FXPrimus Trading Platform: Competitive Spreads for Forex

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Updated: 25 March 2020

Providing a secure online trading environment, FXPrimus aims to be the best Forex broker by pursuing extra safety measures to ensure clients are highly protected during their trading. As well as being known for its Forex trading, the company also offers options for clients to trade in commodities, indices and energies, providing a high level of academic, practical and technical support whenever it is needed. Using cloud-based servers FXPrimus has excellent connectivity worldwide so trades can be executed quickly and accurately and uses fxprimus mt4 as its trading platform.

  • Easy to use
  • Fast trading
  • Mobile options
  • Tools for analysis

Easy to Use

Trading Forex or any other financial product can be complex, so traders need the right technological tools to support them on their trading journey. FXPrimus offers traders the use of Metatrader 4, a powerful and flexible software tool that can be used by people who are new to currency and other financial products trading and by those who already have experience and want to develop their own automated trading configurations.

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There are two main options for traders using fxprimus mt4, the first being Last in First Out (LIFO) with the alternative being the option of using hedging so that potential losses or gains can be offset. These options are different from the MetaTrader 5 trading platform, and in a Forex broker comparison the fxprimus metatrader is considered by many traders to be the gold standard of platforms. MT5 has a default position of LIFO and there is no support for a hedging option, so the MT4 offers a choice for traders to develop the trading method they feel best suits them.

FXPrimus has a strong educational support base for the MT4 platform, so inexperienced traders can take time to learn the business through educational videos, a glossary of Forex terms, advice on how to use trading calculators and access to an economic calendar.

Fast Trading

Markets are volatile so it's essential that traders are able to make quick decisions on their positions and have the technology available to ensure their deals are as instantaneous as possible. Fxprimus mt4 shows constantly changing data so traders can see market movements as they happen and access information to give them a wide overview of what is happening. MT4 can process dozens of different financial instruments and is used in particular by retail investors who buy and sell currencies. Although Forex is one of the most popular financial instruments for trading, FXPrimus mt4 clients also have access to equities, indices, futures and other CFD transactions. The platform has a user-friendly interface and a range of features that include advanced charting, automated trading options and technical analysis tools, enabling traders to keep up-to-date with everything that goes on in the markets they are interested in.

Trading is a demanding business and fxprimus metatrader offers a powerful tool that is highly secure and also has the option for mobile trading through its app for Windows, Android and iOS operating systems, for both tablets and smartphones. The ability to trade from anywhere in the world is important for those in the business as more and more people are on the move when working. Being able to check the markets whilst at an airport or travelling by train brings advantages that traders did not previously have, so they can keep in touch at any time and trade whenever markets are open.

Mobile Options

Forex trading, as a global operation, often means that retail traders are in competition with large financial institutions when trading, and for many of these traders the option to work while on the move is an essential part of how they do business. Desktop computers running MT4 can make things easier to see with a larger screen and it's a similar case for using laptops. However, technology has moved quickly to provide apps for mobile devices, with businesses realising that traders want 24/7 access to the markets when they are open. The fxprimus metatrader platform for mobile devices means that traders do not have to be in the office all day but can keep tabs on their trades and market movements from wherever they are. For desktop computers, MT4 is available for Windows 7, 8 and 10 and for Apple Macs, and easy access is also available for the WebTrader platform for traders who want to access their trading environment either by their desktop or their mobile device without having to download a program.

The apps, which are available for Windows and Android mobiles as well as iPads and iPhones, have functionality that is nearly identical to the platform used by desktop PCs, with the added advantage of being able to trade on the move as long as there is a wireless connection to handle the amount of data coming through. Traders using mobile devices get full access to their trading portfolios as well as customisable tools.

Tools for Analysis

Analytical tools help traders navigate their way through the ups and downs of markets so they can be as prepared as possible when it comes to making predictions about their trades and at least have an idea of where their particular market may be heading. Trading can be a risky business and pure guesswork is unlikely to have a positive outcome, making the MT4 analysis tools a key part of what the platform has to offer. The Forex market in particular moves very quickly and there are often political problems in a particular country that can spook that market and drive major currencies up or down. Sometimes it's hard to work out which way a specific currency will go and if a country has had a poor economic quarter or is volatile politically its currency could plunge for a time against others.

The MT4 platform has tools for analysis that allow traders to look at the Forex market and detect specific patterns and trends to get a better understanding of what the market is doing. Using symbol charts with typical figures or shapes, the platform can help traders when predicting how future exchange rates might change, allowing them to define their entry and exit points. With 30 built-in indicators for the analysis tools, traders are able to get access to 2,000 custom ones free of charge and they can choose from a further 700 that do have a charge.

Forex Trading with MT4

Forex is a vast market and trades around $6 trillion every day so it's important for traders to have access to it through a reliable and fast platform. MT4 provides that efficient platform and plenty of support to help new traders in particular get to grips with trading currencies. The basis of Forex trading is the pairing of currencies, with the trade based on the trader's decision as to whether one currency will increase its value against its pair or decrease in value. There are four major pairs for currencies:

  • euro and US dollar,
  • pound sterling and US dollar,
  • US dollar and Japanese yen, and
  • US dollar and Swiss franc. There are also three minor pairs: the US dollar with either the New Zealand, Australian or Canadian dollar, though pairs can be made with any currency traded.

With MT4 traders can assess the Forex market and use its analytical tools to spot trends and fluctuations. It's also useful for traders to keep an eye on economic and political news as this can sometimes have a dramatic effect on the relationship between currencies. As with any form of trading, the Forex market can be high risk and traders unfamiliar with it need to take time to get a full understanding of how it operates before investing capital. FXPrimus clients  can open a demo account using the MT4 platform with no risk to start to develop their understanding of the market and practice with virtual money.

FXPrimus Fees

FXPrimus offers Micro, Mini and Standard lot trading that traders can self-direct or have managed by the company's in-house experts. The company also offers non-trading accounts as an IB (Introducing Broker) or as an Affiliate. Spread types for accounts can be variable or ECN Premier. Base currency accounts are offered in US dollars, euros, pound sterling, Singapore dollars and Polish zloty. Clients who register for an ECN (Electronic Communication Network) Premier Account must agree to have a 1 pip (approximately $10 USD) commission deducted from their account in real-time for the equivalent of every standard lot traded. For a mini lot (0.10) there will be a charge of around $1 USD and for a micro lot (.01) a charge of approximately $0.10 USD. Any commission is deducted at the time the trader exits the trade and is not refundable.

To open an ECN account, traders will have to put down $500 USD and get access to the best available bid and ask prices as well as full transparency and the facilitation of trading both during and outside market hours.

Overall, as we noted in our FXPrimus review, this broker has low to medium fees. There are no charges for deposits or withdrawals; deposits can be made by bank or local wire transfer and credit cards as well as with a range of e-payment options, including Skrill, Neteller and ecoPayz.

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Safety of Funds

Safety of funds is a primary concern for FXPrimus, and one of the most eye-catching is the company's offer of free insurance for clients of up to €2,500,000 (approximately £2.2 million). A third party, Boudica Client Trust, has been appointed to oversee all withdrawal requests to make sure that all such requests are executed without delay. Client funds are protected by being segregated from the company's own funds to ensure they are protected in case the company cannot fulfil its financial obligations, though this is considered unlikely. The company has independent auditors both externally and internally to reassure clients that everything is above board and complies with the financial regulators. Equity is protected from extreme market volatility and will never remain negative, with coverage for any losses a client might have that exceed the account balance.

There is always a risk element when investing in any financial product, and traders should be clear as to how much money they are prepared to lose if trading on particular markets does not go as planned. FXPrimus' safety mechanisms should ensure that positive funds held with the company are as well protected as possible. Security is such a huge part of a Forex broker and can be a make or break factor when it comes to customer trust.

What Do We Think?

The MT4 platform that FXPrimus offers its clients is considered by many in the financial world to be the best online trading platform, especially for retail clients. As with any piece of software it takes time to get to know it and the many things it can do to make trading life easier, and FXPrimus has plenty of educational materials and tutorials to help new traders in particular get to grips with the logistics of trading Forex. An additional advantage of the platform is that traders don't have to specialise in Forex but can use it to trade many other products, including precious metals and other commodities and indices.

Traders with more experience also have the option to customise the platform to allow for automated trading, which is ideal for those who don't always have the time to keep with the markets all the time. The mobile options for smartphones and tablets are an attractive feature and with no fees for deposits or withdrawals clients can buy into a low-cost method of trading. The company's concentration on safety and security for its clients is a positive move and will help traders feel that their funds are being looked after properly, encouraging trust in a febrile financial world.