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FXPRIMUS Review: Forex Broker Review

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FXPRIMUS

FXPRIMUS is a Cyprus based Forex broker firm which is licensed and regulated by the CySEC (Cyprus Securities and Exchange Commission). This broker was founded by the retail traders and a very professional trader’s team managing this firm, all around the world in more than 200 countries this broker has customers. In addition to Forex, traders can trade spot metals, indices, global equities and other CFDs all within the MetaTrader 4 platform. In addition this broker uses MetaTrader 4 platform by which traders can trade global equities, indices, spot metals and other type of CFDs as well as with the Forex. In this FXPRIMUS Review, you will learn about the FXPRIMUS advantages and disadvantages, FXPRIMUS Trading Platform, FXPRIMUS Sign Up process, FXPRIMUS Accounts and many more.

Do yo know?

This forex broker received the awards of Best Trade Execution 2013 and STP Broker Asia 2013 which was given by the Global Banking & Finance Review and from the MENA they received Most Trusted Broker Award in 2015.

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FXPRIMUS Review contains

1. Overview 2. FXPRIMUS Review 3. 3. FXPRIMUS Details
4. Pros of FXPRIMUS 5. Cons of FXPRIMUS 6. FXPRIMUS History and Background
7. Features of FXPRIMUS 8. Screenshot 9. Spreads and Leverage of FXPRIMUS
10. Platforms & Services 11. Accounts of FXPRIMUS 12. Demo Account
13. Deposits and Withdrawals Methods 14. Bonuses of FXPRIMUS 15. Videos of FXPRIMUS
16. Safety Features 17. License & Registrations 18. Education Program
19. Customer Support of FXPRIMUS 20. Market News & Hot Topics 21. Final Verdict of FXPRIMUS Review

Let’s begin:

FXPRIMUS Review

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Now take a look to the:

FXPRIMUS Details

Broker Name FXPRIMUS
Mother Company FxPrimus Europe (CY) Ltd
Broker Type Forex Broker
Headquarter Cyprus
Founded 1999
Licenses & Regulations CySEC, MiFID, ICF, FCA, CNMV, HFSA, CNB, ACPR, BaFin, CMC, CSSF, CONSOB, FSA, KNF, NBS
Based Country Cyprus
Trusted Broker Fully Trusted
Trading Platfrom MetaTrader4
Levarage High as 1:500
Other Assets for Trading Available
Hedging & Scalping Allowed
Demo Account Available
Bonus Available
Minimum Deposit Amount $100
Customer Support Available for 24/7 via Email, Phone Call and Live Chat
Platform Supports Web, Desktop & Mobile Devices
USA Customer Allowed No
Allowed Countries All Countries Except Afghanistan, Cote d’Ivoire, Cuba, Iran, Libya, Myanmar, North Korea, Sudan, Puerto Rico, USA, Australia, Syria, Japan, and Ecuador.
Official Website Click the Below Button to Visit FXPRIMUS Official Website

 

So, what are the pros and cons of this broker?

Pros of FXPRIMUS

This forex broker provided the following advantages to the customers:

  • They have no dealing desk because this is an STP broker
  • They have no restrictions for hedging
  • With Forex they offer other assets for trading
  • This broker has low spreads
  • They are using MetaTrader 4 trading platform
  • This broker offers a high Leverage of 1:500
  • They are regulated by the multiple financial services authorities like the FSC of Mauritius and CySEC of Cyprus
  • The minimum deposit amount is low considering other available brokers of the market
  • This broker provides 24 hours Customer Support which is efficient
  • They provide real-time market news for free
  • They also have Tight Spreads
  • Providing free Demo Account for new customers
  • Customers have the Sirix Social Trading here

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Cons of FXPRIMUS

  • There is actually no real cons of this broker because it is very hard to find any fault of this broker for their solid and trustworthy trading process and platform.
  • This broker is not accepting customers from the Afghanistan, Cote d’Ivoire, Cuba, Iran, Libya, Myanmar, North Korea, Sudan, Puerto Rico, USA, Australia, Syria, Japan, and Ecuador.

Do you know the background of this broker?

FXPRIMUS History and Background

If you are a Forex trader then you may trade with a broker, do you have faith in them? Among the few brokers of this industry FXPRIMUS is one of them which has a very high standard regarding the operations, efficiency, security, safety and most importantly transparent to their customers. In 1999 former retail and hedge trader raised funds to establish this broker in the intention to assists individual and corporate customers. Then they set up some data centers which is the backbone of this firm in Singapore, Hong Kong, Amsterdam and New York.

At that time the STP or Straight Through Processing of this firm was so difficult for them to combine with all the major liquidity providers. STP allows the traders to implement automated trading strategies, scalping, EAs, hedging and many more, without any kind of re-quotes or slippage threat except few under exceptional releases like Non-Farm Payrolls. The trading desk conflicts of back-office are also eliminates by the STP.

For the safety of customers this FX broker segregates all the deposits of the customers and operating the funds from an offshore bank name Barclays Bank. They had several national protection funds for the customers, in the case of any capital issues for another liquidity layer this fund was kicked. Now in all around the world with the regulatory authorities they have a good relationship.

Their headquarter is in Cyprus and approved by the CySEC though CySEC is not the only one regulatory authority who give this broker approval. Across the world this broker is licensed and regulated by more than a dozen regulatory authorities, but the USA certainly is not one of them. This broker has abundance major and minor currency pairs with the indices, commodities via CFDs, stocks and other instruments.

With more than 30 languages this FX broker platform infrastructure MetaTrader 4 platform nicely for the customers. A trader can have bilingual customer service assistance 24/7 during the market hours which is supported by the web, desktop, and mobile.  Traders can be benefited by the tight spreads of this broker, no matter fixed or variable, and can have a leverage up to 500:1 which is very high. As an example, for the most pairings the spreads can be reduced to a few tenths by the ECN pricing option of this broker.

If necessary traders can have one on one assistance for training and support. There is an advanced set of beneficial tools in this broker platform which contains alert tools, Sirix Social Trading, software for pattern recognition and other automated features for trading. Their security level is very high considerable as top level and will go with their motto “The Safest Place to Trade” perfectly.

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Here is the best part:

Features of FXPRIMUS

These are the features and reasons that why you should join this forex broker:

  • By an experienced retail and hedge traders this broker was founded in 1999;
  • Their headquartered located in Cyprus and regulated directly by the CySEC direct regulatory with more than a dozen other regulatory authorities;
  • Now customers deposits are segregated safely and operating the funds from the offshore bank name Tier-One bank and by national investor compensation insurance schemes providing the additional protection to the traders;
  • Traders have options for ECN or traditional type pricing with the individual, joint or corporate account;
  • Free Demo Account is provided to the new clients;
  • Traders can make deposits and withdraw money by World Wide Bank Wire Transfer, major debit or credit cards, MasterCards, bank Skrill, and many other online payment processing services;
  • Minimum deposit amount is $100 or equivalent by the other supported currencies;
  • Trading can be possible in standard, mini, and micro lots;
  • With up to 500:1 leverage you can have a wide range of currency pairs as well as stocks, indices, commodities with supplemented CFDs;
  • Fixed spread pricing and tight variable is ensures by the STP process;
  • With the ECN Premier set up they provide tight spreads, there is no threat of re-quotes or slippage except the events of high volume;
  • MetaTrader4 trading platform which is supported web, desktop, and mobile;
  • With the other automated trading options traders have the Sirix Social Trading system;
  • Trading tools and training materials like pattern recognition software, MYFX console, alert tools, daily commentary, EAs and many more available;
  • Customers have the multi-lingual customer support “24/7” during the market hours.

Screenshot

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What leverage do you have in this broker?

Spreads and Leverage of FXPRIMUS

This broker is offering two types of spread pricing and they are Premier and Variable ECN. As an example for the major pairings ECN Premier produce spread of less than one pip while for the EUR pairings variable can produce 2 to 2.5 pips. By the account balance and type leverage varies which can be low as 1:1 or can be high as 500:1, but according to the selected leverage the margin requirements also varies. All the prices are executable and that is ensured by the major liquidity providers and STP.

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Platforms are always important for a legit broker, don’t forget to check out.

Platforms & Services

This forex broker decided to use MetaTrader 4 platform for their broker which is very popular and supported in web, desktop, and mobile devices. By this platform you can integrate Sirix Social Trading easily and can customize the console formats. For increasing the reliability and speed of execution they combine MT4 platform with the global processing infrastructure. For the customers’ security and for their mind peace this platform encrypts with 128-bit SSL technology to protect all the personal and transitional data of the traders.

Let’s see few fact points of this broker platform:

  • MT4 is available for Windows & Mac including iPhone, iPad, Android, & Web Browser
  • With the VPS service faster and Reliable execution
  • For skilled Traders and investors they provide FXPRIMUS PAMM
  • With advanced FIX protocol this broker platform provide FXPRIMUS Platinum API

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Ah! Here is the account types:

Accounts of FXPRIMUS

This forex broker offers a single account with Micro, Mini, and Standard lot and as the individual, joint or corporate account this can be set up. This broker also offers self-directed and managed account for the traders. These accounts have the ECN Premier or Variable spreads and the minimum deposit amount is same for all account which is $100 or equivalent.

ECN Premier Account charges 1 pip which is approximately $10, a mini lot charges 0.10 pips or $1 and a micro lot charges 0.01 pips. At once by the MAM system of Money Managers traders can manage unlimited accounts. Traders can open unlimited accounts as their wish but the usernames must be different for every account. Scalping and hedging are also allowed on this platform. This broker has the Demo Account opportunity for the new customers.

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Is this broker has demo account?

Demo Account

We are pleased to see that this broker has the Demo Account for their new clients to help them learn about this broker platform and about Forex trading as well as other trading. The validity of this Demo Account is 30 days from the registration date. Trader almost has all the features of live account here for practicing before start trading with real money.

Now, go through the:

Deposits and Withdrawals Methods

This broker’s deposit and withdrawal process is very easy because no matter where you from, you can transfer money for depositing and withdrawing by using World Wide Bank Wire Transfer, all major debit and credit cards, Skrill, SAFECAHRGE, TrustPay, YuuPay, Neteller, fasapay, UnionPay, MasterCards, Visa Cards, ecoPayz and even BitCoin. To make this process easier in your convenience this broker has been installed a variety of local payment services.

You can also apply for a prepaid MasterCard from this broker which will help you to trade more swiftly. For the faster withdrawal process you need to up to date all the personal document and account information always. The most impressive thing of this Forex broker is that they will not charge any fees for your deposit and withdrawals.

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Bonuses! Exciting!

Bonuses of FXPRIMUS

FXPRIMUS has very impressive bonus offer for all type of traders registered in this platform. If any trader switching their existing broker to this forex broker they receive a thank you bonus from this broker and by this bonus traders have $6,000 trading funds for free. But you should remember that the bonus offer can be stopped or canceled at any time by the broker without any reason and it’s their legitimate right.

This forex broker is the official partner of Manchester City FC and they celebrate this partnership, during the celebration this broker starts various contents for the traders. By participating and winning in these contests traders can have $3,000 trading fund for free.

Currently they are offering an opportunity to the traders who are depositing their trading accounts with debit cards, credit cards or with bank wire transfer. Without extra charges all deposits by these options are accepted, it is one kind of bonus for the traders. This broker also reimbursing all the transaction charges of Global Collect and Allied Wallet who are the payment processors of credit cards and to the deposit amount this reimbursement applied automatically.

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Videos of FXPRIMUS

What about the security?

Safety Features

  • FXPRIMUS provides third Party oversees client withdrawals by the Boudica Client Trust
  • Protects negative balance
  • Within the EU and globally licensed and registered
  • For safety purpose this broker won the Most Trusted Broker Award in 2015 from MENA
  • Maintaining a strict risk management systems to protect from volatility

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Most important part:

License & Registrations

FXPRIMUS is licensed and regulated by the CySEC (Cyprus Securities and Exchange Commission), MiFID (Markets in Financial Instruments Directive), ICF (Investment Climate Facility for Africa). They also registered with the follow authorities of all over the world:

  • FCA (Financial Conduct Authority)
  • CNMV (Comisión Nacional del Mercado de Valores)
  • HFSA (Hungarian Financial Supervisory Authority)
  • CNB (Czech National Bank)
  • ACPR (Autorité de Contrôle Prudentiel et de Résolution)
  • BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht)
  • CMC (UK-based financial derivatives dealer)
  • CSSF (Commission de Surveillance du Secteur Financier)
  • CONSOB (Commissione Nazionale per le Società e la Borsa)
  • FSA (Financial Services Authority)
  • KNF (Polish Financial Supervision Authority)
  • NBS (Národná Banka Slovenska)

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Wow! This broker offering education program also!

Education Program

For the educational purpose to teach the traders this broker brings together the superstars of Forex industry who are the Forex trading experts, communication experts, future trends and macroeconomic analysis. On the various number of topics they are giving textual lessons and live webinars are also provided in every week.

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Is the customer service of this broker efficient?

Customer Support of FXPRIMUS

During the market hours 24/7 customers can contact the customer support of this broker via direct phone, live chat or email regarding any kind of issues. Within a minute most of the contacts or calls are handled professionally. This customer support team are able to communicate in multiple languages, the website itself has 8 different languages and the MT4 platform has 30 languages. For every type of traders they have support materials like educational materials, daily commentary, alert services, training videos and a variety of legit signals to fulfill your daily needs for trading. If you want you can take the one-on-one assistance solve your problem and to learn.

Always up to date:

Market News & Hot Topics

Market News and Hot Topics are the two very impressive feature of this broker’s website. In the Market News Section you will find all the important news of this market like what effects the current market, how the market condition will change, what is happening in the market etc. In the Hot Topic Section you will find the viral and trending news of this market. We think these two features are great because by these two features traders can always update themselves with the current market and can re-arrange their trading strategy.

The conclusion of FXPRIMUS review:

Final Verdict of FXPRIMUS Review

Under the firm FxPrimus Europe (CY) Ltd by the name FXPRIMUS this broker is trading which is regulated by CySEC and their license no is 261/14. This broker always gives the efforts to give the traders quick, smooth trading experience with reliability and security what is hard to find in this market. This broker is the model of trustworthiness and transparency for all the available brokers in the market. For many reasons for many years this broker is the leader in the Forex industry and they really want to stay on the top by setting the performance bar higher for other competitors. We are concluding this review by agreeing with their motto that, FXPRIMUS is “The Safest Place to Trade”.

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