PrimeXBT Fees Uncovered: Maximize Your Trading Potential

I rank trading fees as the most defining aspect of a broker’s attractiveness, as they directly impact profitability, determine the trading environment’s competitiveness, and reveal which strategies a broker actively supports and passively discourages. I evaluated the PrimeXBT fees during my in-depth review of the broker. Learn about the trading and non-trading fees at PrimeXBT to help you compare them to those offered by other brokers. Curious how competitive PrimeXBT fees? Let’s find out below.

Overview of PrimeXBT Fees

PrimeXBT accounts average commission-free Forex spreads of 0.9 pips and cryptocurrency commissions between 0.01% and 0.045%.

Here is a snapshot of PrimeXBT fees:

PrimeXBT Fees, Spreads, and Commission Explained

Traders must understand the PrimeXBT fees to know what they pay per trade. This also enables them to compare costs to other brokers to determine if PrimeXBT offers a competitive cost structure. Traders can evaluate trading fees in the PrimeXBT demo account.

PrimeXBT Trading Fees

• Spreads (Average spreads from 0.1 pips)
• Commissions (cryptocurrency commission between 0.01% and 0.045%)
• Swap rates (charged on leveraged overnight positions)
• Currency conversion fees (undisclosed)

PrimeXBT Non-trading Fees

• Deposit fees (not applicable)
• Withdrawal fees (currency-dependent and fixed)
• Inactivity fees (undisclosed)
• Currency conversion fees (undisclosed)

PrimeXBT Trading Fees

PrimeXBT trading fees depend on the asset, apply to each transaction, and are the most frequent fees traders pay. Currency conversion fees apply if the asset quote currency differs from the account base currency.

Here is an overview of average PrimeXBT trading fees:

Overnight Fees (Swap Rates)

Swap rates are the trading costs that are most commonly ignored, and could become the most significant fee per trade, depending on the strategy. They apply to leveraged overnight positions, which triple on Wednesdays. PrimeXBT has reasonable swap rates for traders using PrimeXBT leverage.

PrimeXBT Non-trading Fees

Non-trading fees are notably less frequent and apply to deposits, withdrawals, and inactivity. Traders must know them to avoid confusion and avoidable costs.

Currency Conversion Fees

Currency conversion fees apply each time PrimeXBT exchanges one currency for another, including during trading. Traders may be unaware of this, as currency conversion fees are clearly stated.

PrimeXBT Deposit Fee

Traders can make their minimum deposit without any PrimeXBT deposit fees.

PrimeXBT Withdrawal Fee

PrimeXBT withdrawals are free for select payment processors. Withdrawal fees are currency-dependent and fixed.

PrimeXBT Inactivity Fee

During my PrimeXBT broker review I found that the broker does not disclose inactivity fees but confirms their existence.

PrimeXBT Safety and Security

PrimeXBT complies with four regulators, has an investor compensation fund, cold storage for digital assets, and segregates client deposits from corporate funds.

PrimeXBT Fees Bottom Line

PrimeXBT fees are reasonable for a commission-free broker and are the lowest for cryptocurrency traders, for whom PrimeXBT fees are highly competitive.

FAQs

What is the PrimeXBT minimum deposit?

The PrimeXBT minimum deposit is $10.

What countries are restricted by PrimeXBT?

PrimeXBT does not accept traders from the USA, Japan, Canada, Cuba, Israel, Iran, New Zealand, Syria, North Korea, Sudan, United States of Minor Outlying Islands, America Samoa, the Russian Federation, Myanmar, Saint Lucia, Puerto Rico, Guam, the US Virgin Islands, or the Northern Mariana Islands.

What is the interest rate at PrimeXBT?

PrimeXBT does not charge or pay an interest rate, but swap rates on leveraged overnight positions apply, which depend on the asset and the amount the trader borrows.

Does PrimeXBT have commissions?

PrimeXBT charges commissions on cryptocurrency transactions with a fixed maker fee of 0.01% and a taker fee between 0.02% and 0.045%.

How much does PrimeXBT charge for withdrawals?

PrimeXBT offers free withdrawals for select payment processors but notes that fees are currency-dependent and fixed.

When does PrimeXBT charge fees?

The timing for charges is asset dependent. Spreads apply instantly once a trader opens a position, commissions apply when traders buy and sell trading instruments, but swap rates apply on leveraged overnight positions only after the cut-off time. Currency conversion fees apply if the quote currency of the asset differs from the account base currency.

Does PrimeXBT charge inactivity fees?

PrimeXBT charges inactivity fees but does not disclose them. It states: “PrimeXBT may charge inactivity fees if your account is inactive for a prolonged period. The exact amount and conditions for these fees can vary.

By DailyForex.com Team

The DFX Team at DailyForex is a group of veteran financial analysts, traders, and brokerage industry experts dedicated to producing in-depth broker reviews and cutting-edge market insights, plus analysis of market trends. Holding over 16 years of experience in global financial markets, and 4 B.A. level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using the most advanced methodology in the industry. Also, the DFX team is involved in generating technical analysis, signals, and trading strategies, with a consistent commitment to accuracy and transparency. Whether you’re a beginner or a professional trader, the DFX Team works to ensure you have the tools and insights you need to succeed as a trader in the retail CFD industry.