- What is FXPrimus?
- FXPrimus Pros and Cons
- Safe or a scam?
- Trading Instruments
- Deposits and Withdrawals
- Trading Platform
- Customer Support
Our Review Method
- Our Financial Experts at 55Brokers with over 10 years of experience in Forex and CFD markets have checked broker’s trading conditions along with spreads, fees, available platforms, and verified licenses also contacted customer service and placed trades to evaluate the offerings and give our expert opinion about FXPrimus
What is FXPrimus?
FXPRIMUS is an online FX and CFDs trading provider regulated in multiple jurisdictions. The broker delivers a safe environment with the best execution speeds combined with innovative technology. The broker has gained numerous rewards by being recognized as one of the best Forex providers in the market. 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 was founded in 2009 and since then has expanded globally building its presence all across Europe, Asia, and Africa with a constantly growing trader base of +300k. Its headquarter is located in Limassol, Cyprus.
FXPRIMUS is actually operating as 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
What type of broker is FXPrimus?
FXPrimus is an ECN (electronic communications network) broker meaning that it gives clients direct access to other participants and uses prices from different liquidity providers.
Is FXPrimus a market maker?
Yes, FXPrimus is a market maker broker mixed with ECN execution type. Stocks, currency, and other commodities and other instruments will be purchased by the broker even if no buyer is lined up.
FXPrimus Pros and Cons
Overall, our experts find FXPrimus a highly reliable broker with a top-tier regulatory license from CySEC. FXPrimus provides professional education and great research suitable for beginners, it offers a good selection of trading platforms and all trading styles are accepted. We also marked relatively low trading fees as compared to other brokers in the market which makes the broker a highly attractive option, especially amongst beginner traders.
On the negative side, the product offering is rather narrow and is based on Forex and CFDs only, and spreads for currencies are rather high. Beyond that, the broker trading conditions and offerings vary based on the entity and there’s no 24/7 support. Also, international trading is conducted via an offshore entity which isn’t so good, however, the broker has already proven its solid reputation over these years.
|Founded in Cyprus and operating over a decade
|Relatively limited instruments offered
|Regulated by the CySEC
|No 24/ customer support
|Global industry awards
|The range of the instruments and conditions vary based on entity
|Low Deposit Requirement and range of account types
|Tight Low Spreads and Low fees
|ECN trading option
|All trading styles including scalping and hedging supported
FXPrimus Review Summary in 10 Points
|Forex and CFD products, Cryptocurrency, Indices, Commodities
|💰 EUR/USD Spread
|🎮 Demo Account
|💳 Minimum deposit
|💰 Base currencies
|Various base currencies
|Free education, Webinars, Seminars and Financial EXPOs
|☎ Customer Support
Overall FXPrimus Ranking
Based on our research, FXPrimus offers great trading conditions suitable for both beginners and advanced traders with a good reputation and a decade of proper operation. The broker offers a variety of trading platforms with low trading costs available on an international scale.
The broker supports multiple trading styles backed up with high leverage making it the best choice for traders of any type. Also, traders of any expertise level are welcomed since the broker provides an excellent range of educational resources and research tools.
- FXPrimus Overall Ranking is 8.4 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry Leading Brokers.
FXPrimus Alternative Brokers
However, we still found some disadvantages of FXPrimus in form of the relatively high spreads of the currency base and limited trading instruments with conditions varying from one entity to another. Another disadvantage is the difficulty to reach customer support on weekends. Despite these inconveniences, we still consider FXPrimus a good broker, however, we recommend you considering these alternative brokers as well:
- FXTM – Good for Real Stock Trading
- FP Markets – Low Forex Spread Broker
- Dukascopy – Excellent for Shares, Futures Trading
FXPrimus numerous achievements along with the advanced trading conditions were recognized by world traders over 100,000s and global publications as well. We also noted that the broker continues to gain recognition and high appraisals and awards from its clients. Among the most notable awards are:
- Best Forex Broker Europe by FxDailyInfo Awards
- Most Trusted Broker Asia by Global Brands Awards
Is FXPrimus safe or scam?
No, FXPrimus is not a scam, it is an authorized broker that also provides Professional Indemnity insurance up to 2.5m EUR for low-risk Forex and CFDs trading.
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 serves as an entity 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.
See our conclusion on FXPrimus Reliability:
- Our Ranked FXPrimus Trust Score is 8.6 out 0f 10 for its good reputation and a decade of proper operation. The broker is licensed by a top-tier regulator and ensures trader safety. The main disadvantage is that international trading is done via an offshore entity
|FXPrimus Strong Points
|FXPrimus Weak Points
|Regulated by Cyprus CySEC and aligned trading according to MiFID
|Not listed in Stock Exchange
|Professional Indemnity insurance up to 2.5m EUR
|Regulatory standards and protection vary based on the entity
|Negative Balance Protection
|Runs an offshore entity
|Global expands including Asia, MENA, Africa regions
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 a Vanuatu entity that 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 the reputation of a safe broker therefore the choice is always yours whether to take a trading risk or not.
How are you protected?
The investors’ protection along with compliance with the set rules performed in numerous ways since obliges brokers 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 brokers are considered safe and eventually the only recommended brokers.
Moreover, all clients trading under Negative Balance Protection 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 is the tool by which you may trade a large amount of money, due to its capability to increase your initial balance 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.
FXPrimus leverage levels that are determined by the regulatory restrictions each authority imposes. Simply it means you should verify with company customer service first which level you are entitled to use, as it may be defined by your residence in one country or another. It is also a fact that you may choose under which entity to open an account, yet verify this with FXPrimus first as well.
- Trading with European FXPrimus under CySEC and MiFID guidelines the maximum leverage level is set to 1:30 for Forex instruments
- A global entity of FXPrimus based in Vanuatu enables you to trade with high leverage up to 1:300
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 are 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.
|Multiple Account options including ECN and Variable Spread Account, Islamic Accounts
|Fast Account Opening, fully Digital
|Low Minimum deposit
What are FXPrimus account types?
Based on our finds, FXPrimus accounts offered include both Live Account and Demo accounts available for your practice 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 a higher account grade. Besides, you may access the Micro Account trading option through the possibility to trade Micro lots. Here find more brokers offering micro-accounts.
- Also, Premium Account is entitled to additional services like weekly informative financial trading seminars and offered with the lowest spreads.
- Thus the Variable Account also known as Standard Account requires – 1000$, the FXPrimus ECN Premium Account – 2,500$, and the VIP Account – 10,000$, which also may vary according to the entity of FXPrimus you trade with.
- Moreover, there is a possibility to request an Islamic Account known as a Swap-free account that traders of the Islamic faith to enter the trading process with no swap charges or spread widening.
How do I create a Forex Demo account?
Based on our testing, 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 an 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’s existing account.
3. Get access to your trading area through verification received by email
FXPrimus gives 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 the good cost-wide offered by FXPrimus, which we will cover further in our FXPrimus Review.
- FXPrimus Markets Range Score is 7.8 out 0f 10 for a good selection of instruments with great conditions and low costs. However, the broker’s disadvantage is that market is solely limited to FX and CFD trading and the range might vary according to jurisdiction
Does FXPrimus have Nasdaq?
Yes, FXPrimus offers traders the option of trading CFDs on the Nasdaq 100 Stock Index. The Nasdaq is the second-largest stock exchange in the world based in America. Nasdaq is mostly popular for its large-size stock list including 100 popular companies in the world.
We noted that FXPrimus Fees are charged while all trading styles are welcomed at FXPrimus, 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.
Also, other fees like non-trading fees and withdrawal fees should be taken into consideration. We will look into them in detail further.
- FXPrimus Fees are ranked low with an overall rating of 8.8 out of 10 based on our testing and compared to over 500 other brokers. The broker charges little to no fees, however, conditions for fees will vary according to jurisdiction
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 the FXPrimus Inactivity fee.
Despite this, FXPrimus covers your charges for deposits or withdrawals, which we will cover further in our FXPrimus review.
FXPrimus Forex fees we find that FXPrimus fees for Standard accounts are rather high among the industry for currencies but very good offering for Cryptocurrency, as well as Commodities.
We find ECN account fees quite pleasant for all instruments along with a commission charge per lot, see the snapshot below. As an example, you may refer to the comparison table and see typical FXPrimus spread and other popular CFD Brokers.
- FXPrimus Spreads are ranked low with an overall rating 7 out of 10 based on our testing comparison to other brokers. We found that the broker changes high spreads for currencies, though for commodities and cryptocurrencies the spreads are quite favorable
Asset/ Pair FXPrimus Spread FXTM Spread AvaTrade Spread EUR USD Spread 1.7 pips 1.5 pips 1.3 pips Crude Oil WTI Spread 5 pips 9pips 3 pips Gold Spread 26 9 40 BTC USD Spread 26 20 0.75%
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.
Deposits and Withdrawals
The great range of funding solutions offered to its clients across the globe allows them to fund their accounts 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.
- FXPrimus Funding Methods we ranked Excellent with an overall rating of 8 out of 10. The minimum deposit required from the broker is among the average in the industry, and fees are little to no, the minimum deposit requirement, however, may vary according to jurisdiction
Here are some good and negative points for FXPrimus funding methods found:
|Minimum deposit – 100$
|Methods vary according to the FXPrimus entity and its regulations
|Great selection of deposit option supported including Credit Card, Bitpay and local transfers
|Free of charge deposit and withdrawals
The deposit may be performed in 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, unionpay, trustpay, webmoney and many more
FXPrimus minimum deposit
The minimum deposit is 1000$ in order to open a Standard Account. However, the minimum transfer amount is only 100$, so you may choose the appropriate method and number of funds you wish to transfer.
Thus the Variable Account also known as Standard Account requires – 1000$, FXPrimus ECN Premium Account – 2,500$ and VIP Account – 10,000$, which also may vary according to the entity of FXPrimus you trade with.
FXPrimus minimum deposit vs other brokers
|Most Other Brokers
Does FXPrimus have a bonus?
Yes, FXPrimus does offer a sign-up bonus of $25 USD that is available to new and existing clients. In order to claim the sign-up bonus, a Trader must deposit $100 USD on the PrimusClassic account.
FXPrimus withdrawals are free of charge, 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 log in to your account as a first step and submit a requirement. Eventually, these are the steps on how to withdraw money from FXPrimus
- Login to your account
- Go to Withdraw page through the Account area
- Select the desired withdrawal method and the amount you wish to take, click ‘Withdraw’
- Complete the withdrawal request with the required information
- Confirm withdrawal and Submit
- Monitor the progress through your Account
FXPrimus Trading Platforms
In order to trade available at FXPrimus 120+ instruments you are able to access all from one of the most popular MetaTrader platforms in the industry suitable for desktop or mobile trading.
Since the broker decided to mainstay at the MetaTrader4 there are available versions 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, which is definitely a great ranking.
- FXPrimus Platforms are ranked Excellent with an overall rating of 9 out of 10 compared to over 500 other brokers. We mark it as excellent being one of the best proposals we saw in the industry, and a great range including MT4, MT5, and cTrader. Also, all are provided with good research and excellent tools
Trading Platform Comparison to Other Brokers:
Web trading platform is indeed a very useful tool for your trading as you simply should log in 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 the desktop version.
How to Place an 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.
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 analyses, great chart capabilities MT4 is 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, is 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 in more detail further.
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 the already good design of the mobile platform.
Together with that almost all desktop or web platform capabilities remain available including fee reports, social trading capabilities, and advanced analysis tools.
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 a notification directly to your phone or email once the price is there.
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 the steps shown below, or in case you’re a 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 a Follower?
In terms of Customer Support, in our opinion, FXPrimus does a good job delivering instant responses along 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 quality service while the support team accessible via Live Chat, International Phone Lines, and email.
- Customer Support in FXprimus is ranked Excellent with an overall rating of 8.9 out of 10 based on our testing. We got quick and relevant responses compared too other brokers. The only negative point is that it’s not available on weekends
See our find and Ranking on Customer Service Quality:
|High Customer Support rating
|No 24/7 service
|International languages supported including Malay, Thai, Chinese, Spanish etc.
|Skilled team, appropriate answers
Along with comprehensive offerings, the broker’s efforts went on engaging in targeted strategies through 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 welcome, also coordinated Seminars around the world centers allowing the potential public to join trading as well.
- FXPrimus Education ranked with an overall rating of 9 out of 10 based on our research. FXPrimus provides very good quality Education Materials, and excellent research, also provides Excellent Trading videos and Analysis
So together with advanced learning materials, the company specialists deliver various Research tools and materials. Which includes news feeds available directly to the traders and helping with informed decisions through daily market outlooks, trading signals, videos, training sessions, and tailor-made market reports.
Also, various trading tools, Economic Calendar ad Trading Calculators remain 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.
FXPrimus Review Conclusion
Our final thought about FXPRIMUS is rather positive. The broker provides a good range of instruments to trade, along with the choice of technological ECN solution connectivity and raw spreads. A great selection of platforms, along with small fees and high leverage make the broker a preferable choice among many brokers. Traders of different sizes, strategies, and expertise will be supported with education or various programs, initially small deposits to start or even to find a suitable trading account. We also like the fact that beginning traders and seasoned professionals will find a suitable option for trading, and its great variety of trading tools covers most demanded and basic needs as well.
Based on Our findings and Financial Expert Opinion FXPrimus is Good for:
- Beginning Traders
- Advanced traders
- Traders who prefer MT4 and MT5 platforms
- Currency Trading and CFD Trading
- For the cTrader Platform use
- Raw Spread trading
- Running various Strategies
- EAs trading
- PAMM Trading
- Excellent Research
- Hedging/Scalping traders
- Copy trading
No news available.