Forums » News and Announcements
FXPRIMUS Review 2023
-
FXPRIMUS Review 2023
FXPrimus is a legit and safe broker, fully compliant with two regulators. Traders at the CySEC subsidiary get an investor compensation fund, covering up to 90% of deposits up to a limit of €20,000. FXPrimus segregates client deposits from corporate funds, offers negative balance protection, and has a clean regulatory track record with over twelve years of experience.To get more news about fxprimus review, you can visit wikifx.com official website.
International clients will trade with the Vanuatu subsidiary, while EEA traders deal with the CySEC unit. Primus Global, the CySEC-licensed entity, acts as the headquarters for the group and Primus Solutions Ltd (HE 410155), Primus Global Ltd (HE 337614), and Primus Support Ltd (HE 384585). All three may provide services to Primus Global and Primus Markets INTL, the Vanuatu subsidiary.
The commission-free pricing environment begins with an expensive 1.5 pips or $15.00 per round lot and is the only one that offers MT4 and cTrader. FXPrimus has two commission-based alternatives, one priced in the mid-section of the market with minimum spreads of 0.3 pips for a commission of $8.00 per lot for total fees of $11.00, and one highly competitive one with raw spreads from 0.0 pips for a commission of $5.00.
Equity trading remains commission-free, and swap rates on leveraged overnight positions remain low, increasing the cost advantage for active, leveraged traders. I highly recommend the Primus Zero account, which ranks among the cheapest ones available.One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.Forex traders at FXPrimus (through the Vanuatu entity) get maximum leverage of 1:1000 in the Prime Cent, Classic, and Pro accounts and 1:500 in the Primus Zero alternative. It is a highly competitive offer, providing traders with an edge. Negative balance protection exists, ensuring traders cannot lose more than their deposit.
FXPrimus offers traders demo accounts and does not list a time limit on its website. Demo accounts are ideal for testing new trading strategies and bug-fixing algorithmic trading solutions. Traders can swiftly create them in MT4/MT5, but I recommend a demo account balance similar to their planned live deposit. I also want to caution beginner traders against using a demo account as an educational tool. It creates unrealistic trading expectations, and the absence of trading psychology negates the educational value.
Education for beginners consists of videos and written content. The former has eleven video tutorials, which guide beginner traders through the account opening, verification, and funding, installing the MT4 trading platform and registering as a partner.
The written content features high-quality and well-written topics. I recommend beginners read them to understand some basics before enhancing their education with trusted third-party sources available online free of charge.FXPrimus provides 24/5 customer support, ensuring traders have access when financial markets are open. Traders may e-mail, use a web form, or messenger apps Messenger, WhatsApp, WeChat, Zalo, Line, and Telegram.
Regrettably, phone support is unavailable, and a direct line to the finance department where is missing. I recommend the messengers for non-urgent questions. FXPrimus explains its products and services well, but an FAQ section is unavailable. This could result in beginner traders engaging with customer support more than usual.
At the time this review was written, FXPrimus listed a 25% deposit bonus through its Vanuatu subsidiary, accessible from the back office after registration, as FXPrimus does not list it publicly. A partner account is available, but no details concerning the affiliate offer exist. Terms and conditions apply, and I recommend traders read and understand them before accepting any bonus.