Is PrimeXBT Legal In India?

If you want a regulated broker in India, our top pick is Interactive Brokers.

Is PrimeXBT Regulated In India?

No, we searched for ‘PrimeXBT’ and ‘PXBT’ on SEBI’s directory of Recognised Intermediaries, and as you can see below, there were no results to suggest it holds a regulatory license. The SEBI is the chief regulator of stock brokers and online trading platforms in India.

SEBI license check

We also checked whether PrimeXBT features on the Reserve Bank of India (RBI)’s Alert List, as this contains 95+ overseas forex and CFD brokers that the country’s central bank has warned are not authorized. PrimeXBT is not on this list, unlike many other high-profile brokers, such as OctaFX and HotForex.

However, PrimeXBT not being on the RBI Alert List does not equal approval from the RBI. It may simply mean the RBI has not yet come across sufficient cases of Indian residents joining PrimeXBT, or the broker focusing marketing efforts in the country.

In our research, we also found that India’s Financial Intelligence Unit (FIU) had issued a notice in 2025, warning PrimeXBT, along with 24 others, for non-compliance with Section 13 of the Prevention of Money Laundering Act, 2002.

Does PrimeXBT Still Accept Residents In India?

Yes, PrimeXBT accepts residents in India. We know this because PrimeXBT is not listed as a Restricted Jurisdiction on its website.

It also actively caters to Indian residents. For example, PrimeXBT introduced UPI and IMPS transfers for deposits in Indian rupees (INR), often completed within 10 minutes and 1 hour, respectively. Additionally, its website can be set to বাংলা (Bangla/Bengali), as you can see below.

PrimeXBT site in Bangla

That said, just because it accepts Indian residents, this doesn’t make it a great fit. For example, PrimeXBT does not offer an INR trading account for smoother account management and to help reduce conversion fees. It also doesn’t offer a dematerialized (demat) account, which are common at Indian-registered stock brokers.

Additionally, it doesn’t provide trading on INR currency pairs, nor the National Stock Exchange (NSE) or Bombay Stock Exchange (BSE) – something we checked directly in the trading platform. Instead, PrimeXBT primarily offers derivatives like CFDs and futures on global markets, and an extensive selection of cryptos.

What Should Indian Traders Keep In Mind Before Opening An Account?

Because PrimeXBT is not legally authorized by the SEBI or RBI in India, there are several key safety considerations to weigh before registering:

• No statutory mandates investor compensation scheme. If your SEBI-registered stockbroker went bankrupt, you may be eligible for up to ₹35 Lakhs on NSE (and up to ₹25 Lakhs on BSE) for lost funds or un-delivered securities. You won’t get this protection if you use PrimeXBT, and none of its other regulated entities provide compensation schemes either.
• Lax limits on leverage trading. India tightly controls margin trading to limit retail investors taking on excessive leverage. You won’t get such strict safeguards with PrimeXBT, which offers leverage up to 1:1000, turning a 1,000 INR outlay into 1,000,000 INR in trading power, massively increasing potential results (gains but also losses).
• Strict dispute channels: SEBI brokers are often required to have compliance offers and internal grievance email support, as well as a SEBI centralized complaints portal, and an independent online resolution mechanism. PrimeXBT’s dispute mechanism is weaker, starting with its internal support and potentially reaching the Financial Commission, which PrimeXBT is a member of, but this is not a government body. This can ultimately make resolving disputes challenging, especially given Indian residents will be dealing with a brokerage based overseas.
• FEMA non-compliance. India’s 1999 Foreign Exchange Management Act (FEMA) and RBI guidelines say Indians are not allowed to transfer funds overseas or using the Liberalised Remittance Scheme (LRS) for speculative margin trading or using leveraged forex derivatives. So while PrimeXBT may accept Indian rupees and UPI/IMPS, residents may still be falling foul of local rules.

Indian traders may prefer to stick to SEBI-regulated brokers or our list of top-rated trading platforms that accept Indian residents.