Broker ReviewsTrending May 18, 2018 fdnik8 0
FXPrimus Review 2021
Our 2021 FXPrimus review will investigate several key areas that we consider important to the aspiring trader looking for best forex brokers with whom to apply their trade.
What is FXPrimus?
Owned by the FXPrimus group, FXPrimus is managed by two separate subsidiary companies, Primus Global Ltd (previously FX Primus Europe (Cy) Ltd) and Primus Markets INTL Limited. Founded in 1999, with the intention on providing high frequency trade processing to their clients, FXPrimus has made a significant impact on the forex trading market and currently serves customers in over 200 different countries around the world.
Our FXPrimus review has unfortunately identified that, at the present time, this company does not offer trading services to anyone residing in the USA as well as Australia, Belguim, France and Japan. This is due to a regulatory conflict whereby the controlling regulators in these locations possess guidelines and rules that FXPrimus cannot overcome.
There are two separate jurisdictions under which FXPrimus is regulated:
Primus Global Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 261/14 in relation to the regulation of all activities this company undertakes with members based in the EU.
Primus Markets INTL Limited is regulated by the Vanuatu Financial Services Commission under registration number 14595 in relation to all activities undertaken with their international trader base.
Reliability and Security
When it comes to reliability and safety, FXPrimus delivers their clientele exceptional safety of mind. FXPrimus segregates all client funds in offshore accounts overseen by the tier 1 Barclays Bank. In doing so, client trading account deposits are separated from company operating funds and kept safe from loss.
In terms of security of data, all user information is protected thanks to Secure Socket Layer (SSL) technology that guarantees that customer data and information is encrypted and kept extremely safe from breach.
FXPrimus Trading Platform
Where the FXPrimus Trading Platform is concerned, they provide their clients with access to the ultra-popular MetaTrader 4 platform by MetaQuotes Software Ltd. MetaTrader 4 is considered one of the most powerful and impressive platforms for forex trading and there are many reasons for this, including:
- Suitable for beginner and advanced traders– MetaTrader 4 possesses an easy to use interface that is simple to understand for those just starting out in forex yet also capable of conducting in-depth analysis for the more experienced traders.
- Multiple Language Support – MetaTrader 4 offers language options from a wide-range of countries across the world that enables non-English speaking traders to customize the platform to suit their language speaking needs.
- Advanced Chart Package – MetaTrader 4 features comprehensive charting that affords traders the ability to delve deeper into the forex marketplace. Although extremely detailed, the charts are easy to read and highly customizable, giving the trader many options that suit their personal trading preferences.
- Technical Indicators – MetaTrader 4 provides traders with many technical indicators that can assist in making smarter trading decisions.
Mobile Trading Capability
MetaTrader 4, the FXPrimus Trading Platform of choice, is available for download in app form from the Google Play Store and the Apple Store. The mobile app looks identical to the desktop version, allowing traders to continue trading while away from their desk or home.
Types of Trading
FXPrimus offers their clients many trading instruments from which to choose from. Their clients can trade over 43 forex trading currency pairs, precious metals, energies, equities, indices, futures and cryptocurrencies.
In relation to cryptocurrency trading, its popularity has lead FXPrimus to offer clients the opportunity to trade a range of cryptocurrencies against the US dollar using their MetaTrader 4 trading platform. The cryptocurrencies that FXPrimus offer for trade are:
- Bitcoin Cash
Check out our list of the best cryptocurrency exchanges here!
Our FXPrimus review reveals that this company provides their clientele with three main types of trading account:
FXPrimus Demo Account: A free account that offers beginner traders the ability to hone their skills on the MetaTrader 4 trading platform, get familiar with trading strategies and understand how things work without downloading the FXPrimus trading platform or using actual money. Additionally, the FXPrimus demo account option can enable more experienced traders to try the platform if they are crossing over from another brokerage that does not provide access to MetaTrader 4.
FXPrimus Variable Account: For those looking to start trading real money, the variable account option allows the trading of forex, commodities, energies and indices and gives access to many free educational resources. This helps the trader make smarter decisions and assists in learning. Variable account holders also benefit from trades that do not charge commissions.
ECN Premium Account: For the client looking to invest more than 500 USD, the premium account is the way to go. This account provides traders with unlimited access to all FXPrimus offerings and gives traders the lowest raw spreads, starting at 0.1 pips.
Spreads and Commissions
FXPrimus offers their client base both raw low spreads and variable spreads. Raw spreads, as mentioned above are only available to those clients who have an ECN Premium Account. For traders with a standard account, the spreads featured are variable yet competitive. For a better understanding, some of the most popular currencies and their spreads, as you’ll see on a standard account, are listed as follows.
- EUR/USD 1.5 pips
- EUR/GBP 2.4 pips
- AUD/USD 2.0 pips
- USD/JPY 2.0 pips
- USD/CAD 2.7 pips
- GBP/JPY 2.0 pips
Our FXprimus deposit review uncovered that the services they provide make transactions easy and effective for the clientele. To deposit money with FXPrimus there are three main ways to do so:
– Via the use of debit cards and credit cards (incl. Visa and Mastercard)
– Through bank and wire transfer or local deposits
– Using eWallets (incl. Neteller, Bitpay, Skrill and Union Pay)
Our FX primus withdraw review found the process of withdrawal of funds usually is completed in between 24 hours and 5 business days. There is a minimum withdrawal amount of $100 and the withdrawals are available via the same methods as mentioned above in the deposit section. To ensure a smooth withdrawal experience ensure that you keep your account details up to date.
Promotions and bonuses
FXPrimus is determined to reward loyalty and subsequently renowned for the huge number of generous bonuses and promotional offers that they provide their paying clientele. The list of promotional offers and bonuses are listed below.
- 100% Deposit Bonus (100% Bonus and $4 Cash Back)
- Join the Oil Rally and Go for Gold (Lower Spreads)
- 30% Trading Bonus
- Monthly Earn 50% more Offer
Our FXPrimus review found that FX Primus provides their clientele with tremendous customer support. Users seeking assistance can contact the company via live chat, direct phone and email at any time during market hours within their trading jurisdiction. Most direct contact is responded to within a few minutes. The support team members are bilingual or can refer the caller to somebody speaking their native tongue.
– Competitive spreads
– FX Primus demo account offered with access to MetaTrader 4
– Offers tremendous customer support and beginner assistance
– FXPrimus trading platform of choice is MetaTrader 4.
– Extremely well regulated and highly secure
– Many promotions and bonuses offered
– Only one choice of trading platform for the trader who may be seeking multiple platforms
– Lack of Social Trading Platforms and Social Trading options
– No FXPrimus USA availability
Our FXPrimus broker review found that it is little wonder that this company is considered one of the finest brokerage firms in the industry. By offering a smooth, reliable, highly secure experience to their users, they have gained tremendous respect and credibility within the forex industry. Their website is easy to navigate and extremely detailed which helps build trust with their clientele. It is little wonder that FXPrimus has been a hit with traders for close to 20 years and it is no surprise they are considered one of the safest and greatest in the industry.
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