FxPrimus Broker Review

Author By Jeffrey Cammack
Updated: September 23, 2021
Overall Rating
3.49 3.49 / 5
Rated #57 of 69 Recommended Brokers
Min. Deposit
USD 100
Regulators
Trading Desk
Trading Cost
USD 15
Website Language
English, Arabic, Indonesian, Malay, Portuguese, Thai, Vietnamese, Chinese
Support Language
English, Arabic, Indonesian, Malay, Portuguese, Thai, Vietnamese, Chinese
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 platforms support. FxPrimus is regulated by the CySEC, FSCA, and the VFSC.

Forex Malaysia follows a strict editorial standard in our review process. We may receive compensation when you click on links to products we review. Please read our advertising disclosure.

Summary

FXPRIMUS is an STP market maker founded in 2009 and fully regulated by CySEC since 2014. Globally acclaimed for offering one of the fastest and most secure online trading environments, the company offers trading on Forex, indices, commodities, cryptocurrencies, energies, metals, futures, and equities on the MT4 platform.

FXPRIMUS offers two live accounts, and three tiers of benefits with increasing deposit requirements.  Spreads are wider than the industry average, and a high commission is charged on its ECN account.  Furthermore, FXPRIMUS offers little in the way of market analysis and educational materials for beginner traders.  Malaysians will be pleased to note that FXPRIMUS offers Islamic Swap-Free accounts. 

Reviews

Regulation
1110.503.5/ 5
Trading Conditions
110.5002.5/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
10.50001.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
11110.54.5/ 5
Beginner Friendly
Poor
Bonuses
100% Welcome Bonus. No Minimum Deposit.

Account Information

Base Currencies
ZAR, USD, EUR
Number of FX Pairs
43
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.10 pips
Commission
10 USD / lot - ECN Account
EUR/USD
0.30 pips
GBP/USD
0.80 pips
USD/JPY
0.30 pips
Max. Leverage
1000:1

Company Details

Company Name
FXPRIMUS Group
Founded
2009
Office Locations
Cyprus, South Africa

Pros

  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
  • Great customer support

Cons

  • High commission
  • Limited education
  • Limited market analysis

Is FXPRIMUS Safe?

FXPRIMUS was founded in Cyprus in 2009 and has held CySEC regulation since 2014. FXPRIMUS is also regulated by the FSCA in South Africa and the Vanuatu VFSC for clients outside of Europe and the UK.  Malaysian traders should be aware that FXPRIMUS is not currently licenced by the Securities Commission of Malaysia.

FXPRIMUS is the brand name used by:

  • Primus Global Ltd, regulated by CySEC, with licence no. 261/14.
  • Primus Markets INTL Limited, regulated by VFSC, with registration no. 14595.
  • Primus Africa (Pty) Ltd, regulated by FSCA, with licence no. 46675.

All FXPRIMUS clients worldwide have negative balance protection, and as such, can never lose more money than they have in their trading accounts. Furthermore, all client funds are segregated from FXPRIMUS’s operational funds.

Scroll for more detailsPreviousNext
Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Inactivity Fee
CySEC
FSCA
Fi
BaFin
VFSC
Market Maker
2009
Cyprus, South Africa

 

FXPrimus Safety

Trading Conditions

FXPRIMUS is a market maker but provides STP execution and offers an ECN account for raw spreads direct from liquidity providers. FXPRIMUS maintains a data centre worldwide to provide low latency and fast execution on all trades, regardless of the account type.

FXPRIMUS Data Centres

Account Types

FXPRIMUS offers a demo account alongside two different live account types, the Variable Account and the ECN Premium Account. All accounts have three tiers, Standard, Premium, and VIP. Though the spreads do not change between these account tiers, each level requires a higher minimum deposit and provides more perks such as one-on-one customer support and VIP trading signals.

Leverage is set at a maximum of 1000:1 for all accounts, though this is on a sliding scale, and leverage will decrease with the size of your trade (1:500 for trades over 1000 USD and down to 1:100 for trades over 100,000 USD)

All accounts are available in a range of base currencies: USD, EUR, GBP, PLN, HUF, and SGD.  Note that FXPRIMUS offers Islamic Swap-Free accounts that need to be approved by the company.  Once approved, your swap free will be processed and you will be informed via email within 1 business day. 

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
ECN Premium Account
USD 100
500:1
0.10
$10.00
Account Details
Variable Account
USD 100
500:1
1.50
None
Account Details

Variable Account

  • Standard: A minimum deposit of 100 USD (or equivalent) is required for this account, and there are few added extras. Expect a Daily Market Outlook, SMS Alerts, and a one-on-one consultation when you open an account.
  • Premium: This account requires a minimum deposit of 2500 USD, but account holders will also receive MT4 training in addition to live market update telephone calls.
  • VIP: The highest tier of account, the minimum deposit here is 10,000 USD. Account-holders will have personal access to a market specialist and will also be provided with VIP trading signals.

FXPrimus Account Tiers

ECN Premium Account

The ECN Premium Account at FXPRIMUS offers tighter spreads in exchange for a commission per trade. The commission is 5 USD (10 USD round turn), but reduces to 4 USD (8 USD round turn) after 250 lots traded per month. Spreads start at 0.3 pips on the EUR/USD, and all the perks associated with the account tiers (Standard, Premium, and VIP) apply.

Demo Accounts

FXPRIMUS offers a free demo account loaded with 50,000 in virtual funds.  With more than 120 instruments on offer, all clients can enjoy practicing their trading skills on Forex, CFDs Stock Indices, Commodities, Stocks, Metals, and Energies.  Clients can open a maximum of 5 demo accounts. Demo accounts will expire after 90 days from opening or after 30 days of no activity.

Spreads and Commission

Spreads are about average in comparison with FXPRIMUS’ peers. Variable Account holders can expect spreads to start at 1.50 pips on the EUR/USD with no commission charged. Spreads on the ECN Premium Account start at 0.3 pips, and 5 USD per trade is charged in commission (10 USD round turn), which reduces to 4 USD per trade after 250 lots traded.

Scroll for more detailsPreviousNext
Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
FxPrimus
110.5002.5/ 5
ZAR, USD, EUR
1.50 pips
USD 15
0.30 pips
0.80 pips
0.30 pips
USD 0
ACY Securities
11110.54.5/ 5
USD, AUD, EUR, GBP, NZD, CAD, JPY
1.00 pips
USD 10
0.00 pips
1.60 pips
1.20 pips
USD 0
Fortrade
1110.503.5/ 5
EUR, USD, GBP
2.00 pips
USD 20
2.00 pips
2.00 pips
2.00 pips
USD 0

 

FXPrimus Spreads

Deposit and Withdrawal Fees

As a well-regulated broker, FXPRIMUS ensures all Anti-Money Laundering rules are followed.  As such, all funds are returned to the source.  FXPRIMUS charges no fees on deposits and withdrawals and accepts fund transfers across a variety of methods:

  • Banks Transfer: Deposits and withdrawals are free, and FXPRIMUS will cover any bank fees charged by its bank. However, it will not cover any fees charged by your bank or any intermediary banks involved in the fund transfer. Bank transfers can only be made in USD, EUR, SGD, GBP, PLN, or HUF. If you make a transfer in a different currency, your bank will apply a currency conversion fee. The minimum deposit and withdrawal amount for bank transfers is 100 USD and processing time in 2-5 business days.
  • Local Transfer: Deposits and withdrawals are free, and FXPRIMUS will cover any bank fees charged by its bank. However, it will not cover any fees charged by your bank or any intermediary banks involved in the fund transfer.  It accepts bank transfers denominated in MYR, IDR, VND, and THB.    All withdrawals are handled within 24 – 48 hours, during the business working hours.  Note that the funds will be credited to your bank account within 1 business day.
  • Credit Cards: FXPRIMUS accepts both Visa and Mastercard, and no fees are charged for deposits or withdrawals. The minimum deposit and withdrawal amounts are 100 USD. Be aware that deposits can only be made in USD, EUR, SGD, GBP, PLN, and HUF. This means that any deposits made in other currencies will be charged a conversion fee. Processing time for deposits is 5 minutes or less, and withdrawals will take about 24 hours.  Funds will be credited back to your account within 4 – 8 business days. 
  • E-wallets: FXPRIMUS supports withdrawals and deposits from Neteller, Skrill, Bitpay, and Fasapay wallets. No fees are charged for deposits or withdrawals, but the minimum transfer amount is 100 USD. Deposits and withdrawals can be made in USD, EUR, GBP, PLN, and HUF. Deposits will take less than 5 minutes, but withdrawals can take between 24 – 48 hours.

Bonus Structure

FXPRIMUS offers various promotions to suit each trading style.  These include free trading fund offerings or cash rebates as well as real prizes.  See the FXPRIMUS website for more details. 

FXPRIMUS for Beginners

FXPRIMUS offers little in the way of educational support or market analysis.  Although the FXPRIMUS website is fully translated into Malay, none of its educational or market analysis materials are translated.

Educational Material

Education material at FXPRIMUS is split into Educational Videos, Weekly Outlook, Seminars, and Expert Guests. Educational videos are only available for clients, but the Weekly Outlook is available for all visitors to the site.

Scroll for more detailsPreviousNext
Broker
Beginner Course
Advanced Course
Fortrade

 

Analysis Material

Analysis at FXPRIMUS is published on a blog and via the weekly outlook. Neither are detailed or particularly useful for new traders.

Customer Support

Customer support is excellent, responsive, and available 24/5 via WeChat, Zalo, Line, Telegram, Live Chat, WhatsApp, Facebook Messenger, Email, and telephone.  Support is available in Malay.  For the purposes of this review, we conducted two support sessions and found that our questions were answered swiftly and accurately by people with a good knowledge of the company.

Trading Platforms

FXPRIMUS only offers support for the MetaTrader 4 (MT4) trading platform. MT4 is one of the most widely used Forex trading platforms and can also be used to trade other instruments like commodities, cryptocurrency, stock index, and stock CFDs. One of the features that make MT4 popular is its auto trading feature that enables algorithmic trading and strategy backtesting with expert advisors (trading robots).

Scroll for more detailsPreviousNext
Broker
Platform Choice
Copy Trading
Platforms
FxPrimus
111104/ 5
Fortrade
11110.54.5/ 5

 

Trading Tools

FXPRIMUS offers several trading tools for the MT4 platform. These include a Market Manager which allows you to keep tabs on the markets without keeping your platform open and a Sentiment Trader, which tracks the bias or direction of traders using FXPRIMUS.

Scroll for more detailsPreviousNext
Broker
Autochartist
Trading Central
Trading View
FxPrimus
Fortrade

 

FXPrimus Trading Tools

In addition, FXPRIMUS offers a VPS service for clients with an account balance of over 500 USD, the VPS service costs 30 USD per month and provides optimal latency between a traders MT4 account and the FXPRIMUS servers.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the FXPRIMUS offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

FXPRIMUS Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. FXPRIMUS would like you to know that: Forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors. Trading in financial instruments may result in losses as well as profits, and your losses can be greater than your initial invested capital. Before undertaking any such transactions, you should ensure that you fully understand the risks involved and seek independent advice if necessary.

Overview

FXPRIMUS is a well-regulated STP broker with both standard and ECN accounts. Traders will be happy to have a quality broker with a range of base currencies and excellent customer service. Though the only platform supported is MT4, there are several useful tools available to supplement the platform, such as a sentiment indicator and a market analysis plugin. Although education and market analysis are poor, and the commission on the ECN account is rather high, FXPRIMUS offers free deposits and withdrawals and negative balance protection, both of which really highlight FXPRIMUS’ commitment to their clients.

AlertAccepts Malaysian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 platforms support. FxPrimus is regulated by the CySEC, FSCA, and the VFSC.
Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.49/ 5
USD 100
CySEC Regulated Brokers
Financial Services Conduct Authority
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
Vanuatu
Market Maker
Futures
Cryptocurrencies
Forex
Indices
Metals
Stock CFDs
Energies
43
7
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
  • Great customer support
  • High commission
  • Limited education
  • Limited market analysis
1110.503.5/ 5
110.5002.5/ 5
111104/ 5
11110.54.5/ 5
10.50001.5/ 5
11110.54.5/ 5
11110.54.5/ 5
64.54% of retail investor accounts lose money when trading CFDs with this provider
1000:1
0.10 pips
ECN Premium Account
Variable Account
Bank Transfer
Visa
Mastercard
Skrill
Neteller
10 USD / lot - ECN Account
11110.54.08/ 5
USD 50
ASIC Brokers
Vanuatu
ECN/DMA
Forex
Cryptocurrencies
Commodities
Stock CFDs
ETFs
63
5
  • Great platform choice
  • Low minimum deposit
  • Great customer support
  • Wide range of assets
  • Limited educational material
  • Limited market analysis
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
111003/ 5
1110.503.5/ 5
11110.54.5/ 5
111104/ 5
0 of retail investor accounts lose money when trading CFDs with this provider
500:1
1 pips
Bespoke
ProZero
pureECN
Standard
stpECN
zeroECN
Bank Transfer
Visa
Skrill
Fees Included in Spread
11110.54.18/ 5
USD 100
FCA Regulated Brokers
ASIC Brokers
Investment Industry Regulatory Organization of Canada
Market Maker
Forex
Commodities
Metals
Stock CFDs
Energies
ETFs
50
4
  • Good for beginners
  • Great platform choice
  • Well regulated
  • Wide range of assets
  • Wide spreads
11110.54.5/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
1110.503.5/ 5
74% of retail investor accounts lose money when trading CFDs with this provider
100:1
2 pips
Live Account
Visa
Mastercard
Bank Transfer
Neteller
Skrill
Fees Included in Spread
Create Account

Share your knowledge

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Featured Brokers

Close
>