BP Prime is a CFD Broker that features on its trading platform CFDs on forex, indices, commodities, cryptocurrencies. BP Prime is a subsidiary company of Black Pearl Securities Limited, a corporation that is regulated and overseen by the Financial Conduct Authority (FCA) in the United Kingdom. The minimum spread is for EUR/USD 0.3 pips*, real trading is possible with the minimum deposit of $/€/£100. The BP Prime website is available in English, Spanish, Italian, Chinese.
What do we cover in our BP Prime Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- Website address: www.BPPrime.com
- Leverage: up to 1:30
- Instruments: CFDs – Forex, indices, commodities, cryptocurrencies
- Minimum deposit: $/€/£100
- Demo account: Yes, free of charge
- Methods of deposit and withdrawal: Wire Transfer, Neteller, Credit and debit cards (Visa/MasterCard)
BP Prime Trading Platform
For FX and CFD trading, BP Prime offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application.
BP Prime Spreads
As any other CFD broker, BP Prime charges a spread fee. For the most current spread charges, please visit the BPPrime.com website. Here is a spread comparison table that contrasts BP Prime spreads with popular industry competitors.
*Minimum spreads recorded on 14.09.2019 at 11:03 GMT, spread charges were taken from the website of the broker. Unfortunately, it is not obvious for what account type these spread charges apply. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
BP Prime regulation
Black Pearl Securities Limited is authorized and regulated by the Financial Conduct Authority with a registration number 688456.
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce BP Prime.
BP Prime Pros
- Tight spreads
BP Prime Cons
- No CFDs on stocks
- Confusing information about the minimum deposit
To sum up the BP Prime Review
BP Prime adheres to strict regulatory guidelines of the FCA. The broker offers tight spreads on most assets and features a free demo account for practise trading. The amount of available CFDs is solid, but I am missing CFDs on stocks.
What is, however, strange is that if you take look a the PM Prime FAQ, you can notice that the minimum deposit is for a standard account is $/€/£100, for a pro account $/€/£1 000 and for a prime account $/€/£ 10 000. If you, however, look at the page account type, the minimum deposit for the standard and pro account is $/€/£5,000. So, I am not really sure which one is true. I guess you will have to contact their customer support if you want to trade with the broker.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with BP Prime.
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