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. 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.
- I recommend beginners read them to understand some basics before enhancing their education with trusted third-party sources available online free of charge.
- All three may provide services to Primus Global and Primus Markets INTL, the Vanuatu subsidiary.
- The secure back office of FXPrimus handles all financial transactions, where traders have access to ten payment processors.
Support
This can be very convenient if you are day trading multiple instruments at the same time. FXPRIMUS is a member of the Investor Compensation Fund (ICF), thus eligible client’s funds are protected. In addition to this, they also have professional indemnity insurance via the Howden Group. Just keep in mind that this does not apply to all clients and protections can vary depending on the liteforex review broker entity that you open an account with.
A short online application form grants new clients access to the back office. Unfortunately, FXPrimus includes unnecessary questions, which are normal for CySEC brokers, to Vanuatu clients. FXPrimus does not really have any unique features, as it focuses on a competitive core trading environment, which I believe it has achieved with its Primus Zero account. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-based Primus Zero account.
FXPrimus trading platforms and tools
MetaTrader 4 (MT4) is one of the most popular online trading platforms used by millions of traders around the world. I can code my own systems in the MQL4 language or get access to thousands of free and paid tools from other users from within the platforms marketplace. The broker offers trading instruments across multiple markets through MT4 including Forex, Commodities, Cryptocurrency & CFDs. MT4 is freely available in more than 30+ languages for desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
Account funding at FXPrimus
You can diversify your portfolio with the indices offered including the S&P500 CFD, Nasdaq 100 CFD and Dow Jones CFD. An index is a statistical measure of changes in a portfolio of stocks representing a portion of the overall market. Index trading is for those with a keen eye for changes in a certain sector or a group of stocks. The brokers website has a basic glossary of terms and definitions that can be used to help familiarise yourself with some of the most popular trading related terms. Here is a screenshot of the FXPrimus quotes in their MT4 during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com.
Can I trust FXPrimus?
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. FXPRIMUS has a good selection of account types suitable to different styles and needs of traders.
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). FXPrimus provides multiple options for account funding, catering to a variety of preferences. The mini terminal improves trading efficiency by allowing you to trade with one click, adjust lot size, set stop losses, take profits or trailing stops and more.
I always prefer to use a regulated broker as I want to focus on my trading without worrying. FXPRIMUS continuously look to improve security for clients and give them peace of mind by implementing the latest technologies and advanced safety mechanisms alongside the educational material provided. You are given all of the necessary tools and resources that can help you to make informed trading decisions. They believe that providing you with the best possible academic, technical and practical support can help to give you sustainable success whatever your level of expertise. FXPrimus notes that it covers all deposit and withdrawal fees, but third-party costs may apply, dependent on the payment processor.
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.
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. I didn’t really learn anything that I don’t already know from years of trading but I think new traders who are visual learners would find these more beneficial. They have a team of experienced financial analysts that have compiled together a comprehensive library of educational training videos, seminars and webinars. These provide detailed insights and special reports to help increase your trading knowledge and skills, whilst helping with making informed trading decisions. This type of educational content could cost a lot of money from a third-party provider so it is great that the broker provides it to you free of charge.
FXPrimus commissions and fees summary
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. FXPRIMUS offer a huge range of funding and withdrawal methods including online payment processors such as Skrill and Neteller for fast and convenient transfers. I would say they have perhaps the most impressive selection that I quebex have seen from any broker. I love that there are so many digital wallets as this is my preferred method of payment.
FXPrimus features four account types, including one Cent account, only available with the MT4 trading platform. Cent and Classic are more expensive commission-free accounts, while Pro and Zero are commission-based, where the latter ranks among the cheapest ones and the account type I highly recommend at FXPrimus. Traders at the CySEC subsidiary get an investor compensation fund, covering up to 90% of deposits up to a limit of €20,000.
I would always suggest starting on a demo account to see if a broker can meet your needs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Trading Brokers Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for.
For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. There is a short online form to complete and you will need to verify your email. Once verified by the accounts team you will then be able to fund your account and start trading. I completed it within minutes and had an email right away with my login details. It is great that the whole process is done online but also expected in today’s day and age.