FXPrimus
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FXPrimus Review
Introduction
Founded in 2009, FXPRIMUS has established itself as one of the leading Forex brokers in the world.
Offering clients a range of instruments by which to trade currencies, commodities, energies, indices and more, the company has built a strong reputation in the Forex market thanks to its dynamic emphasis on safety, security and integrity.
FXPRIMUS has been at the forefront of the implementation of the safest practices possible in the Forex industry, combining research in new technologies with the mitigation of its client’s risk via a comprehensive academic program, to offer users a secure, safe and sophisticated trading platform.
Traders of all levels also gain from the company’s endless dedication to providing them with the best possible educational support throughout their trading lifecycle.
About FXPrimus
As an FXPRIMUS trader, there are several types of accounts available, which allows traders to pick the option that best suits their trading style and level of experience.
Accounts include Standard, Premium and VIP with each requiring a minimum deposit of $500, $2,500 and $10,000, respectively.
All of the FXPRIMUS offerings include daily market outlooks, SMS alerts and a one-to-one consultation to help set up traders for success. In addition to this, VIP or Premium accounts come with a training system.
If traders are looking to test things out before investing any money, a demo account option is available. Beginners could use it to learn the foundations of trading using the MetaTrader platform, while it allows more experienced traders with a setting where to test out new strategies without having to spend any money.
Here’s a summary of the accounts available:
Variable Spreads Account: Trade on low floating spreads without commission on the MetaTrader 4 platform. Open an account starting with a deposit as low as $100.
ECN Premier Account: Trade on the tightest available spreads plus a $10 commission per lot, also on the MetaTrader 4 platform. With an ECN account, FXPRIMUS acts as a bridge between its traders and tier 1 liquidity providers. It aggregates prices from liquidity providers, shows users the best available price and forwards their orders onto market-makers over an Electronic Communication Network (ECN). Open an account with as low as a $500 deposit.
Micro Account: Trade starting at $10. This account caters primarily to the retail investor who seeks exposure to foreign exchange trading but doesn’t want to risk a lot of money. A micro account’s smallest contract also called a micro lot, is a preset amount of 1,000 units of currency.
| Year Established | 2011 |
| Year Started Offering cTrader | 2011 |
| Country | Dominica |
| Regulation | None |
| Number of Employees | 10+ |
Trading Conditions
FXPRIMUS account holders can trade over 130 instruments across Forex (43 symbols), metals (6 symbols), energies (7 symbols), indices (12 symbols), cryptocurrencies*** (7 symbols) and stocks (110 symbols) on tight spreads from the MetaTrader 4 platform.
Here’s a summary of what is available to traders via FXPRIMUS:
Forex and crypto-currencies***: Trade CFDs on 43 currency pairs across Forex Majors, Minors and exotics. Account-holders may also trade CFDs in cryptocurrencies.
Commodities and energies: Trade CFDs on the price of Gold, Silver, Platinum, Natural Gas and Oil (UK Brent and US Light Sweet Crude Oil).
Indices: Trade CFDs on 12 stock indices such as the S&P 500, Nasdaq 100, Dow Jones, Hang Seng, German DAX and IBEX.
US equities: Trade CFDs on the shares of 60 US companies such as Amazon, Google and Pfizer, to list a few.
| Maximum Leverage | 1:1000 (1:500 on cTrader) |
| Asset Classes | Forex, Metals, Energies |
| Total Number of Trading Pairs | 45 (44 on cTrader) |
| Trading Commissions | $6 per Lot ($30 per mil.) |
| Account Currencies | USD, EUR, CAD, GBP (only USD on cTrader) |
| Minimum Deposit | $10 ($50 on cTrader) |
| Spreads | From 0.0 (on ECN accounts) |
| Stop Out Level | 40% |
Accessibility
Trader’s Way is one of the most accessible cTrader brokers. While the company’s website states that the information is not directed toward soliciting citizens or residents of the United States and the United Kingdom, it doesn’t necessarily say they are not accepted or welcome. We have it on good authority that Trader’s Way is open to working with USA residents. We have seen some chit-chat in several forex trading forums that Trader’s Way accepts US clients but not for using the cTrader platform, only MetaTrader 4 and MetaTrader 5. As for Canadians, who recently had the door closed on them by several brokers, they should still be able to trade with cTrader with Trader’s Way.
As for deposit options, the company works mostly with alternative payment providers. This is due to the fact that forex is considered a high-risk industry, amplified by the fact that Trader’s Way is considered an offshore brokerage.
| Countries Excluded | Sanctioned countries only |
| Deposit Options | Vload, Instacoins, Cryptocurrencies, Abra, Skrill, Neteller, FasaPay, Perfect Money |
| Withdrawal Fees | Varies significantly depending on the method. |
| Social Trading | Yes |
Platforms
As with most of the Forex industry, FXPRIMUS uses the MetaTrader 4 (MetaTrader ) platform, one that is very familiar among traders. The MetaTrader platform enhances the trading experience by integrating an array of functionalities, including advanced technical analysis, EAs, robots, signals, and market and mobile trading applications.
The MetaTrader is available for Windows, Apple or Android and in both desktop and mobile versions. MetaTrader offers multi-language support and a user-friendly interface, which makes trading effortless.
FXPRIMUS traders that have a minimum of $500 in their accounts receive the VPS platform free of charge, while a deposit of $50,000 or more grants them access to the Platinum API option.
Our Experience with Opening a FXPrimus Account
Verifying Our Account
The FXPRIMUS website is easy to navigate through with information and visual aids that layout the trading instruments, benefits, promotions and educational material. It uses eye-catching comparative tables, real price feeds and live spread displays, everything in 11 languages. The website is designed to be inviting and it is 100% to the point, a practice not so common among brokers.
Payment methods
FXPRIMUS makes depositing and withdrawing an easy process, without charging any fees. Payment methods include bank wire transfer, credit and debit cards, e-wallets and Bitcoin.
The broker also allows traders to use several other payment solution providers including Safecharge, eMerchantPay and Skrill, to name a few. Traders are asked to keep their AML documentation up to date to ensure that all of their requests are processed in a timely manner.
Deposits coming from major credit and debit cards are generally processed within 24 hours, while withdrawals take between 2 and 5 business days.
Payment solution providers such as BitPay, Skrill and Neteller process all transactions within 24 hours. The minimum initial deposit for the Standard Account is $500 and, after the first time, traders can deposit as little as $100.
Withdrawing from FXPrimus
To withdraw funds, traders login to their FXPRIMUS account, go to the withdrawal menu below the dashboard and choose how they wish to receive their funds from the dropdown. The broker processes all withdrawal requests within 24 hours and depending on the withdrawal method, the funds should be available in 2-5 business days.
Customer support
The website offers an in-depth FAQ section designed to give fast, first-level support. For situations that need special attention, there is a dedicated multilingual customer support team, available 24/5 via phone, email or live chat. FXPRIMUS puts emphasis on the quality and speed of its customer support, setting the bar high for its competitors.
Regulations
FXPRIMUS is regulated by multiple financial bodies around the globe, making FXPRIMUS a great and reliable choice if individuals want a broker that is safe, secure, and transparent. As an added safety measure, FXPRIMUS has introduced professional indemnity insurance of €5 million.
For security purposes, the latest 128-bit SSL technology encrypts all transaction data and personal information for the user’s peace of mind.
FXPRIMUS has also invested in its tech infrastructure for trade processing, providing users with fast execution speeds. All prices are executable thanks to the broker’s use of liquidity providers and STP.
The Pros and Cons
Here are some of the things we like about this forex broker:
- Multilingual broker with 11 languages supported
- CySEC, VFSC and FSCA regulatory oversight
- Client deposits segregated offshore in Tier-One bank and further protected by national investor compensation protection schemes
- Accounts may be individual, joint, or corporate, with options for classic or ECN type pricing
- Free demo account to learn trading or test out new strategies
- Deposits can be made by major credit or debit card, wire transfer, e-wallets or a host of other local payment methods
- The minimum deposit is $100 or its equivalent
- Trading available in standard, mini and micro-lots
- Broad array of traditional currency pairs with up to 1000:1 leverage*, supplemented by CFD trading in equities, commodities and indices
- STP processing system that supports variable pricing
- Tight spreads, especially with the Premier ECN set-up equal to one pip or less, with no threat of slippage or re-quotes, except possibly during high volume events
- Desktop, web trader and mobile versions of the MetaTrader 4 trading platform available
- VPS service available
- Generous promotions, bonuses and competitions**
- 24/5 Multi-lingual support
No review would be complete without a critical element. Here are some of the things we do not like about Trader’s Way:
- Not regulated by FCA (UK)
- No US clients
- Only major stocks and indices available
The firm has evolved over the past decade as a leader and innovator in the Forex industry for its broad-based offering, reliability, and its network of data centres and liquidity providers spread across the globe. FXPRIMUS has established a high standard for other firms to emulate, as far as safety, security, and effectiveness are concerned. The firm’s motto attests to its commitment to be “The Safest Place to Trade.”
