This broker has also been regulated by CySEC 261/14, FSCA 46675 and VFSC 14595.
Extensive Review
Branding their trading service as a three-pronged approach of safety through technology and education, FXPRIMUS is a broker operated by Primus Markets INTL Limited, a member company of the FXPRIMUS Group regulated by Vanuatu Financial Services Commission (VSFC). Other members in the network include Primus Global Ltd (regulated by CySEC) and Primus Africa (Pty) Ltd (regulated by FSCA).
Founded in 2009, FXPRIMUS brought their safety assurance with several programs like negative balance protection, segregated account, top-tier liquidity, third-party monitoring, and professional indemnity insurance of €2.5 million.
As for the main trading conditions, FXPRIMUS offers spread from 0.1 pips with a minimum trading size of 0.01 lot. Trading instruments in FXPRIMUS cover most of the highly traded assets in the financial market, starting from forex major pairs, equities, indices, energies, precious metals, and cryptocurrencies.
Interestingly, trading in FXPRIMUS also leads to the offering of two special accounts seemingly based on spread and/or execution, which are Variable and ECN Premium accounts. Traders who register under the ECN account would be served with the lowest spread starting from 0 pip. As much as its flexibility to present many kinds of trading accounts, FXPRIMUS doesn't describe the trading specifications for every account in great detail.
Therefore, traders may face difficulties when doing some research on additional but important specs such as maximum leverage, Stop Out and Margin Call levels for each account, etc. Nonetheless, spread and swap details are provided thoroughly on a special page labeled as Live Spreads and Swap. This reflects on FXPRIMUS' commitment as a transparent broker.
On the deposits and withdrawals front, FXPRIMUS generously gives traders with 0% fee policy. It enables traders to be more flexible in managing their deposit and withdrawal numbers without considering the number of fees that may be applied to their transactions. The payment methods vary from Wire Transfer, Credit Card, electronic payment like FasaPay and Skrill, as well as Bitpay that facilitates cryptocurrencies' holders.
Although the minimum deposit following an account opening in FXPRIMUS is quite high for new traders, this broker greatly emphasizes the importance of educational features. Traders can take advantage of numerous features like Weekly Outlook, Expert Guests, tutorial videos, and Webinars that serve educational purposes as well as analytical importance.
Unfortunately, FXPRIMUS hasn't upgraded its platform to a dual offering with MT4 and MT5. The broker still focuses on MT4 as the only trading platform for its traders, even though it tries to be at the forefront of high-end brokers in terms of technology advancement by providing VPS, Platinum API, and an in-house PAMM platform.
In conclusion, FXPRIMUS is an ideal broker to traders looking for safety aspects and mid-level trading technology. Considering its minimum deposit standard, it is recommended for traders with intermediate-level experience.