1. What is FXPrimus?
  2. Awards
  3. Safe or a scam?
  4. Leverage
  5. Accounts
  6. Trading Instruments
  7. Fees
  8. Deposits and Withdrawals
  9. Trading Platform
  10. Customer Support
  11. Education
  12. Research
  13. Conclusion

What is FXPrimus?

FXPRIMUS is regulated by various jurisdictions online trading providers, which strives to deliver a safe environment with the best execution speeds combined with innovations and numerous rewards recognizing FXPrimus as the best Forex provider to their traders. The broker established its offices in Vanuatu, along with a Forex Broker in Cyprus, South Africa and other countries around the world to cover the global needs of their clients.

FXPRIMUS is actually operating as of the FXPrimus Group through three main brands, while clients may benefit from deep liquidity, provided by international top-tier banking institutions available anywhere in the Forex.

ProsCons
• Founded in Cyprus and operating over a decade

• Regulated by the Cyprus CySEC, FSCA in South Africa

• Global industry awards

• Low Deposit Requirement and range of account types

• Tight Low Spreads

• ECN trading option

• All trading styles including scalping and hedging supported

• Relatively limited instruments offered

FXPRIMUS Review

 

10 Points Summary

1.       FXPrimus is an international brokerage firm with entities in Europe Cyprus and South Africa

2.       Broker gained trustable trading conditions due to its regulations set by the famous regulators CySEC with its ESMA set of rules, and FSCA in South Africa

3.       MT4 Platforms is a broker’s mainstay offering different versions suitable for all devices

4.       A range of Forex and CFD products including Cryptocurrency, Indices, Commodities

5.       Range of Forex Education and tools provided on a free basis along with Webinars, Seminars and Financial EXPOs available to all client and created by financial analysts

6.       Demo Accounts and range of account types available for traders selection including ECN Accounts and the one based on variable spread only

7.       Trading costs for Cryptocurrencies and Commodities are low, yet Forex fees for Standard proposal are average level

8.       Various base currencies offered for convenient transfers

9.       Min deposit set to 100$, however the first deposit may start from 1000$ at some entities.

10.   An advanced range of payment methods for money transfers to or from the account including Bitcoin, e-wallets and Credit Cards

Awards

One of the great offerings from FXPrimus is its established one of the safest and rewarding online trading environments with costs starting as low as from 0 pips. While overall, FXPrimus numerous achievements along with the advanced trading conditions were recognized by world traders over 100,000s and global publications as well. These awards including titles such as Best Forex Broker Europe 2019 by FxDailyInfo Awards, Most Trusted Broker Asia by Global Brands Awards and more.

FXPRIMUS awards

Is FXPrimus safe or a scam?

This is indeed our most important topic to cover, as nothing matters if you will choose a scam broker and lose your money due to company irresponsibility. Strictly for this reason, we advise trading and opening accounts only with regulated entities that holding a license from Forex regulatory bodies in reputable jurisdictions.

Pros

Cons

• Regulated by Cyprus CySEC and aligned trading according to MiFID

• Authorized and regulated in South Africa

• Professional Indemnity insurance up to 2.5m EUR

• Negative Balance Protection

• Not listed in Stock Exchange

Is FXPrimus regulated?

In terms of FXPrimus legit status and regulation it follows, since it is a brand name used by Primus Global Ltd previously known as FX Primus Europe (CY) Ltd, and is a part of FXPrimus group a global trading company with various representative offices. Due to its headquarter in Cyprus broker is authorized to provide services to European clients as per the Cyprus Securities and Exchange Commission CySEC regulation.

In addition, FXPrimus is regulated by other jurisdictions with the license from FSCA (South Africa), which allows residents from South Africa and international traders to join trading relatively easily. Besides, FXPrimus serves entity and authorized by the VFSC (Vanuatu), which is an offshore license that in fact does not demand strict and necessary safety measures.

In case the company is solely offshore we do not recommend trading or trusting those firms, however since FXPrimus is a European broker and due to its multiple follow of Forex guidelines FXPrimus is considered to be a safe trading environment.

FXPrimus entityRegulation and License
Primus Global LtdRegulated by CySEC (Cyprus) registration no. 261/14
Primus Markets INTL LimitedAuthorized by VFSC (Vanuatu) registration no. 14595
Primus Africa (Pty) LtdAuthorized by FSCA (South Africa)  registration no. 46675

Is FXPrimus legal in Malaysia?

FXPrimus does not have a legal entity in Malaysia, nor regulated by the local authority that regulated financial firms Bank Negara Malaysia BNM. It does not mean that if you are a trader from Malaysia you cant open an account with FXPrimus, the broker has Vanuatu entity which accepts clients from all around the world. It simply means that you will open an account with a company not particularly regulated in Malaysia.

It may seem misleading at some point, however FXPrimus has reputation of a safe broker therefore the choice is always your whether to take trading risk or not.

FXPRIMUS regulation

How are you protected?

The investors’ protection along with compliance to the set rules performed in numerous ways since obliges broker strictly to keep money in segregated bank accounts and make sure they are always protected. These rules are also monitored and audited by the regulatory bodies, which we recall to your attention again why regulated broker considered safe and eventually the only recommended brokers.

Moreover, all clients trading under Negative Balance Protection so that you will never incur any losses that exceed the account balance. As an added safety measure, FXPRIMUS has also introduced a client fund insurance of €2.5million, which is offered for free to all clients.

Leverage

Leverage is the tool by which you may trade a large amount of money, due to its capability to increase your initial balance for a certain number of times, which is defined by the instrument as well as regulated also. Leverage may magnify your exposure to markets, yet the probability of profits or losses increases in parallel, which makes it essential to learn how to use leverage smartly.

Obviously, FXPrimus being a regulated broker offering leverage levels that are determined by the regulatory restrictions each authority impose. Simply it means you should verify with company customer service first which level you entitled to use, as it may be defined by your residence in the country or another. It is also a fact that you may choose under which entity to open an account, yet verify this with FXPrimus firstly as well.

  • Trading with European FXPrimus under CySEC and MiFID guidelines the maximum leverage level is set to 1:30 for Forex instruments
  • South Africa entity and traders may exposure to leverage of 1:200 for currency pairs and lower for other instruments
  • A global entity of FXPrimus based in Vanuatu enables you to trade with high leverage up to 1:300

Accounts

The account types offered by FXPrimus also reflect its strive to manage the need of both beginning traders, those that require specified conditions and professionals.

Multiple account options offered by FXPrimus allowing you to access trading and markets with variable spreads and access to trade all range of its offered instruments. Besides you will trade with competitive spreads and no commission fee basis along with access to unlimited use of educational and research materials, which we will see in detail further in our FxPrimus review.

Pros

Cons

•Multiple Account options including ECN and Variable Spread Account, Islamic Accounts

• Fast Account Opening, fully Digital

• Demo Account

• Low Minimum deposit

• Free deposit

None

Account Types

The FXPrimus accounts offered including both Live Account and Demo accounts available for your practise or familiarization with a platform. While account types are divided by the investment size, where obviously the spreads will become lower as long as you trade with higher account grade. Besides, you may access the Micro Account trading option through the possibility to trade Micro lots.

Also, Premium Account entitled to additional services like weekly informative financial trading seminars and offered with lowest spreads.

Thus the Variable Account also known as Standard Account requires – 1000$, FXPrimus ECN Premium Account – 2,500$ and VIP Account – 10,000$, which also may vary according to the entity of FXPrimus you trade with.

Moreover, there is a possibility to request Islamic Account known as Swap-free account that traders of Islamic faith to enter the trading process with no swap charges or spread widening.

FXPRIMUS account

How do I create a Forex Demo account?

So in order to create a Demo Account, which is a great and necessary option for your practice before you jump to Live trading you simply should follow the next steps.

Further on, and once you’re ready you can proceed with necessary verifications of your identity and open already Live Account with all the benefits offered by FXPrimus.

Opening Demo account step by step

1.       Access FXPrimus Sign In page

2.       Enter your personal data First and Last Name, Country of residence, email, phone, etc. Also, you may follow with Facebook or Google existing account.

3.       Get access to your trading area through verification received by email

4.       Once you ready you may activate Live trading through preference selection in your client area

Trading Instruments

With FXPrimus you’ll get access to trade over 120 Instruments including Forex, Commodities, Stocks, Energies, indices, and cryptocurrencies. Even though at some point trading instruments may seem limited if compare with other brokers, there are still enough popular trading instruments to diversify your portfolio especially considering good cost wide offered by FXPrimus, which we will cover further in our FXPrimus Review.

FXPRIMUS instruments

FxPrimus Markets compared to similar Brokers

It is also good to compare FXPrimus to other industry offerings, so in the table below you may see available assets and instruments.

 FXPrimusFXTMXM
Forex445757
Indices131118
Commodities7615
Cryptocurrency745
Shares651741294

Fees

Another important question while making FXPrimus Review is its Fees charged while trading. While all trading styles are welcomed at FXPrimus, it also based on tight spread conditions and quite competitive trading costs with spreads of 0.1 pips with no commission. Or if you select an option to trade through ECN connection with raw spreads you’ll be charged a commission of 10$ per lot.

In addition, you should always consider other fees like non-trading fees, withdrawal fees which we will see in detail further.

ProsCons
• Options between standard fees based on spread and ECN account with a commission charge

• Availability to trade through deep liquidity

• Low Cryptocurrency and Commodity fees

• Good ECN trading conditions

• Currency Pair fees on Variable Account are rather high

 

Our find on Forex fees

As for the Forex fees, we find that FXPrimus fees for Standard account are rather high among the industry for currencies but very good offering for Cryptocurrency, as well as Commodities.

However, ECN account fees are quite pleasant for all instruments along with a commission charge per lot, see snapshot below. As an example, you may refer to the comparison table and see typical FXPrimus spread and other popular CFD Brokers, as well you may see trading conditions of another popular broker TempleFX.

Comparison between FXPrimus fees and similar brokers

Asset/ PairFXPrimus FeesFXTM FeesAvaTrade Fees
EUR USD1.7 pips1.5 pips1.3 pips
Crude Oil WTI5 pips9 pips3 pips
Gold26940
BTC USD26200.75%
Inactivity feeYesYesYes
Deposit feeNoNoNo
Fee rankingAverageAverageLow

FXPrimus rollover

Besides, always consider rollover or overnight fee as a cost, charged on the positions held longer than a day and determined by the direction you trade selling or buying and is differential between bids. Alike if you trade GBP USD pair swap is 2.0485 if you going short and -12.282 for a long position.

FXPRIMUS spread

An overview of the Non Trading Fees

These fees should be considered by you also, typically brokers do charge accounts in case there is no activity for a period of six months or more, known as FXPrimus Inactivity fee.

Despite this, FXPrimus covers your charges for deposits or withdrawals, which we will cover further in our FXPrimus review.

Deposits and Withdrawals

FXPRIMUS offers a great range of convenient funding solutions to its clients across the globe, allowing to fund their account with trust, safety and confidence. However, always make sure to verify according to your residence and entity of FXPrimus what conditions and methods are applicable to you.

ProsCons
• Minimum deposit – 100$

• Great selection of deposit option supported including Credit Card, Bitpay and local transfers

• Free of charge deposit and withdrawals

• Methods vary according to the FXPrimus entity and its regulations

Deposit Methods

The deposit may be performed via numerous ways while in addition, FXprimus rewards clients with coverage of the fees and charges. Yet, always check carefully with your payment provider in case any fees will be waived due to its own policies.

As for the methods themselves, you may use

  • Bank transfers
  • Credit card payments along with the possibility to issue FXPRIMUS MasterCard that allows an easy transaction with a minimum deposit of 100$
  • E-wallets including alike Neteller, Skrill, giropay, bitpay, unionpay, webmoney and many more

FXPRIMUS deposit

What is the minimum deposit on FXPrimus account?

The minimum deposit that will allow you to open live trading accounts set to a 1000$ in order to open a Standard Account. However, the minimum transfer amount is only 100$, so you may choose the appropriate method and number of funds you wish to transfer.

Withdrawal Methods

The withdrawals also provided free of charge, which is a great benefit and advance allowing you to transfer funds easily to or from the account. The withdrawal methods are presented the same as deposits, also always verify before you withdraw money about its policies as due to some regulations withdrawal methods should be strictly the same as a deposit was done.

How do I withdraw from FXPrimus?

Once you decide to withdraw money from your FXPrimus account, you need to login to your account as a first step and submit a requirement. Eventually, these are the steps on how to withdraw money from FXPrimus

  1. Login to your account
  2. Go to Withdraw page through the Account area
  3. Select the desired withdrawal method and the amount you wish to take, click ‘Withdraw’
  4. Complete the withdrawal request with the required information
  5. Confirm withdrawal and Submit
  6. Monitor the progress through your Account

Trading Platforms

In order to trade available at FXPrimus 120+ instruments you are able to access all from one the most popular MetaTrader platform in the industry suitable for desktop or mobile trading.

Platform Ratings

Since the broker decided to mainstay at the MetaTrader4 available for Desktop Windows, Mac, Android and iOS mobile trading devices, also through MetaTrader Platform Web Trader.

MT4 On Windows & Mac for Desktop, Tablet, Mobile & Webtrader together with VPS Connect to your Trading Platform quickly and efficiently performing orders

Web Trading

Web trading platform is indeed a very useful tool for your trading as you simply should login to your account through any internet browser and enjoy FXPrimus platform capabilities. Since it uses MT4 design and layouts, WebTrader has a clean view, numerous tools and enhancement options all available for you, yet for comprehensive analysis and day trading we will still recommend desktop version.

Pros

Cons

•Customer friendly design

•Good range of tools

•Does not require installation

•Clear look

• No proprietary platform

• Relatively limited analysis

How to Place order

Placing an order is a quite simple process, as you may trade and open trade directly from the chart through a selection in the menu ‘Place Order’.

You should click on it, through the instrument chart you’re willing to trade and set the desired preferences either Market Order or Pending order, select necessary risk levels with stop loss and take profit. And you’re done, of course further on you have full control over your position and can either close the trade manually or adjust it, unless t hit some of your defined levels.

Look and feel

FXPRIMUS platform

Desktop trading platform

However, if you’re a professional trader or require better capabilities of the platform desktop version for you is a must. You may choose the MT4 Desktop version either for Mac or Windows depending on your device and use its full capabilities.

With a desktop version you’ll get full access to numerous technical analysis, great chart capabilities MT4 famous for, as well as an option to automate your trading by the use of Expert Advisors or EAs. The platform has a clear view, very customer friendly and allows you to befit or get better from largely available education videos.

FXPrimus does not restrict trading styles, so you may use either scalping or hedging, along with social trading options which we will see more detailed further.

Pros

Cons

•Trader friendly design suitable for beginners

•Supporting Windows and Mac

•Comprehensive analysis tools

•Automated strategies and robots allowed

•Clear look and feel

• Only offering industry MT4, No proprietary platform

 

Security

Indeed, MT4 is very popular and known for its powerful chart feature and range of comprehensive tools, as these capabilities may enhance the trading process dramatically. But also MT4 is a highly secure platform, which is together with the regulatory

PAMM

In addition, trading with FXPrimus you may use its social trading capabilities together with PAMM Broker Facilitating relationships between World Class fund managers and Followers PLATINUM API With Fix Protocol. You may simply become a follower through a steps shows below, or in case you’re professional FXPrimus offers an attractive package, an option to gain bigger exposure to the markets, which you always can check out through its official website.

How to become Follower

FXPRIMUS PAMM

Mobile Trading Platform

Definitely nowadays it is almost impossible to imagine trading without a mobile trading platform, as it allows you to monitor and stay updated with the situation whenever you are. FXPrimus MT4 Mobile platform also please us with a range of technical analysis and chart option features it offers, so you may customize already good design of the mobile platform.

Together with that almost all desktop or web platform capabilities remaining available including fee reports, social trading capabilities and advanced analysis tools.

Pros

Cons

•User friendly design, easy to navigate

•Social trading capabilities

•Technical analysis tools in the package

• No face recognition login

Alerts and notifications

SMS alerts and email alerts are another category and truly useful tools that are available at FXPrimus MT4 platforms, allowing you flexibility rather than sitting and watching charts continuously. You may select an instrument or a few, that you are watching and set specified levels the price reach, so you will receive notification directly to your phone or email once the price is there.

Customer Support

In terms of the Customer Support FXPrimus also strives to make you comfortable along all the process of account opening, trading and usual service. There are numerous supported languages, which are also covered by FXPrimus entities around the world.

You may refer to the support with any concern and count on a quality service while support team accessible via Live Chat, International Phone Lines and email.

Pros

Cons

•High Customer Support rating

•International languages supported including Malay, Thai, Chinese, Spanish etc.

•Skilled team, appropriate answers

•No 24/7 service

Education

Along with comprehensive offering, the broker’s efforts went on engaging in targeted strategies through the advanced educational resources suitable for traders of different levels. Designed education allows better provision and quality online trading, which FXPrimus recognizes as an essential part of success.

Therefore, beginning traders are most welcomed, also coordinated Seminars around the world centers allowing potential public to join trading as well.

Pros

Cons

•Compressive learning materials

•Well organized Education center with Webinars, Seminars and EXPOs

•Daily Market Outlook

•Personal Account Manager

•Demo Contests, Live Forex Contests

None

FXPRIMUS education

Research

So together with advanced learning materials, the company specialists delivering various Research tools and materials. Which includes news feeds available directly to the traders and helping with informed decisions throughout daily market outlooks, trading signals, videos, training sessions and tailor-made market reports.

Also various trading tools, Economic Calendar ad Trading Calculators remaining at your disposal, while VIP clients may access Premium Trading signals and Platinum API on an exclusive basis. In addition, you may access immediate market updates with SMS Service, which is indeed very useful.

Pros

Cons

•Range of advanced Research tools

•Trading signals, market outlook, Market reports

•SMS Service

•Free access to market Research and trading signals

None

Conclusion

FXPRIMUS review shows a brokerage company, which delivers a range of instruments to trade, along with the choice of technological ECN solution connectivity and raw spreads. The traders of different size, strategy and expertise will be supported with education or various programs, initially small deposits to start or even to find a suitable trading account.

FXPRIMUS trading benefits

We also like that beginning trader and seasoned professionals will find a suitable option for trading, and its great variety of trading tools covering most demanded and basic needs as well.

Overall, the company tries hard to deliver a very competitive offering to the global clients, along with the computable, safe and regulated services to every customer which is very important.

Nevertheless, we would be good to know your personal opinion about FXPrimus, you may share your experience in the comment area below, or ask us for some additional information.

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