BP PRIME Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-17 12:26

Abstract：BP Prime is the trading name of Black Pearl Securities Limited, a brokerage company who was established in 2013 and deals in forex, commodities and indices tradings for both retail and professional clients. The minimum deposit requirement is pretty high from $5,000 or equivalent. A demo account and the availability of MT5 platform enhances customer experiences. While for institutional clients, the broker offers bespoke liquidity and technology solutions as well.

BP Prime Review Summary
Founded	2013
Registered Country/Region	United Kingdom
Regulation	Regulated by FCA
Market Instruments	Forex, commodities, indices
Demo Account	✅
EUR/USD Spread	/
Leverage	Up to 1:30 (Standard account)
Trading Platform	MT5
Min Deposit	$5,000 or equivalent
Customer Support	Inquiry form
	Tel: +44 (0) 20 3745 7101
	Email: support@bpprime.com
	Address: 28 King Street London EC2V 8EH United Kingdom
Restricted Areas	United States, Canada, France, Afghanistan, Belgium, Guinea Bissau, Iran, Israel, Libya, North Korea, Russia, Somalia, South Sudan, Syria, Turkey and Yemen

BP Prime Information

　　BP Prime is the trading name of Black Pearl Securities Limited, a brokerage company who was established in 2013 and deals in forex, commodities and indices tradings for both retail and professional clients. The minimum deposit requirement is pretty high from $5,000 or equivalent. A demo account and the availability of MT5 platform enhances customer experiences. While for institutional clients, the broker offers bespoke liquidity and technology solutions as well.

　　Furthermore, the broker currently operates under decent regulation from FCA, which to some extent guarantees customer protection and compliance to industry standard set by the institution.

　　Nevertheless, there are 5 pieces of WikiFX exposure to withdrawal issues, which indicates the necessity of service improvements of this broker. You should pay attention to this.

Pros and Cons

Pros	Cons
FCA regulated	Limited trading asset classes
Demo accounts	High minimum deposit
Commission-free accounts offered	WikiFX exposures
MT5 platform	No services in several countries

Is BP Prime Legit?

　　BP Prime is currently regulated by FCA (Financial Conduct Authority) in United Kingdom, with a license numbering at 688456, which guarantees legitimacy and credibility in a certain level.

Regulated Country	Regulator	Current Status	Regulated Entity	License Type	License No.
	FCA	Regulated	Black Pearl Securities Limited	Straight Through Processing (STP)	688456

What Can I Trade on BP Prime?

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
Stocks	❌
Cryptocurrencies	❌
Bonds	❌
Options	❌
ETFs	❌

　　BP Prime offers trading services in forex, commodities and indices for both retail and professional clients. While for institutional clients, customized liquidity and technology solutions are available to help companies to grow and develop their business scope and scale.

Account Type/Fees

　　BP Prime offers demo accounts for clients to practice and test trading strategies.

　　While for live accounts, the broker offers a Standard accountfor retail clients with a high minimum deposit of $5,000 or equivalent. In this account, the broker charges no commissions for trading, and claims competitive spread, but with no details.

　　Professional clients, on the other hand, are provided with a Professional account with higher leverage but less protection. To be eligible to open a professional account, you need to place 10 relavant trades of a significant size per quarter in last year, own a financial instrument portfolio exceeding $500,000, and have worked in the financial sector for at least one year.

Leverage

　　BP Prime offersa leverage level of up to 1:30 for some currency pairs in the Standard account, which means you can control a larger position of 30 times of your initial deposit.

　　Professional accounts have higher leverage, but are not currently disclosed per the broker's website. You need to check with the company directly to get precise information.

　　Moreover, you should always be very prudent to use such tool since leverage not only amplify profits, but losses will be augmented at same level as well.

Trading Platform

　　Victory indicates the use of the industry-leading MetaTrader 5 platform through web, which allows you to trade anywhere on the go.

　　The MT5 platform is renowned and recognized worldwidely for their advanced charting tools and robust functionalitiess such automated transaction execution.