Trade EA Robots, Find A Cent Account And A $15 Minimum Deposit
|
|
FXPRIMUS Review
FXPRIMUS is a MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader broker offering trading in a range of CFD markets (totalling 1000+), which aims to provide low latency order execution across a range of account types. FXPRIMUS offers a wide range of tools to help the trader get the most out of MetaTrader. Trading is offered in Forex, Indices, Energy, Metals, Cryptocurrencies, Futures and Stocks CFDs.
What base account currencies are offered ?
A base currency is the currency in which the account is denominated. FXPRIMUS offers USD, EUR, GBP, SGD and PLN denominated accounts (some accounts types have less).
FXPRIMUS account types
FXPRIMUS offers its PrimusCent, PrimusClassic, PrimusPRO and PrimusZERO accounts. The PrimusCENT and PrimusCLASSIC accounts do not charge commissions, and have an average spread from 1.5 pips.
The PrimusCENT account is as the name suggest a Cent account, offering smaller trade sizes than the other accounts. This account could be used, for example to test out strategies on a live account with small trade sizes.
The PrimusPRO and PrimusZero account do charge commissions. The PrimusZERO has the lowest commission charge, of $5 per lot sound trip. The PRIMUSZero account, as its name suggests, can offer Forex spreads from 0, plus commission. However this account (which can be seen as aimed in particular at automated traders) has lower maximum leverage than the other accounts, at 500:1 versus 1000:1 (increasing leverage increases risk), at VFSC regulated FXPRIMUS.
The minimum deposit is $15. There is also an Economic Calendar and Trading Tools on the FXPRIMUS website (available to all).
Order execution
FXPRIMUS commits itself to rapid order transmission. This can be important for Forex traders particularly those who use automated trading strategies, which are allowed at FXPRIMUS.
FXPRIMUS uses data centers around the world to ensure proximity of their trading servers with local liquidity providers and utilises optical fiber cables for low latency order processing. FXPRIMUS makes use of data centers in New York, London, Singapore, Seoul, Hong Kong and China.
FXPRIMUS is a Straight Through Processing (STP) broker for all account types. STP is the electronic algorithm which matches clients orders via the broker with liquidity.
Platinum API
Traders who want direct market access using the FIX Protocol can do so via the Platinum API. This is available for clients who deposit a minimum of $50,000. The FIX API allows traders to run trading systems, outside of those provided on FXPRIMUS's trading platforms.
MT4 Trader Tools
For all accounts holder regardless of account size, FXPRIMUS offers a range of MT4 trading tools, to help the trader get more out of this platform. These include a news feed, a sentiment indicator (giving the sentiment of other traders to market direction for a given instrument), a market manager (which shows platform information even with the terminal closed), a mini-terminal for one click trading and a trade terminal to trade via a window which can be customised.
Trader Education
On FXPRIMUS's website there is a range of trader education tools, including videos and webinars. There is also the potential for personal contact via finance events and seminars.
Does FXPRIMUS charge deposit or withdrawal fees ?
FXPRIMUS does not charge deposit or withdrawal fees.
How may the trader make a deposit at FXPRIMUS ?
Deposits can be made by a range of methods including Bank Wire Transfer, Credit and Debit Cards, the FXPRIMUS MasterCard, Skrill, Neteller, GiroPay, Itau, FasaPay, China UnionPay, EcoPayz and BitPay. Processing times vary, but the quickest are Credit and Debit Cards and some E-Wallet methods (e.g. Neteller and Skrill) which have a processing time of 5 minutes.
Is FXPRIMUS regulated ?
FXPRIMUS is a brand name used by Primus Global Ltd which is regulated by the CySEC in Cyprus, with licence number 261/14, Primus Markets INTL Limited which is regulated by the VFSC in Vanuatu with registration number 14595 and Primus (Africa) Pty which is regulated by the FSCA in South Africa with licence number 46675.
Key feature summary
- $15 minimum deposit
- Cent account
- Low latency order processing
- MT4, MT5 and cTrader broker
- No deposit or withdrawal fees
- STP broker
- Trader tools for all clients
- Platinum API for direct markets access from $50,000 minimum deposit