With so much sensitive personal information at risk when you are trading online, it has become more important than ever to ensure you use a broker who provides the highest levels of customer protection. With this said, FXPrimus have made it their primary aim to provide a trading environment that puts customer safety and protection at the centre of everything it does.
Established in 2009 and with over a decade of experience in this space, FXPrimus is one of the leading online brokerages with an almost unrivalled reputation for customer protection. In fact, it is so confident in what it has to offer, FXPrimus has declared itself as the “safest place to trade” online. But how does it stack up against the competition, and is it really the safest place to trade?
FXPrimus resides under multiple financial regulators such as CySEC, VFSC and FSCA, making it one of the most well-regulated brokers on the market today. As a result, FXPrimus has a global presence with multiple offices around the world and can operate in over 200 different countries.
FXPrimus gives instrument variety and account options to make the trading experience flexible and adapted to your style. Major, minor, cross and exotic currency pairs are in abundance, and, if you wish to cross over to other instruments, you may also trade indices, stocks, energies or commodities via CFDs. Trading is delivered through the MetaTrader 4 platform we are all familiar with, which comes in web, desktop, and mobile variations. In addition, the option of micro-lot trading and Islamic accounts are also available.
With low spreads, starting from just 0.1 pips, FXPrimus traders can take advantage of extremely competitive trading conditions, having the option to choose between two types of Spread Accounts, depending on their preferred trading style. Leverage, again, varies depending on the account type and balance and can go as low as 1:1 and as high as 1:1000.*
Do you have confidence in your Forex broker?
FXPRIMUS is one of the few brokers that has created a very high standard for safety, security, operating efficiency, and, lastly, transparency in all matters. Former traders from the retail and hedge fund sectors founded the firm in 2009 with the intention of bringing the power of high frequency processing to both individuals and corporate clients alike.
FXPRIMUS boasts a backbone network of data centers located in New York, London, China (Hong Kong, Seoul), Singapore and Cape Town and, when combined with major liquidity providers, the firm’s Straight-Through Processing (STP) is tough to match in the industry. STP at high volumes allows for scalping, hedging, EAs, and other automated trading strategies to flourish, without the threat of slippage or re-quotes, except under exceptional conditions like a Non-Farm Payrolls release. STP also eliminates the need for back-office trading desk conflicts.
Customer support is multi-lingual and available through phone, email and live chat. Training and support materials abound, with one-on-one assistance, if necessary. Security is also top notch, making FXPRIMUS a company that lives up to its motto: “The Safest Place to Trade.”
Why trade with FXPRIMUS?
Here are a list of good reasons:
- Founded in 2009 by an experienced team of retail and hedge-fund traders;
- Multi-regulated and licensing authority from a dozen global regulatory agencies;
- Client deposits are safely segregated from operating capital in offshore accounts with a Tier-One bank with additional protection provided by national investor compensation insurance schemes;
- Array of major and minor currency pairs with up to 1:1000 leverage*, supplemented by CFD trading in stocks, commodities and indices;
- STP processing system ensures tight variable and fixed spread pricing;
- Tight spreads, especially with Premier ECN set up (one pip or less), with no threat of slippage or re-quotes, except possibly during high volume events;
- MetaTrader4 trading platform available for desktop, web and mobile;
- Training materials and trading tools include alerts, EAs, daily commentary and more;
- Multi-lingual support, 24/5, each trading day;
- One-on-one support;
- Generous promotions;
- Accounts may be individual, joint or corporate, with options for traditional or ECN type pricing with free demo and Islamic accounts also available;
- Make deposits with major credit or debit cards, bank wire transfers, e-wallets, or a host of other local payment processing methods;
- Minimum deposit = USD $100 or its equivalent;
- Trading in standard, mini and micro lots.
Spreads and Leverage*
Two types of spread pricing are offered: variable and Premier ECN. The latter can produce spreads of less than one pip for major pairings, while the former can yield a 2 to 2.5 pip spread for EUR pairings, for example. Leverage* varies by account type and account balance and can range from as low as 1:1 and as high as 1:1000, but margin requirements also vary according to the level of leverage selected. STP and major liquidity providers ensure that all prices are executable, while the Premier ECN pricing option can reduce spreads to a few tenths of a pip for most major pairings.
From a safety perspective, client funds are kept in segregated accounts, away from the operating capital it uses to make trades on a daily basis. These funds are held in Tier-One banks from leading financial institutions and also benefit from a number of different investor compensation insurance schemes.
Numerous national investor protection funds exist that will kick in for another layer of liquidity in case of capital issues.
Additionally, FXPrimus have heavily invested in their trade processing infrastructure, which provides fast, consistent and reliable execution speeds and with added security in the form of 128-bit SSL technology, where high levels of encryption is protecting your personal information.
FXPRIMUS infrastructure dovetails with the very popular MetaTrader4 cadre of trading platform options for desktop, web-based and mobile access, everything available in 30 languages.The benefit of having the firm’s global processing infrastructure combined with MT4 is obvious in speed of execution and reliability. For security purposes, the latest in 128-bit SSL technology encrypts all transaction data and personal information for your peace of mind.
FXPRIMUS is very generous when it comes to promotions, as it is usually running different types of promotions to suit different trading styles. Sometimes, the promotions come in a form of trading or deposit bonuses, while other times they offer especially low spreads on certain trading instruments. Systematically checking their promotions’ page is recommended to access any free trading funds or cash rebates and real prizes.
Currently, FXPRIMUS is offering 3 great promotions**:
- 100% deposit bonus: The company offers to double up any deposit amount, with the possibility to receive up to $10,000 in credit to trade. To make the offer extra enticing, they are adding up to $4 in cashback for every lot you trade.
- 30% trading bonus: The company offers an exclusive 30% Bonus, offering up to $1500 free trading funds to both new and existing clients, simply by depositing a minimum of $500.
- Refer-a-Friend: A promotion that allows you to get as much as $500 in tradable, withdrawal cash for each friend that opens an account and starts trading.
Deposits and Withdrawals
Depositing and withdrawing funds with FXPRIMUS is easy. No matter where you live, you can transfer money using banking wire transfers, major credit and debit cards, e-wallets, and even Bitcoin***. To make it easier still, a variety of local payment alternatives have been installed for your convenience. Check the website for a list. The firm also offers a prepaid MasterCard option that can make withdrawals happen quickly. It is always good advice to keep your AML documentation up to date to avoid any delays when you do need to make a withdrawal request.
Customer service assistants can be accessed via email, live chat and direct phone line any time during market hours in your jurisdiction. Most customer support queries are responded to within a matter of minutes. The team speaks multiple languages, the website is in 11 languages, and the MT4 platform in 30! Support materials exist for every level of trader, including training videos, educational materials, a variety of signals, alert services, and daily commentary to complement your daily trading needs. One-on-one assistance rounds out the package.
Whilst it is hard to directly compare it to all of the competition out there, it is clear that FXPrimus puts the customer at the centre of everything it does. From the design of the trading platform to the various security measures built into the platform from the ground up, FXPrimus certainly takes customer protection seriously.
Every effort has been made to bring the latest benefits to your trading experience with reliability, smooth and quick execution, and security that are hard to match in this industry. You will not find another broker’s website that has such full disclosure on every topic, another transparency trait that exudes credibility and trustworthiness. The firm has become a leader in the Forex industry for many reasons, and it intends to stay there and to set the bar high for its competitors. It may very well be “The Safest Place to Trade.” If you are looking for a broker who is incredibly transparent and offers decent trading conditions, FXPrimus is the way to go!
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Please be advised that certain products may not be available for traders from EEA countries due to legal restrictions.
*Leverage varies based on the financial instrument traded and the relevant regulatory body based in your country of residence, knowledge and experience and regulator.
**Bonuses and promotions are offered based on your country of residence while terms and conditions apply. Under EU Regulations, EU clients are not eligible for these bonus and promotions.
***Cryptocurrencies are offered based on your country of residence while terms and conditions apply.