FXPRIMUS Review
FXPRIMUS is a well-established online trading broker that places a strong focus on client safety and education. They have over a decade of industry expertise while utilising certain new technology to continue to strive and enhance their offering to traders and investors from all backgrounds.
FXPRIMUS is an online forex and CFD broker, established in 2009. The broker’s website is operated by Primus Global Ltd, a company of FXPRIMUS Group. FXPRIMUS’s headquarters are located in Cyprus. The broker is authorised and regulated by some of the top-tier regulatory bodies such as CySEC. In addition, VFSC and FSCA also regulate FXPRIMUS.
FXPRIMUS offers a wide range of trading instruments over popular asset classes such as forex, equities, energies, futures, precious metals, cryptocurrencies, and indices. The broker offers a transparent and safe trading environment with minimal trading costs and multiple options of trading platforms such as MT4, MT5, and cTrader and access to an API for those of you who need institutional trading conditions.
Investors can choose to invest in portfolios of professional traders with a track record with the help of the PAMM offered by the broker. This also gives money manager out there a platform to provide their services from. On top of that, the broker offers a free VPS service for eligible clients to keep automated trading strategies online 24/7.
FXPRIMUS has a variety of educational and research resources. Whether it’s a market outlook or guides and videos, the broker offers all in one place. I think they can be a great choice of broker for retail and professional traders and investors who want to utilise the latest technologies within a regulated environment.
FXPRIMUS has over a decade of providing trading services in over 130 trading instruments. This is not the largest selection you will find but the broker does have other advantages to consider. They utilise the ECN execution model which enables you to execute orders with minimal latency. You can fund your trading account using multiple payment options with low minimum requirements. You also get free deposits and withdrawals and transactions are seamless.
The broker is regulated and has the benefit of negative balance protection, whislt secure cloud servers make FXPRIMUS an ideal trading option if security is a concern. Moreover, tight spreads, zero commission accounts, and trading with a great choice of 4 available trading platforms provide opportunities to all sorts of traders. In addition, swap-free (Islamic accounts), free demo trading accounts, and many educational resources are also offered by the broker.
On the other hand, FXPRIMUS does not accept clients from some countries, including the US. The broker does not offer fixed spread accounts. In addition, the company is not listed on any stock exchange.
FXPRIMUS has a reasonable product portfolio of around 130+ financial instruments. The broker offers popular asset classes such as forex, CFDs, stocks, indices, commodities, options, bonds, and cryptocurrencies. However, the broker does not offer baskets (ETFs).
Whilst I think that it is fair to say they cover a diverse range of asset classes, the individual financial instruments to be lacking when compared to some of the market leaders such as IG who have over 18,000 tradeable instruments in comparison. They are also very well regulated and can cater to traders and investors across the globe including the USA.
FXPRIMUS Instruments Summary
| Instruments | FXPRIMUS |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | ✓ |
| Bonds | ✓ |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
FXPRIMUS offers flexible account types to suit the needs of every type of trader. You can trade with average spreads starting from 1.5 pip without any commission with Cent and Classic accounts. In addition, you can choose pro accounts with tight spreads starting from 0.3 pip and a minimum commission of $8. Finally, you also have an option of zero accounts where spreads start from 0.0 pip and commission starts from $5.
| Fee | Cent | Classic | Pro | Zero |
|---|---|---|---|---|
| Commission (per standard lot per side) | $0 | $0 | $4 | $2.50 |
| Spreads from | 1.5 | 1.5 | 0.3 | 0.0 |
Deposit and Withdrawal Fees
FXPRIMUS does not charge any deposit fee or withdrawal fee. However, you should check with your service provider, see if they apply any transaction charges.
Inactivity Fees
FXPRIMUS does not charge an inactivity fee from its clients which is great and an advantage they have over many other brokers.
FXPRIMUS provides multiple trading platforms and trading apps with solutions to meet the needs of all traders. Those of you who want simplicity can enjoy the user-friendly MT4 and MT5 platforms. The ones who want advanced options can choose from cTrader and Platinum API. In addition, useful trading tools such as PAMM accounts and VPS service provide investors with many benefits. I would compare the brokers platforms to what you will find with RoboForex as an alternative option. Let’s look at each trading platform and tool briefly.
MetaTrader 4 (MT4)
Today, the MetaTrader 4 platform is the industry standard for creative and sophisticated trading platforms. It can handle a wide range of financial products, and regular investors use it to buy and sell currencies.
In addition to Forex, the MT4 platform allows Futures, Indices, Equities, and other CFD trades.
MT4 is ideal for traders of all levels of expertise and is known for its user-friendly interface, comprehensive charting features, technical analysis tools, and automated trading capabilities. FXPRIMUS’s MetaTrader 4 platform accepts a variety of account currencies, including USD, EUR, GBP, SGD, and PLN. It is also accessible in more than 30 languages.
Its simple design, comprehensive security system, and accessible mobile trading are just a few of the fundamental competencies that provide MetaTrader 4 a compelling competitive edge, providing the ideal answer to even the most demanding trading requirements.
Here are the features of MT4:
- Available of desktop (Windows and Mac) devices, web browsers, and mobile devices (iOS and Android)
- 3 chart types and 11 timeframes
- Dedicated technical indicators and drawing objects for technical analysis
- Multiple order types
- ECN executions
- Market Depth
- MQL4 editor for custom scripts
- Full support for Expert advisors (EAs) and a strategy tester with historical data
- Push notification
- One-click trading from the charts
- MT4 multiterminal
MetaTrader 5 (MT5)
With MT5, you may trade thousands of CFDs on Currency Pairs, Equities, Indices, Commodities, Energies, and Cryptocurrencies.
This versatile, safe, and free-to-use trading platform, accessible in over 50 different languages, provides you with a large selection of order options, technical indicators, timeframes, drawing objects, and other previously unavailable functions MT4.
Here are the features of MT5:
- Rapid Execution
- Futures, Bonds, Options & Crypto Available for Trading
- Partial Orders
- Buy & Stop Limit Orders
- Hedging & scalping allowed
- 8 new Technical Indicators
- 13 new Graphical Objects
- Economic Calendar
- Strategy Tester
- 21 Timeframes
- Depth of Market (DOM)
- Funds Transfer
- MQL5 Community
- MetaQuotes Marketplace
cTrader
cTrader is the perfect trading platform for both novice and experienced traders looking to trade worldwide markets. FXPRIMUS cTrader will alter your trading approach with its powerful risk management, rapid execution, and exact market analysis tools.
Here are the key features of cTrader:
- Modern Design
- Sophisticated Interface
- Partial order filling
- Additional timeframes
- Market depth
- Advanced risk management tools
- cCopy for copy trading
- A wide range of technical indicators
- Multiple take-profit orders in one position
Platinum API
FXPRIMUS provides direct market access (DMA) using a unique FIX Protocol to clients that demand a more personalised experience with quicker execution times. It is worth noting that access to the Platinum API requires a minimum deposit of $50,000, despite the fact that margin requirements on some instruments are as low as 1% via the API.
The Platinum API could benefit retail or institutional clients who have developed proprietary trading models, brokers who want to hedge the exchange rate exposure of equity positions, customers who want to keep their automated systems anonymous, and other institutions that want to diversify risk due to balance sheets or other factors.
PAMM accounts (Master and Follower)
The PAMM platform, which is ideal for professional and experienced traders, allows you to display the success of your trading strategy to thousands of FXPRIMUS clients, get FOLLOWERS, and earn commissions and performance fees with PAMM Master accounts.
The FXPRIMUS PAMM platform is ideal for traders who wish to engage in the financial markets but lack the requisite time and abilities. As a PAMM Follower, you may monitor MASTERS’ trading performance and select which professional traders to replicate automatically. MASTERS trade their own money to guarantee that their goals are perfectly aligned with yours.
Trading Tools
FXPRIMUS offers a variety of market news and chart analysis tools to help you make trade decisions and improve the functionality of the MT4 trading platforms. All traders, regardless of portfolio size or trading expertise, have access to trading tools. Each trading tool comes with user instructions and tutorial videos. I think there is a fantastic selection that can help you find opportunties according to your own preferences. If you want an even greater range of powerful tools, Markets.com are worth a look.
Connect
The connect option allows clients access to the FXPRIMUS news stream within the MT4 platform, keeping you up to date on the company’s current promotions.
Market Manager
The market manager tool allows you to monitor real-time market rates and your trading positions without having to access your trading platform.
Mini Terminal
The micro terminal increases trading efficiency by allowing you to trade with a single click, alter lot size, establish stop losses, take profit or trailing stops, and do other things.
Sentiment Trader
The sentiment trader tool will display the direction in which other FXPRIMUS traders are trading on each instrument. If you trade against the herd, this is a handy tool for a contrarian trading approach.
Trade Terminal
A fully customisable stand-alone trading tool that helps you trade from one place.
FXPRIMUS Platforms Summary
| Platform | FXPRIMUS |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | ✓ |
| Proprietary | x |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | ✓ |
| Other | ✓ |
FXPRIMUS’s team of professional financial analysts has collected a library of trading education that includes videos, seminars, and webinars. These offered insights and financial reports to help you improve your trading knowledge and abilities and make more educated trading decisions.
Weekly Outlook
This section contains a weekly analysis of different market instruments to keep you informed regarding the latest global market conditions.
Expert Guests
FXPRIMUS has a team of professional traders who keeps commenting on the financial markets and help its clients make informed decsions and learn from these experienced traders.
Seminars
FXPRIMUS often offers seminars all around the world in order to educate traders of all levels. Anyone interested in learning more about trading is welcome to register and attend.
Educational Videos
On the FXPRIMUS website, there is a library of interesting educational films covering a variety of subjects for both novice and expert traders, such as trading psychology, trading platforms, technical analysis, and more. These can be examined in order to help you improve your trading skills.
Blog
This section contains educational content on financial news, markets, trading strategies, and guides.
Economic Calendar
The FXPRIMUS economic calendar keeps you up to speed on the most recent market developments from across the world. It allows you to keep track of news happenings without having to visit several websites and sources.
Trading Calculators
FXPRIMUS offers a number of trading calculators to assist with risk management while preparing for a trade. A pip calculator, Fibonacci calculator, currency calculator, and pivot calculator are among the trading calculators.
FXPRIMUS Research and Education Summary
| Resources | FXPRIMUS |
|---|---|
| Market Analysis | ✓ |
| Guides | ✓ |
| Videos | ✓ |
| Webinars | ✓ |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | ✓ |
| Other | ✓ |
FXPRIMUS offers multiple funding options to make deposits and withdrawals seamless. The broker accepts and offers bank transfers, debit/credit cards, e-wallets, and cryptocurrencies as payment options. They have a great selection overall with something for everyone and I have always found withdrawals to be processed smoothly.
FXPRIMUS Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | ✓ | ✓ |
| Credit/debit Card | ✓ | ✓ |
| Electronic Wallets | ✓ | ✓ |
| Cryptos | ✓ | ✓ |
FXPRIMUS is regulated in multiple jurisdictions which means they must follow a certain set of rules and proceedures that are put in place to protect investors.
- Primus Global Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC)
- Primus Markets INTL Limited is regulated by the Vanuatu Financial Services Commission (VFSC)
- Primus Africa (Pty) Ltd is regulated by the South African Financial Sector Conduct Authority, all use the brand name FXPRIMUS (FSCA)
FXPRIMUS Regulation Summary
| Regulator | FXPRIMUS |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | ✓ |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other (FSCA, VFSC) | ✓ |
FXPRIMUS Safety
FXPRIMUS conducts independently certified financial, and compliance audits on a regular basis to ensure an unbiased, transparent, and accurate evaluation of the company’s finances. FXPRIMUS customer funds are stored in separate bank accounts from the company fund and hence cannot be utilised for any other purpose, such as operating expenses. Accounts with negative balance protection are also available.
The broker offers customer support 24/5 via live chat, phone, and email. If you would prefer 24/7 support, FP Markets are an option.
Overall, I think FXPRIMUS is a reliable broker with an excellent range of platforms and tools that can meet the demands of both retail and institutional clients. They have very good trading conditions including flexible account types for all of your different trading strategies. There is a generous selection of educational content for beginners and free demo accounts if you want to get a feel for what they have to offer without taking any risk. I also like how they have plenty of account funding options and do not charge any inactivity fees. Despite the positives, I think that they could improve by adding some more financial instruments and extending support hours to 24/7, especially considering they do provide cryptocurrency trading. Other than that, they can be a good choice for anyone looking for convenient market access and a secure environment.
