FXPrimus Review
📅 Year founded	2009
📈 Multiple top-tier regulation	Yes
📍 Headquarters	Limassol, Cyprus
🌍 Country of regulation	Vanuatu / Cyprus
✅ Regulators	VFSC / CySec
📈 Execution Type	Market Execution
💰 Minimum Deposit	$15 USD
🛡️ Negative Balance Protection	Yes
📉 Trading Platforms	MetaTrader4 / MetaTrader5 / cTrader / Web Trader
☪  Islamic account	Yes
📉 Trading Instruments	Forex / Metals / Energies / Equities / Indices / Cryptocurrencies
📱 Mobile trading	iOS / Android / Windows
💳 Payment Types Accepted	Debit and Credit Cards / Bank Wire Transfer / Neteller / Fasapay / TrustPay / UnionPay / Bitcoin / ecoPayz / SafeCharge / emerchantpay
🎮 Demo Account	Yes
ⓒ Copy Trading	Yes
🎁 Bonus Offer	No
💰 Account Currencies	USD / EUR / GBP / SGD / PLN
📈 Minimum Trade	0.01 Lots
📈 Account Types	PAMM / MAM
📈 Margin Trading	Yes
📈 Trading fees	Low
📈 Inactivity fee	After 90 consecutive days
💰 Withdrawal fee	No
☎ Customer Support	24/5
💰 Max. Leverage	1 000:1
✔️ Hedging Allowed	Yes
✔️ Scalping Allowed	Yes
💰 Commission	Zero on Classic / $8 USD on Pro / $5 USD on Zero
💰 Spreads	From 0.0 pips
💰 Leverage	Flexible
💰 Currency Pairs (Total Forex pairs)	40 +
🔢 Number of clients	300 000 +
🥇 Instruments Offered	130 +
📙 Education	Articles / Videos / Webinars
Click here ✅ Open a Trading Account

 

WHAT IS FXPRIMUS?

 

Found in 2009, FXPrimus is a respectable forex and CFD brokerage firm with its headquarters located in Limassol, Cyprus. This online broker is regulated by CySEC and the VFSC.

At FXPrimus, clients can trade a range of trading instruments such as forex, metals, energies, equities, indices and cryptocurrencies.

The broker also offers a variety of trading platforms to its traders including MetaTrader4 (MT4), MetaTrader5 (MT5), cTrader and Web Trader.

 

INTRODUCTION

 

FXPrimus started rendering its services in 2009, to clients from all around the globe. In last 15 years, the broker has gained a fantastic reputation in the industry and is considered one of the leading brokers in the world.  

The trade registration name when it commenced business was FX Primus Europe (CY) Limited. It was founded by Terry Thompson who is the Chief Executive Officer of the company. Since its inception, the company has become registered and regulated by the CySEC and the VFSC.

The firm is now established in different parts of the world, offering their global financial instruments to traders from many walks of life.  

While this broker functions in many parts of the world, they have specifically focused on Africa and Asia as is evidenced by the many awards they have won in those regions. They also engage in different market instruments and trade through the most trusted platforms available to the industry, in the form of MT4 and MT5. 

Before diving further into this review, let’s take a look at the pros and cons of FXPrimus to gain a better overlook of the broker.

 

PROS & CONS

 

PROS

• The broker offers the most reliable trading platforms such as MT4 and MT5.
• It is CySec and VFSC regulated.
• Minimum deposit of only $15 USD is required to start trading.
• It offers competitive ECN spreads on certain accounts.
• There is a VPS services that can be accessed.
• Costs on the Classic Account are very low.

 

CONS

• Costs on the Pro Account are on the high side if you select MT4 as your trading platform.
• The broker is not regulated by the FCA or ASIC.

 

TRADING INSTRUMENTS

 

When you are looking for a broker to do business with, you must consider several factors. This includes the number of trading instruments that are available with that broker. 

FXPrimus offers over 130 instruments that their clients can trade, including over 40 currency pairs. The instruments on offer from this broker include forex, metals, energies, equities, indices and cryptocurrencies. These instruments are discussed more in depth below:

 

Forex

Forex is the most liquid market in the world, with over $6 trillion USD being traded daily. This represents a fantastic market for traders to be involved in due to the high volume of trades and availability of liquidity.

At FXPrimus, traders can choose from over 40 currency pairs to trade, all available at low spreads and competitive commissions. On the Classic Account, leverage of up to 1 000:1 can be accessed.

 

Metals

There are a variety of precious metals available from this broker including gold, silver and platinum amongst others. Metals always represent a good place for traders to invest their money as precious metals are seen as ‘safe havens’ in times of market volatility.

Leverage of up to 500:1 can be accessed when traders utilise precious metals with this broker.

 

Energies

Clients are also able to access the energies markets with FXPrimus in the form of US Oil and UK Oil. Margin requirements start from as low as 3% and traders can access these instruments with minimum trade sizes of only 0.01 lots.

 

Equities

This is the buying and selling of company stock shares. FXPrimus offers these instruments in the form of futures contracts and traders can access equities with margin requirements of only 10%. Traders are able to access equities on US and EU Markets.

 

Indices

FXPrimus makes provision for their clients to trade indices. Margin requirements start as low as 1-5% depending on the index selected. There are a variety of indices available including DE30 and the DXA.

Indices represent a good instrument for traders due to their lower volatility.

 

Cryptocurrencies

Digital currencies can be traded through FXPrimus, but unfortunately only for 24/5 which is shorted than the 24/7 timeframe that cryptocurrency markets are open.

Some of the cryptocurrencies included with FXPrimus’ offering are Bitcoin, Ethereum, Bitcoin Cash and Litecoin.

 

TRADING PLATFORMS

 

The trading platform is the software you use to gain access to the trading instruments. FXPrimus does offer some of the best trading software in the world, in the form of MetaTrader4 (MT4) and MetaTrader5 (MT5).

The MetaTrader software is downloadable, where traders then need to install it on their desktop. However, the broker also offers these platforms in the form of web trading, where the software does not need to be installed, but can be accessed via the internet.

 

MetaTrader4 (MT4)

When it comes to the use of MT4, there are some great features that are available to the user, including some of the following:

• It is a user-friendly trading device.
• This platform is highly customisable.
• More than 50 indicators are pre-installed on the platform.
• It makes one-click trading possible.
• Comes with historical timeframe data.
• Supports multiple languages.
• Available in 9 different time frames.
• It comes with interesting features for order types and trade executions like trailing stops, stop orders as well as pending orders.
• This is available in different operating systems such as iOS, Android and Web Trader.

 

MetaTrader5 (MT5)

MT5 is considered to be the upgrade on MT4 and comes with various additional features that were not previously available on MT4, these features include:

• Support in even more languages.
• Comes with an advanced strategy tester.
• It comes with hedging and netting modes.
• Available to trade in 21 different timeframes.
• Ability to analyse short and long-term trends.
• Comes with eight order types.
• Financial news.
• Comes with even more built-in indicators.
• More price alerts can be set.

 

As mentioned above, MT4 and MT5 do not need to be downloaded necessarily, as they are also available in the form of a web trader. This makes the set up and access to your trading environment easier and more efficient. Of course, installing the software is recommended as more features are available thereon.

MT4 and MT5 are also accessible via a mobile app which can be downloaded from the Apple App Store and the Google Play Store, making trading from your phone a possibility.

 

cTrader

The cTrader platform is well-known and used by traders around the globe. This is another fantastic offering from FXPrimus as there are many great features available to traders on this platform, including some of the following:

• 26 different timeframes are available.
• Over 70 stock indicators provided for expert technical analysis.
• Economic calendar integration.
• Fully automated trading capabilities.

It must be noted that the cTrader platform is only available to Classic account holders.

 

ACCOUNT TYPES

 

FXPrimus provides three account options for its customers to select from. These accounts include the PrimusCLASSIC, PrimusPRO and the PrimusZERO accounts.

 

PrimusCLASSIC (the Classic Account)

The Classic Account is the most versatile account offered by the broker and includes the ability to copy trade and use the cTrader platform, which is not available on the other account types.

Thus account allows leverage of up to 1 000:1 when using MT5 and utilises the STP system for lightning fast execution speeds. Spreads start from 1.5 pips with no commissions charged and the account can be opened with a minimum deposit of only $15 USD.

 

PrimusPRO (the Pro Account)

The Pro Account is different to the Classic in that lower spreads are available to traders. Spreads on this account tart from 0.3 pips while commissions are charged at $8 USD on MT5 and $10 USD on MT4.

Leverage of 500:1 can be accessed and you can start trading with a minimum deposit of $500 USD. Although this is higher, it does mean you gain access to a free VPS service.

 

PrimusZERO (the Zero Account)

The Zero Account offers ultra-low spreads, starting from 0.0 pips with commission of $5 USD payable per lot. Only the MT4 platform can be used on this account type and minimum deposits start from $1 000 USD, making it less accessible to traders.

 

HOW TO OPEN AN ACCOUNT

 

To open an account with FXPrimus is easy to do. On the broker’s website, once you have selected the type of account you want to open, there is an application form which must first be filled in by you. 

Once this is done, the broker follows the KYC (Know Your Customer) system which requires you to provide a range of personal information including identity documents and proof of residence amongst others. The faster you provide these documents, the faster you can begin trading.

Once these documents are verified by the broker, you will be able to deposit funds and then begin trading with FXPrimus.

 

DEMO ACCOUNT

 

A demo account is also necessary, especially for new traders. This broker provides access to a free demo account which can be used before depositing funds with the broker. This enables you to see experience their trading conditions and learn about the market.

Demo accounts are especially useful for new traders who are still learning the ropes and thus it is vital that real market conditions are simulated in the demo account, which is exactly what this broker does.

Demo accounts are also useful for traders who want to back test potential new strategies before implementing them onto their live accounts.

 

SOCIAL TRADING AND COPY TRADING

 

Social trading and copy trading are fairly new to the trading industry and although these features have been around for a long time, interest in them has grown tremendously over recent years.

At FXPrimus, social and copy trading features can be easily accessed via the MT4, MT5 and cTrader platforms. These platforms seamlessly integrate these feature onto your trading account through the use of EAs.

It must be noted, that this broker only allows social and copy trading features to be implemented on the Classic Account.

 

COMMISSIONS & FEES

 

Commissions and fees are payable no matter which broker you decide to use. Fortunately, at FXPrimus, the broker offers a variety of account types meaning that traders have flexibility and input when choosing an account to match their trading style and preference.

On the Classic Account, commissions are built into the spread, meaning they are not charged by the broker on top of your trades. While on the Pro and Zero Accounts, commissions are charged from $8 USD and $5 USD respectively.

Further fees charged by the broker include swap fees, which are payable when positions are held open overnight, unless the Islamic Account is selected. On this account type, there are no swap fees due to Muslim clients’ adherence to Sharia Law. Islamic Accounts can be opened in the style of any of the available account types.

There is also an account inactivity fee applicable, however this is only charged once an account has been inactive for a period of 90 consecutive days.

 

LEVERAGE

 

Leverage is a tool used by brokers to allow clients to trade with more capital than they have in their account. This can be a fantastic tool when the market is in your favour, as your profits are multiplied, however it can also have the same effect in the opposite direction, meaning your losses are multiplied too.

The maximum leverage available is usually dependant on two factors: the trading instrument selected and the jurisdiction in which a trader resides, due to the regulatory bodies’ regulations.

At FXPrimus, leverage is flexible and can easily be changed according to your needs, while the maximum leverage available is up to 1 000:1 on the Classic Account, and up to 500:1 on all other accounts.

 

WITHDRAWALS AND DEPOSITS

 

The broker provides different means of depositing and withdrawing money from the platform. These methods include the debit and credit cards, bank wire transfers, Neteller, Fasapay, UnionPay, Bitcoin, TrustPay, ecoPayz, SafeCharge and emerchantpay.

The broker also allows deposits in a variety of different currencies including USD, EUR, GBP, SGD and PLN to name a few. These are automatically converted to the account base currency of your choice.

Unlike many other brokers, FXPrimus does not charge any commissions or fees on withdrawals and deposits.

 

CUSTOMER SERVICE

 

There are multiple ways made available by the broker to get in contact with them. Some of these include via telephone, email and the live chat feature. They further allow client to contact them via Messenger, WhatsApp, WeChat, Zalo, Line and Telegram.

Their global team of customer support staff offer this service in a variety of different languages, making support easily accessible to most traders.

Customer support is available 24/5, which coincides with when the majority of trading markets are open.

 

SAFETY AND SECURITY

 

The broker is secure as they are regulated by the Cyprus Securities and Exchange Commission (CySec) as well as the Vanuatu Financial Services Commission (VFSC).

The regulation across different jurisdictions is always a good sign when it comes to the safety and security of brokers. The broker further provides negative balance protection to all its traders, meaning you can never lose more money that what is available in your trading account.

Additionally, FXPrimus also keeps their clients’ funds segregated from their own, meaning your funds are never used to carry on the operations of the business.

 

PROMOTIONS

 

According to our research, the broker does not currently offer any promotions or bonus programs, however this can always change and it is recommended that you check their website regularly to see if this has changed.

 

RESEARCH

 

Research is the most important tool in any successful trader’s arsenal. Any experienced trader will tell you, it takes preparation to succeed in the trading industry. This is why many brokers provide their client with various research tools to enable them to become successful.

At FXPrimus, this is no different as there are a variety of different articles and videos available on their website. Additionally, there are a multitude of research tools available on the MT4 and MT5 platforms for traders to utilise.

 

EDUCATION

 

Education is another important feature that brokers provide to their clients. This is especially key for new traders who have yet to gain an understanding of the market.

This broker provides some educational tools that can be made use of, including videos, various articles and webinars hosted by the broker’s team.

These tools can also be used by more experienced traders who are looking to learn something new, or sharpen up their skills.

 

GLOBAL AWARDS

 

FXPrimus has won multiple international awards over its years of service, highlighting their capabilities and superb service delivery as a broker. Some of the most recent awards include the following:

• Best Partner Programme S Africa and SE Asia (2021) – International Investor Magazine.
• Best Partner Programme SE Asia (2021) – Finance Derivative Magazine.
• Best Forex Broker SE Asia (2020) – Finance Derivative Magazine.
• Best Forex Introducing Broker Programme in Africa (2020) – Global Forex Awards.
• Most Trusted Broker SE Asia and Africa (2020) – International Investor Magazine.
• Best Asian Forex Support (2019) – International Investor Magazine.
• Best Forex Broker Europe (2019) – FxDailyInfo.
• Best Forex Broker Asia (2019) – Global Brands Awards.
• Most Trusted Broker Asia (2018) – Global Brands Awards.

 

SAFE OR SCAM?

 

At Brokersuggest.com, we always view it as a good sign when brokers are regulated across different jurisdictions, by more than one regulatory body. This is certainly the case with FXPrimus, as they are regulated by CySec in Cyprus and by the VFSC in Vanuatu.

The broker’s existence for over a decade also helps to view them as safe, as they have built up a solid track record and good reputation for being a transparent and trustworthy broker.

A further good sign is that the broker keeps client funds segregated from their own funds, meaning your money is always protected.

Additionally, the founder and CEO, Terry Thompson, comes from the world of hedge funds, has been in the industry for a long period of time and is well respected in the world of trading.

 

CONCLUSION

 

It is clear from the above review that FXPrimus has a superb offering available to its clients. They offer low spreads with competitive commissions while utilising the ECN system for a great trading environment. The availability of the MetaTrader and cTrader platforms, along with the VPS service they make available, also add to the appeal of the broker’s trading environment.

It is clear to see that FXPrimus is a great broker and the team at Brokersuggest.com can confidently recommend FXPrimus to be your next trading partner.