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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

FXPRIMUS

Cyprus|5-10 years| Benchmark AA|
Market Making(MM)|White label MT4|Regional Brokers|South Africa Financial Service Corporate Expired|Suspicious Overrun|High potential risk|Offshore Regulated|

https://www.fxprimus.com

Website

Rating Index

Benchmark

Benchmark

AA

Average transaction speed (ms)

494.2

MT4/5

White Label

PrimusMarkets-Live-4

United Kingdom
MT4
7

Influence

A

Influence index NO.1

France 6.22
The WikiFX Score of this broker is reduced because of too many complaints!

Benchmark

Speed:A

Slippage:AAA

Cost:AAA

Disconnected:AA

Rollover:C

MT4/5 Identification

MT4/5 Identification

White Label

7
Server Name
PrimusMarkets-Live-4 MT4
Server Location United Kingdom

Influence

Influence

A

Influence index NO.1

France 6.22

Surpassed 24.16% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

support@fxprimus.com
https://www.fxprimus.com
Govant Building, BP 1276, Port Vila, Vanuatu.
https://www.facebook.com/FXPRIMUSbroker

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

MY SCM
2020-01-01

Broker Information

More

Check whenever you want

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Warning: Low score, please stay away! 5
Previous Detection : 2024-05-18
  • The WikiFX cloud system has verified this broker has way too many complaints, and it is in the WikiFX complaint blacklist. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 46 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

FXPRIMUS · Benchmark
Average transaction speed(ms)
494.2
The highest transaction speed(ms)
406 Poor
The highest speed of opening positions(ms)
406 Poor
The highest speed of closing position(ms)
406 Poor
The lowest speed of opening positions(ms)
609 Great
The lowest speed of closing position(ms)
610 Great
Ranking: 46 / 134
Test user 123
Orders 2,187
Ocuppied margin $232,044 USD
Data Source WikiFX Data provide
Updated: 2024-05-17 01:05:SS

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Pyramid scheme complaint
Expose

    Total Margin Trend

    • VPS Region
    • User
    • Products
    • Closing time
    • HoChiMinh
    • 662***
    • USDJPYx
    • 05-08 20:47:42
    • Singapore
    • 877***
    • USDJPYx
    • 05-08 20:47:08
    • Washington
    • 777***
    • USDJPYx
    • 05-07 16:30:42

    Stop Out

    1.72%

    Stop Out Symbol Distribution

    6 months

    Sources

    FXPRIMUS · Company Summary

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    General Information

    FXPRIMUS Review Summary in 10 Points
    Founded 2009
    Registered Country/Region Cyprus
    Regulation CySEC
    Market Instruments Forex, Metals, Energies, Equities, Indices, Futures and CFD Cryptocurrencies
    Demo Account Available
    Leverage 1:1000
    EUR/USD Spread From 0 pips
    Trading Platforms MT4, MT5, cTrader, WebTrader
    Minimum deposit $15
    Customer Support 24/5 live chat, email

    What is FXPRIMUS?

    FXPRIMUS is a CySEC-regulated retail forex and CFD broker, founded in 2009 and headquartered in Cyprus. FXPRIMUS offers trading on a range of financial instruments including Forex, Metals, Energies, Equities, and Indices, different account types with varying minimum deposits and leverages, and multiple trading platform choices of MT4, MT5, cTrader, and WebTrader.

    FXPRIMUS website

    Pros & Cons

    Pros Cons
    • Regulated by CYSEC • Clients from Australia, Belgium, Iran, Japan, North Korea and USA are not accepted
    • High-level protection measures for clients • Higher minimum deposit for certain account types
    • Wide range of market instruments • Limited copy trading availability
    • Low minimum deposit
    • No deposit or withdrawal fees
    • Competitive spreads and commissions
    • Various deposit and withdrawal methods
    • Strong customer service support
    • Comprehensive trading tools and educational resources

    Overall, FXPRIMUS appears to be a legitimate and reliable broker with strong regulatory oversight and high-level protection measures. They offer a wide range of trading instruments and account types, as well as various trading platforms and educational resources.

    FXPRIMUS Alternative Brokers

      There are many alternative brokers to FXPRIMUS depending on the specific needs and preferences of the trader. Some popular options include:

      • FXCM - a well-established broker with a good reputation and comprehensive trading tools;

      • FxPro - offers competitive pricing and advanced trading platforms;

      • Exness - has a user-friendly platform and low minimum deposits.

    Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

    Is FXPRIMUS Safe or Scam?

    FXPRIMUS is a legitimate online broker that is regulated by the Cyprus Securities and Exchange Commission (CySEC). It is also a member of the Investor Compensation Fund (ICF) in Cyprus, which provides protection to clients in the event of the company's insolvency. Overall, FXPRIMUS appears to be a reputable broker.

    How are you protected?

    FXPRIMUS places a strong emphasis on client protection measures. It offers Negative Balance Protection, which means that clients will never lose more than their account balance. Additionally, FXPRIMUS uses top-tier liquidity providers, ensuring fast and reliable execution of trades. The broker's funds are audited by a third-party auditor to ensure transparency, and client funds are held in segregated accounts, separate from the broker's operating funds. These measures help to ensure that FXPRIMUS clients are protected from financial fraud and malpractice.

    protection measures

    Our Conclusion on FXPRIMUS Reliability:

    Based on the information provided, FXPRIMUS appears to have strong protection measures in place for their clients, including regulation by CYSEC, negative balance protection, top-tier liquidity, and audit and segregated accounts. These measures provide a level of assurance that FXPRIMUS is committed to the security of its clients' funds. Therefore, it can be concluded that FXPRIMUS is a trustworthy broker for traders.

    Market Instruments

    FXPRIMUS offers a diverse range of market instruments for its clients to trade. In addition to forex pairs, clients can also trade metals such as gold and silver, as well as energies such as oil and natural gas. The broker also offers equities, indices, futures, and CFD cryptocurrencies. With such a wide range of market instruments available, clients can diversify their trading portfolios and take advantage of different market opportunities.

    Market Instruments

    Accounts

    FXPRIMUS offers three account types, Primus Classic, Primus Pro, and Primus Zero, with minimum deposits ranging from $15 to $1,000. Primus Classic accounts are the most accessible with a low minimum deposit requirement of $15, while Primus Pro and Primus Zero accounts require higher minimum deposits of $500 and $1,000, respectively. Copy trading is only available for Primus Classic accounts. FXPRIMUS also offers demo accounts for traders to practice their strategies before committing to a live account.

    account types

    Leverage

    FXPRIMUS provides varying leverage options depending on the account type and trading platform. For instance, for the Primus Classic account, clients can enjoy up to 1:1000 leverage. On the other hand, for the Primus Pro account, leverage is up to 1:500 on the MT4 platform and up to 1:1000 on the MT5 platform. For the Primus Zero account, the maximum leverage offered is up to 1:500. It is essential to note that high leverage levels carry a higher risk of potential losses, and traders should exercise caution when using high leverage levels.

    Spreads & Commissions

    FXPRIMUS offers competitive spreads and commissions across its account types. The spreads for the Primus Classic account start from 1.5 pips with no commission, which is suitable for beginners who are looking for a commission-free trading experience. For the Primus Pro account, the spreads are variable and start from as low as 0.3 pips, but the commissions are higher at $8 on the MT5 and $10 on the MT4. For experienced traders who prefer tighter spreads, the Primus Zero account offers spread from 0 pips with a commission of $5, making it suitable for high-frequency trading strategies.

    Below is a comparison table about spreads and commissions charged by different brokers:

    Broker EUR/USD Spread Commission
    FXPRIMUS From 0.0 pips No commission on Primus Classic
    FXCM From 0.2 pips No commission on Standard
    FxPro From 0.0 pips From $4.5 on cTrader
    Exness From 0.3 pips No commission on Standard

    Note: Spreads can vary depending on market conditions and volatility.

    Trading Platforms

    FXPRIMUS offers a range of popular trading platforms to cater to the needs of different types of traders. The platform options include the widely used MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and WebTrader.

    Trading Platforms

    The MT4 and MT5 platforms are popular among traders due to their user-friendly interface, advanced charting capabilities, and customizable indicators.

    The cTrader platform is preferred by traders who seek a more transparent trading environment with direct market access (DMA) and Level II pricing.

    The WebTrader platform is a web-based platform that allows traders to access their accounts from any device with an internet connection, without the need to download or install any software.

    Trading Platforms

    Overall, FXPRIMUS' trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

    Broker Trading Platforms
    FXPRIMUS MT4, MT5, cTrader, WebTrader
    FXCM Trading Station, MT4
    FxPro MT4, MT5, cTrader
    Exness MT4, MT5, WebTerminal

    Trading tools

    FXPRIMUS offers a variety of trading tools to assist its clients. The pip calculator helps traders calculate the value of a pip for a given currency pair and position size. The margin calculator allows traders to calculate the margin required to open and hold a position. The currency converter helps traders convert one currency to another at current exchange rates.

    In addition, FXPRIMUS provides a market calendar that shows the schedule of economic events and their expected impact on the market, which can help traders make informed trading decisions. These tools can be accessed through the FXPRIMUS website or the trading platforms.

    Trading tools

    Deposits & Withdrawals

    FXPRIMUS offers various deposit and withdrawal methods, including Bank Wire, Local Transfer, Credit Cards, and e-Wallets.

    payment methods

    The minimum deposit is relatively low at $15. There are no deposit or withdrawal fees charged by FXPRIMUS, but your payment provider may charge a fee. However, it is worth noting that the minimum withdrawal amount is $100, which may be higher than some traders would prefer.

    FXPRIMUS minimum deposit vs other brokers

    FXPRIMUS Most other
    Minimum Deposit $15 $100

    The processing time for withdrawals varies depending on the payment method chosen, with Bank Wire taking 2-5 working days, Local Transfer taking 1-5 working days, and Credit Cards and e-Wallets taking up to 5 minutes.

    Deposits & Withdrawals

    FXPRIMUS Money Withdrawal

    To withdraw funds from FXPRIMUS, you can follow these steps:

    Step 1: Log in to your FXPRIMUS account and click on the “Withdrawals” option in the main menu.

    Step 2: Select the payment method you want to use for the withdrawal.

    Step 3: Enter the amount you want to withdraw and click on the “Submit” button.

    Step 4: Follow the instructions provided by the payment method you selected to complete the withdrawal process.

    Fees

    FXPRIMUS does not charge any deposit or withdrawal fees; however, payment provider fees may apply.

    The broker charges an inactivity fee of $10 per month for accounts that have been inactive for 180 days or more. This fee is charged to cover the costs of maintaining the account and providing access to trading services, educational resources, and customer support. However, the inactivity fee can be avoided by simply logging into the trading account at least once every 180 days. It's important to note that the inactivity fee is only charged on the balance of the account and not on the deposited amount.

    It also charges swap fees for holding positions overnight, and these fees vary depending on the instrument being traded.

    See the fee comparison table below:

    Broker Deposit Fee Withdrawal Fee Inactivity Fee
    FXPRIMUS Free Free $10 per month after 180 consecutive days of inactivity
    FXCM Free Free $50 per year after 12 months of inactivity
    FxPro Free Free $0 after 12 months of inactivity
    Exness Free Varies by payment method No

    It is important to note that fees and charges are subject to change, and clients should refer to the brokers websites for up-to-date information.

    Customer Service

    FXPRIMUS customer service offers various channels for clients to reach out for support. Clients can access 24/5 live chat, email, and online messaging to get in touch with customer support representatives. In addition, the broker provides support via messaging apps such as Messenger, WhatsApp, WeChat, Zalo, Line, and Telegram. This allows clients to contact customer support representatives in a convenient and accessible way.

    Furthermore, FXPRIMUS has a presence on social media platforms such as Twitter, Facebook, Instagram, YouTube, and LinkedIn. This enables clients to stay up-to-date with the latest news and updates from the broker.

    Customer Service
    Pros Cons
    • 24/5 live chat • No phone support
    • Multiple language support for live chat and email • No support on Weekends
    • Active on social media channels for customer engagement • Live chat can be slow to respond during busy periods

    Note: These pros and cons are subjective and may vary depending on the individual's experience with FXPRIMUS' customer service.

    Education

    FXPRIMUS offers a variety of educational resources for traders of all levels. These resources include video tutorials, educational materials, live webinars, and articles.

    The video tutorials cover a range of topics, from basic concepts such as trading terminology and chart analysis to more advanced topics such as risk management and trading strategies.

    The educational materials include e-books, trading guides, and other resources to help traders improve their skills and knowledge.

    The live webinars are led by experienced traders and cover a variety of topics, including market analysis, trading psychology, and risk management.

    The articles on FXPRIMUS' website cover current market news and analysis, trading strategies, and other relevant topics.

    Educational articles

    Conclusion

    In conclusion, FXPRIMUS is a regulated and reliable broker that offers a range of account types with competitive spreads and commissions. The broker provides a variety of trading platforms and trading tools to enhance clients' trading experience. Additionally, the broker offers excellent customer service and educational resources to support traders.

    Frequently Asked Questions (FAQs)

    Q 1: Is FXPRIMUS regulated?
    A 1: Yes. It is regulated by Cyprus Securities and Exchange Commission (CYSEC).
    Q 2: At FXPRIMUS, are there any regional restrictions for traders?
    A 2: Yes. FXPRIMUS does not offer its services to residents of certain countries/jurisdictions including, but not limited to, Australia, Belgium, Iran, Japan, North Korea and USA.
    Q 3: Does FXPRIMUS offer demo accounts?
    A 3: Yes.
    Q 4: Does FXPRIMUS offer the industry-standard MT4 & MT5?
    A 4: Yes. It supports MT4, MT5, cTrader, and WebTrader.
    Q 5: What is the minimum deposit for FXPRIMUS?
    A 5: The minimum initial deposit to open an account is $15.
    Q 6: Is FXPRIMUS a good broker for beginners?
    A 6: Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

    News

    FXPRIMUS's Withdrawal Woes Strike Again

    ExposureFXPRIMUS's Withdrawal Woes Strike Again

    2023-11-30 17:03

    Amidst the labyrinth of online trading, a troubling tale unfolds, echoing the struggles of an investor entangled in a tumultuous relationship with FXPRIMUS, drawn in by the promise of financial growth via Telegram ads.

    WikiFX
    2023-11-30 17:03
    Exposure
    FXPRIMUS's Withdrawal Woes Strike Again
    Alert: FXPrimus Withdrawal Issues Increasing

    ExposureAlert: FXPrimus Withdrawal Issues Increasing

    2023-11-30 10:25

    Alert: Rising FXPrimus withdrawal issues reported by traders. Learn about the risks and trader experiences with this online trading platform.

    WikiFX
    2023-11-30 10:25
    Exposure
    Alert: FXPrimus Withdrawal Issues Increasing
    One more user complaints against Fxprimus

    ExposureOne more user complaints against Fxprimus

    2023-11-08 15:24

    A user filed complaint against FXPrimus and wrote in his complaint that “I wanted to buy gold due to the war because many brokers I followed were saying that gold would rise, then I closed my transactions by taking profit and continued trading”.

    WikiFX
    2023-11-08 15:24
    Exposure
    One more user complaints against Fxprimus
    WikiFX Review: Is FXPRIMUS a solid Broker or just another scam?

    NewsWikiFX Review: Is FXPRIMUS a solid Broker or just another scam?

    2022-06-06 15:24

    FXPRIMUS is an online forex brokerage company offering financial services to its clients. Recently, WikiFX has received many feedback from investors within three months. We wonder if FXPRIMUS is really trustworthy. WikiFX made a comprehension review on this broker to help you better understand the truth, we will analyse the reliability of this broker from specific information, regulation, exposure and etc. And you should never miss it.

    WikiFX
    2022-06-06 15:24
    News
    WikiFX Review: Is FXPRIMUS a solid Broker or just another scam?

    User Reviews

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    User comment

    82

    Comments

    Write a review

    Egemen Mustafa Şener
    3-6months
    In my experience with Primus Trading, their client support and educational resources stand out, offering valuable insights for both novice and advanced traders aiming to navigate the markets effectively.
    2024-03-11 15:21
    Reply
    0
    0
    Egemen Mustafa Şener
    3-6months
    FXPRIMUS impresses with its advanced forex calculator, aiding in precise risk management and trade planning. This tool enhances their already robust trading environment, making it a top choice for serious Forex traders.
    2024-02-05 22:33
    Reply
    0
    0
    Raj Dara
    3-6months
    The broker's customer support is highly responsive and knowledgeable, providing timely and helpful assistance to traders' inquiries and issues.
    2024-01-22 21:22
    Reply
    0
    1
    AdityaPrasad
    3-6months
    They offer a fully-featured demo account, allowing new traders to practice and hone their trading skills without any risk.
    2024-01-22 21:08
    Reply
    0
    1
    miteshwalia
    3-6months
    Their mobile trading app is robust, offering full functionality for trading on the go, which is perfect for today's mobile-savvy traders.
    2024-01-22 20:32
    Reply
    0
    2
    Mohanlal Korpal
    3-6months
    The broker excels in offering comprehensive educational resources, including tutorials, webinars, and articles that are invaluable for new and experienced traders alike.
    2024-01-22 19:44
    Reply
    0
    2
    Gaurav Pingle
    3-6months
    They provide advanced trading tools that are both sophisticated for experienced traders and accessible for beginners, offering a versatile trading experience.
    2024-01-22 17:49
    Reply
    0
    1
    anand kohli
    3-6months
    The broker's low minimum deposit requirement makes it accessible for traders with smaller capital to start trading.
    2024-01-22 16:15
    Reply
    0
    1
    Govind Peri
    3-6months
    Regular system updates to improve the trading experience.
    2024-01-22 14:56
    Reply
    0
    2
    Lee Rodriguez
    3-6months
    The platform’s alerts and notifications keep me updated.
    2024-01-19 19:43
    Reply
    0
    1
    Naresh Lal
    3-6months
    FXPrimus is a treasure trove for anyone new to Forex trading, with their excellent educational resources.
    2024-01-19 18:38
    Reply
    0
    1
    Jonathan Warris
    3-6months
    I appreciate the low spreads and high leverage options that FXPrimus offers. It opens up more trading possibilities for me.
    2024-01-19 18:02
    Reply
    0
    1
    Biren Desai
    3-6months
    The customer support at FXPrimus is exceptional. They're always ready and willing to assist, making my trading experience smooth and stress-free.
    2024-01-19 17:26
    Reply
    0
    1
    lucy clarke
    3-6months
    Regular system updates ensure that the trading platform remains cutting-edge, secure, and efficient, enhancing the overall trading experience. Visit - https://fxprimus.com/
    2024-01-19 15:36
    Reply
    0
    2
    Kundan Parmar
    3-6months
    They offer social trading features, allowing traders to follow and copy the trades of experienced traders, which is great for learning and strategy development.
    2024-01-19 15:19
    Reply
    0
    2
    greatchenwhite
    3-6months
    The broker offers a range of leverage options, giving traders the flexibility to choose their desired level of risk and reward.
    2024-01-19 13:10
    Reply
    0
    1
    Danielle 546
    3-6months
    A variety of account types are offered, catering to traders with different levels of experience and investment capacities.
    2024-01-18 21:14
    Reply
    0
    2
    John Goodale
    3-6months
    They provide frequent market updates, keeping traders informed about the latest market movements and news.
    2024-01-18 20:17
    Reply
    0
    2
    Naseer Sule
    3-6months
    Platform customization options are a big plus.
    2024-01-17 17:06
    Reply
    0
    2
    Aditya Bath
    3-6months
    Commission rates are competitive compared to other brokers.
    2024-01-17 14:44
    Reply
    0
    2
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