FXPrimus is a global Trading Platform which states that its mission is "to provide the safest available online trading environment". Is this an accurate statement? We will review this and more. This article requires a basic knowledge level in Finance and Trading; if you are in doubt of any of the referred topics, do not hesitate to leave us a message through our contact form, we will try to answer your question as soon as possible.
FXPrimus: Trading Financial Instruments in South Africa with a Global Focus
Although it was initially conceived as a Forex Trading website, FXPrimus started offering CFDs on Stocks, Indices, Metals and energy-related instruments (oil and gas). In some regions, it also provides Crypto Trading. FXPrimus runs on the globally recognised MT4, one of the trading platforms with the most significant number of users globally. Another interesting fact for customers based on specific regions [Not available in the EU] is that the broker offers a 100% deposit bonus for clients residing in South Africa, which means that when the customer deposits an X amount, FXPrimus will double the amount available to invest. There is no doubt that this is a remarkable aspect of this broker.
Currently, the African continent is one of the fastest-growing regions in terms of the number of new traders. This is why FXPrimus focuses its efforts to acquire new clients residing in the region by offering the bonus and webinars, live market analysis, and daily trading updates, among other valuable tools.
Financial Instruments available with FXPrimus
Forex: +42 FX pairs - Majors, minors and exotics.
Shares: +105 CFDs on American Shares.
Indices: +15 indices on major Stock Exchanges.
Commodities: +12 CFDs on energy and metals.
Cryptocurrencies (Only available in some regions): +7 CFDs on the most popular Cryptocurrencies.
Futures: Oil and US Dollar Index Futures.
FXPrimus claims that it's the Safest Forex Broker, but, Is this true?
The best way to confirm if a Broker is trustworthy is through its regulation and the security measures applied to the client's funds. Usually, trading platforms are regulated in different countries, and each of these subsidiaries offers a subset of services, depending on the country and region. For example, a broker with a subsidiary in the EU and Australia will provide different levels of leverage. FXPrimus is regulated in various jurisdictions, in the European Union (Cyprus), South Africa and Vanuatu. Its motto is "The Safest Place to Trade", an aspect that is reinforced by the fact that:
Customer accounts are split from company accounts. What does this mean? Since client funds are deposited with a third party, these funds can only be returned to the client; in other words, FXPrimus can't use the client's funds for any other purpose.
FXPrimus has partnered with an independent entity, the Boudica Client Trust, which monitors the fund withdrawal process on behalf of the Traders. That is, the Boudica Client Trust ensures that withdrawal requests to FXPrimus are run as quickly and efficiently as possible. This is a crucial aspect since the withdrawal process is usually controversial when dealing with many Brokers.
Although FXPrimus's "Safest Place to Trade" statement is a bit inflated, the security measures taken by this broker are definitely above average.
MT4: Top FX Trading Platform [Available with FXPrimus]
MT4 is one of the most widely used [and complete] platforms for Forex Trading. MT4 connects different Brokers to get the best prices available. It is a downloadable app that is available when Trading with FXPrimus.
FXPrimus offers tight spreads: Check out the EURUSD one.
How to Open a Trading Account with FXPrimus in South Africa
As with any other online app, opening a Trading Account with FXPrimus is quick and straightforward:
Upload an ID (Passport or National ID Card) and a Proof of Residence.
Choose the base currency: US Dollars, Euros or Sterling Pounds.
Deposit funds via Credit Cards (VISA and Mastercard), eWallet Transfers or Bank Transfers.
But I don't have much capital. Can I Still Trade with FXPrimus?
Of course, you can: FXPrimus minimum deposit is only USD100, meaning that you can start trading financial instruments with a meagre investment amount and remember about the 100% Deposit Bonus.
FOREX TRADING IN SOUTH AFRICA WITH FXPRIMUS [CLAIM YOUR 100% DEPOSIT BONUS]
FXPrimus runs on the globally recognized MT4 Trading Platform. Claim your 100% Deposit Bonus Today.
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