In my book, every trader is unique, all traders have different trading styles and employ varying trading strategies and methodologies. But most importantly, these trading styles constantly change with time and are vastly dependent on the current market conditions.

Over the last couple of years, I have utilized the services of a couple of different brokers in my trading endeavors, the main reason being, not a single foreign exchange broker out there in the market is able to fully satisfy all my requirements as an constantly evolving Retail Forex Trader.

Some Forex traders like myself sometimes employ scalping strategies when the current markets conditions are sluggish while other simply swear by hedging methodologies.

Frankly speaking, I’m not a huge fan of hedging. To me, hedging is like trading without a sense of direction, it tells me that you as a trader, have not formed a pre-concieved opinion where the market is actually heading, so why risk it? And besides, all trading accounts under US based brokers do not allow hedging as it is officially banned by the NFA in the US.

Another annoying factor about certain Forex brokers is that some of them disallows the use of Expert Advisers (EAs), more commonly known as Forex Robots or Bots. I have never really understood why? Ain’t it to their advantage that more trades are made as they earn their commissions through the pip spreads?

Anyway, it is because of the employment of different trading styles that makes “sticking” with a single Foreign Exchange Broker so tedious. Most FX Brokers out there either disallows scalping, bans hedging, or forbids the use of EAs.

And that is precisely the reason why I have been personally using 2 different Foreign Exchange Brokers with separate Live accounts until recently when I was introduced to FXPRIMUS Broker by my Forex Coach and mentor Mario Singh, who has appeared on Forex Medias like CNBC, CNA, Forex Journal etc.

One of the main reasons why I have switched over to them lies not just in their ability to cater to my particular trading requirements but they are also one of the few FX brokers out there who takes the side of the “Trader”. Probably due to the fact that the owner are also traders by profession and personally knows the difficulties faced by Retail Forex traders.

Before I signed up with them, I made an effort to find out certain facts about them and here’s what I dsicovered :

(1) Regulations & Licensing :

• They are registered outside of the US, in Mauritius, probably because of the obvious Off-Shore advantages.
• And are regulated under the Financial Services Commission (FSC).
• The additional advantage over US based brokers is that they have offices in the US but are not affected by the hedging restrictions imposed by the NFA.

(2) Security Of Client’s Trading Funds :

• Independently administered segregated client accounts are kept at a reputable bank like the Standard Chartered Bank.
• Client’s funds are not manged internally like most other brokers but instead managed by a Large 3rd Party Trustee Group called Turnstone Group.
• They have strict financial accounting practices with accounts audited by Ernst & Young.
• The thing that gave me peace of mind is that customer’s funds are very safe, even in the unfortunate event of broker liquidation.

(3) Operations :

• First & foremost, they are Not a Market Maker. They utilizes Straight Through Processing , ensuring that retail traders like us gets the best possible pip spreads.
• Another advantage of their services lies in the fact that they do not have a Dealing Desk that actually trades against their own clients, something that I personally loath.

(4) Pip Spreads :

• Unlike most brokers, they offer both Fixed & Variable Pip Spreads.
• Pip spreads can go as low as 1 pip for major currency pairs like the EURUSD.
• During normal market volatility, they have the policy of No re-quotes and slippages, something you would really appreciate if you have the experience of constantly not being able to enter or exit at your desired prices due to slippages.

(5) MT4 Server :

• Their primary trading platform is the globally recognized and widely popular MT4 platform. This has the advantage over other proprietary trading platforms in the sense that there are heaps of “Free” or “Paid” MT4 trading indicators or EAs on the market that you can purchase as part of your trading system.
• Unlike other metatrader 4 brokers who have different servers for Demo, Standard, Mini & Micro Accounts, they have an All-In-One Account that provides the same data feed to all their clients.
• If you are not aware of the real value behind this, just observe the data feed of the Demo and Standard Accounts of your current broker and you will detect a slight difference in the current market price depending on the different types of accounts you are logged on to. Mind you, this subtle difference can sometimes means hitting your profit targets or stop loses.

(6) Leverage :

• The average market leverage ratio is about 1:100, but recent rumors from the US seems to suggest that there might be a cap of 1:10 in the future for US based brokers. This is indeed bad news for traders as this would mean that we as retail traders will have to fork out more money upfront to open a live account just to conduct the same level of risk/reward trades.
• Luckily for their clients, they have the benefit of up to a leverage of 1:500, one of the highest in the industry.
• However, I personally would not recommend using such a high leverages if you do not possess the adequate knowledge of how leverage actually works. A word of caution though, leverage is the ultimate “Double Edge Sword” in this industry.

(7) 24 Hour Customer Service :

• Have you ever experience technical difficulties during trading and have to wait 2 days before anyone from your broker got back to you about the issue? Well, I certainly have!
• Luckily for me, it is now a thing of the past, their “Online Chat” function is indeed a life saver, and email support usually takes no more than 24 hours to respond.

(8) Ability To Trade Other Financial Instruments On The Same Platform :

• Most Foreign Exchange Brokers as the name implies, only allow Spot Forex trading on their platforms.
• But with FXPRIMUS, traders are offered the opportunity to trade Gold, Oil, CFD’s & Options all on the same trading platform, eliminating the need for employing the services of different brokers for all the different financial instruments.

In my personal opnion, they can be considered one of the best broker for the forex market. I’m really impressed by the flexibility of FXPRIMUS Broker and have no regrets since the day I signed up with them.

Besides, they offer one of the most affordable rates for opening a Live account, the minimum requirements is only $250 USD compared to an average of $2000 USD to $3000 USD for other big name Foreign Exchange Brokers.

Don’t take my word for it, go sign up a Free Demo account with them and check out their services for yourself. They even offer a 50% trading bonus for new clients.

Have a safe and profitable trading day ahead.

Forex Singapore – Your Forex Trading Success Begins Here.

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