FXPRIMUS is a trade name of the Cypriot financial company Fx Primus Europe (CY) Ltd that is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). The CySEC license allows it to conduct financial services, including forex. The company claims to be insured by a Lloyd’s of up to EUR2.5 million.
However, there are some posts in forex forums that inform about ‘fake and unreal spreads’ and poor bonus practices.
So far, we haven’t received any complaints from clients of FXPRIMUS.
If you feel frustrated by FXPRIMUS and have something to share with us, please fill in the form below, describing your case:
FxPrimus are scammers. They proposed me 100% deposit bonus and thought I would have a full margin available. I suffered some loss and when my account balance fell to the initial one, they took their bonus and I bankrupted. This happened at night. I contacted them and they answered me that “according bonus terms, margin call occurs when your equity reaches the bonus amount multiplied by 1.2 or 1505×1.2=1802. They give bonus and they take it whenever they want. Stay away from fxprimus.
Do not trade here. Fxprimus will slip you nonstop. Slippage is here constantly. Their servers always block before important news. And I noticed this happened recently. Once they were ok but now they are not anymore.
This broker is not appropriate for you if you are a newstrader. They swell spreads and if you have stop loss it will be hit. I sold a major currency pair when I saw its price was falling. When my market order was filled I placed my stop at 10 pips distance. And then my stop was triggered at the same moment. When I asked why they answered me during the volatile events spreads are increasing. Nd if you trade during such volatile events either you shouldn’t put stops or you should trade with other broker!
I think FXPRIMUS are liars! They introduce themselves as an ECN/STP broker but this is not the truth. While I was trading, my spreads widened suspiciously and my stop-loss order was touched. My position was on EUR/USD that is major, not exotic. I made a complaint and then my position was reopened. That confirms my claim this broker is not STP but market maker. If FXPRIMUS were STP, they would have sent every position to their liquidity providers. That means once closed this position couldn’t be opened again. Be careful not to be scammed by fxprimus.