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FXPRIMUS is a legit broker? FXPRIMUS scam or safe? The spread is high or low? How to deposit or withdraw funds?

We provide answers to all the questions in this FXPRIMUS Review.

We check FXPRIMUS licenses and regulation status. Compared FXPRIMUS fees like spread & commission from its live account to other 150 brokers. The time for deposit & withdrawal and many more findings you can get in this Review.

What is FXPRIMUS

FXPRIMUS is a global CFD and Forex broker, established in 2009.

The broker expand globally and is regulated by CySEC in Cyprus, and serves legal regulated subsidiary in South Africa regulated by FSCA.

FXPRIMUS Highlights

🗺️ Regulated inCyprus, South Africa, Vanuatu
🛡️ Is FXPRIMUS safe to tradeYes
💵 EUR/USD spread1.7 pips
🏦 DepositBank Transfer, Cards e-wallets
💰 Minimum depositUS$100
🏦 WithdrawalBank Transfer, Cards, e-wallets
💻 Trading platformMT4
💳 Trading marketsForex and CFDs on Metals, Energies, indices, stocks, equities
📈 Number of product130
📉 Live chat responseRelevant answers

Regulation

License and regulation are the keys to trading security. We check two points the broker’s background with its licenses, and how trader is protected if something goes wrong.

Is FXPRIMUS legit

FXPRIMUS is legit and regulated in each region it operates.

The primary license is Cyprus Securities and Exchange Commission (CySEC) which is considered a good trusted regulation, even not as high as top-tier FCA. With a further expand, FXPRIMUS obtained license from FSCA in South Africa covering Africa region and global proposal is done via the offshore enityt in Vanuatu.

FXPRIMUS Licenses and Regulatory status

EntityRegistered inRegulatorLicense no.Status
Primus Global LtdCyprusCyprus Securities and Exchange Commission (CySEC) 261/14Currently Regulated
Primus Africa (Pty) LtdSouth AfricaFinancial Sector Conduct Authority (FSCA)no. 46675Currently Regulated
Primus Markets INTL Limited VanuatuFinancial Services Commission (VFSC)14595Registered
FXPRIMUS Review – Register CySEC
FXPRIMUS Review – Register CySEC

Is FXPRIMUS safe

We consider FXPRIMUS safe because it is regulated broker.  FXPRIMUS is audited by CySEC according to MiFID and ESMA regulations. CySEC is not a top-tier authority with highest trust scores, yet is considered safe to trade.

FXPrimus has 3 entities, the matter of entity differ regulatory measures and compensations. In addition, FXPRIMUS provides professional indemnity insurance up to 5M$, which is a good plus to security.

In Africa and Europe regions FXPrimus provides safe trading environment, while international proposal is offered through offshore entity which is not as strict as serious regulators.

FXPRIMUS Compensation Scheme

EntityCompensation AmountNegative Balance Protection
Primus Global LtdEUR20,000Yes
Primus Africa (Pty) LtdNo CompensationYes
Primus Markets INTL Limited No CompensationNo

We recommend registering your account with CySEC or FSCA regulated entity and avoid Vanuatu subsidiary due to low regulations

FXPRIMUS applies negative balance protection for retail trader accounts, however regulations in Vanuatu does not demand this rule

Markets and Products

There is a good range of trading products at FXPRIMUS, including Forex and CFDs on Commodities, Indices and Equities, also range is different in each subsidiary.

Form the downside popular Cryptocurrencies and advanced range of each instrument category are not offered.

MarketsInstruments
Forex45
Indices10
Commodities6
Cryptocurrencies
Shares60

Account types

FXPRIMUS has two account types, ECN Premium Account and Variable Spread Account that differ in execution model, fees and minimum deposit.

Login

You can login FXPRIMUS from the official website, there are different domains in each entity.



FXPRIMUS Variable AccountFXPRIMUS ECN Premium Account
Minimum Deposit100 USD/EUR/GBP500 USD/EUR/GBP
Minimum Balance500 USD/EUR/GBP
Spreads From1.5 pips0.1 pips
Commissions10$ per lot.Zero Commissions

Fees and commissions

FXPRIMUS fee levels we ranked as average for all instrument group based on the instrument and compare to 150 brokers that we check through Live account spread.

Spread for popular instruments we collect for 6 markets and 150 brokers

MarketsInstrumentsLowAverageHigh
ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-1.41.5 or higher
CommoditiesGold0.1-0.40.5-22.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%0.6-0.9%1% or higher

Spreads

FXPRIMUS fees are different in each account type.  

ECN Accounts are offered with raw spread from 0.1 pips and commission of 10$ per lot, which is considered average and high compare to industry ECN accounts.

Comparing the spreads derived from Live Variable Spreads Account to industry benchmarks, we found all fees are in average levels.

Also, spreads are slightly different in each entity and some conditions may apply.

MarketsInstrumentsVariable AccountOther brokers’ avg spread
ForexEUR/USD1.71-1.5
IndicesUS S&P5000.80.5-1.4
CommoditiesGold0.370.5-2
StocksTesla0.10 cents per share RT0.6-1
ETFsUS Russell20000.5-1.4
CryptocurrenciesBitcoin0.6-0.9%

Other Fees

FXPRIMUS non-trading fees are low. There is no fee for deposits but withdrawals adds on fee, also broker will not charge an inactivity fee.

Trading Conditions

FXPRIMUS trading conditions are good all trading strategies scalping and hedging are allowed.

Trading ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

Hedging is allowed with no restrictions on positions.  

Scalping strategy is also available, Expert Advisors (EAs) and Free VPS service is available for traders.

Leverage and the change of leverage ratios differ according to subsidiary regulations are 1:400 for South Africa and International proposal, and 1:30 European traders on Forex.

Deposit

FXPRIMUS covers deposit fees, the methods are different in eah jurisdiction, and typically you can use Bank Transfer, Credit or Debit cards, and e-wallets. FXPRIMUS also offering its prepaid MasterCard, and Bitcoin is available only through international Vanuatu entity.  

Deposit MethodFunding TimeFee
Bank Transfer2-5 Working daysFree
Credit CardInstantFree
Skrill, Neteller, turstpayInstantFree

Minimum Deposit

The minimum deposit is 100$ for Variable spread account,ECN account will demand a higher deposit of 500$.

FXPRIMUS Review – Deposit and withdrawal – Deposit Vanuatu
FXPRIMUS Review – Deposit and withdrawal – Deposit Vanuatu

Withdrawal

FXPRIMUS covers withdrawal from their side.

Similarly do deposits, withdrawal methods depending on the neityt conditions and are first refunded to credit card then can be followed to e-wallets or Bitcoin for international clients.

FXPRIMUS confirm and process withdrawal requests within 24 – 48 hours during working days.

Withdrawal MethodWithdrawal TimeFee
Bank Wire2 – 5 Working days0 $
Credit Card2 – 5 Working days0 $
e-wallets2 – 5 Working days0 $
Bitpay2 – 5 Working days0 $

Bonus

FXPRIMUS offers Bonuses or promotion programs only for international clients via Vanuatu entity. There is no No deposit bonus, but are active deposit bonus, trading bonuses, zero fees, etc. Other regulated entities of FXPRIMUS restrict any bonuses or promotions.

FXPRIMUS Review – Bonuses
FXPRIMUS Review – Bonuses

Trading Platform

FXPRIMUS mainstays on MetaTrader technology and does not offer any other alternative.

MT4

FXPRIMUS MT4 is good, it is packed with extra tools like Platinum APIs and Trading Tools Suite and available on desktop Windows or Mac, App or Web version across all range of instruments.

FXPRIMUS Review –Platform
FXPRIMUS Review –Platform

Research and Tools

Research at FXPRIMUS is good.

There are many tools to use in the platform including technical analysis tools, Connect with News Feed, Sentiment Trader, Marker Manager etc., plus you can find Economic Calendar and PAMM proposal for international subsidiary.   

From downsides technical analysis or fundamental data from leading providers are missing, but FXPRIMUS organizes Expert Guests webinars.

FXPRIMUS Research tools available on:

  • FXPRIMUS Platform
  • Tools section on website
FXPRIMUS Review – Research
FXPRIMUS Review – Research

Education

FXPRIMUS education content is good, you can learn via Webinars, Seminars, education videos and access Weekly outlooks provided by in-house professionals.

At FXPRIMUS you can learn:

  • Demo account
  • Video tutorials
  • Webinars, Seminars
  • Expert Guests reviews and Weekly analysis
FXPRIMUS Review – Education - Outlook
FXPRIMUS Review – Education – Outlook

Customer Service

FXPRIMUS customer supported is responsive and eager to help. You can contact support in various ways including various popular messengers so it is easy to reach service line, also we got relevant answer via Live Chat.

FXPRIMUS Customer Service supports:

  • Phone lines and Call back
  • Live Chat, Telegram, Messenger, WhatsApp
  • Email
FXPRIMUS Review – Customer Service
FXPRIMUS Review – Customer Service

FXPRIMUS Live Chat response is quick speed, the agents are helpful providing good answers

Question AskedWe ask about Crypto trading.
Time of ReplyWe were connected to Facebook Messenger within minutes
Quality of ReplyThe answer was informative, referring to relevant regulations

Conclusion

FXPRIMUS considered a safe broker, even though it is a regulated broker by tier-2 authorities and is not regulated by top-tier authorities like FCA in the UK.  

FXPRIMUS has good quality offering and the trading costs are good for both Variable spread account and ECN environment.

We recommend FXPRIMUS for traders who prefer MT4 trading platform solely with good costs, since there is no any alternative

Author of this review

By Jimmy O'Brien

Author of this review

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

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