Trading is already hard enough, may it be for beginners or experts, but brokers that implement practices unfavorable to traders can slow down or diminish progress. If you are looking for trading brokers, it is vital to identify reliable and viable ones to make higher profits. One way is to know whether your chosen trading broker, like FXPRIMUS, is a regulated trading company.
What Regulations Does FXPrimus Follow?
FXPRIMUS lives for its over 11 years of history and numerous awards in the trading industry, along with its excellent customer support system. Thus, it is no doubt that they follow not just one but three primary regulations in its three locations (Cyprus, South Africa, and the Republic of Vanuatu).
- FXPRIMUS Cyprus (CY): under the Cyprus Securities and Exchange Commission (CySEC)
- FXPRIMUS South Africa (SA): under the Financial Sector Conduct Authority (FSCA)
- FXPRIMUS Vanuatu: under the Vanuatu Financial Services Commission (VFSC)
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CySEC, FSCA, and VFSC
CySEC regulated and authorized brokers like FXPRIMUS ensures that the trading company is compliant with European Securities and Markets Authority (ESMA) sets of rules. FSCA abides with the Markets in Financial Instruments Directive (MiFID) trading regulations. Although VSFC has different and less strict demands from the first two regulations, FXPRIMUS holds an offshore license under this commission.
However, you must know that even though FXPRIMUS CY, SA, and VU is under one corporation, they have different restrictions as per the regulations mentioned above. The CY company’s trading limitations are under the ESMA influence, while the VU company accepts European traders.
Leverage Levels On Three Locations
Understanding leverage allows you to deal with high risk and losses as you trade money to increase your initial balance. However, FXPRIMUS leverage levels vary in its three locations as regulatory restrictions define the maximum leverage that a broker can offer to its clients.
Traders with European accounts need to comply with the maximum leverage level of 1:30 under the CySEC and MiFID regulations. South African traders can access up to 1:200 on currency pairs and lower on other financial instruments. Meanwhile, Vanuatu-based traders have maximum levels of up to 1:300 provided.
If you want to have competitive pricing, trading conditions, and spreads added with low commission trade charges, FXPRIMUS is one of the best choices that you have. Don’t risk your hard-earned money over brokers that follow no regulation; don’t settle for less.
I’m Jon, owner of Trade Wise at https://tradewise.community/ and https://www.youtube.com/channel/UC7VmOx8DbvX4Rbrac2pPcjw
I review forex and crypto trading products and services to find the best of what’s out there for creating a passive income without becoming a full-time trader.