Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

FXPRIMUS Review

3.71
7 reviews
PAYMENT SYSTEMS
  • Deposit
  • Withdrawal

FXPRIMUS general information

Founded in: 2009 year
Headquarters:
Cyprus
Offices in the country: Cyprus
Website languages:
English, Arab, Vietnamese, Indonesian, Spanish, Chinese, Malay, Portuguese, Russian, Thai
Execution model:
STP
Support languages:
English, Hungarian, Vietnamese, Spanish, Malay, Russian
Regulated by: CySEC (Cyprus)
VFSC (Vanuatu)
Mobile trading: iOS, Android, Windows Phone
Types of offered accounts:
Demo accounts (with a time limit), Standard Accounts, ECN accounts, Swap free accounts, VIP accounts, Micro accounts, Segregated accounts
Trust management: PAMM, MAM
Affiliate program: Yes

FXPRIMUS Forex broker description

Pros

  • A wide range of trading assets: FXPRIMUS provides 120 trading assets, including currency pairings, precious metals, petroleum products, indices, CFDs, and cryptocurrencies.

  • Strong security network: FXPrimus employs specialized software and advanced encryption technologies with 128-bit keys. 

  • High Insurance Coverage: FXPrimus covers each client's fund for up to 5 million euros. Hence, clients can rest assured that their money is safe.

  • Low spreads: The minimum spread is 0.1 pips to help traders save money on trading fees.

  • Negative balance protection: FXPrimus sets a minimum wallet balance across account types to protect traders from losing their deposits.

  • Trading notifications: FXPrimus alerts traders via trading signals and SMS notifications of any trading volatility. This keeps them abreast of trading trends and increases their chances of making profits and avoiding losses.

Cons

  • Limited Availability: FXPRIMUS broker's client support service is only available 24 hours a day, five days a week, limiting its customer support services to only weekdays.

  • Selective Compensation Claims: FXPRIMUS does not recognize any moral compensation claims. Hence, traders will not be compensated for any such claims.

  • System Malfunction: Although this rarely happens, there are, however, technical hitches that may necessitate a full platform restart.



Unique Selling Points

These include:

  1. FXPrimus referral program: Recommending new clients to FXPrimus entitles traders to specific remunerations hinged on the new clients' trading volume and/or deposits. The broker also assigns a personal manager to affiliate traders to help monitor and improve their effectiveness. 

  2. FXPrimus Bonuses and Promotions: FXPrimus provides two trading incentives designed to reward loyal clients and increase trading volume. The FXPRIMUS bonus is open to new and existing traders as a 30% trading incentive, which is $150 free trading funds. However, traders must make a minimum deposit of $500 or its equivalent in another currency to be eligible for this promotion.

  3. Efficient Charting and Analysis System: FX PRIMUS has built a technical analysis system that promotes efficient charting indicators and approaches. This affords users a strong sense of charting and analyzing. The broker also offers a micro terminal option, which allows traders to handle several transactions, establish a stop loss, and profit from their winning trades. 


Introduction

FXPrimus was launched in 2009, with its headquarters in Cyprus. FXPrimus is an international online financial trading platform and a multi-asset broker. It provides its vast clientele access to online forex trading, commodities, energy, and indices. 

The broker also provides outstanding services through intellectual, technical, and practical assistance throughout its clients' trading careers.

This FXPRIMUS review further explains all you need to know about this broker.


Supported Countries

FXPrimus is open to traders from and in all countries except Australia, Belgium, France, Iran, Japan, North Korea, and the United States. At the time of writing, South Africans are also excluded from FXPrimus


Customer Service Rating

This review on FXPrimus gathered that the broker has an excellent 4.4 rating based on 97 reviews on Trustpilot. This rating suggests that the broker's vast clientele is satisfied with the quality of its services.

Many of the broker's positive reviews suggest that its trading platform is easy to navigate, and the fees are reasonable and affordable. 

On the other hand, the few negative reviews suggest withdrawal difficulties due to the client's preferred withdrawal method and not necessarily the broker's trading platform. The broker's customer support service also responded quickly to negative reviews and proffered prompt solutions to clients' complaints.


FXPRIMUS Trading Platforms

FXPrimus provides its vast clientele with the fundamental MT4, MT5, and cTrader trading platforms. All three platforms fully enable algorithmic trading and copy trading features. Traders can use a desktop version, a lightweight web-based version, or a mobile app. 

Interestingly, traders do not need the FX Primus MT4 or MT5 plugins to update their old trading platforms. FXPrimus is one unique broker which offers its clientele a solid infrastructure that supports all trading techniques, even with proprietary tools.

The features of each platform are:

  • MT4: The MetaTrader 4 platform is ideal for traders, irrespective of their trading experience. It has a user-friendly interface, comprehensive charting features, technical analysis tools, and automated trading capabilities. This FXPrimus MT4 provides Forex, Futures, Indices, Equities, and other CFD products. Another interesting feature is the platform's accessibility in 30 different languages.

  • WebTrader: The MT4 platform is also available on  WebTrader. This enables investors to easily trade online from any browser and operating system. The trader needs a steady internet connection to use the MT4 WebTrader. This platform supports all trading orders, MT4 execution modes, one-click trading, and trading history. It provides traders with 30 technical indicators, 24 graphical elements for technical analysis, nine-time frames ranging from one minute to one month, and real-time quotations in Market Watch.

  • MT5: The MetaTrader 5 platform combines a highly customizable user interface with a dynamic trading environment. Traders can access learning tools for CFDs, stocks, and futures contracts. Compared to the MT4 platform, the MT5 platform has 12 extra time frame charts, a Multi-Threaded Strategy Tester for Expert Advisors (EAs), and eight additional technical indicators.

  • cTrader: This is the perfect trading platform for novice and experienced traders. It is apt for scaling through the financial market, with solid risk management, quick execution, and market analysis tools. This platform is especially suited for first-time traders because of its extensive transaction analysis and strong risk management measures.


FXPrimus Account Types

FXPrimus offers four live trading accounts: the PrimusCent Account, the PrimusClassic Account, the PrimusPro Account, and the PrimusZero. Our FXPrimus reviews reveal that the broker has complimentary trading accounts, such as the PrimusDemo and Islamic accounts. FXPrimus account packages are designed to accommodate traders of all levels of expertise.

  • PrimusCent Account: This account requires a minimum deposit of $15, with an average spread of 1.5 pips, 100% margin call, and 20% stop out. It has a leverage of up to 1:1000, negative balance protection, and a swap-free option. It's completely commission free and available only on the MT4 platform.

  • PrimusClassic Account: This account requires a minimum deposit of $100, with an average spread of 1.7 pips, 50% margin call, and 20% stop out. It has a leverage of up to 1:1000, negative balance protection, and a swap-free option. It's commission free and available only on the MT4, MT5, and cTrader platforms. It's the only FXPrimus account with the copy trading feature.

  • PrimusPro Accounts: This account requires a minimum deposit of $1000, with an average spread of 0.5 pips, 50% margin call, and 20% stop out. It has a leverage of up to 1:500, negative balance protection, and a swap-free option. Unlike PrimusCent and PrimusClassic, PrimusPro is not commission free. The account charges $10 and is only available on the MT4 and MT5 platforms. 

  • FXPrimus Islamic Account: FXPrimus provides Islamic swap-free trading on three tiers of its basic trading accounts. Hence, PrimusCent, PrimusClassic, and PrimusPro are all swap-free. FXPrimus automatically grants extended Swap-free status to all qualifying trading accounts opened by clients from non-Islamic countries.   

  • PrimusDemo Account: FXPRIMUS provides a free demo trading account for new traders to enjoy a risk-free environment. However, the FXPRIMUS account expires after 30 days. The FXPrimus platform also allows traders to extend the expiration of a demo account upon request.

The FXPrimus demo account is ideal for new traders to hone their trading skills and become successful and confident traders. Experienced traders can also utilize the retail demo investor accounts to gain mastery of the trading environment. 

On the demo account, traders can get an average spread of 1.5 pips and leverage up to 1:500. It is available on the MT4 platform with Live support.

On Webtrader, the FXPrimus demo account can be accessed from any device with only a stable internet connection. This allows new traders to understand the MT4 trading environment. 


Trading Denominations

The six trading denominations on the FXPrimus are USD, EUR, SGD, GBP, PLN, and HUF.


Company Structure

FXPRIMUS is a CySEC-regulated broker that provides one of the safest online trading platforms in the forex market. The broker maintains its confident place on major trading platforms by continuing to establish new data security standards across its trading platforms.

FXPrimus is based in Limassol, Cyprus, but provides its distinctive services to clients worldwide. This exchange platform lets clients access Forex, CFDs, trading data, and training tools


FXPRIMUS Licenses and Regulatory Compliance

FXPRIMUS is regulated and monitored by reputable financial regulatory agencies and the Markets in Financial Instruments Directive (MiFID). To guarantee its clientele the safety of its trading platform FXPrimus has earned the regulatory license of 3 regional regulators. They are:

  • Financial Service Conduct Authority: FXPrimus is regulated in South Africa by the FSCA with license number 46675.

  • Cyprus Securities and Exchange Commission: FXPrimus is regulated in its Cyrus by the CySEC with license number 261/14.

  • Vanuatu Financial Services Commission: FXPrimus is regulated in Vanuatu with license number 14595.


FXPRIMUS Customer Support

FXPrimus offers its clients 24/7 customer support services. The broker's customer support service is available via email, the broker's website, and chat apps such as WhatsApp, WeChat, Zalo, Line, and Telegram. 

Please note that the broker's website customer support is only available on working days. Another feature worth noting is its availability in 3 languages; English, Arabic, and Chinese.

Asides FXPrimus' website language features, other customer support platforms, live chat, email, and phone are available in English, Spanish, Indonesian, Chinese, Thai, Vietnamese, Hungarian, and Malaysian. This demonstrates FXPRIMUS's excellent customer support team and its desire to meet the needs of its clients by providing communication with traders in their native language.


FXPRIMUS Customer Protection

  • Regulation: Regulatory license is proof of credibility, and FXPrimus has won this status in several regions. The CySEC, FSCA, and Vanuatu Financial Services Commission license the broker.

  • Negative balance protection: FXPRIMUS offers Negative Balance Protection to all clients, ensuring that losses do not exceed the account manager's balance.

  • Top-Tier Liquidity: FXPrimus affords its clientele access to a substantial quantity of liquidity offered by top-tier international banks and brokers.

  • Third-party monitoring: FXPrimus sets new standards for its clients' investment safety by collaborating with Boudica Customer Trust to enable third-party monitoring of client withdrawals and detecting irregularities as quickly as possible.


Trading Information

With over 130 tradable assets, FXPrimus maintains a vast repertoire of assets offering its clientele the industry's finest coverage. Hence, the MY Primus market is ideal for traders who prefer a small number of liquid trading products. 

The FXPrimus broker has its unique trading hours (GMT +3) itemized in the table below:

Asset Class

From

To

US CFDs

Monday 16:30

Friday 23:00

Forex

Monday 00:05

Friday 23:55

Commodities

Monday 01:05

Friday 23:30

European CFDs

Not applicable

Not applicable

Cryptocurrencies

Not applicable

Not applicable


Tradable Instruments

On FXPrimus, tradable instruments include: 

  • 43 currency pairs, 

  • Four precious metals, including gold

  • Energies such as oil

  • Stocks

  • Market indexes


Leverage on FXPRIMUS

FXPrimus offers maximum leverage of 1:1000 in the Prime Cent, Classic, and Pro accounts and 1:500 in the Primus Zero account. 

According to CySEC regulations, Forex traders on this platform must have a maximum Forex leverage of 1:30.


Deposits and Withdrawals

FXPrimus covers all deposit and withdrawal fees; however, third-party fees may apply depending on the payment processor. While the minimum deposit for specific payment methods is as low as $15, the minimum withdrawal for all payment methods is $100. 


Deposits

Processing timeframes for e-wallets range from five minutes to five working days for wire and local transactions.

Bank wires are accessible in USD, EUR, SGD, GBP, PLN, HUF, ZAR, and BRL. MYR, IDR, VND, and THB. The USD, EUR, SGD, GBP, PLN, and HUF can be deposited via credit/debit cards and e-wallets. 


Withdrawals

Withdrawals are only available to verified trading accounts within a processing time frame of Monday through Friday between 07:00 and 21:00 (GMT+2). Withdrawals are processed within 2-5 days for bank transfers. The minimum withdrawal is $100. 

The currencies available for withdrawal on FXPrimus are the USD, EUR, SGD, GBP, PLN, and HUF. Local bank transfers in MYR, IDR, VND, and THB are processed within 24 hours. The minimum withdrawal in this regard is $50.

Visa/MasterCard withdrawals on FXPrimus are processed within 5 minutes. The minimum withdrawal in this regard is $100. The currency options include USD, EUR, SGD, GBP, PLN, and HUF.

For e-wallets, the minimum withdrawal is $100. UnionPay (CNY) and Bitpay (euro and USD) withdrawal applications are processed within 24 hours.

Withdrawals on Neteller, Skrill, giroPay, Itau, and ecoPayz take 5 minutes to process. Withdrawal currencies for Neteller include USD, EUR, GBP, PLN, and HUF, whereas Skrill accepts USD, EUR, SGD, GBP, PLN, and HUF. Please note that Clients can only withdraw euros via giroPay, Itau, and ecoPayz, as well as USD and IDR via Fasapay.


FXPRIMUS Trading Education and Training

FXPrimus is an execution-only broker that does not provide typical training materials. However, FXPrimus maintains its competitive edge with a well-designed trading platform designed for expert high-frequency traders with prior trading experience.

The FXPrimus broker still makes efforts to welcome first-time traders with short videos and texts. The broker provides eleven video lessons to help new traders through the account opening process, verification, and financing. The videos include an easy guide on installing the MT4 trading software and the sign-up process.

Primus tutorial texts are well-written as easy guides to learning the fundamentals of trading. Traders are encouraged to augment their trading knowledge with reliable online third-party materials.


FAQs

  • Is FXPRIMUS a Good Broker?

This extensive FXPRIMUS broker review took weeks to document and we infer from our research that the FXPRIMUS broker, despite subtle flaws, offers exceptional trading services. FXPrimus is a broker with a solid reputation for delivering Forex and Social Trading services for a long time. 

FXPrimus is also regulated by authorities capable of holding the broker liable for errors or, at the very least, acting as an arbitrator in the case of a more significant disagreement. This is one reason Traders refer to the platform as “myfxprimus.”

  • What Is the FXPRIMUS Minimum Deposit?

FXPrimus requires a minimum deposit of $100. This can take 5 minutes to 5 days to be processed, depending on the trader's preferred withdrawal method.

  • Is there a bonus with FXPRIMUS?

FXPRIMUS provides two trading incentives designed to reward loyal clients while raising the trading volume.


Conclusion

From our FXPrimus broker review, it's safe to conclude that the broker is in a class of its own. FXPrimus, as a multi-asset trading platform, offers its clientele over 130 tradable assets. FXPRIMUS is a safe and simple platform licensed by CySEC, FSCA, and Vanuatu Financial Services Commission.

FXPrimus also provides a comprehensive range of services with access to several markets. It offers its clientele access to over 120 trading pairs in many markets and a gold trading platform. 

The brokers’ online platform is user-friendly and trustworthy. It offers a $50,000 demo account manager to allow traders to gain hands-on experience. Deposits and withdrawals are quickly processed and safe. From its quality of service, it is evident that FXPrimus Team is committed to serving its clientele. Sign up on the FXPrimus and enjoy amazing discounts and trading bonuses.

Contacts of FXPRIMUS

Headquarters
Кипр , LimassolZavos Kolonakiou Centre
show on the map

Recent customer reviews of FXPRIMUS

David Merritt 12 June 2021

Advantages: Lots of

Disadvantages: Not

Comment: It's incredibly convenient for me that in addition to crypt, I can work with other tools from one account, some brokers allocate a separate account for this. As for me, the broker is reliable, because it is proven and I work just fine with him, the terms of our agreement suit both of us. I definitely recommend all newbies to take a closer look.

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Abhishek Shau 15 February 2021

Advantages: Superb Service

Disadvantages: No

Comment: One of the finest and legit broker

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Smart X 15 February 2021

Advantages: Easy process to understand

Disadvantages: no

Comment: safe broker

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RECOMMENDED FOREX BROKERS

Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.