BP Prime Forex Broker

BP Prime Review SummaryFounded2013Registered Country/RegionUnited KingdomRegulationRegulated by FCAMarket InstrumentsForex, commodities, indicesDemo Account✅EUR/USD Spread/LeverageUp to 1:30 (Standard account)Trading PlatformMT5Min Deposit$5,000 or equivalentCustomer SupportInquiry formTel: +44 (0) 20 3745 7101Email: support@bpprime.comAddress: 28 King Street London EC2V 8EH United KingdomRestricted AreasUnited States, Canada, France, Afghanistan, Belgium, Guinea Bissau, Iran, Israel, Libya, North Korea, Russia, Somalia, South Sudan, Syria, Turkey and YemenBP 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 ConsPros Cons FCA regulatedLimited trading asset classesDemo accountsHigh minimum depositCommission-free accounts offeredWikiFX exposuresMT5 platformNo services in several countriesIs 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 CountryRegulatorCurrent StatusRegulated EntityLicense TypeLicense No.FCARegulatedBlack Pearl Securities LimitedStraight Through Processing (STP)688456What 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.Trading PlatformSupported Available Devices Suitable forMT5✔Web, mobileExperienced tradersMT4❌Web, mobileBeginners