FxPrimus Review

FxPrimus Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker is in this FxPrimus Review.

FxPrimus Review

FXPRIMUS offers its clients two trading account options: Variable spread and ECN Premier. Both accounts provide leverage up to 1:400, micro lots for trade and variable spreads. The ECN premier account holders are offered tighter spreads, however a commission applies for the ECN environment, while the Variable spread account is commission-free.

In addition, FXPRIMUS provides swap-free (Islamic) accounts, which are Sharia compliant (for Muslim investors who are unwilling to earn interest for religious reasons), as well as percentage allocation money management (PAMM) services. The FXPrimus PAMM accounts are fully automated both for the skilled traders and the investors.

The Company. Security of Funds



FXPrimus Europe (CY) Ltd.



FXPRIMUS is a retail forex broker, offering wide range of currency pairs, precious metals and various CFDs on energy products, indices and 5 cryptocurrencies (Bitcoin, Ethereum, Ripple, Litecoin and Dash).

FXPRIMUS is the trading name of FXPrimus Europe (CY) Ltd., a Cypriot Investment Firm (CIF), registered in the European Union and licensed by Cyprus Securities and Exchange Commission (CySEC).

Currently Cyprus is among the most attractive forex broker destinations and one of the reasons for that surely is balanced regulation. Tough regulation with high entry capital requirements and low maximum leverage has reduced competition in the United States and Japan, while light touch regulation affects credibility and safety.

CySEC applies certain rules and requirements to Cyprus Investment Firms, which are not as stringent as those in the US, for instance, however they provide a certain level of credibility. Cypriot Investment Firms must hold at least €1,000,000 in order to prove their good financial standing. Besides, they are required to keep customer funds in segregated accounts, separated from the company’s operating funds.

As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation up to 20,000 EUR, If the company is in default. In November 2016 the broker increased client fund insurance protection with additional up to €2.5 million. The offering is available to all live trading account holders and is underwritten by Lloyd’s.

Additionally, every CySEC- regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU under the MiFID Passporting Regime. What is more, the broker is also registered with a number of EU regulators, including UK’ FCA, Germany’s BaFin and others.

Besides, FXPRIMUS used to hold a license in Mauritius, but in late March 2016 the local financial regulator, the Financial Services Commission (FSC), revoked it.

Trading Conditions

Minimum Initial Deposit
In order to open an account with FXPRIMUS, traders have to invest a minimum of $100. Such minimum initial amount is common, however, many Cyprus-based brokers require less. For instance, FXTM demands just $5 from its clients as a start.

Spreads & Commissions
Being a true STP broker, FXPRIMUS offers floating spreads, varying by account category. No matter which account type you chose, however, trading costs will be similar, as commission-free Variable spread account provides average spreads of 1.5 for the EUR/USD pair, while the ECN Premier one offers average spreads of 0.4 pips on EUR/USD + $10 commission (which equals approximately 1 pip). Variable spreads from 1.0 to 1.5 pips are considered average for the FX market.

For purposes of comparison, average variable spreads on Exness’ commission-free accounts amount to 0.9 pips on EUR/USD, while ECN account holders are offered average spreads of 0.4 pips on EUR/USD with $5 commission per standard.

We would also like to mention that FXPRIMUS offers large-volume traders discounts. Once you trade the equivalent of 250 standard lots or more in a calendar month, you will qualify for a lower commission rate of $8 per standard lot round trip traded (or equivalent thereof).

The maximum leverage level offered by FXPRIMUS is comparatively high, reaching 1:500. Nonetheless, many Cyprus-based brokers offer even higher leverage rates: for example, XM provides leverage up to 1:888 and Exness currently runs its Unlimited Leverage Promotion. Check out a list of brokers, providing leverage equal to or exceeding 1:500 here.

Although it is tempting to use higher leverage and be able to operate with larger amounts, we advise traders to be careful, for such leverage levels involve greater risk of heavy losses.

Trading Platforms

This broker supports the standard forex market trading platform MetaTrader4 (MT4) and WebTrader, powered by Sirix.

MT4 is an internationally acclaimed trading terminal, offering a full spectrum of trading tools and resources: more than 50 built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options for them. Traders can download ready-made or create their own EAs and let the program do all the work, no human emotions involved.

MetaTrader 4 is available to clients of FXPRIMUS as desktop and mobile versions. More brokers using the MT4 can be viewed here.

The FXPRIMUS WebTrader, on the other hand, lets you access your MT4 account via the Internet without having to install the MT4 platform. Any browser that supports Flash can run the WebTrader on any PC, Mac or Linux computer. WebTrader is not currently available to clients with managed accounts or Money Managers who use our MAM software.

Like most brokers, FXPRIMUS also provides VPS (Virtual Private Server) for $30 per month. It allows you to connect to your MetaTrader4 (MT4) platform using a remote computer located close to our MT4 servers.

By the time of writing this review, FXPRIMUS runs the following promotions:

– Double dynamo bonus & cashback is offered to new and existing clients with minimum deposit of USD 500 and maximum leverage 300:1 are offered 100% on deposit bonus up to $10,000.00 and $2/$4 (for Variable spreads/ECN Premier account holders respectively) cashback on every standard lot traded;

– As official online sponsor of one of the most successful premier league football team, Manchester City Football Club, the broker offers successful traders to meet their favorite Manchester City player as a reward.

In addition, FXPRIMUS has partnered with rebate service provider PayBackFX. Variable spread account holders are able to get 0.6 pips per lot (round trip), while ECN Premier account holders may get back 30% of the commission.

Methods of Payment

FXPRIMUS supports a wide range of payment methods: credit/debit cards, bank wire transfer and e-wallet payment systems Skrill, Neteller, FasaPay and Payoneer’s Prepaid MasterCard, eZeebill, as well as Bitcoin, YuuPay, ClickandBuy and China UnionPay.

USD, EUR, GBP, AUD, SGD, PLN & HUF based accounts are offered by this broker.

FXPRIMUS is a EU STP broker that offers online trading in forex currency pairs, CFDs and precious metals under competitive conditions.

Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.

FxPrimus Review Conclusion

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