Compare FxPrimus vs RoboMarkets
What is FxPrimus? What is RoboMarkets?
FxPrimus is a forex broker that was founded in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Vanuatu Financial Services Commission (VFSC). FxPrimus offers trading on 42 currency pairs, as well as CFDs on metals, indices, commodities, and cryptocurrencies.
RoboMarkets (formerly RoboForex) is a forex broker that was founded in 2009 and is regulated by the CySEC. RoboMarkets offers trading on 36 currency pairs, as well as CFDs on stocks, ETFs, indices, commodities, and cryptocurrencies .
FxPrimus vs RoboMarkets Regulation Comparison
Both FxPrimus and RoboMarkets are regulated by the CySEC, which is a reputable regulator in the European Union that ensures the protection of investors and the compliance of brokers with the MiFID II directive. The CySEC also provides a compensation scheme that covers up to €20,000 per client in case of broker insolvency.
FxPrimus also holds a license from the VFSC, which is a regulator in Vanuatu that has a low level of trust and does not impose strict requirements on brokers. The VFSC does not provide any compensation scheme or investor protection measures.
RoboMarkets does not have any other licenses besides the CySEC.
FxPrimus vs RoboMarkets Trading Assets Comparison
FxPrimus offers more currency pairs than RoboMarkets, with 42 vs 36 respectively. However, RoboMarkets offers more CFDs than FxPrimus, with 12000 vs 140 respectively. RoboMarkets has a wider range of CFDs on stocks, ETFs, and indices, while FxPrimus has more CFDs on metals and commodities.
Both brokers offer CFDs on cryptocurrencies, but RoboMarkets has more options, with 26 vs 5 respectively. RoboMarkets also offers CFDs on Bitcoin Cash, Ethereum Classic, Monero, and Zcash, which are not available at FxPrimus.
FxPrimus vs RoboMarkets Trading Fees Comparison
FxPrimus and RoboMarkets both charge variable spreads on their forex and CFD trades, which depend on the market conditions and the account type of the trader. Both brokers also charge commissions on some of their account types, such as ECN or Prime accounts.
The average spread for the EUR/USD pair at FxPrimus is not available, while at RoboMarkets it is 1.4 pips for the standard account. The all-in cost for the EUR/USD pair at FxPrimus is not available either, while at RoboMarkets it is 0.8 pips for the active account.
Both brokers also charge swap fees for holding positions overnight, as well as inactivity fees for dormant accounts. However, RoboMarkets offers a negative balance protection policy that prevents traders from losing more than their initial deposit, while FxPrimus does not have such a policy.
FxPrimus vs RoboMarkets Account Types Comparison
FxPrimus offers three main account types: Standard, Premium, and VIP. The Standard account requires a minimum deposit of $1000 and has no commissions but higher spreads. The Premium account requires a minimum deposit of $2500 and has lower spreads but charges commissions of $10 per lot. The VIP account requires a minimum deposit of $10000 and has the lowest spreads but charges commissions of $8 per lot.
RoboMarkets offers five main account types: Pro-Standard, Pro-Cent, ECN-Pro NDD, Prime, and R Trader. The Pro-Standard and Pro-Cent accounts require a minimum deposit of $10 and have no commissions but higher spreads. The ECN-Pro NDD account requires a minimum deposit of $100 and has lower spreads but charges commissions of $20 per million. The Prime account requires a minimum deposit of $5000 and has the lowest spreads but charges commissions of $15 per million. The R Trader account requires a minimum deposit of $100 and has access to over 12000 stocks and ETFs but charges commissions of 0.01% per trade.
FxPrimus vs RoboMarkets Deposit Options Comparison
FxPrimus and RoboMarkets both offer a variety of deposit and withdrawal options, such as bank wire transfer, credit/debit cards, e-wallets, and cryptocurrencies. However, RoboMarkets has more options than FxPrimus, such as Skrill, Neteller, WebMoney, Perfect Money, FasaPay, and UnionPay.
Both brokers do not charge any fees for deposits, but they may charge fees for withdrawals depending on the method and the amount. RoboMarkets also offers a loyalty program that allows traders to reduce or eliminate their withdrawal fees based on their trading volume.
FxPrimus vs RoboMarkets Trading Platforms Comparison
FxPrimus and RoboMarkets both support the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are widely used by forex traders for their advanced features, customizability, and compatibility with automated trading systems. Both brokers also offer web-based versions of these platforms that can be accessed from any browser without downloading any software.
FxPrimus also offers its own proprietary platform called Primus WebTrader, which is a simple and user-friendly platform that allows traders to access the markets from any device. RoboMarkets also offers its own proprietary platform called R Trader, which is a multi-asset platform that allows traders to access over 12000 stocks and ETFs, as well as create and test their own trading robots using a cloud-based strategy builder.
FxPrimus vs RoboMarkets Analytical Tools Comparison
FxPrimus and RoboMarkets both provide various analytical tools to help traders make informed decisions, such as economic calendars, market news, trading signals, technical indicators, and charting tools. However, RoboMarkets has more tools than FxPrimus, such as trading calculators, market sentiment analysis, trading central reports, and robo-advisors.
Both brokers also offer educational resources to help traders improve their skills and knowledge, such as webinars, videos, articles, tutorials, and glossaries. However, FxPrimus has more resources than RoboMarkets, such as ebooks, podcasts, quizzes, and courses.
FxPrimus vs RoboMarkets. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading style, and goals. There is no definitive answer to which broker is better, as each one has its own advantages and disadvantages. Ultimately, the best way to decide which broker is more suitable for you is to test them out by opening a demo account or a real account with a small deposit and testing their service and performance.
