Discuss FxPrimus.com

[gfxtrader]

OK,very fast

Initially hd problems with moneybookers. But after a few conversation., they let me transfer to fxprimus account. No problem. Also fxprimus funding process was very very fast...After 1 hour of transfer I got into MT4 live details and online with them..

So far so good. I must say I'm impressed, nothing to complain about.

Shall report back few months later..

 

[RahmanSL]

Still no FPA members with rank of above Private have any trading experiences with FXPrimus??

 

[RahmanSL]

So no senior FPA members have live account with FXPRIMUS!

Ok, I have decided to go on a live medium size (just over usd1k) Standard account early last week and will post my comments over at the FPA "Forex Brokers Reviews" section on trading platform performances and rating after I have tried out both their standard & ECN Premium accounts.

 

[Normbell]

How are you getting on Rahman?

I am going ot try their ECN demo account to compare to Hotforex, thinkforex, Gomarkets, Vantage, Pepperstone.

One thing I noticed in the FAQ's is they charge 2.4% for funding with Visa and $50 to withdraw and they don't fund it back to the Visa card but with a Bank transfer.

I was going to test then with investing £1000 so these charges plus any my Credit card charge for converting funds and and bank charges my bank applies will take a hefty % chunk.

Anyway all that is irrelevant if the demo proves to be less profitable than the others I am using.

 

[RahmanSL]

I really can't say how well FXPRIMUS trading platform compares to other Brokers which I have used.

As you probably am aware, the statement by all brokers about "no re-quotes" on their ECN platform means trades are being filled by whatever price they can or am willing to give you or messages like "text busy", "time out", that infamous "no connection" (which we know damn well is not true), etc2 pops up to hide what basically amounts to a re-quote in other types of account.

Their support service is okay compared to some brokers and I especially like their flexible method for deposit....and of course, their no frill registration & verification.
Yes, withdrawal can only be done by bank wire transfer and not back to credit card if that's being used for deposit. So, we have to verify our bank account for that (which too is a simple enough process).

As for fees, their round trip cost for ECN account is higher than some brokers, but they do have a rebate system after certain trade lots.

As for fees for deposit/withdrawal, I am not particularly concern since we get that with whatever means of funding & withdrawal we use. Most important thing for me is reliability of fund transfer (deposit) and, of course, withdrawal. Anywhere, if we can afford to "invest" with over usd1k at a time, I think usd50 should not be an issue;right?

Personally I like FXPRIMUS for their availability of currencies, commodities, metals, oil/gas, and CFD...plus option, with a one time fee of usd50, for segregated account.
Just couple days back, they have a 100% trading bonus offer with "no strings attached" for usd500 and above deposit. Well...guess we will be hearing more from some of their clients (maybe myself) in the future.

Let me emphasize that I really do not know very much about FXPRIMUS except for all the good reviews which I have read here at the FPA and 100Forex Broker sites.

And exactly how honest & trustworthy is FXPRIMUS??
Only time will tell, I supposed. But I do hope FXPRIMUS is really what they claimed to be and is in business for the long haul.
I've gone past the "dating" stage (Demo) with this broker and has gotta "engaged" (live account below usd3k) and will see whether I want to get "married" (larger account) at a future date.
If we don't get along, well, I can always break off the engagement!

 

[Normbell]

Thanks for the detailed reply Rahman.

I was going to go live last week and was trying to decide between 2 brokers, communication was fast but when I asked some awkwrad questions they stopped replying.

I have started their demo today and have loaded the same charts and EA to compare to the other 6 demos.

Yes I suppose you are right $50 to deposit £1000 is not too bad but I guess I have been previously spoiled by the spreadbetting firms I used to use with no charges for deposit or withdraws, quick too as they show up immediately in the account.

But I decided a while back that I do not want to use a dealing desk and prefer an STP Broker.

Thing is I understand some claiming to be NDD STP are bending the truth a little and can manipulate spread and other tricks to reduce our profit.
I assume any MT4 Broker STP or otherwise can utilise the Virtual dealer plug-in.

So far all the demos vary in spread but all are profitable and I would be happy to deposit funds in any of them as long as the Live platform resembled their demo.

I did notice on FXPrimus site they state "We host Practice Accounts and Live Accounts on different servers so that clients can test out trading methods and EAs on Practice servers without affecting the performance and integrity of our Live servers."

Anyway good luck with your dating and don't spend too much on the ring yet.

 

[Carlo Colombo]

They have increased StopLevel to 3 pips, like a normal market maker broker.
This without communicating the change to clients.
I suppose that this is a "Million Dollar Pips" effect, but this means also that they loss money if a client gains money.
Bye bye FxPrimus.
:unhappy:

 

[Normbell]

I had only read good things about FXPrimus previously but found this on Donnaforex, post 199.

Not too sure what he is talking about but I assume it is similar to BT VD plug in just developed by FXPrimus.

GO MARKETS - praises, faults and updates welcome...

Would be interested to hear if there is any truth to his post.

 

[RahmanSL]

Ok, so now we have a negative post (over at Donnaforex site as highlighted by Normbeli) which I have copied and paste below for ease of reference:

"I have experienced with fxprimus fixed spread account, it is totally cheat broker. I have also gathered information from one of the forum and they were being caught by one of the programmer using SPALTER BOT, see the message below and please stay away from them:

Urgent outcome !!!! Get off the FX Primus on both LIVE and DEMO they are using (SPALTER BOT) <---- in house developed and it is nasty.

All members have trades executed but with you is not the case, they will prevent closing trades has the market price, what a big **** broker, total SCAM.

Our rangers team reporting FX Primus to their local government for a total fraud (Should be in jail as Raj) .

All members informs all other traders to stay away from FX Primus as soon as possible, help others on every forum if you have a bit of care and feel for all traders. "

Anybody here know what in the world is a "SPALTER BOT"????

...and, any comment from FXPRIMUS representative??

 

[Pharaoh]

Perhaps that's another word for that special MT4 backend that gives differential slippage, selected requotes, etc.