Abstract：Bold Prime is a Forex CFD provider that provides tradable instruments including CFDs, Options, Indexes, Shares, and Commodities. The broker also provides four live accounts with a maximum leverage of 1:2000. The minimum spread is from 0.0 pips and the minimum deposit is $15. Traders can also use MT4 and MT5 trading with Bold Prime and experience 24-hour customer support.
Company Summary
Bold Prime Information
Bold Prime is a Forex CFD provider that provides tradable instruments including CFDs, Options, Indexes, Shares, and Commodities. The broker also provides four live accounts with a maximum leverage of 1:2000. The minimum spread is from 0.0 pips and the minimum deposit is $15. Traders can also use MT4 and MT5 trading with Bold Prime and experience 24-hour customer support.
Pros and Cons
Is Bold Prime Legit?
Bold Prime is currently shown as unregulated
What Can I Trade on Bold Prime?
Bold Prime is one of the popular brokers offering forex, stock and index trading. The company offers 27 currency pairs for trading, including major, minor and exotic currencies. For example, EUR/USD spreads start at 0.1 pips and go up to 1.8 pips. The broker's leverage options are also high, up to 1:2000. you can trade all popular currency pairs, including EUR/USD, GBP/USD, USD/JPY and AUD/USD. In addition, you can trade exotic currency pairs such as EUR/Turkish Lira and USD/Mexico Peso.
The broker also offers CFDs on shares and indices. You can trade CFDs on more than 250 stocks of well-known companies such as Amazon, Facebook and Google. You can also trade CFDs on indices from major exchanges, including NASDAQ, S&P 500 and Dow Jones. Spreads are competitive and start from 0.1 pips.
Account Type
Bold Prime has four account types: MT4 Prime ECN, MT4 Prime Standard, MT5 Prime ECN, and MT5 Prime Standard. Traders who want low spreads and leverage can choose ECN accounts, while those with a small budget can open an MT4 Prime Standard account.
In addition, the demo account is predominantly used to familiarize traders with the trading platform and for educational purposes only. Copy trading is also available, a way for inexperienced traders or followers who don't have the time to do extensive research or want to diversify their portfolio to copy the trades of experienced traders (also known as money managers or copy trading gurus). Muslims are allowed to open Islamic accounts without swaps.
Bold Prime Fees
The spread starts from 0.0 pips. The lower the spread, the faster the liquidity.
Leverage
Bold Prime offers leverage ranging from 1:300 to 1:2000. this is one of the highest leverage ratios in the forex industry and it offers traders a lot of trading flexibility. This is an advantage for those who want to trade with a high level of risk, but it is also a disadvantage as it can lead to significant losses if the trade does not go as planned. In addition, the minimum deposit required to open an account is $15, which is very low compared to other brokers.
For those who don't know, leverage is the ratio of the amount you borrow from the broker to the amount you have in your account. For example, if you trade with a leverage of 1:100, it means that for every $100 you have in your account, you will borrow $1!
Trading Platform
Traders can conduct financial activities in MT4/MT5 available in iOS, Android, and Windows. Junior traders prefer MT4 over MT5. Both MT4 and MT5 provide various trading strategies and implement EA systems. (The MT4 platform focuses on the Forex and CFD markets, while the MT5 platform deals with the Forex, Futures, Stocks, Bonds, and Options markets.)
Deposit and Withdrawal
The first deposit amount must be $15 or above. However, transfer processing times, methods, and associated fees are unknown.
How to open an account with the Bold Prime broker?
Follow these simple steps to open an account with Bold Prime:
- Visit the broker's website and click on the “Open an Account” button.
- A new page will open where you need to fill in your personal details like name, email, phone number, etc.
- Choose the account type that you want to open from the available options.
- Fill in the required information and submit the form.
- Once your account is approved, you will receive an email with your login details.
- You can then deposit funds into your account and start trading.
Customer support at Bold Prime
You don't have to worry about the customer support offered by Bold Prime because it is available 24/7, and you can contact the customer support team through live chat and email. You can contact them at support@boldprime.com throughout the week.
Research tools you get at Bold Prime
Bold Prime offers you a few important research tools that can be helpful in your trading. These research tools are:
Demo account
A demo account is an account where the trader uses virtual money to practice trading. It is a valuable tool for novice traders as it helps them learn about the market and develop their trading strategies.
MT4 and MT5
Bold Prime offers you the popular MT4 and MT5 trading platforms. These platforms are user-friendly and provide a wide range of features that can be helpful in your trading.
Educational content available at Bold Prime
The broker offers educational content like webinars covering various topics related to forex trading. You can learn about different trading strategies, risk management, and psychological aspects of trading through these webinars.
Conclusions
Bold Prime is a good forex broker that offers several account types, leverage up to 1:2000, and micro lot trading. They're yet to receive their regulatory license, but they have an offline license. Overall, it's a good and secure broker to begin your trading journey.
FAQ
What is the minimum deposit required to open a trading account with Bold Prime?
The minimum deposit required to open a trading account with Bold Prime is $15, and for a Prime Platinum account, the minimum deposit is $400.
What are the leverage options offered by Bold Prime?
The leverage options offered by Bold Prime are from 1:300, which goes up to 1:2000.
What are the spreads offered by Bold Prime?
Bold Prime offers spreads from 0.1 pips.
Is Bold Prime a regulated broker?
No, Bold Prime is not a regulated broker yet. They do have an offline license, though.
Does Bold Prime offer educational content?
Yes, Bold Prime offers webinars on various topics related to forex trading.
What's the average duration for deposit and withdrawal at Bold Prime?
The average duration for deposit is 1-2 days, and withdrawal takes around 2-5 days.
