FXPRIMUS Broker Review – Forex Trading Platform | TradeForex

FXPrimus Basics

🏛️ Based in	Limassol, Cyprus
⚖️ Regulation	CySEC, VSFC
💰 Minimum Deposit	$15 (2000 Naira)
💳 Deposit Options	Debit Card, Credit Card, Bank Wire, Neteller, Skrill, Trustpay.
💳 Withdrawal Options	Debit Card, Credit Card, Bank Wire, Neteller, Skrill, Trustpay.
📌Open an account	Start Trading with FXPrimus

Our Opinion About FXPRIMUS

FXPRIMUS was first launched in 2009. They are a regulated forex broker with a licence from CySEC. They are also a trustworthy company that ensures a safe trading environment and a high level of client fund protection. As such, they have a great reputation within the forex industry.

FXPRIMUS offers a great online trading environment. They offer trading on over 1000+ instruments including forex, shares, indices, metals, energies, and commodities. They also offer a wide range of account options. You can choose from 4 different account types – all of which come with tight spreads, low commissions, and fast trade execution. You can also choose from three of the best platforms – cTrader, MetaTrader4, and MetaTrader5.

When it comes to trading support, FXPRIMUS offers some great resources including trading calculators, premium trading tools, market analysis tools, copy trading services, and VPS services. They also provide free learning resources such as articles, video tutorials, and educational courses. And on top of all that, FXPRIMUS also provides great customer service and multilingual trading support.

Regulation And Safety

FXPRIMUS is actually the brand name for two separate forex companies – Primus Global Ltd and Primus Markets INTL Limited. While this might seem like a complicated setup, it is important to know that both companies have the appropriate registrations and licences. Here are the details:

• Primus Global Ltd – This company has a licence from the Cyprus Securities and Exchange Commission (CySEC). It is one of the industry’s strictest and most reliable regulators. FXPRIMUS holds licence no. 261/14 and registration number HE 337614.
• Primus Markets INTL Limited – This company has a registration with the Vanuatu Financial Services Commission (VFSC). This regulator oversees the company’s activities and requests yearly reports from FXPRIMUS. Their registration no. is 14595.

Regulations In Nigeria

Traders from Nigeria come under Primus Markets INTL Limited. While this company has less formal regulatory requirements, it is a highly reputable company offering a great level of client fund protection. All companies under the FXPRIMUS trade name offer their traders negative balance protection and other important security measures, such as segregated accounts. As such, they are reliable companies and you can trust them to deliver a great service.

Fund Safety

FXPRIMUS takes client fund security very seriously and implements many stringent measures to help keep their clients money safe. The company holds indemnity insurance of $2.5 million. In addition, they also keep client funds in segregated bank accounts, separate from their own. This is to make sure that FXPRIMUS can’t use clients’ funds for operational purposes.

FXPRIMUS Industry Awards

FXPRIMUS has won several forex awards including best forex broker in Europe (2019). It has also won awards for being the best forex broker in Asia (2019), and best training and education provider (2016).

FXPRIMUS: Legit or Scam?

FXPRIMUS is a legitimate forex broker. They have been offering online trading services for many years and have a big, international client base. They are regulated by some of the strictest financial authorities in the world and operate in line with all the required regulations. In terms of their trading services, they have a nice choice of account types and trading conditions, and offer low minimum deposits. They also have a good range of payment methods and a high level of client fund protection. In our opinion, they are a reliable and trustworthy forex broker.

FXPRIMUS Trading Assets

FXPRIMUS traders have plenty of asset classes to choose from. You can trade over 130 instruments including shares, indices, metals, energy and currency pairs.

FXPRIMUS Trading Instruments

• Forex: FXPRIMUS offers 40+ currency pairs including major, minor, and exotic pairs. You can trade popular instruments including EUR/USD, GBP/USD, USD/CHF, and USD/JPY.
• Shares: They offer 100+ CFDs on shares. You can trade many popular instruments across sectors such as technology, finance, transport, and energy.
• Indices: FXPRIMUS has 15 indices available for trading. You can choose from many popular indices across the American, European, and Asian markets.
• Energies: They offer 4 CFDs on energies. You can trade all of the most common instruments including US Brent and Crude oil.
• Metals: FXPRIMUS only offers trading on 5 metals. They have USD and EUR crosses for silver and gold. They offer trading on copper.

You can find more information about the trading conditions available for each of the asset classes on the FXPRIMUS website.

FXPRIMUS Account Types

FXPRIMUS has four main account types for you to choose from. These are the Primus Cent, Primus Classic, Primus Pro, and Primus Zero. They also have a demo account.

Type	Spreads	Min. Deposit	Max. Leverage	Commission
Cent	From 1.5 pips	$15	1:1000	$0
Classic	From 1.5 pips	$15	1:500	$0
Pro	From 0.3 pips	$500	1:1000	$8 – $10 per lot
Zero	From 0.0 pips	$1,000	1:1000	$5 per lot

Primus Cent Account

This is their cent trading account. As such, it is a great choice for traders with less experience and less trading capital. It comes with an average spread of 1.5 pips and there are no commissions. It also comes with high leverage of up to 1:1000. The FXPRIMUS minimum deposit for this account is $15 and the base currency is USD. It is worth noting the Primus Cent Account is only available on MT4.

Primus Classic Account

This is their main account option. It is another great choice for new forex traders in Nigeria. It comes with many helpful features including copy trading tools. The spreads start from 1.5 pips and there are no commissions. It also comes with leverage of up to 1:500 on MT4 and up to 1:1000 on MT5. The minimum deposit is $15 and the available base currencies are USD, EUR, GBP, SGD & PLN.

Primus Pro Account

The Primus Pro Account has lots to offer both new and more experienced traders. It comes with fast trade execution, tight spreads starting from 0.3 pips, and high leverage of up to 1:1000. There are some additional trading costs. The commission is $8 on the MT5 platform and $10 on the MT4 platform. The minimum deposit is $500 and the available base currencies are USD, EUR, GBP, SGD & PLN.

Primus Zero Account

The Primus Zero Account is the go-to option for advanced forex traders. It comes with great trading conditions and a high leverage of up to 1:1000. As the name suggests, the spreads start from zero pips, making it a great option in terms of trading costs. The commission is also low at $5 per lot. The minimum deposit is $1000 and the available base currencies are USD, EUR, & GBP.

Demo Accounts

The FXPRIMUS demo account is great for beginners who need time to learn about the market and master some basic forex trading skills. It comes with similar trading conditions to the Primus Classic account – with spreads from 1.5 pips and leverage of up to 1:500. There is no minimum deposit as the trading is done with virtual capital. It is also worth noting that the demo account is only on MT4.

Islamic Swap-Free Accounts

FXPRIMUS offers Islamic Swap-Free accounts. This enables traders of Islamic faith to trade without swap charges and widening spreads.

PAMM Accounts

FXPRIMUS offers PAMM accounts. This enables inexperienced traders to sign up for a managed account service. Under the PAMM account model, inexperienced traders allow professional traders to manage their accounts in exchange for a small fee.

FXPRIMUS Leverage

FXPRIMUS offers high leverage of up to 1:1000. However, their leverage works based on a dynamic model. This means that the leverage available will change depending on the size of your trade. For example, you can get 1:500 for trades over $1000 USD, and 1:100 for trades over $100,000. This also means that the leverage will change depending on your level of risk and financial exposure.

FXPRIMUS Spreads

FXPRIMUS offers low spreads across all of its trading accounts. The minimum spread is 1.5 for the Primus Cent account, 1,7 for the Primus Classic account, 0,30 for the Primus Pro account, and 0.0 for the Zero account.

FXPRIMUS Commission

FXPRIMUS offers low commission across all of its trading accounts. The minimum commission is $8-$10 for the Primus Pro account, and $5 for the Zero account. There are no commission fees for the Primus Cent account and the Primus Classic account.

FXPRIMUS Registration – How to Open An Account

As part of our FXPRIMUS review, we looked at their online registration requirements. If you live in Nigeria, then you are eligible to open an online trading account at FXPRIMUS. The registration process is quite simple and you can register online.

The first step is to register online. This is so that FXPRIMUS can gather some basic personal data and create your account. At this stage of the registration process, all you need to do is choose an email address and password. These will be your login details.

The next step is to take a short test about online trading. This is so that FXPRIMUS can determine whether their online trading services are suitable for you. At this stage, all you need to do is show FXPRIMUS that you have the skills and knowledge needed to trade properly. If you pass the test, you will be fully registered and ready to open an account.

The final step is to complete the KYC process, submit your documents, and choose your preferred account type. This is so that FXPRIMUS can process your trades. At this stage, all you need to do is deposit funds, using your chosen payment method.

FXPRIMUS Registration – How To Verify An Account

To open a live trading account you’ll need to show FXPRIMUS a proof of ID and a proof of address. This is so that they can check your identity and verify your account. The account verification process is simple. You can provide copies of your National ID card, Passport or Driving License . You can also provide copies of a utility bill or a bank statement registered in your name. After you have verified your account, you can add funds and start trading.

Forex Bonuses

FXPRIMUS offers their new forex traders two very generous welcome bonuses: a 30% deposit bonus or a 100% deposit bonus. T&Cs apply on both bonuses.

FXPRIMUS Payment Methods

As part of our FXPRIMUS review, we looked at what payment options are available. As an international broker, they try to offer a wide range of both traditional payment methods and local payment solutions. In general, they also try to offer fast transaction times and low transaction fees.

FXPRIMUS Deposits

Deposit Methods

FXPRIMUS accepts many deposit methods including debit cards, credit cards, bank wire transfers, Neteller, Skrill, and Trustpay.

Minimum Deposits

The minimum deposit varies depending on which account type you choose. The minimum deposit is $15 for the Primus Cent account, $15 for the Primus Classic account, $500 for the Primus Pro account, and $1000 for the Primus Zero account.

Deposit Times

The FXPRIMUS deposit times are about average. The time for credit cards is around 5 minutes. The deposit time for e-wallets is also 5 minutes. However, some payment methods take longer. The time for bank transfers is 2-5 working days. The deposit time for local transfers is between 1-5 working days.

Deposit Fees

FXPRIMUS does not apply any deposit fees. However, there are some instances in which you may incur charges. For example, It’s important to keep in mind that FXPRIMUS does not accept 3rd party deposits. If any 3rd party funding is received this will be refunded and costs applied to the 3rd party.

FXPRIMUS Withdrawals

Withdrawal Methods

FXPRIMUS accepts many withdrawal methods including debit cards, credit cards, bank wire transfers, Neteller, Skrill, and Trustpay.

Withdrawal Times

The FXPRIMUS withdrawal times are about average. The deposit time for credit cards is around 5 minutes. The withdrawal time for e-wallets is also 5 minutes. However, some payment methods take longer.The withdrawal time for bank transfers is 2-5 working days. The withdrawal time for local transfers is 1-5 working days.

Withdrawal Fees

FXPRIMUS does not apply any withdrawal fees. However, there are other fees that may apply in some instances. For example, if you wait a long time to withdraw your money, then you may incur inactivity fees. For example, if your account is inactive for three months, then FXPRIMUS will charge an initial fee of 30 USD. If you continue to remain inactive, then they will charge you a further $10 fee every month.

Withdrawal Problems

FXPRIMUS is a regulated forex broker. As such, it takes client fund protection very seriously. It is possible that during the withdrawal process, they may ask you to provide additional documentation or to use an alternative payment method. This is so that they can ensure the money goes to the right person, via the right payment transaction. If you follow all the correct FXPRIMUS withdrawal procedures, then you should not encounter any withdrawal problems.

Trading Platforms

FXPRIMUS offers three of the industry’s best and most powerful online trading platforms. You can choose from MetaTrader4, MetaTrader5 and cTrader.

• MetaTrader4 – MetaTrader4 (MT4) is the world’s leading trading platform for new forex traders. It has a very user-friendly interface and comes with many handy, built-in trading tools. You can use it to trade all of the most popular and liquid trading instruments including forex, stocks, and indices. The FXPRIMUS MT4 trading platform has helpful charting tools, 4 order execution types, 30 technical indicators, and 23 analytical objects.

• MetaTrader5 – MetaTrader5 (MT5) is also a popular online trading platform for beginner traders in Nigeria. It has an easy-to-use interface and comes with lots of helpful trading tools. You access and trade all of your favourite markets including forex, shares, and crypto. It is very easy to navigate. The FXPRIMUS MT5 trading platform also has many great features including 6 order execution types, 38 indicators, and 37 analytical objects.

• cTrader – cTrader is a well-known and powerful trading platform. It comes with a clean, customisable interface that is easy to navigate. As with MT4 and MT5, you get access to a wide range of CFD trading instruments including forex, metals, and stocks. The FXPRIMUS cTrader platform comes with 6 order types, 55 technical indicators, an economic calendar, and market sentiment tools.

Trading Tools

FXPRIMUS believes in empowering traders with the tools and platforms they need to trade profitably. When you open a live account, you can find a variety of helpful tools to assist with your trading. You can sign up for SMS alerts to receive market news and updates. You can also use their selection of downloadable trading tools.

• Economic Calendars – They offer a free economic calendar to help you stay on top of market news. The economic calendar covers all of the most important economic data releases from around the world. It also includes detailed explanations and forecasts of each data release. As such, it makes tracking news and predicting price movements much easier.

• Trading Calculators – They have a range of trading calculators that you can use to plan your trades, manage your risk, and implement more effective trading strategies. The available trading calculators include a pip calculator, a Fibonacci calculator, a currency calculator and a pivot calculator.

• Premium Trader Tools – FXPRIMUS gives you access to high quality trading technology. Their Premium Trader package comes with 12 downloadable trading tools including Trade Terminal, Mini Terminal, Connect, Sentiment Trader, Session Map, and Alarm Manager. You also get access to Excel RTD, Market Manager, Correlation Matrix, Correlation Trader, Tick Trader, and the MT4/MT5 Indicator Package.

VPS Services

The FXPRIMUS VPS Service is free for clients that have at least $500 (or currency equivalent) in their account, and who trade a minimum of 5 standard lots round-trip on a monthly basis. The service is also available to other FXPRIMUS clients but they will need to pay $30 per month. A VPS service is ideal for forex traders who want more stability and flexibility. This is because it enables you to trade with optimum technical conditions and consistent connectivity.

Education and Research

FXPRIMUS places a high value on trader education. They understand how important it is for traders to have access to the right resources and for them to help their traders develop the skills they need to trade successfully.

FXPRIMUS offers a wide range of free educational materials, free online articles, and video tutorials. They cover a wide range of topics including how to open an account, how to set up your trading platform, and how to make your first trade. They also cover important topics related to fundamental analysis, technical analysis, risk management, and trading psychology.

FXPRIMUS also offers educational courses. If you are looking for face-to-face training, you can sign up for one of FXPRIMUS’ free seminars. They offer many events throughout the year. The seminars are open to anyone interested in learning more about online trading. You can find their list of upcoming seminars online and, if there is one nearby, you can register for a place online.

Trading Hours

FXPRIMUS operates during standard trading hours. You can open trades whenever the forex market is open. Trading hours may vary on public holidays

FXPRIMUS Customer Support

As a regulated broker, FXPRIMUS ensures it always available to help their clients. They have a friendly customer support team that can speak several languages. Moreover, they have several convenient contact options including contact forms live chat, email, or phone.

Accepted Countries

FXPRIMUS accept clients from most countries including Nigeria. The residents of certain countries/jurisdictions including, Australia, Belgium, Canada, France, Iran, Japan, North Korea, Singapore and USA cannot open accounts.

Our Verdict

FXPRIMUS is a market-leading forex broker that offers a high level of trading support and client fund safety. Its high quality educational materials and market analysis make it a suitable choice for new traders. FXPRIMUS has excellent trading conditions and advanced trading technology. As such, it is a great choice for experienced traders as well.

FXPRIMUS Forex Broker Review – FAQ

Ready to start trading? Register for an online trading account with FXPRIMUS here.

FXPRIMUS Forex Broker Review – Similar Brokers

FXPRIMUS is a great forex broker. However, if you want to also consider other forex companies, there are plenty more options for Nigeria. Here are some similar brokers.

Looking for more options? Take a look at more of our forex broker reviews.