Our FXPrimus Review
Introduction
You may already read FXPrimus reviews before since this is one the most popular and secured online broker. Based on Cyprus, this broker started its journey from 2009 mainly focusing on the retailers. Nonetheless, agencies can also try this broker. With it’s 2.5 million coverage, security, operating process and wide varieties of trading instruments, FXPrimus is growing everyday swiftly and flawlessly. And today, we’ll enlighten you with all the top to bottom information and FAQs about this broker.
FXPrimus Regulations & Background
The broker is owned or licensed under FXPRIMUS group which is managed by Primus Markets INTL Limited and Primus Global Ltd. The establishment year is probably 1999. This broker has not only regulation by a single body but also has regulations from different authorities almost all around the whole world. In UK, FXPrimus is regulated by the most famous FCA & in Cyprus by CySEC. Besides, it also has regulation from some authorities of USA and also from Germany, Norway, France and other Europe countries.
FX Primus Reliability & Safety of Funds
If you read this discussion from the beginning, then you should be sure about the positive reliability of FX Primus. Because after taking regulations from enormous number of authorities and having such large number of regular clients, no broker will want to lose its reputation for silly incidents. So, note it.
And if you think about the fund, then you shouldn’t be worried because of the following three reasons:
- Client’s fund from all around the world is gathered inside an offshore account of Barclays Bank. It means always central authority monitors your fund.
- There are numerous number of national investor fund protection to protect your money perfectly.
- All trading works through STP (Straight through Processing) and manual market manipulation is highly restricted in FX Primus.
And all these reasons made FX Primus “Best STP Broker Asia 2013” and the “Best Trade Execution Asia 2013” award winner.
FX Primus Trading Platforms
FX Primus contains Meta Trader 4 for Windows, Mac & Mobile. FX Primus MT4 Windows & MAC platform supports 30 languages and also different instruments like Forex, Futures, Indices, Equities and other CFDs.
However, Mac users can enjoy the benefit of MT4 platform on their iPad & iPhone. Besides, its mobile version contains Pip value calculators, economic news calendars, real-time pricing and execution of trades & also enhanced charting functionality with various timeframes.
FX Primus MetaTrader 4 download option for all platforms are given individually in the official website of FX Primus. Apart of MT4, FX Primus also offers PANM, Platinum API, VPS etc. And finally, FX primus WebTrader login is available for all types of accounts to view and manage client’s trades directly from online.
FX Primus Deposits & Withdrawals Options
FXPrimus minimum deposit is very easy & the minimum deposit amount is USD 100 for all methods. You can deposit your invest via bank wire transfer, local wire transfer, credit cards & e-wallet. For credit card VISA, Masters Card & American express are available. Furthermore, FXPrimus also has their own card which can be used to withdraw your money. For e-wallet the available providers are Neteller, Skrill, GiroPay, Itau, FasaPay, UnionPay, EcoPayz and BitPay.
FXPrimus withdrawal has also a wide range of providers. Like depositing money, you can also withdraw your profit via bank wire, local wire, credit cards & e-wallet. For local wire transfer the minimum transfer amount is USD 50. But for other options, you’ve to withdraw at least USD 100. The rest process are same as deposit.
Minimum Initial Deposit & Leverage
Usually, the minimum initial deposit is USD 100 via any payment gateway. But it also differs on account to account. For example, for standard accounts it is USD 1,000, for premium accounts it is USD 2500, for VIP account it is USD 10,000. However, the maximum leverage given by this broker is 1:500. It may seem little lower than other brokers, but if you know how to use your leverage in real trading, then this small leverage can help you to get larger benefit.
Average Spreads & Commissions
FX Primus spread is relatively lower since it is an ECN broker. However, all of their accounts are not user ECN. There are 2 types of spreads. They are fixed & variable. Fixed spread are available for premium ECN accounts & the amount of spread depends on market liquidity. For standard accounts, only variable spreads are available. But the spread is competitive. So, the chance of getting over spread is lower. You can check the following list for standard spreads on FX Primus:
- EUR / USD – 1.5 Pips
- USD / JPY – 2.0 Pips
- AUD / USD – 2.0 Pips
- GBP / JPY – 2.0 Pips
- EUR / JPY – 2.1 Pips
- USD / CHF – 2.4 Pips
- EUR / GBP – 2.4 Pips
- USD / CAD – 2.7 Pips
- CHF / JPY – 2.7 Pips
- GBP / CHF – 3.4 Pips
FXPrimus Instruments/ Trade Types
According to a statistics daily 5.6 trillion dollar or its equivalent instruments are traded in market. And there are more than 30 popular trading instruments those you should know about. FXPrimus also has a good variation of instrument. You can access spot currency, sport market & CFD through tour account. There are 40+ currency pairs, 3 metal types, crude oil, international market stocks market indices etc. are the most popular available instruments.
FXPrimus Account Types
The following account types will be the connector between you & FXPrimus:
- FXPrimus Demo Account: This account is offered for absolute beginners who don’t even started their career in money making. In demo account, you’ll get all facilities like e real account. You can deposit money, launch your trades etc. but all will be fake so that you can practice without no loss. For learners, demo account is a very good option to start trading. We’ll recommend you to try demo account at least for your first month. Then go for a real one.
- FX Primus Variable Account: If you’ve moderate investment, then variable account can help you to trade forex, commodities, energies and CFDs. In this type of account the spread may not start from 0, sometimes you can make commission-free trades. Additionally, you can access to unlimited study materials and a wide range of trading tools to make your trade more successful and dynamic.
- FX Primus ECN Premium Account: If you’ve an investment size more than 500 USD, then you should sign up for this account. In this account type the spread starts from 0. Furthermore, you can access regular SMS updates, trading signals which will help you to make timely decision. ECN account holder can also access to weekly informative final seminar also.
FXPrimus Education
Trading is an iterative and incremental thing. So, you need to learn new things every day. Therefore, there is no alternative of your success than regular study. And in that case FX Primus has their own education section where study materials for all levels of retailers are available. This material includes trading videos, text based docs & market data.
Additionally, you can also subscribe varieties of signal alert services & daily commentary to keep yourself updated to daily market. You can also have one to one study assistance. But it is not for everyone, rather it depends on account package.
FXPrimus Partners/Affiliates/IB
There are 3 types of partnership packages in FXPrimus:
- FXPrimus Affiliates: This package is a package especially for web owners, but anyone can use this. The process is simple. Opening an affiliate account and then post the affiliate link, banners to your network. And if anyone joins or make trades via those links or banners, you’ll receive significant commissions.
- Introducing Broker: Brokers can also become partner. In this partnership brokers can help FXPrimus by giving personalized support, marketing resources, tracking etc. In exchange, they will receive a commission or profit share depends on what kind of service they’ve given.
- White List: If you are a broker, you can be white listed by FXPrimus. And FXPrimus will help you to grow your business while you’ll just seat back & see growth of your business. But, you need to share a little with them. That’s the deal.
FXPrimus Customer Support
FX Primus has multilingual customer support via phone, mobile, live chat & email. The website supports around 8 languages. Besides, you can also read trading guides, training videos are other helpful contents on trading from their website. You can read MT4 through 30 languages & all are available in FX Primus version of MT4. For phone calls usually, the call is processed within 2-4 minutes so that clients need not to be waiting for long time & get their solution as early as possible.
Bonuses and Promotions
To motivate their clients to be consistent in trading & invest more money, FX Primus offers bonuses & promotions on difference occasions and schemes. Some of them are:
- 100% Deposit Bonus for some conditions
- Instant Secure Funding with 0 fees
- 30% trading bonus
- Lowest Spread for Gold
- Lowest Spread bonus for Oil
FX Primus Pros & Cons
| PROS | CONS |
| FX Primus has world class regulations and may be the one of the top brokers in terms of regulation variations. | It can’t provide same execution performance for all trading instruments. |
| Funds are gathered to a single bank account to give safer passage to client’ fund. | |
| Availability of ECN trading. | |
| Lower spread, higher liquidity. |
Conclusion
In a nutshell, FX Primus is a highly regulated ECN broker those supports multiple trading instruments and uses MT4 based trading platforms for its clients. However, as it is an ECN broker, performance for all trading will not be the same. And for that reason there are lots of online reviewers who claim FX Primus a scam due to their improper selection of instruments. That’s why you shouldn’t follow that trend without consideration. Rather consult to an expert, use your instinct and start your trading with a convenient trading instrument. That’ll be a nice move towards journey to your trading world.
Frequently Asked Questions (FAQ)
Is FXPrimus regulated?
FXPrimus is regulated by FCA in UK, CySEC in Cyprus and many other US regulators. Besides, it is also regulated in Germany, France, Greece, Norway etc. countries.
Where is FXPrimus based?
Its HQ is in Cyprus. But the operation of FX Primus covers almost 200 countries around the world.
How does FX Primus make money?
Since FX Primus is an ECN broker, it earns from lower spread and commission.
How to deposit in FX Primus account?
You can use your e-wallet or credit card to deposit on FX Primus. Besides, bank transfer is also available for everyone.
How to withdraw money from FX Primus?
There are some available methods for that. They are Neteller, Skrill, GiroPay, Itau, Fasa Pay, Union Pay, Eco Pays and Bit Pay. Besides, bank wire transfer & local wire transfer is also available for withdrawal.
How to open an account with FX Primus?
The process is as simple as making a cup of tea. You’ve to visit the official site of FX Primus & click Open a new account from the top of the site. Then choose your package, fill up the form & submit for approval. After that, you need to submit your official documents like passport or driving license to verify your identity. And then you are ready to deposit your investment. Cheers.
Is FX Primus reliable?
Since it is highly regulated and also registered for different fund protection schemes, so you can rely on this broker.
Does FX Primus use MetaTrader?
Yes, FX Primus uses MetaTrader 4 for windows, Mac & Mobile platform. Additionally, it also uses
Is FXPrimus a scam?
Sometimes, you may hear these types of convictions from disappointed retailers. But if you inspect these claims, most of the time you’ll see the lack of personal expertise of the traders is the main reason for failing. And that’s why before saying FXPrimus a Scam, try to discuss with successful and experiences traders.
How safe is FXPrimus?
In terms of safety, this broker should be positioned in one of the top levels because of their variations of regulations & business policies.
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In the realm of forex trading, FX Primus emerges as a trustworthy ally. The primus forex trading access it provides comes with insightful analytics, paving the way for a seamless and efficient trading experience. It’s a harmonious fusion of security and innovation, perfectly tailored for traders pursuing optimal performance in the forex market.
Recently started trading with FXPRIMUS broker, and I’m totally impressed! The platform is super intuitive, making trading feel like a breeze. Their customer support is always on point, ready to assist. Definitely a great choice for anyone looking to trade with ease and confidence!
I use FXPrimus for its user-friendly interface and diverse asset offerings. I particularly value their commitment to security and quality customer support.
I recently started using a new online trading broker and would like to share my impressions. The platform is user-friendly, especially helpful for a beginner like me. I also liked the educational resources like articles and videos. They are excellent for understanding the investment world better.