FXPRIMUS Review

Author By Jeffrey Cammack
Updated: January 12, 2021
Overall Rating
3.39 3.39 / 5
Rated #48 of 50 Recommended Brokers
Min. Deposit
USD 100
Regulators
Trading Desk
Trading Cost
USD 13
Website Language: English
English, Arabic, Indonesian, Malay, Portuguese, Thai, Vietnamese, Chinese
Support Language: English
English, Arabic, Indonesian, Malay, Portuguese, Thai, Vietnamese, Chinese
AlertAccepts South African Clients. Average spread EUR/USD 0.30 pips with 10 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 platform support. FxPrimus is regulated by the CySEC, FSCA, and the VFSC.

Summary

FXPRIMUS is an STP market maker founded in 2009 and fully regulated in South Africa since 2018. Globally acclaimed for offering one of the fastest and most secure online trading environments, the company has a strong focus on customer satisfaction with free deposits and withdrawals and negative balance protection for all clients.

A multi-asset broker, FXPRIMUS offers multiple tradeable instruments including Forex, Commodities, Energies, Indices on the MT4 platform. Both Standard and ECN account types are available, with spreads starting at 1.5 pips on the standard account and 0.3 pips on the ECN account.

Reviews

Regulation
1110.503.5/ 5
Trading Conditions
110.5002.5/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
10.50001.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
1110.503.5/ 5
Beginner Friendly
Poor
Bonuses
100% Deposit Bonus On All Amounts

Account Information

Base Currencies
ZAR, USD, EUR
Number of FX Pairs
43
Copy Trading
No
Hedging Allowed
Yes
Scalping Allowed
Yes
Islamic Account
Yes

Trading Conditions

Min. Spread
0.10
Commission
10 USD / lot - ECN Account
EUR/USD
0.3
GBP/USD
0.8
USD/JPY
0.3
Max. Leverage
1000:1

Company Details

Company Name
FXPRIMUS Group
Founded
2009
Office Locations
Cyprus, South Africa

Is FXPRIMUS Safe?

FXPRIMUS was founded in Cyprus in 2009 and obtained an FSCA licence to operate in South Africa in 2018. FXPRIMUS has offices in Cape Town and Johannesburg and South African clients can count on local customer service and support.

FXPRIMUS is the brand name used by:

  • Primus Global Ltd, regulated by CySEC, with licence no. 261/14.
  • Primus Markets INTL Limited, regulated by VFSC, with registration no. 14595.
  • Primus Africa (Pty) Ltd, regulated by FSCA, with licence no. 46675.

All FXPRIMUS clients in South Africa have negative balance protection, so that they can never lose more money than they have in their trading accounts. Furthermore, all client funds are segregated from FXPRIMUS’ operational funds.

FXPrimus Safety

Trading Conditions

FXPRIMUS’ is a market maker but provides STP execution and offers an ECN account for raw spreads direct from liquidity providers. FXPRIMUS maintains a data centre in Cape Town to provide low latency and fast execution on all trades, regardless of the account type.

Account Types

FXPRIMUS offers a demo account alongside a two different live account types, the Variable Account, and the ECN Premium Account. All accounts have three tiers, Standard, Premium and VIP. Though the spreads do not change between these account tiers, each level requires a higher minimum deposit and provides more perks such as one-on-one customer support and VIP trading signals.

Leverage is set at a maximum of 1:1000 for all accounts, though this is on a sliding scale and leverage will decrease with the size of your trade (1:500 for trades over 1000 USD and down to 1:100 for trades over 100,000 USD)

As an added benefit for South African traders, all accounts have ZAR as an option for the base currency. USD, EUR, GBP, and SGD are also available.

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
ECN Premium Account
USD 100
500:1
0.1
$10.00
Account Details
Variable Account
USD 100
500:1
1.5
None
Account Details

Variable Account

  • Standard: A minimum deposit of 500 USD (or equivalent) is required for this account and there are few added extras. Expect a Daily Market Outlook, SMS Alerts, and a one-on-one consultation when you open your account.
  • Premium: This account requires a minimum deposit of 2500 USD, but account holders will also receive MT4 training as well as live market update telephone calls.
  • VIP: The highest tier of account, the minimum deposit here is 10,000 USD. Account holders will have personal access to a market specialist and will also be provided with VIP trading signals.

FXPrimus Account Tiers

ECN Premium Account

The ECN Premium Account at FXPRIMUS offers tighter spreads in exchange for a commission per trade. Commission if 5 USD (10 USD round turn) and 4 USD (8 USD round turn) after 250 lots traded per month. Spreads start at 0.3 pips on the EUR/USD and all the perks associated with the account tiers (Standard, Premium and VIP) apply.

Spreads and Commission

Spreads are about average in comparison with FXPRIMUS’ peers. For the Variable Account expect spreads to start at 1.5 pips on the EUR/USD with no commission charged. Spreads on the ECN Premium Account start at 0.3 pips and 5 USD per trade is charged in commission (10 USD round turn).

FXPrimus Spreads

Deposit and Withdrawal Fees

FXPRIMUS charges no fees on deposits and withdrawals and accepts fund transfers across a variety of methods:

  • Banks Transfer: Deposits and withdrawals are free and FXPRIMUS will cover any bank fees charged by its bank. It will not, however, cover any fees charged by your bank or any intermediary banks involved in the fund transfer. South African clients should also be aware that bank transfers can only be made in USD, EUR, SGD, GBP, PLN, or HUF. If you transfer from your ZAR account in SA, your bank will also apply a currency conversion fee. The minimum deposit and withdrawal amount for bank transfers is 100 USD and processing time in 2-5 business days.
  • Credit Cards: FXPRIMUS accepts both Visa and Mastercard and no fees are charged for deposits or withdrawals. The minimum deposit and withdrawal amounts are 100 USD. Be aware that although you can withdraw to a ZAR account in SA, deposits can only be made in USD, EUR, SGD, GBP, PLN, and HUF. This means that any deposits made in ZAR will be charged a currency conversion fee. Processing time for deposits is 5 minutes or less and for and withdrawals will take about 24 hours.
  • E-wallets: FXPRIMUS supports withdrawals and deposits from Neteller, Skrill, and ecoPayz wallets. No fees are charged for deposits or withdrawals, but the minimum transfer amount is 100 USD. Deposits and withdrawals can be made in USD and ZAR. Deposits will take less than 5 minutes, but withdrawals can take up to 24 hours.

FXPRIMUS for Beginners

FXPRIMUS offers little in the way of educational support or market analysis but customer service is excellent.

Educational Material

Education material at FXPRIMUS is split into Educational Videos, Weekly Outlook, Seminars and Expert Guests. Educational videos are only available for clients but the Weekly Outlook is available for all visitors to the site.

Analysis Material

Analysis at FXPRIMUS is published on a blog and via the weekly outlook. Neither are detailed or particularly useful for new traders.

Customer Support

Customer support is excellent, responsive, and available 24/5 via WeChat, Zalo, Line, Telegram, Live Chat, WhatsApp, Facebook Messenger, Email, and telephone. For the purposes of this review, we conducted two support sessions and found that our questions were answered swiftly and accurately by people with a good knowledge of the company.

Trading Platforms

FXPRIMUS only offers support for the MetaTrader 4 (MT4) trading platform. MT4 is one of the most widely used Forex trading platforms and can also be used to trade other instruments like commodities, cryptocurrency, stock index, and stock CFDs. One of the features that make MT4 popular is its auto trading feature that enables algorithmic trading and strategy backtesting with expert advisors (trading robots).

Trading Tools

FXPRIMUS offers several trading tools for the MT4 platform. These include a Market Manager which allows you to keep tabs on the markets without keeping your platform open and a Sentiment Trader, which tracks the bias or direction of traders using FXPRIMUS.

FXPrimus Trading Tools

In addition, FXPRIMUS offers a VPS service for clients with an account balance of over 500 USD, the VPS service costs 30 USD per month and provides optimal latency between a traders MT4 account and the FXPRIMUS servers.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the FXPRIMUS offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

FXPRIMUS Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. FXPRIMUS would like you to know that: Forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors. Trading in financial instruments may result in losses as well as profits, and your losses can be greater than your initial invested capital. Before undertaking any such transactions, you should ensure that you fully understand the risks involved and seek independent advice if necessary.

Overview

FXPRIMUS are a well-regulated STP broker with both standard and ECN accounts. South African traders will be happy to have a quality broker with a ZAR account option as well as excellent customer service. Though the only platform supported is MT4, there are several useful tools available to supplement the platform, such as a sentiment indicator and a market analysis plugin. Other advantages at FXPRIMUS are free deposits and withdrawals and negative balance protection, both of which really highlight FXPRIMUS’ commitment to their clients.

AlertAccepts South African Clients. Average spread EUR/USD 0.30 pips with 10 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 platform support. FxPrimus is regulated by the CySEC, FSCA, and the VFSC.
Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.39/ 5
USD 100
43
7
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
  • Great customer support
  • High commission
  • Limited education
  • Limited market analysis
1110.503.5/ 5
110.5002.5/ 5
111104/ 5
11110.54.5/ 5
10.50001.5/ 5
11110.54.5/ 5
1110.503.5/ 5
64.54% of retail investor accounts lose money when trading CFDs with this provider
1000:1
0.10 pips
Yes
Yes
Yes
10 USD / lot - ECN Account
1110.503.63/ 5
USD 200
52
99
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
11110.54.5/ 5
111104/ 5
111104/ 5
110002/ 5
10.50001.5/ 5
111104/ 5
111104/ 5
75% of retail investor accounts lose money when trading CFDs with this provider
30:1
1 pips
Yes
No
Yes
Fees Included in Spread
1110.503.38/ 5
USD 250
47
4
  • Good for beginners
  • Great customer support
  • Copy trading accounts
  • Expensive withdrawals
  • Local regulation only
111003/ 5
110.5002.5/ 5
111104/ 5
111003/ 5
1110.503.5/ 5
111104/ 5
11110.54.5/ 5
73% of retail investor accounts lose money when trading CFDs with this provider
200:1
1.50 pips
Yes
Yes
Yes
Fees Included in Spread
Visit Broker
AlertMost retail CFD accounts lose money. Your capital is at risk.

Share your knowledge

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Featured Brokers

Close
>