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FXPrimus Review 2024: Is It a Trustworthy Broker?

(4 customer reviews)
5/10 (Expert Score)
Product is rated as #32
Trust
5
Fees
5
Platforms and Tools
6.5
Customer Support
4.5
Tradeable Instruments
5
Account Types and Terms
6.5
Deposit and Withdrawals
5
Research and Education
2.5
FXPrimus
5
Expert Score
#32 rated Forex Brokers
VISIT BROKER
VS
ZFX
7.6
Expert Score
#3 rated Forex Brokers
VISIT BROKER

FXPrimus Overviews


FXPrimus is a global online forex and CFD broker that offers a variety of trading products and services to clients around the world. We will be reviewing this broker to give you a better understanding of what they offer and whether they are a good broker and right fit for your trading needs.

FXPrimus Review 2024: Is It a Trustworthy Broker?

FXPrimus is a reputable online forex and CFD broker with its headquarters located in Cyprus, Europe. FXPrimus has made it its mission to provide its clients with a safe and secure trading environment. The broker provides a wide range of trading instruments such as forex, indices, commodities, and shares for traders of all levels.

Another feature that might be of interest to forex traders is that this broker runs in line with being both market maker and an ECN broker. So, while contributing to market depth and in turn liquidity and volume, this broker does profit off the bid-ask price, payable alongside other trading fees.

FXPrimus Trading Process Terms

FXPrimus Trading Process Terms

Since its inception in 2009, FXPrimus has been committed to protecting its client’s interests and has earned the reputation of being a trusted broker. They have a strong regulatory framework, holding licenses from renowned regulatory bodies like the Cyprus Securities and Exchange Commission (CySEC) and Mauritius’s Financial Services Commission (FSC).

FXPrimus Efforts Towards Providing a Secure Trading Environment

FXPrimus Efforts Towards Providing a Secure Trading Environment

Security that FXPrimus offers retail investor accounts

Security that FXPrimus offers retail investor accounts

FXPrimus offers four account variations, PrimusClassic, PrimusPro, PrimusZero, and PrimusDemo, that are tailored to suit traders of different experience levels and investment portfolios. Clients can choose to trade with popular trading platforms such as MetaTrader 4, MetaTrader 5, cTrader, and WebTrader, providing a variety of trading options.

With its impressive offering of negative balance protection, competitive spreads, and high leverage ratios, FXPrimus is a popular choice among forex traders. Although the broker does not provide much in terms of educational resources, clients can access video tutorials, live webinars, trading tools and priority support once they have opened an account. Let’s see why you would want to choose them as your broker over others.

Broker Feature Overview
Type of Broker ECN, STP Forex broker
Regulation & Licensing
  • Vanuatu Financial Services Commission (VFSC)
  • Cyprus Securities and Exchange Commission (CySEC)
Applicable Countries NOT Allowed To Trade Australia, Belgium, Iran, Japan, North Korea, and the United States
Assets Offered
  • Cryptocurrency
  • Equities (stocks)
  • Forex
  • Metals
  • Energies
  • Indices
Platforms Available MT4, MT5, WebTrader, cTrader
Mobile Compatibility Yes
Payment & Withdrawal Options
  • Bank Wire
  • Local Transfer
  • Credit Cards
  • E-Wallets

Facts About FXPrimus
  • FXPrimus was founded in 2009 and is headquartered in Cyprus
  • The broker offers to trade in forex, indices, commodities, energies, and cryptocurrencies
  • FXPrimus is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles
  • Negative balance protection is offered on all account types except for the demo account
  • The broker offers four account types: PrimusClassic, PrimusPro, PrimusZero, and PrimusDemo
  • The minimum deposit for most accounts is 100 USD, with the exception of PrimusPro, which requires a minimum deposit of 500 USD
  • FXPrimus supports MetaTrader 4, MetaTrader 5, cTrader, and WebTrader trading platforms
  • Educational materials are limited to a blog accessible only to account holders
  • Customer support is available 24/5 via live chat, email, and various messaging apps
  • FXPrimus is not available for residents of certain countries, including Australia, Belgium, Iran, Japan, North Korea, and the USA

Pros and Cons


PROS
  • Wide range of trading platforms: MT4, MT5, cTrader, and WebTrader
  • Variety of tradable asset classes
  • Different account types cater to various trading needs
  • Offers negative balance protection on all accounts (except demo)
  • Access to additional customer support channels for clients (Messenger, Whatsapp, WeChat, Zalo, Line, and Telegram)
  • 24/5 live chat support
  • Multiple deposit and withdrawal methods are available
CONS
  • Limited educational material, mostly accessible through a blog
  • No special promotions or incentives for clients
  • Deposit and withdrawal options less diverse compared to other brokers
  • Support via Messenger, Whatsapp, WeChat, Zalo, Line, and Telegram is not available to potential clients
  • Restrictions in certain countries, such as Australia, Belgium, Iran, Japan, North Korea, and the USA
  • Identical pages found when visiting different sections of the website
  • Trading resources not readily available for potential clients

Is FXPrimus Safe? Broker Regulations


FXPrimus is regulated by multiple financial authorities, ensuring that they adhere to strict guidelines and maintain high security for their clients. The Cyprus Securities and Exchange Commission (CySEC) oversees the broker under license number 261/14.

Additionally, FXPrimus is regulated by the Vanuatu Financial Services Commission (VFSC) with registration number 14595. These regulatory bodies ensure that the broker complies with the highest standards of transparency, security, and fair trading practices. You can find this information by heading to the “safety” of funds section on the website.

FXPrimus caters to clients from various regions as a broker with multiple entities. Each entity operates under regulations set forth by the respective financial authorities in the regions they serve. This demonstrates the broker’s commitment to maintaining a global presence while adhering to strict regulatory standards to protect its clients’ interests. Visiting the broker’s website and scrolling to the footer section will provide information regarding some regulation and their entities.

Regarded as one of the most reliable forex brokers, FXPrimus is recognized for its commitment to providing exceptional trading services and products in the forex trading industry, as evidenced by the awards they have received. Among their notable accolades, FXPrimus was honored with the ‘Most Trusted Broker’ award at the 2015 MENA Forex Show, highlighting the company’s dedication to establishing and maintaining trust with its clients.

This broker has also won three International Investor Magazine awards. Awards coveted by many forex brokers, they are created by the investment specialized magazine of the same name, noted for their unique insights on the financial markets, industry analysis, trading strategy and more.

 

Moreover, FXPrimus was awarded the ‘Best STP Broker’ at the 2016 AI Global Media Awards, showcasing the firm’s excellence in executing Straight Through Processing (STP) transactions. These awards and others underscore FXPrimus’s reputation as a reliable and good broker committed to delivering quality services and maintaining the highest industry standards.

Regarding client reviews, Trustpilot is a reliable platform for assessing a broker’s reputation based on genuine user experiences. At the time of writing, FXPrimus holds an impressive Trustpilot score of 4 out of 5 stars. This rating reflects a high level of client satisfaction and trust in the company’s services; however, the total number of reviews is quite low, so this should be considered.

  • Vanuatu Financial Services Commission (VFSC)
  • Cyprus Securities and Exchange Commission (CySEC)

What Can I Trade with FXPrimus?


At FXPrimus, investors have access to diverse asset classes, allowing them to create a well-rounded investment portfolio. Although the homepage provides an overview of the available assets, a more detailed description can be found in the markets section of the website. The following asset classes are available for trading with FXPrimus:

Forex

Like many forex brokers, this broker provides FXPrimus clients the opportunity to trade numerous currency pairs, including majors, minors, and exotics. Forex trading typically involves leverage, allowing traders to control larger positions with less capital. Leverage levels may vary depending on the account type and region, with maximum leverage reaching up to 1:1000. Contract sizes in forex trading are usually measured in lots, with one standard lot equal to 100,000 units of the base currency.

Metals

Trading precious metals, such as gold and silver, is a popular method for portfolio diversification. At FXPrimus, metals are traded as contracts for difference (CFDs) against the US dollar. The contract size, margin, and leverage for metals may vary, with maximum leverage typically up to 1:200.

Energies

FXPrimus offers CFD trading on popular energy commodities, including crude oil and natural gas. These instruments allow investors to speculate on price movements in the global energy markets. Contract sizes, margin, and leverage for energy products may differ, with leverage levels generally up to 1:200.

Cryptocurrencies

With the growing popularity of digital assets, FXPrimus enables clients to trade various cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. Cryptocurrency trading is conducted as CFDs, allowing traders to speculate on price movements without owning the underlying asset. The leverage, contract size, and margin for cryptocurrencies may vary, with maximum leverage often limited to 1:5 due to their volatile nature.

Indices

Trading indices at FXPrimus allows investors to gain exposure to the performance of major stock markets worldwide. Indices are traded as CFDs, with popular examples including the S&P 500, NASDAQ, and FTSE 100. Contract sizes, margin requirements, and leverage levels for indices trading may differ depending on the specific instrument, with leverage levels typically up to 1:200.

Equities

If you do not know, trading equities allows investors to speculate on the price movements of individual stocks without owning the underlying shares. FXPrimus offers CFD trading on individual stocks from well-known companies across various industries. The contract size, margin requirements, and leverage for equities may vary, with maximum leverage generally up to 1:20. Reviewing the website, not much information is given on what stocks are available to trade, but traditionally, most of the popular stocks on various exchanges are applicable.

It is crucial to note that specific leverage, contract sizes, and margin requirements may vary depending on the account type, region, and regulatory environment. It’s essential to review the detailed information provided by FXPrimus on their website to ensure a thorough understanding of the trading conditions associated with each.

  • Cryptocurrency
  • Equities (stocks)
  • Forex
  • Metals
  • Energies
  • Indices

How to Trade with FXPrimus?


Trading Platforms

FXPrimus clients have access to several trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and WebTrader. These platforms cater to a wide range of FXPrimus traders, from beginners to experienced professionals, offering various features and functionalities to suit their needs.

To learn more about each FXPrimus platform, potential FXPrimus traders can visit the dedicated sections on the FXPrimus website, where a comparison table is available for easy reference of the trading platforms FXPrimus offers. Additionally, since we have covered MetaTrader extensively on PipPenguin, the information provided here for MT4 and MT5 will be a brief overview.

MetaTrader 4 (MT4) is one of the most popular trading platforms in the forex industry, known for its user-friendly interface and a vast array of features. MT4 provides advanced charting tools and customizable indicators and supports the use of Expert Advisors (EAs) for automated trading systems. It is available on desktop, mobile, and as a web-based application, allowing traders to access the markets from virtually anywhere.

Then MetaTrader 5 (MT5), the successor to MT4, builds upon its predecessor’s strengths by offering additional features and enhancements, such as an extended range of technical indicators, more timeframes, and improved order management capabilities. Like MT4, MT5 is available on desktop, mobile, and as a web-based application, providing traders with flexible access to the markets.

cTrader is another popular trading platform known for its advanced charting capabilities, lightning-fast execution speeds, and comprehensive market depth analysis. cTrader is designed to cater to more experienced traders, offering sophisticated tools and features for efficient and streamlined trading. This platform is available on desktop, mobile, and as a web-based application, ensuring accessibility across various devices.

FXPrimus Trading Platform

In terms of an FXPrimus trading platform, WebTrader is FXPrimus’s proprietary web-based trading platform, designed for traders who prefer a simple and user-friendly interface without downloading and installing additional software. WebTrader offers essential trading features, such as real-time quotes, charting tools, and order management capabilities, accessible directly from a web browser.

In conclusion, FXPrimus provides a diverse selection of trading platforms to accommodate the needs and preferences of various traders. By visiting the dedicated sections on the FXPrimus website, clients can compare the features and capabilities of each FXPrimus platform, ensuring they make an informed decision on the most suitable trading environment for their specific needs.

Features MetaTrader 5 MetaTrader 4 cTrader WebTrader
One-Click or One-Tap Trading Yes Yes Yes Yes
Trade Straight off Charts Yes Yes Yes Yes
Email Alerts or Push Notifications Yes Yes Yes No
Mobile Alerts Yes Yes Yes No
Stop Order Yes Yes Yes Yes
Market Order Yes Yes Yes Yes
Trailing Stop Order Yes Yes Yes Yes
OCO Orders (One-Cancels-The-Other) Yes Yes Yes No
Limit Order Yes Yes Yes Yes
24hr trading Yes Yes Yes Yes
Charting Package Yes Yes Yes Yes
Streaming News Feed Yes Yes Yes Yes

  • MetaTrader 5
  • MetaTrader 4
  • cTrader
  • WebTrader

How Can I Open FXPrimus Account? A Simple Tutorial


The FXPrimus account opening process is simple. To begin with, you will first need to head to their website to open an account with this broker and then click on the “trade now” button located on the right side of the header.

This will take you to the registration page, where you will need to fill in personal details that include your name, last name, Email address, Username, Country, phone number, and password. Here you will also need to read, adhere to, and agree to the terms and conditions of the client agreement.

Unfortunately, this is as far as we can go with registration because this broker has not offered services in our region (South Africa) since 2021. However, the registration process for most online brokers is pretty much the same.

Once you have completed this form, you will either be logged into the client area, where you will need to identify your identity before depositing and withdrawing, or you will be prompted with a few more questions. After that, you will be directed to your client’s area, where you will probably need to verify your identity again.

  • Head to the FXPrimus website
  • Click on the "trade now" button located to the right in the header
  • Fill out the registration form
  • Agree to the terms and conditions
  • Click the register now button.

As easy as the FXPrimus account opening process may be, questions on trading fees: withdrawal fees, payment provider and minimum withdrawal may crop up. This comes as no surprise as mentioned in more than one FXPrimus review, identical pages have been found when visiting different sections of the website.

Unfortunately, too, trading resources are not readily made available to potential clients. Hence, for more support, FXPrimus traders can take benefit of the customer service team which provide 24/5-hour live chat support.

FXPrimus Charts and Analysis


FXPrimus offers limited trading resources and educational material for its clients. The primary source of information is accessible through the “Education” menu, which directs users to the FXPrimus blog. While the blog contains various articles and posts covering market analysis, trading strategies, trading signals and industry news, it falls short in comparison to the comprehensive educational support offered by top-tier brokers.

Leading brokers, such as ZFX with its A-Z Academy or XM with its video analysis, provide a more extensive range of educational materials that cater to traders of all experience levels. These resources often include in-depth video tutorials, webinars, e-books, and dedicated training courses covering various aspects of trading and market analysis.

It is essential for brokers to offer robust trading resources and educational materials for both potential clients and active traders. These resources help beginners understand the fundamentals of trading and allow experienced traders to enhance their knowledge and stay up-to-date with the latest market trends and strategies. A well-informed trader is more likely to make better trading decisions, leading to higher levels of success and satisfaction with the broker’s services.

In addition to educational materials, other trading resources that can be found with some brokers include market analysis tools, such as economic calendars, news feeds, sentiment indicators, and technical analysis tools. These resources can help traders make more informed decisions by providing valuable insights into market conditions, upcoming events, and potential trading opportunities.

While FXPrimus offers a blog as a source of trading-related information, the limited range of educational materials and resources may not meet the expectations of traders seeking comprehensive learning opportunities. Top-tier brokers, on the other hand, provide a wide array of educational materials and trading resources that cater to traders at all experience levels, helping them to improve their skills and make better-informed decisions in the markets.

  • Blog (articles)

FXPrimus Account Types


FXPrimus offers a range of trading account types tailored to suit the needs of various clients, regardless of their portfolio size or investment level. Each account type is designed to provide traders with specific features and benefits that cater to their trading preferences.

While FXPrimus does offer its clients educational resources and trading tools (as we stated before), it is worth noting that these materials are not accessible unless a client signs up for an account.

This limited access may deter potential clients looking to explore the broker’s educational offerings before committing. The only public-facing source of information provided by FXPrimus is their blog, which contains articles and posts related to market analysis, trading strategies, and industry news. However, the blog alone may not be sufficient for traders seeking comprehensive educational resources.

Furthermore, when navigating the FXPrimus website, visitors might notice that some sections lead to identical pages. This can confuse potential clients trying to gather information about the broker’s offerings and services. Ideally, a broker’s website should provide clear and distinct pages for each section, making it easy for visitors to find relevant information and make informed decisions.

 

Trading Account Types

Below are the different trading account types offered by FXPrimus.

  1. This FXPrimus account, the PrimusClassic is suitable for forex traders who prefer a commission-free trading environment. It offers base currencies in USD, EUR, GBP, SGD, and PLN, and features an average spread starting from 1.5 pips.

    The minimum deposit required is 15 USD or its equivalent currency, allowing up to 300 open positions. With leverage up to 1:1000 on both MT4 and MT5 platforms, this account provides negative balance protection and third-party monitoring of withdrawals. Clients also receive video tutorials, educational materials, live webinars, 24/5 live chat support, and support on various messaging platforms.

  2. The PrimusPro account, which is the most popular choice among clients, offers base currencies in USD, EUR, GBP, SGD, and PLN. It features an average spread starting from 0.3 pips and a commission of 8 USD on MT5 or 10 USD on MT4. Leverage is up to 1:500 on MT4 and up to 1:1000 on MT5. With a minimum deposit of 500 USD, clients receive the same benefits as the PrimusClassic account, including educational resources and support options. This account also allows up to 300 open positions.

  3. The PrimusZero account is designed for traders who prefer tight spreads and a commission-based structure. It offers base currencies in USD, EUR, and GBP, with spreads starting from 0 pips and a commission of 5 USD. Leverage for this account is up to 1:500, and the minimum deposit required is 1,000 USD. Like the other account types, clients can access educational resources and support options and maintain up to 300 open positions.

  4. Lastly is the FXPrimus demo account, known as the PrimusDemo account which offers a risk-free environment for FXPrimus traders to familiarize themselves with the trading platforms and trading services to practice their strategies. It features base currencies in USD, EUR, and GBP, with spreads starting from 1.5 pips and no commission. Leverage is up to 1:1000, and there is no minimum deposit requirement. This free demo trading account also allows up to 300 open positions. We do not usually cover demo accounts in our review because other brokers include demo accounts with live accounts, but this is not the case with this broker.

From the paid trading accounts to the FXPrimus demo account, they all provide variety in meeting the needs of traders. With options ranging from commission-free to tight-spread accounts and various educational resources and support options, traders can select the account that best aligns with their trading preferences and investment goals.

Features PrimusClassic PrimusPro PrimusZero PrimusDemo
Account Currencies USD, EUR, GBP, SGD & PLN USD, EUR, GBP, SGD & PLN USD, EUR, GBP USD, EUR, GBP
Available Leverage MT4 up to 1:1000 MT5 up to 1:1000 MT4 up to 1:500 MT5 up to 1:1000 1:500 1:1000
Minimum Deposit 15 USD* 500 USD* 1,000 USD* 0 USD*
Commission Per Trade 0 $8 (MT5) $5 0
Decimal Pricing 5 5 5 5
Trading Instruments 120+ 120+ 50+ 120+
Min. Lot Size Per Trade 0.01 0.01 0.01 0.01
Max. Lot Size Per Trade 50 50 50 50
Spreads Starting from 1.5 Pips Starting from 0.3 Pips Starting from 0 Pips Starting from 1.5 Pips
Demo Account Yes Yes Yes Yes
Swap/Rollover Free Yes Yes Yes Yes
Hedging Yes Yes Yes Yes
Scalping Yes Yes Yes Yes
Copy Trading Support Yes Yes Yes Yes
Available to US Residents No No No No

  • PrimusClassic
  • PrimusPro
  • PrimusZero
  • PrimusDemo

Do I Have Negative Balance Protection with This Broker?


Negative Balance Protection

In terms of protection of client funds, FXPrimus offers negative balance protection on all their trading accounts except for the free demo trading account. This feature is crucial for traders as it ensures their account balance will not fall below zero, even in extreme market conditions or sudden price movements. To find this information, visitors can head to the “Company” tab in the menu and click on the “Safety of Funds” section.

 

Negative balance protection is important for several reasons. Firstly, it safeguards traders from incurring debt due to trading losses, which can be especially beneficial for beginners who might not yet fully understand the risks involved in trading. In the absence of negative balance protection, traders can potentially lose more money than they initially deposited, resulting in a negative account balance and a debt to the broker.

Secondly, negative balance protection contributes to building trust between the broker and its clients. When a broker offers this feature, it demonstrates that they prioritize their client’s financial well-being and aim to provide a secure trading environment. This commitment to client protection can help traders feel more confident in their choice of broker and encourage long-term trading relationships.

Many top-tier brokers, such as ZFX, now consider negative balance protection a standard business practice. This feature has become essential to a broker’s offering as it aligns with the industry’s move towards prioritizing client safety and responsible trading.

FXPrimus’s provision of negative balance protection on all their trading accounts, except the demo account, highlights their commitment to protecting their client’s financial well-being.

Negative balance protection is vital in the trading industry as it prevents traders from incurring debt and helps build trust between clients and their brokers. With top-tier brokers like ZFX embracing this standard, it is clear that negative balance protection is a crucial component of a secure and responsible trading environment.

  • Yes, on all accounts except the demo account

FXPrimus Deposits and Withdrawals


FXPrimus offers its clients various deposit and withdrawal methods, though the options are somewhat limited compared to other brokers. You can find detailed information about these methods by visiting their website’s “Funding” section under the “Trading” menu tab.

Bank wire transfers are one of the available methods, with processing times taking 2-5 working days. The minimum withdrawal amount for this method is 100 USD, and FXPrimus accepts various currencies, such as USD, EUR, SGD, GBP, PLN, HUF, ZAR, and BRL. FXPrimus covers the fees on their side, but clients should be aware that their banks may charge additional fees for both deposits and withdrawals.

Local transfers are another option, offering a processing time of 1-5 working days. FXPrimus covers the fees; the minimum withdrawal amount is also 100 USD. Currencies supported for local transfers include MYR, IDR, VND, and THB.

Credit card deposits and withdrawals are available as well, but only cards issued outside of the USA are accepted. To prevent delays, clients are advised to provide supporting documentation when funding their trading accounts. Credit card transaction processing is usually up to 5 minutes, and the minimum withdrawal amount is 100 USD. Supported currencies for credit card transactions include USD, EUR, SGD, GBP, PLN, and HUF.

Lastly, e-wallets can be used for deposits and withdrawals, with up to 5 minutes of processing times. The minimum withdrawal amount is 100 USD, and FXPrimus covers the fees. The supported currencies for e-wallet transactions are USD, EUR, SGD, GBP, PLN, and HUF.

FXPrimus does not charge deposit fees, and funds received in a currency other than the trading account’s base currency will be automatically converted. It is important to note that FXPrimus does not accept third-party deposits – payments must be made in the client’s name, matching their FXPrimus trading account. The broker’s working hours for most funding are Monday to Friday, 7:00 – 21:00 GMT+2.

While FXPrimus provides several options for deposits and withdrawals, the choices are relatively limited compared to other brokers in the industry. Clients should carefully consider their needs and preferences when selecting a broker, taking into account the available funding methods and associated fees.

  • Bank Wire
  • Local Transfer
  • Credit Cards
  • E-Wallets

Support Service for Customer


FXPrimus provides various customer support options for their clients, which can be found under their website’s “Contact Us” page. Having responsive and efficient customer support is crucial for traders, as it ensures their questions, concerns, and issues are addressed promptly, allowing them to focus on their trading activities.

The customer support options offered by FXPrimus include live chat, email, and a contact form. Additionally, clients who open an account with the broker can access support via Messenger, WhatsApp, WeChat, Zalo, Line, and Telegram. This accessibility allows potential clients to get answers to their questions, receive assistance in navigating the platform, and better understand the broker’s services before committing. This level of support must be available not only to existing clients but also to potential clients.

Traders should consider the quality and accessibility of customer support when choosing a broker, as this can greatly impact their overall trading experience. Offering comprehensive and accessible customer support to both clients and potential clients helps build trust and a strong relationship between the broker and its users. In addition to these support channels, other top-tier online, CFD, ECN, and forex brokers, such as ZFX, may offer a more extensive range of customer support options, contributing to a more satisfying and seamless trading journey.

FXPrimus Customer Support Overview
Supported Languages English, Chinese, Spanish, Arabic, French, German, Italian, Portuguese, Russian, Vietnamese
Customer Service By FXPrimus
Customer Service Hours 24/5 for Live Chat
Email Response Time Within 24 hours
Telephonic Support No
Personal Account Manager No

  • Supported Languages: English, Chinese, Spanish, Arabic, French, German, Italian, Portuguese, Russian, Vietnamese
  • Customer Service Channels: live Chat, Email, Contact Form, Social apps (For Clients)
  • Customer Service Hours: 24/5

Prohibited Countries: Where Can I Not Trade with this Broker?


FXPrimus operates under strict regulatory guidelines, which dictate the countries in which they can and cannot offer their services. There are certain jurisdictions where FXPrimus cannot operate, such as Australia, Belgium, Iran, Japan, North Korea, and the USA. This information is available in the broker’s footer section on their website, and it’s important to note that the list may be subject to change at the broker’s discretion.

The reasons behind these restrictions often stem from varying regulatory requirements, local laws, sanctions, and different business entities. Regulatory authorities have specific rules and guidelines that brokers must adhere to in order to protect investors and maintain a transparent financial market. Operating in different regions may require brokers to comply with various regulatory authorities, obtain additional licenses, or even establish separate business entities.

Certain countries may also impose sanctions or have stringent laws that limit the activities of foreign financial service providers. Consequently, brokers like FXPrimus must carefully evaluate each jurisdiction and ensure compliance with local regulations before offering their services.

It is crucial for traders to be aware of these restrictions and understand that brokers can only operate in certain regions due to the complex nature of international financial regulations. This highlights the importance of working with a broker that is transparent about its operations and regulatory compliance to ensure a secure and trustworthy trading experience.

  • Australia, Belgium, Iran, Japan, North Korea, and the USA

Special Offers for Customers


Upon reviewing FXPrimus’ website, it appears they do not offer any special promotions or incentives for their clients. However, incentivizing potential and existing clients through various promotions can be an essential aspect of a broker’s marketing strategy, as it can help attract new clients and encourage loyalty among existing ones.

Special promotions such as deposit bonuses, welcome bonuses, trading competitions, and rewards programs can be quite appealing to traders. These offers add value to the trading experience and can even make the difference when traders choose between different brokers. Top-tier online brokers, such as ZFX, understand the importance of these incentives and often consider them as part of their standard offerings.

In addition to the aforementioned promotions, brokers may also offer other incentives such as cashback or rebate programs, referral bonuses, and discounted trading fees. These promotions enhance the overall trading experience and create a sense of community among traders, as they can participate in competitions and benefit from various rewards programs.

Brokers need to strike a balance between offering attractive promotions and maintaining a responsible trading environment. Excessive incentives might encourage risky trading behavior, which is why regulatory authorities often monitor these promotional activities closely.

Although FXPrimus does not currently offer special promotions or incentives, it’s crucial for brokers to consider implementing such strategies to stay competitive and provide added value to their clients. Doing so can attract new traders, retain existing ones, and foster a strong community within their client base.

  • None

FXPrimus Review Conclusion: Reputable Broker with Easy-to-use Platform


However, their limited educational resources, lack of special promotions, and restricted access to certain countries may be seen as drawbacks for some traders

PIPPENGUIN

FXPrimus appears to be a relatively safe and reliable broker, considering its regulation by multiple authorities such as CySEC, FSCA, and VFSC. However, their limited educational resources, lack of special promotions, and restricted access to certain countries may be seen as drawbacks for some traders. Additionally, the fact that they offer a limited range of deposit and withdrawal methods may be a concern for some potential clients.

While the broker does provide some basic trading resources and a range of trading platforms, including MT4, MT5, cTrader, and WebTrader, it is essential for traders to thoroughly evaluate their options before committing to a specific broker.

In conclusion, FXPrimus may be a viable choice for some traders, particularly those who value regulation and security above all else. However, it is crucial for traders to carefully consider the broker’s offerings and limitations and compare them with other industry leaders to determine if FXPrimus is the best fit for their specific trading requirements.

Summary and Key Takeaways


FXPrimus is a broker that offers its clients a range of services and features. The broker supports multiple asset classes, including forex, metals, energies, cryptocurrencies, indices, and equities, with varying leverage, contract types, and sizes. They provide various trading platforms, such as MetaTrader 4, MetaTrader 5, cTrader, and WebTrader, to cater to different trading preferences.

FXPrimus has different accounts available to suit different trading needs, including PrimusClassic, PrimusPro, PrimusZero, and PrimusDemo. While their educational material is limited to a blog, clients who open certain account types gain access to video tutorials, live webinars, and priority support. The broker offers negative balance protection on all their accounts except the demo account, ensuring safer trading conditions.

Regarding deposits and withdrawals, FXPrimus supports multiple methods, such as bank wire, local transfer, credit cards, and e-wallets, although their options are quite limited compared to other brokers. Their customer support is available through live chat, email, and a contact form, and clients who open an account can also get support via Messenger, Whatsapp, WeChat, Zalo, Line, and Telegram. However, the broker does not seem to offer any special promotions or incentives for potential and existing clients, which is a disadvantage compared to top-tier brokers like ZFX that provide such benefits.

  • Offers various trading platforms: MetaTrader 4, MetaTrader 5, cTrader, and WebTrader
  • Supports multiple asset classes: forex, metals, energies, cryptocurrencies, indices, and equities
  • Provides different account types: PrimusClassic, PrimusPro, PrimusZero, and PrimusDemo
  • Limited educational material, primarily accessible through a blog
  • Offers negative balance protection on all accounts (except demo)
  • Supports multiple deposit and withdrawal methods: bank wire, local transfer, credit cards, and e-wallets
  • Customer support is available through live chat, email, and contact form; additional support for clients via Messenger, Whatsapp, WeChat, Zalo, Line, and Telegram
  • Lacks special promotions or incentives for potential and existing clients

FAQs


What is the minimum deposit for FX Primus?

The minimum deposit for FXPrimus varies depending on the account type you choose. For PrimusClassic, the minimum deposit is 15 USD, while for PrimusPro and PrimusZero, it’s 500 USD and 1,000 USD, respectively. There is no minimum deposit for the PrimusDemo account.

Where is FX Primus from?

FXPrimus is based in Cyprus and operates under the Cyprus Securities and Exchange Commission (CySEC) regulation. The broker also adheres to the European MiFID II directive, ensuring a secure and transparent trading environment for its clients. 

What type of account is FX Primus?

FXPrimus offers various account types to cater to different trading needs. These include PrimusClassic, PrimusPro, PrimusZero, and PrimusDemo. Each account type offers different features, such as varying spreads, commissions, and leverage, to suit the requirements of individual traders. 

What is the maximum leverage in FXPrimus?

The maximum leverage available at FXPrimus depends on the account type and the trading platform used. For MT4 users, leverage can be up to 1:1000 for PrimusClassic and PrimusPro accounts and 1:500 for PrimusZero. For MT5 users, leverage can be up to 1:1000 for all account types. 

 

4 reviews for FXPrimus Review 2024: Is It a Trustworthy Broker?

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  1. Neha Kamble

    Had a bad experience regarding investing my funds, it wasn’t easy for me as I was scammed several times. I lost 120,000 $ all of my money until I came across a recovery expert named Olivia. She helped and assisted me in terms of recovery of my funds . I got my funds recovered in just 5 days with just little effort. I will highly recommend Olivia. She is sincere and honest all the time. She helped me get everything I lost.

    Contact Olivia now if you need get his help

    WhatsApp. +1 (423) 248-2140

    oliviatrader44@gmail.com

    + PROS: non
    - CONS: non
    Helpful(0) Unhelpful(1)You have already voted this
  2. John

    As a newbie in trading, I found FXPRIMUS pretty decent. The Primus Markets platform is user-friendly, which is great for beginners like me. Though I’m still getting the hang of things, their resources are quite helpful. So far, so good. Looking forward to more trades!

    + PROS: user-friendly
    Helpful(1) Unhelpful(0)You have already voted this
  3. Kenny

    FXPrimus impresses with top-notch security and a user-friendly platform. Primus Broker offers a wide range of instruments and excellent customer support. Slightly higher spreads, but worth it for the security and ease of use.

    + PROS: user-friendly top-notch security wide range of instruments
    - CONS: non
    Helpful(0) Unhelpful(0)You have already voted this
  4. wilson donard

    I lost my coin to some fake platform. I tried my best to fix up my mistake. It only took the help of a financial consultant named Jeff that helped me get my money recovered. I visited his mail jeffsilbert39 gmail com and he responded. You still have enough time to fix up the mistake of being a victim to these online scams.
    Reach lit to whapp + 84 94 767 1524.
    ..

    + PROS: none
    - CONS: i foud help
    Helpful(1) Unhelpful(0)You have already voted this

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    FXPrimus Review 2024: Is It a Trustworthy Broker?
    FXPrimus Review 2024: Is It a Trustworthy Broker?
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