FXPrimus

FxPrimus is an online Forex and CFD broker with registered offices in Cyprus, Vanuatu and South Africa. FxPrimus broker accepts clients from all over the world with the exception of the USA, Australia, Belgium, France, Iran, Japan, North Korea and some jurisdictions from the OFAC list.

Is FxPrimus a regulated broker?

Forex broker FxPrimus was founded in 2009 in Cyprus. The FxPrimus group includes three brokerage companies:

• Primus Global Ltd is located in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC);
• Primus Africa (Pty) Ltd is located in South Africa and is regulated by the Financial Sector Supervision Authority (FSCA);
• Primus Markets INTL Ltd is located in the Republic of Vanuatu and is regulated by the Vanuatu Financial Services Commission (VFSC).

The Cyprus-registered branch was established mainly for traders from the EU and follows the rules of the European Securities and Markets Authority (ESMA), while other branches are intended for traders from other countries.

All client funds are kept separately from the company's funds in special segregated accounts, and are also protected in case of bankruptcy of the broker. Moreover, FxPrimus additionally insured its clients' accounts for up to 5 million euros.

What is the maximum leverage in FxPrimus?

Keep in mind that a brokerage company in Cyprus has some trading restrictions due to the influence of ESMA. So, for traders from the EU, there are restrictions on leverage up to 1:30. However, the uniqueness of FXPrimus lies in the fact that the branch in Vanuatu also accepts European traders on request. Thus, European traders will also have access to high leverage, typical of theoffshore brokers. In the case of FXPrimus, this leverage reaches 1:1000.

What types of accounts does FxPrimus offer?

FXPrimus is a classic STP broker that does not execute trades by itself. In other words, all transactions are transferred directly to the external liquidity pool without any intervention from the broker.

FXPrimus offers the following types of trading accounts:

1. Micro. A starter account for novice traders with a minimum deposit of $ 10 and an average spread of 1.4 points.
2. Variable. An account with a floating spread of 1.4 points and a minimum deposit of $ 15.
3. ECN. ECN is an account with a minimum deposit of $ 500, narrow spreads of 0.1 pips and a commission of $ 10 per lot.
4. VIP ECN. An advanced ECN account with a minimum deposit of $ 25,000, a narrow spread of 0.1 pips and a commission of $ 5 per lot.

Please note that trading conditions may differ from the broker's jurisdiction and the country of your residence.

Also, a PAMM account service is available for traders, which allows investors to earn on Forex without trading experience and strategy, and managing traders to receive additional income in the form of commissions for profitable trading.

Trading instruments

The assets offered for FXPrimus trading include Forex currency pairs, major stock indexes, precious metals, energy carriers and cryptocurrencies. As for trading cryptocurrency with FXPrimus, it is worth noting that it is only available on weekdays. However, since the underlying cryptocurrency market is also trading over the weekend, large price gaps up or down should be expected between Friday's close and Monday's opening. To eliminate this risk, some tradesThey may not store CFDs on cryptocurrencies on weekends.

Trading Platforms

As for trading platforms, FXPrimus is one of those brokers that rely on the classic MT4 and MT5 platforms. As many already know, these platforms are available in the standard version for Windows computers, as well as in the Mac version and the web version for use on any computer.

What is the minimum deposit in FXPrimus?

The minimum deposit in FXPrimus starts at $10. You can top up your deposit via international bank transfer, debit / credit cards and e-wallets Skrill, Neteller, Bitpay, Fasapay, UnionPay and others.

Conclusions

FXPrimus is a pretty good choice for traders who need high leverage for various underlying assets on the MT4 platform. Leverage of 1:1000 is one of the highest in the industry these days, and this may be attractive to some traders, however, it is important to remember that even a small mistake can be enough to destroy the entire trading account.

Before choosing a broker, we recommend that you read the reviews of FXPrimus, as well as see our rating of Forex brokers.