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FXPRIMUS is a broker for retail Forex, providing a wide variety of currencies as well as precious metals and CFDs for energy products, indices, as well as five cryptocurrencies (Bitcoin, Ethereum, Ripple, Litecoin and Dash).
FXPRIMUS is the name used for trading of Primus Global Ltd (previously named FX Primus Europe (CY) Ltd.) It is which is a Cypriot Investment Firm (CIF) which is registered in the European Union and licensed by Cyprus Securities and Exchange Commission (CySEC).
Presently, Cyprus is one of the top locations for forex brokers among the main reasons for this is the an appropriate regulation. A strict regulation, that has high capital requirements for entry and a low leverage limit has diminished competitors in United States and Japan and Japan, while the loose regulation can affect the credibility and safety of brokers.
CySEC has specific regulations and rules for Cyprus Investment Firms, which aren’t as strict as those of the US such as, for example but they do provide some degree of trust. Cypriot Investment Firms are required to have at minimum EUR730 000 to establish their financial standing. Additionally, they must to keep the funds of customers in separate accounts, and separate from the company’s operational funds.
To further protect the funds of clients All CySEC-regulated businesses are part of the Investor Compensation Fund, which can pay up to 200.000 EUR in the event that the business is in debt. In November 2016 , the broker expanded the insurance for client funds protection by an additional EUR2.5 million. This offer is available to any live trading account holder and is covered by Lloyd’s.
In addition, each CySEClicensed investment firm is MiFID certified and thus able to provide cross-border services in of the EU as part of the MiFID Passporting Regime. Furthermore the broker is registered with several EU regulators, which include UK’ FCA, Germany’s BaFin and many others. It is believed that Primus is a part of the Primus group is also operating an UK brandname, Primus Capital Markets UK (PCM UK).
In addition, FXPRIMUS used to hold licenses in Mauritius and in the middle of March, the local financial regulator was that is the Financial Services Commission (FSC) has revoked the license.
Trading Conditions
Minimum Initial Deposit
To create an account with FXPRIMUS the trader must put down a minimum amount of $1000. The minimum amount required for initial investment is quite high, in fact. Many Cyprus-based brokers demand lesser. For example, FXTM demands only $5 from its customers to begin.
Spreads & Commissions
As a genuine STP broker FXPRIMUS provides floating spreads that vary by account type. Whatever type of account you choose the costs for trading will be the same, since a commission-free Variable Spread accounts offer an average spread between 1.0 and 1.5 per EUR/USD currency pair, while the ECN Premier one has an average spread of 0.4 percent on EUR/USD, plus $10 commission (which amounts to around 1.01 pip). Variable spreads ranging from 1.0 to 1.5 pip are considered to be average for the market of FX.
As a basis for comparison, the average spreads for Exness account that are commission-free amount to 0.9 pip on USD/EUR While ECN account holders can enjoy the average spread of 0.4 pip on EUR/USD, with 5 cents per standard.
We’d also like to point out that FXPRIMUS provides discounts for large-volume traders. When you have traded an equivalent amount of more than 250 Standard Lots during one calendar month, you’ll be eligible for a lower commission amount at $8/standard lot for each round trip (or equivalent).
Leverage
The maximum leverage that is offered by FXPRIMUS is quite impressive at 1:500. However, many Cyprus-based brokers provide even greater leverage rates. For example, XM provides leverage of up to 1:888. Exness is currently running an Unlimited Leverage Promotion. Take a look at the list of brokers offering leverage that is equal to or greater than 1:500..
While it’s tempting to increase leverage and to be able to work using larger sums however, we recommend traders be aware, since such high leverage levels carry a higher chance of losing a lot.
Trading Platforms
This broker is compatible with the forex market trading platforms MetaTrader4 (MT4) along with WebTrader operated by Sirix.
MT4 is a renowned international trading terminalthat offers an array of tools and resources for trading including over 50 technical indicators built into the program as well as a modern charting program, an extensive variety of Expert Advisors (EAs) as well as an extensive set of back-testing tools for the. The traders can download ready-made EAs or develop your own EAs as well as let the software take care of the rest with no human emotion required.
MetaTrader 4 is accessible to customers of FXPRIMUS in both mobile and desktop versions. Additional brokers who use MT4 can be seen here.
This FXPRIMUS WebTrader, on the other hand, allows you to connect to your MT4 account over the Internet without installing an application for the MT4 platform. Any browser that can support Flash can run WebTrader using any Windows, Mac or Linux computer. WebTrader is currently unavailable to customers with Managed accounts, or to Money Managers who utilize the MAM software.
Like many brokerages, FXPRIMUS also provides VPS (Virtual Private Server) for $30 per month. It lets you access you MetaTrader4 (MT4) Platform via remote computers that are situated close to the MT4 servers.
Promotions
At the time when I wrote this review, FXPRIMUS runs the following promotions:
Double dynamo bonus and cashback are offered to both new and existing customers with a the minimum deposit of 500 USD and maximum leverage of 300:1. provided 100% on deposits that is up to $10,000.00 or $2/$4 (for ECN Premier account holders with variable spreads holders, respectively) cashback on each normal lot that is traded
As the official sponsor online to one of England’s top and most profitable premier league football teams, Manchester City Football Club The broker allows successful traders the chance to get to meet their favourite Manchester City player as a reward.
Additionally, FXPRIMUS has partnered with the company that offers rebates, PayBackFX. Account holders with variable spreads can to receive 0.6 pip for each parcel (round trip) as well as ECN accounts with a Premier status could be able to get 30% on commission.
Methods of Payment
FXPRIMUS allows a broad range of payment options including credit and debit cards as well as bank wire transfer, E-wallet payment options Skrill, Neteller, FasaPay and Payoneer’s Prepaid MasterCard eZeebill as well as Bitcoin, YuuPay, ClickandBuy and China UnionPay.
USD EUR, GBP, SGD, PLN, AUD and HUF-based accounts are available through this broker.
Conclusion
FXPRIMUS is an EU STP broker that offers online trading for foreign currency pairs, CFDs , and precious metals at competitive rates.
| FXPRIMUS Summary | |
|---|---|
| FXPRIMUS Details | Information |
| Regulators | CySEC, VFSC |
| Country |  Cyprus |
| Base Currencies | EUR, USD, GBP |
| Type Of Brokers | ECN, STP |
| Trading Platform | Desktop, Mobile, MT4 |
| Established Year | 2015 |
| Website Language | English, Chinese |
| US Clients | |
| FXPRIMUS Spreads | |
|---|---|
| Option | Information |
| Minimum Spreads | 0.1 |
| Commission | |
| Fixed Spreads | |
| FXPRIMUS Payment & Withdrawal Option | |
|---|---|
| Option | Information |
| Acc Funding Methods |  Skrill,  Wire transfer,  Visa Card,  Master Card |
| Acc Withdrawal Methods | Skrill, Wire transfer, Visa Card, Master Card |
| FXPRIMUS Suitable For | |
|---|---|
| Option | Information |
| Publicly Traded | |
| Beginners | |
| Day Trading | |
| Weekly Trading | |
| Professionals | |
| Swing Trading | |
| FXPRIMUS Trading Account Options | |
|---|---|
| Option | Information |
| Maximum Leverage | 1:30 |
| Mini Account | |
| VIP Accounts | |
| Segregated Accounts | |
| Free Demo Accounts | |
| Managed Accounts | |
| Pro Account | |
| Minimum Deposit | 100 USD |
| Islamic Account | |
| FXPRIMUS Trading Services | |
|---|---|
| Option | Information |
| Hedging | |
| News Trading | |
| Scalping | |
| Automated Trading | |
| Indices | |
| Commodities | |
| Forex instruments | |
| CFDs | |
| ETFs | |
| Stocks | |
| Bonds | |
| Cryptocurrencey | |
| Trading Signals | |
| Educational Service | |
| Copy Tradings | |
| FXPRIMUS Contact & Support | |
|---|---|
| Option | Information |
| Telephone No | +27105004213 |
| support@fxprimus.com | |
| 24 Hours Support | |
| Support During Weekends | |
| Address | N/A |
