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Broker Review Contents
FXPrimus is a forex trading platform. They provide traders with access to key markets such as currencies, indexes, commodities, and stocks.
- Segregates client funds
- Established in 2009
- Regulated by CySEC, MiFID
- Min. deposit from $100
- Limited range of instruments
- Not FCA Regulated (See alternatives)
A minimum deposit of $100 is required to establish a live account. Alternatively, FXPrimus provides a demo account that you may use to practise and become familiar with their platform.
Regulated by CySEC (Licence: 261/14), FXPrimus keeps all customer funds in a separate bank account and works with tier-1 institutions to do so. FXPrimus has been in business since 2009 and has its headquarters in Cyprus.
Before we get into the specifics of FXPrimus’ spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information straight from them.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are FXPRIMUS’s spreads & fees?
Like most brokers, FXPRIMUS takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commissions and spreads shown here are based on the FXPrimus website’s minimum spreads.
|EUR/USD(Average: 0.7 pips)||0.5 pips||0.7 pips||0.1 pips|
|GBP/USD(Average: 1.1 pips)||1.0 pips||1.7 pips||0.1 pips|
|USD/JPY(Average: 1.1 pips)||0.6 pips||0.6 pips||0.1 pips|
|AUD/USD(Average: 0.8 pips)||1.1 pips||0.6 pips||0.2 pips|
|USD/CHF(Average: 2.3 pips)||1.1 pips||2.3 pips||0.2 pips|
|USD/CAD(Average: 2.9 pips)||1.1 pips||0.5 pips||0.3 pips|
|NZD/USD(Average: 3.6 pips)||1.3 pips||2.8 pips||0.3 pips|
|EUR/GBP(Average: 2.4 pips)||1.3 pips||0.5 pips||0.1 pips|
As you can see, the minimum spread for trading EUR/USD at FXPrimus is 0.5 pips, which is relatively low when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with FXPrimus to similar brokers.
How much does FXPrimus charge to trade 1 lot of EUR/USD?
If you bought one standard lot of EUR/USD (100,000 units) with FXPrimus at an exchange rate of 1.1719 and sold it the next day at the same price, you would most likely pay $3.1. Here is a general breakdown of the fees and how they compare to IG and XTB.
|Spread from:||$ 5.00||$ 6.00||$ 2.00|
|Total cost of a 100k trade:||$ 5.00||$ 6.00||$ 2.00|
|$1 more||$3 less|
|VISIT FXPrimus||VISIT IG||VISIT XTB|
All fees/prices are for informational purposes and are subject to change.
What can you trade with FXPrimus?
FXPrimus offers over 125 different trading instruments, including over 43 currency pairs. Below, we’ve summarised all of the different types of instruments provided by FXPrimus, as well as comparisons to the instruments provided by IG and XTB.
|FX / Currencies||FXPrimus||IG||XTB|
|# of forex pairs offered||43||90||48|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||0||34||21|
|Index & Stock CFDs||FXPrimus||IG||XTB|
|# of stocks offered||60||8000||1606|
|SEE FXPRIMUS’S INSTRUMENTS||SEE IG’S INSTRUMENTS||SEE XTB’S INSTRUMENTS|
What’s the FXPrimus trading experience like?
1) Platforms and apps
FXPrimus is among the few brokers that provides both the MetaTrader 4 and MetaTrader 5 platforms. To discover how the two systems differ, check out our MT4 versus MT5 comparison. Traders may trade with their preferred device thanks to the mix of downloading platforms for both Mac and Windows.
They now provide mobile apps for Android and iOS, making it simpler to monitor and execute trades while on the go.
Still not sure?
2) Executing Trades
FXPrimus allows to perform a 0.01 Lot trade. This may differ based on the type of account you establish. They allow you to conduct a maximum of 80 lot trades. Because FXPrimus provides ECN and STP execution, you may anticipate incredibly narrow spreads and greater transparency into the price you pay to execute your transactions.
FXPrimus, as a market maker, may have lower entry criteria than an ECN. A broker who benefits from a higher number of trades and has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
As an added benefit, FXPrimus is one of the few brokers who claim no requotes, so you won’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).
Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
Finally, we’ve included a list of some of the most popular funding options available to FXPrimus traders below.
- Allows scalping
- Allows hedging
- Offers STP
- Low min deposit
- Demo account
- Micro account
- Mini account
- Standard account
- ECN account
- Managed account
- Islamic account
- Credit cards
- Bank Transfer
3) Client support
English, Spanish, Indonesian, Chinese, Thai, Vietnamese, Hungarian, and Malaysian are among the languages supported by FXPrimus.
4) What you’ll need to open an account with FXPrimus
Because FXPrimus is regulated by CySEC and MiFID, every new customer must go through a few simple compliance checks to confirm that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to explore their site immediately, it is essential to know that you will not be able to execute any trades until you have passed compliance, which can take several days depending on your situation.
79% of retail investor accounts lose money when trading CFDs with this provider.