Is FXPrimus A Good Broker?

Here is my FXPrimus review. Is FXPrimus a good broker? This is the very first broker that I signed up with and use when I started trading. I have had tested different type of live accounts with this broker and here is my frank opinion of their performance.

Brief summary about FXPrimus.
Founded in 2009, registered in Mauritius and have recently moved its headquarters in 2015 to Cyprus because of some compliance issues with existing rules and regulations.
Offering Leverage of 1:500, minimum deposit at US$100, with 3rd party managed segregated funds and negative balance protection.

Follow this link if you are looking for more info about FXPrimus.

Type of Accounts with FXPrimus

I have been trading on/off with them since 2011 using different type of account.

Variable and ECN didn’t meet my expectations to suit my trading style so I dumped them. Commission chargeable is US$10 per standard lot traded for ECN which I find is relatively high and it doesn’t work well with a certain trading strategy of mine.

Moving over to fix spread (this is no longer offered on FXPrimus at this point of writing). I love to trade news release and it’s not easy to find brokers that allow me to do that without spread opening or freezing frequently. I use fix spread for news trading and FXPrimus is one of the few brokers where I don’t see spread opening up before and during critical news release.

It worked well for a while but then it started to behave funny. Many of my trades start hitting my SL recently (starting July 2015) when the bid/ask price have not reach my SL (by watching video after trade is over) in my MT4 terminal during the news release.

Out of habit, I normally take videos of all my news trade because spread can open up where our eyes couldn’t catch. Through videos, we can slow it down and also go frame by frame to see how much spread actually open up after everything is over.

Checking with FXPrimus support about my trades but I was not convinced with the answers I received and the results of my trades.

So Is FXPrimus A Good Broker?

I have decided that FXPrimus is not the broker for me after these many years of trading with them because what they offer doesn’t match my trading style. I decided to let my trading partner take over my trading account and continue trading with them since he doesn’t have any problems trading with them using his strategies.

Again, I must Emphasize that what doesn’t work for me Doesn’t Mean that FXPrimus is not going to work for you. If you have been trading with them and everything is working well for you, by all means stay with them.

Follow this link if you are looking for more info about FXPrimus.

Hope the info you find here in my FXPrimus review is helpful to you. Good luck and safe trade!