Review on FX Primus

As traders, we want to trade with a Broker that we can trust and rely on. However, things are often not that simple. Some people favour costs over reliability. Some favour trade executions over costs. Others prefer leverage over all else. But at the end of the day, we all want a Broker that will allow us to withdraw our profits with ease and convenience, isn't it?

I hope that this review will achieve the objectives of giving you a comprehensive and detailed analysis of FX PRIMUS. 

The few things that jumped out at me:

1. Fast Account Approval
2. Quick Funding & Withdrawals
3. Low Account Minimum (USD 100 or its equivalent) - This small sum is good for testing waters with your broker

https://www.fxprimus.com/en/why-fxprimus/reasons-to-trade-with-us

Without delay, let's get our hands dirty and go into details about the important aspects of this broker.

Funding

Funding seems to be relatively convenient. Credit/Debit card is the fastest mode of funding, but take note of the transaction costs involved.

https://www.fxprimus.com/en/support/faqs

There is a promotion where you enjoy Free Funding.

https://www.fxprimus.com/en/free-funding-via-credit-card

Withdrawals

I also included the withdrawals process below. You WILL incur costs for bank wire transfers out to your bank account and there is also a MINIMUM sum for withdrawals.  

Spreads and Liquidity 

ALWAYS refer to the Terms of Business before trading with the broker. It will spell out very clearly how they deal with you as a retail trader. You will want to know how your interests are protected before trading with them. Read carefully.

https://www.fxprimus.com/en/terms-of-business

Trade Execution

I find the TRADE EXECUTION POLICY to be one of the most important documents that traders need to go through before trading. You need to know that the broker needs to protect themselves under certain market conditions, especially if they are MARKET MAKERS. Reading through the policy will help you to have a good idea the standard of trades execution and also know under what circumstances you can contest the executions of trades.

So for example, if you take a look at NEWS TRADING, they are telling you that you can afford slippage and cancellation of orders if you intend to do news trading. In other words, you can tell straightaway what kinds of strategies you can and cannot employ with the broker. 

And yes, you can suffer a NEGATIVE ACCOUNT BALANCE if you over-leverage.

Since we are on the topic of negative account balance, the MARGIN CALL & MARGIN REQUIREMENTS policy is of extreme importance. Please familiarize yourself with the terms, and know what the level of liquidation is.

I STRONG RECOMMEND that you take time to scan and read through the rest of TERMS OF BUSINESS. 

Why? Because there will be times where you are charged overnight adjustments multiplied by three at 23:59 each Wednesday (3-day SWAPS), and you wouldn't even know how that happened.

Finally, I leave you with Forexpeacearmy, the No.1 source for FX Brokers Reviews.

http://www.forexpeacearmy.com/public/review/www.fxprimus.com

In summary, my only advice is that if you want to trade with the Broker, you have to know their rules and abide by them. Always be prepared and do not be caught unawares.

Hope this will help you make a more informed decision about FX PRIMUS.

Good Luck!