Overview of FXPrimus
FXPrimus, operated by Primus Markets INTL Ltd and registered in Vanuatu, offers trading services with suspicious clone regulations.
It provides a flexible trading environment with a minimum deposit requirement of $0 USD and maximum leverage up to 1:1000. Spreads can be as low as 0.0 pips across various asset classes including forex, equities, energies, precious metals, indices, cryptocurrencies, and stocks.
Traders can access MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and WebTrader platforms. FXPrimus offers multiple account types: Primus Classic, Primus Pro, Primus Zero, and a demo account for practice.
Customer support is available via live chat 24/5, email, and social media. Deposits and withdrawals can be made through bank wire, local transfer, credit cards, and e-wallets. Educational resources include video tutorials and a blog to support traders' learning and development.
Regulatory Status
FXPrimus is a brokerage firm that claims regulation under the Vanuatu Financial Services Commission (VFSC) with license number 14595.
However, this regulation is currently under scrutiny and suspected to be a clone.
Pros and Cons
FXPrimus supports traders with trading experience by live chat, message or call back. They offer 4 account types to suit all portfolio sizes and trading styles. They offer free trading tools and resources, enhancing accessibility and learning for users. Explore their calculators, market calendars, webinars and articles to help traders plan their trading strategies.
The platform boasts robust trading platforms and a wide array of trading options, including: MetaTrader 4 (MT4) ,MetaTrader 5 (MT5) , cTrader and WebTrader.
However, a potential downside is the suspicious cloned status, which brings risks among some traders.
Market Instruments
FXPrimus offers a diverse range of trading instruments across multiple asset classes to cater to different investment preferences.
These include Forex currency pairs, which provide traders with access to major, minor, and exotic currency pairs.
In addition to Forex, FXPrimus also provides opportunities in equities, allowing traders to invest in individual stocks of leading companies from various global markets.
FXPrimus also offers trading in energies and precious metals. Energies encompass commodities such as crude oil and natural gas.
FXPrimus further broadens its asset offering with indices, which are baskets of stocks representing a particular market or sector.
Moreover, FXPrimus includes cryptocurrencies among its tradable instruments, catering to the growing interest in digital assets.
Account Types
FXPrimus offers four tiered trading accounts designed to accommodate different levels of trading expertise and preferences, along with a demo account for practice purposes:
The Primus Classic Account is tailored for new traders and those looking for a straightforward trading experience. It typically features competitive spreads and access to a wide range of trading instruments including Forex, commodities, indices, and cryptocurrencies.
The Primus Pro Account often offers tighter spreads compared to the Classic Account, making it suitable for traders executing larger volumes or more frequent trades. This account type may also include additional benefits such as personalized customer support, advanced market analysis, and potentially lower trading costs through reduced spreads.
The Primus Zero Account is designed for professional traders and institutional investors who prioritize minimal trading costs. It typically features raw spreads from liquidity providers without any mark-up.
FXPrimus also provides a Primus Demo Account, which allows traders to practice and familiarize themselves with the trading platform and market conditions using virtual funds.
Leverage
FXPrimus offers substantial leverage options for its Primus Classic Account, providing up to 1:1000 leverage on both MT4 and MT5 trading platforms and provides competitive leverage options for its Primus Pro Account, offering a maximum leverage of up to 1:500 on both MT4 and MT5 trading platforms.
In addition, The Primus Zero Account by FXPrimus provides traders with a maximum trading leverage of 1:500. The Primus Demo Account features a maximum trading leverage of 1:1000.
Spreads & Commissions
FXPrimus offers a range of account types each with different spreads and commissions to cater to varying trading preferences.
The Primus Classic Account features average spreads starting from 1.5 pips and charges no commissions.
For those seeking tighter spreads, the Primus Pro Account offers spreads starting from 0.3 pips with commissions of $8 on MT5 and $10 on MT4 per lot traded.
The Primus Zero Account boasts starting spreads from 0 pips with a commission of $5 per lot traded, making it suitable for cost-conscious traders.
Meanwhile, the Primus Demo Account mimics real trading conditions with spreads starting from 1.5 pips and no commissions, providing a risk-free environment for traders to practice and refine their strategies.
Trading Platforms
FXPrimus offers a selection of robust trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and WebTrader.
MT4 and MT5 both support iOS and Android and are trading apps for mobile, tablet or desktop devices. MT4 has a variety of technical indicators and 4 types of pending orders, MT5 has a full set of technical indicators + market depth and 6 types of pending orders.
The cTrader platform is an entry-level trading platform that analyzes the strengths and weaknesses of traders through detailed trade analysis, enables advanced risk management, and has multiple stop orders.
WebTrader can trade directly through the browser, with all trade order types and MT4 execution models, as well as real-time quotes, one-click trading, and the ability to view the history of trade operations.
Deposit & Withdrawal
FXPrimus offers a variety of deposit and withdrawal methods designed for convenience and efficiency.
For bank wire transfers, which support currencies like USD, EUR, SGD, GBP, and others, the minimum withdrawal amount is $100 USD, with FXPrimus covering associated fees. Processing typically takes 2-5 working days.
Local transfers in currencies such as MYR, IDR, VND, and THB also have a minimum withdrawal of $100 USD, with FXPrimus covering fees, and processing times range from 1 to 5 working days.
Credit card withdrawals, available in USD, EUR, SGD, GBP, PLN, and HUF, have the same minimum withdrawal amount and are covered by FXPrimus, with transactions processed in up to 5 minutes.
E-wallet withdrawals in the same currencies and conditions also process within up to 5 minutes, providing traders with swift access to their funds.
In addition, Here's some additional information to know:
- Deposit Fees: FXPRIMUS does not apply any deposit fees
- Funds received in an alternative currency to the trading account, will automatically be converted into the account base currency.
- FXPRIMUS do not accept 3rd party deposits. Payments must only be made in your name matching your FXPRIMUS trading account. If any 3rd party funding is received this will be refunded and costs applied to the 3rd party.
- Most Funding is processed during working hours: Monday to Friday, 7:00 – 21:00 GMT+2, per calendar month.
- The Company shall bear absolutely no responsibility regardless of the circumstances for any such payment providers failings thereof and/or any losses that took place or might take place in the future as a result of using the above services.
Customer Support
Traders can reach out to FXPrimus' customer support team via live chat, available 24/5.
For more detailed inquiries or support needs, FXPrimus also offers direct communication through email: support@fxprimus.eu
Beyond direct support channels, FXPrimus maintains an active presence across various social media platforms, you can follow:
Twitter: https://twitter.com/fxprimus
Facebook: https://facebook.com/FXPRIMUSbroker
Instagram: https://instagram.com/fxprimus/
YouTube: https://youtube.com/channel/UCd4ESVCr7zxtpTnobmB4laQ
Linkedin: https://linkedin.com/company/fxprimus/
If you prefer to visit or send correspondence to their head office, the address is: Kolonakiou 25, Office 101, Zavos Kolonakiou Center, 4103 Limassol, Cyprus
Educational Resources
FXPrimus offers a diverse array of educational resources, combining video tutorials and insightful blog content to support traders at every skill level.
These tutorials cover various aspects of trading, including platform navigation, technical analysis, fundamental analysis, risk management, and trading strategies. Each video is structured to be concise and informative, focusing on practical insights that traders can apply directly to their trading activities.
In addition to video tutorials, FXPrimus maintains a regularly updated blog that delves deeper into market trends, trading psychology, and strategic approaches.
Conclusion
FXPrimus, operated by Primus Markets INTL Ltd in Vanuatu, offers a compelling trading environment with advantages such as no minimum deposit requirement, high leverage up to 1:1000, and competitive spreads starting from 0.0 pips. The availability of multiple trading platforms and a wide range of tradable assets further enhances its appeal.
However, worries about regulatory issues may deter some potential clients, and traders should approach with caution regarding the broker's regulatory status.
FAQS
What trading platforms does FXPrimus offer？
FXPrimus offers a range of trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and WebTrader. These platforms cater to both manual and automated trading strategies.
Is there a demo account available at FXPrimus？
FXPrimus offers a demo account option for traders to practice trading strategies in a risk-free environment using virtual funds.
What are the trading instruments available at FXPrimus？
FXPrimus offers a wide range of trading instruments including major, minor, and exotic currency pairs, commodities such as gold and oil, global indices, and cryptocurrencies.
2023-03-29 09:15
2022-12-08 10:49
