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FxPrimus.com Review MT4 - MetaTrader Platform

Overall Rating: (3.092)
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Total Reviews: 146
Last Updated: 2014-07-22
Description: FX Primus are forex brokers. FXPrimus offers the MetaTrader 4 and MT Mobile online forex trading top platforms. FXPrimus.com offers over 30 currency pairs, metals, cfds, indices, and equities for your personal investment and trading options.
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Ahmed , Cairo, Egypt

Rating:
Date of Post:2014-04-06
Review: I had been with fxprimus for few months now, the MT4 is good , the ecn premier account was in average , somehow super fast, and sometimes slow , but its ok for me :).

The only concern i had is why you are only licensed in Mauritius and New Zealand !!! , it seems to be very weak license from two countries that i didn't expect any monitoring from their authorities as NFA or Cysec ...etc.

This made me if i want to invest large amount of money with you , i go to think millions times before i take this action with you honestly. as there is no strong backend i can rely if in any case i cant get my money back.

P.S i don't doubt on Fxprimus,as until now they have very good service, but i just have wondering that need to be answered before i am fully trust This broker.
 
Comment: Added by FXPRIMUS Support on 2014-04-10 06:29
  @ Ahmed from Egypt,

Thank you for your feedback. If you ever experience any slowness or delays while trading on your ECN premier account, please notify our support team at support@fxprimus.com and provide your MetaTrader4 ID as well as any order numbers affected so that we may conduct a review of your account in relation to our servers and take the appropriate actions.

We understand and appreciate your concerns. FXPRIMUS is indeed fully licensed and regulated by the FSC of Mauritius and FMA of New Zealand with plans on acquiring additional regulatory licenses soon. Being a fully licensed entity, FXPRIMUS adheres to stringent international initiatives to combat Money Laundering and Financing of Terrorism. Additionally, we undergo yearly audits to assure existing and prospective customers that our brokerage is using fair policies prescribed by law. FXPRIMUS has also been awarded the ISO 9001:2008 certification in recognition of our standardised Quality Management best practice protocol. This certification complements the ISO 27001:2005 certification which we earned in early 2012. FXPRIMUS is the only non-Swiss based Foreign Exchange brokerage firm to earn both designations.

We are the first retail brokerage to contract an independent third party fund administrator to monitor the flow of client funds. Our independent third party administrators act as signatories to all client segregated accounts and any funds leaving the client segregated account must first be approved by them. Finally, we offer the FXPRIMUS Trust Account where your moeny is completely segregated from the assets of FXPRIMUS. These funds are held by an independent custodian Trustee, NinetyEast Trustees Limited at world renowned Barclays Bank. This unique arrangement allows you to fund your account through the Trustee, providing you with the assurance of knowing your funds are 100% safe and secure.

We invite you to read more about the fund safety measures we have taken to ensure a safe trading experience for our customers on our website. Please do not hesitate to post additional feedback or questions on this forum or with us directly at support@fxprimus.com.

Warm regards,
FXPRIMUS Support

adam, Terengganu, Malaysia

Rating:
Date of Post:2014-04-01
Review: Hi fellow trader,

Trade with FXprimus about 5 months now. Everything perfect, extremely fast services, good responsive support team, good execution and fast withdrawal !

I think I have made a good choice for my trading career with this broker for a long term
 
Comment: Added by FXPRIMUS Support on 2014-04-02 12:01
  @ Adam from Malaysia,

Thank you for your feedback. We are glad to hear that you are having a good experience with FXPRIMUS so far. If there are any specific areas where you feel we need to improve further, please let us know.

Warm regards,
FXPRIMUS Support

Lee KT, KL, Malaysia

Rating:
Date of Post:2014-03-27
Review: I've used Fx Primus as my broker for over two years now. Found the site through several good reviews from the research I did. Since Fx Primus is popular in Asia it was a natural choice for me.

So far it has been a good experience. The support staffs are fast but mostly standard answers. But if you ask specific they will solve your problem just as fast. And they are constantly improving from time to time. Now they have more promotion and higher leverage to pick from! Maybe higher leverage means bigger risk but can try for risk takers.
 
Comment: Added by FXPRIMUS Support on 2014-04-02 11:51
  @ Lee KT from Malaysia,

Thank you for your feedback. Please let us know if you have any feedback concerning specific areas you'd like to see improvement at FXPRIMUS.

Warm regards,
FXPRIMUS Support

wayne, perth, Australia

Rating:
Date of Post:2014-02-17
Review: I have had dealings with FX Primus based in Adelaide on and off for about 4 years now.I have lost a sum of money during this time and have had excuse after excuse from the trader I deal with whether the market isnt right or he has been ill and couldnt trade.Only when I have threatened to take the case further has he tried to rectify the issues and then after a while its back to the same old excuses.Do your homework very diligently before you commit because in my experience it snt worth the stress.
 
Comment: Added by FXPRIMUS Support on 2014-02-20 11:40
  @ wayne from Australia,

Thank you for your feedback. We are a bit unclear about your statement "excuse after excuse from the trader I deal with.." It sounds as though you have a managed account. Please note that FXPRIMUS does not manage customer accounts. You can enter into a Limited Power of Attorney (LPOA) agreement with a 3rd party money manager, but it is important to note that these money managers are not affiliated with FXPRIMUS. Please further note that you are able to relinquish your relationship with your money manager. Please contact us at support@fxprimus.com from your registered email address to request to relinquish your LPOA agreement and a representative will assist you as soon as possible

Warm regards,
FXPRIMUS Support

Malik Farooq, Riyadh, Saudi Arabia

Rating:
Date of Post:2014-02-14
Review: Fx Primus is not good for trading at news,You will lose all your account and fx primus has 100 answers to reply to their clients
 
Comment: Added by FXPRIMUS Support on 2014-02-20 11:30
  @ Malik Farooq from Saudi Arabia,

We are sorry to hear that you have lost money trading during news releases. As you know, trading foreign exchange on margin carries high potential rewards but also high potential risks that may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience and risk appetite. Past performance is not indicative of future results, which can vary due to market volatility. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

If you ever have any inquiries regarding specific trades, please email us at support@fxprimus.com and provide your MetaTrader4 ID, order number(s) and a brief description of your inquiry or issue. We will be more than happy to audit the trade and revert back to you with our findings.

Warm regards.
FXPRIMUS Support

Ryan, London, United Kingdom

Rating:
Date of Post:2014-01-23
Review: Hi fellow traders I would like to give you some advice on FXPrimus,


I am a Trader with JP Morgan and have been with FXPrimus since they launched. FXPrimus made a lot of effort to come across as a STP Broker and they did their job very well, unfortunately since their management changed I have noticed that FXPrimus started to become very greedy. During news releases such as NFP they widen the spread to over 40 pips even on a fixed account, while on a flexible spread account the spread is lower during such releases which also shouldn't be the case.
Apart from that they say that during NFP releases there is iliquidity and therefore the spread increases, which is total and utter rubbish. During NFP releases the market volume triples and the Forex market is such a large market with trillions traded everyday that the liquidity is extremely high. I am sitting during that time at the trading desk and can tell you that what FXPrimus tells every customer that there is not enough liquidity is a lie. Basically FXPrimus hedges risks and I don't know since when they do that but it seems that these crazy spreads were introduced less than a year ago. Although FXPrimus is a STP, you have to understand what a STP is and the business operations of one. As an STP they claim to be a straight through processing broker, but if I am very honest I am certain to not believe that they rely to 100% on commissions from traders anymore unless FXPrimus actually can prove this to us and give their clients some insight on their business operations which they won't do and I have a lot of experience being in the FX market for over 15 years. So basically FXPrimus got very greedy and for news traders trying to prevent them to enter the markets during news releases such as the NFP by increasing the spread a lot. Apart from that it is FXPrimus setting the spread and not the banks they are getting the liquidity from, I know that because we are providing liquidity for brokers including citi bank, hsbc and others. So the question is why would they increase the spread by so much, answer is simple, most brokers trades themselves and during such times they are exposed to a lot of adverse market risk. This is why they freeze trading a few minutes before the NFP come out and during the release they increase the spread and after the release for about 10-25 minutes. Then the spread increases depending on the market volatility.
In the end this is unethical behaviour and what they do does not comply with who they used to be or claim to be. As they are based in Mauritius and I know that governance and ethics are very different to the FCA standards in the UK. Although they claim to be the safest trader with fund protection etc etc., it doesn't stop them from acting in their own interest.


Concluding I definitely wouldn't recommend to go with FXPrimus anymore. If you are a scalper then stay away from news but other than that their systems seem to operate good and do their job properly. I will give FXPrimus a terrible rating because they are not what they claim to be and believe that a lot of traders are just rookies who don't understand the markets. In overall if a company says that they are something they are not, then this implies that further unethical behaviour can be expected without the small scale traders even noticing.

Happy Trading Fellow Traders :)
 
Comment: Added by FXPRIMUS Support on 2014-01-29 04:31
  @ Ryan from London,

As you have been a customer of FXPRIMUS since opening its doors almost 5 years ago, thank you for your continued business.

We regret to hear your grievances surrounding our spreads during news. As I'm sure you can appreciate being a trader at such an esteemed company as JP Morgan, trading around news time, especially during such major events like the US Non-Farm Payrolls, has always been tricky for traders & liquidity providers alike. This has been the case for years and years. There is no such thing as a fixed 2, 3 or 4 pip spread during such news events, as banks and liquidity providers do not price in that manner as it makes them susceptible to catastrophic losses. Take for example, a bank maintains a 2 pip spread on GBP/USD, while the "real market" has widened out to 20 or 30 pips--every trader with good technology can trade on that 2 pip spread and make unlimited "free" money. Banks, liquidity providers, or anyone for that matter are not in the business of giving away "free" money. If you do see such fixed spreads, you might expect to receive extreme slippage, requotes, etc. Our liquidity providers endeavor to provide executable pricing during news events, so the trader is able to get in and out when they need to, without extreme slippage.

We would like to review your account history and for you to show us some instances where you thought you didn't receive fair trade execution. Feel free to post your MT4 here if you would like to engage in further public dialogue about this matter, or if you would like to discuss in confidence, please send to support@fxprimus.com.

Thank you for your feedback, and we look forward to hearing from you.

Warm regards,
FXPRIMUS Support
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michael thabet, cairo, Egypt

Rating:
Date of Post:2013-11-26
Review: Dear sir,
thanks for your reply on 9/10/2013
but real ECN means instant execution or cancel the order but your company freeze my pending orders for 1 or 2 minutes.
if the price go to profit direction you make a slippage and if goes negatively you activate stop loss
you aren't a big broker so don't lose your good reputation
you can prevent news trading.you will get more respect and clients
thanks

2013-10-09 2Star The execution within news time is very bad i trading for 2 month on news only.
your orders go to dealing desk first

Comment: Added by FXPRIMUS Support on 2013-10-16
@ Michael Thabet from Cairo, Egypt

Thank you for your posting. Please note that FXPRIMUS is a 100% STP brokerage firm, not a dealing desk. It is our goal to provide customers with the best possible executions, both during "regular" market conditions as well as during news events or other periods of limited liquidity in the markets. With that said, at times market volatility creates conditions where orders become increasingly difficult to execute at your requested price. In such cases where you are looking to execute a trade at a specific price and within a second the market moves away from that price, your order would be filled at the next available price. This "slippage" can occur during such volatile times and should be considered when you engage in trading--especially when you engage in trading solely during such volatile market conditions.

Warm regards,
FXPRIMUS Support
 
Comment: Added by FXPRIMUS Support on 2013-11-27 05:14
  @ Michael Thabet from Cairo, Egypt

Thank you for your posting.

To clarify, our ECN Premier spreads execute customer trades via Market Execution. This means that when a customer enters a trade, and there is market movement in the split second they place the trade, they will be executed at the best possible price and not rejected or requoted. Market Executions are advantageous for customers who expects to enter the market, regardless if the market is moving quickly or not, without requotes.

We certainly understand and sympathize that slippage is a news trader's "worst enemy." There is a risk of slippage that is determined by the available prices in the market at any given time. As painful as some slippages may be during news events, it could be even more painful if the order wasn't filled at all.

Warm regards,
FXPRIMUS Support

Stephane, Sussex, United Kingdom

Rating:
Date of Post:2013-11-24
Review: My experience with Fxprimus has been a positive one.Their new ECN server is brilliant,it has never froze once.
With good execution and descent spreads,I have no problem at all to report since its beginning in May.
Only recently my MT4 balance was inacurrate on one occasion,meanwhile their support team corrected it in my favor rapidely,which show their trustworthyness.
What else,check their website and you will see that your money will be segregated in a Barclays mauritius branch, it is by the way a world reputed bank.
You pay a small fee for the privilege but it is worth it,making this broker one of the safest and pleasant place to trade.


 
Comment: Added by FXPRIMUS Support on 2013-11-26 04:36
  @Stephane from the UK,

Thank you for your feedback.

We are glad to hear that you have had a positive trading experience so far.

To clarify a little further on your post, all customer funds are held in segregated customer accounts in Barclays Bank at no cost to the customer. We do offer an additional measure of account security, the FXPRIMUS Trust Account, for a one-time fee of USD50.00. Funds held in the FXPRIMUS Trust Account are completely segregated from the assets of FXPRIMUS and are held by an independent custodian Trustee at Barclays Bank.

Warm regards,
FXPRIMUS Support

tohalan, Singapore, Singapore

Rating:
Date of Post:2013-11-15
Review: Order #21519446, I placed a buy stop of 0.20 lots GBPUSD. at 1.6090. at 13:57:51 MT4 time on 07 Nov 13, I modified the pending order to have a SL of 1.6080. At 13:49 07 Nov 13, the trade was triggered becoming a live Buy order at 1.6090. Then a moment later the same trade triggered on my SL of 1.60800 and was closed. Therefore FXPRIMUS reply me the execution of this trade is valid. I really do not understand a buy stop can automatically become a live buy after modified the order & at that time the ask price did not hit 1.6087 or 1.6090.
 
Comment: Added by FXPRIMUS Support on 2013-11-19 05:09
  @ Tohalan from Singapore,

Thank you for your feedback.

Looking into order #21519446, we note that you placed a buy stop of 0.20 lots GBPUSD at 1.6090. at 13:57:51 MT4 time, you modified the pending order to have a SL of 1.6080. At 13:49 MT4 time, the trade was triggered becoming a live Buy order at 1.6090. Then a moment later the same trade triggered on your SL of 1.6080 and was closed. When you enter a Buy trade, you enter on the trade's Ask price. Likewise, when you close a Buy trade, you exit on the Bid (chart) price. Looking at the Bids at 13:59 MT4 time, we note that the Highest Bid was 1.6081 and the Lowest Bid was 1.6075. Your SL of 1.6080 falls within this Bid range, and was therefore triggered at this time. As such, this is why the execution of your trade was deemed as valid.

Warm regards,
FXPRIMUS Support

Javin, SIngapore, Singapore

Rating:
Date of Post:2013-11-12
Review: I can only place my TP and SL 20 pips away from market price for their XAU/USD and if market price is less than 20 pips from TP or SL, i can't close it manually.

2012-06-19 2Star Recently there is a lot of disconnection from this broker, it is pissing me off.
I am going to change to another broker due to trading cost also.

2012-01-27 1Star I found out something with this broker when I manually close an order, if I am in profit, it will reduce my profit for about 1 - 2 pips then it will close. If I am in a loss, it will increase my loss about 1 - 2pips then it will close. Dirty tricks.
 
Comment: Added by FXPRIMUS Support on 2013-11-14 09:24
  @ Javin from Singapore.

Thank you for your feedback.

It sounds like you are referring to the stop level and freeze level of XAUUSD. Both the stop and freeze levels are set by our liquidity providers on an instrument by instrument basis.

The stop level for an instrument is set based on a number of factors, including the volatility of an instrument. The primary reason in the case of XAUUSD is due to the extreme volatility in Gold. In an effort to reduce requotes and slippage to the account's respective spread type, our liquidity providers set the stop level 20 pips, as Gold can easily move 20 to 30 pips in just a few seconds. If the stop loss level were any lower there is an increased chance of continuous slippages and requotes thereby resulting in a less than optimal trading experience.

Similarly, the Freeze Level is set by our liquidity providers to prevent the possible double filling of orders whereby when a trade is close to either triggering on an SL or TP value, it cannot be manually closed by the trader.

Warm regards,
FXPRIMUS Support
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