FX Primus Ltd.

FX Primus Ltd.

July 12, 2012 04:31 ET

FXPRIMUS Highlights 2011 Audit, Emphasising Unprecedented Brokerage Industry Client Funds Safety Measures

Starts ground-breaking quarterly brokerage audit initiative

EBÈNE, MAURITIUS--(Marketwire - July 12, 2012) - Leading foreign exchange brokerage FXPRIMUS today announced the completion of its 2011 Audit, conducted by world-renowned accounting firm, Lancasters.

Click here to view the 2011 audit letter to see the complete financial position of the firm.

President of FXPRIMUS, Terry Thompson said, "As the Safest Place to Trade, it's our responsibility to our clients to fully abide by all rules and regulations mandated by our licensing in Mauritius. This includes an annual audit and as we did in 2011 (for fiscal year 2010), we worked with Lancaster again this year to complete an audit to provide a true and fair view of the financial position of FXPRIMUS."

"While most brokerages are not obligated to undergo financial audits and do not go through the process, FXPRIMUS has begun implementing voluntary quarterly audits from the start of 2012 - which is yet another first from FXPRIMUS, for the brokerage industry," he said.

"In light of recent and continuing turmoil in the brokerage industry, with questions being asked about alleged client funds misuse by unscrupulous brokers, it's more crucial than ever before, to invest with a broker that goes above and beyond the norm to provide safety to its clients," he added.

FXPRIMUS' annual and quarterly audits along with segregated Trust accounts for all clients regardless of account size, third party independently administered accounts and the broker's recent ISO 27001 certification in Information Security give FXPRIMUS the confidence to state that it continues to be The Safest Place to Trade.

FXPRIMUS maintains constant communication with all its liquidity providers, counterparties and vendors, and therefore has remained completely unaffected by recent events in the brokerage industry. The company fully scrutinises each third party it engages, and continuously monitors them to ensure constant oversight, with comprehensive implementation of stringent checks and balances.

"We feel that operating with any less oversight, would be a disservice to our clients, who have placed their trust in us," said Terry Thompson. "Auditing is important because it protects the public from scams or corrupt business procedures. Undergoing an Audit ensures that your brokerage is using fair policies prescribed by law. Knowing this, you can rest assured that your money is held in safe hands," he said.

While it's an arduous and expensive process for a foreign exchange brokerage firm to satisfy the requirements for an audit, FXPRIMUS feels that it is absolutely necessary to show its clients they are in complete compliance across all facets of their business.

"We further believe we must take steps such as this to exhibit to our clients that we are indeed the gold standard when it comes to safety of funds, said Terry Thompson. And we encourage the investing public to perform complete due diligence when it comes to choosing a brokerage to place its hard earned capital," he added.

ABOUT FXPRIMUS

FXPRIMUS offers retail traders a level of trade execution, service quality and fund safety that are normally reserved only for the largest investors. Serving traders in 205 countries across 6 continents whilst combining an unmatched level of fund safety with regular independent audits of company financials and Straight Through Processing, top notch execution with tight spreads, prompt and responsive customer support, ISO 27001 certification in Information Security and an industry-leading trader toolset that includes free access to powerful trader tools and personal coaching via FXPRIMUS Coach truly make FXPRIMUS The Safest Place To Trade.

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