What is Loyal Primus？
Loyal Primus is a forex broker with a unique approach, distinguishing itself from traditional match-based brokers by frequently taking on the role of the counterparty to its clients in order to generate profits. This model offers investors benefits like rapid order execution, reduced spreads, and greater flexibility in leverage options. Nevertheless, it also entails certain risks, as client losses can translate into gains for Loyal Primus.
Loyal Primus Company Summary：
Loyal Primus is registered in Saint Vincent and the Grenadines and focuses on providing a variety of trading tools, including an array of both mainstream and exotic forex pairs, as well as commodities, futures trading, various metals, and the increasingly popular cryptocurrency market. According to the official website of Loyal Primus, the company was established in 2020, with the registration number 26626BC 2022, and the registered address at Griffith Corporate Centre, Suite 305, Saint Vincent and the Grenadines. However, upon verification with the Financial Services Authority of Saint Vincent and the Grenadines, it was discovered that the company was actually established in 2022, which means the company misrepresented its year of establishment. This could be an attempt to appear more credible and may be indicative of fraudulent activities. Additionally, a Whois search by Trading Encyclopedia revealed that the domain name for Loyal Primus's official website was registered on December 18, 2021. Such false advertising can easily mislead customers and damage investor interests. Therefore, investors should carefully verify information and thoughtfully consider whether to engage with such companies.
Is Loyal Primus Safe? Does Loyal Primus Hold Financial Regulatory Licenses?
Loyal Primus claims on its official website to be regulated by the Financial Sector Conduct Authority (FSCA) in South Africa and the National Futures Association (NFA) in the United States. Upon checking with the FSCA website, it was confirmed that the company's regulatory information is accurate; however, Loyal Primus only holds a Category 1 license, which authorizes them to provide advice or intermediary services related to financial products, but not support foreign exchange transactions. Therefore, LOYAL PRIMUS (PTY) LTD operates beyond its licensed limits.
Furthermore, when checking the NFA website, the result shows that Loyal Primus is not an NFA-regulated member, indicating that Loyal Primus has not received NFA recognition and regulation. Additionally, Loyal Primus uses falsified regulatory information to conduct financial business, which may mislead investors and harm clients' interests. This indicates that Loyal Primus employs deceptive advertising and promotional tactics, which are not allowed in the financial market. Therefore, investors should remain vigilant and avoid trading with unverified companies.
Trading Products Provided by Loyal Primus:
Loyal Primus offers a variety of financial instruments for trading, including forex pairs, commodities, futures, and metals. These instruments cover different markets, enabling traders to better leverage market opportunities and diversify their investment portfolios. Moreover, some of these financial instruments have significant volatility, which presents the potential for high returns. For instance, in the forex market, currency prices are highly volatile due to changes in economic and political conditions between different countries. By trading forex pairs, traders can capitalize on this volatility to gain profits. Similarly, in the commodity market, prices of different commodities are influenced by factors such as supply and demand, leading to high volatility.
In addition to utilizing market volatility for high returns, traders can also hedge positions and manage risk through these instruments. Hedging involves opening opposing positions in different markets to mitigate risks in investment portfolios. For example, if a trader believes that the price of a particular commodity may fall, they can simultaneously open a short position and a long position in other commodity to avoid single commodity price decline risk. Moreover, for high-volatility financial instruments, traders can adopt risk management strategies, such as setting stop-loss orders to control losses.
In summary, through the various financial instruments provided by Loyal Primus, traders can leverage market opportunities, achieve portfolio diversification, and effectively hedge positions and manage risks to improve trading efficiency and profitability.
Trading Software Provided by Loyal Primus:
Loyal Primus supports the MT4 trading software, which is a highly regarded platform with a customizable interface and charts and various technical analysis tools and built-in indicators such as MACD, KDJ, CCI, among others, to help investors observe market trends and make informed trading decisions.
The MT4 software is known for its fast and reliable trade execution, making it the preferred platform for many investors and financial institutions. The software is also compatible with multiple devices, including PC, mobile devices, and web-based platforms, allowing for convenient forex trading at any time and place. Furthermore, the MT4 software is equipped with secure encrypted communication features to protect users' personal information and trade data, ensuring the safety and reliability of the trading process.
Whether using the MT4 software or other trading tools and services, Loyal Primus is committed to providing investors with an efficient, safe, and reliable trading environment.
Loyal Primus Deposit Bonus Terms and Conditions:
Loyal Primus offers a deposit bonus promotion for both Standard and Professional Bonus Accounts. The standard account can get a 20% bonus on the deposited amount, with a maximum point limit of $1,000, while the professional bonus account can get a 50% bonus, with a maximum point limit of $400. During the promotion period, customers can participate in the promotion multiple times until they reach the point limit. However, the promotion is only valid from November 1, 2023, to November 30, 2023, and the bonus will be automatically deposited into the customer's trading account and will last for 14 days. Once a customer makes a withdrawal, the deposited bonus will be canceled, and the deposit bonuses are only applicable to Standard Accounts (20%) and Professional Bonuses (50%). If the position hits the stop-loss or the margin call level, the bonus will be liquidated. Customers can choose to cancel the deposit bonus at any time, but canceling a deposit bonus cannot be restored. Loyal Primus reserves the right to change, update, or cancel the promotion without notice in the company news. If customers violate the terms and conditions, as well as the Loyal Primus business terms, Loyal Primus reserves the right to cancel customers' bonuses.
Spreads and Commissions of Loyal Primus :
Loyal Primus offers commission-free trading for all account types, making it an attractive option for traders who want to minimize costs. Additionally, the broker's spreads are as low as 0.6 pips, which is competitive compared to other brokers in the industry. In terms of pricing, Loyal Primus maintains transparency and does not have hidden fees or charges, providing traders with a sense of security and trust.
However, it should be noted that larger spreads can increase trading costs, especially for high-frequency traders. Therefore, investors should evaluate trading costs based on their own trading strategies and risk tolerance and choose the appropriate trading tools and services accordingly. Moreover, although Loyal Primus does not charge potential costs such as swaps or dormant fees, there may be other fees during actual operations.
Additionally, it should be noted that brokers may not provide information about other potential costs, such as swap fees or dormant fees, which may be unfavorable for some traders. Therefore, investors should understand the various fees and costs involved in trading and choose a trading platform and service provider that meets their needs accordingly.
In summary, Loyal Primus, as a competitive broker, provides commission-free trading services with spreads as low as 0.6 pips and transparent pricing with no hidden fees or charges, attracting many investors. However, investors should pay attention to trading costs and other potential fees and evaluate their risk tolerance to make wise decisions.
Accounts and Leverage of Loyal Primus:
Here is the information about Loyal Primus accounts and leverage ratios organized into a table:
Please note that the table is a simplified representation and may not include all the detailed nuances of the accounts and leverage offered by Loyal Primus. It's important for investors to conduct their own research and consult with financial advisors before engaging in high leverage trading.
Empolyees of Loyal Primus：
Traderknows found information about the corporate personnel of Loyal Primus on the open internet, indicating a relatively high level of transparency for Loyal Primus.
Loyal Primus User Comments：
Here's a summary of investors' reviews of Loyal Primus:
Both clients gave negative feedback about Loyal Primus. The first client expressed disbelief on October 14, 2023, that the company was set up to make investors incur losses, feeling they were caught in a scam, which led to some financial loss. Despite initial setbacks, the customer was ultimately compensated through the aid of a professional firm and cautioned others to be wary of most investment companies.
The second client, on February 28, 2023, labeled Loyal Primus as the worst and most dishonest trading company, even referring to them as "criminals." They recounted a distressing experience with an attempted withdrawal of £100,000 that was illegally traded within four hours of being redeposited into their account, leading to the loss of all funds. Disappointed by the company's lack of concern, this client managed to recover their funds through contact with an individual offering assistance and by using WhatsApp.
Both reviews highlighted highly stressful and negative experiences, painting a picture of a brokerage firm that investors should approach with caution.
Loyal Primus’s Contact Information:
The current customer support options provided by Loyal Primus are relatively limited, as investors can only contact them through email. This restriction may inconvenience some investors and could potentially lead to delayed resolution of their issues or concerns.
Loyal Primus Market Research:
Loyal Primus has multiple social media accounts, including LinkedIn, Instagram, Twitter, Facebook, and YouTube. These social media platforms provide investors with a channel to interact and communicate with Loyal Primus to better meet their needs and increase their engagement.
Fund security:
Loyal Primus does not publish any third-party fund supervision information on the official website, and the security of users' funds cannot be guaranteed.
Pros and Cons of Loyal Primus:
Pros：
- Offering a variety of financial instruments such as forex pairs, commodities, futures, and metals, allowing traders to operate flexibly in different markets and achieve diversified investment portfolios.
- Utilizing the highly acclaimed MT4 trading software to provide traders with a convenient and efficient trading environment.
- Providing low spreads as low as 0.6 pips and commission-free trading, delivering relatively low-cost trading services to clients.
- Offering different types of accounts and leverage ratios to meet the diverse needs and preferences of various investors.
- Publicly disclosing information about relevant company personnel, demonstrating a commendable level of corporate transparency.
Cons：
- Falsified Establishment Year: Falsification of the company's founding year, possibly for the purpose of fabricating credibility, may pose a fraudulent activity that could harm the interests of investors.
- Inaccurate Regulatory Information: In reality, the company only holds a first-class license and is not a member of NFA, potentially leading to misinformation and misguidance for clients.
- Negative Online Publicity: The presence of numerous negative sentiments on the internet may reflect investors' dissatisfaction and concerns regarding the company.
- Limited Customer Support Channels: The provision of customer support solely through email may inconvenience clients in addressing issues or concerns promptly.
- Unclear Fund Security: The lack of disclosure of third-party fund regulatory information on its official website means clients' fund security lacks a clear guarantee.
Frequently Asked Questions about Loyal Primus:
- Q: Is Loyal Primus safe?
A: No, Loyal Primus is not regulated by any financial regulatory authority.
- Q: What is the minimum deposit required to open an account with Loyal Primus?
A: The minimum deposit for a STANDARD account is $10, while the minimum deposit for a STANDARD PRO account is $100.
- Q: Does Loyal Primus provide any educational resources for traders?
A: Yes, Loyal Primus offers market screeners, economic calendars, and market analysis to help traders stay informed.
- Q: What is the maximum leverage offered by Loyal Primus?
A: Loyal Primus offers a maximum leverage of up to 1:1000 for traders.
Conclusion：
Loyal Primus has demonstrated excellence in providing diversified financial instruments, utilizing the widely acclaimed MT4 trading software, and offering low spreads with commission-free trading. However, the company faces issues such as a fabricated establishment year, false regulatory claims, negative online sentiment, limited customer support channels, and a lack of clear safeguards for fund security.
Therefore, when considering collaboration with Loyal Primus, investors need to carefully verify company information, including the establishment year and regulatory qualifications. Fabricated information can mislead investors, and false regulatory claims can erode client trust. Additionally, negative online sentiment indicates investor dissatisfaction and concerns.
Despite offering attractive promotions and a low-cost trading environment, investors should weigh these advantages against the risks. When selecting a broker, it is crucial for investors to remain vigilant, thoroughly understand the company's background and reputation, and make informed investment decisions. Currently, Loyal Primus is flagged as "Suspected Fraud" on Traderknows.
