PrimeBit Review

PrimeBit Logo

PrimeBit is a peer-to-peer cryptocurrency exchange that operates from Saint Vincent and the Grenadines, providing traders with the MT5 trading platform and their proprietary web-based platform for trading multiple cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, Tether, and more. The Exchange strives to make contract trading simple and accessible to everyone. Clients also get access to a range of trading tools and educational resources, while there is a leverage of up to 1:200.

PrimeBit Review Features Overview
PrimeBit Review Features Overview

PrimeBit Review Introduction

In this PrimeBit review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.

You may also wish to view my best brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my broker reviews. You can also use my free trading tool to compare brokers including PrimeBit.

PrimeBit Platforms & Tools

Traders are allowed to trade the offered cryptocurrencies using the MetaTrader 5 trading platform and the PrimeBit WebTrader. The MT5 trading platform is used by many forex/CFD traders around the world because of its intuitive yet user-friendly interface. The platform has a range of useful features, such as risk management tools to limit trade losses, analysis tools, and automation capability. MT5 is available as a desktop application, a WebTrader, and a mobile trading app designed for Android and iOS devices and can be downloaded from the respective app stores free of charge.

PrimeBit Review MT5 Trading Platform
PrimeBit Review MT5 Trading Platform

There is also the PrimeBit WebTrader, which gives traders access to trade linear perpetual contracts for Bitcoin, Ethereum, and Litecoin. The platform is web-based, and it creates a unique and easy flow for cryptocurrency trading without the need to download or install any additional software. Clients also get access to a range of useful trading tools to ensure they enjoy a seamless trading experience. They include the Trading API (REST API, and WebSocket), and the PrimeBit Trading Calculator that helps to determine the effects of any selected leverage on your account.

PrimeBit Review Trading Platform
PrimeBit Review Trading Platform

PrimeBit Research & Education

There is a selection of educational materials on PrimeBit’s website to ensure traders make informed trading decisions. They include Video Tutorials, Trading articles, and an FAQ section that offers quick answers to the most common questions traders have.

PrimeBit Review Video Tutorials
PrimeBit Review Video Tutorials

PrimeBit Trading Accounts

Traders are offered a single live trading account. There is also a demo account, which allows traders to try out the Exchange’s platforms with virtual funds before opening a real trading account.

PrimeBit Account Funding

PrimeBit accepts Bitcoin and Tether deposits only. They do not charge any fees on deposits, while the withdrawals are instant.

PrimeBit Customer Service

PrimeBit offers a knowledgeable customer support team that can be reached via the Help Window on the website, and the team will respond via email. You can also reach them on social media.

PrimeBit Regulation

PrimeBit brand is operated by PrimeBit Limited, which is registered in Saint Vincent and the Grenadines. However, there is no regulatory information on the exchange’s website. Most experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can.

PrimeBit Review Summary

Overall, PrimeBit is a cryptocurrency exchange that operates from Saint Vincent and the Grenadines, offering traders the opportunity to trade many cryptocurrencies via the MT5 and their proprietary WebTrader platforms. They provide some helpful tools and a selection of educational materials. However, PrimeBit is unregulated which may be a red flag for some potential clients.

It is worth mentioning that some of the trading products and services in this PrimeBit review may differ or not be available to traders in some countries due to regulations. As broker’s terms can change over time, please verify all information is up to date directly from the PrimeBit broker website which you can visit by using the link below.

Trading in the products and services of PrimeBit Limited, even if made in accordance with a recommendation with financial advisors, results in losses as well as profits. Particularly, trading in digital currencies can be very speculative and losses and profits may fluctuate both violently and rapidly.

PrimeBit

5.6

Spreads

7.0/10

Liquidity

7.0/10

Commissions

7.0/10

Support

7.0/10

Regulation

0.0/10

Features

  • MetaTrader 5 and a proprietary trading platform
  • A range of trading tools
  • Multiple cryptocurrencies
  • A selection of educational materials