FXPRIMUS Forex Broker
Basic Information
Vanuatu
2-5 years Suspicious Regulatory License cTrader Suspicious Scope of Business High potential riskCompany profile
Rating Index
PrimusZERO
PrimusPRO
Fxprimus Forex Broker - Complete Information Guide
1. Broker Overview
Fxprimus, officially known as Primus Global Ltd, was founded in 2009 and is headquartered in Limassol, Cyprus. The broker operates under the regulatory oversight of the Cyprus Securities and Exchange Commission (CySEC) and the Vanuatu Financial Services Commission (VFSC). As a privately held entity, Fxprimus focuses on delivering a secure and efficient trading environment for its clients.
Over the years, Fxprimus has established a strong presence in the global trading market, catering to a diverse clientele across Europe, Asia, and Africa. With a trader base exceeding 300,000, the broker has made significant strides in enhancing its service offerings and technology. Key milestones in its development include the introduction of advanced trading platforms and a commitment to client education, which has earned it multiple industry awards.
Fxprimus operates primarily in the retail forex and CFD trading markets, offering clients access to a variety of financial instruments. The company is part of the Fxprimus Group, which encompasses several entities, including Primus Markets International Limited, regulated by VFSC, and Primus Africa (Pty) Ltd, regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. This structure allows Fxprimus to provide tailored services to both retail and institutional clients, ensuring a comprehensive trading experience.
2. Regulation and Compliance Information
Fxprimus is regulated by several prominent authorities, ensuring a secure trading environment for its clients. The primary regulatory bodies include:
- Cyprus Securities and Exchange Commission (CySEC) - License No. 261/14
- Vanuatu Financial Services Commission (VFSC) - Registration No. 14595
- Financial Sector Conduct Authority (FSCA) - License No. 46675
These licenses not only affirm the broker's legitimacy but also provide a framework for investor protection. CySEC's regulations are particularly stringent, requiring brokers to maintain client funds in segregated accounts, thereby ensuring that traders' assets are protected from the broker's operational risks.
Fxprimus participates in an investor compensation fund, which offers additional security for clients, covering a portion of their deposits in the event of insolvency. The broker adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, which are designed to prevent fraud and ensure that all transactions are legitimate.
3. Trading Products and Services
Fxprimus offers a diverse range of trading products, primarily focusing on forex and CFDs. The broker provides access to over 120 trading instruments, including:
- Forex: More than 43 currency pairs, including major, minor, and exotic pairs.
- CFDs: A selection of indices, commodities, and precious metals such as gold and silver.
- Stocks: CFDs on shares from prominent global companies.
- Energies: Trading options include crude oil and natural gas.
- Cryptocurrencies: Limited options available for trading popular cryptocurrencies.
The products are regularly updated to reflect market trends, ensuring that traders have access to the most relevant instruments. Fxprimus also offers retail trading services, allowing individual traders to engage in the markets with competitive conditions. Institutional clients can access tailored services, including liquidity provision and white label solutions.
4. Trading Platforms and Technology
Fxprimus supports several popular trading platforms, providing flexibility and advanced features for traders. The main platforms include:
- MetaTrader 4 (MT4): Known for its user-friendly interface and robust features, MT4 is suitable for traders of all levels and supports automated trading through Expert Advisors (EAs).
- MetaTrader 5 (MT5): An upgraded version of MT4, MT5 offers additional features such as more timeframes, advanced order types, and enhanced analytical tools.
- cTrader: A platform favored by experienced traders for its advanced charting capabilities and fast execution speeds.
- WebTrader: A browser-based platform that allows for trading without the need for software installation, providing essential features for traders on the go.
Fxprimus employs advanced technology infrastructure, including cloud-based servers that enhance execution speeds and reliability. The broker also offers API access for automated trading solutions, catering to the needs of algorithmic traders.
5. Account Types and Trading Conditions
Fxprimus provides several account types to accommodate different trading styles and preferences:
- Primus Classic Account: Requires a minimum deposit of $15, with average spreads starting from 1.5 pips and no commissions.
- Primus Pro Account: Requires a minimum deposit of $500, offering tighter spreads from 0.3 pips and a commission of $8 on MT5 or $10 on MT4.
- Primus Zero Account: Designed for professional traders, this account requires a minimum deposit of $1,000, features spreads starting from 0 pips, and a fixed commission of $5.
- Primus Demo Account: Available for practice without financial risk, allowing traders to familiarize themselves with the platform and strategies.
Leverage varies by account type, with the Primus Classic and Pro accounts offering leverage up to 1:1000, while the Primus Zero account allows for 1:500. The minimum trade size is 0.01 lots, and overnight fees apply based on market conditions.
6. Fund Management
Fxprimus supports a variety of deposit and withdrawal methods, ensuring convenience for its clients. The available funding options include:
- Bank Transfers
- Credit/Debit Cards: Visa and Mastercard.
- E-wallets: Neteller, Skrill, UnionPay, and others.
The minimum deposit requirement is $15 for the Primus Classic account and $500 for the Primus Pro account. Withdrawals require a minimum of $100 and are processed within 2-5 working days for bank transfers and up to 5 minutes for e-wallets. Importantly, Fxprimus does not charge fees for deposits or withdrawals, although third-party fees may apply.
7. Customer Support and Educational Resources
Fxprimus offers robust customer support, available through multiple channels including live chat, email, and social media platforms. Support is accessible 24/5, with a multilingual team ready to assist clients in various languages.
The broker provides educational resources, including video tutorials and webinars, aimed at enhancing traders' knowledge and skills. While the educational offering is beneficial for beginners, it may not be as extensive for advanced traders.
8. Geographic Coverage and Restrictions
Fxprimus operates in numerous countries, providing services to traders globally. However, it does not accept clients from specific jurisdictions, including:
- Australia
- Belgium
- Iran
- Japan
- North Korea
- United States
This geographic restriction stems from regulatory requirements and local laws, ensuring compliance with international trading standards.
In conclusion, the Fxprimus broker stands out for its diverse trading options, robust regulatory framework, and commitment to client safety and education. Despite some limitations in product offerings and educational resources, it remains a viable choice for both novice and experienced traders seeking a reliable trading environment.
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Latest Reviews
FX1104904497
Singapore
The 1:1000 leverage provided by this broker FXPrimus is quite attractive to me, but I see that its regulatory license may be cloned, which I think is very dangerous.
37130
2022-12-08
FX1454603970
India
As someone who's been around the block a few times, let me tell you that if you're thinking of trading with FXPrimus, go for the Primus Pro or PrimusZERO accounts. They've got super low spreads and trading fees, but they do require a bit more upfront capital. My advice is to pick the account that matches your level of experience and risk tolerance. Trust me, you won't regret trading with FXPrimus!
Positive
2023-03-29