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FXPrimus Review

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FXPrimus is a forex trading services broker. They give traders access to the major markets like currencies, indices, commodities and shares.

Pros

  • Segregates client funds
  • Established in 2009
  • Regulated by CySEC, MiFID
  • Min. deposit from $100

Cons

To open a live account, you’ll need a minimum deposit of at least $100. Alternatively, FXPrimus offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by CySEC (Licence: 261/14). FXPrimus puts all client funds in a segregated bank account and uses tier-1 banks for this. FXPrimus has been established since 2009, and have a head office in Cyprus.

Before we dive into some of the more detailed aspects of FXPrimus ’s spreads, fees, platforms and trading features, you may want to open FXPrimus ’s website in a new tab by clicking the button below in order to see the latest information directly from FXPrimus.

Visit FXPrimus

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FXPrimus screenshot Open a demo account

71% of retail investor accounts lose money when trading CFDs with this provider

What are FXPrimus's spreads & fees?

Like most brokers, FXPrimus takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on FXPrimus’s website. The colour bars show how competitive FXPrimus' spreads are in comparison to other popular brokers featured on BrokerNotes.

FXPrimus fixed spread is not available. If you believe this is incorrect please fill in our form

Spreads are dynamic and are for informational purposes only.

As you can see, FXPrimus 's minimum spread for trading EUR/USD is 0.5 pips - which is relatively low compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with FXPrimus vs. similar brokers.

See all Spreads

How much does FXPrimus charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with FXPrimus at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $13.5. Here’s a rough breakdown of the fees and how this compares against IG & Plus500 .

FXPrimus IG Plus500
Spread from: $ 5.00 $ 6.00 $ 6.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 5.00 $ 6.00 $ 6.00
$1 more $1 more
Visit FXPrimus Visit IG Visit Plus500

All fees/prices are for informational purposes and are subject to change.

General Fees

  • FXPrimus doesn’t charge inactivity fees*
  • FXPrimus withdrawal fees varies on payment method

Commissions

  • FXPrimus doesn’t charge commission on CFD shares

What can you trade with FXPrimus?

FXPrimus offers over 125 different instruments to trade, including over 43 currency pairs. We’ve summarised all of the different types of instruments offered by FXPrimus below, along with the instruments offered by IG and Plus500 for comparison.

FX / Currencies FXPrimus IG Plus500
# of forex pairs offered 43 90 61
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs FXPrimus IG Plus500
# of commodities offered 0 34 17
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs FXPrimus IG Plus500
# of Stocks offered 60 8000 1816
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares No Yes Yes
Japanese Shares No Yes Yes
See FXPrimus's InstrumentsSee IG's InstrumentsSee Plus500's Instruments

What’s the FXPrimus trading experience like?

1) Platforms and apps

FXPrimus offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

FXPrimus Screenshot

FXPrimus also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See FXPrimus 's platforms

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Managed account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

FXPrimus allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. FXPrimus allows you to execute a maximum trade of 80 lot. As FXPrimus offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.

As a market maker, FXPrimus may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As a nice bonus, FXPrimus are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at ).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that FXPrimus offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller

3) Client support

FXPrimus support a wide range of languages including English, Spanish, Indonesian, Chinese, Thai, Vietnamese, Hungarian, and Malaysian.

FXPrimus has a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.

4) What you’ll need to open an account with FXPrimus

As FXPrimus is regulated by CySEC, MiFID , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore FXPrimus’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with FXPrimus you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.fxprimus.com/ on 01/06/2019.

71% of retail investor accounts lose money when trading CFDs with this provider