This PrimeXBT Australia review outlines the broker’s crypto derivatives offering tailored for Australian users. While PrimeXBT does not hold an ASIC license, it services Australia through its offshore entity. The platform offers leveraged CFDs on crypto, forex, indices, and commodities via a Bitcoin-settled infrastructure and proprietary trading tools.

Regulation and Safety

PrimeXBT is not regulated by the Australian Securities and Investments Commission (ASIC). It operates via a Saint Vincent and the Grenadines–registered entity (Company No. 20623 IBC 2012). As such, Australian traders are not covered by AFCA or any investor compensation scheme. Despite this, PrimeXBT enforces internal security practices including:

• Cold storage for crypto funds
• Two-factor authentication (2FA)
• Whitelisted withdrawal addresses

Execution Model and Trading Platforms

PrimeXBT uses a synthetic CFD model, settling all trades in crypto (BTC or USDT). It is not a DMA or ECN broker. Platforms supported include:

• PrimeXBT WebTrader – full-feature crypto CFD platform
• PrimeXBT Mobile App – iOS and Android versions

Order types include market, limit, stop, and OCO. MT4/MT5, FIX API, and TradingView integration are not available.

Markets and Instruments

PrimeXBT Australia offers over 100 instruments across crypto and traditional markets:

• Cryptocurrencies – BTC, ETH, LTC, ADA, XRP, DOGE
• Forex – AUD/USD, EUR/USD, GBP/JPY, 50+ currency pairs
• Indices – ASX 200, S&P 500, DAX, Nikkei
• Commodities – Gold, silver, oil, natural gas

All instruments are CFDs with leverage and no physical asset delivery. Contracts are settled in BTC or USDT.

Accounts, Spreads and Leverage

PrimeXBT offers a unified crypto margin account. Key conditions include:

• Crypto leverage up to 200x (BTC/USD)
• Forex leverage up to 1000x
• Indices and commodities leverage up to 100x
• Spreads from 0.0 pips (variable)
• Flat commission: 0.05% for crypto CFDs

Minimum deposit is 0.001 BTC or equivalent. There are no inactivity or maintenance fees. Australian users can access the Covesting copy trading module within the same account.

Funding and Base Currencies

All balances are held in crypto (BTC, ETH, USDT, USDC, COV). PrimeXBT does not support AUD deposits directly. Available deposit methods include:

• Crypto wallet transfer (BTC, ETH, USDT, USDC)
• Fiat on-ramp via third-party provider (Coinify)

Withdrawals are processed manually once per day. Blockchain network fees apply, but PrimeXBT does not charge internal withdrawal fees.

Client Protections and Features

While not ASIC-regulated, PrimeXBT implements several safety features for Australian users:

• Cold storage and manual withdrawals
• 2FA and IP-based session controls
• Covesting copy trading support
• Trailing stop and advanced risk tools
• No KYC required for basic account access

Institutional and Retail Offering

PrimeXBT Australia is retail-focused and does not offer institutional solutions such as FIX API, prime brokerage, or liquidity aggregation. However, advanced users benefit from:

• Up to 1000x leverage on FX and 200x on crypto
• Covesting copy trading platform
• Customisable multi-asset terminal

Pros

• High leverage (200x crypto, 1000x FX)
• Crypto-settled CFD platform with wide market access
• No KYC required for basic access
• Covesting copy trading available in Australia
• Low minimum deposit (0.001 BTC)

Cons

• Not regulated by ASIC or covered by AFCA
• Crypto-only funding – no native AUD support
• Manual withdrawal system with delay risk
• No MT4, MT5, or institutional trading tools

Frequently Asked Questions

Is PrimeXBT available in Australia?

Yes, PrimeXBT serves Australian users via its offshore entity, though it is not regulated by ASIC.

Can I fund my PrimeXBT account with AUD?

No, PrimeXBT only supports crypto deposits. AUD on-ramp is possible via third-party providers like Coinify.

Is KYC required for Australian traders?

No, KYC is not required for trading, though it may be necessary for fiat purchases through third-party services.

What leverage is available to Australian users?

Leverage is up to 1000x on forex and 200x on major crypto pairs like BTC/USD.

Is PrimeXBT regulated in Australia?

No, PrimeXBT is not licensed by ASIC and operates from Saint Vincent and the Grenadines.