Note: FXPRIMUSs official site - https://www.fxprimus.com/int/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
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 & Regulation
FXPRIMUS, the trade brand of Primus Global LTD, was established in Cyprus in 2009.
The Cyprus Securities and Exchange Commission (CySEC) is the primary regulator of Primus Global LTD. It operates under the framework of the EU‘s Financial Instruments Directive 2014/65/EU or MiFID II, and the EU’s 5th Anti-Money Laundering Directive. Primus Markets INTL Limited operates under the offshore regulation of the Vanuatu Financial Services Commission (VFSC), with regulatory license number 14595.
Note: The screenshot date is January 30, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
Tradable financial instruments available on the FXPRIMUS platform include Forex currency pairs, Energies, Metals, Equities, Cryptocurrencies, Indices, and Futures.
Account Types
FXPRIMUS claims to offer four types of trading accounts, namely Cent, Classic, Pro and Zero. The minimum initial deposit required by FXPRIMUS is as low as $10, which sounds reasonable for most regular traders.
Leverage
FXPRIMUS is a regulated broker offering leverage levels that are determined by the regulatory restrictions each authority imposes. Trading with FXPRIMUS under CySEC and MiFID guidelines the maximum leverage level is set to 1:30 for Forex instruments. A global entity of FXPRIMUS based in Vanuatu enables you to trade with high leverage up to 1:1000.
It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
Spreads and commissions vary depending on the account type. Specifically, clients on the Cent and Classic accounts have spread from 1.5 pips with no commission, Pro account holders can experience lower spreads from 0.3 pips with a $5 commission, while only the Zero account members can enjoy raw spreads from 0 pips but have to pay a commission of $8 (MT5)/$10 (MT4).
Trading Platform
FXPRIMUS offers the full suite of MT4 and MT5 trading platforms, which consist of a desktop client, a web trader, and a mobile version. MT4 and MT5 remain the most popular choice among Forex traders due to their full support for automated trading solutions. Thousands of third-party add-ons allow traders to customize and enhance their trading experience further. FXPRIMUS grants a Trading Tools Suite of five add-ons to provide traders with improved MT4 and MT5 platforms.
FXPRIMUS offers VPS hosting to support automated traders. The VPS hosting service is free for clients who maintain $500 in equity and trade five standard lots per month; traders who do not meet that criterion will be required to pay an unreasonable $30 per month for the service.
Deposit & Withdrawal
Bank wires, credit/debit cards, Skrill, and Neteller, represent the deposit and withdrawal options at FXPRIMUS.
Fees
Clients incur a monthly inactivity fee of $30 for the first month and $10 for each subsequent one.
Customer Support
Traders may reach customer support via e-mail: support@fxprimus.com, by using the web form, or through live chat when available. Operating hours join the list of missing items at FXPRIMUS, but a PDF presentation mentions them as 24/5. An FAQ section answers the most basic questions. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Company address: Govant Building, BP 1276, Port Vila, Vanuatu; Kolonakiou 57, Linopetra, 4103, Limassol Cyprus.
Pros & Cons
Frequently Asked Questions (FAQs)
2022-12-14 17:00
2022-11-22 15:29
