Founded in 2009, FXPRIMUS is an online trading broker with great emphasis put towards client safety and education whilst utilising new technologies to continue to improve their offering to traders. The broker offers user-friendly trading platforms with very competitive trading conditions including tight spreads, low fees, reliable execution speeds, various funding options and much more.
FXPRIMUS Review, Pros & Cons
- User-friendly trading platforms
- Range of deposit/withdrawal options
- Commission free accounts
- ECN accounts
- Segregated client funds
- Negative balance protection
- VPS service
- Educational resources
- Useful trading tools
- Tight spreads
- Rapid execution speeds
- No USA clients
- VIP account required for best trading conditions
- No fixed spread accounts
In this detailed FXPRIMUS review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
FXPRIMUS was founded in 2009 and is a global online trading broker that offers over 120+ instruments to traders including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. They aim to provide one of the most secure trading environments in the industry with high standards set for responsible trading and safety of clients.
FXPRIMUS use cloud-based servers for worldwide connectivity, combining fast execution speeds, tight spreads from 0 pips and low latency, across a variety of flexible account types with personalised, multilingual support and access to free award-winning educational material. Their systems are encrypted with 128-bit keys to safekeep information that is transferred across and prevent third-party access. They have a global footprint with data centres in New York, London, Hong Kong, China and Singapore.
FXPRIMUS continuously look to improve security for clients and give them peace of mind by implementing the latest technologies and advanced safety mechanisms alongside the educational material provided. Clients are given the tools and resources that can help them make informed trading decisions. They believe that providing traders with the best possible academic, technical and practical support can help to give clients sustainable success whatever their level of experience.
With safety being of the upmost importance to them and the main principle of their operational activities, they were the first trading broker to offer supplementary protective measures to clients including new technologies based on advanced research and prevention of unnecessary risk through informed client education. In addition to this, they run strict tests of services with a risk management model to try and ensure that clients do not end up with a negative balance position.
FXPRIMUS have won numerous awards including Best Forex Broker Europe 2019 (FxDailyinfo Awards 2019), Best Forex Broker Asia 2019 (Global Brands Awards 2019) and Most Trusted Broker Asia 2018 (Global Brands Awards 2018).
FXPRIMUS is the brand name used by Primus Global Ltd who are regulated by the Cyprus Securities and Exchange Commission (CySEC), Primus Markets INTL Limited who are regulated by the Vanuatu Financial Services Commission (VFSC) and Primus Africa (Pty) Ltd who are regulated by the South African Financial Sector Conduct Authority (FSCA). Regulation across multiple jurisdictions helps to give traders confidence that they are trading with a reputable and trustworthy broker that must uphold the highest of standards.
FXPRIMUS conduct regular financial and compliance audits that are externally authenticated to ensure independent, transparent and accurate review of the company finances.
Primus Global Ltd is operating in compliance with the Markets in Financial Instruments Directive (MiFID) which was established to give EU members a regulatory framework for protecting investors.
FXPRIMUS have partnered with Boudica Client Trust for third-party monitoring of client withdrawals to ensure requests are processed in a prompt and efficient manner.
FXPRIMUS is a member of the Investor Compensation Fund (ICF), thus eligible client’s funds are protected up to €20,000. In addition to this, they also have professional indemnity insurance of €2.5million via the Howden Group.
FXPRIMUS client funds are held in segregated bank accounts separate from the companies fund and therefore cannot be used for any other purpose such as running costs. They also offer accounts with negative balance protection.
FXPRIMUS accept clients from most countries excluding residents of certain countries/jurisdictions including, Australia, Belgium, Canada, France, Iran, Japan, North Korea, Singapore and USA.
Some FXPRIMUS broker features and products mentioned within this FXPRIMUS review may not be available to traders from specific countries due to legal restrictions.
FXPRIMUS offer a selection of efficient, powerful and advanced trading platforms that are available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). The different platform options provide quick and easy access to your trading account from anywhere in the world at any time of day. You can open, manage and close positions on the go in just a few clicks.
MetaTrader 4 (MT4) is one of the most popular online trading platforms used by millions of traders around the world. It is the common choice for traders of all experience levels whilst being recognised for having an intuitive and friendly user interface, a vast collection of technical indicators for chart analysis, fully customisable features, multiple timeframes and automated trading capabilities.
FXPRIMUS offers trading instruments across multiple markets through MT4 including Forex, Commodities, Cryptocurrency & CFDs. MT4 is freely available in more than 30+ languages for desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). The MT4 web platform does not require any downloads.
FXPRIMUS offer clients direct market access (DMA) using an exclusive FIX Protocol for those who want a more customised experience with faster execution speeds. It is worth noting that access to the Platinum API does require minimum deposit of $50,000 although margin requirements on some instruments are as low as 1% through the API.
The Platinum API could benefit retail or institutional clients who have developed proprietary trading models, brokers hedging the exchange rates exposure of equity positions, customers who wish to keep their automated systems anonymous and other institutions that wish to diversify risk due to balance sheets or other factors.
FXPRIMUS offer a VPS (Virtual Private Server) through their data centres in London and New York. The VPS connects the MT4 platform to a server which can reduce latency between MT4 accounts and their servers, thus improving the chances of getting filled at better prices. The VPS is free if you have an FXPRIMUS trading account balance of at least $500 and trade 5 or more standard lots 30 days from activation.
FXPRIMUS Trading Tools
FXPRIMUS have a selection of market news and chart analysis tools to assist with your trading decisions and enhance the MT4 trading platforms. Trading tools are available to all traders with any portfolio size and trading experience. User guides and tutorial videos are included for each trading tool.
The connect tool gives clients access to the FXPRIMUS news feed within the MT4 platform to keep you up to date with the latest promotions the company is running.
The market manager tool lets you keep an eye on real time market rates and your trading positions without needing the have your trading platform open.
The mini terminal improves trading efficiency by allowing you to trade with one click, adjust lot size, set stop losses, take profits or trailing stops and more.
The sentiment trader tool will show you the direction other FXPRIMUS traders are trading on each instrument. This is a useful tool for a contrarian trading strategy, if you go against the crowd.
The trade terminal is a fully customisable window through which you can trade 120+ instruments in just one click.
VIP Trading Signals
The VIP trading signals give access to trading signals with live notifications and alerts, including technical analysis for potential trade entry and exit points across different instruments. Clients that maintain an account of at least $10,000 qualify for a lifetime subscription of VIP trading signals that can be accessed from within the FXPRIMUS members area.
The SMS alerts feature can send you important market alerts direct to your mobile to make sure that you stay up to date with the latest market movements and do not miss any trading opportunities that you may be tracking.
The FXPRIMUS economic calendar lets you keep up to date with the latest market news from across the globe. It makes tracking news events easy without needing to access various websites and sources.
FXPRIMUS have a range of trading calculators that can help risk management when preparing for a trade. The trading calculators include a pip calculator, Fibonacci calculator, currency calculator and pivot calculator.
FXPRIMUS have a team of experienced financial analysts that have compiled together a library of educational training videos, seminars and webinars. These provide insights and special reports to help increase your trading knowledge and skills, whilst helping with making informed trading decisions.
There is a collection of informative educational videos on the FXPRIMUS website that includes a range of topics for beginner and advanced traders including trading psychology, trading platforms, technical analysis and more. These can be viewed to help improve your trading expertise.
The FXPRIMUS website has a basic glossary of terms and definitions that can be used to help familiarise yourself with some of the most popular trading related terms.
FXPRIMUS host global seminars and webinars to try and help educate traders of all experience levels. Registration and attendance is free and anyone who is interested in learning more about trading is welcome to attend.
The VIP service provides one on one personalised support with access to the FXPRIMUS trading signals. This service is available to clients who have an account balance of at least $10,000.
FXPRIMUS have over 120+ trading instruments available across multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs on some of the world’s largest companies such as Apple, Amazon, Google, Facebook and much more.
You can trade the world’s most liquid and popular market through FXPRIMUS. There is selection of minor, major and exotic FX currency pairs. Leverage will vary depending on your geo-location with leverage of up to 1:1000 available although EU clients are limited to 1:30 due to MiFID regulation.
FXPRIMUS offer a selection of energy instruments for trading with competitively low spreads, including oil and gas.
Traders can diversify their portfolio with the indices offered by FXPRIMUS including the S&P500 CFD, Nasdaq 100 CFD and Dow Jones CFD. An index is a statistical measure of changes in a portfolio of stocks representing a portion of the overall market. Index trading is for those with a keen eye for changes in a certain sector or a group of stocks.
Trading precious metals can be a means of diversifying a trading portfolio. FXPRIMUS precious metals offered include the ever-popular gold and silver.
FXPRIMUS offers the most popular cryptocurrencies for trading such as Bitcoin, Ethereum and Litecoin. Leverage of up to 1:5 is provided on Cryptos and they are available to trade 24 hours a day, 5 days a week.
FXPRIMUS Accounts & Fees
FXPRIMUS have a selection of account types suitable to different styles and needs of traders. There are 3 accounts to choose from, the variable account, ECN premium account and VIP account. They also provide demo accounts if you would like to test the trading platforms and conditions before opening a real account.
Standard Variable Account
The standard variable account requires a minimum deposit of $100 and is commission free. Spreads are variable depending on the market conditions and may be increased to cover costs. It comes with access to the FXPRIMUS educational resources, trading tools, daily market outlook, SMS alerts and one on one consultation.
ECN Premium Account
The ECN (Electronic Communication Network) premium account requires a minimum deposit of at least $500, has the tightest spreads starting from 0 pips and charges a competitive commission on trades of $5. An ECN acts as a bridge between clients and tier 1 liquidity providers. This account also comes with the same additional benefits as the standard account with access to some extras such as trading signals for qualifying clients.
The VIP account is the top specification trading account available at FXPRIMUS with the best trading conditions they offer and a minimum deposit requirement of $10,000. VIP account holders benefit from direct access to the in-house market analyst 24/5 with a free 30-minute consultation and a dedicated account manager who can provide a 60-minute MT4 training session. There are SMS alerts for immediate market updates, exclusive webinars and VIP trading signals that are updated 3 times per day.
If you would like to practice your trading skills and try out the FXPRIMUS service and platforms, they do provide a demo trading account.
As broker fees can vary and change, there may be additional fees that are not listed in this FXPRIMUS review. It is imperative to ensure that you check and understand all of the latest information before you open a FXPRIMUS broker account for online trading.
FXPRIMUS have a skilled and experienced global customer service team who are on hand to offer you support 24/5 via online chat, telephone or email.
Customer support is available in multiple languages including English, Chinese, Vietnamese, Thai, Malaysian, Russian, Spanish, Portuguese, Arabic, Hungarian, Indonesian, Swedish, Czech & Farsi.
FXPRIMUS Deposit & Withdrawal
FXPRIMUS offer a huge range of funding and withdrawal methods including online payment processors such as Skrill and Neteller for fast and convenient transfers.
Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear. Accounts can be opened in EUR, USD, GBP, SGD, PLN. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
FXPRIMUS Account Opening
The FXPRIMUS account opening process is quick and easy. There is a short online form to complete and you will need to verify your email. You will then need to upload a form of identification and proof of address. Once verified by the accounts team you will then be able to fund your account and start trading.
What is the FXPRIMUS minimum deposit?
The minimum deposit amount required to open a live account at FXPRIMUS is dependent on the account type you choose to open with the broker. The various account options available at FXPRIMUS have unique minimum deposit requirements as follows:
- Standard Account: $500
- Premium Account: $2,500
- VIP Account: $10,000
How do I deposit money into FXPRIMUS?
Depositing into your FXPRIMUS account is quick and easy. The broker accepts a good range of payment methods for different user needs, such as bank wire transfer, credit/debit cards, and e-Wallets, including Skrill, PayPal, and Neteller.
Funds received in an alternative currency to the trading account will automatically be converted into the account base currency. FXPRIMUS does not accept 3rd party deposits. Payments must only be made in your name, matching your FXPRIMUS trading account. If any 3rd party funding is received, it will be refunded and costs applied to the 3rd party.
What are the FXPRIMUS deposit fees?
FXPRIMUS does not apply any deposit fees.
Please note your bank may use an intermediary or correspondent bank to transfer your funds to FXPRIMUS. When this occurs, each intermediary or correspondent bank charges its fee. FXPRIMUS does NOT cover your bank’s fees.
How do I withdraw money from FXPRIMUS?
Withdrawal options are the same as those used for depositing into your account, including wire transfers, credit/debit cards, and e-Wallets.
Please note that withdrawals are handled during working hours a day and 5 days a week; any request made on weekends will be handled the following business day.
What are the FXPRIMUS withdrawal fees?
FXPRIMUS does not charge any fees for withdrawals.
What is the FXPRIMUS commission fee?
The broker charges low commission fees: for the ECN Premium Account, a $5 per buy/sell commission fee is charged for every standard lot traded.
Are there any FXPRIMUS inactivity fees?
The broker charges an initial fee of $30 at the end of 3 months, in which a specific account qualifies as inactive. On every subsequent month that the account remains inactive, there will be a fee of $10.
What are the FXPRIMUS account types?
FXPRIMUS offers a choice of three live trading account types: Standard, Premium, and VIP accounts. This multiple trading account options enable clients to choose the account type that best suits their trading needs.
Is there an FXPRIMUS demo account?
A demo account is available at FXPRIMUS.
The demo account comes preloaded with virtual funds to allow traders to practice online trading in a virtual trading environment before opening a live trading account.
It is important to note that trading with virtual money on a demo account can differ from trading with real funds. The emotions involved that can impact trading decisions may not be the same, and a demo account feed cannot replicate the re-quotes and slippage of a real account.
What are the FXPRIMUS spreads?
The broker offers low spreads starting from 0.1 pips.
Spreads always display the difference between the buy and sell price of any given currency pair to reflect the varying degrees of marketing volatility transparently.
What is the FXPRIMUS leverage?
The maximum leverage available at FXPRIMUS is pegged at 1: 1000.
Leverage allows you to trade a larger position than you would be able to trade without it. While leverage can increase profit potential from winning trades, it can also greatly increase the risk. Therefore, it is of the utmost importance that you have a clear understanding of leverage, how it works, and the risks involved before trading online with leveraged positions at any broker.
What are the FXPRIMUS margin & stop-out levels?
At FXPRIMUS, a margin call occurs at a margin level of less than 50. The Stop Out is at a Margin Level of less than 30.
Margin is the required amount in the trading account’s base currency needed to open or maintain a position. Margin is calculated as a percentage of the notional value of the CFD or a fixed monetary amount.
If your total margin requirement exceeds your total equity, your account will be placed on a margin call. If your account reaches the liquidation level or stop-out level, some or all your positions may be liquidated.
Do FXPRIMUS allow hedging, scalping & expert advisors?
FXPRIMUS has no trading restrictions. They allow for the use of expert advisors (EAs) along with scalping and hedging, making them an ideal destination for traders of all trading styles.
Is there an FXPRIMUS Islamic account?
Yes, you can open an FXPRIMUS Islamic account. Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith. FXPRIMUS offers Islamic accounts to clients following the Muslim faith.
What are the FXPRIMUS trading instruments?
FXPRIMUS offers various financial instruments, including forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies, and CFDs.
How do I open an FXPRIMUS live account?
It is a quick and easy process to open a new trading account with FXPRIMUS. You can visit the FXPRIMUS website and click on the button marked “Sign Up” tab at the top right corner of the website. Once you are on the sign-up page, you will see an electronic form where you can enter your data that is required to open a new account. Please fill out the form and then submit it.
How do I verify my FXPRIMUS account?
When you first open an FXPRIMUS account, you will need to verify it following the obligatory ‘Know your Client’ (KYC) procedures.
They require proof of identity and a proof of residence document from you for account verification. Proof of identity can be a valid passport, driving license, or national ID card. As proof of residence, they can accept a utility bill or bank statement showing your full name and address that is dated within the last six months.
What is the FXPRIMUS trading platform?
FXPRIMUS provides traders with the popular MT4 trading platform, an advanced trading platform that was launched in 2005. The MT4 trading platforms are available in the following versions: desktop, web, and mobile versions.
Where can I download the FXPRIMUS platform?
The WebTrader platform can be accessed directly from the broker’s website via any modern web browser. The desktop applications for Windows and Mac computers can be downloaded from the broker’s website. In contrast, the mobile apps can be downloaded from the Google and Apple stores, which can also be accessed from the broker’s website.
Where is FXPRIMUS located?
FXPRIMUS is based in Cyprus, South Africa and Vanuatu.
Is FXPRIMUS regulated?
FXPRIMUS is the brand name used by Primus Global Ltd, Primus Markets INTL Limited, and Primus Africa (Pty) Ltd. They are regulated by the Cyprus Securities and Exchange Commission (CySEC), the Vanuatu Financial Services Commission (VFSC), and the South African Financial Sector Conduct Authority (FSCA), respectively.
What countries do FXPRIMUS accept?
FXPRIMUS accepts traders from the different parts of the globe, provided their countries of origin permit online trading with international brokers.
Is FXPRIMUS a scam?
No, FXPRIMUS is not a scam. The broker is regulated by multiple financial authorities: CySEC, VFSC, and FSCA.
How can I contact FXPRIMUS support?
The broker’s client support team is available 24/5 to respond to all your trading inquiries. They can be reached via the following contact channels: online chat, telephone, and email.
FXPRIMUS is a well-established online trading broker with great emphasis put towards client safety and education. They have over a decade’s worth of experience within the industry whilst utilising some new technologies to continue to try and improve their offering to traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62.09% 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. Read our full risk disclosure.