PrimusFX Review – Be Responsible or Be Robbed
It isn’t often to see a brokerage so anonymous in every possible aspect of their conduct. Slips always happen. However, not with PrimusFX. This site is basically anonymity redefined.�
Brokerage hides the ownership, address, contact info and background in total. There isn’t even a way to contact them at all! And don’t even get us started on the missing license and legal constructs. It’s what got them on the CNMV blacklist, after all.
Better read our PrimusFX review before making any investment decisions that would make you regret them later.�
|Unregulated Anonymous Brokerage
|Blacklisted as a Scam by:
|Webtrader, Desktop app
|Yes (BAT, BTC, ETH, IOT, ZEC)
|Types of Assets:
|CFDs on Indices, CFDs on Commodities, CFDs on Stocks, Forex, Crypto
|Free Demo Account:
|Accepts US clients:
Is PrimusFX a Scam Broker?
There’s no easier way to put this. But we like to be straightforward as much as possible. PrimusFX is not regulated by any Tier 1 or any other financial institution. To make sure of it, we’ve first checked the registers of entities that supervise the brokerage activities in various areas.�
By these we mean FCA, BaFin, CySEC, ASIC, NFA and FINMA. The name didn’t appear in any of these catalogs. However, PrimusFX did come up in search results at CNMV. The Spanish regulator has labeled this company as unreliable and unauthorized to offer their services.�
Being regulated in EEA means having deposited at least 730 000 EUR upon applying for a license. The regulatory framework to respect accentuates the need for the top security measures. Segregation of clients’ deposits through separate bank accounts is one of them. Next we have the leverage ratio set at 1:30 at most and negative balance protection to reduce the risk of overexposure.�
All EU brokers with Tier 1 license also abide by the ESMA rules in the form of MiFID. It serves as a law construct that regulates the transparency and implementation of AML measures. PrimusFX is in no way transparent and shows discrepancy in many aspects. For your funds’ safety, it would be the best to pass on their offer. They’re not blacklisted for nothing.�
Warning Issued by Financial Authorities�
PrimusFX has officially been operational since the end of 2022. Although not long, their history is already stained with public warnings against them. The first warning, for now, comes from the Spanish regulator, CNMV. You can find it on the following link,
As the warning states, this broker holds no permits and authorizations to offer their services and products to Spanish investors. ����
PrimusFX Platforms – A Software Comparison
PrimusFX isn’t humble in the least when it comes to speaking of their platform. It is supposedly so intelligent and advanced, users can perform automated trading and make their every investment lucrative. Right off the bat, the desktop app seemed like malware. We had to refer to the web trader instead.
A fairly quick registration process opened the way to the web trader. In spite of all the claims about its exceptional performance, it turned out to be an overly simplified web terminal. Basically useless for any real trading, these types of platforms are just used for easier data manipulation by the scammer themself.�
What Financial Instruments Does The Platform Include?
The several tradable asset classes we managed to detect from the platform itself are the following:
- Forex (EUR/USD, EUR/GBP, USD/CAD, AUD/NZD)
- Crypto (Bitcoin, Ethereum, Polkadot, Ripple)
- CFDs on Commodities (coffee, cotton, soybean, copper)
- CFDs on Indexes (UK100, EU50, ES35, DE40)
- CFDs on Stocks (Boeing, Rolls Royce, Tesla, Amazon, McDonalds)
PrimusFX Countries Of Service
As the complaints suggest, PrimusFX has a widespread area of service with a preference for the EEA. It is as if the broker frantically searches for victims anywhere possible. They don’t just target more loosely regulated zones. No traders are safe.�
These are the countries where most of the victims reside:
- United Kingdom
Account Options Offered by PrimusFX
The broken English PrimusFX uses to explain the advantages of buying their packages doesn’t spark much trust. Not to mention how pricey they are. If you’re willing to invest a considerable amount of wealth, you will supposedly get premium education, trading signals, and competitive conditions. PrimusFX doesn’t disclose the exact trading parameters that come with each account type.�
Here’s how much you have to pay for each of them:
- Classic Account – $500
- Gold Account – $5 000
- Premium Account – $50 000
Can a Trader Use a Demo Account?
PrimusFX website shows no signs of the existence of Demo accounts. As the current offer stands, only the live trading accounts are available.�
Usually, reputable brokers will offer trial accounts with virtual funds for test-trading. PrimusFX has too much to hide to let you dig through their platform,� trading conditions and the entire environment. Therefore, Demo accounts aren’t available.�
Terms of Service for PrimusFX�
Constant in their lack of transparency, PrimusFX legal docs do not reveal much of the most important parts of trading. Such circumstances can also be detected at Enerixinvest.
Both of these shady companies have a construct called ‘’non-deposited funds’’. It refers to bonuses and demands a certain trading volume reached before its withdrawal availability.�
Ruthless in their demands, PrimusFX further makes their Terms of Service an evidence of their strictness in charging fees. To avoid these and many other unpleasant surprises, make sure to always read the text of these docs, as long as they may seem.
Leverage, Spreads and Fees
By now we’ve gotten used to seeing a bunch of misleading information by PrimusFX. The broker keeps mumbling about the generosity and excellence of their services. Alas, they do not disclose the particularities of it. Just like Deltafx, the broker only shows misleading and unrevealing details on the specifics.
Leverage and all trading costs are especially shady and suspicious in that sense. The traders are agreeing to something and paying for it without even knowing the details.�
What Should I Do If I Have a Problem With PrimusFX?
First and foremost, the loss of life savings and big capital would make anyone desperate, we’re well aware of that. Nonetheless, you have to keep a level head and organize your response to the scam.�
Contacting us for a free first consultation could help you learn your sources and potential methods of reaction. As any victim needs a listening ear, we can provide you one. So do not hesitate to get in touch. We can equip you with the information that could help you recover your funds and you can share with us your precious knowledge on this or any other fraudster.�
What Is PrimusFX?
PrimusFX is a blacklisted brokerage website operating from an unknown location and without any authorisation or license.
Is PrimusFX a Regulated Broker?
As all the evidence suggests, this broker is not regulated by any Tier 1 entity. If anything, they were actually blacklisted recently by the Spanish CNMV.
Does PrimusFX Have a Referral Program?
Judging from the information on the website, the broker currently doesn’t support the referral program.
Does PrimusFX Offer a Demo Account?
No, PrimusFX doesn’t allow users to open a trial account that would let them trade with virtual funds.