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FxPrimus is a Cyprus based online brokerage firm regulated by the Cyprus Securities Commission (CySEC) and the Vanuatu Financial Services Commission (VFSC). The company guarantees its customers that their deposited funds are protected by insurance coverage of €2.5 million. The broker also claims that it uses the latest data security systems.
FxPrimus offers its clients opportunities for robust and successful online trading of currencies, energy, commodities, and indices. The company provides clients with access to the Forex and CFD markets. The list of trading instruments includes 43 currency pairs, 3 types of precious metals, stocks, energies, and indexes.
Trading conditions
- Standard account (minimum deposit starts from $1,000)
- Premium ECN account (minimum deposit is $2,500)
- VIP account (minimum deposit amounts to $10,000)
Notably, the broker gives access to the time-proven MT4 trading platform.
Spreads are fixed (available to the owners of a premium ECN account) and variable from 1.5 to 3.4 pips (calculated for a standard account based on the asset type).
Traders can top up their accounts by using a Visa and MasterCard credit cards, the wire transfer or the e-wallet (Neteller, BitPay, UnionPay, Skrill, FasaPay, GiroPay, ecoPayz). The minimum withdrawal amount is $100. Withdrawal procedure can take 24 hours to 5 working days (depending on the payment method).
Bonuses
The broker offers different bonus programs, such as Cash Back Bonus ($2 for each successful deal) and a 30% trading bonus. Experienced traders can considerably increase their profit with the help of a copy system. They will receive money per each trade copied from their trading history.
Training
On the Internet, there are a lot of positive reviews about FXPrimus training programs. On the company`s official website, you can find the Education section containing training videos, as well as a Forex dictionary, and an economic calendar. Moreover, the company publishes free reviews from well-known analyst Marshall Gittler, so that traders can use his analytical reviews while trading.
Support service
You can contact the support service by phone or email.
Feedback
Traders emphasize many drawbacks when working with this company. For example, they complain about the high spreads and slow order execution. Some are displeased with the complex withdrawal procedure, poor customer service, and the inability to close a deal manually in case of force majeure. Among positive reviews, clients note a large array of trading instruments and small spreads.
Advantages and disadvantages
Pros:
- licensed by reputable regulator
- wide range of trading instruments
- trading opportunities for both experienced and novice traders
- well-developed analytics section (free technical analysis and economic calendar)
- competitive bonus program
Cons:
- time-consuming withdrawal procedure
- lots of negative comments from traders
