FXPRIMUS Review
Broker: FXPrimus
Leverage: 1:30 | 1:200
Regulation: CySEC, VFSC
Min. Deposit: 100 US$
HQ: Vanuatu
Platforms: MT4, HTML5 and cTrader
Found In: 2009
Website: fxprimus.com
FXPRIMUS licenses
Primus Global Ltd is regulated by CySEC, (Cyprus).registration number. 261/14
Primus Markets INTL Limited - Authorized by VFSC (Vanuatu), registration number. 14595
What is FXPrimus?
FXPRIMUS has been regulated by several jurisdictions online trading providers. They strive to provide a safe environment with fastest execution speeds combined with innovations and numerous rewards that recognize FXPrimus for being the best Forex provider to their trader. To meet the needs of clients around the globe, the broker has its Vanuatu offices. It also has a Forex Broker in Cyprus, South Africa and other countries.
FXPRIMUS actually operates as the FXPrimus Group through its three main brands. Clients may also benefit from deep liquidity provided by top-tier international banks available anywhere in Forex.
Overview
FXPrimus is a reliable broker with top regulations such as CySEC South Africa and FSCA South Africa. (Read the FSCA Regulated Vatrade Review). FXPrimus offers professional education and great research for beginners. They are one of the largest brokers in South Africa. There is a variety of trading platforms available and all styles of trading are accepted.
The negative aspect of product offerings is that they are based on Forex trading and CFDs.
Pros
Sign Up Bonus
Affiliate Program
Cons
Highly-Regulated
High Min. Deposit on selected accounts
Rating of the company overall
Reliability ⭐⭐⭐⭐
Platform ⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐⭐
Support ⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐
RATING: 4.4
Awards
FXPrimus has one of the most valuable offerings. It established an online trading environment that is safe and lucrative. Prices start at 0 pip. FXPrimus' many achievements and the excellent trading conditions have been recognized by over 100,000 traders worldwide, as well as global publications. These awards include the Best Forex Broker Europe 2019, FxDailyInfo Awards, Most Trusted Asia Broker by Global Brands Awards and many more.
Is FXPrimus a safe or scam?
FXPrimus isn't a fraud. It is an authorized broker that also offers Professional Indemnity Insurance up to 2.5m EUR for CFDs and Forex trading at low risk.
Is FXPrimus Regulated?
It is a brand name that Primus Global Ltd used to be known as FX Primus Europe Ltd (CY) Ltd. This is a part FXPrimus group, a global trading company with many representative offices. The Cyprus Securities and Exchange Commission CySEC regulation allows the broker to provide European clients services due to its Cyprus headquarter.
FXPrimus is also regulated by other jurisdictions through the license from FSCA South Africa. This allows South African residents and international traders to trade relatively quickly. FXPrimus also serves entities and is authorized by the VFSC(Vanuatu),which, while an offshore license, does not require any strict safety measures.
If the company is only offshore, we don't recommend trading or trusting them. However, FXPrimus (a European broker) is considered a safe trading environment due to its many follow-ups to Forex guidelines.
Is FXPrimus legal for Malaysia?
FXPrimus is not a Malaysian legal entity and it is not regulated by Bank Negara Malaysia BNM. This does not mean you cannot open an account with FXPrimus if you're a trader in Malaysia. The broker has Vanuatu entities that accept clients from around the globe. This simply means you will not be able to open an account with a Malaysian company.
Although it may sound misleading, FXPrimus is a trusted broker and you can always choose to take a trading chance or not.
What can you do to be protected?
Investor protection and compliance with the rules are performed in many ways. Brokers must keep their money in separate bank accounts and ensure that they are protected at all times. These rules are monitored and audited regularly by regulatory bodies. We bring this to your attention once again.
All clients who trade under Negative Balance Protection will be protected from any losses exceeding the account balance. FXPRIMUS also offers a EUR2.5 million client fund insurance as an additional safety measure.
Leverage
Because leverage allows you to trade large amounts of money, it can increase your initial balance for certain times. This number is determined by the instrument and regulated. Although leverage can increase your exposure to the markets, it also increases the likelihood of losing or making profits. It is important to understand how to use leverage effectively.
FXPrimus, a regulated broker, offers leverage levels which are determined by the regulationseach authority impose. It means that you need to verify with the company customer service which level you are allowed to use. This may depend on your country of residence. You can also choose which entity you want to open an account under, but it is important that this be verified with FXPrimus.
CySEC and MiFID guidelines allow traders to trade with European FXPrimus. The maximum leverage level for Forex instruments is 1:30
South Africa traders and entities may be exposed to leverage of 1200 for currency pairs, and lower for other instruments
FXPrimus, a global entity based in Vanuatu, allows you to trade high leverage with up to 1:300
Types of accounts
FXPrimus offers a variety of account types to suit the needs of beginning traders as well as professionals.
FXPrimus offers multiple account options that allow you to trade on all its instruments and to access markets with variable spreads. You will also trade on competitive spreads and no commission basis , as well as unlimited access to educational and research material. We will discuss this further in our FxPrimus review.
Types of accounts
FXPrimus offers both Demo and Live Accounts to help you practice or get familiar with the platform. accounts are divided according to the investment size. This means that spreads will be lower if you trade with a higher account grade. You can also access the micro account tradingoption by the option to trade Micro lots. Find out more micro account brokers.
A Premium Account also offers additional services such as weekly financial trading seminars, and the lowest spreads.
The Variable Account, also known as Standard Account, requires - 1000$; FXPrimus ECN Premium account - 2,500$; VIP Account – 10,000$. These amounts may also vary depending on the FXPrimus entity you trade with.
A Swap-free Islamic Account is also available to allow traders of Islamic faith to trade without swap charges and spread widening.
How do I create a Forex Demo account?
You can create a Demo account, which is an excellent and necessary option to practice your trading before moving to Live trading. Follow the steps below.
Once you are ready, you can continue with the necessary verifications and open a Live Account with all FXPrimus benefits.
Step by step guide to opening a Demo account
Log in to FXPrimus
Your personal data: First and last name, country of residence, email, telephone, etc. You can also follow an existing Google or Facebook account.
Verification via email to gain access to your trading area
Once you are ready, you can activate live trading via preference selection in the client area
Trade Instruments
FXPrimus allows you to trade more than 120 instruments, including Forex and Commodities. Although trading instruments can seem limited at times, they are still popular enough to diversify your portfolio, especially when you consider the cost-effectiveness of FXPrimus. We will discuss this further in our FXPrimus Review.
FxPrimus Markets in comparison to other Brokers
FXPrimus can also be compared to other industry offerings. Below you will find a table that may show available assets and instruments.
Fees
FXPrimus Fees All trading styles are welcomeat FXPrimus. They are based on tight spread conditions, very competitive trading costs and spreads of 0.1 pip with no commission. If you choose to trade via ECN connection, with raw spreads, you will be charged a 10$ per lot commission.\
Other fees such as withdrawal fees and non-trading charges should also be considered. These fees will be investigated in greater detail.
A summary of the Non Trading Fees
You should also consider these fees, as brokers will typically charge accounts if there is no activity over six months. This is known as FXPrimus.
FXPrimus will not cover withdrawals or deposits. We'll discuss this further in our FXPrimus review.
Spreads
FXPrimus Forex fees We find that FXPrimus charges for Standard accounts are quite high in the industry for currencies, but very attractive offering for Cryptocurrency and Commodities.
ECN account fees for all instruments are very reasonable, as is a per-lot commission. See snapshot below. You can refer to the table below to see typical spreads for CFD brokers, and also see the trading conditions for popular brokers FP Markets.
FXPrimus rollover
Rollover and overnight fee are additional costs. These charges are for positions that are held for more than one day. They are determined by whether you trade selling or buying, and the difference between the bids. Similar to if you trade GBPUSD pair swap, 2.0485 for short positions and -12.282 if long.
Withdrawals and deposits
FXPRIMUS provides a wide range of funding options to its clients around the world, which allows them to fund their accounts with confidence, safety, and trust. Always verify that FXPrimus is able to fund your account according to the location and entity you reside in.
Deposit Methods
You can deposit in many ways. FXprimus also offers clients coverage for the fees and charges. However, it is important to check with your payment provider to see if any fees may be waived according its policies.
You may also use the methods.
Bank Transfers
Credit card payments along with the possibility of issuing FXPRIMUS Mastercard allowing for an easy transaction with a minimal deposit of 100$
Ewallets including Neteller, Skrill and bitpay.
FXPrimus minimum deposit
To open a Standard Account, you must deposit 1000$. The minimum transfer amount is only 100$. You can choose the method and the number of funds that you want to transfer.
The Variable Account, also known as Standard Account, requires - 1000$; FXPrimus ECN Premium account - 2,500$; VIP Account – 10,000$. These amounts may also vary depending on the FXPrimus entity you trade with.
FXPrimus Minimum Deposit vs Other Brokers
Withdrawal
FXPrimus withdrawals can be made free of charge. Withdrawal methods are presented in the same way as deposits. Also, make sure to verify the policies before withdrawing money.
How can I withdraw from FXPrimus
To withdraw money from FXPrimus, you will need to log in to your account and fill out a request. These are the steps to withdraw money from FXPrimus.
Log in to your account
Through the Account area, go to Withdraw page
Click 'Withdraw' to select the withdrawal method you prefer and the amount that you wish.
Complete the withdrawal request by providing the necessary information
Submit and confirm your withdrawal
Your Account allows you to track the progress of your account
Trade Platforms
You can trade at FXPrimus 120+ Instruments by using one of the most popular MetaTrader platforms in the industry, which is compatible for mobile or desktop trading.
Platform Ratings
The broker has made the MetaTrader4 his mainstay. There are versions available for Desktop Windows and Mac, Android, iOS, and iOS mobile trading devices through MetaTrader Platform.
MT4 on Windows & Mac for Desktop and Tablet, Mobile & Webtrader with VPS Connect to your Trading Platform quickly, efficiently, and performing orders. This is certainly a top ranking.
Web Trading
The web trading platform is a great tool for trading. You can log in to your account from any internet browser. WebTrader uses MT4 layouts and design. It offers a clear view, many tools, and enhancement options. However, for day trading and comprehensive analysis, we recommend the desktop version.
How to place an order
Placing an Order is easy. You can trade and open trade directly from your chart by selecting the menu item 'Place Order'.
Click on it and navigate to the instrument chart where you want to trade. You can set your preferences Market Order or Pending order and select the appropriate risk levels, stop loss, and take profit. You're done. If you don't reach your set levels, you can close the trade manually and adjust it.
Take a look and feel
Desktop trading platform
If you are a professional trader, or need more capabilities from the platform desktop version, this is the right choice. Depending on your device, you can choose the MT4 Desktop Version for Mac or Windows to fully utilize its capabilities.
A desktop version of the platform gives you full access to technical analysis and chart capabilities, MT4 renowned for. You can also automate your trading with Expert Advisors. It is easy to use, has a clear view and offers a lot of education videos.
FXPrimus doesn't restrict trading styles. You can use scalping and hedging as well as social trading options, which we will discuss further.
Security
MT4 is a very popular platform, well-known for its powerful chart feature, and extensive tools. These capabilities can greatly enhance trading. MT4 also has the added benefit of being highly secure.
PAMM
FXPrimus also allows you to trade with social trading. This is a combination of PAMM Broker and FXPrimus' social trading capabilities. Facilitating relationships between World Class funds managers and Followers PLATINUMAPI With Fix Protocol. You can become a followerby following the steps shown below. If you are a professional, FXPrimus offers a package that allows you to gain greater exposure to the markets.
How to become a Follower
Mobile Trading Platform
It is difficult to imagine trading today without a mobile platform for trading. This allows you to keep track of the market and be updated whenever you want. FXPrimus Mobile Platform also delights us with a variety of technical analysis and chart options. This allows you to customize an already great design.
All desktop and web platform capabilities, including advanced analysis tools, fee reports, social trading capabilities, and social trading capabilities are still available.
Notifications and alerts
SMS and email alerts are another useful tool that FXPrimus offers. They allow you to be more flexible than just looking at charts all day. You can select one or more instruments that you wish to monitor and then set a price range. Once the price has been reached, you will be notified via email or phone.
Support for Customers
FXPrimus Customer Support aims to make your experience as easy as possible during account opening, trading, and any other service. FXPrimus entities worldwide also support many languages.
Support is available via email, international phone lines and live chat.
Education
The broker offered a comprehensive service and focused his efforts on implementing targeted strategies using advanced educational materials that are suitable for all levels of traders. FXPrimus believes that education is essential for online trading success. It allows for better delivery and high quality online trading.
Beginning traders are welcome to attend seminars around the globe that coordinate and allow the public to become involved in trading.
Research
The company's experts also provide various Research tools and materials along with advanced learning materials. This includes news feeds that are available directly to traders, helping them make informed decisions during daily market outlooks, trading signals and videos, as well as training sessions and custom-made market reports.
You still have access to various trading tools, including the Economic Calendar and Trading Calculators. VIP clients can also access Platinum API and Premium Trading Signals on an exclusive basis. You can also access market updates via SMS Service. This is very helpful.
Conclusion
FXPRIMUS has a wide selection of instruments that can be traded. It also offers the option of ECN connectivity and raw spreads. Support will be provided to traders with different strategies and sizes. We like the fact that both beginners and professionals can find suitable trading accounts, as well as the wide range of tools available to meet their basic and most urgent needs.