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FXPRIMUS – Forex Broker Review 2022

About FXPRIMUS

FXPRIMUS was first launched in 2009. They are a regulated forex broker with a licence from CySEC. They are also a trustworthy forex broker 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 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.

FXPrimus Basics

BrokerFXPrimus
🏛️ Based inLimassol, Cyprus
⚖️ RegulationCySEC, FCA, DFSA, FSCA
💰 Minimum Deposit$5 (2000 Naira)
💳 Deposit OptionsCrypto, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, WebMoney, Bank Wire
💳 Withdrawal OptionsCrypto, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, WebMoney, Bank Wire
📌Open an accountStart Trading with FXPrimus

Regulation

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 is 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 industry’s strictest and most reliable regulators. FXPRIMUS holds license 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.

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.

Trading Instruments

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

  • 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. You will be able to see the trading hours, contract type, and minimum lot size.

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. You can use these trading tools to work on your market analysis and create your own trading strategies.

MetaTrader5

MetaTrader5 (MT5) is also a popular online trading platform for beginner traders in Nigeria. It has a 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 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. As such, it has slightly more functionality than MetaTrader4 and offers you more analysis tools.

cTrader

cTrader is a less well-known but equally 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. cTrader comes with 6 order types, 55 technical indicators, an economic calendar, and market sentiment tools. As such, it a great trading platform that you can easily use to analyse the markets and implement your trades.

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.

Account Types

FXPRIMUS has four main account types for you to choose from. These are the PrimusCent, PrimusClassic, PrimusPro, and PrimusZero. They also have a demo account.

PrimusCent Account

This is their micro 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 nothing the PrimusCent Account is only available on MT4.

PrimusClassic 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.

PrimusPro Account

The PrimusPro Account has lots to offer both new and more experienced traders. It comes with fast trade execution, tight spreads starting from 0.3pips, 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.

PrimusZero Account

The PrimusZero Account is the go-to option for advanced forex traders. It comes great trading conditions and a high leverage of up to 1:1000. As the name suggest, 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 Account

The FXPRIMUS demo account is great for beginners who need to time to learn about the market and master some basic forex trading skills. It comes with similar trading conditions to the PrimusClassic 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.

FXPrimus

FXPRIMUS Deposits & Withdrawals

FXPRIMUS accepts many payment methods including debit cards, credit cards, bank wire transfers, Neteller, Skrill, and Trustpay. It is generally a very quick and easy process.

Fund Safety

FXPRIMUS take 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.

Trading Tools

FXPRIMUS believe in empowering traders with the tools and platforms they need to trade profitable. 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 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.

Education

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.

VPS Services

The FXPRIMUS VPS Service is free for clients that have at of 500 USD (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.

VPS Services

A VPS service is ideal for forex traders who want more stability and flexibility. This because it enables you to trade with optimum technical conditions and consistent connectivity. You can use VPS services to run automated algorithmic strategies, including Expert Advisors, 24 hours a day 7 days a week, on a virtual machine. You can also use it to minimize the risk of system downtime due to unexpected power failures, Internet cuts, physical difficulties, and computer shutdowns.

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).

Documents

As part of the account opening process, you need to provide FXPRIMUS with certain documents. These include a proof of ID and a proof of address. There is a limited list of documents that FXPRIMUS accepts. These include copies of your passport, driver’s licence, recent utility bills or bank account statements.

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.

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.

Conclusion

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.

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