FXPrimus Review

Broker Information
  • Company Name: FXPrimus
  • Founded: 2009
  • Country: Vanuatu, Cyprus, South Africa
Broker Services
  • Regulators: CySEC
  • Minimum Deposit: $100
  • Leverage: 1:1 to 1:1000*
  • US Clients: No
  • EURUSD Spread: ECN 0.3 pips
Platform Info
  • Platform: MT4

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FXPrimus Pros

- 24/5 Customer support
- Well established
- Well regulated

Pros Cons
24/5 Customer support Spreads could be more competitive
Well established No US clients
Multi-regulated by CySEC, VFSC, FSCA
Multilingual broker with 11 languages supported
VPS service available
Trade over 130 Instruments
Competitive spreads

Trader’s Viewpoint

In today’s world, where hacks and data leaks are commonplace, it is undoubtedly essential that you use a broker that will be able to protect your sensitive information. FXPrimus has a reputation in the industry for unparalleled security and customer protection and has even declared itself “the safest place to trade online”. However, other than customer protection and security, how well does FXPrimus compare to its competitors in the industry?

Established in 2009, FXPrimus has been in the online forex trading industry for over a decade, making it one of the oldest players in the space. Former retail and hedge fund traders who wanted to build a better trading platform gave birth to FXPrimus. Led by a management team that understands the importance of infrastructure when it comes to high-frequency trading volumes, the company constructed a network of seven data centers across the planet and high-tier liquidity providers to ensure that their Straight-Through Processing (STP) business model works effectively at all times. Scalping, EA’s, hedging, and automated trading strategies are welcome with no threat of slippage or re-quotes.

FXPrimus has gone on to make a name for itself for its focus on customer needs, wants and protection.

FXPrimus resides under multiple financial regulators such as CySEC, VFSC and FSCA, making FXPRIMUS one of the most well-regulated brokers on the market today. As a result, FXPrimus has a global presence with multiple offices around the world, while it is able to operate in over 200 different countries around the world.

FXPRIMUS initially started out as a Forex broker, and expanded its approach offering trading in contract for differences (CFD) instruments such as precious metals, energies, financial index products, and even equity securities that trade on the New York, NASDAQ and Hong Kong markets.

The broker is built upon the three pillars of technology, safety and education, making FXPRIMUS one of the most secure online trading environments available. Emphases on putting the customer first, offering tailor-made experience to embrace traders of every level. Security is also top of mind, as it is the firm’s motto: “The Safest Place to Trade.”

With low spreads, starting from just 0.1 pips, FXPrimus traders can take advantage of extremely competitive trading conditions, having the option to choose between two types of Spread Accounts, depending on their preferred trading style.

The leverage offered by FXPRIMUS is pretty good for the industry. Depending on the type of account, you can expect leverage ranging from 1:1 at the lower end of the spectrum, and 1:1000 at the higher end,with Micro-lot trading allowed.

Since FXPRIMUS is an STP shop, you will not have to be concerned about a back-office trading desk, and, as for spreads, they offer the tightest around for variable and fixed bid/ask spreads over traditional or ECN options. You may also want to check out their ECN Premier pricing option, which offers spreads in tenths of a pip for the majors. Account types can be individual, joint, or corporate, but the firm also offers a demo and Islamic accounts, too.

FXPRIMUS uses the industry-wide MetaTrader 4 platform; a very familiar platform among traders, designed to enhance the trading experience, by integrating an array of functionalities and tools, including advanced technical analysis, EAs, robots and signals, and market as well as mobile trading applications.

The platform is available for Windows, Apple or Android and can be conveniently used via the web, mobile, and desktop.

FXPrimus has also invested in their tech infrastructure for trade processing, providing users with reliably, satisfyingly fast execution speeds. All prices are executable thanks to the broker’s use of liquidity providers and STP. Their focus on user security and data privacy is also reflected in their use of 128-bit SSL tech, which translates to user information being protected through high levels of encryption.

Having confidence in your broker is paramount, and few brokers can match the reliability, security and transparency of FXPRIMUS, one of the top-rated brokers in the industry. FXPrimus is certainly a great and reliable choice if you want a broker that is safe, secure, and transparent, and which offers decent trading conditions and excellent promotions. FXPrimus offers all major currency pairings and many minor and exotic ones, as well. To round out the offering, you may also trade CFD’s in indices, equities and commodities, if you wish. Other support tools and training materials are extensive, as one might expect from such a top-flight broker.

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FXPrimus Website

GLOBAL APPROACH

FXPrimus is a truly global platform with a multilingual customer service team on hand. Their MT4 platform is offered in 30 different languages and their website in 11, with a multilingual and experienced, 24/5 customer support that handles quickly any call request during market hours in any time zone. The firm’s learning academy is overflowing with training videos, support materials, and a variety of signal and alert services to complement your daily trading needs. One-on-one support is also available for all levels of competency.

Features at FXPrimus

Why trade with FXPRIMUS? The firm lists these reasons:

  • Founded in 2009 by a team of experienced retail and hedge-fund traders;
  • CySEC, VFSC, 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;
  • Minimum deposit is USD $100 or its equivalent;
  • Trading 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 supports variable pricing;
  • Tight spreads, especially with Premier ECN set up = one pip or less, with no threat of slippage or re-quotes, except possibly during high volume events;
  • One-on-one support;
  • MetaTrader4 trading platform options: Desktop, webtrader, and mobile;
  • 24/5 Multi-lingual support, each trading day.

Supported Platforms

FXPRIMUS elected to go with the MT4 set of trading platform options for desktop, web trading, and mobile. The MetaTrader4 family of products is the industry standard for a reason, and FXPRIMUS has adapted its services to take full advantage of its capabilities, offering tremendous speed of execution and reliability. From a security perspective, all data and personal information are encrypted using the latest in 128-bit SSL technology.

PROMOTIONS**

FXPRIMUS is very generous when it comes to promotions, as it is usually running a variety of promotions to suit different trading styles. Sometimes the promotions come in a form of trading or deposit bonuses, while other times offers especially low spreads on certain trading instruments. We recommend checking the promotions’ page often to claim any free trading funds or cash rebates and real prizes.

Currently FXPRIMUS is offering 3 promotions*:

  • 100% deposit bonus: The company offers to double up any deposit amount, with a possibility to receive up to $10,000 in credit to trade. To make the offer extra ‘delicious’ they are adding up to $4 in cashback for every lot you trade.
  • 30% trading bonus: The company offers an exclusive 30% Bonus, offering up to $1500 free trading funds to both new and existing clients, simply by depositing a minimum of $500.
  • Refer-a-Friend: A promotion that allows you to get as much as $500 in tradable, withdrawal cash for each friend that opens an account and starts trading.

ACCOUNT TYPES

An array of different types of accounts are offered, allowing you to select the best suited option based on style and trading experience level:

The Standard, Premium and VIP account with a $500, $2,500 and $10,000 minimum deposit respectively.

All account options offer daily market outlooks, SMS alerts and a one-to-one consultation on setting up.

VIP or Premium accounts are coming with a training system in place.

Additionally, a demo account option is also available; beginners could use it to learn the foundations of trading, while it allows more advanced traders to test out new strategies without having to put any money on the line.

DEPOSITS AND WITHDRAWALS

FXPRIMUS makes depositing and withdrawing an easy process, no matter where you might be located on the globe. Banking wire transfers, major credit and debit cards, E-Wallets, and even Bitcoin*** can be used, but the firm has also established more than a dozen other payment services that will make local access a snap, together with a prepaid MasterCard option that will enhance withdrawal needs. Be sure to keep your AML documentation up to date at all times to ensure timely processing of your requests.

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Trustworthy Brokerage

Customer Support

Experienced customer support representatives will deal with your questions within a four-minute time limit in a variety of languages during every market day in your respective time zone, 24/5. Customer service can be accessed via phone, email, or live chat.

FXPrimus – Conclusion

The firm has evolved over the past two decades as a leader and innovator in the forex industry for its broad-based offering, reliability, and its network of data centers and liquidity providers spread across the globe. In your review, you will find many pluses and very few minuses for this company. 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.”

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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 on 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 bonus and promotions.

***Cryptocurrencies are offered based on your country of residence while terms and conditions apply.

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As Approved By Forextraders.com

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Tom Cleveland