FXPrimus Review

FXPrimus
100% on all deposits up to $10,000
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Overview

To open a live account at FXPrimus you need to deposit at least $100, which is quite low compared to other brokers. Alternatively, you can practice trading with FXPrimus on… more

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Details

Broker FXPrimus
Website URL www.fxprimus.com
Founded 2009
Headquarters #25, Kolonakiou Street Zavos Kolonakiou Center – Suite 102 CY-4103 Limassol, Cyprus
Support Number +883510080975
Support Types Phone, email: [email protected], Live chat, faq, contact form on website
Languages English, Chinese, Malaysian, Vietnamese, Thai, Arabic, Spanish, Polish, Portuguese
Trading Platform MT4 for Windows, MT4 for Mac, MT4 for Mobile, PAMM, Platinum API, VPS Service
Minimum 1st Deposit $100
Minimum Account Size $1
Minimum Trade Amount 0.01 lot
Maximum Trade Amount 80 lots
Bonus 100% on all deposits up to $10,000
Payout Fast payouts
Leverage 1:1 up to 1:1000
Spread from as low as 0.1 pips, depending on account type
Free Demo Account Open Demo
Regulated Yes
Regulation Primus Global Ltd, regulated by CySEC, with licence no. 261/14. Primus Markets INTL Limited, regulated by VFSC, with registration no. 14595. Primus Africa (Pty) Ltd, regulated by FSCA, with licence no. 46675.
Account Types FXPRIMUS DEMO account, FXPRIMUS Variable Account, FXPRIMUS ECN Premium Account
Deposit Methods Bank wire transfer, local wire transfer, Visa, Mastercard American Express, Neteller, Skrill, Giropay, Itau, fasapay, UnionPay, ecoPayz, bitpay
Withdrawal Methods Bank wire transfer, local wire transfer, Visa, Mastercard American Express, Neteller, Skrill, Giropay, Itau, fasapay, UnionPay, ecoPayz, bitpay
Trading Methods Scalping, Hedging
Number of Assets 120+
Expiry Times FXPRIMUS offers Future contracts on Precious metals, Indices and Commodities. Trade with one of the various instruments that future contracts are offered on and watch the instrument mature on the expiration dates throughout the year.
Types of Assets energies, equities, forex, indices, precious metals, futures expirations, cryptocurrencies
Option Types futures expirations
Trading Currency 43 forex pairs, including major, minor and exotic pairs as well as cryptocurrency pairs
Account Currency USD, EUR, SGD, GBP, PLN, HUF, MYR, IDR, VND, THB, CNY
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 7.5

Full Review

To open a live account at FXPrimus you need to deposit at least $100, which is quite low compared to other brokers. Alternatively, you can practice trading with FXPrimus on their free demo account.

FXPrimus is licensed and regulated by CySEC under licence number 261/14. FXPrimus protects client’s money by using a separate bank account for their funds at a tier-1 bank. FXPrimus is founded in 2009 and is based in Cyprus.

Before we go in to the more detailed aspects of FXPrimus, it might be advisable to open their website in a separate browser tab by clicking the button below. This way you can view the spreads, costs, trading platforms and trading features directly on their website, whilst reading this FXPrimus review.

Visit FXPrimus Website

FXPrimus Spreads and Commissions

Like most brokers, FXPrimus makes money trough transaction costs on spread, the difference between buy-and sell price of an asset or financial instrument.

The spread table below shows a comparison between the minimum spreads as shown on the FXPrimus website, compared to two other famous brokers: City Index and Forex.com.

Forex PairFXPrimusCity IndexForex.com
EUR/USD0.5 pips0.7 pips1.0 pips
GBP/USD1.0 pips1.7 pips0.9 pips
USD/JPY0.6 pips0.6 pips1.1 pips
AUD/USD1.1 pips0.6 pips1.2 pips
USD/CHF1.1 pips2.3 pips1.1 pips
USD/CAD1.1 pips0.5 pips0.9 pips
NZD/USD1.3 pips2.8 pips2.3 pips
EUR/GBP1.3 pips0.5 pips1.3 pips

As you can see, the minimum spread on trading EUR/USD with FXPrimus is just 0.5 pips, which is relatively low compared to the average EUR/USD spread of 0.7 pips. You can see exactly how much you save by trading at FXPrimus versus other brokers by visiting their website.

What does it cost to trade 1 lot EUR/USD at FXPrimus?

If you would want to trade one standard lot of EUR/USD at FXPrimus and sell it the next day against the same price, you would likely pay about $13,50. This is cheap compared to most brokers, but at let’s say AvaTrade, you would only pay $7 for the same trade.

What can you trade at FXPrimus?

FXPrimus offers more than 125 different assets to trade on, which includes 43 forex pairs. In the table below you can see exactly what you can trade at FXPrmius, and for comparison reasons, what you can trade at AvaTrade.

AssetsFXPrimusAvaTrade
Amount of FX Pairs Offered4359
Major Currency PairsYesYes
Minor Currency PairsYesYes
Exotic Currency PairsYesYes
CryptocurrenciesNoYes
Commodity CFDs
Amount of Commodities Offered016
Precious MetalsYesYes
Energy MarketsYesYes
Agricultural MarketsNoYes
Index and Share CFDs
Amount of CFDs Offered6099
UK SharesYesYes
US SharesYesYes
German SharesNoYes
Japanese SharesNoYes

AvaTrade Review

FXPrimus Trading Platforms and Apps

FXPrimus offers trading on the most popular trading platform on the world: Meta Trader 4. To view and compare other MT4 Brokers, you can see our MT4 Broker Comparison Page. The combination of downloadable platforms for both Mac and Windows allows traders to use whatever device they want to trade the financial markets with.

FXPrimus also offers mobile apps for both Android and iOS, which you can use to track the markets and trade on-the-go.

View FXPrimus Account Types

Executing Trades at FXPrimus

FXPrimus allows you to trade from just 0.01 lot. The minimum position to be opened depends on your chosen account type. FXPrimus allows you to place a maximum order or open a maximum position of 80 lots. As FXPrimus offers ECN and STP order execution, you can expect tight, low spreads and more transparency about the transaction fees you pay to place trades.

As market maker FXPrimus has a very low minimum deposit amount of just $100 compared to most ECN brokers. Market makers usually have a lower minimum deposit amount, lower minimum trade sizes and charge no commissions on trades.

As a nice bonus, FXPrimus is one of the few brokers that don’t have re quotes. So, you don’t have to worry about slippage (your orders being executed at a different price than you placed the order at).

Like most brokers, the margin requirements depend on the trader, chosen account type and financial instrument(s) traded.

You can fund your FXPrimus account by bank wire transfer, credit card, Payoneer or Neteller.

FXPrimus Customer Service

FXPrimus customer service is available in a lot of different languages including: English, Spanish, Indonesian, Chinese, Thai, Vietnamese, Hungarian and Malaysian.

FXPrimus has an AAA-rating for it’s client service and it is available by live chat, phone and email.

What you need to open an account at FXPrimus

As FXPrimus is regulated by CySEC and MiFID, every new client has to under go a KYC process for compliance reasons. You need to know the risks trading the financial markets and once opening your FXPrimus account, the following documents can be required:

– A color scanned copy of your passport, driver’s license or national ID card.
– A recent utility bill or bank statement not older than 3 month containing your address.

You will also need to answer a few basic compliance questions to show how much trading experience you got. Please note that opening an account at FXPrimus might take up to 10 minutes of your time.

Although you can use the FXPrimus platform straight away, it might take some time before you can place trades. When you comply by all requirements, which can take several days, your able to place real money trades.

To start the process of opening a FXPrimus account you can visit their website by clicking here.

Visit FXPrimus Website

Screenshots

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Pros

  • Low minimum deposit of just $100 required to open account
  • Spreads from as low as 0.1 pips
  • MT4 compatible
  • Mobile trading app available

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Decleration:
I hereby declare this review to based on my own experience trading with this broker and I did not reseve compensation in any way submitting this review

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