FXPrimus is an MT4 broker founded in 1999. by an experienced hedge fund traders. The headquarters of this broker is based in Cyprus and it is regulated by CySec, MiFID, and ICF. FXPRIMUS is a Forex broker which offers a wide range of currency pairs, precious metals, CFDs and various cryptocurrencies like Bitcoin, Etherium, Ripple, Litecoin, and Dash. In this review, we will explain all the tools and features you can use and familiarize you in detail with FXPrimus broker.
Account Features
FXPrimus Demo Account
After you register with FXPrimus Broker, you have two options: Open a real account or Open a demo account. What we liked is the fact that you can test the way a broker works along with all tools and features through the demo account. In this way, all traders, beginners or experts, can easily make a decision whether to trade with FXPrimus Broker. All traders will have the ability to navigate through the MT4 platform or via WebTrader which does not require any download. Also, you can access it via any device that has an internet connection.
FXPrimus Account Types
FXPrimus offers its traders two different account types:
- FXPrimus Variable Account
- FXPrimus ECN Premium Account
FXPrimus Variable Account
With FXPrimus Variable account traders can trade with forex, commodities, energies, and indices. Also, traders will have access to unlimited free educational resources plus a range of trading tools available for FXPrimus Variable account traders only. It is important to note that FXPrimus Variable account traders benefit from commission-free trades.
FXPrimus ECN Premium Account
FXPrimus ECN Premium account is for the traders that make a deposit greater than $500. With this account, traders are able to get all information, trades, signals, and updates via SMS. Also, this type of account includes a weekly informative financial trading seminar and lowest spreads starting from 0.
The general guidelines of leverage for trading with FXPrimus broker are:
- $ 0 to $ 1,000 – Up to 1:1000
- $1,001 to $20,000 – Up to 1:500
- $20,001 to $50,000 – Up to 1:400
- $50,001 to $100,000 – Up to 1:200
- Above $100,000 – Up to 1:100
Live Spread Options
(ECN) Premier Spreads
For the start, traders need to know that ECN incurs a commission of $10 per lot traded. However, these spreads are absolutely tightest available and they can be offered to the traders with multi-million dollar accounts.
Variable Spreads
Variable spreads are not constant in value. These spreads expand on the market conditions and changes in liquidity. To explain it easier, in the moment when the market becomes more volatile, a variable spread will become wider.
FXPrimus Islamic Account
In addition to all accounts that we mentioned earlier, FXPRIMUS provides Islamic Accounts, which is Sharia compliant, as well as percentage allocation money management. This way, traders can trade without swaps and find an account that suits them the best.
FXPrimus Bonus
FXPrimus Broker offers traders the option of an exclusive bonus of up to 30%. In order to get a bonus, the deposit amount is $ 500 minimum. Also, all traders using the Bonus offer have the option to use all educational resources and gain access to exclusive trading tools.
The base currency for trading is USD.
Trading Software & Assets
The platform used to trade with the FXPrimus broker is MT4. This is also one of the most popular platforms used for trading. The Metatrader4 platform is a fully equipped workplace that allows traders to trade at the financial market. It provides all the necessary tools and data to analyze price dynamics, making trade transactions, and traders can use Expert Advisors as automated trading programs.
To use a Metatrader4 trading platform, traders need to download it with the link FXPrimus provides for you or directly on the Members Area section.
PAMM Trading Platform
PAMM Trading platform is innovative platform created by FXPrimus offering traders the opportunity to follow trades made by experts and professional traders. If you don’t have a time to trade by yourself and it is hard for you to make your own trading decision, then PAMM trading is for you. There are some benefits that you can have by using this platform and they are:
- Choose which trades to follow
- Different analytics & statistics
- Innovative platform
- View the performance of expert traders
Since this section is divided by followers and expert traders, we can say that expert traders can benefit from their trading also and by that we think:
- Earn commission on every trade followed
- Compare your performance with other traders
- Supplement your income with each trade made
PAMM is currently available in English, Chinese, Spanish, Indonesia, Malay, Thailand, Russian and Arabic languages.
FXPrimus Mobile Trading
The FXPrimus apps created for iPhone/iPad lets you place trades just by using your MT4 ID and password. Also, while writing this review, we contacted the customer support live chat and they told us that MAC users and Android users can use FXPrimus broker through their devices. The only important part for trading ‘on the go’ is the to have a good internet connection.
Support Information
While writing this review, we have requested help from customer support team multiple times directly via live chat. We can safely say that the agents were educated regarding any issue and they answered in a matter of seconds to all questions asked. In addition to live chat options, traders can contact the FXPrimus broker directly via mobile phone: Phone: +357 25262084 or send an e-mail to [email protected]. Customer support representatives are available 24/7 five days a week. With such a strong relationship with the client, we believe it is an incredible experience for every new but also the existing trader.
Banking & Company Information
Deposit methods for FXPrimus broker are standard as for other brokers and that includes:
- Bank Wire
- Credit cards
- Debit cards
- Neteller
- Skrill
- Fasapay
Also, the withdrawal methods are linked with the deposit methods but they vary in the time you need to wait for a withdrawal process. For example, withdrawal via bank wire is 2-5 business days while withdrawal via Skrill is 1-2 business days. It is important to note that there are no additional fee charges on withdrawal with FXPrimus broker.
Also, if traders have any problems with withdrawals, they can contact FXPrimus payment team at [email protected]
This broker is operated by FXPrimus Limited, company that is regulated by CySEC with license no. 261/14