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 | COURT |  | Cases |  | Open - 0 | Not Guilty - 0 | Guilty - 0 | |  | REVIEWS |  |
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FPA Review Moderation Team, USA
| Rating: | No Rating |
| Date of Post: | 2010-03-01 |
| Review: | We haven't tried a forex trading account with FxPrimus.com. If you've traded forex with this broker, please leave a review here. |
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V. K, Kuala Lumpur, Malaysia
| Rating: |   |
| Date of Post: | 2015-01-15 |
| Review: | Hi, I have been using FxPrimus for over half a year. My account is an ECN account. Though sometimes slippage may occur even though my account is ECN, the overall performance on chart and pricing is satisfactory. I have performed a withdrawal before (small amount) and the respond time is ok and I received payment within around a weeks' time. Response of support to me is highly satisfactory.
I would like to enquire regarding the most recent USD/CHF quote that occurred today as CHF removes 1.2 cap between EUR. As expected high volume of activity involving EUR and CHF pairs. Across many brokers/ bank quote of USD/CHF, I get ranges of quotes of the candle bottomed at the range of 0.7-0.98. However, the quote of FxPrimus for USD/CHF bottomed at 0.30758 (ECN). I have a small long position of USD/CHF which particularly caused margin call for my account due to over 6.6k pip loss. The position is closed at 0.36066.
My total loss is : 1) My capital
2) I am a swing trader, I have more than 40 accumulated profit floating positions which is more than double my current capital. All these positions are closed due to added equity not enough to offset the 6.6k pip loss. (Bear in mind at 0.3 for USD/CHF the pip value is greatly increased than when it was much higher)
3) My profiting positions would have continued to grow if not because of this incident, hence my future gain potential is lost.
I have sent email with screenshots to support and yet to get a reply. I would like to check if USD/CHF indeed did reach below that value or is it misquote or any error. As my positions would remain if the price did not reach that far below. I hope for a prompt reply to my issue from FxPrimus. |
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| Comment: | Added by FXPRIMUS Support on 2015-01-20 09:08 |
| | @ V.K Kuala Lumpur,
Thank you for your feedback. We would be more than happy to run an audit of your account to ensure that all orders were executed at appropriate prices during the SNB intervention. You stated that you have submitted an email to our support team -- did you send to support@fxprimus.com? All requests for audits submitted to our support team will be addressed by our customer support representatives within 1 business day (excluding weekends and public holidays). If you would like to, you may notify us in this forum of the ticket reference number and we can post the results of the audit into this forum (excluding any information such as your MT4 ID and Full Name).
Warm regards,
FXPRIMUS Support |
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Jan Novak, Bratislava, Slovakia
| Rating: | |
| Date of Post: | 2015-01-05 |
| Review: | Hi, I use FxPrimus since 2009. The company was 6 months old, when I opened my forex account. There were only four reasons, why I decided to trade with them.
1. Spreads on ECN - Before I had trading account with market maker with fixed spread e.g. GBP/JPY 7pips :-)
2. They showed their faces on webpage - no hidden people in company very positive sign of fair intentions!
3. Trust account - Simple the regulation in Mauritius was not enough for me - I wanted more security.
4. They have clearly declared, that they DO NOT ACCEPT arbitrage latency trading or snipping /on currenex they are mentioned such as liquidity abuser./ Many brokers have problem with snippers. Please understand it. The broker is not problem. The problem is that currencies have not central market place.
You can use your snipping method if you can on CME,Globex and trade your "snipper style" for example on e-mini futures.
The best BID and the best ASK are for traders. They are not for snippers who give not liquidity in pool. Snippers take away liquidity very agressively from best ask and from best bid - and therefore providers of ECN platforms such as Currenex, Lmax etc. constantly build in platform protection against snippers. When you do not believe please read the product list of Currenex platform or website of currenex's developer.
Every liquidity provider want to have the thighest spreads - because it is the sign of good liquidity . And the spread
is the difference between best bid and the best ask. Snippers have data connection from other data sources or data providers - who are specialized for the data services - the quickest delivery of reference prices for e.g. forex currency pairs. When you use Virtual Private Servers /not such as expensive think/ and with proper third party modules for MT platform, which can obtain data from data provider - you can "beat" your forex broker.
But what suffers is the broker's reputation in liquidity pool, because he allows liquidity abusing.
When snippers would so good people and they DO NOT TAKE the BEST BID or BEST ASK avalaible - rahter they add orders between spread and increase liquidity in pool - then everything should be perfect.
Forex is OTC product. At the same time for e.g. EURUSD exist many prices in many liquidity pool. When liquidity providers would accept snipping - for other participiants the spread would be larger, abnormal micro price movements on best bid and best ask level and abnormal slippage for traders who trade manualy.
Liquidity providers like very much brokers and their clients who bring more liquidity in pool /orders posted in spread/ - not only orders which are then taken back /flooding./
Understand forex and OTC model then understand ECN model and forex microstructure and then you will be better trader.
Friends do you remember REFCO broker. This broker was ruined by snippers. Because this company always
would give for traders prices which traders had seen on screen - and the result was crash!!!
So I do not want to have snippers, who are my "neighbours" at my fxbroker.
I have accounts with other brokers too, e.g. Oanda. I think Fxprimus is good company. I wish them many satisfied clients.
Sincerely Jan from Slovakia |
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K.M, , Malaysia
| Rating: | |
| Date of Post: | 2014-08-23 |
| Review: | "Fx Primus hunting stop loss"
This week I have experienced three trade stop out due to Primus price manipulation. With this saying, I have proof. I have compile price from various brokers such as ( FXpro, Oanda, Hotforex and even Myfx chart). For instance, the latest price manipulation on this Pair Aud/Cad at time 00.00 22/8/2014. There is a price spike down and the lowest price was 1.06104 whereas the other brokers was 1.0176. The replied I received from Primus support was "a bad tick occurs when one of our LP's sends an erroneous price to our servers. This will often "print" as a long spike within your MT4 platform's charts and tends to occur "at the roll" from one day's trading session to the next. When this occurs, the charts need to be corrected to the appropriate pricing and any orders impacted by the erroneous tick/price need to be corrected. Your feedback is important to us, and we have been in an ongoing conversation with our Liquidity Providers to get to the root of this issue and correct it as soon as possible. We have discussed the movement of the 00:01 minute of the AUDCAD pair further with our Liquidity Providers, and while they noted that the price was feeding both Bid and Ask values in the 1.0160 area, they also confirmed that these prices did not coincide with our other sources of liquidity. As such we are currently working to update the charts accordingly. As mentioned previously, if any orders were impacted by this price, they will be adjusted accordingly. "
For justice, I would like to invite all professional traders to comment on this case. Is Fair for Primus to put the blame on their LP to save their own company image? In addition to that " Bad tick" have occurred very recent. I have wrote in three times this week on various pairs. Primus always proclaim there are STP, Who are your LP provider? Why does it happen so frequent? I believe many of Primus customers have no knowledge of such occurence. This is not ethical because many will lose money due to Primus LP mistake. As a customer, we have trusted Primus therefore we should be protected not your LP. I demand for solid clarification. To support@primus, Please answer each and every question accordingly. We need to know who is your LP or you are just another market maker? |
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| Comment: | Added by FXPRIMUS Support on 2014-08-25 04:13 |
| | @K.M from Malaysia,
Thank you for your feedback. The latest email we sent to you on 22 August 2014 06:05 PM stated the following:
Thank you for your email. I certainly understand your frustrations as we clear up these types of issues with our Liquidity Providers. We would not engage in the practice of 'stop lost hunting' that you described. We are an STP brokerage and do not intervene in customer executions.
Essentially, a bad tick occurs when one of our LP's sends an erroneous price to our servers. This will often "print" as a long spike within your MT4 platform's charts and tends to occur "at the roll" from one day's trading session to the next. When this occurs, the charts need to be corrected to the appropriate pricing and any orders impacted by the erroneous tick/price need to be corrected. Your feedback is important to us, and we have been in an ongoing conversation with our Liquidity Providers to get to the root of this issue and correct it as soon as possible. Please note that we are not putting the responsibility to our Liquidity Providers, but are merely explaining how this situation occurs.
We have discussed the movement of the 00:01 minute of the AUDCAD pair further with our Liquidity Providers, and while they noted that the price was feeding both Bid and Ask values in the 1.0160 area, they also confirmed that these prices did not coincide with our other sources of liquidity. As such we are currently working to update the charts accordingly. As mentioned previously, if any orders were impacted by this price, they will be adjusted accordingly.
***
As we stated in our email to you we are not pushing responsibility for any bad tick we receive to our Liquidity Providers, but are merely explaining how the situation occurred. As has always been our way since we began operations in 2009, if a situation occurs where a customer account has been negatively impacted due to an issue on our side, we will fully compensate the customer ever dollar and cent that is due to them. We welcome any and all feedback to improve our services.
Warm regards
FXPRIMUS Support |
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VIncent Hew, Malaysia, Malaysia
| Rating: | |
| Date of Post: | 2014-07-19 |
| Review: | on 18/7/2014 5pm(GMT +8) i executed a short trade on CAD/JPY at entry price of 94.37 , target profit of 94.10 and stop loss of 94.60. At 8.30pm, the price fell to 94.05 where is exceeds target profit of 94.10. However, in the next minute, the price went up back to 94.58 and my trade is closed at my stop loss.
My trade should closed at the targeted profit however fxprimus spread during the time is somehow didnt hit my target profit although the selling price went down to 94.05. Hence, goodluck to all traders out there using FXprimus as your broker. |
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| Comment: | Added by FXPRIMUS Support on 2014-07-22 04:09 |
| | @Vincent Hew,
Thank you for your feedback. Please note that as you placed a short trade, that would indicate that you entered the trade on the Bid and would exit the trade on the Ask price. When you say the price fell to 94.05, were you referring to the price on the charts? If so, please note that the chart price is a record of the Bid values only. It may be the case that the Ask price never reached your take profit value. Additionally, please feel free to contact our support team with your MT4 ID and order number and we can audit the trade and also provide you with tick data at the time you believe your take profit should have triggered in order to verify if the Ask price reached your take profit level.
We look forward to hearing from you.
Warm regards,
FXPRIMUS Support |
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MARIO, Singapore, Singapore
| Rating: | |
| Date of Post: | 2014-07-17 |
| Review: | BEWARE. FXPRIMUS IS A TOTAL SCAM. LET ME TELL YOU HOW THEY MAKE MONEY.
FIRST THEY MONITOR ALL YOUR POSITIONS. WHEN THE PRICE IS REACHING YOUR STOP LOSS PRICE, THEY WILL DELIBERATELY INCREASE THE BID ASK SPREAD, AND YOU WILL GET STOPPED OUT.
THEN THEY WILL GIVE THE REASON LIKE "FOREX IS A VOLATILE MARKET AND SPREADS INCREASE" THAT IS THE STANDARD ANSWER THEY WILL GIVE FOR ALL THEIR CHEATING.
I CANNOT BELIEVE THEY ARE ALLOWED TO OPERATE IN SINGAPORE. I HAVE ALREADY CONSULTED AND AM CONSIDERING A CLASS ACTION WITH SEVERAL OTHER CUSTOMERS WHO HAVE DOCUMENTED THEIR TRADES. WE HAVE ALSO REPORTED THIS COMPANY TO THE MONETARY AUTHORITY OF SINGAPORE.
THEIR SPREADS CAN INCREASE TO 10-15 PIPS JUST SO THEY CAN HIT YOUR STOP LOSS. NON ONLY THAT, WHENEVER YOU HAVE A NEWS RELEASE THAT IS MAJOR, I GUARANTEE YOU YOUR PLATFORM WILL HANG!!!!
I AM AWAITING REPLY FROM MONETARY AUTHORITY OF SINGAPORE AND HAVE NOTIFIED THEM OF SCAMMER MARIO SINGH.
PLEASE PLEASE PLEASE HEED MY ADVICE AND WITHDRAW YOUR MONEY IMMEDIATELY! I GUARANTEE YOU THAT IF YOU DO NOT NOTICE ANY PROBLEMS WITH YOUR ACCOUNT, IT IS BECAUSE YOU ARE LOSING!! ONCE YOU ARE WINNING, YOU WILL SEE HOW THEY ACTIVATE YOUR STOP LOSS WITH SPREADS AS HIGH AS 15 PIPS ON A 4 DIGIT BROKER. |
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| Comment: | Added by FXPRIMUS Support on 2014-07-22 10:28 |
| | @ Mario from Singapore,
Please note that if you ever have a trade that you feel should or shouldn't have executed on a preset take profit or stop loss, please send our support team your MT4 ID and order number and we will perform and audit of the trade. Please feel free to share the audit results / our correspondences on this forum.
Warm regards,
FXPRIMUS Support |
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mssu, fuzhou, China
| Rating: | |
| Date of Post: | 2014-06-28 |
| Review: | I also have the same problem as mandy from Beijing,anytime(including news realease)at least 3 seconds to execute the order in my ECN account,very slow.from my computer,I ping the IP of the two servers ,the result is always "time out"。I check the IP address of the two servers (US.54.255.135.153 and Singapore :54.86.72.17，but it is in US) everything is clear，no server is in Singapore.hope your firm fix the problem soon.to my view ,vps is not the best solution.the quality of the sevser is the most important today. |
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| Comment: | Added by FXPRIMUS Support on 2014-07-02 06:03 |
| | @ Mssu from China,
Thank you for your feedback. It appears you may have made a mistake in your findings about our Data Centers. Please note that 54.86.72.17 is the IP of our Data Center in the U.S. and 54.255.135.153 is the IP of our Data Center in Singapore. If you trace the IP's you be able to verify the same.
Also, please note that you should be able to ping our DNS Data Centers without any issues. The results of our Ping test are below:
Pinging mt3-asia.fxprimus.com [54.255.135.153] with 32 bytes of data:
Reply from 54.255.135.153: bytes=32 time=264ms TTL=114
Reply from 54.255.135.153: bytes=32 time=271ms TTL=114
Reply from 54.255.135.153: bytes=32 time=265ms TTL=114
Reply from 54.255.135.153: bytes=32 time=274ms TTL=114
Ping statistics for 54.255.135.153:
Packets: Sent = 4, Received = 4, Lost = 0 (0% loss),
Approximate round trip times in milli-seconds:
Minimum = 264ms, Maximum = 274ms, Average = 268ms
As we notified Mandy (from China) in the previous posting, we understand that connectivity issues tend to occur in China. We are currently working to release a VPS solution that can help with such issues. Please feel free to email us at support.cn@fxprimus.com for details if you are interested as we feel that this may be an ideal solution for you.
We look forward to hearing from you.
Warm regards,
FXPRIMUS Support |
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mandy, beijing, China
| Rating: | |
| Date of Post: | 2014-06-20 |
| Review: | i strongly urge this broker to enhance the ecn executed speed.the average speed is 3 seconds.maybe is the slowest ecn broker in the world.waht is funny is they say it is normal.no one can bear it.there are only two severs in USA,one among the two is a fake from Singapore .i tested many times on my PC from several IPs and different networks,no response at all,which an prove the quality of the two servers are trash.the person from fxprimus never answer my question here with an excuse of my network speed or you will be telling a lie and be regarded as a sucker. |
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| Comment: | Added by FXPRIMUS Support on 2014-06-24 05:31 |
| | @ Mandy from China,
Thank you for your feedback. Our average ECN execution speed is not 3 seconds. Our executions usually average in under 1 second. We are unsure what you mean when you say that we have a "fake" server in Singapore-- Please note that we have Data Centers in both New York as well as Singapore that connect to our primary servers. If you experienced a 3 second execution, can you clarify if it occurred during a time of peak volatility or news? If you'd like, you may email us your MT4 and order number for an audit and, with your permission, we can share the results of the audit on this forum.
Alternatively, as we know that connectivity issues tend to occur in China, we are currently working to release a VPS solution. Please feel free to email us atsupport.cn@fxprimus.com for details if you are interested as we feel that this may be an ideal solution for you.
We look forward to hearing from you.
Warm regards,
FXPRIMUS Support |
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jeanpaul, Brussels, Belgium
| Rating: | No Rating |
| Date of Post: | 2014-06-12 |
| Review: | I never heard of arbitrage trading until now. after a lot of reading I now understand what happened to PBtrader, Ljubljana, Slovenia.
This is still shabby treatment because the fault is the system, not the trader. If the broker wants to avoid this then get rid of fixed trade offering and only offer ECN STP. That will solve the problem. Don't get rid of your clients. This girl only saw a hole in the system and exploited it. For that she is a thief. In looking at arbitrage latency trading on the web, most brokers experience it and come down with a hammer on the client that they THINK is doing this. The question poses itself, "Why don't they all get rid fixed spread?" The fellow from China gave the answer. Because it is profitable for the broker! They can't fix the hole so they visit the wrath of God on whomever they consider guilty. This is highly unethical. It won't do any good to complain about this broker because they all act the same way if you switch. This gives me second thoughts about even trading forex. All the brokers look out for #1,
themselves. Abandon fixed spreads, brokers and clients.
2014-05-29 No Rating I am puzzled by the reply of support to PBtrader, Ljubljana, Slovenia. Why is sniping unethical? I can' find a single thing on the web saying this.A sniper has great patience until his target shows up. This trader obviously did this waiting on the news. The trade could well have gone against her.She took a chance and won. Sure everyone is going to charge in or sell off. Then after a time thje price settles down to where it was. Sounds like she was treated like a thief for a whole lot of work.
r
Copyscape:
0% match | Checked May 29, 2014
Comment: Added by FXPRIMUS Support on 2014-06-04
@ Jeanpaul from Belgium,
Thank you for the astute comment. You may be confusing the term "sniping" with "scalping." Sniping is generally negative and is used to describe a predatory or unethical manner of trading. In the case with PBTrader, the customer was "sniping" during news events with a fixed spread type. Fixed spreads, at times, lag the underlying market (i.e. variable spreads) in which case a "sniper" can trade fixed spreads only during news events in an attempt to earn risk-free profits. While FXPRIMUS is an STP broker, we do need to protect the interests' of our liquidity providers, who are not in the business of giving away risk-free money. It's because of this, that we needed to take action against PBTrader.
Please feel free to respond with any further questions on this or any other matter.
Warm regards,
FXPRIMUS Support |
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| Comment: | Added by FXPRIMUS Support on 2014-06-17 07:43 |
| | @ Jeanpaul from Belgium,
Thank you for your comment. We appreciate your feedback but respectfully disagree that we treated the client poorly or unfairly. The customer knowingly engaged in a prohibited practiced and was sent a warning email to cease this practice. The customer then opened an additional account and engaged in the prohibited practice again, at which time we took the appropriate measures outlined to the client previously in our warning (taken from our Terms of Business which all customers read and agree to when opening an account).
We do not feel that it is fair to remove all fixed spread options from our platform simply because a very small number of people have tried to exploit them during news events. As long as there is strong demand to offer the fixed spread set, we will continue to offer them to our clients.
Please do not hesitate to post additional feedback on this forum--We appreciate the ongoing dialogue on a matter that is important to traders and brokers alike.
Warm regards,
FXPRIMUS Support |
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mr wu, xinyu, China
| Rating: | |
| Date of Post: | 2014-06-09 |
| Review: | i am also puzzled by the explanation on sniping.according to your logic,we can not buy or sell during news?if we do so and make profit,we will be doubt to be sniping and the profit will be deleted?latency arbitrage is popular in Wallstreet,its meaning is high frequent trades to make profit ,never same as the so -called sniping. i wonder how you know Ljubljana from Slovenia is sniping. fxprimus should give evidences to prove it .i.e. IP address or deposite connections? anyhow the initial margin should be returned to this client.
on the other hand ,if this client really use two accounts to trade,it is obviously stupid,because the spread of fixed account is always more than 15 pips during news ,i suffered a lot,once i open orders ,in no time ,the order is stopped out.fixed spread account is sh**.
the so-clled liquidity provider ??we know what it is. |
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| Comment: | Added by FXPRIMUS Support on 2014-06-12 12:38 |
| | @ Mr. Wu from China,
Thank you for your comment. Many traders at FXPRIMUS trade during news, and it is absolutely allowed on our platform. However, exclusive news trading is limited to our ECN Premier spread type only as our ECN Premier has the tightest spreads and offers market executions. The references to sniping not being allowed below relate to our Fixed & Variable spread types. In Ljubijana’s case, the customer was trading exclusively on news using Fixed spreads which is prohibited. As such we took the necessary measures to warn the customer of this policy. Unfortunately the customer disregarded the warning and proceeded to open another fixed spread account where they again traded exclusively during news. This in turn resulted in the recouping of any realized P&L from the account relating to the prohibited trading. All of this was done within accordance of our terms of business after warnings had been issued to the customer. In summary, the issue was not about news trading.
We appreciate your feedback and are at your disposal should you require any further information on this subject.
Warm regards,
FXPRIMUS Support |
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