primus

General Information & Regulation

Primus is a forex broker registered in UK, with its founding time, actual address and the company behind it unknown to all. Primus is not subject to any regulation.

Markets Instruments

Tradable financial instruments available on the Primus platform include currency pairs, commodities equities, index CFDs.

Minimum Deposit

Primus offers three trading accounts, with the minimum initial deposit of the Standard account is relatively high, reaching up to $500. Keep in mind that most legit broker only requires a minimum initial deposit of $100 or even less.

Leverage

The maximum trading leverage offered by Primus is capped at 1:30.

Spreads & Commissions

Primus carries rather excessive mark-ups, as evident in the listed spreads, which start from 2.0 pips in the EUR/USD. While FXPRIMUS advertised a 0.0 pip spread for select instruments, it is unclear where exactly that applies. Equity CFDs carry a $0.10 commission per share. As such, the cost structure is unacceptably elevated. Overall, FXPRIMUS is somewhat vague about trading costs. The website lists all charges at various sections, but a central approach is notably missing.

Trading platform Available

Being an unregulated broker, Primus offers the counterfeit MT4 trading platform. MT4 remains the most popular choice among Forex traders due to its full support for automated trading solutions. Thousands of third-party add-ons allow traders to customize and enhance their trading experience further. FXPRIMUS grants a Trading Tools Suite of five add-ons to provide traders with an improved MT4 platform.

VPS Services

Primus offers VPS hosting to support automated traders. The VPS hosting service is free for clients who maintain $500 in equity and trade five standard lots per month; traders who do not meet that criteria will be required to pay an unreasonable $30 per month for the service. The Platinum API allows third-party developers to create trading solutions without running the MT4 trading platform, however, this broker demands a $50,000 minimum deposit to gain access.

Deposit& Withdrawal

Bank wires, credit/debit cards, Skrill, and Neteller, represent the deposit and withdrawal options at Primus. The minimum amount in both deposit and wihdrawal is $100.

Customer Support

Traders may reach customer support via e-mail, by using the webform, calling, or through live chat when available. Operating hours join the list of missing items at FXPRIMUS, but a PDF presentation mentions them as 24/5.

Risk Warning

Primus is running a Ponzi scheme, which means that it is not investing, it is not trading financial markets, it is just collecting money from people and giving it to others. Newer deposits are used to pay out older profits. That‘s how Ponzi schemes operate. Ponzi schemes always crash in the end because they always run out of money, since the whole concept is an unsustainable scam. Don’t even think about participating in such an illegal scheme. First, it could crash right after your deposit, and you would lose everything. Second, even if you manage to pull out some profits out of Primus, it will be money that somebody else had to lose in that scam.