Score

5.64 /10
Average

Loyal Primus

Saint Vincent and the Grenadines

2-5 years

Regulated in South Africa

Financial Service Corporate

MT5 Full License

Global Business

Suspicious Overrun

High potential risk

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Comparison

Quantity 6

Exposure

Time Machine
Website

Score

Regulatory Index5.87

Business Index6.14

Risk Management Index0.00

Software Index8.79

License Index5.87

The WikiFX Score of this broker is reduced because of too many complaints!
Time Machine
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Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

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40G

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Broker Information

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Company Name

Loyal Primus Ltd

Company Abbreviation

Loyal Primus

Platform registered country and region

Saint Vincent and the Grenadines

Company website

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WikiFX Risk Alerts 3
Previous Detection : 2024-12-23
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • This broker exceeds the business scope regulated by South Africa FSCA(license number: 51830)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

WikiFX Verification

Pyramid scheme complaint
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Loyal Primus · Company summary
Broker Name Loyal Primus
Registered in St. Vincent and the Grenadines
Regulated by Not regulated
Founded in 2020
Trading instruments Forex pairs, commodities, futures, metals, cryptocurrencies
Minimum Initial Deposit $15
Maximum Leverage 1:1000
Minimum spread 0.6 pips onwards
Trading platform MT4
Deposit and withdrawal method Information not available
Customer Service 24/5 Email
Fraud Complaints Exposure No for now

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of Loyal Primus

Pros:

  • Commission-free trading with spreads starting at 0.6 pips for all account types

  • Up to 1:1000 maximum leverage offered

  • Multiple account types with low minimum deposits, including a demo account for practicing trading strategies

  • Access to the popular and user-friendly MT4 trading platform

  • Market screener, economic calendar, and market analysis available for traders to stay informed

  • 50% deposit bonus promotion available for new accounts

Cons

  • Not regulated by any financial authority, increasing the risk for traders

  • Limited information about deposit and withdrawal methods available on their website

  • Customer support only available via email

  • Limited educational resources beyond market analysis and basic economic calendar

  • Limited trading instruments compared to some other brokers, with only forex pairs, commodities, futures, metals, and cryptocurrencies available.

What type of broker is Loyal Primus?

Pros Cons
  • Loyal Primus offers tight spreads and fast execution due to its Market Making model.
  • As a counterparty to its clients' trades, Loyal Primus has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

Loyal Primus is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, Loyal Primus acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that Loyal Primus has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with Loyal Primus or any other MM broker.

What is Loyal Primus?

Loyal Primus is a forex and CFD broker registered in St. Vincent and the Grenadines. The company offers a range of trading instruments including forex pairs, commodities, futures, metals, and cryptocurrencies. They offer commission-free trading with spreads as low as 0.6 pips for all account types, including the Standard and Standard Pro accounts with minimum deposits of $10 and $100 respectively, and a demo account with no minimum deposit required. The company uses the MT4 platform, and provides leverage of up to 1:1000. Loyal Primus also offers educational resources such as a market screener, economic calendar, and market analysis. However, their customer support is limited to email only, and there is little information available about deposit and withdrawal methods.

In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

What is Loyal Primus?

Market Instruments

Pros Cons
  • Popular tradable assets including forex pairs, commodities, futures, metals, and cryptocurrencies.
  • Not regulated by any financial authority, which may expose traders to potential fraud.
  • Ability to access various markets and diversify trading portfolios.
  • Limited information on trading conditions, such as spreads, leverage, and fees.
  • Opportunity for traders to take advantage of different market trends and profit from volatility.
  • Lack of transparency regarding pricing and execution.
  • Potential for high returns due to the volatility of some of the instruments offered.
  • No negative balance protection, meaning traders may potentially lose more than their initial deposit.
  • Opportunity for traders to hedge their positions and manage risks.
  • Limited customer support, which may result in delays in resolving trading issues.

Loyal Primus offers access to four classes of financial instruments for trading, including forex pairs, commodities, futures, metals, and cryptocurrencies. This allows traders to access various markets and diversify their trading portfolios, taking advantage of different market trends and profit from volatility. The potential for high returns exists due to the volatility of some of the instruments offered, and traders have the opportunity to hedge their positions and manage risks.

Market Instruments

Spreads, Commissions and Other Costs

Pros Cons
  • Commission-free trading
  • Wide spreads may increase trading costs
  • Competitive spreads from 0.6 pips
  • Limited information about other potential costs such as swap fees or inactivity fees
  • No hidden fees or charges
  • Transparent pricing

Loyal Primus offers commission-free trading on all account types, making it an attractive option for traders who want to minimize costs. The spreads start from as low as 0.6 pips, which is a competitive rate compared to other brokers in the industry. The pricing is transparent and there are no hidden fees or charges, providing a sense of security for traders. However, it is important to note that wide spreads may increase trading costs, especially for high-frequency traders. Additionally, the broker does not provide much information about other potential costs such as swap fees or inactivity fees, which may be a disadvantage for some traders.

spreads and commissions

Promotions

Welcome Bonus

New clients are welcomed with an enticing $30 credit upon funding their account for the first time. To qualify, simply deposit a minimum of $15. This bonus credit is valid for 14 days from the deposit date, providing ample opportunity to explore the platform. However, it's important to note that the bonus is a one-time offer per new client. When you eventually go to withdraw funds, the $30 credit will be deducted from your account balance.

Welcome Bonus

Deposit Bonus

For a limited time from May 27th to June 7th, 2024, the broker is offering an enticing 50% deposit bonus for Pro Bonus accounts. New clients can boost their trading capital with up to $400 in bonus funds when making their initial deposit. The great part is you can accumulate deposits during this promotion period to maximize the bonus amount received. Just keep in mind that the bonus credit is only valid for 14 days and will be removed from your account balance upon making a withdrawal. Additionally, the bonus is at risk of being canceled if your positions hit a stop-out or margin call. While a generous offer, be sure to review the full terms as the broker reserves the right to cancel or modify the bonus at their discretion without prior notice. Used wisely though, it provides an excellent opportunity to increase your trading power.

Deposit Bonus

Trading Accounts Available at Loyal Primus

Loyal Prime serves traders of all levels with three account options. Their lineup includes:

The Standard Account - Designed as an accessible entry point, this account requires a minimum deposit of just $15. It provides plenty of flexibility with maximum leverage up to 500:1 and tight spreads from 0.6 pips. There are no hidden commission fees, ensuring cost-effective trading.

The Standard Pro Account - For more experienced traders seeking enhanced leverage, this option demands a $100 minimum deposit. In exchange, you gain access to leverage up to 1000:1 while still benefiting from the same competitive spreads from 0.6 pips and zero commissions.

The Demo Account - An invaluable tool for novice traders to hone their skills risk-free. No minimum deposit is required, yet you experience real live conditions with maximum 500:1 leverage and spreads from 0.6 pips. Get accustomed to the platform before committing capital.

Pros Cons
  • Low minimum deposit requirement for the standard account
  • No other account types offered
  • Multiple account types available for different needs and trading styles
  • No information provided on additional account features such as bonuses or promotions
  • No commissions charged on any account type
  • Maximum leverage of 1:1000 for Standard Pro account may be too high and risky for some traders
  • Demo account available for beginners to practice and learn trading without risking real money
  • Limited information provided on account funding and withdrawal methods
Trading Accounts Available at Loyal Primus

Trading platform(s) that Loyal Primus offers

Pros Cons
  • Popular and widely-used platform
  • Limited integration with social trading
  • Customizable interface with various technical analysis tools
  • Limited support for automated trading strategies
  • Fast and reliable trade execution
  • Limited in-built fundamental analysis tools
  • Availability of a vast online community and support
  • Limited custom indicators
  • Compatibility with various devices including desktop, mobile, and web-based platforms
  • Limited charting capabilities

MT4 is a highly popular and widely-used trading platform in the forex industry. It offers a customizable interface with various technical analysis tools, including customizable charting and a range of built-in indicators, to help traders analyze market trends and make informed trading decisions. Additionally, the platform is known for its fast and reliable trade execution, making it a preferred choice for many traders. The platform is compatible with various devices, including desktop, mobile, and web-based platforms, making it highly accessible to traders. Despite these advantages, there are some drawbacks to using MT4. These include limited integration with social trading, limited support for automated trading strategies, limited in-built fundamental analysis tools, limited custom indicators, and limited charting capabilities.

Trading platform(s) that Loyal Primus offers

Maximum leverage of Loyal Primus

Pros Cons
  • Can potentially amplify profits
  • Increases risk of significant losses
  • Allows traders to control large positions with small amounts of capital
  • Can lead to overtrading and emotional decision making
  • May increase trading opportunities
  • May lead to margin calls and forced liquidation
  • Provides flexibility in trading strategies
  • Not suitable for inexperienced traders or those with limited capital

The maximum leverage offered by Loyal Primus is up to 1:1000, which is considered to be a high level of leverage. This means that traders can control larger positions with a smaller amount of capital, potentially increasing their profitability. However, high leverage also significantly increases the risk of significant losses, as even small market movements can result in large losses. It is important for traders to be experienced and knowledgeable about the risks associated with high leverage before utilizing this tool in their trading strategy. Inexperienced traders or those with limited capital may find high leverage to be too risky and may be better off using lower leverage options.

Deposit and Withdrawal: methods and fees

Pros Cons
  • 50% deposit bonus promotion
  • Limited information about deposit and withdrawal methods on website
  • Lack of transparency about processing time for withdrawals
  • Minimum deposit required for the standard account is relatively high

Loyal Primus offers a 50% deposit bonus promotion which can be an advantage for traders looking to boost their initial trading capital. They do not charge any fees for deposits and withdrawals, and offer multiple payment options such as bank transfers, credit cards, and e-wallets, which provides flexibility to their clients. The deposit process is easy and fast, which is a positive aspect. However, the lack of transparency about processing time for withdrawals and the limited information available on their website about deposit and withdrawal methods can be a disadvantage. Additionally, the minimum deposit required for the standard account is relatively high compared to other brokers, which can make it difficult for traders with smaller budgets to start trading with Loyal Primus.

deposit and withdrawal

Educational Resources at Loyal Primus

Pros Cons
  • Market screener, economic calendar, market analysis
  • Limited educational resources
  • User-friendly interface
  • No webinars or educational videos
  • In-depth market analysis
  • Limited research materials
  • Real-time news updates
  • No trading tutorials or guides

Loyal Primus offers a few educational resources to assist traders in their analysis and decision-making process. These resources include a market screener, an economic calendar, and market analysis. The market screener is an essential tool that helps traders to identify potential trading opportunities based on technical and fundamental analysis. The economic calendar, on the other hand, provides real-time updates on upcoming economic events that can impact the financial markets. Additionally, the market analysis offers in-depth research on market trends and conditions, which can help traders stay up-to-date with the latest developments. However, Loyal Primus lacks extensive educational materials, such as webinars or educational videos. There are also no trading tutorials or guides, which can be a disadvantage for beginner traders.

educational resources

Customer Service at Loyal Primus

Pros Cons
  • Quick response time via email
  • Limited customer service channels
  • 24/5 customer support
  • No phone or live chat support
  • Multilingual customer service
  • Limited availability on weekends

Loyal Primus offers customer support only via email, which is available 24/5 and in multiple languages. While email support can be efficient and provides a written record of the conversation, it may not be ideal for urgent queries that require immediate attention. Unfortunately, the company does not offer phone or live chat support, which are more immediate and provide a more personalized experience for customers. Additionally, customer support is not available on weekends, which could be inconvenient for traders in different time zones or those who need assistance outside regular business hours. Overall, while Loyal Primus does offer some level of customer support, the limited channels and availability may not be sufficient for all traders.

customer support

Conclusion

In conclusion, Loyal Primus appears to offer a range of trading instruments with competitive spreads and zero commissions. The platform offered is the popular MT4, and traders have access to high leverage of up to 1:1000. However, the company is not regulated by any financial authority, and there is limited information available about the deposit and withdrawal process. The educational resources provided are also limited, with only a market screener, economic calendar, and market analysis available. Customer care is also limited to email support. Traders should be aware of the risks associated with trading with an unregulated company and take appropriate precautions. While Loyal Primus may offer attractive trading conditions, traders should carefully consider their options and conduct their due diligence before deciding to invest their funds with this company.

Frequently Asked Questions (FAQs)

Is Loyal Primus a legit broker?

No, Loyal Primus is not regulated by any financial regulator.

What trading platforms does Loyal Primus offer?

Loyal Primus offers the popular MetaTrader 4 (MT4) trading platform for desktop, web, and mobile devices.

What is the minimum deposit required to open an account with Loyal Primus?

The minimum deposit for a standard account is $10, while the minimum deposit for a standard pro account is $100.

Does Loyal Primus offer any educational resources for traders?

Yes, Loyal Primus provides a market screener, economic calendar, and market analysis to help traders stay informed.

What is the maximum leverage offered by Loyal Primus?

Loyal Primus offers a maximum leverage of up to 1:1000 for traders.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

News

NewsDon't miss out! These exclusive Diwali offers

LoyalPrimus offers 50% bonus as Diwali promotion. It began on November 1 and will continue until December 30, 2023. The broker said that for a limited time period, it is offering a 50% bonus on funds. Furthermore, the broker stated As a special Diwali treat, we're adding an extra 20% bonus to make your celebration even grander. You will gain an additional 70% trade power!

WikiFX
2023-11-16 18:10
Don't miss out! These exclusive Diwali offers

NewsCan We Trust Loyal Primus?

In today's article, WikiFX will be taking you on an in-depth review of Loyal Primus, which is a relatively new Forex broker within the industry that was established in 2020.

WikiFX
2023-06-27 17:41
Can We Trust Loyal Primus?

ExposureWikiFX Review: What does Loyal Primus look like?

Loyal Primus is catching our eye as it seems to be a trending topic. WikiFX made this article to help you better understand this broker.

WikiFX
2022-11-19 08:00
WikiFX Review: What does Loyal Primus look like?

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FX1534966318
0-3months
Stay away from this fraudulent broker. Yesterday I made a deposit of $600 USD, made a profit of 126 USD and decided to withdraw all my capital to go trade at another broker, but a few hours later my account was deactivated and they blocked me from accessing the dashboard. Now I have my $600 USD stuck in this fraudulent broker. They deactivated my 3 trading accounts too with profit and deposit of 600 usd. accounts 75214066, 75214069 and 75214068
Stay away from this fraudulent broker. Yesterday I made a deposit of $600 USD, made a profit of 126 USD and decided to withdraw all my capital to go trade at another broker, but a few hours later my account was deactivated and they blocked me from accessing the dashboard. Now I have my $600 USD stuck in this fraudulent broker. They deactivated my 3 trading accounts too with profit and deposit of 600 usd. accounts 75214066, 75214069 and 75214068
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2024-11-26 18:40
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AYUSUF1123
3-6months
I traded at this broker with a deposit of 307$. Immediately after that I just traded normally. My trading was in the Xauusd pair with a layering lot of 0.03 with 10 layers. I sold in the 2420 area and I closed at around 2395, making a profit of around $875. Immediately the next day after making the payment details I withdrew all my money amounting to $1182.30 but immediately after that my account was disabled by LoyalPrimus. I hereby hope for the good faith of the LoyalPrimus broker to immediately pay all my withdrawals.
I traded at this broker with a deposit of 307$. Immediately after that I just traded normally. My trading was in the Xauusd pair with a layering lot of 0.03 with 10 layers. I sold in the 2420 area and I closed at around 2395, making a profit of around $875. Immediately the next day after making the payment details I withdrew all my money amounting to $1182.30 but immediately after that my account was disabled by LoyalPrimus. I hereby hope for the good faith of the LoyalPrimus broker to immediately pay all my withdrawals.
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2024-07-31 07:04
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