Loyal Primus

Loyal Primus is a South Africa-based forex and CFD broker run by Loyal Primus (PTY) LTD, licensed by South Africa’s Financial Sector Conduct Authority (FSCA), with a second, offshore entity registered with the Seychelles Financial Services Authority. Entry is cheap: a $15 minimum deposit on the entry accounts, MetaTrader 4 and 5, and a raw-spread account priced from 0.0 pips plus commission. The regulatory picture is less tidy: two entities with very different levels of oversight, a 2023 warning involving the US National Futures Association, and a change of ownership announced in 2026. Each affects how much protection a client actually has.

Who operates Loyal Primus

The FSCA-licensed company is Loyal Primus (PTY) LTD. Its address is First Floor, Kildare Centre, corner of Kildare Road and Main Street, Newlands, 7700, Cape Town, South Africa. The official website is loyalprimus.com. Some of the firm’s own pages, including its “about” page, terms of business and account comparison, are hosted on loyalprimus.net.

The second entity, Loyal Primus Limited, sits under the Seychelles FSA. Running a South African company alongside an offshore sister company is a common structure in retail forex. The brand, platforms and account names can look identical across the two. The difference lies in the legal agreement and the regulator that applies to your account.

The broker describes its execution as STP/NDD (straight-through processing, no dealing desk). In this model, client orders are passed to liquidity providers rather than filled against an in-house dealing desk. This is the broker’s own description of its execution. The firm does not accept clients from the United States.

Regulation: what the two licences mean

FSCA licence (Loyal Primus (PTY) LTD)

The FSCA is South Africa’s market conduct regulator. It authorizes financial services providers (FSPs) under the Financial Advisory and Intermediary Services (FAIS) Act. Loyal Primus (PTY) LTD holds FSCA licence number 51830, which is the number to search on the FSCA’s FSP register. When you check it, confirm three things:

• the entity name matches exactly,
• the licence status is active,
• the categories and product types it is authorized for cover the instruments you plan to trade (such as derivatives and CFDs).

Seychelles FSA (Loyal Primus Limited)

Loyal Primus Limited is registered with the Seychelles FSA under reference 26626 BC 2022. The Seychelles FSA is classed as an offshore regulator. Offshore oversight generally means lighter capital, reporting and client-money requirements than in tier-1 or tier-2 jurisdictions, and fewer practical routes for a retail client to pursue a dispute.

Which entity you would be dealing with

This is the question that matters most for an account holder. A client onboarded through the Seychelles entity is governed by Seychelles rules, even though the FSCA licence appears on the same website. Before depositing, confirm three points. First, check the contracting entity named in the client agreement and account opening documents: if it says Loyal Primus Limited, the FSCA licence is not the one protecting you. Second, check on the FSA’s register what the Seychelles reference 26626 BC 2022 identifies, whether a securities dealer licence or a company registration. Third, since the 2026 ownership change, check that the entity names and licence numbers in the current client agreement still match the FSCA and FSA registers.

The NFA warning

The broker carries one regulator warning. In 2023, Loyal Primus was reported to have claimed NFA ID 0555433 while not being an NFA member. The National Futures Association is the self-regulatory organization for the US derivatives industry, and its BASIC database lets anyone look up a firm’s membership status.

With no US clients, an NFA membership would have no obvious role in the firm’s business. The warning concerns how the firm presents its credentials. It is the reason to check each regulatory claim on the broker’s site against the regulator’s own register.

Account types and trading costs

Loyal Primus offers six account types: Cent, Standard, RAW, Pro, Bonus and Cashback. The accounts run on MetaTrader 4 and MetaTrader 5, although the Bonus account page lists MetaTrader 5 as its platform. They differ in deposit threshold, spread and commission:

• Cent: $15 minimum deposit, spreads from 0.6 pips.
• Standard: $15 minimum deposit, spreads from 0.6 pips.
• Bonus: spreads from 1.2 pips.
• RAW: $50 minimum deposit, spreads from 0.0 pips, plus a commission of $3 per lot per side ($6 per round turn).

The “from” figures are minimum spreads. Live spreads are typically wider, especially around news releases, at the daily rollover, and on less liquid pairs. EUR/USD has a minimum spread of 0.6 pips on the Cent account. Gold (XAU/USD), GBP/USD and USD/JPY are also tradable, and the broker does not quote minimum spreads for them.

Comparing Standard and RAW costs

The RAW commission is quoted per side. You pay $3 per lot when you open and another $3 per lot when you close, so a complete trade costs $6 per standard lot before spread. Confusing per-side with round-turn pricing halves the apparent cost.

Assumptions: one standard lot of EUR/USD (100,000 euros), where one pip is worth $10 because the quote currency is the US dollar. Spreads are at their “from” values. Swaps and slippage are excluded.

At the advertised minimums, Standard and RAW cost the same per round turn. Which is cheaper in practice depends on the spreads you actually get on each account. If the RAW account’s live spread stays close to zero while the Standard account’s widens, RAW comes out ahead. If both widen by similar amounts, the commission makes RAW the more expensive of the two. Comparing your own fills or average spreads on a demo or small live account shows which applies to your trading.

Position size determines how these per-lot costs scale. A 0.10-lot trade on RAW costs $0.60 in commission per round turn, and a 2-lot trade costs $12. The position size calculator converts a stop distance and risk percentage into a lot size, after which the per-lot costs above can be applied.

Cent account

The Cent and Standard accounts share the same minimum deposit and minimum spread. The difference is how the account is denominated. In the usual cent-account setup, the balance is shown in cents and contract sizes are scaled down, allowing very small live positions. Check Loyal Primus’s contract specifications for the exact lot size and trade size limits on its Cent account, since these determine how much a one-pip move is worth.

Bonus account

The Bonus account’s minimum spreads (from 1.2 pips) make it twice as costly per lot as Standard, presumably the price of whatever deposit or trading bonus comes with it. Broker bonuses usually carry conditions, such as trading volume requirements before withdrawal or rules on whether the bonus counts toward margin, so read the bonus terms in full before choosing this account over Standard.

Deposits, withdrawals and inactivity fee

Loyal Primus charges no deposit fee. The fee to watch is the inactivity fee: $25 per month on dormant accounts, or the remaining balance if it is below $25.

That second clause means a small idle account can be emptied entirely. For example, a client who deposits the $15 minimum, trades briefly and leaves $15 in the account would lose the full balance in the first month the dormancy fee applies. The terms of business define when an account becomes dormant, so read that definition before leaving funds idle. Withdrawing a small leftover balance, or closing the account, avoids the charge.

On withdrawals, request them back to the same method used for deposits where possible. Have identity verification completed before the first withdrawal request, since unverified accounts are a common reason for payment delays at brokers in general.

Platforms and Loyal Primus login

The mobile app is distributed through Google Play.

The broker uses two different sets of credentials:

1. Client area (portal) login. This uses the email and password you register with. The client area is where you complete verification, open trading accounts, deposit and withdraw.
2. Trading account login. MetaTrader identifies each account by a login number, a trading password and a server name. Live and demo accounts sit on different servers, and choosing the wrong server is the most frequent reason a correct login number and password are rejected. The server name is listed in the account-opening email or in the client area next to each trading account.

An MT4 login will not work in MT5, and the reverse is also true. Each account is created for one platform, so a trader who wants both needs a separate account on each.

Because the firm uses both loyalprimus.com and loyalprimus.net, take care with login links. Reach the client area by typing the address or using a saved bookmark, not through links in unsolicited emails or messages. Download the mobile app only from the official store listing.

Ownership change in 2026

In March 2026, Loyal Primus announced that it had been acquired by a newly structured institutional management group. A change of ownership does not change an existing client’s contract on its own. However, it can lead to updated terms of business, revised account types or fee schedules, new payment providers, or a reorganization of which entity holds client accounts.

Existing clients should watch for updated legal documents and confirm that their contracting entity and regulator are unchanged.

Strengths and trade-offs

Strengths

• FSCA licence for the South African entity (licence 51830), a tier-2 regulator with a public register.
• Low entry deposit of $15 on the Cent and Standard accounts.
• Raw-spread account with commission clearly stated per side and per round turn.
• Full MetaTrader support (MT4 and MT5) on every account type, plus web and mobile access.
• No deposit fee.

Trade-offs

• Two-entity structure, with one entity under an offshore regulator. Your protection depends on which entity holds your account.
• 2023 NFA warning over a claimed membership the NFA does not recognize.
• Inactivity fee of $25 per month that can take a small dormant balance in full.
• Bonus account pricing is double the Standard account’s minimum spread.
• Recent ownership change (March 2026) may bring revised terms.
• No US clients.

How we checked Loyal Primus

We visited loyalprimus.com on 13 November 2026, connecting from Tallinn, Estonia. The site opened normally on desktop and on a phone. We scrolled to the footer, which names the operator as Loyal Primus (PTY) LTD, Company Registration No. 2020/159568/07, with FSP No. 51830 and a Cape Town address. From there we clicked through to the FSCA regulation page, the About page, Terms & Policies and the Terms of Business. We also read the pricing, funding, platform and bonus pages. We did not spot a separate risk warning on the pages we walked.

The pricing page lists six accounts, not four: Cent, Standard, RAW, Pro, Bonus and Cashback. Minimum first deposits run from $15 on Cent and Standard to $100 on Pro, with $50 on RAW. RAW commission is stated as $3 per lot, per side ($6 per round turn). The fee that stands out is dormancy. The site charges $25 monthly after three months without activity, or the whole balance if it is lower. Leverage is advertised up to 1:3000. We did not open an account, so we cannot say whether funding or platform downloads require registration first.

Next, the registers. The FSCA FAIS financial services provider search was down for routine maintenance on 13 November 2026, so we could not complete the check of Loyal Primus (PTY) LTD under FSP 51830. That gap matters. Our search of the FSA Seychelles list of regulated capital-markets entities, under its Securities Dealer tab, did not return Loyal Primus Limited. An empty result like that may reflect how the entity is listed, so we treat it as unresolved rather than conclusive.

On Trustpilot, which we read on 13 November 2026, Loyal Primus scored 1.6/5 from 36 reviews, and 83% of them were one-star. The company had replied to none of the 8 newest. The Wayback Machine’s first capture of the domain is dated 2023-03-07. What we could not verify is the current status of FSP 51830 itself, and we have no first-hand view of deposits or withdrawals, since we made none.

Who it may suit

On these terms, Loyal Primus fits most naturally with traders who:

• want MetaTrader access with a small starting balance, using the Cent or Standard account for low-capital live trading;
• trade often enough to compare the RAW and Standard accounts on actual spreads;
• are willing to confirm for themselves that their account sits with the FSCA-licensed entity.

It is a weaker fit for traders who:

• put regulatory standing ahead of entry cost;
• would only be onboarded through the Seychelles entity;
• expect to leave balances idle for long periods.