Forex Brokers News
FXPRIMUS Proudly Announcing Move to CySEC
The purpose of this letter is to notify you that pursuant to an email you received two weeks ago, FXPRIMUS is migrating all current customers from our Mauritius entity over to our newly formed CySEC regulated entity FX Primus Europe (CY) Ltd. This migration will be occurring on April 6th and will be relatively effort free from the part of the client. All open positions and free margin monies will be transferred over to FX Primus Europe (CY) Ltd. without impacting your live trades.
Once the migration is complete, all that will be needed from you is to visit our website, http://account.fxprimus.eu/en, and read and agree to the terms and conditions within your Member Area home page. Once completed to, you will be able to navigate through our website as usual.
What the move to FX Primus Europe (CY) Ltd. means to you:
CySEC & MiFID
Your funds and account(s) are now regulated by the Cyprus Securities & Exchange Commission (CySEC)– one of the most widely respected regulatory bodies not only in Europe but in the world. As a European investment firm, FXPRIMUS is a MiFID Forex broker in full compliance with the regulations of Markets in Financial Instruments Directive (MiFID).
Segregated Client Accounts
As usual FXPRIMUS client funds are in a completely segregated account with highly rated banking institutions, thereby safeguarding against use for any other purpose. Funds are currently going to be held at Hellenic Bank, a publicly traded institution with assets of over $7.1 Billion in assets in business since 1976. We will be adding additional banking institutions (both EU & non EU) in the near future to provide additional choices for bank wire deposits.
Investor Compensation Fund
FXPRIMUS is a member of the Investor Compensation Fund. The Fund was established under the Investment Firms Law of 2002 and the establishment and Operation of an Investor Compensation Fund for customers of Cyprus Investment Firms Regulations of 2004 which were issued under the Law. All retail clients have their funds insured to a maximum of 20,000 Euros each, in the unlikely event that the company cannot fulfill its obligations due to insolvency.
Additional Deposit & Withdrawal Options
In addition to our wide variety of payment options, as an advantage of now being domiciled in the EU, we are able to offer additional deposit & withdrawal options including PayPal & Bitcoin to name a few. Please be on the lookout for the announcement of these options shortly as they are implemented.
Tighter Spreads & Better Executions
Due to the amount of business we provide our liquidity providers combined with our CySEC regulation, we’re now being offered up to a 40% reduction in our ECN Premier spreads, with as low as 0.1 on our EUR/USD & 0.4 on our GBP/USD currency pairs. In addition, we are able to improve our execution policies which may include client advantages such as even faster executions and positive slippage on take profit orders. Please look out for an announcement detailing these important changes shortly.
FXPRIMUS has always done its best to provide our most important asset — you the client –with the best of best. It is our hope that this important milestone in our company’s history is accomplishing this, yet again. We’ve always prided ourselves in being the gold standard in the Forex industry and sincerely appreciate each and every one of you for making us who we have become over the almost six years of existence. We are pleased that you are joining us for this new exciting chapter, and feel the best is still yet to come.
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