About Forex Day
Overview
Forex Day is a retail forex and CFD broker operating under the domain account.fxprimus.com, a subdomain of FXPrimus. The broker was founded on April 1, 2019, and is registered in the United Kingdom. According to our records, Forex Day has no confirmed regulatory licences, which is a notable point for potential traders.
The broker's website, accessible via FXPrimus.com, presents itself as a secure and award-winning trading platform trusted by over 5 million traders. It offers a range of account types and trading instruments across forex, metals, indices, and more. The site also emphasizes technology, security, and a trader-centric approach.
Regulation and Safety
Our records indicate that Forex Day does not hold any verified regulatory licences from established financial authorities. This absence of regulatory oversight is a significant consideration for traders seeking protection under schemes such as compensation funds or dispute resolution services.
The broker's website claims to be a trusted and regulated broker, but we could not independently confirm these claims with any official register. Traders should exercise caution and conduct their own due diligence before committing funds.
Account Types
Forex Day offers four main account tiers: PrimusCLASSIC, PrimusPRO, PrimusZERO, and PrimusSYNTHETICS. Each account is designed to cater to different trading styles and experience levels.
The PrimusCLASSIC account is suited for beginners with low minimum deposit and no commission. The PrimusPRO and PrimusZERO accounts target more experienced traders with tighter spreads and higher leverage. The PrimusSYNTHETICS account is for those interested in synthetic instruments. All accounts provide access to a wide range of instruments and platforms.
Trading Platforms and Instruments
The broker supports MetaTrader 4, MetaTrader 5, and WebTrader, which are popular choices among retail traders. These platforms offer advanced charting, automated trading via Expert Advisors, and mobile compatibility.
In terms of instruments, Forex Day claims over 1,000 trading instruments including major, minor, and exotic forex pairs, metals, energies, and indices. The website also mentions synthetic instruments, though specific details are limited.
Fees and Commissions
Forex Day advertises competitive spreads and transparent fee structures. The PrimusCLASSIC account has spreads from 1.5 pips with no commission, while the PrimusPRO account has spreads from 0.3 pips and commissions of $8-$10 per lot.
The broker states that there are no hidden fees on deposits or withdrawals, and withdrawal fees are covered. However, traders should be aware of potential bank intermediary charges for wire transfers. Leverage varies by account, with the Classic account offering up to 1:2000 and the Pro account up to 1:500.
Deposits and Withdrawals
The broker offers multiple payment methods for funding accounts, with no deposit fees and a streamlined process. Withdrawals are also promoted as fee-free from the broker's side, with quick processing times.
It is important to note that while the broker covers its own fees, banks or payment providers may impose charges. The website advises clients to contact their bank for details on any such fees.
Target Audience
Forex Day appears to target a wide range of retail traders, from beginners to professionals. The variety of account types and the availability of copy trading make it accessible to those with limited experience.
The broker's bonuses and promotions, such as the 100% deposit bonus and cashback program, are likely aimed at attracting traders looking for additional trading capital or rewards. However, the lack of regulatory oversight may deter risk-averse traders who prioritize investor protection.
Overview compiled by FXCanary from regulatory records and public data. full Forex Day review