FXPRIMUS Reviews 

Biggest Scammer, this dishonest broker changed rules to force losses.

I made a series of trades and was waiting for the market to reverse.
FX Primus sent multiple emails changing the rules without notice.

The first was sent on June 23, saying "Effective immediately AUDCAD will be placed on Close-Only mode until further notice on our trading platform..." ... basically we we were not allowed to make any more orders, only close existing ones. Then it got worst, on June 30, they raised their margin requirements by 10 TIMES. This meant we had to DEPOSIT 10x what we had if we didnt want our account to go to bust in 3 days. It was absolutely absurd!

Then again on July 3, they made additional changes and said "There will be changes to the Leverage limitations for all symbols available on our trading platform starting today. The Margin requirement for one lot equals 200 USD at account with 1:500 account leverage. As of July 3rd 2023, the relevant margin requirement will become 2,000 USD."

They raised margins on all other pairs so we we couldn't trade any other pairs to help breakeven or hedge our existing losses.

Fx Primus' slogan is "The Safest Place To Trade" ...bull sh!t! Literally a lie! I've never seen such a scam, the company straight up forced client's into losing their money, literally stole client's hard earned money without apologies, compensation or consequences.

We trust you as a broker and deposited money into YOUR platform. Then you turn around and made relentless rules for your own benefit.

Stay Away from this dishonest and irresponsible broker!

TL;DR

- High spreads
- Sudden margin increase by 1000%
- Disappearing account managers
- Non-responsive customer service

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On the 1st of July 2023, FX Primus had suddenly decided to increase the margin requirements by 10 times, or 1000%, giving a 48 hours notice via an email while the pairs the account was trading was holding a paper loss.

The current status of my account was still nowhere near liquidation and it is still relatively safe:

Balance is $4276
Equity is $2958
Margin is just $462

Free margin is $2496
Margin level is 640.42%

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This means after the sudden margin increase, the margin level of this account would just be 64.04% putting it in serious risk of liquidation without even the market moving.

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Furthermore, FX Primus then increase the minimum margin call of margin level to 50%. So all it takes is a slight dip to drop the account's margin level from 64% to 50%.

FX Primus also increased the liquidation of the account to a margin level of 30%.

During this period of June to July 2023, none of other brokers made such a drastic change of margin requirements.

The account manager assigned to me also deactivated his account on a 3rd party chat app and ran away a few hours before FX Primus sent out this email.

Forcing me to make decision without much information, should stay with this broker and risk losing the entire account simply due to them changing the margins or cut my losses and find a better broker?

This broker also charges a much higher spread compared to other brokers. Giving back the spreads to the ones that introduced this platform to you. Don't trust the people that push you to this platform.

Essentially, you have a very good chance of losing money to this broker's unscrupulous tactics and your recruiter even if you have perfect trading strategies.

I've been in the stock market for 15 years, crypto market for 7 years, forex market for 4 years, this is the worst platform I've used so far.

Just use real and verified brokers. Not this atrocious platform.

So I made a deposit today and it was instantly processed into my account within minutes. Mario at fxprimus was great help and takes care of me which I appreciate a lot.

I have 6,361.75 dollars stuck on this site for more than 30 days and they don't pay me, they ask me for more and more documents I send everything and I've done everything and they don't pay me, and I really need the money, this is hurting me a lot, mostly psychologically. my account number on the website is 5104794

I have been trading with this trade company for quite some time now, and I can confidently say that they are one of the best in the industry. Their platform is robust, intuitive, and packed with useful features.

Very helpful with withdrawals and a personal account manager who is great (Andreas)

I have been trading with this trade company for over a year, and I am extremely satisfied with their services. The platform is user-friendly and provides a wide range of trading options. The company's customer support is outstanding, always responsive and helpful.

I saw fxprimus on youtube. I signed up an account not know much about it, but after registering I had the member of the team called me and assessed me with a very think and still helping me with the platform.

I placed my funds with a Cayman Islands Monetary Authority regulated Mutual Fund, Praesidium Global which ceased trading on 15 July 2020. The fund went into liquidation and because there is no administrator or liquidator as it was such a small fund with only two investors they claim they cannot return any funds.
The fund was originally administered by Apex.


This fund had been set up just like most funds:


• Independent Directors, no affiliation to the Investment Manager

• Separate Administrator who controlled the Bank Accounts

• Investment Manager / Beneficial Owners

• Top five Auditor

• Top Ten Bank

• Prime Broker – FX Primus



On account of closing FXPrimus my last NAV statement was US$83 000.00. 

Perhaps posting here publicly will get a response. How can they legally just hold onto my hard earned cash? I have emailed them repeatedly and had a long conversation with their CEO who promised to help me … since that conversation NOTHING! They continue to hold the funds and won’t communicate with me.


Frustrated 


Carrie

An update to this post:
The CEO of FX Primus contacted me and made it clear that the funds are protected by regulatory rules and safe. FX primus cannot pay the money due to these rules.

I am not attacking or blaming FX Primus. I have no recourse but to point out FX Primus on this matter as the last remaining related entity.
I have been chasing this since May 2020. I have had no success or progress.
I have written over 20 letters, contacted ombudsmen all over the world, been at the throats of everyone and now, 3 years later, there is no one else to speak to.

What does a member of the public do when an investment fund no longer exists. My funds are "protected" and acknowledged in a safe FX Primus account.
What good is this "protection"?

I pose the question to anyone investing in these perfectly "safe" funds. What recourse do you have?
With no governing company (as it was theoretically liquidated) or directors, liquidators or fund administrators, why can FX Primus not pay over the NAV attributed to me, rather than just sitting on my hard earned cash?

Carrie

I just started trading with them. Good luck to me.

If you're looking for a broker partnership to enhance your business offering - FX PRIMUS is worth avoiding.

After successfully delivering good quality business to brokers for the past 3 years we decided to try out FXPRIMUS after our previous broker had regulatory issues and changes.

Constantly being told how good our business is AND that management is very happy with the traffic flow - our first two payments were received albeit weeks late as the management had to 'review profitability'. This consequenty delayed our payments to staff.

After this we were due to be paid on $8000 before they turned round and said the max we can pay you is $1000.

This company will go back on its promises and I wouldn't trust them.

Also the sales team can be very offputting for clients, even after mentioning that we wanted our clients on a NO CALL list except for support our clients were pestered to deposit more and sign up to their education and signals on more than one occasion.

Be careful dealing with FX Primus, they are the least professional brokership I've dealt with in the past 4 years.

Spreads are sky high. Customer support people are rude. Withdrawals take forever. Stay away from this broker.

I've written 3 emails with and gotten zero responses. 2 to support (weeks ago) that never got so much as an acknowledgement. 1 to withraw funds. No reply there either.

I've tried to add withdrawal info but when I do the button to submit stays grey.

Very unhappy!

As I was committed that I will have a swap free account, I opened the account only last month. Within one month, the swap is being charged on my trades which is disappointing.

Horrible customer experience.
i AM a VIP customer, but was treated very poorly.
I know my feedback doesnt make a difference or matter to you, but since you asked, please know that such services to your clients will not make your business be succesful. Yes i understand that the ceo or the owner will make money. Thats just it

I cannot deposit on my fx primus account..

Im in indonesia.. I withdraw friday night (23.00), and i received in monday afternoon (might be 15.30).
Nb : at indonesia time.
In first time im join primus (march 2020),the process is very fast (not like now).
Thank u

I am happy with the customer support service. I had an issue with login failures in my account. They are just the best. Good Support from Mr.Mohammad Faiz from Malaysia.

Very Fast response