Loyal Primus Review – Disappeared In Less Than A Year

This broker is registered in St. Vincent and Grenadines in 2021, under the ownership of Loyal Primus Limited. They claim to be regulated by FSCA, but also to be a member of the US NFA.

However, already at first glance, you can see the smoke. But to reveal the fire, read this Loyal Primus review carefully.

Legal Info: Is Loyal Primus Legit?

In the first place, Loyal Primus broker is registered under the name Loyal Primus LTD. Even their T&Cs show that. However, the FSCA register where they claim to be registered shows the entity Loyal Primus (PTY) LTD, which this broker doesn’t mention anywhere. It’s important to know that FSCA doesn’t show broker’s domain, so anyone with a similar name can pass for a legitimate firm.

But more importantly, the NFA membership is completely fake. Even if we believe that their FSCA license is real, it can’t compare with Tier 1 licenses. Such as FCA, BaFin or ASIC. Which Loyal Primus doesn’t have.

Who Are Loyal Primus’s Clients?

Since 2021 when the company started, according to who.is, they were mainly active in Asia. But there is one country with strict regulators on their target list. Anyway, most of their traders come from: 

• Malaysia
• Indonesia
• Singapore
• Brunei
• Australia

Regardless of your country, you can leave a comment below about your experience with this broker. Also, you can book a meeting with our chargeback experts if you want to get your money back.

Leverage, Commissions, Spreads, Fees and Taxes

The leverage with this offshore broker goes up to 1:1000. This is not something experienced traders are looking for. Especially not without a negative balance protection that Loyal Primus doesn’t offer, by the way.

Another sign showing that Loyal Primus broker might not be legit are other costs. Practically they don’t reveal any of those. Even though they claim to offer spreads from 0.6 pips, that’s most likely far from true. So, plenty of room for manipulations.

Bonuses

Of course, like any other offshore broker, there are bonuses available. Thus, bonus conditions are not precisely revealed. But keep in mind that bonuses often come with strings attached. So, withdrawals become practically impossible.

Loyal Primus Trading Features

As can be seen, Loyal Primus forex brokers offer highly trusted MT4. With all the advanced features, fast executions and charting options, it’s quite a useful technology.  But guess what, you can’t access it unless you register with them.

Therefore, don’t let Loyal Primus MT4 trick you. Because they still offer risky conditions without any protection. On top of that, they might just get your contact details this way.

Is Loyal Primus Legit?

If we trust their FSCA license, then potentially. Thus, they do not reveal trading conditions or bonus policies. Neither do they have any trusted regulations like ASIC, since they provide services in Australia.

But anyway, you should opt for more transparent and strictly licensed brokers. But be sure that 70Trades broker is not one of those.

Available Trading Assets

After all downsides here are coming more of those. The company only offers a few investment classes. But nothing attractive or reliable indeed. Anyway, you can trade with:

• Forex – USD/JPY, AUD/SGD
• Commodities – gold, platinum
• Indices – DAX30, FTSE100
• Cryptos – BTC, USDT

Account Types

Loyal Primus Forex Broker claims to offer two account types. Thus, there is no big difference between the accounts. Those are: 

• Standard – $15
• Standard Pro – $100

Mobile Trading App

As any company that uses MT4, they can offer dedicated mobile apps. Indeed, they do. But if you will get access to the Loyal Primus terminal it’s hard to determine without a demo account.

Demo Account

Yes, as you can see, the company claims to offer a demo. However, they don’t. All their steps lead to full registration. After all, that’s an easy trick to get your contact details. 

But if you want to learn how to diversify good from bad brokers, read our ZES Forex review.

Loyal Primus Withdrawal

In the first place, Loyal Primus withdrawal time is up to 3 business days. But they only offer e-payments and crypto as options. Since these are also funding methods, you should know that both options are irreversible.

Nevertheless, the company doesn’t reveal any fees. Therefore, you can expect a non-existent one. Also, some of the known tricks to prevent withdrawals are AML laws, verification issues and taxes. Make sure to watch out for those, before you get tricked into depositing more money. Or lose everything.

Customer Support

One of the major red flags is that the company doesn’t offer trusted contact options. They don’t even reveal their working hours. Anyway, you can only try reaching out via e-mail or web form. But if they don’t like your request, they can ignore you without any consequences.

Key Information To Consider About Loyal Primus?

In the first place, the company is misleading traders to believe they are NFA members. Even their potential FSCA license doesn’t make them reliable, simply because they don’t offer transparent services and conditions, such as Loyal Primus spreads. Not to mention funding options and withdrawal policy.

In any case, potential issues are expected. If that happens, our refund team is eligible to advise you on further steps. Ultimately, the choice is yours. Get in touch and book your first free meeting today!

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