FXPRIMUS
Founded in 2009, FXPRIMUS has established itself as one of the leading Forex brokers in the world.
Offering clients a range of instruments by which to trade currencies, commodities, energies, indices and more, the company has built a strong reputation in the Forex market thanks to its dynamic emphasis on safety, security and integrity.
FXPRIMUS has been at the forefront of the implementation of the safest practices possible in the Forex industry, combining research in new technologies with the mitigation of its client’s risk via a comprehensive academic program, to offer users a secure, safe and sophisticated trading platform.
Traders of all levels also gain from the company’s endless dedication to providing them with the best possible educational support throughout their trading lifecycle.
FXPRIMUS Pros & Cons
Pros
Multilingual broker with 11 languages supported
CySEC, VFSC and FSCA regulatory oversight
Client deposits segregated offshore in Tier-One bank and further protected by national investor compensation protection schemes
Accounts may be individual, joint, or corporate, with options for classic or ECN type pricing
Free demo account to learn trading or test out new strategies
Deposits can be made by major credit or debit card, wire transfer, e-wallets or a host of other local payment methods
The minimum deposit is $100 or its equivalent
Trading available in standard, mini and micro-lots
Broad array of traditional currency pairs with up to 1000:1 leverage*, supplemented by CFD trading in equities, commodities and indices
STP processing system that supports variable pricing
Tight spreads, especially with the Premier ECN set-up equal to one pip or less, with no threat of slippage or re-quotes, except possibly during high volume events
Desktop, web trader and mobile versions of the MetaTrader4 trading platform available
VPS service available
Generous promotions, bonuses and competitions**
24/5 Multi-lingual support
Cons
Not regulated by FCA (UK)
No US clients
Only major stocks and indices available
Regulated By
Cyprus Securities & Exchange Commission (CySEC)
Vanuatu Financial Services Commission (VFSC)
Financial Sector Conduct Authority (FSCA)
Account Options
Broker Type: Straight Through Processing (STP)
Minimum Deposit: $100
Spread: Variable and ECN Spreads
EURUSD Spread: 0.3 pips
Maximum Forex Leverage: Leverage from 1:1 to 1:1000*
Free Demo Account: Yes
Day Trading Account: Yes
Top FXPRIMUS Features
Platforms
As with most of the Forex industry, FXPRIMUS uses the MetaTrader 4 (MT4) platform, one that is very familiar among traders. The MT4 platform enhances the trading experience by integrating an array of functionalities, including advanced technical analysis, EAs, robots, signals, and market and mobile trading applications.
The MT4 is available for Windows, Apple or Android and in both desktop and mobile versions. MT4 offers multi-language support and a user-friendly interface, which makes trading effortless.
FXPRIMUS traders that have a minimum of $500 in their accounts receive the VPS platform free of charge, while a deposit of $50,000 or more grants them access to the Platinum API option.
Markets
FXPRIMUS account holders can trade over 130 instruments across Forex (43 symbols), metals (6 symbols), energies (7 symbols), indices (12 symbols), cryptocurrencies*** (7 symbols) and stocks (110 symbols) on tight spreads from the MetaTrader 4 platform.
Here’s a summary of what is available to traders via FXPRIMUS:
Forex and crypto-currencies***: Trade CFDs on 43 currency pairs across Forex Majors, Minors and exotics. Account-holders may also trade CFDs in cryptocurrencies.
Commodities and energies: Trade CFDs on the price of Gold, Silver, Platinum, Natural Gas and Oil (UK Brent and US Light Sweet Crude Oil).
Indices: Trade CFDs on 12 stock indices such as the S&P 500, Nasdaq 100, Dow Jones, Hang Seng, German DAX and IBEX.
US equities: Trade CFDs on the shares of 60 US companies such as Amazon, Google and Pfizer, to list a few.
Account Types
As an FXPRIMUS trader, there are several types of accounts available, which allows traders to pick the option that best suits their trading style and level of experience.
Accounts include Standard, Premium and VIP with each requiring a minimum deposit of $500, $2,500 and $10,000, respectively.
All of the FXPRIMUS offerings include daily market outlooks, SMS alerts and a one-to-one consultation to help set up traders for success. In addition to this, VIP or Premium accounts come with a training system.
If traders are looking to test things out before investing any money, a demo account option is available. Beginners could use it to learn the foundations of trading using the MT4 platform, while it allows more experienced traders with a setting where to test out new strategies without having to spend any money.
Here’s a summary of the accounts available:
Variable Spreads Account: Trade on low floating spreads without commission on the MetaTrader 4 platform. Open an account starting with a deposit as low as $100.
ECN Premier Account: Trade on the tightest available spreads plus a $10 commission per lot, also on the MetaTrader 4 platform. With an ECN account, FXPRIMUS acts as a bridge between its traders and tier 1 liquidity providers. It aggregates prices from liquidity providers, shows users the best available price and forwards their orders onto market-makers over an Electronic Communication Network (ECN). Open an account with as low as a $500 deposit.
Micro Account: Trade starting at $10. This account caters primarily to the retail investor who seeks exposure to foreign exchange trading but doesn’t want to risk a lot of money. A micro account’s smallest contract also called a micro lot, is a preset amount of 1,000 units of currency.
Website Usability
The FXPRIMUS website is easy to navigate through with information and visual aids that layout the trading instruments, benefits, promotions and educational material. It uses eye-catching comparative tables, real price feeds and live spread displays, everything in 11 languages. The website is designed to be inviting and it is 100% to the point, a practice not so common among brokers.
Payment Methods
FXPRIMUS makes depositing and withdrawing an easy process, without charging any fees. Payment methods include bank wire transfer, credit and debit cards, e-wallets and Bitcoin.***
The broker also allows traders to use several other payment solution providers including Safecharge, eMerchantPay and Skrill, to name a few. Traders are asked to keep their AML documentation up to date to ensure that all of their requests are processed in a timely manner.
Deposits coming from major credit and debit cards are generally processed within 24 hours, while withdrawals take between 2 and 5 business days.
Payment solution providers such as BitPay, Skrill and Neteller process all transactions within 24 hours. The minimum initial deposit for the Standard Account is $500 and, after the first time, traders can deposit as little as $100.
Promotions**
FXPRIMUS is always running several very generous promotions that suit different trading styles. These may include trading or deposit bonuses or low spreads on a select group of trading instruments. There is a page dedicated to promotions, so it’s a good idea to visit it often to claim any free trading funds, cash rebates or real prizes being offered.
At this time, FXPRIMUS is running these promotions:
Get VIP Trading Signals
Individuals can get free trading signals when they open a VIP account by depositing upwards of $10,000 into their FXPRIMUS account. VIP account holders also get personal access to a market specialist on a 24/5 basis.
Get a 30% Bonus** on Every Deposit (up to US$ 1,500)
FXPRIMUS will credit an individual’s trading account with a 30% bonus (subject to a US$ 1,500 cap) when they deposit a minimum of $500. This offer is open to new and existing customers who deposit or redeposit into their Live Individual, Joint, or Corporate ECN or Variable trading account with Primus Markets INTL Ltd.
Get a 100% Bonus** on Every Deposit (up to US$ 10k) and Cashback
FXPRIMUS will credit an individual’s trading account with a 100% bonus on every deposit (subject to a $10,000 cap), and cashback between $2 and $4 on every lot traded when they deposit a minimum of $500. This offer is open to new and existing customers who deposit or redeposit into their Live Individual, Joint, or Corporate ECN (US$ 4 cashback) or Variable (US$ 2 cashback) trading account with Primus Markets INTL Ltd.
Zero Fees on Deposits and Withdrawals
FXPRIMUS supports international and local payment methods across multiple base currencies. FXPRIMUS will cover any fees charged by its bank on deposits and withdrawals. However, please note that banks (and any correspondent banks) may charge fees of their own, and FXPRIMUS does not cover these fees.
Refer-a-Friend
This promotion allows individuals to get as much as $500 in tradable, withdrawal cash for each friend that opens an account and starts trading.
Other FXPRIMUS Offers
FXPRIMUS also offers different features to satisfy all traders’ needs:
A free demo account is available to learn the ropes or test out new strategies.
Training courses that vary in topic complexity depending on the user’s level of experience, with over 90 different training videos.
Latest market news and reaction to these news items.
Trading calculators and economic calendars for planning and tracing upcoming important events.
In-house market analysts and industry expert guests analysing the markets.
Regulation & Deposit Protection
FXPRIMUS is regulated by multiple financial bodies around the globe, making FXPRIMUS a great and reliable choice if individuals want a broker that is safe, secure, and transparent. As an added safety measure, FXPRIMUS has introduced professional indemnity insurance of €5 million.
For security purposes, the latest 128-bit SSL technology encrypts all transaction data and personal information for the user’s peace of mind.
FXPRIMUS has also invested in its tech infrastructure for trade processing, providing users with fast execution speeds. All prices are executable thanks to the broker’s use of liquidity providers and STP.
Withdrawal Procedure
To withdraw funds, traders login to their FXPRIMUS account, go to the withdrawal menu below the dashboard and choose how they wish to receive their funds from the dropdown. The broker processes all withdrawal requests within 24 hours and depending on the withdrawal method, the funds should be available in 2-5 business days.
Customer Support
The website offers an in-depth FAQ section designed to give fast, first-level support. For situations that need special attention, there is a dedicated multilingual customer support team, available 24/5 via phone, email or live chat. FXPRIMUS puts emphasis on the quality and speed of its customer support, setting the bar high for its competitors.
Overall Summary
The firm has evolved over the past decade as a leader and innovator in the Forex industry for its broad-based offering, reliability, and its network of data centres and liquidity providers spread across the globe. FXPRIMUS has established a high standard for other firms to emulate, as far as safety, security, and effectiveness are concerned. The firm’s motto attests to its commitment to be “The Safest Place to Trade.”
Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Please be advised that certain products may not be available for traders from EEA countries due to legal restrictions.
*Leverage varies based on the financial instrument traded and the relevant regulatory body based in your country of residence, knowledge and experience and regulator.
**Bonuses and promotions are offered based on your country of residence while terms and conditions apply. Under EU Regulations, EU clients are not eligible for these bonuses and promotions.
***Cryptocurrencies are offered based on your country of residence while terms and conditions apply.
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