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FxPrimus

FXPrimus was established in 2009. I can say that they have improved themselves since the day it was founded. I can say a good number for a forex company. In addition, the website has a professional look and design.

So I must say that in the first step, the broker made a positive impression on the visitors. What are the facts? Is the quality of the services offered by the company really good?

6.0
EXPERT SCORE
Average
I reviewed FXPrimus based on the following criteria.
COMMISSIONS AND FEES
60%
TRUST
80%
TRADABLE INSTRUMENTSS
70%
PLATFORMS & TOOLS
60%
CUSTOMER SERVICE
30%
PROS
CONS

In this FXPrimus review, you will find answers to many questions about the broker you have in mind. What are the account types offered by the broker and their trading conditions like spread or minimum deposit limit? What are the funding and withdrawal methods it offers? Are there any withdrawal problems?

Do not open an account at FxPrimus before learning the answers to all these questions.

If you’re ready, let’s start.

Regulation

The first and foremost aspect about any forex broker to be considered, and to me, it represents the breaking point between trust and leaving any forex broker, is Regulation and licenses. And so I decided to start my FXPrimus review by mentioning the types of regulations that FXPrimus is having and what makes the question of the FXPrimus scam out of the picture.

Regulations are not handed out easily to forex brokers, yet not all regulators hold the same reputation or the same trick rules as the others. And so, it makes sense how some regulators are hard to give their licenses until the conditions are met by the brokers.

Some of these reputable regulators are:

  • CySec in Cyprus
  • FCA in the UK
  • ASIC in Australia

This takes me to my next point, that FXPrimus is holding a license from one of those biggest regulators in the market which is CySec. This not only proves that FXPrimus is trusted and overlooked by one of the biggest regulators but also that trading with FXPrimus would be a smooth experience. The license that the broker is holding are as follows:

  • Primus Global Ltd, regulated by CySEC, with license no. 261/14 and registration number HE 337614
  • Primus Markets INTL Ltd, regulated by VFSC, with registration no. 14595

FXPrimus are asked to fulfil strict requirements for a CySEC license. There is also €20.000 granted as a compensation fund set by CySec in case the broker goes bankrupt which is a feature not offered by most financial regulators.

Account Types Offered by FXPrimus

In this section of through FXPrimus review, I’ll break down all the offered FXPrimus account types by FXPrimus as well as the trading conditions in each account including spreads, FXPrimus minimum deposit, leverage and more. so tag along for all the information you’ll need to know regarding the issue.

There are 2 live account offers within FXPrimus, besides a demo account with trading conditions of its own to make it easier for traders using the demo account to try out FXPrimus without worrying about the features of the account nor the offered trading conditions, which, in my opinion, is a good move from FXPrimus to assure their clients of what needs to be done.

Primus Classic account

The base currency allowed on this account type is USD, EUR, GBP, SGD and PLN, in which you can have spreads in the range of 1.5 pips. No commissions are applied to the Classic account’s transactions and the maximum offered leverage is 1:30. The Fxprimus minimum deposit offered here is $15 and you can have up to 300 as the maximum open positions you can carry on the classic account. Negative balance protection is allowed as well as the option to have third-party monitoring for withdrawals. Educational materials, live webinars and video tutorials are provided as well as the MT4 trading platform.

Primus PRO account

FXPrimus is offering one of its most popular account types which is the Pro account. While the base currency is the same as the ones offered in the classic account, which are USD, EUR, GBP, SGD and PLN, The offered spreads here are ranging from 0.3 pips. A commission is applied $10 on transactions made via the mT4 trading platform, yet the maximum offered leverage remains the same at 1:30. The Fxprimus minimum deposit allowed on the pro account is a bit higher to reach $500. You can also get live support, as well as social media platforms, support like Messenger, Whatsapp, WeChat, Zalo, Line, and Telegram. Negative balance protection and educational materials are also offered here.

Primus DEMO account

The main target of the demo account offered by any forex broker is to allow the traders to have as many trials as they want in a risk-free environment before they jump into the real markets. The base currencies offered for the demo account here are USD, EUR, and GBP. An average spread of 1.5 pips is permitted as well the absence of commissions can also be noticed. The maximum leverage offered is 1:30 and the Fxprimus minimum deposit is $0. Educational materials as well as live webinars and video tutorials are present, yet the absence of negative balance protection and withdrawal monitoring was witnessed on the demo account.

Payment Methods

I’ve dedicated this area to this FXPrimus review to discuss the funding and withdrawal means that can be used t deposit and withdraw money to and from your live account with FXPrimus.

FXPrimus offers an acceptable variety of deposit and withdrawal methods. As with almost all other brokers, you can use wire transfers and major credit cards. The fastest way to deposit and withdraw is usually to use a credit card. See the table below for more information about the deposit and withdrawal methods.

Method Transfer Currencies Minimum Deposit Minimum WithdrawalProcessing time
💰 Bank Wire Transfer USD, EUR, SGD, GBP, PLN, HUF, ZAR, BRLas per the chosen live account type $1002-5 working days
💰 Credit and Debit cards ( Visa and Master Card)MYR, IDR, VND, THBas per the chosen live account type $1001-5 working days
💰 E-wallets ( Neteller- Skrill- TrustPay- SafeCharge- emerchantpay)USD, EUR, SGD, GBP, PLN, HUFas per the chosen live account type $100Up to 5 minutes

Trading Instruments

Here in the trading instruments section of this FXPrimus review, is where I’ll break down the possible options you can have for trading tools to be added to your portfolio for diversity and maybe hedging too.

Forex: with the ability to trade various currency pairs including majors, minors and exotics, the maximum leverage offered on forex pairs is 1:30.

Metals: Traditionally regarded as ‘Safe Haven’ instruments, where traders can turn to popular precious metals ( including gold, silver, platinum and more) during times of extreme market volatility.

Indices: DE30, DXA, AUS200, UK100, JP225 and more are available for trade with 1000 units as the contract size and 1:30 margin offered.

Trading Platform

How to accomplish and complete your trades, when and where, are the main issues to be discussed through this part of the FXPrimus review, so tag along for all the details.

There are 2 trading platforms offered which are the MT4 and the web trader.

MT4: it’s the most popular trading platform in the entire forex market since it consists of a user-friendly interface and multiple inputs to be customized however matching your trading technique. Advanced charting features, technical analysis tools, and automated trading capabilities are also some of the features that make MT4 so popular among forex traders. MT4 is also available in over 30 languages as it also supports instruments in Forex, Futures, Indices, Equities and other CFDs.

Webtrader: MT4 WebTrader allows you to trade online with ease, from your favourite browser. You may use any browser and operating system. All you need to have is an internet connection. The following are some features that make the web trader easy to use for forex traders:

  • All types of trading orders and MetaTrader 4 execution modes
  • 30 indicators and 24 graphical objects for technical analysis
  • 9 time-frames, from one minute to one month
  • Real-time quotes in Market Watch
  • History of trading operations
  • One Click Trading

Conclusion

I broke down for you many details about different aspects of trading conditions throughout this FXPrimus review which it was made clear that FXPrimus is one of the trustworthy brokers that its safe to say trading with them won’t make you worry about any type of fraud due to the strong regulations monitoring their activities and actions.

FXPrimus scam isn’t an issue to worry about since FXPrimus is regulated by reputable regulations including CySec and VFSC.

There is also the matter of the FXPrimus account types that were broken done to view all the details of the classic and the pro accounts in addition to the demo account, where the Fxprimus minimum deposit for the live accounts is $15.

The trading platforms offered by FXPRIMUS are MT4 and the web trader, which is a great choice to be presented yet they do seem to be quite enough for the modern trader that requires multiple options and especially with the release of the next-gen platforms like MT5 which is representing the successor of MT4 in the forex markets.

Through this Fxprimus broker review, I’ve also broken down the presented trading instruments which, in my opinion, are not quite enough considering that other forex counterparts in the market offer more options for the trading instruments to be added to clients’ portfolios as they represent the perfect chance for hedging.

Funding methods were sufficient but not much, again compared to other brokers in the market with various or even endless options for deposits and withdrawals from the real accounts. As an overall opinion, I think that it’s not a bad idea to trade with FXPRIMUS, yet if you were one of the traders who wish to have more options with the trading instruments and the funding options as well as trading platforms, I’d advise on choosing one of the brokers in my list of best forex brokers to trade with.

Fxprimus review
Rating: 6.0