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FxPrimus FxPrimus Review & Rating

FxPrimus Review

RATING: 3 / 17 REVIEWS
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FxPrimus execution and slippage

0.54 pips

Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker. The less slippage you get, the better your trading results will be. 

 
Our slippage data about FxPrimus is sampled by 10 of the most popular forex trading strategies in Zulutrade.com.
0.64 pips

FxPrimus slippage with Kama-spot trading strategy

Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF

Average profit:                14.0 pips
Average trade lifespan:  19 hours
Most traded pairs:               EUR/USD, GBP/USD and USD/CHF

 

0.01 pips

FxPrimus slippage with Saved FX trading strategy

Average profit:                  16.0 pips

Average trade lifespan:    1 day

Most traded pairs:                 EUR/USD, GBP/USD, USD/CHF
0.10 pips

FxPrimus slippage with Qurenix trading strategy

Average profit:                  9.0 pips

Average trade lifespan:  5 hours

Most traded pairs:             EUR/USD
0.96 pips

FxPrimus slippage with For333 trading strategy

Average pips/trade:           12.0

Average trade lifespan:   15 hours

Most traded pairs:              GBP/USD, EUR/USD, AUD/USD
0.73 pips

FxPrimus slippage with Azar Consulting trading strategy

Average profit:                   28.0 pips

Average trade lifespan:   3 days

Most traded pairs:               EUR/USD
0.61 pips

FxPrimus slippage with The Best Player trading strategy

Average profit:                  22.0 pips

Average trade lifespan:   13 hours

Most traded pairs:               EUR/USD
0.87 pips

FxPrimus slippage with Xiaolidao trading strategy

Average pips/trade:           9.0 pips

Average trade lifespan:   1 day

Most traded pairs:               EUR/USD
0.66 pips

FxPrimus slippage with Youron trading strategy

Average profit:                  9.0 pips

Average trade lifespan:   11 hours

Most traded pairs:               EUR/USD, GBP/USD
0.24 pips

FxPrimus slippage with Duanxian(GBP\USD) trading strategy

Average profit:                      10.0 pips

Average trade lifespan:      1 days
 
Most traded pairs:                   EUR/USD, NZD/USD, GBP/USD

Trading Accounts

 

Account type Minimum deposit Minimum trade size Maximum leverage  Average Spreads 
Variable spread  $100 0.01 1:400 1.5 pips on EUR/USD
ECN Premier  $100 0.01 1:400 0,4 pips on EUR/USD + $10 commission per lot

 

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

 

Company

Country

Regulation

FXPrimus Europe (CY) Ltd.

Cyprus

CySEC

 

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).


Leverage
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.


Promotions
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.


Conclusion


FXPRIMUS is a EU STP broker that offers online trading in forex currency pairs, CFDs and precious metals under competitive conditions. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros Cons
Well-regulated Mediocre spreads
ECN/STP Model  
Choice of trading platforms, MT4 available  
Bonuses & Rebates offered  

 

Forex
Latest news about FxPrimus
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Seychelles FinaCom MT4 $10 Review Website

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Traders` reviews for FxPrimus

Thank you for your feedback

Thank you to all those who have taken the time to comment and post about our products and services. Our support team is dedicated to serving our customers. With this in mind, we want to hear from our clients about their experience, so that we can do everything to ensure positive and safe trading. Please feel free to contact us directly at support@fxprimus.com - we look forward to helping you to achieve the best possible trading journey.

FXPRIMUS 07/12/2016

Excellent execution, tight spread, good customer service

Excellent execution, normally no requotes unless volatility is high, spreads are tight if your account is big. They accept scalpers but I'm mostly trade on higher time frames. Nice support team which you can take advantage of.

Penny 03/01/2013

Great Love Trading

Good Service. Fast withdrawal facility. Was trading demo about 3 months then opened an ECN account, but I am MAC user and use webtrader, easy and wonderful. I would have hoped a few more options on it, but its works fine for me.

I have ordered a debit card and am waiting for it to arrive.

MIG 02/24/2013

The issue has been resolved for the poster below

It seems like the poster below (devang) is trying to spread bad words about FXPRIMUS. The issue has been posted on FPA and has been labelled as resolved 9http://www.forexpeacearmy.com/public/review/www.fxprimus.com) and his bad rating has been removed (http://www.forexpeacearmy.com/public/review/www.fxprimus.com).

amirhamzah 02/07/2013

FXPRIMUS Chew my profit (SCAM)

I want advice of MASTERS of FPA.

I try demo account for few months and after i felt confidant i open an Live account with FXPRIMUS with usd 100. Before opening an account , I read the review of FXPRIMUS on FPA and it is neutral.I also seen Mr.Maria Sant Singh on CNBC (who is prompting FXPRIMUS). So it make me more confidant to open an account.

Let me tell you they are very slow in their operation.They need 24hours to deposit fund which I made through card.(it should be instant).In few weeks and thanks to leverage ,I turned my usd 100 to $750. ( it is around X-mas time)

So i feel really good and try to withdraw at least my initial capital but they refused my withdrawal request saying that "you can't withdraw your fund before 14 working days of deposit" It might be some Laws of Mauritius.After I received such mail I felt low and close my all position and cancel my limit orders too(as that time is due volume days)

Next morning (28-12-2012) I wake up and open my MT4 and I was shocked to see that my balance is $28 only. I check my account history immediately and found that they have open few high leverage position and in just 10pips ,I am stop out.

On that day I even contact them through chat and they advise me to send a mail to support.I did it and even I mail to report@fxprimus.com from where I got "daily confirmation" mail.but none of them has revert me . It has been 5 days passed and looks like they are still investigating it.

Please advice me How i can handle this matter to get my funds back? .It makes me really think that even a reputed and well known broker can CHEW client profit.

I will fight till i got my fund back.

devang 01/04/2013

Sometimes the smaller the brokerage the more good reviews it gets

I've been trading with FXPRIMUS for about 2 years. I've spent quite a bit of money trying to educate myself on trading during my first year and coming into the second year I've done better. I feel comfortable trading with them, so in my opinion, it could be one of the best companies you can associate yourself to as well.

Mikepip1 01/03/2013

Above the average brokers

To those who complained here, I think they missed out something. The right person to talk about your issues is the customer support.

I experienced slippage earlier this year and the first thing I quickly did was to write an email to the customer support and do a follow up. Surprisingly, unlike some of the comments here, the broker admitted the issue and gave me a refund.

I will stick with this broker for awhile because I feel secure trading with them. That's all I can say.

ZexyLady 12/14/2012

Recommended broker

Wow, the people who complained here certainly have the time to type such long negative comments yet didn't have the time to speak to the support to help fix their problems.

Based on my personal experience as a trader, as long as you voice out your problem or ask for explanation, Fxprimus never fails you. Excellent customer service and fast execution. I'm quite confident trading with them at the moment. Just like we don't usually change our barber or hairstylist because we trust no one could do a better job :)

Benjamin Monaco 10/31/2012

helpful retail broker

My experience so far has been good. Earlier before I started joining, I contacted the company to ask for discount on initial deposits and they approved it. I had a couple of hiccups when downloading my MT4 but support responded and helped. NO slippage at the moment. But I know I'll be ready to complain >:D if there's any issue.

Hendrawan 10/18/2012

Fxprimus is definitely underestimated

I'm a bit surprise by some of the negative comments here. Personally, as a user for a few months now, I think Fxprimus is treating me well. The registration was smooth and so far execution is fast and most importantly I've started to make some pips picking up some tips from Mario's daily and weekly market reports.

I'm a small time trader and playing safe is my priority. It's safe to say *touch wood* that Fxprimus is currently a safe place for me to trade. I'll probably review this post again in the future once I'm more experienced :)

amirhamzah 10/16/2012

FxPrimus is just another bucket shop

FxPrimus undistinguished bucket shop. There are better forex brokers out there. I have been using FXPRIMUS for about year and a half and I'm going to switch to another broker soon. Here is why:

1) Planty of requotes, even during relatively calm market. During volatile market and especially during news it's nearly impossible to get in or out of the market.

2) Massive slippage. I got my stop filled 30 pips away during minor news from Australia. WTF? Support conform the news release has caused the excessive slippage, but actually there wasn't such a great deal of volatility.

3) I get "No connection" message as I try to close my profitable positions. Don't my internet service provider.

Rodi 01/26/2012

FxPrimus Scam

FXPRIMUS is a scammer.....they offered me 100% deposit bonus and credit my account with matching deposit and I assumed that I have full available margin available according to my account balance, but what they did is when my account got to draw down to my original deposit, they took the bonus out and then applied the draw down to my original deposit again, causing my account to be liquidated and resulted a margin call...I lost my account over night...

When you deposit $1500 and you get a matching bonus of $1500 then you assume you have a total of $3000 in balance and as a margin...but when my positions got negative to -$1200 they took the bonus out of my account and then applied the negative trades to my original deposit so in reality, I didn't have $3000 balance or magin on my account as I assumed...this is a rip off and bad business practice...when I object them, they replied this:

Thank you for your email.

Please note that margin call occurs when the equity reaches (the bonus amount multiplied by 1.2; as stated per the terms and conditions of the bonus). In your case, margin call triggered accurately as your equity reached (1505 x 1.2=1802).

Canamidex 09/30/2011

FxPrimus ECN account commission is little bit high

Spread: About 1 pip on EURUSD. I recommend you a variable spread account

Order execution: Pretty fast, but slippage may occur during volatile market

Customer Service: Excellent. The support guys are competent and friendly.

Funding and Withdraw: Fast and Good. Like their prepaid MasterCard

ECN Commission: A little bit high(10 dollar per roundturn 100k lot traded)

My advice: If your not mind that FxPrimus is based offshore,go for variable spread account with them.

Rue 03/29/2011

FxPrimus: Scam fund management and slippage

I'm really surprised to see so many positive reviews.

FxPrimus is worst broker I've ever tried. Both market and pending orders are executed with massive slippage. I don't really think that they're a real ECN broker.

FxPrimus is regulated by the Mauritius FSC. Has anybody heard about that regulatory body? I believe it is pretty easy to obtain licence from them compared to the FSA or NFA.

Also BEWARE of FxPrumus' scam fund management service provided by a company called ProFx Club. My friend's $9000 account was almost wiped out by a person called Chanthru Saringabani. He doesn't care about your money and places trades just for the purpose of his commissions.

Nick 03/27/2011

FxPrimus prepaid debit card is great!

I have been trading with this forex broker for 2 months now. I have their prepaid debit card, and have done a test on the length of time their withdrawals take. I withdrew via the cheaper option, $2 that takes a day or so. Within 4 days my money was on my card, and I could withdraw it from my ATM.

This has been a great experience so far, especially if compared to my other broker who has used delaying tactics since I processed 2 withdrawals in October 2010. They keep on saying "your request will be processed shortly/without further delay/etc." In my mind I have written this other broker off, and if (not when) I ever get my money from them, I will put it into FX Primus with confidence.

A thumbs up from me so far to FX Primus, keep up your excellent service, and you will have me as a customer for life. Not only that, but I will promote your name to whomever I speak to who is looking for a decent broker.

TPT 03/02/2011

FxPrimus ECN account is perfect for trading the news

FxPrimus is an excellent broker.

FxPrimus ECN account is perfect for trading the news. I haven't experienced any requotes or slippage for two months trading with this broker.

Customer service is fast and friendly and professional, it took me less than 24 hours to open an account, fund it via MoneyBookers and start trading.

Slovy 02/01/2011

With FxPrimus you can choose between fixed and variable spread

My experience with Fx Primus is excellent. Unlike Alpari UK, that refused to open an account for me, FxPrimus accepted my ID and Proof of Address and I was ready to start trading in less than 2 hours.

My orders are executed within one second, spreads are acceptable. You can choose to trade on variable or fixed spreads. I switched from flexible to fixed spread over the weekend in a few minutes.

FxPrimus offers a prepaid debit card, however I haven't withdraw yet.

Reviewer 03/27/2010
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