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FX Primus: How to get your money back?

It is not a secret that cooperation with a reliable broker leads to successful trading on Forex. No matter how professional the traders are or how skillfully they conduct transactions, all their money is in full control of the broker. Moreover, trading is also carried out on the broker’s platform. If you are trading with a fraudulent broker, she/he can easily start manipulating orders or price quotes. There are cases when such brokers just disappear with clients' funds. Today we are going to have a closer look at FX Primus. The first question that arises whether it is a safe broker as it positions itself on its website?

FX Primus is a regulated broker with 10 years of experience in the financial industry. As it is stated on the website, the company does its best to provide comfortable and profitable trading. It also guarantees a high level of security owing to the implementation of the latest developments in this field.

Traders can trade more than 120 instruments, including currency pairs, commodities, indexes, and CFDs. There are several account types to choose from. A personal manager, negative balance protection, access to analytics, and video tutorials are available for traders. The broker also offers some bonuses.

It sounds quite promising, doesn’t it? It may even seem that this is the ideal broker with the lowest spreads, zero commission for deposits and withdrawals with quick input and output of money. However, all that glisters is not gold. As practice shows, the first impression can be misleading. First thing first, scrutinize all the information more carefully, analyze it, and then check. Do not forget to look at the blacklisted forex brokers. Curiously enough, FX Primus is on the list.

What can we conclude about this broker after having studied its operating history?

The company has got many attractive offers for traders. Nonetheless, in general, its trading conditions are average. The homepage is available in many languages: Russian, English, and Asian ones. However, the analysis made by independent services confirms the low rate of website attendance. Most of the users are from Qatar.

FX Primus is unknown among the Russian-speaking traders. Besides, its operating history lacks credibility. There is no official information about the location of the head office. This company is owned by Primus Markets INTL Ltd. The broker is registered in Vanuatu (VFSC). Another affiliated company is registered in Cyprus but there is no information about its functions. According to unofficial data, FX Primus has been operating since 2009. For five years it has been registered in Mauritius, while its support service worked from London.

Contacts of the support service have an International Networks organization code and are not tied to a specific country. Therefore, it is practically impossible to tell the exact location of the broker.

Deposit and withdrawal of funds

The minimum deposit amount is $100. You can use payment systems, as well as credit cards, and bank transfer. If you use bitpay, it will take 24 hours to deposit money in your account, in other cases only 5 minutes. If you want to withdraw your money, the conditions are the same.

The broker promises an almost instant procedure of deposit and withdrawal of the funds for credit cards and most payment systems. You will have to wait 2-5 days only when using a bank transfer. Is it really so?

Karanagaev 25.03.2019
I have worked with FXPRIMUS for six months. At first, everything was fine. One day I decided to withdraw money from my trading account. I made a request but I got no answer. They just ignored me. So, I did not receive my money back and stopped trading with this scam broker.

Dmitri 08.02.2019
Do not trust this broker an inch! After you replenish your account, you will be unable to withdraw your money. They just wait when your deposit will grow and then you can say goodbye to it.

Yuri 18.12.2018
I have been waiting for the withdrawal of my funds for 3 months. Everything I got was empty promises with no deadline.

The problem with the funds' withdrawal is not the only one that traders have been complaining about.

Slava 10.08.2019, 23:34
At the slightest slippage, the position is closed by a stop loss order. I did everything possible in order to prove it. Once I even recorded the video where it was shown that the price did not reach the stop, slippage occurred and the position was closed by the stop loss order. Imagine my surprise when nobody cared. My request was just neglected and I did not even mention how difficult it was to withdraw my money. I got passed verification and asked them to send some additional documents. Then, I made a request to show me a clause in the agreement where my rights were designated. They sent me 9 and 10 clauses where it was written in black and white that the broker has the right to block my account without any clarifications and all the money in my account belongs to the broker but not me. I decided not to fuel the conflict, sent them again the scans, and withdrew my fund. Later my account was blocked.

krivbassfan 06.01.2019
I did not like the way how their trading platform worked. I was unable to close the deal manually. Pending orders closed not at the price which had been set. So, you shroud not be a genius to understand that trading on such kind of platform will not bring you any profit.

Lenya 07.05.2019
They just drain your deposit on slippages, even to 300 points. When I was trying to get an explanation, they said that the Ask Line had moved to 300 points exactly to my allegedly stop loss order.

Conclusion

FX Primus claims to be the best in the financial industry. However, a large number of negative reviews makes this claim quite dubious. Nevertheless, on the Internet, there are some positive comments about the broker as well. The decision to label FX Primus as a fraudulent broker would probably be hasty. Perhaps the company will be able to clear its reputation, earn trust, and come out of the blacklist.

The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
Author: Andrew | Date 2020-05-26
I want to share my experience at FX Primus to spread awareness about the schemes that these Forex brokers are doing. I opened an account at this broker with a no-deposit bonus. I had $1000 startup bonus and this is what I used to trade. When I reached a hundred dollars of profit, my trading activities were suspended and the broker told me to deposit $100 to continue trading. I followed what they said. But then after depositing, the bonus was gone and the money I deposited was deducted. I only had $50 on my account. I asked the company why that is and they said it was a penalty. They did not really explain why I was charged with penalty but not long after that, my account was also suspended.
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Author: Jilaryut | Date 2020-05-21
I never had the chance to withdraw my fund from FX Primus because my balance has already dropped to zero. No, it was not because of my trading mistakes. Rather, it was because of the faulty trading platform of the broker. There is always a slippage. After the slippage my trades would automatically close even if I did not set anything. It was as if my platform was manipulated. I reported this issue many times but it was always ignored.
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Author: Rana | Date 2020-05-14
I started trading at FX Primus a few months ago. I deposit the minimum required amount since I also did not want to risk everything I have when I am still not sure if I could really handle Forex trading. My trading experience was decent. I was able to make my trades and earn from them. Basically, I was able to enjoy my experience and was leaning towards topping up my account. However, I wanted to see how the withdrawal system works so I asked for the withdrawal of my profit. To which, the company did not respond. I still haven't received my money until now.
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Author: Emese | Date 2020-05-08
With years of being in service, I thought that opening an account at FX Primus would be worth it. I never thought that they would turn out to be a fraud broker because it seems improbable to say in business for a long time when you are only deceiving your clients. I guess the owners of this broker really know they way through fraudulence. When I made my first withdrawal from my account, no one answered. I made a few more attempts but it was only ignored. Until now, I really got nothing.
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Author: Yiota | Date 2020-04-29
There is no way I could retrieve my money from FX Primus. I already made tons of complaints to organizations whom I thought could give a hand but no help arrived. I guess it really is just impossible. There are too many fraud brokers for us to chase them. Besides, these brokers have plotted this scheme ahead of time which leaves us to expecting that they also had a plan on how they could get away.
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Author: Bilal | Date 2020-04-22
I traded with FX Primus for a year. Honestly, the whole trading experience was not great. I really wanted to leave this broker already just a few months into trading but I couldn't because this broker made me wait for months and months in order to get my money. They kept delaying the withdrawal request until it reached a year and yet I still did not receive it. They only closed my account but they did not release my money.
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Author: Suresh | Date 2020-04-07
I don't think it is still possible to withdraw our money from FX Primus. I have already been waiting for them to process my withdrawal request for almost half a year already but they are still not doing anything about it. They have also started ignoring all of my messages. Even my own account manager has stopped responding to me. I have more than $400 on my account and I was simply requesting for a hundred dollars but they still can't do it. That is why I think that they are not going to release it at all anymore.
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Author: Beatriz | Date 2020-04-01
Let me share what I experienced at FX Primus. I can't really say that this broker took my money because I lost my capital through trading. It could be partly my fault but I am putting responsibility to FX Primus as well. I only lost most of my trades because their platform is terrible. Orders are not executed well and the platform would often crash. When I open it again, the trade would have been closed on a losing position already. It could be their implicit way of taking their clients' money so they won't be tagged as a fraud.
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Author: Indah | Date 2020-03-23
I recently closed my account at FX Primus because their trading cost in unreasonable. On top of that, their slippage is extreme. I have lost more than half of my account balance already solely because of the slippage. As of now I am still waiting to receive the remaining balance in my account. Closing my account was not easy as well. The broker was defiant on my request at first but I was insistent in closing my account. Now, I do hope that they really transfer my remaining balance.
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Author: Dale | Date 2020-03-20
Before I completely lost access to my trading account at FX Primus, I still had a lot of technical issues that I encountered. There have been sever glitches in my client portal showing different account balance. The trading platform would always crash and even the live chat would disconnect. I was demanding a withdrawal of my remaining balance and this is how it ended. I lost access to my account and got not even a single dime from my account.
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