Analysis Of FXPrimus – Forex And CFD Broker

FXPrimus – Broker Review

FXPrimus is a Non Dealing Desk/STP Forex broker created in 2010 that allows to trade in the Forex market with the main currency pairs, precious metals like gold and silver and Contracts For Difference based in several assets (commodities and the main stock indices). Currently, is a regulated broker in Europe.

Currently it is fully regulated and has offices in several countries around the world.

Type of broker

FXPrimus is a Non Dealing Desk/STP (Straight Through Processing) Forex broker.

Regulation

This broker is regulated by the FSC (Financial Services Commission), the main regulator for financial companies of Mauritius.

Country of origin

The headquarters of the company are located in Mauritius.

Trading Instruments

  • Forex market: The most important currency pairs of the Forex spot market can be traded directly in FXPrimus. For the major currency pairs like the EUR/USD, the spreads can be as small as 1 pip, but of course that depends on the market conditions.
  • Commodities in the spot market:  Metals like gold and silver can be traded directly in the spot market.
  • Contracts For Difference: CFD`s based in the most important Futures of the following instruments: Metals (gold and silver), energy commodities (oil, natural gas, heating oil, gasoline), indices (S&P 500, Nasdaq and Dow Jones), grains (corn, wheat, soybean) and others such as cotton, coffee and sugar and crypto.

The trading conditions of the CFD with FXPrimus depends on the instrument on which are based.

Trading Accounts​

FXPrimus offer a unique trading account for individual costumers that can be opened with a minimum of $250. However, is a very versatile and functional account that allow to trade with micro, mini and standard lots. This trading account is designed in 3 versions depending of the type of execution that the client wants. For that reason, this account is suitable for beginners and professional traders. These 3 versions are the following:
  • Individual Account with fixed spreads: This type of account be opened with $250
  • Individual Account with variable spreads: It can be opened with $250.
  • Individual Account ECN Premier: This account requires an initial investment of $2500.
These 3 account versions offer the possibility to trade with Forex, Commodities and Contracts For Difference. Also, this broker offers two account options for big investors:
  • Corporate Account.
  • Money Manager Account.

Demo Accounts

It offers a demo account with no limit of time.

Trading Platforms

This broker offer one trading platform based on Metatrader 4. This is a downloadable application that can be used to trade any instrument offered by FXPrimus. Is a trading platform that offer a lot of market analysis tools such as advanced charts and many technical indicators which can be very useful for the expert trader.

Metatrader 4 also allow the creation, execution and testing of automated trading systems called Expert Advisors (EA) which are based in all kind of trading strategies.

Payment Options

For the moment, FXPrimus accepts only bank wire transfer and credit card (the most important like VISA, American Express MasterCard).

Main Advantages of FXPrimus

  • FXPrimus is an NDD/STP broker, for that reason it offer excellent trading conditions such as low spreads and fast executions.
  • No requotes during normal market activity due its condition of Non Dealing Desk broker.
  • It offers ECN execution through the ECN account.
  • Is a Metatrader 4 broker.
  • FXPrimus offers the possibility of execute automated trading systems through Metatrader 4.
  • FXPrimus offer free Expert Advisors hosting for those traders that use automated trading systems to trade in the market. That is the best way to ensure the execution of the EA 24 hours a day, 7 days a week without interruption.
  • FXPrimus offer the possibility to choose between fixed spreads and variable spreads. In both cases, the spreads are very low.
  • It offers a prepaid MasterCard for their clients.
  • It offers free Forex education through its website, related with Forex basics, Technical analysis, Fundamental Analysis and a glossary.
  • A good costumer service 24 hours a day and 5 days a week via, e-mail, live chat in its website and by phone.
  • Swap free accounts or Islamic accounts are available for the Muslim clients on a case by case basis.
  • This broker offers one trading account, but this account is very flexible as it allows to trade with micro, mini and standard lots.
  • Free real time news and market analysis tools for their clients.

Main Offers of FXPrimus

  • For the moment FXPrimus is not offering any promotion for its clients.

Other Categories of this broker

  • Metatrader 4 broker.
  • CFD broker.
  • Gold broker.
  • Oil Broker.

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CompanyFXPrimus
Minimum account size$250.
Minimum lot size0.01 lots ($1000 or the equivalent in another currency like the euro ).
Maximum leverageUp to 1:500.
Spreads
FXPrimus offer 3 different spreads options for their costumers depending of the trading account option that they choose:
  1. Fixed spreads like in a Market Maker broker: For the major pairs the spreads can be as small as 1 pip, but under some market conditions could be wider.
  2. Variable Spreads (STP execution): Variable and low spreads. The trader can execute directly on bank feeds without intervention of any kind. When the market becomes volatile the spreads could be wider.
  3. Variable Spreads (ECN Execution): Variable and very low spreads. In fact, this option offers the tightest spreads available and rival some institutional level feeds offered to high level traders. Depending of the currency pair, the trader can access 3rd or 5th decimal point, sub-pip spreads. So, these spreads are the best option for traders who needs a fast execution at the best prices to take advantage of fast market movements.
In this case, the clients can choose between these 3 options when they open the trading account.
Link to WebsiteFXPrimus Website
Open an accountFXprimus-Regulated Forex broker

 

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