FXPrimus Review 2024
Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 72-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Our team's review of FXPrimus reveals that it is a satisfactory choice for forex and CFD traders, although it doesn't quite reach the pinnacle of the industry offerings. Our testing and assessment showed that it offers a moderate range of forex pairs and trading symbols, supported by a decent suite of trading platforms.
Overall Rating
Minimum Deposit
Trust Score
Pros and Cons
Pros
- Platform Availability: FXPrimus supports popular platforms including MetaTrader 4, MetaTrader 5, and cTrader catering to a wide range of trading preferences.
- Mobile Trading Support: The broker provides mobile trading applications that are well-regarded in the industry.
- Copy Trading Enabled: Allows traders to engage in copy trading, which could be beneficial for those looking to emulate the strategies of more experienced traders.
Cons
- Limited Educational Resources: Lacks advanced and beginner education videos, which could be a drawback for new traders seeking to learn.
- No Trading Signals: Does not offer trading signals, which can be a significant disadvantage for traders who rely on these for making informed decisions.
- Limited Forex Pairs: Only 42 forex pairs are available, which might not satisfy traders looking for broader currency exposure.
Ratings Summary
- Investment Types - 6.5/10
- Commissions & Fees - 7.5/10
- Trading platforms - 7.5/10
- Research - 6.0/10
- Mobile Apps - 7.5/10
- Education - 6.5/10
- Overall - 7.0/10
Can I trust FXPrimus?
Based on our research and industry data from ForexBrokers.com, FXPrimus is considered to have an "Average Risk" trust score. Although it is not publicly traded and lacks authorisation from some top-tier regulators like ASIC and the FCA, it does hold MiFID regulation. This regulatory framework provides a standard level of trust and safety for traders within the European Economic Area.
FXPrimus is currently licensed and/or authorised by the following regulatory bodies:
- Tier-1 Regulators - Regulated in the European Union via the MiFID passporting system
- Tier-2 Regulators - None
- Tier-3 Regulators - None
- Tier-4 Regulators - Vanuatu Financial Services Commission (VFSC)
Is FXPrimus good for beginners?
For beginners, FXPrimus might not be the best option available. The lack of both advanced and beginner educational videos means new traders will not have as much support as they might find with other brokers that offer comprehensive educational resources.
| Feature |
FXPrimus
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Videos - Beginner Trading Videos | No |
| Videos - Advanced Trading Videos | No |
| Investor Dictionary (Glossary) | No |
FXPrimus commissions and fees summary
FXPrimus offers a competitively structured fee arrangement, marked by an absence of inactivity fees and average commission costs, although specific spread costs are not provided. This broker's fee structure aligns closely with industry standards.
| Feature |
FXPrimus
|
|---|---|
| Minimum Deposit | $100 |
| Average Spread EUR/USD - Mini | N/A |
| Average Spread EUR/USD - Standard | N/A |
| All-in Cost EUR/USD - Active | N/A |
| Active Trader or VIP Discounts | No |
FXPrimus trading platforms and tools
Did you know? Trading platforms comparison
Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.
In our evaluation, FXPrimus provides a satisfactory range of trading platforms and tools, which we consider average for the industry. With access to popular platforms like MetaTrader 4, MetaTrader 5, and cTrader, alongside a proprietary platform, traders have a decent suite of tools to enhance their trading experience. However, it's worth noting that while these platforms are widely recognized, the broker's overall offering does not stand out significantly in the crowded market space.
Trading platforms offered: FXPrimus provides MetaTrader 4, MetaTrader 5, cTrader, and a proprietary platform to accommodate various trading strategies and preferences.
Trading tools: The broker offers a standard set of trading tools appropriate for typical trading activities.
Copy trading: FXPrimus supports copy trading, allowing less experienced traders to replicate the positions of seasoned traders.
| Feature |
FXPrimus
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| DupliTrade | No |
Mobile trading apps at FXPrimus
FXPrimus provides competent mobile trading applications that adequately serve traders looking to manage their portfolios from mobile devices.
| Feature |
FXPrimus
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Watchlist | Yes |
How do I open an account with FXPrimus?
Opening an account with FXPrimus is a straightforward process that can be completed in a few steps. Here’s how you can start:
- Visit the FXPrimus website: Navigate to their official website and find the account registration page.
- Fill out the application form: Provide all required personal information, such as your name, address, and email, along with financial details and your trading experience.
- Verify your identity: Submit identification documents such as a passport or driver’s license and a utility bill or bank statement for address verification, as per regulatory requirements.
- Fund your account: Once your account is verified, you can fund it using one of the accepted methods like credit cards, bank wires, or e-wallets.
- Start trading: With your account funded, you can begin trading forex and CFDs on the platform.
What can I trade at FXPrimus?
At FXPrimus, traders have access to a selection of 42 forex pairs and a total of 140 tradeable symbols. Compared to the industry average of 3,623 tradeable symbols, FXPrimus offers a significantly smaller selection, which might be limiting for traders looking for extensive market coverage. However, this range might still be suitable for those who focus primarily on major markets or specific trading strategies.
| Feature |
FXPrimus
|
|---|---|
| Tradeable Symbols (Total) | 140 |
| Forex Pairs (Total) | 42 |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Spread Betting | No |
Account funding at FXPrimus
FXPrimus provides multiple options for account funding, catering to a variety of preferences.
| Feature |
FXPrimus
|
|---|---|
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | Yes |
| Neteller (Deposit/Withdraw) | Yes |
About FXPrimus
FXPrimus was established in 2009, positioning itself as a broker offering a wide range of platforms in the forex and CFD trading industry. Those platforms include popular choices like MetaTrader 4, MetaTrader 5, and cTrader, alongside a proprietary platform. This makes FXPrimus a competitive option for traders looking for a regulated broker that offers a small range of trading symbols.
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Methodology
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
AI disclaimer
We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.
Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.