FXPrimus

In terms of FXPrimus’s legitimacy and regulation, the broker operates under the brand name Primus Global Ltd. It is part of the FXPrimus Group, a global trading company with various representative offices. With its headquarters in Cyprus, the broker is authorized to provide services to European clients under the regulation of the Cyprus Securities and Exchange Commission (CySEC).

• In addition, FXPrimus serves as an entity authorized by the VFSC (Vanuatu), which is an offshore license that does not demand strict and necessary safety measures. In case the company is solely offshore we do not recommend trading or trusting those firms, however, since FXPrimus is a European broker and duly follows Forex guidelines, it is considered to be a safe trading environment.

How Safe is Trading with FXPrimus?

Investor protection, along with compliance with regulatory rules, is ensured in numerous ways. Brokers are strictly required to keep client funds in segregated bank accounts to ensure their security. These measures are closely monitored and audited by regulatory bodies, emphasizing why regulated brokers are considered safe and, ultimately, the only recommended choice for traders.

• Moreover, all clients trading under Negative Balance Protection are ensured that they will never incur losses exceeding their account balance. As an additional safety measure, FXPrimus has introduced client fund insurance of €2.5 million, provided free of charge to all clients.

FXPrimus has earned a good reputation during its operation and due to its regulation from a top-tier authority. The broker has a great trader’s army of over 300K traders, and a presence in more than 140 countries, which ensures extra accessibility worldwide. The good thing about FXPrimus, is that the broker is consistent in its development and expands its services constantly. The broker is also transparent in its practices, providing a safe and well-regulated environment to its clients.

Besides, its numerous achievements along with the advanced trading conditions have gained recognition and high appraisal, along with numerous industry awards. At last, going through real feedback from clients, we see that the reviews are mainly positive, along with a small number of reviews when traders indicate that the broker needs to enhance its educational section, and research tools, and expand the range of tradable instruments. All in all, FXPrimus is a good broker with favorable conditions that ensure clients are protected and provided with advanced features for a profitable experience.

Account Types and Benefits

Which Account Types Are Available with FXPrimus?

FXPrimus offers several account types with very different trading conditions, catering to a wide range of traders, from beginners to professionals.

Classic Account

The PrimusClassic account requires only a $15 initial deposit to start. With this account type, traders gain access to MT4/MT5 platforms, and access to Copy Trading is available only through this account type. The leverage is as high as 1:1000 for the PrimusClassic account, although it also depends on the entity the account is registered with. The average spread for this account is 1.5 pips, and there are no commissions applied, as all the fees are integrated into spreads.

PRO Account

The PrimusPRO account is more suitable for advanced and high-frequency traders. The minimum deposit is considerably higher and starts from $500. The leverage available is up to 1:500. This account type has a different fee structure, offering fixed commissions of $8 for traders who conduct trades through the MT5 platform and $10 for traders trading via the MT4 platform. The spreads start very low—at 0.3 pips—and depend on the instrument traded. PrimusPro is considered the broker’s most popular account type.

ZERO Account

Another account type is PrimusZero, with a $1000 minimum deposit requirement, coming with conditions excellent for professional traders. It offers leverage of up to 1:500 and a commission-based structure, although it differs from the PrimusPro account, with a lower commission that is fixed at $5, combined with spreads as low as 0 pips. For this account the popular MT5 platform is unavailable. Trades can be conducted through the MT4 platform only.

DEMO

PrimusDemo is based on the PrimusClassic account, with the availability of the same features and conditions. This is a demo account, thus there is no need for a deposit. The account average spreads are at 1.5 pips, with no commissions, while the leverage can be as high as 1:1000.

Cost Structure and Fees

•  Brokerage Fees

We found that FXPrimus fees predominantly depend on the account type traders choose. The broker offers spread-based and commission-based account types, with different fees and opportunities. In general, the fees FXPrimus offers are either average or on the lower side and are mostly transparent and clear.

• Spreads

FXPrimus offers one account type – PrimusClassic, that is entirely spread-based, with no commissions added. The average spreads applied to this account are 1.5 pips. For the PrimusPro account, the spreads are lower and start from 0.3 pips, yet the account also incurs fixed commissions.

•  Commissions

As we found the broker offers a classic account type that is totally based on spreads, with no commissions. It also offers two more account types that come with different amounts of commissions and enables traders to choose between the options. For the PrimusPro account the spreads start from 0,3 pips with a fixed commission of $8 for the MT5 platform and a commission of $10 if trades are conducted on the MT4 platform.
On the other hand, the PrimusZERO account offers spreads from 0 pips with a $5 fixed commission.

How Competitive Are FXPrimus Fees?

Our research of the broker’s fee structure revealed that the costs mostly depend on the account type and, in some cases, on the platform. The fees are mostly on the lower side. The positive factor about FXPrimus fees is that the broker offers good diversity, with different structures and commissions to suit various traders.
However, traders can become familiar with all the costs for certain instruments after opening an account and accessing the client area, which, in a certain way, prevents them from being aware of all the costs before signing up with the broker. Thus, we recommend traders consider these nuances when making a final decision about the broker’s suitability.

Trading Platforms and Tools

FXPrimus enables traders to conduct trades on the two popular platforms – MT4 and MT5. Both platforms are possible to download for Windows, Android, and iOS. The MT5 platform is also available for MAC. Besides, the broker enables traders to access WebTrader, which ensures flexibility and ease of trading.

 Web Platform

The broker ensures that traders have access to WebTrader, to conduct trading directly through their preferred web browser with no installations required. It works well with any operating system and type of browser and requires only the internet to access the market.

The tools support all types of trading orders, MT4 Execution modes, and enable successful and versatile trading. One-click trading, 30 indicators, 24 graphical objects for technical analysis, and 9 timeframes. In addition, real-time quotes in Market Watch and detailed trading operations history make WebTrader a comprehensive and convenient solution for active traders.

Main Insights from Testing

FXPrimus’s Webtrader is a perfect opportunity to trade without prior installations and downloads from any device, giving traders simple access to their accounts. The WebTrader retains almost all the features of the platform, without restricting traders in their trading. All in all, with advanced features available and ease of access to the market, clients find the web trader a great choice.

Desktop MetaTrader 4 Platform

FXPrimus MetaTrader 4 is an advanced platform, popular among traders at any level. It offers ease of use, sophisticated charting, and technical analysis, allowing automation of trades. The broker’s MT4 platform supports Forex, Futures, Indices, Equities, and other CFD instruments. Traders can add extra features through the MQL portal or custom solutions, enhancing the trader experience. Besides, 9 timeframes, technical analysis tools, and a user-friendly interface further ensure profitable and smooth trading.

 Desktop MetaTrader 5 Platform

The MetaTrader 5 platform ensures an innovative trading environment for advanced functionality by supporting CFDs, stocks, futures, and even cryptocurrencies. The MT5 platform stands out for its more advanced insights with 21 timeframes and more technical indicators compared to the MT4 platform. The platform enables EAs, different chart types like line, bar, candlestick, etc., and an MQL5 programming language. MT5 is especially beneficial for traders who employ different kinds of trading strategies.

 MobileTrader App

Mobile trading with FXPrimus is supported by the MT4/MT5 platforms, both accessible on iOS and Android devices. Comprehensive trading functions are accessible through mobile applications, such as real-time quotes, interactive charts, and a variety of analytical tools that make it possible for traders to conduct their trades with the same efficiency from the palm of their hands.

Trading Instruments

What Can You Trade on the FXPrimus Platform?

FXPrimus provides access to over 200 trading instruments, including Forex, Commodities, Stocks, Energies, Indices, and Cryptocurrencies. While the range of instruments may seem limited compared to some other brokers, it still includes a sufficient variety of popular assets to diversify the portfolio. This, combined with the competitive costs offered by FXPrimus, makes it an appealing option for traders seeking quality over quantity.

Here are all the instruments offered by the broker:

• Forex
• Equities
• Energies
• Precious Metals
• Indices
• Cryptocurrencies
• Stocks

Main Insights from Exploring FXPrimus Tradable Assets

While exploring the broker’s tradable products, we discovered a modest range of instruments offered. However, the asset classes introduced are versatile and enable traders to diversify their portfolios.

Besides, FXPrimus offers traders the option of trading CFDs on the Nasdaq 100 Stock Index. The Nasdaq is the second-largest stock exchange in the world, based in America, and mostly popular for its large stock list.

However, based on our research, all the instruments offered are mainly CFD-based, which limits the chances for traditional investments.

Deposit and Withdrawal Options

Deposit Options

The wide range of funding solutions offered to clients worldwide enables them to fund their accounts with trust, safety, and confidence. However, it is important to verify the applicable conditions and methods based on your country of residence and the specific FXPrimus entity you are using.

Here are the main available funding methods:

• Bank transfers
• Credit card payments that allow an easy transaction
• E-wallets including Neteller, Skrill, UnionPay, Trust Pay, WebMoney, and many more

Minimum Deposit

The minimum deposit for the PrimusClassic account is $15. For the PrimusPro the initial funding is $500, and for the PrimusZero $1.000.

Withdrawal Options 

In accordance with FXPrimus’s Money-in-Money-out policy, all withdrawals up to the amount deposited will be processed using the same method for funding the account. Any amount exceeding the deposited sum can be withdrawn via alternative methods provided by the company.

• The withdrawal processing time for credit cards and e-wallets is up to 5 minutes. Bank wires take 2-5 working days, while local transfers from 1 to 5 working days.

Customer Support and Responsiveness

Testing FXPrimus Customer Support

FXPrimus provides quality customer support, efficiently guiding clients through opening an account, trading, and other general services. The support team is available via live chat and email to ensure that clients can contact them through their preferred channel. Besides, FXPrimus supports multiple languages, ensuring that clients from different parts of the world can be supported in their native language.

Education

The Education section of FXPrimus is dedicated to articles for both beginner and advanced traders. We cannot say that the broker provides extensive educational resources, but, at least the materials provided will help traders of different levels learn about the market and obtain certain insights.

• The Beginner section includes a good range of articles covering different market-related topics from how to navigate currency markets to how to use various signals.
• Advanced traders have access to comprehensive guides and articles on complex strategies, margin leverage, etc.
• Also, clients have access to a News section that reflects on the important events taking place in the market. However, we found that the section provides limited information.
• Traders who prefer video guides can visit FXPrimus’s YouTube channel, which includes both tutorials and the latest news about the broker.