FxPrimus vs IG - 2023 Comparison | FX Australia
AuthorBy Björn Michels
Updated: August 29, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At FX Australia, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.11/ 5 USD 15CySEC Regulated BrokersVanuatuMarket MakerCryptocurrencies, Energies, Stock CFDs, Forex, Indices, Metals434
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
  • Great customer support
  • High commission
  • Limited education
  • Limited market analysis
Read Review 1110.503.5/ 5 11110.54.5/ 5 111115/ 5 11110.54.5/ 5 110002/ 5 11110.54.5/ 5 11110.54.5/ 5 64.54%1000:10.10 pips ECN Premium Account, PrimusCent, PrimusClassic, PrimusPRO, PrimusZERO, Variable Account MT4, MT5, cTraderBank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Fasapay, Unionpay8 - 10 USD / lot - PRO Account
11110.54.69/ 5 AUD 0FCA Regulated BrokersASIC Regulated Forex BrokersFinancial Services Conduct AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSwiss Financial Market Supervisory AuthorityBest Forex Brokers in SingaporeFMA Regulated Forex BrokersDubai Financial Services AuthorityFinancial Services AgencyCommodity Futures Trading AssociationFinansinspektionenMarket MakerBonds, Commodities, Cryptocurrencies, Digital 100s, Stock CFDs, ETFs, Forex, Indices, Interest Rates8010
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
  • High minimum deposit
Read Review 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 111115/ 5 111115/ 5 111104/ 5 66%30:10.60 pips DMA, Live Account, Spread Betting MT4, L2 Dealer, ProRealTimeBank Transfer, Visa, Mastercard, PaypalFees Included in Spread

How do IG and FxPrimus stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

FxPrimus

IG

At FX Australia, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare IG and FxPrimus, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does IG or FxPrimus have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that IG holds six Tier 1 and four Tier 2 licences, and FxPrimus holds no Tier 1 and one Tier 2 licences.

 

Can I trust IG?

Yes as IG was founded in 1974 and is regulated by ASIC, MAS, BaFin, CFTC, DFSA, FCA, FSA-Japan, FSCA, Fi, FMA and FINMA.

 

Can I trust FxPrimus?

Yes as FxPrimus was founded in 2009 and is regulated by CySEC and VFSC.

 

Based on these findings, IG earned a higher trust rating than FxPrimus.

Does IG or FxPrimus have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that IG has overall lower trading costs than FxPrimus. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Commission
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
FXPRIMUS
11110.54.5/ 5
USD, EUR, GBP, SGD, PLN, THB
1.50 pips
USD 0
USD 15
0.30 pips
1.50 pips
0.80 pips
IG
11110.54.5/ 5
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
0.60 pips
USD 0
USD 6
0.85 pips
1.40 pips
0.94 pips

 

Does IG or FxPrimus offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, FxPrimus offers support for cTrader, MT4 and MT5 and IG offers support for MT4, L2 Dealer and ProRealTime. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both FxPrimus and IG offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
IG
11110.54.5/ 5
L2 Dealer
ProRealTime

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that IG offers a greater range and depth of instruments to trade than FxPrimus. IG offers 80 Forex pairs to trade and FxPrimus offers 43 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, IG offers 10 cryptocurrencies while FxPrimus offers 4 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with IG.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither FxPrimus nor IG charges a withdrawal fee. Overall, IG has better deposit and withdrawal processes than FxPrimus. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

IG has better educational support than FxPrimus. IG offer educational support for more experienced traders and FxPrimus does not.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
FXPRIMUS
Medium
IG
High

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that IG offers better research analysis than FxPrimus and that both FxPrimus and IG offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
FXPRIMUS
IG

 

Our overall Verdict on IG

Founded in 1974 and ASIC-regulated since 2001, IG has a long history of providing safe and secure trading, low trading fees, and a vast range of trading instruments.

Our research found that IG has over 320,000 clients worldwide and has been the largest CFD broker in the world by revenue for the last few years. It has two low-cost trading accounts with no minimum deposit requirements and offers trading on over 17,000 instruments, all of which can be accessed on its award-winning app and web trader platform.

For more traditional investors, IG also runs a fully licenced stock brokerage on the side. And in addition to a wide range of trading tools, IG has a world-class selection of educational and market analysis materials to get new traders started.

Our overall Verdict on FxPrimus

FXPRimus does NOT accept Australian clients. This review is for educational purposes only.

With a strong focus on customer satisfaction, FXPrimus is renowned for its personalised customer support, free deposits and withdrawals, and provision of negative balance protection for all clients.  However, trading fees on its entry-level accounts are significantly higher than other brokers. 

Globally acclaimed for offering one of the fastest and most secure online trading environments, FXPrimus's trading platform support is one of the best in the industry, with MT4, MT5, and cTrader all available. It also offers a number of trading tools, including a VPS service at an extra cost, FIX API, and premium trader tools. 

FXPrimus's entry-level accounts accommodate beginner traders with minimum deposits of 15 USD, spreads averaging at 1.50 - 1.7 pips on the EUR/USD, which is wider than other brokers, but with no commissions. Its other accounts offer very competitive spreads which will appeal to more experienced traders, but these have higher minimum deposits.

A multi-asset broker, FXPRIMUS offers trading on Forex, commodities, indices, share CFDS, and cryptocurrencies, but the number of assets in each class is limited compared to what's available at other brokers. It also lacks in educational and market analysis content, forcing traders to self-educate with other third-party materials.

Which broker has the highest overall rating?

IG has an overall rating of 4.69 and FxPrimus has an overall rating of 4.11. For more detail please read our reviews of IG and FxPrimus.

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