About the firm
FX Primus Europe (CY) Limited started operations in 2009. Terry Thompson, the company’s owner and CEO, has since obtained CySEC approval and established the company’s headquarters in Limassol, Cyprus. Users can trade with the following assets:
- Forex
- Indices
- Cryptocurrencies
- Commodities include gold and platinum, as well as energy commodities.
- Stocks
Trading platform
MetaTrader 4 is a trading platform that can be downloaded for Windows, Apple, and Android, as well as accessed through their WebTrader. It’s noted for its easy-to-use UI and automated trading features. Traders who have made a $50,000 investment may also use the broker’s Platinum API platform, which runs outside of MT4 and offers powerful automated and algorithmic financial models. On Apple or Android phones, the full-featured MT4 mobile app may be downloaded. The app has all of the functionality included in the desktop version. It’s also fully integrated, so you can see all of your trades and deposits on the go, even if they were made on your computer.
Trading fees
Commissions are earned via a mix of spreads and commissions. ECN and variable live spreads are available from the broker. As for popular pairings like EUR/USD, the ECN Premier account boasts the narrowest spreads, as low as 0.5 pips. However, there is a $10 per lot cost, which drops to $5 per lot after you reach a monthly trading volume of 250 lots. The variable spread option, on the other hand, does not require fees, but the outcome is determined by market conditions.
Overview of Leverage
In compliance with CySEC standards, individual clients’ leverage is limited to 1:30 and institutional traders’ leverage is limited to 1:200. Potential clients should be informed of the dangers of leveraged trading.
Deposits and withdrawals
Bank transfers, credit cards like Visa and Mastercard, and e-wallets like Skrill and Neteller are all available as deposit and withdrawal options. The minimum deposit rate per transaction is $100. Withdrawals are usually free, but small sums may incur charges. When filling your account, keep in mind that your bank may impose a fee for using an intermediary to store money in escrow.
Account types
Standard, Premium, and VIP accounts are the three primary categories of accounts. All accounts include one-on-one guidance, SMS notifications, and the firm’s daily market projections, as well as 24/7 assistance and up to €2.5 million in professional liability insurance. If you’re ready to move ahead, a minimum payment of $2,500 for a premium account and $10,000 for a VIP account is required. You’ll get a slew of perks in exchange for the extra cash, including 60-minute training materials, market news calls, and VIP trading signals.
Demo account
On the MT4 platform, the company provides a demo account. You can create a demo account in addition to a genuine account. The registration procedure is quick and easy. Once you’ve registered, go to the “trade” tab on the main page to enter the client/member area.
Regulation
The Cyprus Securities and Exchange Commission is in charge of the company’s regulation. The Markets in Financial Instruments Directive also applies to it. It gives a negative balance protection guarantee on all accounts in compliance with CySEC standards, which implies that losses are restricted to the deposit amount. However, this decreases the amount of leverage you have. The Vanuatu Financial Services Commission also regulates it (VFSC). The VFSC is an offshore authority that does not have rigorous broker regulations. The Financial Conduct Authority regulates partner firms in South Africa.
Additional features
It is well-known as a worldwide corporation for its creative features and services. It has all of the tools you’d expect from a large brokerage to keep you informed, including an education hub with seminars, daily reviews, tutorial videos, and a constantly updated news blog, all of which can be found on its primary website. On their PAMM website, FXPrimus offers a copy tool that allows you to use the positions of successful traders. After checking in, you may evaluate the Masters trading outcomes on the website and pick the one that’s appropriate for you based on their performance and risk profiles.
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