FXPRIMUS is probably the fastest-growing broker nowadays, with thousands of traders switching over to them every week.
FXPRIMUS strongly believes that in order to have sustainable long-term growth as a company, it is necessary that every client gets a fair chance when trading with them.
The company has its main headquarters in Limassol but has clients located in more than 200 countries around the world.
In January 2016, the broker won the award for Best Forex Research. In addition, the broker is the official Manchester City football club sponsor.
FXPRIMUS supports MetaTrader4, an electronic trading platform widely used by online retail foreign exchange traders. MT4 comes with advanced charting features, technical analysis tools and its own programming language for automating tasks.
In addition to MT4, FXPRIMUS allows clients to trade via WebTrader, the go-to white label web platform. WebTrader is not currently available to clients with managed accounts or Money Managers who use MAM software. FXPRIMUS also offers mobile trading, which is now the norm in the industry.
As with most Forex brokers, FXPRIMUS offer their clients the opportunity to test-drive their system. There is a demo account which allows traders to trade with $50,000 virtual money.
When you are ready to invest some real money, there is one account available, but it is separated into individual, joint, and corporate. FXPRIMUS offers Micro, Mini and Standard lot trading in a single account.
In addition, FXPRIMUS provides swap-free (Islamic) accounts, which are Sharia compliant, as well as percentage allocation money management (PAMM).
The minimum deposit amount is $100 (or its equivalent), and you can make deposit with the following payments options: Wire Transfer, Credit or Debit Card, Local Transfer, Realtime transfer, ClickAndBuy, Skrill and cashU. The maximum leverage that you can use is 1:500.
Commissions and spreads
This forex broker offers its clients the tightest possible spreads. Clients of this broker are allowed to choose between Fixed spreads, Variable spreads and ECN Premier Spreads.
Variable spread account provides average spreads of 1.5 for the EUR/USD pair, while the ECN Premier one offers average spreads of 0.4 pips on EUR/USD + $10 commission (which equals approximately 1 pip).
Variable spreads from 1.0 to 1.5 pips are considered average for the Forex market.
So do we recommend FXPRIMUS? Yes, we do, but our advice is to try it out with demo account first, before investing real money.