FAQ - Frequently Asked Forex & Trading Questions | FXPRIMUS

FAQs

Who is FXPRIMUS?

FXPRIMUS, is an Investment Firm with registration number HE 337614, and is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license no. 261/14.  Click here to learn more about us.

Where is FXPRIMUS located?

FXPRIMUS is located at: 57 Kolonakiou Street, 1st Floor, Suite 102, 4103 Limassol, Cyprus

What are your client support hours?

Customer support is available 24 hours a day, 5 days a week via email and live chat from 00:00 GMT+3 Sunday to 00:00 GMT+3 Friday.

What is Primus Markets Ltd?

FXPRIMUS created PRIMUS MARKETS INTL Limited as part of our corporate initiative to accommodate more clients. This licensed entity is authorized to carry on the business of dealing in securities as a Principal by the Minister of Finance and Economic Management of the Republic of Vanuatu.

What are the necessary steps to open a Practice Account?

Click here to open your FREE Practice Account and our registration form will prompt you to enter the required information. Upon submitting your Practice Account registration, you will receive a welcome email supplying you with a link to download our trading software (MT4 Platform). 

Once you download the
application, please follow the steps below:
To create a new Practice account:

  • Open your MT4 platform and click File > Open an Account
  • Fill out your personal details, including your Account Type, Leverage and Deposit amount
  • Check "I agree to subscribe to your newsletters" and click Next
  • Select the "practice" server and click Next
  • Take note of your Login and Password information then click Finish and you will then be ready to start trading.

Note that we may ask you to supply some additional information.

How long is a Practice Account valid for?

Each Practice Account is valid for 30 days from the date of your registration. Click here to open your FREE Practice Account.

How similar are the Spreads and execution in a Practice Account compared to a Live Account?

The Spreads in the variable options should be identical in both Practice and Live Accounts. It is impossible, however, to make execution for both the Practice and Live Accounts identical. The reason for this is that a Practice Account assumes that all markets are 100% liquid, at all times. This is not how the live market works. During volatile market periods, i.e. US Non-Farm Payrolls, etc., there are times when the interbank is illiquid. This means that if you’re trying to execute a trade at 1.3001, and there is no bank that is willing to deal at that price, you will receive the next best possible price. This is the true definition of slippage or re-quotes.

FXPRIMUS differentiates itself from its competitors by offering superior liquidity, thus offering you the best opportunity for your trade to be executed, at the price you are seeking. FXPRIMUS clients should expect instant execution of their orders a majority of the time, but should also expect the occasional slippage or re-quote during volatile market conditions. However, the true litmus test of a brokerage firm’s execution, is not only how often the client experiences slippage, but how severe the slippage is. We cordially invite you to experience trading with us to see how we excel in both of these facets. Open a Live Account or a FREE Practice Account today.

Are the Practice Account platform and the Live Account platform hosted on the same server?

We host Practice Accounts and Live Accounts on different servers so that clients can test out trading methods and EAs on Practice servers without affecting the performance and integrity of our Live servers.

I would like to view two platforms at the same time (i.e., one Live and one Practice Account). Is that possible?

The MT4 Trading Platform only allows one instance running at one time per CPU. You'll either need to partition your CPU or run the second instance on a virtual PC.

What are the necessary steps to open a LIVE Account?

To open a live account, simply click here and complete the easy 3-step process to begin trading:

Step 1: Online Account Registration & Terms of Service Agreements

Our registration form will first prompt you to enter in all necessary account information. Upon completion, the form will direct you to accept our Terms of Service. In this section, our website will prompt you to read and agree to the terms as outlined in various PDF documents. Upon agreement and electronic signature, we will then prompt you to upload the necessary documentation (although you do have the option to upload your documents at a later time). At this point you are finished and we'll send you a Welcome email.

Step 2: Welcome E-Mail

The Welcome E-Mail will provide confirmation of your successful registration and it will prompt you to login to your FXPRIMUS Member Area to view various customer-only options. After our administration department has confirmed that all of the required information and documentation is in order, you will then either receive an Approval email or an email requesting additional information needed to approve your account.

Step 3: Approval E-Mail

The Approval E-Mail will provide you with confirmation that we have approved your account for trading. This means your account is now ready for you to fund it. We will also provide you with funding instructions as well as a link to download our Live Account platform along with a username and password to access your Trading account.

Why should I upload my documents?

At FXPRIMUS, safety is our mantra, and we make every effort to ensure that our clients undergo a fair, efficient and effective trading experience. As part of our commitment to the financial regulator, our clients and partners are requested to upload clear copies of two types of documents:

  • Proof of identification
  • Proof of address

UPLOAD MY DOCUMENTS NOW

What can i use as proof of identification?
  • A valid passport
  • Government-issued photo identification card
  • Drivers’ License
  • Voting Card (in countries where an Identification Card is not provided)
What can I use as proof of address?
  • Utility Bills: Gas, Water, Electric, Phone, Internet
  • Health / Life insurance invoices
  • Credit Card or Bank Statement (within latest 6 months)
  • Government issued valid color photo identification card (both sides)
  • Bank reference letter to certify the account holder’s residence location (within latest 6 months)
  • Passbook (must show account holder name, residence location, issued within the last 6 months and certified by the bank.
  • A professional Letter from an Attorney or Notary of which must be signed & sealed
Can I use a passport as Proof of Residence?

You may not use a passport as a Proof of Residence. Accepted documents have to include your name, current address and must be dated within the last 6 months.

Examples of a valid Proof of Residence document include: a utility bill - such as a water bill or electric bill, phone bill, cable TV bill or a bank statement or credit card statement. You can also use your driver's license provided it is less than 6 months old.

Can I use PO Box address for my proof of residence?

We cannot accept PO Box addresses with the exception of PO Boxes for applicants from Arab GCC countries including United Arab Emirates, Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.

Can I use one document for both forms of ID?

No. If your identification card has been used as proof of residency, the client must use a different document for their proof of identification (such as Passport).

UPLOAD MY DOCUMENTS NOW

How can I change my address?

Please email us at Support@fxprimus.com with your old and new address. Make sure to include your MT4 ID number and your username. An updated proof of residence must also accompany the email.

Why is my Country not listed?

FXPRIMUS does not offer its services to the residents of certain jurisdictions such as: Afghanistan, Cote d'Ivoire, Cuba, Libya, Myanmar, North Korea, Sudan, Puerto Rico, USA, and Australia and Syria

How long does it take to approve a new account?

Provided that all the documents and requirements are met, the process for new account approval takes about one business day.

What documents are required to open a Corporate Account?
  • Fxprimus Account Opening Questionnaire
  • Certificate of Incumbency OR Good Standing
  • Certificate of incorporation
  • Certificate of directors
  • Certificate of shareholders
  • Memorandum and articles of association
  • Certificate of Registered Address
  • KYC (Passport and utility bill) of ALL Directors up to a Physical Person
  • KYC (Passport and utility bill) of ALL Shareholders (with equal to/ greater than 10%) up to a Physical Person
  • KYC (Passport and utility bill) of Authorized Representative
  • Declaration of trust ( if the authorized person is opening the account)
How do I upload my POA?

You can upload your new POA document in the Power of Attorney section of your Member Area. Select the Update option. Click here to login.

What is my username and password?

Clients have two sets of username and password:

  • Clients create their username and password when opening a new account. Clients use this set to access the FXRPIMUS Member Area.
  • FXPRIMUS will create an MT4 ID and password for clients upon receipt of their initial deposit. Clients use these login details to access their MT4 trading platform. We email this MT4 ID and password to the client upon receipt of initial deposit.
I forgot my Member Area password or username. What should I do?

Click here to retrieve your lost password or username. Simply follow the instructions on the page.

    How can I change my MT4 password?

    For security purposes, we recommend changing your MT4 password after logging in for the first time. You can do this in your MT4 platform by choosing Tools > Options > Change.

    I forgot my MT4 username (called MT4 ID) or password. What should I do?

    To retrieve your Members Area credentials, please try the link below again:

    If you know your registered email address:

    https://account.fxprimus.com/en/site/forgotusername

    Can I choose any username I like?

    Usernames must have 3 to 32 characters. Usernames can only accept A to Z, numbers (0 - 9), and underscore (_). No spaces. No symbols. No special characters. Please note, Usernames cannot be changed at a later date.

    Can I change my username?

    Your username is associated with your unique authentication in our system. You cannot change your username.

    How many accounts can I open under one username?

    Your username must be unique to your account. You can have up to 5 accounts for each account username (including: Individual, Joint, Corporate, IB and Affiliate).

    What type of accounts do you offer?

    We offer Micro, Mini and Standard lot trading as a self-directed or managed account. We also offer non-trading accounts as an Introducing Broker (IB) and Affiliate account. Accounts can have Variable or ECN Premier spread types.

    What base currency will my account have?

    We offer USD, EUR, GBP, SGD & PLN base currency accounts.

    However, if a Money Manager handles your account, the currency of your account must match the currency of your Money Manager’s, MAM Account. For example, if your Money Manager Trades in USD, your account will be in USD, regardless of which currency you choose when you register with us.

    What is the commission for the ECN Premier account?

    By registering for our ECN Premier Account you agree to have a 1 pip (approximately USD 10) commission deducted from your account in real-time for the equivalent of every standard lot traded. A mini lot (0.10) will be charged approximately USD 1 and a micro lot (.01) will be charged approximately USD 0.10. This commission is deducted the time you exit the trade, and is non-refundable. Once you trade the equivalent of 250 standard lots or more in a calendar month, you will qualify for a lower commission rate of USD 8 per standard lot round trip traded (or equivalent thereof.) Therefore we will credit your account USD 2 for each lot traded. For example, if you trade 300 standard lots during the month, we will credit your account with USD 600 at the end of that month.

    What is an Affiliate?

    As an Affiliate, you can earn a passive income by referring traders to FXPRIMUS. This means we pay you generous commissions on every trade that your referrals make, for as long as they trade with us. All you have to do is focus on recruitment. We provide all the support to your referred customers. This is a great way to set yourself up with a lifetime of residual income! Learn more about the FXPRIMUS Affiliate Program and how to start earning today click here

    What is an Introducing Broker (IB)?

    As an FXPRIMUS IB, we pay you a commission on every trade from each of the clients you recruit to FXPRIMUS. Depending on the volume your client’s trade, you can gradually earn more and more commissions. You can also earn further by recruiting Affiliates under you, where we pay an overriding commission on their network's activity as well.

    As an IB you will need to provide support to your recruits and coordinate with us on any issues that traders and affiliates in your network may have. All IBs have a performance commitment, which we review together over time. We also provide you with personal assistance to help you further develop your IB business.

    Learn more about the FXPRIMUS IB Program.

    What is a Super IB?

    A Super IB is a designation given to a select few Introducing Brokers who bring a substantial amount of business. They are granted exclusive privileges, such as the ability to refer other IB's, and at times, earn a higher commission.

    When do I receive my commission payments?

    We pay all commissions no later than the 15th of the following month.

    What is PAMM?

    The PAMM Service is a software solution that makes it possible to copy trade operations from Master account to one or more Followers accounts and helps to automate profit/loss distribution. Masters operate their personal funds through a given PAMM Account, and their trading strategy is replicated on the Followers' own funds. PAMM Account performance can be viewed and analysed with the help of advanced analytics which provide information in digital and graphic forms. This present offer and service is of Primus Markets Intl Ltd (Vanuatu)

    Where will my PAMM account be registered?

    PAMM Investment Accounts will be created under a separate entity of FXPRIMUS, registered under Primus Markets INTL Ltd. Clients will need to register directly under the Primus Markets Ltd website via fxprimus.com/vu

    Which base currencies can I use for the PAMM service?

    USD, EUR, SGD

    What are the commissions per lot?

    USD 10 per lot

    What do I need to do to become a Master?

    You will need to open a live account with FXPRIMUS.com and create an MT4 investment ID. Then visit PAMM.FXPRIMUS.com to open up your PAMM account! To create a Master's account and be able to accept Followers, you will need to deposit: USD 1,000

    What do I need to do to become a Follower?

    You will need to open a live account with FXPRIMUS.com and create an MT4 investment ID. Then visit PAMM.FXPRIMUS.com to open up your PAMM account and to start investing!

    Can I invest in PAMM with an Islamic / Swap-free account?

    Yes

    What is the Margin call & Stop out?

    Margin call is at a margin level of less than 50% and the Stop Out is at a Margin Level of less than 30%.

    What are the benefits for followers?

    A Follower (not a Master) has an exclusive right to assign and revoke funds at any time, so the scenario when a dishonest Master runs away with the money or fails to pay the profit is completely impossible. The Follower is able to propose Offers with their own parameters.

    All the settlement operations (the distribution of profits, losses and the Master’s fees) are automatically carried out by the PAMM Service.

    The PAMM Service makes the process of choosing competent and reliable Masters easier for Followers, by providing a complete set of assessment tools, public monitoring and performance ratings of PAMM Accounts. The information is presented in an easy-to-understand manner, so both sophisticated and novice Followers will find it easy to choose the best Master for them.

    What are the benefits for masters?

    The PAMM Service allows the Master to set up multiple Offers with different parameters for Followers with varied funds and risk profiles.

    The PAMM Service keeps each Follower Account record individually, and the gains and losses are automatically distributed by the system between the Master and the Followers based on the proportion of assigned funds, so that each party receives its part of return. It also guarantees that the share of profit and fees will be paid to the Master strictly on time and according to the Offer conditions, on which the Master and the Followers agreed. This allows the Master to concentrate on trading.

    Potential Followers will make their choices based on the performance charts displaying the Masters’ past trading results.

    Can I transfer to another Master?

    Yes, clients can change Masters if they wish. In order to do so, they will need to leave the first Master so that they can invest with the new Master.

    Do you offer the ability to manage multiple accounts at the same time?

    Yes, for Money Managers we offer a robust MAM system for managing an unlimited amount of accounts. Learn more about our MAM Accounts by contacting support@FXPRIMUS.com This present offer and service is of Primus Markets Intl Ltd (Vanuatu)

    How do I surrender from a Managed Account?

    If you are interested in revoking the POA, you must email your Money Manager notifying them of the POA revocation. This allows the money manager to:

    • Close all open or pending positions in the account.
    • Request any back profit sharing or performance fees

    Please copy support@FXPRIMUS.com in this email. If after 1 full business day there is no response from your Money Manager (i.e. you emailed your MM on Wednesday and you do not hear from them by Friday), you must contact support@FXPRIMUS.com and we will assist in revoking the POA agreement.

    When do I receive my commission payment for managed accounts?

    We pay all commissions no later than the 15th of the following month.

    Yes. First make sure that you close all your open positions. Then email us at support@FXPRIMUS.com. Please make sure that you include your username and account number. We will be happy to change the leverage in your account within one business day.

    What is the minimum trade size?

    The minimum trade size is 0.01 lot.

    What is Leverage?

    Leverage is the use of various financial instruments or borrowed capital, such as Margin, to increase the potential return of an investment. Prior to exploring Leverage and how it used in trading with FXPRIMUS, please carefully read the following Risk Warning on Leverage:

    LEVERAGE AMPLIFIES POTENTIAL LOSSES OR GAINS. WITHOUT PROPER USE OF RISK MANAGEMENT, THE HIGH DEGREE OF LEVERAGE MAY LEAD TO LARGE LOSSES. FXPRIMUS offers variable levels of Leverage depending upon account type and account balance. The amount of Leverage offered is as low as 1:1 and as high as 500:1. The following table is used in defining the different levels of Margin available with FXPRIMUS:

    50:1 = 2%
    100:1 = 1%
    200:1 = 0.5%
    300:1 = 0.33%
    400:1 = 0.25%
    500:1 = 0.2%

    As noted above, the Leverage available will differ depending upon account type and account balance.

    Can I change the Leverage in my account?

    Yes. First make sure that you close all your positions. Then email us at support@FXPRIMUS.com. Make sure that you include your username and account number in your request. We will be happy to change the Leverage in your account within one business day.

    Does Leverage affect pip value?

    The pip value does not change based on the Leverage. It's all based on the contract size.

    Can I change the Spread in my account?

    Yes. First make sure that you close all your positions. Then email us at support@FXPRIMUS.com. Make sure that you include your username and account number. We will be happy to change the spread on your account within one business day.

    Do you charge added commissions for Spreads?

    We do not charge commissions on our Variable Spreads. There is a 1 pip per standard lot commission charge for our ECN Premiere Spread type.

    What is the difference between commission and Swap?

    Commission is what Money Managers charge on a per trade basis. Swap is the amount that is credited or debited to an account due to a positions held overnight.

    Where do I find current Swap rates?

    To check for Swap rates open your MT4 platform. Then right click on the currencies in the market watch panel. Then click on Symbols. Then click the currency pair in question. Then click on Properties. Here you will see the Swap short and long rate.

    Can I request a Swap-Free account?

    Swap-Free (Syariah/Sharia compliant) accounts may be offered to our clients of Islamic faith. If you are already a client of FXPRIMUS and fall under this category, simply email in the request stating your User ID to support@FXPRIMUS.com. All requests will be reviewed by management and responded to within 1 business day. If you are a new to FXPRIMUS, register for a Swap-Free Account at www.FXPRIMUS.com/Swap-Free

    What kind of Spreads do you offer?

    FXPRIMUS is pleased to offer a choice of 2 different Spread options: Variable and ECN Premier Spreads.

    We'll ask for your selection when you register for your FREE Practice Account or sign up for your Live Trading Account. Should you change your mind after registering, you can always switch to a different Spread selection in your members area.

    Learn more about our Spread options.

    What is a Variable Spread?

    A Variable Spread is not constant in value. It will expand and contract based on market conditions and changes in liquidity. Normally, as the market becomes volatile a variable Spread becomes wider as liquidity reduces and banks are less willing to grant executions at certain prices.

    Since FXPRIMUS is a 100% Straight Through Processing brokerage firm, you are able to execute directly on bank feeds. If a price is available, your trade will execute at that price with no middleman or third party intervention whatsoever.

    View our live Variable Spreads or compare all 3 Spreads.

    To open a Live Variable Spread Account, you need a minimum deposit of only USD100.

    What is an ECN Premier Spread?

    Our ECN Premier Spreads are the ultimate choice for traders of all types. These are our absolute tightest spreads available and rival many institutional level price feeds offered to traders with multi-million dollar accounts:

    • Third or fifth decimal point, sub-pip Spreads are available (depending on the currency pair).
    • This means you save money on every transaction.
    • No more paying for wider Spreads when executing trades.
    • Enjoy a revolutionary trading experience.
    • Absolutely NO REQUOTES at any time*.

    This is essential for customers that need to get in and out of trades quickly and don't mind sacrificing a small fraction of a pip to do so in a fast moving market. To enjoy the benefit of such tight Spreads, we charge a commission of only USD 10 per standard lot round trip (USD 1 for mini lots and USD 0.10 for micro lots).

    If you trade more than 250 standard lot round trips per month (or equivalent), our commission drops to only USD 8 per standard lot round trip so we credit you back USD 2 per lot traded!

    View our live ECN Premier Spreads

    To open a Live ECN Premier Account,

    A minimum deposit of only USD 100 is required.

    Do you impose any charges for any executed trade?

    Only our ECN Premiere Spread has a commission charged. There is a 1 pip per standard lot charge for our ECN Premiere Spread type. Also, if your account is managed, you can agree to further commissions charged by your Money Manager by signing and providing our support team with a Power of Attorney form.

    There are no commissions charged for Variable Spread type accounts.

    Are scalpers allowed?

    Yes, scalpers are allowed, however we suggest using an ECN account to do so.

    What are the market cut-off hours?

    The market opens at 5pm EST Sunday night and closes 5pm EST Friday night.

    Do you run a dealing desk?

    No. FXPRIMUS is a 100% (STP) Straight Through Processing brokerage firm with no dealer intervention whatsoever.

    What constitutes Micro, Mini and Standard lots?

    Standard Lot (1.0): 1 standard lot equals 100,000 units.

    Mini Lot (.10): 1 mini lot equals 10,000 units.

    Micro Lot (.01): 1 micro lot equals 1,000 units.

    At FXPRIMUS, you can trade Micro, Mini and Standard lots all under a single account. Open a Live Account or register for a FREE Practice Account today.

    Is hedging allowed?

    Yes, hedging is allowed.

    How can I hedge my trade?

    You can hedge your trade by simply trading to the other side. For example, if you're long 1 EUR/USD, you would also simply go short 1 EUR/USD.

    What is maximum deviation?

    Maximum deviation is the amount of slippage you are willing to accept. For example, if the market is at 1.5000 and you put in an order to buy, if your standard deviation is set to 2, you will be willing to accept any price from 1.5000 to 1.5002. This increases your chance of getting filled at the prices you want. We recommend a standard deviation between 0-2.

    Is there a guarantee for a stop level?

    Since we are an STP/ECN broker we will fill your orders whether a normal order or  stop loss order at market rate. As such we cannot guarantee stop losses. In normal market conditions you should expect your order to be filled at the best price possible, which in volatile markets you might experience slippage on stop losses.

    Do you have a minimum Margin percentage before you close a position due to a Margin Call?

    Auto liquidation is 30%. We usually, but not always, close the position with the highest Margin requirement first.

    What is a Market Order?

    A market order is a commitment to the brokerage company to buy or sell a security at the current price. Execution of this order results in opening of a trade position. Securities are bought at ASK price and sold at BID price. 

    For example, if EUR/USD is priced at [BID]1.3000/1.3003[ASK]. It means, in order to buy 1 unit of EUR, you need to pay USD 1.3003. The USD 1.3003 is also known as the ask price. It's the price that the dealer is willing to sell. Conversely, if you would like to sell EUR against USD, you would sell at USD 1.3000. It's also known as the bid price, meaning it is the price that the dealer is willing to buy from you. 

    As you see in the example above, there's a difference between the Bid and Ask price. This difference is known as the Spread and varies depending on the currency pair being quoted. FXPRIMUS does not charge a commission on our variable spreads, as we are compensated on a percentage of the bid and ask Spreads. In this case, if you enter a buy EUR position, you are instantly down 3 pips. Therefore, you must wait for the price to come up to [BID] 1.3003/1.3006 [ASK] in order to break even.

    Stop Loss and Take Profit orders (described below) can be attached to a market order. Execution mode of market orders depends on the security traded.

    What is a Stop Loss order?

    A Stop Loss order is used for minimising losses if the security price has started to move in an unprofitable direction. If the security price reaches this level, the position will be closed automatically. Such orders are always connected to an open position or a pending order. The brokerage company can place them only together with a market or a pending order. The client’s terminal checks long positions with BID price to meet this order provision, and the terminal uses ASK price for short positions.

    For example, EUR/USD is trading at 1.3000/1.3003. You enter a market order to buy the Euro at 1.3000. To assist in risk management, you can preset a close price (Stop Loss order) where your position is automatically closed at that price. If you set your Stop Loss at 1.1950, when the EUR/USD price reaches 1.2950/1.2953, you are taken out of the market with a loss of 53 pips. 1.3003 [entry price] -1.2950 [close price] = 0.0053. Please note: a Stop Loss price is not guaranteed, as no orders are. During volatile market times, your stop order may not be able to be honoured at the exact price desired, and you will receive the next best executable price.

    To automate a Stop Loss order so that it follows the price, you can use a Trailing Stop (see below).

    What is a Trailing Stop?

    As noted above, a Stop Loss is intended to minimise losses when the security price moves in an unprofitable direction. Conversely, if the position becomes profitable, a Stop Loss can be manually shifted to a break-even level. To automate this process, the Trailing Stop was created. This tool is especially useful when the price changes strongly in the same direction or when it is impossible to watch the market continuously.

    A Trailing Stop is always attached to an open position and works in the client’s terminal, and not on the server like a Stop Loss. As soon as profit in points becomes equal to or greater than the specified level, the Trailing Stop automatically gives a command to place a Stop Loss order. The order level is set at the specified distance from the current price. Further, if the price changes in a more profitable direction, the Trailing Stop will make the Stop Loss level follow the price automatically. However, if the profitability of the position falls, the order will not be modified any more. Thus, the profit of the trade position is fixed automatically.

    How can I put Trailing Stops in my trades?

    Trailing Stops work similarly to how Expert Advisors (EA) operate in that these features work locally on your MT4 platform on your PC. We do not have support capabilities to run these features on our servers because these tools are not attached to our server.

    A Trailing Stop is a feature that allows a trader to minimise their risk and protect their profit. This feature is very useful when you want to modify your Stop Loss order in a rapid manner. However, please bear in mind that you must closely monitor your Trailing Stops because if for any reason your MT4 terminal loses its connection (i.e., update, Internet connectivity), the Trailing Stop feature will be disabled because it is not attached to our servers. Therefore we cannot assume responsibility for Trailing Stops that fail due to connectivity or platform issues.

    What is a Limit order (Take Profit)?

    A Take Profit order is intended for realising a profit when the security price has reached a preset level. Execution of this order results in closing of the position. It is always connected to an open position or a pending order. The order can be requested only together with a market order or a pending order.

    For example, EUR/USD is trading at 1.3000/1.3003. You enter a market order to buy EUR at 1.3000. To assist in risk management, you can preset a limit order (Take Profit) where your position is automatically closed at that price. If you set your limit at 1.3050, when EUR/USD price reaches 1.3050/1.3053, you are taken out of the market with a profit of 50 pips. 1.3050 [close price] -1.3000 [entry price] = 0.0050.

    What is a pending order?

    A pending order is the client's commitment to the brokerage company to buy or sell a security at a pre-defined price in the future. These type of orders are used for opening of a trade position provided the future quotes reach the pre-defined level. There are four types of pending orders available:

    • Buy Limit - buy provided the future ‘ASK’ price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation that the security price, having fallen to a certain level, will increase;
    • Buy Stop - buy provided the future ‘ASK’ price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of the security price, having reached a certain level, will keep on increasing;
    • Sell Limit - sell provided the future ‘BID’ price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation that the security price, having increased to a certain level, will fall;
    • Sell Stop - sell provided the future ‘BID’ price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation that the security price, having reached a certain level, will keep on falling.
    What is your Margin Call Policy?

    FXPRIMUS has instituted a Margin Call Policy to protect the customer from losing more money than they may have available in their account, whilst also protecting the interest of our company. Margin Calls are executed when an account has less equity available than required to maintain the customer's open positions. Margin Calls are activated in real-time on an automatic basis, and occur when an account's equity (liquidation value) reaches a level that is equivalent to 30% of used (open) Margin. This 30% is known as the maintenance level. Using our company’s MT4 trading platform, positions are closed prior to the market having a chance to move further against a customer's open trades.

    For example, let’s assume you open an account with USD 1,000 and open five 10,000 unit lots (50,000 units) of USD/CHF using 100:1 (1%) Leverage. As a result, 1% of 50,000 or USD 500 will be set aside as used Margin, and you will have USD 500 remaining as usable Margin. If the direction of the USD/CHF moves opposite your position, and your equity (liquidation value) reaches USD 150 from the original USD 1,000 deposit, this would breach the 30% maintenance level. As a result, the position will be automatically closed in order to protect you from losing any more of your remaining balance, and possibly falling into negative territory.

    The MetaTrader4 platform uses the following formula in calculating an account's Margin Level: (Account Equity / Used Margin) x 100 = Margin Level %

    In addition, two other safeguards are in place to protect both the customer and our Company alike. Once an account's Margin Level falls to or below 100%, the customer will only be able to enter orders to hedge their current position(s). Please note that the customer will be unable to hedge any open positions if their available Free Margin is negative. Furthermore, once an account's Margin Level falls to or below 50%, the customer will not be able to enter any new positions. Instead, the customer will only be able to exit current position(s).

    Our MetaTrader4 system may close any or all open positions in your account in the event that the account falls below the minimum required equity. Generally, when there are two or more open positions we reserve the right to close the position(s) first with the highest floating loss on a highly volatile market when the equity reaches 30% of used or open Margin. In general, the largest positions are closed prior to the smaller positions. However, the MetaTrader4 system may close only the positions that carry the most risk. Even though the MetaTrader4 trading platform keeps track of used and free Margin, it is always the customer's responsibility to keep track of their account balance(s) at all times.

    How can I protect myself from triggering a Margin Call?

    Our MT4 platform is designed to trigger Margin Call if your Margin Level falls to or below 30%. To prevent Margin Call you can fully hedge all positions in your account. Note that equity is affected by open positions whether hedged or not. Hedged positions can increase or decrease equity due to overnight swap charges and/or the widening of Spreads due to market conditions.

    Therefore, if you are long (buy order) 1.5 lots on the EUR/USD, to fully hedge this positions you would need to get short (sell order) 1.5 lots on the EUR/USD.

    Note in the above example, if you were to get short (sell order) 1.4 or 1.6 lots, you would not be fully hedged, but instead would be partially hedged.

    Can I trade CFDs?

    Yes, you can trade oils (gasoline, oil, heating oil, natural gas), commodities (wheat, corn, soybeans, sugar, coffee) and major indexes (S&P 500, Nasdaq, Dow Jones). All available CFDs can be found here.

    What is the MetaTrader 4 Trading Platform?

    The Metatrader4 trading platform provides technical analysis, charting and Expert Advisors to help clients develop their own trading strategies. The MetaTrader4 terminal is a perfectly equipped traders workplace that allows clients to trade in the financial markets (Forex, CFDs and Futures). It provides the necessary tools and resources to analyse price dynamics of financial instruments, make trade transactions as well as create and use automated trading programs (Expert Advisors). It is a convenient, all-in-one solution and is by far the most popular trading terminal platform in the world.

    How can I download the MT4 Trading Platform?

    After you register with us, we'll provide you a link where you can download your MT4. You can also download the platform from the Download section of your FXPRIMUS Member Area.

    I cannot see any currency pairs in MT4.

    Please remember to right click any pair on the Market Watch panel and select ‘Show All’ to make sure you have access to all the currency pairs we offer.

    I have logged in to the MT4 platform. The chart says ‘Waiting for Update’. What should I do?

    To resolve this condition change your profile in MT4. You can do this by going to your MT4 Platform and choosing File > Profiles > and if it's set to Default, change to ‘fxpforex’. Or simply drag and drop the currency pair you wish to trade from the Market Watch panel over to the appropriate empty graph.

    What is the time zone for the MT4 charts?

    The time zone for MT4 Trading Platform is set to GMT+3 from March to November and GMT+2 from November to March.

    Can I install the MT4 Trading Platform in my mobile device?

    Mobile trading allows you to manage your accounts from portable devices like a cell phone, smartphone, and Pocket PC (PDA). In MetaTrader4, mobile trading offers analytical options in addition to complete trade account management. Mobile terminals offer a convenient way to keep up with your accounts when you don't have access to a desktop computer.

    As of now, The MT4 Trading Platform is available for use with Pocket PCs (PDAs) running Windows Mobile OS and Windows Mobile 2003 for Smartphones or higher. To download the MT4 Trading Platform for mobile, please visit the Download section in your Member Area or click here

    How do I access the FXPRIMUS WebTrader?

    The FXPRIMUS WebTrader lets you access your MT4 account via the Internet without having to install the MT4 platform. Any browser that supports Flash can run the WebTrader on any PC, Mac or Linux computer. WebTrader is not currently available to clients with managed accounts or Money Managers who use our MAM software.

    Click here to access the Webtrader.

    Where can I download a User Guide for the FXPRIMUS Web Trader?
    How can I download the FXPRIMUS trading application for iPhone and iPad?

    The FXPRIMUS iPhone/iPad app lets you place trades using your MT4 ID and password, and perform the following actions: Enter live trades and pending orders, view past order history, modify trades, monitor live orders, set Stop Loss and Take Profit, view charts.

    This app is not currently available to clients with managed accounts or Money Managers who use our MAM software.

    Click here to download from the Apple App Store.

    What am I getting an ‘Invalid Account’ message when I try to login to my trading account in the MT4 platform?

    An ‘Invalid Account’ message usually indicates that you have logged in with incorrect MT4 credentials.  Please make sure that you have entered the correct MT4 ID, password and have selected the correct server.

    If you are unable to login to your MT4 platform, please email support@FXPRIMUS.com from your registered email address and ask a representative to reset your MT4 password.

    Why do I see duplicate trading symbols in my Market Watch panel?

    Due to the implementation of some of our newest CFD’s, you will notice some ‘duplicate’ greyed out symbols in your market watch window. These symbols do not affect your trading account in any way and can be disregarded. Due to the limitations of the MT4 Trading Platform we are unable to hide these symbols from your account. These symbols are needed for the calculation of accounts in deposit currencies other than USD. Unfortunately, we are unable to hide these symbols from your account but you may do so locally in your MT4 terminal. To hide the greyed out symbols, right-click on the greyed out symbol and select hide.

    Who is FXPRIMUS payment provider?

    eMERCHANTPAY and Safecharge

    What are the processing fees for eMerchant pay?

    FXPRIMUS will cover all fees and charges for each client transaction. FXPRIMUS will cover the standard additional fee of 3.25%, so this will not be charged to the client.

    What is the processing time for eMerchant pay / Safecharge?

    All withdrawals are handled within 24-48 hours. Refunds will be received back to the bank account or the card used to make the deposit with. The refund may take 4-8 working days. If you have not received your refund after this period, you should contact the withdrawal team withdrawal@FXPRIMUS.com.

    Is there a transaction limit for eMerchant pay and Safecharge?

    There is a limit of USD 7,500 per transaction, and up to 3 transactions can take place per day.

    What are the different options to withdraw funds from my account?

    We offer numerous withdrawal methods which include: Debit/credit card, International bank wire transfer, Neteller, Skrill, BitCoin. PayPaid, CUP, Fasapay and the FXPRIMUS Prepaid Mastercard®.

    How long does it take for account funding and withdrawal?

    Please refer to the table below:

    Payment Methods 

    Deposit Time 

    Withdrawal Time *** 

    Deposit Fees 

    Withdrawal Fees 

    2 - 5 business days

    2 - 5 business days

    *None

    *None

    1 - 2 business days

    2 - 5 business days

    None (on deposits > USD 10,000)
    2.5% (on deposits < USD 10,000)

    None

    1 - 2 business days

    2 - 5 business days

    None (on deposits > USD 10,000)
    2.5% (on deposits < USD 10,000)

    None

    1 business day or less

    4-8 business days

    *None

    None

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    1 business day or less

    1 business day or less

    *None

    *None

    1 business day or less

    1 business day or less

    *None

    None

    1 business day or less

    1 business day or less

    *None

    None

    1 business day or less

    2-5 business days

    *None

    None

    1 business day or less

    1 business day or less

    *None

    **None

    1 business day or less

    1 business day or less

    None

    None

    Instant

    1 business day or less.

    *None

    *None

    Instant

    1 business day or less.

    *None

    *None

    Instant

    1 business day or less.

    *None

    *None

    24 - 48 hours

    1 business day or less

    None

    None

    24 - 48 hours

    1 business day or less

    None

    None

    Are there any charges on withdrawals?

    All withdrawal fees are covered with the exception of China Union Pay who charge a withdrawal fee of 1.5%. The fee is based on a 30 days cumulative deposit amount or the withdrawal amount (the lower fee will be selected).

    I want to cash out my account. What do I do?

    Please fill out a withdrawal request in your Members Area.

    • If you want to withdraw all the funds in your account, the first step will be to stop Trading. If someone else manages your account, please send a request to your money manager to stop Trading your account on your behalf.
    • If you want to make a partial withdrawal of your funds, you can continue to Trade as long as you have enough equity left in your account after we process the withdrawal.
    Are there any limits on account withdrawals?

    There is a minimum of USD 100 or currency equivalent for withdrawals with Wire transfer and YuuPayOut. An exception is made for clients cashing out of an account. You may withdraw as much as you need whenever you need it. For further assistance on withdrawals please contact our dedicated team for assistance withdrawal@FXPRIMUS.com.

    Why can I not withdraw profits from the method I used to fund my account with?

    All FXPRIMUS withdrawal/refunds will be processed back to the source of the original deposit. This is our company Money In, Money out Policy. Any excess money, which is a result of profits, may be withdrawn by bank wire for all clients. Some clients may also have other eWallets available for withdrawal of profits, at the discretion of the Company.

    We allow Clients to withdraw up to the amount they deposited, back to the source of the funds, from any source. Any excess money, which is a result of profits, may be withdrawn by bank wire for all Clients.

    Can I fund my account using one funding method, and withdraw using another?

    You can after the original method used has been refunded back to the amount of original deposit. The current policy is that all clients must withdraw with the same method used to fund the account.

    Does the money-in, money-out policy apply to partnering IBs and Affiliates?

    IBs and Affiliates have the ability to withdraw funds without restriction as they do not deposit funds.  Therefore, the money in money out policy does not apply to IBs or Affiliates.

    Who can I email for help with my withdrawals?

    Clients can email withdrawal@FXPRIMUS.com and our dedicated team will respond as soon as possible.

    What exactly is Bitcoin?

    Bitcoin is cash for the internet. With just a phone and an internet connection, clients can use Bitcoin to fund their FXPRIMUS live trading accounts instantly from anywhere in the world

    How secure is Bitcoin?

    Funds are only transferred when the rightful owner of the funds initiates a transaction. This process is part of what makes Bitcoin payments uniquely secure: they can’t be forged or made without your permission.

    Is funding by Bitcoin at risk of fraud or identity theft?

    No, Bitcoin transactions don’t put any of your personal or financial information at risk.

    How does the payment process work with Bitcoin?

    No, Bitcoin transactions don’t put any of your personal or financial information at risk.

    • Once a client selects funding by Bitcoin, a Bitpay invoice is automatically generated.
    • A QR code will be displayed on the screen – this is an extra safety measure. The client should scan this code with the smartphone wallet app.
    • Press send and then the payment is sent to the Bitcoin network. Bitpay will process the Bitcoin and provide the merchant with a bank deposit in the local currency at the current exchange rate.
    What is the minimum and maximum deposit, if I want to use Bitcoin as a funding method?

    The minimum deposit is USD 100, and there is no maximum deposit!

    Can I trade Bitcoin with FXPRIMUS?

    No. Bitcoin is not available as a tradable instrument with FXPRIMUS, but you can use Bitcoin to fund your account via Bitpay, and withdraw back to Bitcoin.

    How long will it take to process my funding request with Bitpay?

    Transactions will be credited within 1-2 hours after receiving confirmation from Bitpay.  Deposits will be automated for amounts below USD 5,000, and for any amounts above USD 5,000 our funding department will review and process these deposits within one business day.

    Which Bitcoin wallets can I use to fund my account?

    FXPRIMUS can only accept Bitcoin transactions from the following wallets, Copay and Breadwallet and Mycellium.

    Can I fund my account using Bitpay, wherever I am in the world?

    Bitpay is available as a funding method in all countries. Please see our terms of trading for which countries we operate in.

    Can I fund my account with Bitpay, and withdraw my profits using another method?

    If a client deposits via Bitpay they can only withdraw via Bitpay, up to the amount deposited. However, any excess profits may be withdrawn by bankwire.

    What’s the minimum deposit to open an account?

    All of our accounts have the same minimum funding requirement of USD 100 or currency equivalent.

    What are the charges for funding my account?

    Credit/debit card: FXPRIMUS will cover credit card fees. Please note that client will still be responsible for any applicable conversion fees.

    Bank Wire transfer: We do not charge you for wire transfers. However, bear in mind that your local bank may charge a fee for wire transfers. Make sure that you check with your bank before making your transaction.

    Local bank deposits may apply: FXPRIMUS does not charge you for local bank transfers.  However, YuuCollect will charge a 2.5% fee on all deposits less than USD 10,000. For all deposits greater than USD 10,000 there will not be any fee charged.  In addition please bear in mind that your local bank may charge a fee for the fund transfer. Make sure that you check with your bank before making your transaction.

    Are there any charges to transfer funds from one of my accounts to another?

    There are no charges to transfer funds between your accounts.

    Can I fund my Affiliate or IB account?

    IB/Affiliates can deposit and withdraw, if they are opted into the LTP service for their network. If not, they may only use the account to withdraw commissions.

    How can I access my account funding history?
    • Log into your MT4 account.
    • Go to the View menu and select: ‘Terminal’.
    • Select the ‘Account History’ tab in the bottom left hand-side corner.
    • Right click anywhere inside the tab and select ‘All History’

    Note: The funding history only shows credit/debit card funding at this time. It does not show wire transfer transactions.

    My funding status says ‘Pending’. What does this mean?

    If it is a real-time transfer, Pending means that the transaction did not go through. You will need to make another attempt.

    If it is a credit card transaction, Pending transactions may take up to 24 hours to be confirmed.

    I was processing a credit card transaction, once I entered my card information the screen said ‘Please wait while we process your payment’ and it remained like that for a very long time. What should I do?

    Some browsers tend to freeze on this screen. You may exit out of the screen. Your transaction may show as pending for up to 24 hours. Please do not make another attempt until the previous transactions shows as confirmed or declined.

    Credit Card Deposits

    Please note that FXPRIMUS' payment processors, ‘Allied Wallet’ cannot accept PREPAID debit/credit cards.

    Where can I use my card?

    You can use your card worldwide, wherever MasterCard® is accepted, including ATMs for cash withdrawal and in-store or online purchases.

    How do I get my card?

    Simply click on the FXPRIMUS Prepaid MasterCard banner in the Members Area Dashboard and follow the instructions to get your virtual card. Your virtual card can be set-up instantly once you deposit the minimum of USD 50 (or currency equivalent), and then clients can apply for their physical card thereafter.

    What currency can I set up my PrePaid MasterCard account in?

    The FXPRIMUS PrePaid MasterCard account uses the base currencies of USD and EUR. If you would like to fund your card using a different currency, the conversion will be processed using the bank rate at the time of processing.

    Am I charged interest on my FXPRIMUS Prepaid MasterCard?

    No. This is a Prepaid debit card, not a credit card, so there is no accumulated debt or interest charged.

    Will I have access to Online banking?

    Yes. You can track your spending through a customised online banking tool where you'll be able to view your transaction history, check your card balance, manage your card account and more.

    What are the country restrictions for the FXPRIMUS PrePaid MasterCard?

    Restricted issuing countries are: OFAC, Cuba, Iran, North Korea, Sudan, Syria, Afghanistan, Albania, Algeria, Central African Republic, Democratic Republic of the Congo, Ivory Coast, Ecuador, Guyana, Indonesia, Iraq, Laos, Panama, Papua New Guinea, Uganda Yemen, Zimbabwe, Nigeria, India.

    What can I do via my card portal?
    • Upgrade card limits
    • View transaction history
    • Manage personal profile
    • Check your balance and your account information
    • Request a plastic card to be emailed to your address
    • Transfers and more
    What are the fees for applying for the card?

    FXPRIMUS covers fees related to FXPRIMUS PrePaid MasterCard except for the setup fee of USD 2.85 which is deducted from the initial deposit. There will be a courier fee of up to USD 60.00 to courier the plastic card. The card is delivered by courier and not by normal post for safety reasons.


    Other fees which may apply:

    Transaction Type Currency Fee
    Account Opening USD 02.85
    Purchase Fee (in-store/online) USD 00.35
    CreditRefund USD 00.35
    PIN Retrieval USD 02.00
    Cash Withdrawal USD 03.45
    Cash Withdrawal Domestic USD 03.45
    Cash Withdrawal Decline USD 00.55
    Account Monthly USD 02.95
    Foreign Exchange USD 02.75%
    ATM Balance Inquiry USD 01.00
    What are the limits on my card?

    Stage 1: Basic Card Limit/year* (NO ATM ACCESS)

    EURO USD GBP
    € 2,500 $ 2,500 £ 2,000

    *The total amount per year that can be deposited onto the card, by the cardholder and/or the participating merchant. No ATM access at this stage.


    Stage 2: Upgrade Card Limit/year (ATM ACCESS) **

    EURO USD GBP
    € 80,000 $ 80,000 £ 80,000

    **The total amount per year that can be deposited onto the card, by the cardholder and/or the participating merchant. ATM access and card2card transfers are allowed at this stage.

    Who can help me with my card?

    You can log into https://icwd.cardportal.com 24/7 to manage your account. In the event you would like to talk to somebody about your account, we are always happy to help. You can visit our online help centre at icwd.cardportal.com/FAQ or email us on help.paycard@cardportal.com

    What is the shipping method for the card? How many days does it take to ship?

    Cards are sent by courier and can take up to 15 business days

    How much can I withdraw from my FXP Trading account to my FXP Mastercard?

    The withdrawal amounts are as follows:

    Stage 1: Basic Card Limit/per day USD 500 EUR 500 GBP 500

    Stage 2: Basic Card Limit/per day USD 5,000 EUR 5,000 GBP 5,000

    What are the daily spending limits?

    For Stage 1 the limits are as follows:

    ATM 150.00 USD daily, in up to 5 separate withdraws

    POS 1,000 USD daily in up to 10 separate transactions


    For Stage 2 the limits are as follows:

    ATM 750.00 USD daily, in up to 5 separate withdraws

    POS 20,000 USD daily, in up to 10 separate transactions

    How can FXPRIMUS help me to acquire more clients through my own website?

    Access the latest engaging banners and online artwork in a range of sizes that you can apply onto your website. Your IB referral code will ensure that you receive the commissions from anybody who joins FXPRIMUS by clicking on those banners.

    I don’t have a strong website – how can I still get online referrals?

    Ask your relationship manager to set you up with your own personal, fully branded IB microsite. You decide what the website will show, and we will provide you with your own unique URL, embedded with your IB code. This is a good way to funnel online traffic through to FXPRIMUS, while maximizing any potential commissions.

    I would like to send my client database some emails but I don’t have the resources. Can you help?

    Yes. Your relationship manager can liaise on your behalf with FXPRIMUS to send an email to your client database. We will work with you to perfect any content and artwork that you would like to appear on this email, and we can send it to your network with your IB code embedded. Note that we can only send emails to your database and not to the client database of any other IBs. This is in order to protect you.

    Can I use the FXPRIMUS marketing team as an extension of my own business?

    Yes. If you would like some tailor-made, unique artwork to help convert clients, we can help you. Speak to your relationship manager about your requirements and we can help you.

    What is IB Concierge and are my lead databases safe?

    IB Concierge is a mass lead conversion tool available to all of our partners. In simple terms, our IBs can upload their lead databases using this tool, and our client acquisition team will contact the leads on your list to register them with FXPRIMUS. It is an easy, efficient way for very busy IBs with many leads to get commissions. At FXPRIMUS, we pride ourselves on the extra measures that we take to ensure that all client and IB data is secure. You can rest assured that your databases are safe with us, and that every lead who converts to a funded live account, will link with your IB commissions.

    Can I become a Guest Expert on the FXPRIMUS Education Pages?

    If you are producing educational content for your clients on a regular basis, you can apply to become a Guest Expert on our educational pages. We will create a unique page just for you, including your photograph and biography, and we will ensure that your educational content is uploaded her. It is an efficient and dynamic platform from which your clients can access your content, and you can even use these pages as a client acquisition tool. Any new client who signs up to FXPRIMUS through your Guest Expert Page, will be linked with your IB referral, helping to increase your commissions.

    What educational resources can I upload on my Guest Expert Page?

    We can include any educational resources that come in the format of videos, photographs and text content. So if you are recording webinars, or if you are writing market commentaries and producing graphs, we can include all of this information on your page. All information uploaded onto your page may be vetted by our compliance department in order to ensure that our clients have access to regulated, safe and ethical content.

    I want to hold some events for my clients and leads. Can you help me?

    FXPRIMUS supports its partners with any offline events that they are hosting, including charity events, dinners, seminars and more. Using our Seminar Pack (coming soon), our partners are provided access to attractive posters, roll up banners and other dynamic marketing resources to help bring their event to the next level. Ask your relationship manager for more information about our seminar pack.

    How can I get my IB Certificate?

    Our partners are awarded certificates according their level of cooperation with FXPRIMUS. This is a certified personalised document, officiating your partnership with the company that many of our IBs are proud to own. The certificate symbolizes your cooperation with a world-class, award winning and ethical broker. Speak to your relationship manager to see if you qualify and they will be happy to arrange your certificate for you.

    Regional Partner Certificate Conditions
      Bronze Silver Gold Platinum
    No of Active Clients 1-5 6-10 11-25 26+
    Gross Deposits $500 $150K $500K $1M+
    Length of Time with FXP 1 day 3 months 6 months 1 year
    How do I get my Business Cards?

    Please provide the full details of what needs to appear on your business card to your relationship manager, and FXPRIMUS will arrange to design the cards for you incorporating our exclusive FXPRIMUS Partners logo. Our partners are then kindly requested to print the cards locally according to the design guidelines provided.

    Can you sponsor my events?

    FXPRIMUS is pleased to provide support to its partners for any relevant events that they plan to host. Please provide a plan to your relationship manager giving full details of the event that you propose to host along with what level of support (financial or otherwise) you require from the company, and management will consider your request on a case by case basis.



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