Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

FXPrimus
9.3 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT FXPRIMUS
Swissquote
8.8 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT SWISSQUOTE
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

FXPrimus is regulated by CySEC, MiFID. FXPrimus have provided Forex trading services since 2009.

Swissquote is regulated by FINMA (Swiss Financial Market Supervisory Authority). Swissquote have provided Forex, Commodities, Indices, Stocks, Bonds trading services since 1999.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 9 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC, MiFID
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters Cyprus Chemin de la Cretaux 33, 1196 Gland, Switzerland Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No No Yes
Social Trading Yes Yes Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 43 138 59
Commodities Offered 0 7 16
Stocks Offered 60 0 99
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No Yes No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE No Yes Yes
Dow Jones No Yes Yes
Dax No Yes Yes
Nikkei No Yes Yes
ETFs No No Yes
IPO No No Yes
See all instruments

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

See all instruments

Losses can exceed deposits

See all instruments

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

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No Yes Yes
MT4 Mac Yes No Yes
WebTrader Yes Yes Yes
Mirror Trader Yes No Yes
ZuluTrade No Yes Yes
Sirix No No No
cTrader No No No
PAMM Yes No No
Custom Platforms Platinum APINo eTrading AvaTradeAct, AVAOptions

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes No
Available Languages

English, Spanish, Indonesian, Chinese, Thai, Vietnamese, Hungarian, and Malaysian

English, German, French, Italian, Spanish, Arabic, Russian, and Chinese

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

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

See platform & features

Losses can exceed deposits

See platform & features

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

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by FXPrimus and Swissquote

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes No Yes
Standard account Yes Yes Yes
ECN Account Yes No No
Islamic account Yes No Yes
Zero spread account No No No
VIP account No No Yes
Fixed spreads No Yes Yes
Variable spreads Yes No Yes
See account options

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

See account options

Losses can exceed deposits

See account options

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

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No No
Direct market access Yes No Yes
STP broker Yes No No
Market maker Yes Yes Yes
Min trade 0.01 Lot Varies 0.01 Lot
Max trade 80 lot Varies None
Min deposit $100 1,000 $100

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller Yes No Yes
Skrill No No Yes
Payment processing time 1-2 business days 1 business day Varies
Withdrawal processing time 2-5 business days 1 business day Varies
See all funding options

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

See all funding options

Losses can exceed deposits

See all funding options

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

DETAILED INFO

Excluded countries US US BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number 357 25262084 41 22 999 94 11 (44) (0) 8005200423
Live Chat Yes Yes Yes
Website http://www.fxprimus.com/ http://en.swissquote.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 0.5 pips + $20.00 1.0 pips 0.9 pips
GBP/USD (Average: 1.1 pips) 1.0 pips + $20.00 1.1 pips 1.6 pips
USD/JPY (Average: 1.1 pips) 0.6 pips + $20.00 1.3 pips 1.1 pips
AUD/USD (Average: 0.8 pips) 1.1 pips + $20.00 1.0 pips 1.1 pips
USD/CHF (Average: 2.3 pips) 1.1 pips + $20.00 1.7 pips 1.6 pips
USD/CAD (Average: 2.9 pips) 1.1 pips + $20.00 2.2 pips 2.0 pips
NZD/USD (Average: 3.6 pips) 1.3 pips + $20.00 1.5 pips 1.8 pips
EUR/GBP (Average: 2.4 pips) 1.3 pips + $20.00 1.3 pips 1.5 pips
View all spreads

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

View all spreads

Losses can exceed deposits

View all spreads

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

FEES

Inactivity Fee No No No
Commission No No No
Deposit Fee Varies No No
Withdrawal Fee Varies No No
View All Fees

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

View All Fees

Losses can exceed deposits

View All Fees

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

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Last update

All information collected from http://www.fxprimus.com/. Last updated on 01/12/2019.

All information collected from http://en.swissquote.com/. Last updated on 01/12/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/12/2019.

Company

As a brokerage company that will not trade against you and regulated by multiple authorities across Eurpoe, FX Primus is a firm you can trust. They are part of a select group of brokers that undergo an annual audit to provide transparency and comfort knowing they are above board and comply with all facets of the law.

FX Primus have partnered with industry experts to provide their users with the most advanced techology resulting in optimal trading enviornments with low latency and fast execution. They pride themselves on their customer support team and thus provide 25 hour support, 5 days a week.

Swiss based Swissquote is an online trading company that provide everything you need to manage your assets online. With Swissquote you are only one click away from trading in the worlds major stock markets in over 1 million products. They give you access to equities, options and futures, funds, derivatives and more.

Swissquote have been listed on the Swiss Market Exchange for over 15 years have global offices including London, Hong Kong and Dubai and employ over 500 staff. They are a member of the Swiss Bankers Assoication and are also regulated by the Swiss Financial Market Supervisory Authority. Opening an account with Swissquote trading platform will grant you access to a premium financial information and analysis to keep in permanent touch with the markets.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

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FXPrimus or Swissquote?

ECN execution or well established?

If you’re a trader looking for a broker that offers ECN execution (as opposed to a market maker), FXPrimus is likely the better choice. However, if you want a broker that has been established for a long time, Swissquote may be a more appropriate option.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider FXPrimus and Swissquote to be equally reliable. We’ve broken down why below:

Who are they regulated by?

FXPrimus is regulated by CySEC, MiFID, while Swissquote is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, Swissquote will have very strict guidelines to follow to ensure they protect their retail trader clients.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

FXPrimus has been around for 10 years, while Swissquote have been around for 20 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both FXPrimus and Swissquote use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on FXPrimus or Swissquote in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both FXPrimus and Swissquote are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

FXPrimus are based in Cyprus, while Swissquote are based in Chemin de la Cretaux 33, 1196 Gland, Switzerland .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both FXPrimus and Swissquote offer forex trading. Swissquote have a slightly larger variety of currency pairs with 138 pairs, compared to 43 offered by FXPrimus. Also, if you’re looking to trade cryptocurrencies,

Both FXPrimus and Swissquote allow you to trade commodities like gold, silver and crude oil.

FXPrimus and Swissquote both offer social trading, which is a modern approach to trading that allows you to follow like-minded traders, copy their trading activity, and engage in discussion around trading strategies.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both FXPrimus and Swissquote offer this. Swissquote also offer the new & improved MT5 platform. Our alternative broker, AvaTrade, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. AvaTrade, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

FXPrimus does allow scalping and hedging. While Swissquote also allows scalping and hedging. You can trade with EAs (expert advisors) on both FXPrimus and Swissquote.

In terms of risk management tools, neither FXPrimus or Swissquote offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

FXPrimus also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

FXPrimus accept Neteller while Swissquote accept Payoneer.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, FXPrimus charges 0.50 points, while Swissquote charges 0.80 points. Therefore, FXPrimus is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: FXPrimus or Swissquote?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Swissquote is more reliable based on our criteria above. Swissquote has a wider range of instruments to trade. Swissquote offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.