FXPRIMUS Broker Review
When it comes to choosing a Forex broker, an important consideration should be whether the broker is licensed and regulated. There a number of well-recognised regulatory bodies, located in various countries around the world. The Financial Conduct Authority (FCA) is one of them, and another is CySEC (Cyprus Securities and Exchange Commission). Finding out whether a particular broker is licensed is relatively easy, as most of them mention it in their company website. But to save you some time, we will always mention this vital information in our broker reviews.
FXPRIMUS is one such regulated broker and holds a licence issued by CySEC. It is also registered with a number of other regulated bodies, and operates in accordance with MiFID. The company has its main headquarters in Limassol, but has clients located in more than 200 countries around the world.
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* Not valid for EU traders, T&C apply
|Forex, indicies, commodities, shares|
FXPRIMUS have chosen MT4 for its trading platform
We’re never surprised to learn that a broker has chosen to stick with MetaTrader 4. After all it is still possibly the most popular trading platform for traders. And it’s easy to understand why. It’s suitable for traders of all levels, comes with a great package of charting features, technical analysis tools, and the ability to work with various automated trading strategies. Here are a few examples of the type of tools available.
Alarm manager – Notifications by email, Twitter, and SMS
Connect – News feeds, funding options, and details of the latest promotions
Market manager – Means there is no need to keep your trading platform open 24 hours a day
Mini terminal – One click trades
Sentiment trader – Helps gain an understanding of the direction of other traders
Trade terminal – Allows up to 50 instruments to be traded via a customizable window
With MT4 there are no problems trading a multitude of instruments, whether it’s futures, indices, CFDs, equities, or foreign currencies. The fact it is mobile friendly and performs equally well for PCs, Macs, iOS, and Android is always going to be seen as a bonus. Add to these qualities the fact it is available in more than 30 different languages, and you’ll appreciate why it has done so well.
FXPRIMUS has some interesting promotions
FXPRIMUS tends to chop and change their promotions, but currently they are offering:
Double Dynamo Bonus – 100% double dynamo bonus on up to $10,000 plus up to $4 cashback on every lot traded, but only available until July 31st 2016
$2 cashback – FXPRIMUS are also currently offering a generous rebate package of $2 for every lot traded, plus there is leverage of up to 500:1
Trading Titans competition – $50,000 cash give-away waiting to be won
30% trading bonus – Available for new and existing clients upon depositing a minimum of $500 USD
We should also mention FXPRIMUS are currently promising the lowest spread for oil at 0.02, and gold at 0.08.
Trading accounts available with FXPRIMUS
First we’ll mention the demo account offered by FXPRIMUS, as it allows new clients the opportunity to try them on for size, before investing real money. Traders are given $50,000 virtual cash and allowed to trade with it for free, and no strings attached, for 30 days. When you’re ready to invest some real money there is one account available, but it is separated into individual, joint, and corporate. Three different lots sizes are also offered, Micro, Mini, and Standard. There are also self-directed and managed accounts, as well as opportunities to become an Introducing Broker and Affiliate. All the accounts can have ECN premium or variable spreads. Minimum deposit requirements are $100 across the board.
A wealth of educational material is waiting at FXPRIMUS
It seems that FXPRIMUS care about the education of their clients and aren’t afraid to let people meet their team of researchers. And we happen to like that, as it’s always good to see the faces behind the people who you are investing your hard earned cash with. And that’s not all, as there is also a section to help you become a better trader, and understand all the ins and outs of how the financial markets work. Educational videos, an economic calendar, FX glossary, trading calculators, and Twitter feed are there to heighten the experience.
FXPRIMUS supports all the usual payment methods including debit and credit cards as well as bank wire transfers, Skrill, and a prepaid FXPRIMUS credit card.
Customer support is available by phone, and there are representatives who can converse in several different languages. And the option we always appreciate is the live chat. There is nothing better than to have a human instantly available when you find yourself in need of some help.
So do we recommend FXPRIMUS? Yes, we do, but we also appreciate that everyone’s needs are different. Always give the demo account a go, before committing yourself completely.