BP Prime does offer a free demo trading account for beginners to start training on. Practice forex trading in a 100% risk-free environment. The demo account expires after a certain amount of days and account holders can request that BP Prime assists in changing the Demo Account into a live trading account.
BP Prime at a glance
| Broker's Name | BP Prime |
| 🏛️ Headquartered | London |
| 📅 Year Founded | 2010 |
| ⚖️ Regulating Authorities | FCA |
| ⏳ FCA | 688456 |
| 🌐 Countries not accepted for trade | United States, Canada, France, Afghanistan, Belgium, Guinea-Bissau, Iran, Iceland, Libya, Korea, Somalia, Sudan, Syria, Yemen |
| ☪️ Islamic account (swap-free) | No |
| 📎Sign up Bonus | No |
| 👍 Demo Account | Yes |
| 📌 Account types | Pro Account / The Prime Account |
| 📎 Commission | Commission depending on trading volumes |
| 📎 Spreads | From 0.6 |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:30 (1:200 on request for professionals) |
| 💰 Minimum Deposit | $5000 (R 80 000 USD/ZAR at the time of writing) |
| 💳 Deposit Options | Credit and debit cards Bank wire transfers Local bank transfers Neteller Skrill |
| 💳 Withdrawal Options | Credit and debit cards, Bank wire transfers ,Local bank transfers, Neteller, Skrill |
| 💻 Platform Types | MetaTrader 4 |
| 📱 OS Compatibility | Windows, Mobile, Web, iPhone, iPad PC and Mac OS, mobile for Android and IOS |
| 📈 Tradable assets offered | Currency pairs, indices, commodities, and cryptocurrencies |
| 👨💼 Languages supported on Website | English, Italian, Japanese, or Spanish |
| 👥 Customer Support Languages | English, Italian, Japanese, or Spanish |
| 📆 Customer Service Hours | 24/5 |
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 Demo account – 7 key points quick overview:
BP Prime at a glance- BP Prime Overview
- How to set up a BP Prime Demo Account – Step by Step
- BP Prime Demo Account Features
- BP Prime Pros and Cons
- BP Prime Conclusion
- Frequently Asked Questions
BP Prime Overview
A forex demo account is also referred to as a practice account, which is used for practicing trading or to test a new trading strategy without any risk to actual money.
A forex demo account is also intended for beginners to get familiar with the various aspects of trading.
As such, a demo account will allow traders to learn how to place orders, and manage existing trade positions as well as more advanced functions such as testing or fine-tuning a trading strategy.
If you are new to trading, then it is highly recommended that you first open a forex demo account until you are comfortable with both your trading strategy as well as the intended trading platform itself.
How to set up a BP Prime Demo Account – Step by Step
1. Step 1 – Register an account
Make your way to the BP Prime website and select the Demo account option
2. Step 2 – Complete information
Complete all personal information requested
BP Prime Demo Account Features
The demo account from BP Prime is funded with 10 000 units of the base currency (USD, in this case), allowing traders to practice without risking any of their own funds.
Demo account users will also be granted access to the MetaTrader 4 platform, giving 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.
BP Prime Pros and Cons
| ✔️ Pros | ❌ Cons |
| MetaTrader4 Platform | Only one trading platform available |
| Tight spreads | Not available to residents of certain jurisdictions due to legal restrictions |
| No commissions on certain accounts | Lack of research tools |
| Selection of trading accounts | Bonus not offered |
| Access to a variety of trading instruments | Refer a friend promotion not offered |
| Well-regulated broker | Account can only be funded in USD |
| Demo account gives access to the MetaTrader 4 platform | Demo account only available for 30 days |
| Easy demo account registration process | Demo does not apply to all account types |
| Commission free trading available | Extremely high minimum deposit |
| Good range of tradable assets | Limited trading platforms available |
| Ultra-fast execution | Low leverage for retail clients |
| Withdrawal fees charged to EU traders |
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 Conclusion
BP Prime does offer a free demo trading account for beginners to start training on. Practice forex trading in a 100% risk-free environment. The demo account expires after a certain amount of days and account holders can request that BP Prime assists in changing the Demo Account into a live trading account.
Frequently Asked Questions
Does BP Prime accept traders from South Africa?
Yes, traders from South Africa are accepted to trade with BP Prime.
What are the advantages of trading with BP Prime?
BP Prime offers traders the very popular MetaTrader4 trading platform with fast execution and a mobile app solution. Traders benefit from a wide selection of trading instruments across various asset classes including cryptocurrency trading, no inactivity fee and zero broker commissions.
Does BP Prime offer a demo account?
Yes, BP Prime offers a free demo account to all new traders.
What are the trading hours for currency pairs with BP Prime?
The hours for trading currencies with this broker isSunday at 21:00 to Friday at 21:00 UK time
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