FXPrimus Broker Review

FxPrimus

$20

Min Deposit

0.0

Min Spread

2021

Foundation

+2

Broker Trusted Points

There are several brokers in the financial market that work to enhance the trading standards of traders. The financial service provider is the central system of the market without which no trade can proceed. Thus, the choice of the firm plays a vital role in the trading journey of investors. We have seen many traders searching and asking about the FXPRIMUS. This review is dedicated to the common questions raised by you related to this brokerage firm. The performance of the broker will leave you flabbergasted. 

About FXPRIMUS

It is one of the oldest firms established in the year 2009 but equally out of place and redundant. However, there are many areas which the broker should improve. The official website of the broker does not have plenty of information, which negates the opportunity to a trader. It is not user friendly. Also, it lacks some information, such as leverage value and others. Thus, it makes it extremely hard for novice traders as well as experienced ones to find the required information on the website. 

Primus Global Ltd, Primus Markets INTL Limited and Primus Africa (Pty) Ltd all these websites use the single trading name, Primus. Hence, they sometimes create confusion for traders and boarding on them can be perilous. 

Is FXPRIMUS scam or safe?

FXPRIMUS is just a trading name which is used by three individual websites. Any single authority does not regulate them. Which creates doubt. Why so many bodies have been assigned to regulate it? There must be some scam worthy thing because there is no smoke without fire. Also, UI and UX is out of the box and invites suspicious activity. FXPRIMUS scam seems true. 

Markets available

The broker does not allow trading on all markets assets. The choice in each market is limited. Thus, it directly affects the portfolio size of the trader. The larger the trading portfolio lower is the risk involved. 

Leverage

There is no information on the broker’s official website related to its level of leverage provided on trade. It is basic and essential information which should be mentioned on the site like other brokerage firms such as T1markets, Global TradeATF and several others. 

Minimum deposit

The minimum deposit to open an account with the broker is very high. It is $100. Many brokers in the financial market provide trading on $0 amounts without compromising on any features and trading tools. The broker should think over this and try to make their platform accessible to general traders (who may not have such a high amount to open trade). 

Additional tools

The broker does not offer any additional tools other than those which come along with MetaTrader 4. 

Types of trading account

FXPRIMUS offers investors three different accounts. Traders can choose the one which suits his/her trading needs and level of experience. 

1) The standard account 

 The broker’s standard account include: 

  1. The high deposit charge $500 
  2. Leverage and spread not mentioned
  3. Trading on conventional Meta Trader 4, missing MetaTrader5. Thus a thumbs down.
  4. Customer support 24/5 

2) The Premium Account

  The broker’s premium account include: 

  1. The high deposit charge $2,500 
  2. Leverage and spread not mentioned
  3. Trading on conventional Meta Trader 4
  4. Customer support 24/5 

3) The VIP Account

  The broker’s VIP account include: 

  1. The high deposit charge $10000
  2. Leverage and spread not mentioned
  3. Trading on conventional Meta Trader 4
  4. Customer support 24/5 

The deposit charges for each account are very high and above the reach of normal traders. The charges of a standard account are five times greater than that of some famous firms such as ROinvesting which allows trading at $100. Even if we talk about a VIP account, the experienced trader will also find it hard to pay the huge amount of $10000. 

Deposit and withdrawal

The broker does not boast of many options for deposits and withdrawal. It takes a long time for withdrawing the funds. 

 Trading platform

The traders allow trading through conventional Meta Trader 4. The financial world has moved toward advanced MetaTrader5, and the broker is still in its comfort zone, providing a basic trading platform. It is high time the broker should try to employ an advanced platform. Else, you should move to a better broker. 

Educational hub

The broker has poor and out of place education material, which disheartens market players. But, these courses are present in a single language. Thus, for other traders, these courses are of no value. You don’t find news. So, you cannot remain updated. 

Research tools

By looking at the broker’s official website, we can see that it does not provide any research tools. If you are the one who requires these tools, then you will have to choose other financial service providers over FXPRIMUS. So, it’s a big no-no. 

Customer support service

The broker has an inefficient customer support team. You can’t connect them through email, phone and live chat option because of disappointing services. Also, you can’t contact them on weekdays. Hence, it is marred with disappointment. 

Cons of FXPRIMUS

  1. The broker does not accept foreign exchange market traders from the United States.
  2. The broker does not accept clients from the United States
  3. Does not offer MetaTrader 5  
  4. Very few tradable assets 
  5. It is not listed with any stock exchange 
  6. The currency pairs fees are relatively high 
  7. Good range of tools
  8. Relatively limited analysis

The Bottom Line 

The broker has missed various important tools and features which other firms provide. Also, the website of the broker needs several changes as it is not user friendly. Further, the broker should curtail its trading charges as they are five to six times higher than firms like ROinvesting and 101investing and others. These slight changes can make the broker worth to invest with. The phrase “old is gold” does apply on FXPrimus, instead, it is worst. . You need to upgrade your techniques and features to sustain in the fastest-changing world. 

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Frequently asked questions 

 What is the minimum deposit of  FXPRIMUS?

The minimum deposit accepted by the financial service provider to open a trade is $100, which is quite high. 

 Which trading platforms does the broker provide?

The trading platforms available with the broker is MetaTrader 4, which is disappointing considering, MT5 is way superior. 

 What are the cons of selecting the FXPRIMUS? 

Some cons of the firm are:

  1. The broker does not accept clients from the United States 
  2. Does not offer MetaTrader 5  
  3. Limited tradable assets 
  4. It is not listed with any stock exchange 
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