alternatives

 

🥇 Binance

The exchange provides excellent liquidity, a variety of instruments, and user-friendly features like margin and copy trading. Nigerians can enjoy a low minimum deposit of 0.001 BTC and P2P trading for local currency deposits and withdrawals, though costs may be slightly higher.

 

 

🥈 Bybit

Bybit is a popular choice for Nigerian traders due to its security and copy trading features; Launchpad offers early access to innovative cryptocurrency ventures, lower leverage, and smaller instrument variety than PrimeXBT.

 

 

🥉 NairaEx

NairaEx is a Nigerian platform with a user-friendly interface and support for local currencies. It offers affordable deposits and withdrawals for Nigerians but may restrict access to stock indices and other financial instruments as it focuses on crypto-to-crypto transactions.

 

 

PrimeXBT Alternatives NG

 

Our Experience with PrimeXBT

 

Our direct interaction with PrimeXBT has given us a thorough understanding of its capabilities and products. The platform’s low entrance criterion is particularly intriguing, making it accessible to new entrants with a minimum deposit of only 0.001 Bitcoin.

For seasoned traders, large leverage on Forex offers the possibility for significant gains, but it also carries higher hazards. We enjoy the various markets offered, including cryptocurrency, forex, commodities, and indices. This variant enables a broader investment plan.

The user interface of PrimeXBT is simple, allowing even beginners to trade with ease. However, the lack of regulatory monitoring from Tier-1 nations is a significant worry that potential users should consider, especially those who value institutional support and the added protection it provides.

 

PrimeXBT Trading Platform

 

The PrimeXBT trading platform stands out with a user-friendly design and a strong package of features ideal for traders of all skill levels. The platform offers quick execution times and a stable environment powered by Amazon AWS, a big advantage in the fast-paced trading sector.

According to our research, advanced charting tools and many technical indicators are available, which we found useful for implementing complicated trading strategies.

Features such as one-click trading and a variety of order types add to an efficient trading experience.

However, we found that PrimeXBT does not support popular third-party tools such as MetaTrader 4 or 5, which may be a disadvantage for traders who are used to those settings.

Furthermore, while the proprietary platform is sophisticated, newcomers may face a steep learning curve to utilize its possibilities fully.

 

Quality of Customer Service

 

Our interactions with PrimeXBT customer service have been generally positive. Support is available 24 hours a day, seven days a week, which is essential for a trading platform serving a global audience in various time zones.

The multilingual support caters to a large user base, yet localized help for Nigerian traders is not stated. Response times are commendable across all channels, with live chat and phone inquiries resolved in minutes and email inquiries usually resolved within a day.

The absence of a Nigerian phone number does not substantially impact service quality because digital communication routes are efficient and dependable.

However, users who prefer face-to-face encounters may notice a lack of personalized customer support. Overall, the customer service system looks robust, albeit response quality can vary depending on the issue’s complexity.

 

Our Experience with PrimeXBT

 

Recommendations according to our in-depth review of PrimeXBT

 

Firstly, enhancing the platform with more advanced risk management features designed for unpredictable markets can assist Nigerian traders in navigating the difficulties of trading. Furthermore:

 

  • ✅ Introducing incentives and bonuses tailored to the Nigerian market may attract more customers and encourage active trading.
  • ✅ Providing comprehensive training materials geared to different levels of trader competence, focusing on topics such as leverage trading, risk management, and market analysis, will substantially help Nigerian traders, particularly those new to trading.
  • ✅ Offering customer assistance in local languages and understanding the Nigerian market can enhance the overall user experience and help traders resolve difficulties more efficiently.
  • ✅ Adding support for the Nigerian Naira for deposits, withdrawals, and trading will greatly simplify transactions for Nigerian users by eliminating the need for currency conversion and associated charges.
  • ✅ Given Nigeria’s strong mobile usage, optimizing the mobile trading experience to make it fluid, intuitive, and fully featured will meet the needs of traders on the go.
  • ✅ Engaging with the local trading community through seminars, workshops, and collaborations with Nigerian trading groups and associations could assist in better understanding and catering to specific local needs.
  • ✅ Collaboration with Nigerian banks and financial institutions could lead to more efficient and cost-effective deposit and withdrawal processes.
  • ✅ Providing regular research and insights into market trends affecting the Nigerian economy and financial markets would be an invaluable resource for traders seeking to make informed judgments.

 

 

Strengthening regulatory compliance in the Nigerian financial system would increase trust and credibility among Nigerian traders.

 

 

PrimeXBT Customer Reviews

 

🥇 Very Happy!

As a Covesting platform user, I found this website useful. Instead of sifting through many traders on the platform, this website provides a short and instructive assessment of the best traders’ techniques. It has saved me a lot of time and effort, and I strongly recommend it to other people looking to improve their trading experiences. – Kwabena Mensah

 

 

🥈 Great Support!

Despite a rough start, PrimeXBT’s customer support team redeemed themselves. Everyone gets days off, and it appears that was the case here. So far, my experience has been amazing. Deposits and account funding processes have been quick and easy, and the platform is user-friendly. I’ll offer an update once I have made my first withdrawal. – Nora Kristiansen

 

 

🥉 Excellent.

PrimeXBT enables traders to greatly increase their profits, making it a game changer, especially for those with low cash. I occasionally trade crypto with leverage of up to 100x, always exercising caution. – Miguel Ángel García

 

 

PrimeXBT Pros and Cons

 

✅ Pros❎ Cons
The platform’s cost structure, which includes low maker and taker fees for margin trading, is ideal for Nigerian investors looking to maximize their trading potentialGiven the platform’s emphasis on cryptocurrencies, Nigerian traders are exposed to the inherent volatility of these markets, which can be dangerous
The platform’s user-friendly design makes it suited for both new and seasoned traders in NigeriaHigh leverage can compound losses, which may pose a considerable risk for Nigerian traders
PrimeXBT’s modest minimum deposit of 0.001 Bitcoin makes it an accessible platform for Nigerian traders of all levelsBecause there is no direct support for the Nigerian Naira, traders must resort to currency conversion
With leverage of up to 1:1000 on forex, Nigerian traders can dramatically amplify their trading positionsThe lack of strong regulatory control on platforms such as PrimeXBT may cause security and dependability worries for some Nigerian traders

 

 

PrimeXBT Risk Warning and Disclaimer for Traders:   Investing in financial products on PrimeXBT involves a high degree of risk and may not be suitable for all investors based in Nigeria. It is important to carefully evaluate your objectives, current financial status, requirements, and experience before engaging with the platform.

With leveraged trading offered by PrimeXBT comes an opportunity to increase profits and the possibility of extensive losses that can exceed one’s primary investment. It must be noted that leverage presents advantages and disadvantages that require consideration.

The fluctuation of prices concerning cryptocurrencies, forex options, and similar instruments available on Prime XTB varies significantly within short periods, leading to possible substantial loss.

Moreover, using platforms like this that do not accept Nigerian Naira (NGN) payment means currency conversion risks may arise. Therefore, past success experiences should never guarantee future outcomes; thus, consulting outside advisors when necessary becomes crucial while operating under these terms.

 

 

Our Review Methodology:  For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.  Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.  Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.

 

 

Addendum/Disclosure:  No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.

 

 

Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all Nigerian investors.  Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.

 

 

In Conclusion

 

As a trading platform for Nigerians, PrimeXBT impressed us with its attractive features and noteworthy benefits. Its user-friendly interface caters to novices as well as seasoned traders alike.

The convenience of easy access, low deposit threshold, and diverse range of tradeable products such as cryptocurrencies, foreign exchange, and commodities make it an ideal choice for Nigerian investors seeking multiple options in the market.

However, while leverage can increase profits, our research shows that it brings a higher level of risk, which is especially relevant in the turbulent markets frequented by Nigerian traders.

Therefore, we urge Nigerians to approach leverage with a thorough grasp of the hazards. In addition, the lack of direct support for the Nigerian Naira may be a barrier for some traders, resulting in higher currency conversion rates.

However, despite these drawbacks, in our experience, PrimeXBT’s security features, such as cold storage of digital assets and two-factor authentication, ensure high safety and trust in the platform’s architecture.

Furthermore, the cashback rebates program is an appealing incentive, providing a method to reclaim a portion of trading costs.

 

 

Frequently Asked Questions

 

Can Nigerians trade on PrimeXBT?

Yes, Nigerians can legally trade PrimeXBT with Bitcoin and other cryptocurrencies.

 

Does PrimeXBT have Nasdaq 100?

Yes, PrimeXBT offers several indices that can be traded as Contracts for Difference, including Nasdaq.

 

What deposit methods are available for Nigerians?

Direct crypto deposits, MetaMask wallet, AdvCash, Perfect Money (USD only), and bank card (for cryptocurrency purchases).

 

Does PrimeXBT offer Naira trading?

No, PrimeXBT does not directly support Naira; however, you can deposit and withdraw in USD using AdvCash and Perfect Money.

 

Is PrimeXBT Safe or a Scam?

PrimeXBT is a safe broker and platform for Nigerians.

 

Is PrimeXBT regulated?

No, PrimeXBT is not regulated but is registered in the Seychelles and The Marshall Islands.

 

How can Nigerians earn cashback on PrimeXBT?

Nigerians can receive manual cashback rebates based on their monthly trading volume, up to 20% in Bitcoin.

 

Can Nigerians use leverage on PrimeXBT?

Yes, PrimeXBT provides leverage of up to 1:1000 on certain instruments, but use caution and manage risk appropriately.

 

How long does it take to withdraw from PrimeXBT?

Withdrawals with PrimeXBT can be instant or take a few hours, depending on the withdrawal method.

 

Are there any bonuses or promotions for Nigerians?

Yes, PrimeXBT provides Nigerians a Welcome Bonus, Easy Start Rewards, and referral bonuses.

 

9.6/10 - (5 votes)