FXPRIMUS login and signup URL: https://fxprimus.com/
Is FXPrimus a scam? The short answer is NO.
FXPrimus is an international online trading platform located in the Republic of Vanuatu.
According to the company’s website(fxprimus.com), the trading platform is operated by an entity known as “Primus Markets INTL Ltd.” It further asserts that Primus Markets INTL Ltd is registered in the Republic of Vanuatu under registration number 14595, authorized and regulated by the Vanuatu Financial Services Commission (VFSC).
Indeed we searched both the company’s name and registration number on the Vanuatu Financial Services Commission (VFSC)’s website and verified this information. This lends Primus Markets INTL Ltd and the trading platform some credibility.
This unbiased FXprimus review highlights several aspects of the platform both good and bad.
6 Reasons To Consider Trading Through Fxprimus
1. Verifiably registered and regulated ensuring that it operates in compliance with industry regulatory requirements and standards. Subsequently, traders get to enjoy protection, fair platform practices, and legal recourse in the event of a dispute.
2. Provides multiple financial instruments including forex, equity, energies, precious metals, indices, cryptocurrencies, and stocks. A broker with an extensive range of trading instruments offers huge benefits to clients such as:
- Competitive advantage, increasing your success chances.
- More market opportunities.
- Broad diversification opportunities hence reduced risks.
- Added convenience, simplifying trading.
3. Provides a range of trading software namely; MT4, MT5, cTrader, and WebTrader. Such a broker offers many significant advantages for customers including:
- Catering for customers with diverse trading needs from beginners to seasoned traders with different skill levels and trading styles.
- Flexibility and convenience by allowing traders to access their accounts and trade from different operating systems and gadgets
- cTrader and MT5 come with more advanced capabilities, giving traders the upper hand.
- Some trading software e.g. cTrader, MT4, and MT5 facilitate automated trading, which can be beneficial for automated trading traders.
- Having access to more trading software leads to a better trading experience for customers.
- Multiple trading software provides different levels of functionality and support for new market developments, giving traders the ability to adapt to changes in the market quickly.
4. Offers a demo trading feature, allowing beginner traders to hone their trading skills by practicing trading using virtual money instead of actual money, eradicating the risk of losing money. Additionally, it enables them to familiarize themselves well with the trading platform. Demo trading can also be a useful tool for skilled traders who can use it to test different trading strategies.
Oh, and as a by the way:
As I mentioned in this post on how to avoid getting scammed on CFD trading platforms, it’s always a good sign if a trading platform offers a demo trading feature. It indicates the company’s commitment to transparency and user experience.
5. The website states that FXPrimus enables clients to benefit from international top-tier liquidity providers, even though it doesn’t give more details about the liquidity providers. However, third-party sources say that CapMarFX is one of those liquidity providers. According to Crunchbase, CapMarFX is a top-tier brokerage firm based in London, UK. How is this liquidity partnership beneficial to traders? It reduces trading costs, offers better market conditions, improves execution quality, and enhances the overall trading experience.
6. Provides more deposit and withdrawal options. For example, you can fund your account or withdraw your profits through:
- Credit card or debit card.
- Wire Transfer.
- E-wallets, such as Neteller, Perfect Money, Skrill, UnionPay, FasaPay, and TrustPay.
- Cryptocurrency.
These funding and withdrawal options ensure faster, more secure, flexible, and convenient transactions, not to mention, reduced transaction costs.
4 Reasons To Not Invest Through Fxprimus
FXPrimus is a legitimate broker, but several issues with the broker might turn off potential clients, as follows:
1. While the broker offers attractive offerings, some customers have reported unexpected spikes in spreads, especially during volatile market conditions. The problem with this issue is that it can cause you to lose especially if you do high-frequency trading. If you do this type of trading, Fxprimus might not be a good option.
2. The company can be extremely harsh against clients who have violated its terms, judging from the following screenshots showing the company’s response to a customer’s complaint, we found on WikiFX:
It seems that the company banned the client for allegedly engaging in abusive trading behavior as specified in the screenshots above. The fact that it further threatened to sue this client despite banning their account and freezing their funds speaks volumes. It demonstrates its overly brutal nature in getting back at those who’ve violated its terms and conditions.
3. Additionally, FXPrimus is not available in all countries. That means traders who are residents of certain countries, including the USA, cannot access its services. This limitation has left many potential traders unable to use it.
4. Lastly, this online trading platform lags significantly behind when it comes to customer support. We found a significant number of complaints regarding this area, with many users reporting that the company did not resolve their issues promptly enough. As such, if you are keen on finding a broker that offers top-notch customer support, FXPrimus might not be for you.
Final Thoughts
To cut a long story short, FXPrimus is a legitimate online trading platform duly registered and regulated by the Vanuatu Financial Services Commission (VFSC). Located in Vanuatu, this offshore broker accepts traders globally except residents of certain countries, including the USA. Whether we recommend the broker or not depends on the pros you are looking for and the cons you can tolerate in a broker. If you need the benefits that FXPrimus offers and don’t mind much about their drawbacks, then they certainly are for you.
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