Best MT4 Broker
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$100 Minimum
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Accepts Kenyan
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PrimeXBT review

 

Overall, PrimeXBT can be summarised as a trustworthy and popular Forex Broker that is very competitive in terms of its trading fees. PrimeXBT offers access to an intuitive interface for a seamless user 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%

 

Overall Rating

Min Deposit

0.001 BTC / 7,000 KES

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 Bonus Offers and Promotions
  7. ☑️ PrimeXBT Affiliate Program Features
  8. ☑️ PrimeXBT Awards and Recognition
  9. ☑️ PrimeXBT Minimum Deposit
  10. ☑️ PrimeXBT Account Types and Features
  11. ☑️ How to Open and Close a PrimeXBT Account
  12. ☑️ PrimeXBT Base Account Currencies and Basic Order Types
  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 Corporate Social Responsibility
  22. ☑️ PrimeXBT Geographic Reach and Limitations
  23. ☑️ PrimeXBT vs LiteFinance vs FXPesa – A Comparison
  24. ☑️ PrimeXBT Alternatives
  25. ☑️ Our Experience with PrimeXBT
  26. ☑️ Recommendations according to our in-depth review of PrimeXBT
  27. ☑️ PrimeXBT Customer Reviews
  28. ☑️ PrimeXBT Pros and Cons
  29. ☑️ In Conclusion
  30. ☑️ Frequently Asked Questions

 

 

PrimeXBT Overview

 

PrimeXBT differentiates itself from other trading platforms by enabling Kenyan traders to access various markets, including indices, commodities, cryptocurrencies, and foreign exchange.  PrimeXBT’s dedication to delivering an intuitive interface for seamless user experience, competitive rates, and robust security measures greatly sets it apart.

With transparent pricing that ensures minimal commission fees and spreads available, cost-effective trading is made possible, ultimately facilitating maximum financial returns amidst the dynamic market environment.

With leverage options as high as 1:1000 in forex markets, Kenyan investors can sensibly enhance their trading positions by utilizing PrimeXBT. Given the growing interest in foreign exchange trading among Kenyans, this could result in significant advantages.

Additionally, depositing cryptocurrencies like Bitcoin directly means traders do not need a local office or account holding Kenyan Shilling – making entry into this market even more straightforward.

While Kenyan authorities lack explicit oversight, PrimeXBT implements rigorous security protocols like cold storage for digital assets and complete SSL encryption.

Additionally, traders in Kenya benefit from educational materials and round-the-clock customer service on the platform to navigate trading opportunities with proficiency.

Moreover, PrimeXBT’s affiliate and incentive programs create a comprehensive ecosystem that caters to novice and seasoned traders by offering additional earning opportunities and gaining knowledge about trading practices within the region.

 

PrimeXBT Overview

 

PrimeXBT Detailed Summary

 

🔎 Broker🥇 PrimeXBT
🏦 HeadquarteredMarshall Islands, Seychelles
🌎 Global OfficesMarshall Islands, Seychelles
📈 Local Market Regulators in KenyaCapital Markets Authority (CMA)
📉 Foreign Direct Investment in Kenya10.4 billion (2015 – 2021)
📊 Foreign Exchange Reserves in Kenya7.9 billion USD (2023)
↪️ Social Media PlatformsTelegram
Facebook
Instagram
X
YouTube
Reddit
Discord
🆓 Demo Account✅Yes
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 offeredYes
⚠️ Maximum Leverage1:1000
❌ Leverage Restrictions for KenyaPer the instrument
💶 Minimum Deposit (KES)0.001 BTC (44 USD)
💷 Deposit CurrenciesBTC, ETH, USDT, USDC, COV, USD
💳 Account Base CurrencyBTC, ETH, USDT, USDC, COV
👥 Active Kenya Trader Stats90,000+
↪️ Kenya Daily Forex Turnover6.95 billion USD weekly (2023)
💸 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
📌 Customer Support LanguagesMultilingual
📍 Copy Trading Support✅Yes
⏰ Customer Service Hours24/7
🎁 Bonuses and Promotions for Kenya Traders✅Yes
🤓 Education for Kenyan beginners✅Yes
⏩ Proprietary trading software✅Yes
😎 Most Successful Trader in KenyaPatrick Mahinge (Net worth – $750,000±)
🩷 Is PrimeXBT a safe broker for Kenyan Traders✅Yes
7️⃣ Rating for PrimeXBT Kenya7/10
💯 Trust score for PrimeXBT Kenya75%

 

PrimeXBT Detailed Summary

 

PrimeXBT – Advantages Over Competitors

 

PrimeXBT has the following notable advantages over competitors:

 

  • ✅ PrimeXBT accepts a range of deposit methods, including direct crypto and MetaMask Wallet, giving Kenyan traders a choice in how they finance their accounts.
  • ✅ PrimeXBT’s 24/7 customer support ensures that Kenyan traders receive prompt assistance regardless of their time zone or trading schedule.
  • ✅ The user-friendly interface and customizable platform layouts accommodate traders of all skill levels in Kenya, ensuring a personalized trading experience.
  • ✅ PrimeXBT provides Kenyan traders with immediate order execution, reducing slippage and increasing trading efficiency in Kenya’s fast-paced financial markets.
  • ✅ Kenyan traders have access to worldwide markets with leverage of up to 1:1000 on forex, which offers huge profit potential.
  • ✅ The platform’s competitive spreads, which start at 0.05%, enable cost-effective trading, which is critical for Kenyan traders to remain profitable.
  • ✅ The PrimeXBT platform is available without needing a local Kenyan office, providing Kenyan traders with a borderless and global trading experience.
  • ✅ The offer of a trial account through trading contests allows Kenyan traders to practice and improve their trading methods without risking real money.
  • ✅ Kenyan traders can join PrimeXBT’s affiliate program, potentially generating additional money by leveraging their networks.
  • ✅ PrimeXBT’s continual research and development commitment means that Kenyan traders can access the most up-to-date trading tools and features.

 

 

and many, MANY more!

 

PrimeXBT - Advantages Over Competitors

 

Who will Benefit from Trading with PrimeXBT?

 

Traders Seeking Diversification

 

Kenyan traders looking to diversify their investment portfolios will benefit greatly from PrimeXBT’s extensive range of tradable assets, which includes indices, commodities, and FX pairs. This diversification enables effective risk management and the possibility of more consistent returns.

 

Cryptocurrency Enthusiasts

 

Given Kenya’s growing interest in digital currencies, anyone interested in trading cryptocurrencies will find PrimeXBT’s wide range of crypto pairs extremely useful. The platform’s architecture is designed to facilitate quick and secure trading of digital assets, which is a big draw for cryptocurrency traders.

 

Experienced Forex Traders

 

With high leverage offered, seasoned forex traders can fully utilize PrimeXBT’s products to increase their market positions. The platform’s competitive spreads and leverage of up to 1:1000 may particularly appeal to traders seeking to maximize possible earnings from FX swings.

 

Educational Seekers

 

Beginners and traders interested in continual learning can benefit from PrimeXBT’s educational tools, which include guides and articles that can help them improve their trading knowledge and skills.

 

Affiliates

 

Kenyan affiliate marketers with a strong network can benefit from PrimeXBT’s affiliate program, earning extra revenue through referrals.

 

Risk-averse traders

 

Traders who take a cautious attitude to risk may appreciate PrimeXBT’s negative balance protection, which ensures they cannot lose more than their account balance.

 

Tech-savvy investors

 

PrimeXBT’s modern, intuitive user interface and extensive features will appeal to tech-savvy Kenyan traders looking for a platform with comprehensive charting tools and a customizable dashboard.

 

Day traders and scalpers

 

Kenyan traders who use day trading or scalping can profit from PrimeXBT’s short trade execution times and ability to handle rapid trading techniques, which are essential in these trading styles.

 

Active and High-volume Traders

 

The platform’s fee structure, which rewards bigger trading volumes with lower costs and the availability of liquidity providers, ensures that active and high-volume traders may operate efficiently and affordably.

 

 

What kind of liquidity can traders expect on PrimeXBT?

PrimeXBT provides exceptional liquidity, evidenced by its daily average trading volume surpassing $1 billion and its access to more than 12 counterparties offering liquidity.

 

Does PrimeXBT offer personalized trading experiences?

Yes, by enabling users to modify widgets and layouts, PrimeXBT offers a customized trading experience.

 

 

Who will Benefit from Trading with PrimeXBT

 

PrimeXBT Safety and Security

 

PrimeXBT is not currently regulated by the Capital Markets Authority (CMA). However, PrimeXBT global regulations are listed in the table below.

 

🔎 Registered Entity🌎 Country of Registration↪️ Company Reg.
🅰️ Prime Technology LtdSeychelles217308
🅱️ Prime XBT Trading Services LtdRepublic of Marshall Islands120813

 

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

 

Security is paramount for online traders in Kenya and other parts of the world, considering the fast-paced nature of Internet trading.  PrimeXBT has continuously tried safeguarding client assets while incorporating innovative trading solutions, positioning it as one of Kenya’s trusted platforms for secure transactions.

This section will focus on PrimeXBT’s comprehensive security protocols and their significance to Kenyan enterprises.

 

Emphasis on Wallet Security

 

The platform strongly emphasizes offline cold storage for most digital assets to mitigate the risks associated with online threats in today’s technology landscape.  Additionally, employing multi-signature access reduces potential security vulnerabilities stemming from single points of system failure and enhances redundancy measures.

Kenyan traders can rely on this advanced protection to keep their valuable holdings inaccessible to cyber-attacks or breaches over the internet.

 

Cutting-Edge Security Techniques

 

PrimeXBT employs advanced security techniques and protocols to enhance user account protection and deter unauthorized access.  The platform utilizes Google Authenticator’s Two-Factor Authentication (2FA) capability, which adds an extra safeguard against illegal entry into users’ accounts.

This measure significantly fortifies Kenya traders’ asset security assurance paradigmatic step forward in protecting their investments on our platform.

 

Cybersecurity Framework

 

PrimeXBT is committed to providing top-notch security measures that begin with a rigorous cybersecurity infrastructure.  Its goal is to ensure the utmost protection for customer assets by conducting frequent stress tests and comprehensive security assessments in adherence to industry standards.

In light of Kenya’s thriving digital economy, where data privacy and financial well-being are paramount, PrimeXBT maintains a proactive approach towards safeguarding capital against an array of cyber threats and susceptibilities, giving Kenyan traders peace of mind.

 

Optimized Trading System

 

PrimeXBT’s trading platform is designed to exceed the most stringent industry standards. It boasts a sturdy trading engine equipped with cutting-edge technology that decreases latency and enhances order execution speed, elevating both trader effectiveness and security measures.

After every transaction of buying or selling, a comprehensive risk assessment method is conducted to oversee any trade-associated hazards meticulously.

This comprehensive strategy offers critical protection for Kenyan traders who desire secure transactions for their capital while utilizing an exchange service provider.

 

Protection of Digital Assets

 

PrimeXBT employs various security measures to safeguard Kenyan traders’ digital assets and sensitive information. The platform requires a Bitcoin address safe listing and utilizes cold storage for storing these assets.

PrimeXBT uses multi-signature technology high-security hardware modules to enhance security further and securely stores all critical data, including passwords.  Furthermore, HTTPS-enabled SSL is utilized to secure website traffic, while Cloudflare helps prevent distributed denial-of-service (DDoS) attacks for an added layer of protection.

These essential procedures ensure that Kenyan traders’ valuable financial data remains private and secure on the PrimeXBT trading site.

 

Pros and Cons – PrimeXBT Regulation and Safety of Funds

 

✅ Pros❎ Cons
PrimeXBT prioritizes platform securityPrimeXBT is not regulated by regulatory entities like the FCA, FSCA, etc.
Client funds are kept safe in segregated accountsPrimeXBT is not regulated in Kenya by CMA

 

 

What security measures does PrimeXBT have in place for online trading?

PrimeXBT safeguards online trading activities with SSL encryption, two-factor authentication, and real-time risk assessments.

 

What kind of SSL Certificate does PrimeXBT use?

PrimeXBT utilizes an industry-standard SSL certificate to safeguard sensitive data and secure web traffic.

 

 

PrimeXBT Safety and Security

 

PrimeXBT Bonus Offers and Promotions

 

PrimeXBT offers Kenyan traders the following bonuses and promotions:

 

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

 

 

PrimeXBT offers various incentives and promotions for traders from Kenya, all designed to enhance their trading experience and financial profitability. One such incentive is the highly attractive Welcome Bonus that new users can benefit from upon signing up.

The amount awarded correlates with the initial deposit made within a set timeframe after creating an account, providing traders greater leverage as they embark on their trading journey.

Additionally, PrimeXBT implements a reward system that offers incentives to traders based on the size of their trades. This program includes three promotions: Easy Start, Trade & Earn, and Whale Trader.

Each promotion provides rewards upon achieving specific milestones in trading volume. For instance, reaching a trading volume of $1,000 grants access to “Easy Start” bonuses, while higher volumes warrant more substantial benefits categorized under “Whale Trader.”

Kenyan traders who actively participate can greatly benefit from these incentives as they receive proportional bonuses based on increased trade activity levels.

Moreover, the platform offers a Referral Bonus scheme that encourages traders in Kenya to suggest the platform to others. Once a successful referral and deposit by the referred trader are made, both parties receive compensation. This benefit cultivates unity within the community of traders.

PrimeXBT offers Kenyan traders the chance to participate in competitions and leaderboard challenges, often involving trade-specific goals or missions. Top performers on these leaderboards are duly rewarded.

Through such promotional events, trading competitiveness is boosted, providing Kenyan traders an opportunity to claim added rewards that enrich their experience with PrimeXBT’s offerings.

 

 

Are there any trading contests available on PrimeXBT?

Yes, PrimeXBT conducts regular trading competitions where participants vie for prizes denominated in cryptocurrencies.

 

Does PrimeXBT offer cashback rebates or similar promotions?

Yes, cashback rebates are provided by PrimeXBT, enabling users to recover a fraction of their monthly trading volume-based trading fees.

 

 

PrimeXBT Bonus Offers and Promotions

 

PrimeXBT Affiliate Program Features

 

Flexible Payout Options

 

Kenyan affiliates can choose Bitcoin, Ethereum, or Tether as their preferred pay-out option for added convenience and security. With these reliable payment methods in place, they need not worry about delays in receiving commissions, making financial transactions easier.

 

Versatile Revenue Models

 

In Kenya, affiliates are given the choice to choose from two lucrative revenue models. The first model is Cost-Per-Acquisition (CPA), which guarantees pre-agreed compensation of up to $1,500 for clients who deposit being referred successfully.

Alternatively, the Revenue Share model allows affiliates to earn an ongoing income by receiving a percentage cut of their referred customer’s trading volume in the long run.

 

Engaging Promotions and Contests

 

PrimeXBT ensures the engagement of its affiliates through regular program updates, exclusive promotions, and exciting contests. Kenyan partners can leverage these dynamic initiatives to gain a competitive advantage and maximize their financial gains.

 

Community and Support

 

Promoting interaction and collaboration among its affiliates is highly valued at PrimeXBT.

Affiliates in Kenya benefit immensely from the ease with which they can connect with their peers, share best practices, and swiftly seek support when needed. Such an environment fosters cooperation to provide essential assistance that facilitates success in this field.

 

Global Network and Support

 

PrimeXBT boasts an extensive global network and a committed team of affiliate support personnel. Kenyan affiliates can tap into this expansive resource to expand their horizons and reap the benefits of dedicated assistance and expertise from this steadfast group.

 

Comprehensive Analytics

 

Kenyan affiliates can utilize the Affiliate Dashboard to access current information on their campaign’s effectiveness. Valuable performance metrics, including earnings, hits, conversions, and individual referrals, are monitored by users through this comprehensive analytics system.

By leveraging these tools for analysis and optimization, affiliates gain insights to achieve more favorable results in their marketing campaigns.

 

Marketing Support

 

Kenyan affiliates can access an ample supply of pre-designed marketing materials, from advanced banners and captivating visuals to informative webinars and blog articles.

This wealth of resources grants the ability to create bespoke outreach campaigns that effectively appeal to Kenya’s diverse audience.

 

How to open an Affiliate Account with PrimeXBT

 

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

 

  • ✅ Typically, the ‘Affiliates‘ section can be located at the bottom of the homepage or in the primary menu of the official PrimeXBT website.
  • ✅ Upon clicking the ‘Affiliates’ link, you will be redirected to the PrimeXBT Affiliate Program page, which details the terms of participation and potential benefits of the program.
  • ✅ Initiate the affiliate program sign-up process by selecting the ‘Register’ or ‘Join Now’ icon on the affiliate program page.
  • ✅ You must establish a PrimeXBT trading account if you do not already have one. After providing your personal information (full name, email address, and a secure password) on the registration form, proceed with the standard account verification procedure.
  • ✅ After verifying and establishing your trading account, proceed to the ‘My Profile’ section and click on the ‘Become an Affiliate’ option. This will bring you to the affiliate application form.
  • ✅ The affiliate application form necessitates including certain information, namely personal details, preferred marketing channels, and the intended payment method for commissions.
  • ✅ Thoroughly review the Affiliate Agreement furnished by PrimeXBT, as it delineates the initiative’s obligations, commission framework, and additional pivotal intricacies.
  • ✅ Submit your application for review after selecting the appropriate checkbox to indicate your acceptance of the Affiliate Agreement’s terms.
  • ✅ The PrimeXBT team will evaluate your application within a typical timeframe of 24 to 48 hours after its submission. Be on the lookout for the approval notification in your email.
  • ✅ Upon approval, you will be granted access to the Affiliate Dashboard on PrimeXBT, including your unique referral link, marketing tools, and performance monitoring metrics.

 

 

Start using your referral link to endorse PrimeXBT via your preferred marketing channels (blog, social media, or other digital platforms). This will assist in enticing fresh traders to join the platform.

 

 

Is there a verification process for PrimeXBT Affiliate Account registration?

Yes, PrimeXBT may request additional information to verify your account before your affiliate status is activated.

 

Can I promote PrimeXBT on multiple websites or platforms as an affiliate?

Yes, you can advertise PrimeXBT on various platforms, provided that such platforms adhere to the terms and conditions of the program.

 

What commission models are available in the PrimeXBT Affiliate Program?

PrimeXBT provides a tiered commission structure that enables affiliates to increase their earnings proportionately to the trading volume of the users they refer.

 

How often are affiliate commissions paid out on PrimeXBT?

Commissions are paid to the PrimeXBT affiliate account every month and are calculated daily.

 

 

PrimeXBT Affiliate Program Features

 

PrimeXBT Awards and Recognition

 

PrimeXBT received the following recent awards and recognition:

 

 

 

and many, MANY more!

 

PrimeXBT Awards and Recognition

 

PrimeXBT Minimum Deposit

 

🔎 Live Account💴 Minimum Dep.
🥇 Standard/Live Account0.001 BTC (44 USD)

 

 

Does the minimum deposit on PrimeXBT vary with different payment methods?

No, the minimal deposit amount remains unchanged regardless of the payment method.

 

What is the advantage of PrimeXBT’s minimum deposit compared to competitors?

A broad variety of traders can enroll due to PrimeXBT’s low minimum deposit requirement, which enables them to begin with a comparatively modest capital outlay.

 

 

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 live trading account offered by PrimeXBT is suitable for novice and seasoned traders. This universal account type eliminates the complex selection process from multiple tiers, simplifying the overall trading experience.

It benefits Kenyan traders by offering immediate access to a wide range of tradable instruments such as cryptocurrencies, Forex pairs, commodities, and indexes.

Additionally, users can deposit currencies, including BTC, ETH, USDT, and USDC, allowing them to trade across major cryptocurrencies.

The straightforward registration process and an attractive minimum deposit make it appealing to all skill levels in Kenya, enabling many to easily enter the exciting world of online trading.

 

🔎 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 offers demo accounts via trading contests to enhance trading skills without risking funds. Kenyan traders can take part in these simulated trades to assess the platform’s abilities and become familiar with market conditions while practicing their strategies risk-free before investing actual money.

This tool is particularly helpful for newbies and experienced traders exploring novel approaches.

Although each contest may vary, its overall value lies in offering a non-threatening learning opportunity that presents chances of winning real prizes based on performance success within chosen competitions.

 

Pros and Cons – PrimeXBT Account Types and Features

 

✅ Pros❎ Cons
PrimeXBT offers a flexible trading account with access to over 110 financial instrumentsThere is only one retail account
Kenyans can easily and quickly open a trading account with PrimeXBT onlineKenyans cannot register a KES-denominated account with PrimeXBT

 

 

What leverage can traders use on PrimeXBT accounts?

PrimeXBT enables users to employ leverage of up to 1:1000 when trading Forex and 1:100 when trading specific cryptocurrencies.

 

What features are included in the PrimeXBT live account?

Access to a vast array of trading instruments, competitive spreads, and leverage options are all features of the PrimeXBT live account.

 

 

PrimeXBT Demo Account

 

How to Open and Close a PrimeXBT Account

 

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

 

  • ✅ Start by visiting the PrimeXBT website. The “Register” button is prominently featured on the homepage.
  • ✅ To access the registration form, click the “Register” button. You will be asked to enter your email address and create a strong password. To improve your account’s security, ensure your password is strong and includes letters, numbers, and special characters.
  • ✅ After completing your details, agree to PrimeXBT’s terms and conditions. Once you have completed this, submit the form to begin the registration process.
  • ✅ PrimeXBT will send a confirmation email to the address you gave during registration. Go to your email inbox, find the PrimeXBT email, and click the verification link. This step is required to activate your new trading account.
  • ✅ After verifying your email, log in to your PrimeXBT account with your generated credentials.
  • ✅ Select your desired deposit currency from your account dashboard. While PrimeXBT does not directly support the Kenyan Shilling (KES), you can select from several other currencies and cryptocurrencies. Bitcoin (BTC), Ethereum (ETH), USDT, and USDC are all available options. Choose the currency that matches your trading strategy and deposit preferences.
  • ✅ To deposit, select your preferred currency and navigate to your account’s ‘Deposit’ area. You will be given a variety of deposit alternatives.
  • ✅ If you deposit Bitcoin (BTC), you will receive a unique wallet address in your PrimeXBT account. Transfer your BTC from your external wallet to this PrimeXBT wallet using the platform-specific instructions.
  • ✅ If you choose not to use Bitcoin directly, alternative deposit methods are ADVCash and Perfect Money. These solutions provide flexibility and ease.
  • ✅ Follow the on-screen instructions from PrimeXBT to authenticate the transaction and guarantee that the funds are safely sent to your PrimeXBT account.

 

 

Start trading once your deposit is processed and funds are available in your PrimeXBT account. Explore the platform’s features and begin implementing your trading plans with confidence.

 

How to Close a PrimeXBT Account

 

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

 

  • ✅ Log in to your PrimeXBT account with your registered email address and password to begin the account closure procedure.
  • ✅ Before proceeding, ensure all open positions are canceled; an account with ongoing transactions cannot be deleted.
  • ✅ Go to the ‘Wallet’ section and withdraw the remaining balance. Select your preferred withdrawal option, enter the necessary information, and confirm the transaction to transfer your funds to an external wallet or another account.
  • ✅ After successfully withdrawing your cash, please contact PrimeXBT customer service. You can contact them via the website’s support section or email their customer service team.
  • ✅ Inform the support personnel that you intend to close your account. Provide any information they need and follow their directions, including validating your identity for security reasons.
  • ✅ The support team will walk you through the procedure, and you may be asked to fill out a form or confirm your request over a secure link.
  • ✅ Wait for confirmation from PrimeXBT support that your account termination request has been processed. Ensure you receive an email or a direct confirmation message from the platform stating that your account is inactive.

 

 

Once you obtain the final confirmation, your relationship with PrimeXBT will be formally terminated, and your account will be closed.

 

 

How long does it take to open a PrimeXBT account?

Creating a PrimeXBT account takes only a few minutes, after which you will be prompted for email verification.

 

Do I need to deposit funds immediately after opening a PrimeXBT account?

Although an initial deposit is not mandatory, it is a prerequisite to commence trading on the PrimeXBT platform.

 

Are there any fees associated with closing a PrimeXBT account?

No, there are no fees associated with terminating an account with PrimeXBT.

 

Is there any specific information required when requesting to close a PrimeXBT account?

To verify ownership, you might be required to furnish identification or account information when requesting to end your PrimeXBT account.

 

 

How to Open and Close a PrimeXBT Account

 

PrimeXBT Base Account Currencies and Basic Order Types

 

The base account currencies available to Kenyans 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

 

With its innovative approach, Covesting from PrimeXBT is a unique copy trading platform that extends an exceptional chance for Kenyan traders to join the global markets.

By enabling novice traders to mimic the transactions of seasoned professionals, this tool democratizes access to trading methods previously inaccessible by ordinary investors.

For Kenyan traders who face time or analytical limitations, Covesting is a revolutionary platform. By selecting a monitoring strategy, users can seamlessly imitate the trades of accomplished investors and profit from their knowledge without extra effort.

This feature proves particularly helpful in an industry where skill levels vary widely. Moreover, Covesting’s openness permits Kenyan traders to review past performances of strategy managers before choosing which methods suit them best.

In addition, the benefit of this feature extends beyond just benefiting followers. With Covesting, talented Kenyan traders can establish themselves as strategy managers and receive success fees from their followers for maintaining exceptional performance.

As a result, a mutually beneficial environment exists where both parties share in each other’s successes and thrive together.

Covesting offers a dual advantage to the trading community in Kenya. It empowers novice traders with learning opportunities and earning potential through exposure to expert insights while also granting seasoned traders a platform for expanding their reach and profiting from their skills.

 

 

Can I earn money as a strategy provider on PrimeXBT’s social trading platform?

Yes, strategy providers receive a success charge from the profits generated by their followers on the Covesting module of PrimeXBT.

 

Do I need to be an experienced trader to engage in social trading on PrimeXBT?

No, social trading on PrimeXBT is accessible to traders of all experience levels, including novices interested in gaining knowledge from seasoned professionals.

 

 

Social Trading with PrimeXBT

 

PrimeXBT Trading Platforms

 

PrimeXBT is a tailor-made trading platform crafted to cater to the varying demands of traders in Kenya.  As it is web-based, there’s no requirement for downloading or installing software – which proves advantageous for those seeking easy accessibility on various devices and also have limited storage space.

Kenyan traders find PrimeXBT’s charting capabilities highly attractive since they can utilize advanced tools for intricate market analyses and informed trading decisions, especially in the unpredictable forex and cryptocurrency markets now drawing more Kenyans.

In addition, the platform provides a one-click trading option that hastens trade execution and proves to be pivotal in taking advantage of rapid market changes – which is common in Kenya’s high-speed trading atmosphere.

Additionally, traders can tailor their trading environment according to their preferences through the customizable layout feature offered by the platform. This improves user experience and potentially augments transaction efficiency.

To cater to Kenya’s growing mobile trading trend, PrimeXBT offers Android and iOS smartphone apps.

These handy platforms allow Kenyan traders to make timely trades on the move, keep abreast of real-time market information, and react quickly to news and events that have become crucial in today’s interconnected economy.

 

Pros and Cons – PrimeXBT Trading Platforms

 

✅ Pros❎ Cons
Traders have access to PrimeXBT’s feature-rich platform across devicesMetaTrader 4, MetaTrader 5, and cTrader are not supported by PrimeXBT

 

 

Is mobile trading available on PrimeXBT?

Yes, PrimeXBT provides a mobile application for iOS and Android devices, enabling users to trade while on the move.

 

Does PrimeXBT’s trading platform have a demo version?

Yes, through its trading competitions, PrimeXBT offers a prototype trading experience but not a conventional standalone demo account.

 

 

PrimeXBT Trading Platforms

 

Which Markets Can You Trade with PrimeXBT?

 

Kenyan 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🥈 LiteFinance🥉 FXPesa
📈 Forex✅Yes✅Yes✅Yes
💎 Precious Metals✅Yes✅Yes✅Yes
📉 ETFsNoneNone✅Yes
📊 CFDs✅Yes✅Yes✅Yes
💹 Indices✅Yes✅Yes✅Yes
📌 StocksNone✅Yes✅Yes
🪙 Cryptocurrency✅YesNoneNone
📍 OptionsNoneNoneNone
💡 Energies✅Yes✅Yes✅Yes
💱 BondsNoneNoneNone

 

Pros and Cons – PrimeXBT Range of Markets

 

✅ Pros❎ Cons
PrimeXBT offers several CFD and forex instruments to KenyansPrimeXBT’s product portfolio is limited compared to other brokers
Kenyans can use flexible leverage across instrumentsThere are no local Kenyan CFDs offered

 

 

Can I trade Kenyan stocks or CFDs on PrimeXBT?

No, PrimeXBT does not provide trading in Kenyan securities or CFDs.

 

What Forex pairs are available on PrimeXBT?

PrimeXBT provides 51 distinct Forex trading pairs, including minor, major, and exotic pairs.

 

 

Which Markets Can You Trade with PrimeXBT

 

PrimeXBT Fees, Spreads, and Commissions

 

PrimeXBT Spreads

 

The variance between a financial asset’s buying and selling prices is called spreads. PrimeXBT boasts narrow spreads, approximately 0.05% for significant Forex pairings, with potential reductions observed in select cryptocurrency combinations.

For Kenyan investors, especially those executing frequent or substantial transactions, competitive spreads lead to decreased transaction expenses, translating into amplified trading success rates.

 

PrimeXBT Commissions

 

PrimeXBT implements a maker-taker fee system for trade transactions, wherein makers are charged 0.05% as they provide liquidity to the market. In contrast, takers who remove liquidity from it are charged with a slightly higher rate of 0.075%.

Kenyan traders can use this model to their advantage by strategically placing orders and possibly reducing their overall trading expenses.

 

PrimeXBT Overnight Fees

 

Swap also referred to as overnight holding fees for leveraged positions, are subject to fluctuations in market conditions and vary based on the interest rate differential of the assets involved.

Kenyan traders should take note of these expenses due to their potential cumulative effect when maintaining long-term or overnight positions.

 

PrimeXBT Deposit and Withdrawal Fees

 

Deposits made via a range of cryptocurrencies at PrimeXBT are usually devoid of charges. However, withdrawal fees apply and vary based on the crypto network. Kenyan traders should stay informed about these stipulated costs to avoid being caught off guard by unexpected levies.

 

PrimeXBT Inactivity Fees

 

Kenyan traders should know that a monthly charge of 0.005 BTC will apply to unused accounts for three months or more. This fee is intended to motivate frequent trading and prompt withdrawal of funds from the platform during extended periods of inactivity.

 

PrimeXBT Currency Conversion Fees

 

Traders in Kenya might face conversion charges while depositing or withdrawing funds in currencies other than Bitcoin.

The fees might differ as per the payment provider. They can be an ongoing expense for traders who convert between KES and the supported currencies of their platform, considering the limited direct Kenyan Shilling support available.

 

Pros and Cons – PrimeXBT Trading and Non-Trading Fees

 

✅ Pros❎ Cons
Kenyans can expect a transparent fee schedule on the PrimeXBT websitePrimeXBT charges inactivity fees
Kenyans do not pay deposit feesKenyans might face currency conversion fees
The charges are competitive across markets and instrumentsPrimeXBT charges withdrawal fees

 

 

How do spreads on PrimeXBT compare to other brokers?

Market-competitive tight spreads beginning at 0.05% are available for main forex pairs at PrimeXBT.

 

Are there any inactivity fees on PrimeXBT?

Yes, PrimeXBT charges a monthly inactivity fee of 0.005 BTC following three months of inactivity.

 

 

PrimeXBT Fees, Spreads, and Commissions

 

PrimeXBT Deposits and Withdrawals

 

PrimeXBT offers Kenyan traders the following deposit and withdrawal methods:

 

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

 

How to make a Deposit with PrimeXBT

 

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

 

  • ✅ Start by entering your secure credentials to access your PrimeXBT account.
  • ✅ Proceed to locate the ‘Deposit’ section on the primary dashboard of your account.
  • ✅ You shall be required to indicate your preferred deposit currency at this juncture. PrimeXBT does not support SGD for deposits at this time. Please select one of the available cryptocurrencies, such as Bitcoin (BTC).
  • ✅ PrimeXBT will generate a unique wallet address associated with the selected cryptocurrency upon selection. Carefully replicate this wallet address or utilize the QR code provided for transactions.
  • ✅ Establish an account on an external cryptocurrency storage or exchange where you maintain funds. Commence a fund transmission to the wallet address that was obtained via PrimeXBT.
  • ✅ Enter the quantity of cryptocurrency you wish to deposit, ensuring that it satisfies any PrimeXBT-established minimum deposit requirements.

 

 

Verify the accuracy of the transaction information and grant permission for the funds to be transferred to your PrimeXBT wallet.

 

 

How long do PrimeXBT Deposits take?

The deposit times for PrimeXBT depend on the congestion and transaction fees of the cryptocurrency network. While Bitcoin confirmation durations may vary, incoming deposits are promptly processed by PrimeXBT once they receive necessary confirmations from the network.

Kenyan traders can usually access their funds within a few minutes to a few hours after depositing. This typical processing time may be extended during peak traffic periods.

To facilitate prompt deposits, it is important to consider ongoing updates regarding network status and associated transaction fees at all times.

 

What cryptocurrencies can I use for deposits on PrimeXBT?

BTC, ETH, USDT, and USDC are all acceptable for deposits with PrimeXBT.

 

What should I do if my deposit to PrimeXBT has not appeared in my account?

Verify the transaction on the blockchain for confirmation and contact PrimeXBT customer support if the deposit has been confirmed but not yet credited if your deposit has not yet been credited.

 

 

How to Withdraw from PrimeXBT

 

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

 

  • ✅ Utilize the PrimeXBT website to access your PrimeXBT trading account by inputting your login credentials.
  • ✅ Proceed to locate the ‘Withdraw’ section, which is commonly located in the interface area of the account.
  • ✅ From the available options, select the currency in which you wish to withdraw, including Bitcoin (BTC), Ethereum (ETH), USDT, or USDC. Kenyan traders should note that PrimeXBT does not support direct withdrawals in Kenyan Shillings (KES).
  • ✅ After determining the withdrawal currency of your choice, you will be prompted to input the desired withdrawal quantity, ensuring that it complies with the minimum withdrawal requirements of the platform.
  • ✅ Enter the address of the external wallet where the funds will be received. This information must be verified twice to guarantee the funds are transmitted to the intended address.

 

 

Submit your request for withdrawal once you have verified that all the information is accurate. Depending on the security parameters of your account, you might be required to complete an additional security verification step, such as a 2FA (Two-Factor Authentication) prompt.

 

 

How long do PrimeXBT Withdrawals take?

PrimeXBT withdrawal periods are subject to variation due to several factors. The withdrawal team will generally process the PrimeXBT request following its submission.

The blockchain network must confirm the transaction after processing; this procedure can vary from a few minutes to several hours. This timeline may be impacted by network congestion and the transaction fees that attend to it.

Kenyan traders ought to be prepared because although certain withdrawals might be processed promptly, others might require a more extended duration, particularly when network activity is at its peak.

Additionally, to prevent potential delays, withdrawals should be initiated during the operational hours of the cryptocurrency networks.

 

Are there any fees associated with withdrawing from PrimeXBT?

Yes, withdrawal fees differ among cryptocurrency networks and are assessed by PrimeXBT.

 

How do I ensure the security of my funds during the withdrawal process from PrimeXBT?

When conducting transactions on PrimeXBT, verify the accuracy of the recipient address, utilize secure networks, and contemplate the implementation of two-factor authentication (2FA) for heightened security.

 

 

PrimeXBT Deposit Currencies, Deposit and Withdrawal Processing Times

 

🔎 Payment Method🪙 Deposit Currencies⏰ Deposit Processing⏱️ Withdrawal Processing
1️⃣ Direct CryptoBTC, USDT, ETH, USDCInstantInstant
2️⃣ MetaMask WalletETH, USDT, USDC, COVInstantInstant
3️⃣ AdvCashUSDInstantInstant – 48 hours
4️⃣ Perfect MoneyUSDInstantInstant – 48 hours
5️⃣ Bank Card (Crypto Purchase)BTC, ETH, USDT, USDCInstantInstant

 

Broker Comparison: Deposit and Withdrawals

 

🔎 Broker🥇 PrimeXBT🥈 LiteFinance🥉 FXPesa
⏰ Minimum Withdrawal TimeInstantInstantInstant
⏱️ Maximum Estimated Withdrawal TimeDepends on the payment method – a few minutes to 48 hoursUp to 5 working daysUp to 15 working days
⏲️ Instant Deposits and Instant Withdrawals✅Yes✅Yes✅Yes

 

Pros and Cons – PrimeXBT Deposits and Withdrawals

 

✅ Pros❎ Cons
Instant deposits and withdrawals are availableKenyans face currency conversion fees
Kenyans can make multi-currency deposits and withdrawalsPrimeXBT offers limited payment methods
PrimeXBT offers a safe, reliable payment portal to KenyansThere are no local Kenyan payment methods supported like M-PESA or mobile money

 

 

Does PrimeXBT allow KES deposits?

No, PrimeXBT does not support direct KES deposits; BTC, ETH, USDT, USDC, or COV are acceptable deposit methods.

 

Are PrimeXBT’s deposit and withdrawal methods secure?

Yes, PrimeXBT guarantees the security and dependability of all deposit and withdrawal methods.

 

 

PrimeXBT Deposits and Withdrawals

 

PrimeXBT Education and Research

 

PrimeXBT offers the following Educational Materials to Kenyan traders:

 

  • ✅ Platform Guides
  • ✅ Trading and Crypto Guides

 

PrimeXBT also offers Kenyan 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🥈 LiteFinance🥉 FXPesa
✏️ Economic Calendar✅Yes✅YesNone
📔 VPSNone✅YesNone
📚 AutoChartistNoneNoneNone
📒 Trading ViewNoneNone✅Yes
📑 Trading CentralNoneNoneNone
🗃️ Market Analysis✅Yes✅YesNone
🗄️ News Feed✅Yes✅Yes✅Yes
📇 Blog✅Yes✅Yes✅Yes

 

Pros and Cons – PrimeXBT Education and Research

 

✅ Pros❎ Cons
More advanced traders will find PrimeXBT’s resources valuable to make informed trading decisionsVPS solutions are not available from PrimeXBT
Kenyans can access trading, crypto, and platform guides on the PrimeXBT websiteThere is a limited number of educational materials offered to beginners

 

 

Are there any research and trading tools available on PrimeXBT?

Yes, PrimeXBT provides price charts, long/short trading information, Bitcoin leverage information, copy trading, and a trading schedule.

 

How comprehensive does PrimeXBT provide the market analysis?

Although PrimeXBT’s market analysis incorporates many resources, it might not offer the same level of comprehensiveness as the specialized services offered by other platforms focusing on market research.

 

 

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
PrimeXBT’s customer support is available on several platforms, including Reddit, Discord, Telegram, etc.There is no local office in Kenya and no localized support in Swahili

 

 

What methods can I use to contact PrimeXBT Customer Support?

Customer Support for PrimeXBT can be reached via email, live chat, or their official social media channels.

 

How quickly does PrimeXBT Customer Support respond to inquiries?

Typically, inquiries are attended to within minutes via live chat and within 24 hours via email by PrimeXBT Customer Support.

 

 

PrimeXBT Customer Support

 

PrimeXBT Cashback Rebates Features and Conditions

 

PrimeXBT’s Cashback Rebates program offers Kenyan traders an irresistible chance to reduce their trading costs. This initiative is not exclusive to just the traders in Kenya but instead serves as a profitable avenue for all platform users looking to save more while conducting trades.

The program guarantees traders higher returns based on the increase in their monthly trading volume through a tiered system.

Traders can receive a rebate based on their monthly trade volumes. If they have less than 100 BTC traded in a month, they are eligible for a 5% rebate.

For those with more than 100,000 BTC traded in a month, the maximum possible rebate is 20%. Based on their trading volume tier, traders may save significantly and potentially earn between .05 to .2 BTC per Bitcoin paid out as transaction fees.

To qualify for the reimbursements, traders must actively request their Bitcoin refunds during a specific monthly timeframe. It is important to note that rewards do not roll over automatically into the next month, so meeting deadlines is crucial to avoid forfeiting accumulated incentives.

However, it must be emphasized that not all fees are eligible for a rebate. The program’s criteria for eligibility only apply to trading fees incurred from margin positions.

Fees such as overnight charges, withdrawal, and currency conversion expenses do not qualify. Certain CFDs may also fall outside the scope of the promotional rebates offered.

 

PrimeXBT Cashback Rebates Features and Conditions

 

PrimeXBT Corporate Social Responsibility

 

PrimeXBT’s website may not have a section dedicated to CSR, but the organization showcases an unwavering commitment to corporate social responsibility through various impressive initiatives.

Notably, PrimeXBT emphasizes community service and financial education that truly stand out.

PrimeXBT aims to provide valuable educational resources through articles and seminars as part of its mission. These materials can greatly benefit those who aspire to become traders, especially in economies that are still developing, like Kenya.

By offering comprehensive yet easily understandable content, PrimeXBT empowers users with a deeper knowledge of finance and helps them improve their trading skills.

Another commendable effort is implementing a referral program that motivates users to share their expertise. This initiative promotes an environment that actively fosters knowledge exchange by fostering a community spirit and mutual aid among traders.

Adopting this collaborative approach not only brings benefits to individual traders but also helps expand the trading network as a whole.

Despite the absence of official corporate social responsibility (CSR) programs, PrimeXBT’s focus on financial education and community involvement lays a solid foundation for meaningful impact in fintech.

These efforts showcase a genuine dedication to promoting positive change within the business sector and instilling confidence in individuals.

 

 

What is the maximum cashback rebate I can receive on PrimeXBT?

20% of the trading fees paid is the maximum cashback rebate that can be obtained on PrimeXBT; this amount depends on the monthly trading volume.

 

Do cashback rebates on PrimeXBT expire?

Yes, unclaimed cashback rebates on PrimeXBT are subject to expiration and do not carry over to the following month.

 

 

PrimeXBT Corporate Social Responsibility

 

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 Kenyan traders who choose PrimeXBT

 

PrimeXBT is one of the top 150 brokers and trading platforms in Kenya.

 

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%
📑 Pages per Visit5.73
⏰ Average Duration of Visit00:02:59

 

 

Can Kenyan traders access PrimeXBT’s platform?

Yes, PrimeXBT extends an extensive range of trading assets and instruments to Kenyan traders.

 

Does PrimeXBT offer local Kenyan currency accounts?

No, PrimeXBT does not provide Kenyan Shilling (KES)-denominated accounts.

 

 

PrimeXBT Geographic Reach and Limitations

 

PrimeXBT vs LiteFinance vs FXPesa – A Comparison

 

🔎 Broker🥇 PrimeXBT🥈 LiteFinance🥉 FXPesa
📈 RegulationLicensed in Seychelles and The Marshall IslandsCySECFCA, CMA
📉 Trading PlatformPrimeXBTMetaTrader 4
MetaTrader 5
cTrader
LiteFinance Trading App
MetaTrader 4
MetaTrader 5
Equiti Trader App
📊 Withdrawal Fee✅YesNone✅Yes
🆓 Demo Account✅ Yes, with contests✅Yes✅Yes
💴 Min Deposit7,000 KES1,600 KES4,500 KES
💹 Leverage1:10001:5001:400
▶️ SpreadFrom 0.05%0.0 pips0.0 pips
💵 Commissions0.05%$0.25 per share on Stock Indices$7
⛔ Margin Call/Stop-OutFlexible100%/20%100%/30%
🖇️ Order ExecutionInstantMarketMarket
🎁 No-Deposit BonusNoneNoneNone
🪙 Cent AccountsNoneNoneNone
📌 Account TypesLive AccountCENT
CLASSIC
ECN
Executive Account
Premiere Account
⏰ Customer Service Hours24/724/524/6
📍 Retail Investor Accounts122
☪️ Islamic AccountNone✅Yes✅Yes
➖ Minimum Trade Size0.01 lots0.01 lots0.01 lots
➕ Maximum Trade SizeFlexible100 lots150 lots
⏱️ Minimum Withdrawal TimeInstantInstantInstant
⏲️ Maximum Estimated Withdrawal TimeDepends on the payment method – a few minutes to 48 hoursUp to 5 working daysUp to 15 working days
⌚ Instant Deposits and Instant Withdrawals✅Yes✅Yes✅Yes

 

PrimeXBT vs LiteFinance vs FXPesa - A Comparison

 

PrimeXBT Alternatives

 

🥇 IC Markets

IC Markets, an Australian broker, is favored by Kenyan traders due to its competitive margins, zero-pip spreads, and various payment methods for deposits and withdrawals. The cTrader platform is highly regarded for its intuitive design and provides a wealth of educational materials that are highly beneficial in enhancing one’s proficiency in forex trading. Furthermore, IC Markets guarantees prompt withdrawals, guaranteeing easy access to your profits.

 

 

🥈 Pepperstone

For added peace of mind, Kenyan traders seeking a reputable broker can rely on Pepperstone, regulated by the FCA. Pepperstone accommodates various account types suitable for traders of all experience levels with a low minimum deposit requirement. By utilizing the Smart Order Router function, users are assured of accessing advantageous foreign exchange rates.

 

 

🥉 FXTM

FXTM provides an accommodating minimal deposit requirement of $10 and commission-free account options to accommodate Kenyan traders on a budget. For specific requirements, they also offer swap-free Islamic accounts; their round-the-clock Swahili support is an additional plus. By utilizing market analysis and educational seminars, FXTM guarantees that you remain well-informed and equipped to navigate the ever-changing forex environment confidently.

 

 

PrimeXBT Alternatives

 

Our Experience with PrimeXBT

 

Our experience with PrimeXBT has been highly positive so far. The platform offers diverse trading instruments and a user-friendly interface catering to novice traders and seasoned professionals. One key benefit is the ability to trade multiple asset classes – including cryptocurrencies, foreign exchange, and commodities – from a single location, which streamlines our operations significantly.

We appreciate that leveraging options and competitive spreads are available on this platform, as these have enhanced our trading strategies by improving responsiveness while giving us the potential for greater profits overall.

Transactions at PrimeXBT are completed quickly, attributed to efficient implementation, ensuring we can take advantage of market opportunities in volatile situations.

This is especially true considering that timing matters most, increasing efficiency across all trades executed through their environment regularly subject to exposure dangers inherent within high-frequency financial markets.

 

PrimeXBT Trading Platform

 

PrimeXBT’s trading platform is a reliable and sturdy solution that has earned its reputation. The user-friendly interface allows even novice traders to navigate and execute trades seamlessly.

Its charting tools are comprehensive enough for comparable analysis against more established platforms. Moreover, customization options have provided numerous advantages in adapting the trading environment according to specific preferences.

We trust PrimeXBT’s stability in handling high traffic and volatility as we execute transactions without worrying about disruptions or downtime affecting our activities on this platform.

 

Quality of Customer Service

 

PrimeXBT’s customer service has exceeded expectations. The readily available support team is a standout feature, offering assistance anytime to ensure prompt resolution of inquiries.

With their knowledgeable and attentive approach, the multilingual staff consistently provides clear responses promptly via live chat or email – overcoming any potential drawbacks from not having phone support.

Interactions with PrimeXBT are always positive experiences thanks to their representatives’ unwavering professionalism and courteousness towards customers.

 

Our Experience with PrimeXBT

 

Recommendations according to our in-depth review of PrimeXBT

 

By providing Kenyan traders with consistent research and analysis of market trends that impact the Kenyan economy and financial markets would be an invaluable asset. Traders would be able to make more informed trading judgments with the assistance of this data. Furthermore:

 

  • ✅ Enhancing regulatory compliance within the financial system of Kenya would engender a heightened sense of confidence and reliability among traders in Kenya. This action would serve to reinforce PrimeXBT’s dedication to establishing a trading environment in Kenya that is both secure and transparent.
  • ✅ To foster increased Kenyan trader engagement and promote active trading, it is recommended that PrimeXBT implement market-specific incentives and bonuses. The incentives may be strategically crafted to correspond with the trading inclinations and goals of traders based in Kenya.
  • ✅ PrimeXBT should contemplate incorporating the Kenyan shilling (KES) as a supported currency for trading, deposits, and withdrawals to streamline operations for Kenyan clientele and eradicate the need for currency conversion fees.
  • ✅ PrimeXBT offers extensive training resources customized to accommodate varying degrees of trader proficiency. These resources prioritize critical subjects, including risk management, market analysis, and leverage trading. Kenyan traders, especially those new to the industry, would benefit greatly from this educational assistance.
  • ✅ PrimeXBT may consider integrating sophisticated risk management functionalities tailored to the Kenyan market’s volatile characteristics to augment its platform. This would facilitate Kenyan traders in making well-informed trading decisions and effectively managing their risk exposure.

 

 

Finally, by providing customer support in the local languages and possessing extensive knowledge of the Kenyan market, an organization can greatly improve the overall user experience. Kenyan traders would feel more connected to the platform and be able to resolve issues more efficiently due to this strategy.

 

PrimeXBT Customer Reviews

 

🥇 Excellent App.

PrimeXBT’s mobile app has become my go-to tool for mobile trading. It is quite convenient, allowing me to perform transactions while commuting. However, late-night market volatility can result in some explosive moments. – Lucy Anderson

 

 

🥈 Slick and Sophisticated.

PrimeXBT’s user interface is slick and sophisticated, similar to a professional trading platform. However, I must acknowledge that the learning curve can be severe, especially for newbies. Despite this, the opportunity for significant margin increases makes it a platform worth investigating. – Michael Chege

 

 

🥉 Very Happy!

PrimeXBT fees may vary based on market situations, but the platform’s competitive spreads have always appealed to me. The low cost of trading here appeals to traders like me. – Jane Kimani

 

 

PrimeXBT Pros and Cons

 

✅ Pros❎ Cons
PrimeXBT’s affiliate program provides an additional cash source for Kenyan tradersThe absence of MetaTrader platforms may be a disadvantage for Kenyan traders
PrimeXBT’s dedication to rigorous security standards, such as SSL encryption and cold asset storageThe lack of regulation by Kenyan authorities or renowned tier-1 jurisdictions might cause some Kenyan traders to be concerned about oversight and long-term trustworthiness
Kenyan traders can engage in trading contests, which can be used as both a learning tool and a way to make extra moneyKenyan traders cannot deposit or withdraw funds directly in Kenyan Shillings due to a lack of local bank account connectivity
The platform’s user interface is designed for easy navigation, making it accessible to Kenyan traders with varied levels of experienceKenyan traders who prefer long-term holdings may discover that overnight fees on leveraged positions dissuade them from trading for long periods
Kenyan traders can trade a wide range of assets on a single platformThe platform does not provide Islamic accounts

 

 

PrimeXBT Risk Warning and Disclaimer for Traders:   Engaging in trades on PrimeXBT entails significant risk and might not be appropriate for every investor from Kenya. Leveraged trading and the high volatility of cryptocurrencies can lead to substantial financial losses.

A comprehensive understanding of the intricacies of trading, implementing a strong risk management strategy, and investing only in what you are willing to lose are all critical components.  Kenyan traders ought to maintain vigilance regarding market volatility, abrupt price changes, and the possibility of swift capital depletion.

It is recommended that individuals acquire knowledge, consult with experts when necessary, and thoughtfully assess their risk tolerance before participating in trading endeavors on PrimeXBT.  The potential for capital loss exists, and historical performance does not guarantee forthcoming outcomes.

 

 

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 Kenyan 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

 

PrimeXBT emerges as an appealing trading platform for Kenyan traders, offering a variety of intriguing features and perks. Its user-friendly interface is designed to appeal to rookie and expert traders, making it accessible to a wide range of Kenyans.

Furthermore, Kenyan investors have easy exposure to various financial markets thanks to a low deposit threshold and various tradable assets such as cryptocurrencies, currencies, and commodities.

Nonetheless, our analysis highlights the hazards associated with leverage, particularly in Kenya’s typically volatile trading environment. Understanding and properly managing leverage is critical for mitigating potential losses.

One potential disadvantage is the lack of direct support for the Kenyan Shilling, which may result in currency translation expenses for traders.

However, our first-hand experience with PrimeXBT demonstrates the platform’s commitment to security. Implementing cold storage for digital assets and two-factor authentication demonstrates their commitment to protecting user monies.

 

Frequently Asked Questions

 

What can I trade on PrimeXBT?

PrimeXBT enables trading cryptocurrencies, foreign exchange, commodities, and stock indices.

 

How can I withdraw money from my PrimeXBT account?

Withdrawal options for PrimeXBT funds include transferring funds to a bank account or a cryptocurrency wallet.

 

Is PrimeXBT safe to use?

PrimeXBT protects your funds with various security measures, including two-factor authentication, cold storage for most cryptocurrency holdings, and DDoS protection.

 

Does PrimeXBT have Nasdaq 100?

Yes, the Nasdaq 100 can be traded on the PrimeXBT platform as a CFD on indices.

 

How can I learn more about trading on PrimeXBT?

A variety of educational resources are provided by PrimeXBT, such as a trading academy, webinars, and blog posts.

 

Is PrimeXBT Safe or a Scam?

PrimeXBT is a safe broker for Kenyans despite its lack of local regulation.

 

How can I deposit money into my PrimeXBT account?

Funding your PrimeXBT account with a credit card, Bitcoin, Ethereum, Tether, or USD Coin is possible.

 

Is PrimeXBT regulated?

No, PrimeXBT is not regulated. However, PrimeXBT’s Seychelles and The Marshall Islands registrations can be viewed on the website.

 

Is PrimeXBT legal in Kenya?

Yes, the use of PrimeXBT is authorized in Kenya. However, the Capital Markets Authority (CMA) has no regulations regarding cryptocurrency trading platforms.

 

How long does it take to withdraw from PrimeXBT?

Withdrawals depend on the method used but typically take a few minutes (near-instant) to a few hours.

 

What is the minimum deposit on PrimeXBT?

Minimum deposits on PrimeXBT are 0.001 BTC or approximately 7,000 KES.

 

Does PrimeXBT have VIX 75?

No, Kenyans cannot trade VIX 75 with PrimeXBT.

 

Can I use PrimeXBT on my mobile phone?

Yes, PrimeXBT offers a mobile application for trading while traveling.

 

What are the fees on PrimeXBT?

A trading fee of 0.05% is levied per taker order, and 0.01% is levied per producer order by PrimeXBT. Additionally, withdrawal fees apply and differ based on the specific cryptocurrency being withdrawn.

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