Loyal Primus is a forex and contract for difference (CFD) broker founded in 2022 in Saint Vincent and the Grenadines, with its headquarters in Kingston. The company primarily offers CFD trading services for forex, precious metals, commodities, and more. The official website of this broker is: https://loyalprimus.com/. It supports multiple languages, including Arabic, English, Simplified Chinese, Filipino, Hindi, Indonesian, Malay, Tamil, and Thai. It's worth noting that Loyal Primus does not provide services to residents of Afghanistan, Cuba, Iran, North Korea, Sudan, Syria, Ukraine, and the United States due to legal restrictions.
Company Background:
Loyal Primus claims to have been established in 2011, with registration number 26626 BC 2022 and a registered address at Suite 305, Griffith Corporate Centre, St. Vincent and the Grenadines. However, according to information from the Financial Services Authority of Saint Vincent and the Grenadines, the company was founded in 2022, raising suspicions of a fictitious establishment year. According to Whois records, the broker's domain name was registered on December 18, 2021.
Regulatory Status:
Loyal Primus claims to be regulated by two financial regulatory authorities:
Financial Sector Conduct Authority (FSCA) of South Africa: The information provided on Loyal Primus's official website matches the information displayed on the FSCA's official website, confirming its regulation by the FSCA.
National Futures Association (NFA) of the United States: The broker's website claims to be regulated by the National Futures Association (NFA) of the United States. However, according to information obtained from the NFA's official website, the company is not an NFA-regulated member, indicating fictitious regulatory information.
Trading Products:
Loyal Primus offers various financial instruments for users to trade, including:
Forex: Loyal Primus provides opportunities to trade a wide range of currency pairs in the forex market. Forex CFDs allow investors to trade based on price fluctuations between one currency and another. Examples of available currency pairs include EUR/USD, GBP/USD, USD/JPY, and more.
Precious Metals: CFDs for precious metals like gold and silver offer trading opportunities based on price changes. Investors can trade precious metal CFDs without needing to possess physical assets, potentially benefiting from price fluctuations.
Commodities: CFDs for commodities allow investors to potentially profit from price fluctuations in raw materials and resources. Commodities include items like crude oil, copper, and iron ore. These CFDs enable investors to participate in various commodity markets without holding physical assets.
These products provide opportunities for investors to access different financial markets and manage risks through diverse investment portfolios.
Account Registration:
Loyal Primus' official website provides a link for account registration, allowing users to choose between opening a demo or a live account. The registration process is as follows:
Open the TrioMarkets official website and click on "REGISTER" in the top right corner.
Fill in the required information (such as name, email, password, etc.) as per the instructions on the page to complete the account registration.
Account Types:
Loyal Primus offers three account types:
- STANDARD Account
- STANDARD PRO Account
- DEMO Account
Users can select the account type that suits their trading needs.
Spreads and Leverage:
Loyal Primus offers spreads starting from 0.6 for all three account types. There are no commissions. Leverage varies depending on the account type. The STANDARD Account offers leverage of 1:500 with a minimum deposit of $15, the STANDARD PRO Account offers leverage of 1:1000 with a minimum deposit of $100, and the DEMO Account provides leverage of 1:1000. It's important to note that high leverage in forex trading carries significant risks and requires investors to be well-educated about market mechanisms and consider their investment goals and risk tolerance carefully.
Deposits and Withdrawals:
Loyal Primus supports various deposit and withdrawal methods, including bank transfers, e-wallets, and digital assets. Investors can choose the method that suits their needs.
Trading Platform:
Loyal Primus provides the widely recognized MT4 trading platform for users. This software offers a customizable interface with various technical analysis tools, customizable charts, and a range of built-in indicators such as MACD, KDJ, CCI, and more.
MT4 is known for its fast and reliable trade execution, making it a preferred choice for many investors and financial institutions. The software is compatible with multiple devices, including PC, mobile devices, and web-based platforms, making it easy for investors to use.
Customer Support:
Investors can reach Loyal Primus's customer service via email and social media（Facebook, LinkedIn, Twitter, and others）. However, the broker's website does not specify the hours of its customer service operation, which may affect the speed of response to customer inquiries.
Summary:
Loyal Primus offers users the opportunity to trade a variety of financial products. However, the broker's fictitious establishment year and questionable regulatory information, such as its claim of being regulated by the National Futures Association (NFA) of the United States, raise concerns about its legitimacy. Currently, Loyal Primus is marked as "suspected scam" on TraderKnows. Users should exercise caution when considering the services provided by this company and prioritize the security of their assets to avoid falling into potential scams.
