FXPrimus Review 2023: Scam Or Legit?

FxPrimus

$20

Min Deposit

0.0

Min Spread

2021

Foundation

+2

Broker Trusted Points

FxPrimus is an online trading platform and a multi-asset broker. It was founded in 2009 and provides trading platforms to make trading convenient. Users can trade in a range of assets, and enjoy the trading conditions that it has to offer. 

However, to know the broker in-depth and make your trading successful, we have a detailed FxPrimus review. As the brokerage firm has been operating for 13 years, it has gained a lot of experience in supporting traders globally. 

The Cyprus broker is well-known in the market. But, to look closely at its services, let’s dive in and decide whether to trade with it. As per our use of the platform, we have shared the view, which will help you. 

What is FxPrimus?

The broker is a Cyprus-based online trading platform with the motive to provide traders with the best of trading services and make trading accessible. 

The broker is operating under Primus Markets INTL Ltd. The company is registered and regulated by top government authorities. Traders can trade in forex, stocks, commodities, energies, and indices. 

Besides, it provides clients with technical, fundamental, and practical support. In addition, the broker has won various awards for its services, such as Global Forex Awards Best Asian Forex Support 2019 and others. 

FxPrimus Review 2023: Overview

 

Headquartered In  Cyprus
Founded In  2009
Regulated By CySEC, VFSC and FSCA
Minimum Deposit  $500(initial) and $100 (subsequent)
Execution Type Market Maker
Trading Platforms MetaTrader4, MetaTrader5, cTrader and WebTrader

 

FxPrimus Scam: Is it True? 

No, the platform is a safe trading platform. The broker is compliant with three regulators. Traders at the platform can have high security as the broker has regulation of the Cyprus Securities and Exchange Commission (CySEC), Vanuatu Financial Services Commission, and the Financial Sector Conduct Authority. 

Traders can get an investor compensation fund that covers 90% of deposits with a limit of $20,000 with CySEC. Besides, the broker has the following security services: 

  • Negative balance protection
  • Segregation of funds 
  • Licensed broker (CySEC 261/14), (FSCA 46675) and (VFSC 14595)

Considering the strict regulations and its secure trading environment, our findings indicate that Fx Primus is a legitimate broker. 

FxPrimus Review 2023: Available Trading Products

Traders can have various trading instruments to trade. According to our FxPrimus review, the broker offers the following markets: 

  • Forex: Traders can enjoy 45+ currency pairs
  • Equities: Offers more than 100 publicly listed shares 
  • Metals: Various metals 
  • Indices: 15 global indices with CFD option 
  • Energies: Natural gas and other energies to trade
  • Futures: Various assets to trade in future contract

Trading Platforms 

Based on our findings from the FxPrimus review 2023, the broker offers the best trading platforms. Be it beginners or experienced traders, everyone can use the platform as its features and services are user-friendly. 

Below are the trading platforms that traders can enjoy: 

  • MetaTrader4 
  • MetaTrader5 
  • cTrader
  • WebTrader

The four trading platforms are popular among traders and are used frequently for successful trading experiences. To understand them better let’s analyse each of these platforms. 

MetaTrader4 (MT4)

MetaTrader4 is a popular forex trading platform incorporated in 2005. Since then, it has been highly used by traders online. The platform is: 

  • user-friendly 
  • an easy-to-use interface
  • Traders can have various tools, services, and features to support their trading. 

MetaTrader5 (MT5)

MetaTrader5 is the next level of MT4 as it has advanced features. MetaTrader5 offers its clients with: 

  • Services like automated trading, algorithmic trading, and expert advisors. 
  • The features are improved, more advanced, and higher in number than MetaTrader4, which is for basic forex traders. 
  • The market available is also more with MT5. 

cTrader

cTrader is another significant trading platform of the market. Traders can enjoy:

  • Various timeframes, 
  • Indicators
  • Tools 
  • analyze markets and make the right trading decisions.

WebTrader 

WebTrader is a web-based browser to online trade. Users can directly have: 

  •  A web browser to trade without any issue 
  •  It makes trading easier

 

Features MetaTrader4 MetaTrader5 cTrader
Language  MQL4 MQL5 C#
Launched In  2005 2010 2011
Designed By  Metaquotes Metaquotes Spotware
Time Frames  9 21 26
Chart Types Line, bar, and candlestick charts Line, Bar, and Candlestick chart Line, Bar, and Candlestick chart
Instruments Stock, forex, indices, precious metals  Stock, forex, indices, precious metals and cryptos Stock, forex, indices, precious metals, cryptos and additional securities
Default Interface 4 default charts 4 default charts 1 default chart

FxPrimus Mobile App 

Fx Primus has provided its clients with the facility of mobile apps. They can download the app on iOS and Android mobile devices and enjoy trading within a few clicks. 

However, trades should know it provides an MT4, MT5, and cTrader trading platform to operate. 

A good chance to make trading more convenient to access the market anywhere. 

Charges, Fees, and Pricing 

Traders can easily trade with it as it does not have any deposit fee. Other than this, the platform’s withdrawal fees vary according to the method of payment used. 

Traders of the platform can have two commission charges at FxPrimus. The commissions are based on two alternatives. These commissions are:

One is priced in the market’s mid-section with minimum spreads of 0.3 pips with a commission of $8 per lot for total fees of $11. 

While the other commission fee is highly competitive, with a raw spread of zero pips for the commission of $5. 

The below table gives an overview of fees or charges: 

 

Deposit Fee No
Withdrawal Fees According to Payment Method
Commission Charged with average commission from $1.5
Spreads Begins with 0.0 pips

FxPrimus Leverage 

The broker offers its clients leverage facilities. Traders can use it to enhance their trading position and make good market profits. However, the risk of using leverage is also high.

At the platform, traders can use maximum leverage of 1:1000. The ratio of leverage is limits to 1:500 for pro account holders and paper trading solutions. Besides, it can also vary with the assets traded. 

Deposits and Withdrawals at FxPrimus 

Per our FxPrimus review, the broker is an excellent choice for online trading. It has the best options for traders to deposit and withdraw their funds. But how do you deposit funds at the platform? 

So, here is the quick process:

  • Traders can open their account with a broker
  • Then they can use the dashboard to get the option of deposits
  • Selecting the option, traders can enter the amount of the deposit
  • After which, they can select the payment method and deposit amount. 

The available deposit methods are: 

  • VISA
  • Union Pay
  • Ecopayz
  • Mastercard
  • Skrill
  • Bitcoin
  • Neteller
  • Fasapay

Minimum deposits for the accounts: 

  • Standard account: $500
  • Premium account: $2500
  • VIP account: $10,000

How do you withdraw funds at the platform?

Withdrawal of funds within a few steps: 

  • After account opening, traders can visit the dashboard
  • They can select the withdrawal option
  • Enter the amount of withdrawal 
  • Also, select the method of payment
  • The withdrawal request is placed 
  • After verification of broker, withdrawal is processed, which varies with the method.

The minimum withdrawal amount is $100. The payout methods are similar to deposit methods. However, withdrawals may take 2-5 business days and no withdrawal fees are charged. 

Trading Accounts at FxPrimus 

Fx Primus has types of accounts to support traders. It gives traders an introduction to the facilities  Trading accounts are a significant part of it. It provides clients with five account types to choose from. 

The accounts are tailor-made with the motive to suit all clients and portfolio types. Here are the account types available: 

 

Features PrimusCENT PrimusCLASSIC PrimusPRO PrimusZERO PrimusDEMO
Base Currency  USD USD,EUR,GBP,SGD & PLN USD,EUR,GBP,SGD & PLN USD,EUR & GBP USD,EUR & GBP
Average spread 1.5 pips  From 1.5 pips  From 0.3 pips From 0 pips  From 1.5 pips
Commission 0 0 $8(MT5) and $10(MT4) $5 0
Leverage Up To 1:1000 1:1000 MT4: 1:500

MT5: 1:1000

1:500 1:1000
Negative Balance Protection  Yes Yes Yes Yes No
Third Party Withdrawal Monitoring Yes Yes Yes Yes No
Video Tutorials Yes Yes Yes Yes Yes
Educational Material Yes Yes Yes Yes Yes
Live Webinars Yes Yes Yes Yes Yes
MT4 Yes Yes Yes Yes Yes
MT5 No Yes Yes No No
cTrader No Yes No No No
Minimum Deposits (USD) $15 $15 $500 $1000 $0
Live Chat Support Yes Yes Yes Yes Yes
Social platform support Yes Yes Yes Yes Yes
Maximum Open Positions 300 300 300 300 300
Copy Trading No Yes No No No

How to open an account with FxPrimus? 

Opening an account with any financial broker remains the same with one or two changes. At Fx Primus, traders can open their account following the process given below: 

 

  • The first step is to visit the website –www.fxprimus.com and then click on the ‘Trade Now’ tab. 

 

  • After that, click on the tab, and it will open a new video for you. The window contains a registration form for the trader. 

 

  • In registration, first, choose the account type, enter your name, email address and username, and also country of residence. Then enter the contact number. Lastly, the trader requires you to provide a password. 

 

  • Once registered, the trader must provide a profile or financial background to verify the trader. Educational level, purpose and nature of trading, employment status, estimated net worth, estimated annual income, and estimated investment amount. 

 

  • After completing this, traders must also provide KYC/AML to get the verification done. One verified user can select the account type and begin trading.

Fx Primus Bonus and Promotions

FxPrimus review is into every detail of the broker. Therefore, we have also reviewed the bonus or promotion which is available for the traders. It provides clients with a 25% deposit bonus through the Vanuatu subsidiary. 

The bonus is accessible from the back office after registration because it is not listed publicly. But traders should understand the terms of bonus because CySEC does not allow any bonus offering as per the rule. 

Research Tools at FxPrimus 

Fx Primus offers its clients internal and external resources to trade. These educational tools are to support clients in favorable trades. 

There are articles, updates, news, and calculators to research the financial markets and make successful trades. 

Pros and Cons

Traders at the platform can have the following advantages and disadvantages:

 

Pros Cons
Regulated broker High minimum deposit for selected accounts
Easy to use
Low fees or charges
Various deposit and withdrawal methods
Mobile app
Leverage 

 

FxPrimus Customer Support 

Traders of the platform can contact or reach the customer team using the following: 

 

  • Registration address: Kolonakiou 57, Linopetra, 4103, Limassol Cyprus
  • Email address: [email protected] 
  • Contact Number: +27 105004213

Final Verdict 

FxPrimus review 2023 has assured us that it is a trustworthy trading platform. The broker is regulated by three authorities and has a license and registration to operate. 

Along with that, the services of the platform are top-notch. Traders can have easy account opening, five account types, no deposit and withdrawal fees, a leverage facility, educational support and many benefits. 

However, traders have to take care of the use of leverage and market volatility for profitable trading. A great platform to trade and make efficient trades with. 

Traders can also consider InvestFW as a good alternative for FxPrimus broker due to the range of assets, features and services.  

FAQ’s

Is FxPrimus a regulated broker?

Yes, it is a regulated broker. Three regulatory authorities make the platform secure and trustworthy. The regulatory bodies are:

  • CySEC
  • VFSC 
  • FSCA

Is FxPro Trusted?

Yes, FxPro is a trusted trading platform. Users can have to make successful trades with various tools and services. 

What type of broker is FxPrimus?

The broker is a trusted and regulated financial service provider. Traders can trust the platform to make efficient trades. 

How do I withdraw money from FxPrimus?

Traders can withdraw their funds easily. Below we have the steps to do so: 

  • After account opening, traders can visit dashboard
  • They can select the withdrawal option
  • Enter the amount of withdrawal 
  • Also select the method of payment
  • The withdrawal request is placed 
  • After verification of broker withdrawal is processed which varies with the method

Customer support at FxPrimus 

Fx Primus provides traders with the following support: 

  • Registration address: Kolonakiou 57, Linopetra, 4103, Limassol Cyprus
  • Official Website: www.fxprimus.com 
  • Email address: [email protected] 
  • Contact Number: +27 105004213

What are the trading platforms of FxPrimus?

The broker provides clients with four trading platforms given below: 

  • MetaTrader4 
  • MetaTrader5
  • cTrader
  • WebTrader

Does FxPrimus offer educational services?

The broker offers its clients various educational services. They can read articles, use calculators and have videos to learn. 

What is the maximum leverage at FxPrimus?

The maximum leverage available at the broker is 1:1000. However, it may vary for assets and accounts used by the trader. 

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