BP Prime Account Types

BP Prime provides 2 account types to select from, Pro account & Prime account. The demo account is also offered but not an Islamic account. The minimum deposit amount of $5000 USD / R 80000 ZAR, leverage up to 1:30 and from 0.1 minimum spread Eur/USD

Overall Rating

• 4.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 5000

Regulators

FCA

Trading Platform

MT4

Crypto

Yes

Total Pairs

40+

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

BP Prime Account Types  – 9  key points quick overview:

1. BP Prime Overview
2. BP Prime Account Types
3. BP Prime Account Features
4. BP Prime at a glance
5. BP Prime Demo Account
6. BP Prime Islamic Account
7. BP Prime Pros and Cons
8. BP Prime Conclusion
9. Frequently Asked Questions

BP Prime Overview

BP Prime is a London-based broker that was founded in 2013. The broker is extremely well-regulated by the Financial Conduct Authority (FCA) and offers prime brokerage services that are best suited for experienced and professional traders.

Traders will have access to Forex, commodities, and indices trading. Forex traders can choose between a range of currency pairs to trade from including majors, minors, and exotics/emerging.

The broker offers indices CFDs via FIX API to its professional and institutional clients. All prices for institutional clients are negotiable and dependent on volumes.

In terms of commodities, the categories cover energy, agriculture, and metals products. These products are traded in spot prices, forwards, and futures markets, they acquire their value from demand and supply characteristics.

All the above assets can be traded on the industry-leading MetaTrader 4 platform. MT4 from BP Prime is a perfectly equipped platform that gives traders access to CFDs on forex, commodities, and cryptos.

It provides the necessary tools and resources for you to make the most of your trading journey.

Users can automate their trading with custom Expert Advisors and take advantage of sudden market movements instantly.

With MT4, you can also build a system around your trading strategy, including instant execution, stop orders, and trailing stop functionalities.

BP Prime offers three account types that cater strongly to the experienced and professional market. That said, the broker’s Standard Account is a good option for retail traders, while beginner traders will enjoy the broker’s educational offering.

This consists of a dedicated Education Hub for which users can register to upcoming webinar seminars for free.

BP Prime also provides independent analytical tools outside of those built into the MetaTrader 4 platform. These consist of articles and analyses and each section hosts a collection of articles to assist traders of various professional levels.

BP Prime operates on a Straight Through Processing model. This allows for direct market access to ensure the best pricing on the market, with no interference on behalf of the broker.

All traders with BP Prime will benefit from a secure trading environment thanks to its regulation by the Financial Conduct Authority (FCA).

Under the stipulations of this organization, BP Prime stores all client funds in segregated accounts and participates in a compensation scheme that covers traders in the event of broker insolvency.

BP Prime has a good standing in the industry with positive customer feedback, which highlights in particular the broker’s strong customer support and professional setup.

Spreads are competitive and leverage is in line with regulatory requirements. There are no additional trading fees, and all pricing remains transparent with BP Prime.

While some professional traders may find the offering of one trading platform limited, the STP model allows for a highly competitive trading environment and the provision of additional analytical features creates feature-rich trading conditions.

BP Prime connects its clients to top-tier liquidity providers and market-leading aggregation and processing technology – offering best-in-class service, insight, and execution.

BP Prime works as an expert intermediary for its private, professional, and institutional clients and the liquidity providers who buy and sell.

BP Prime’s deep relationships with both technology companies and liquidity providers mean that the broker can offer tight spreads, market depth and speed of execution at competitive pricing.

As a fully licensed company that is fully authorized and regulated by the Financial Conduct Authority, its clients can be confident that their capital is secure.

BP Prime Account Types

BP Prime offers traders a selection of three account types. These consist of the Standard Account, Prime Account, and the Pro Account.

BP Prime also offers a free demo account which will allow prospective traders to test out the features and conditions before deciding to sign up for a real account.

BP Prime Account Features

Prime Account

The Prime Account also provides access to all instruments with spreads that start at 0.6 pips, commission-free trading, multiple charts, and retail leverage of 1:30 available.

Pro Account

The Pro Account is available at a minimum deposit of $10 000 (R139590.20 USD/ZAR at the time of writing) and is designed with high net-worth, professional traders in mind.

Users of the Pro Account have access to ultra-fast execution via the XCORE Aggregator, low spreads of 0.1 pips, and leverage of up to 1:200 on request.

To be eligible for a Pro Account, applicants must have fulfilled the following criteria:

• Have placed 10 relevant trades of a significant size per quarter in the last year
• Have a financial instrument portfolio exceeding €500,000
• Have worked in the financial sector for at least one year

BP Prime at a glance

BP Prime Demo Account

The demo account provided by BP Prime is filled with 10 000 units of the base currency), allowing traders to practice without risking any of their own funds.

Demo account users will also be granted access to the MetaTrader 4 platform, granting them the opportunity to test out the various trade features supplied by the platform within the context of the broker’s unique trading conditions.

The demo account is valid for 30 days. After this period, traders can convert their demo into a real account. If they are not yet ready to open a live account, they will have to apply for a new demo account.

To open a demo account is an easy and streamlined process that will consist of the following steps:

• Go to the demo application page on the BP Prime website
• Fill out the easy online registration form with your personal details. These will include your name, spoken language, and email address
• Specify which country you reside in
• Select your preferred account type. Traders can choose between the Pro and Prime account options. Both can only be funded in USD

BP Prime Islamic Account

Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.

With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide.

Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.

Unfortunately, BP Prime does not offer an Islamic Account to traders of the Muslim faith.

Overall Rating

• 4.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 5000

Regulators

FCA

Trading Platform

MT4

Crypto

Yes

Total Pairs

40+

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

BP Prime Pros and Cons

BP Prime Conclusion

BP Prime provides 2 account types to select from, Pro account & Prime account. The demo account is also offered but not an Islamic account. The minimum deposit amount of $5000 USD / R 80000 ZAR, leverage up to 1:30 and from 0.1 minimum spread Eur/USD

You might also like: BP Prime Review

You might also like: BP Prime Demo Account – Step by Step

You might also like: BP Prime Fees and Spreads

You might also like: BP Prime Minimum Deposit

You might also like: BP Prime Sign up Bonus

Frequently Asked Questions

How many instruments can I trade with BP Prime?

Traders have access to diversified assets and a wide range of tradable instruments with a BP Prime account incl: Major, minor, and emerging currency pairs, 10 well-known Indices including the FTSE 100, commodities such as gold, silver, and oil, plus 4 popular crypto coins, including Bitcoin and Ethereum.

Does BP Prime offer leverage?

Yes. BP Prime offers maximum leverage of 1:30 to standard retail traders. This is in line with regulations regarding leverage from the Financial Conduct Authority (FCA).

What spreads can I expect with BP Prime?

Spreads start from 1.4 pips in the Standard account and 0.6 pips for the Pro account.

Are there additional charges on the Islamic account?

BP Prime does not offer an Islamic Account.

Does BP Prime allow hedging and scalping?

Yes, hedging and scalping is allowed by this broker.