Overall, BP Prime is a regulated and trusted broker. This includes over 50 inbuilt indicators, with spreads from 0.6 and commission depending on trading volumes. Leverage stretching up to 1:30 and a minimum deposit of $ 5000 USD / R 80 000 ZAR.
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 Review – 19 key points quick overview:
BP Prime at a glance- BP Prime Overview
- BP Prime, Safe or Scam?
- BP Prime Leverage
- BP Prime Accounts
- BP Prime Market Instruments
- BP Prime Fees
- BP Prime Deposit and Withdrawal
- BP Prime Trading Platforms
- How to open a BP Prime account
- BP Prime vs eToro vs IC Markets – A Comparison
- BP Prime Pros and Cons
- BP Prime Customer Support
- BP Prime Education
- BP Prime Research
- BP Prime Awards
- BP Prime Conclusion
- BP Prime Disclaimer
- Frequently Asked Questions
BP Prime Overview
The company is headquartered in London. It has operational offices in China and Italy, and its customer base ranges across Asia, Europe, and South America.
Unfortunately, due to legal restrictions, BP Prime does not offer its services to residents of France, Canada, the United States, Afghanistan, Belgium, Israel, North Korea, Yemen, Guinea Bissau, Libya, Somalia, Iran, South Sudan, and Syria.
BP Prime’s aim is to create a world-leading experience that retail and institutional customers can trust. Its values include dedicated customer support, competitive spreads and commission, Non-dealing desk services as well as ultra-fast execution, and low latency.
The company is known for connecting its traders to top-tier liquidity providers and advanced processing technology. This gives traders access to industry-leading insight, service, and execution.
BP Prime’s aggregated liquidity pools provide the best possible prices for traders, including any price improvements that may occur during execution on its MetaTrader4 trading platform or via FIX API.
By continuously enhancing its execution speed to ensure a more efficient trading experience, customers have more trading opportunities, which can result in maximized funds.
The company has its own cages inside the world’s leading data centers – New York (NY4), London (LD4), and Tokyo (TY3).
These low-latency FX connectivity hubs grants access to liquidity providers with direct copper and fiber connections, allowing customers to execute orders at sub-millisecond speeds.
BP Prime, Safe or Scam?
BP Prime is a trading name of Black Pearl Securities Limited. Black Pearl Securities Limited is authorized and regulated by the Financial Conduct Authority, Financial Services Register Number 688456.
As a regulated company, BP Prime follows strict rules such as audits and fund protection.
Customer funds are kept in segregated bank accounts. In the unlikely event of the company not being able to fulfill its financial obligations, customer funds cannot be used for any company purposes.
Funds are also protected by the Financial Services Compensation Scheme (FSCS). This, along with the segregated bank accounts, are both great assurances for traders that the company acts in their best interest and is not a scam.
BP Prime Leverage
BP Prime offers leverage of up to 1:30 to its retail traders. The company complies with CFD trading regulations and offers leverage ratios accordingly. It also complies with European Securities and Markets Authority regulations regarding leverage ratios.
BP Prime Accounts
| 💠Feature | 📈 Pro Account | 📈 Prime Account |
| 💵 Minimum Deposit | $ 5000 USD / R 80 000 ZAR | $ 10 000 USD / R 160 000 ZAR |
| 📌 Description | The Pro Account allows our clients to trade all instruments. | The Prime Account allows our clients to trade on a raw feed and pay commissions outside the spread. |
| 💰 Spreads | From 0.6 | From 0.1 |
| 📊 Leverage | Retail clients up to 1:30* | Retail clients up to 1:30* |
| 📌 Commission | $ 0 commission | Commission depending on trading volumes |
Pro Account
This account gives customers access to all trading instruments and is a good choice for traders of average experience. The Pro account offers tighter spreads than the Standard account.
Features and advantages:
- Currencies include: USD, GBP, and EUR
- Minimum deposit: 5 000 USD/GBP/EUR
- Execution: STP/DMA Ultra-Fast Execution
- Lot size: From 0.01 lots
- Trading styles: One-click trading and trading from charts allowed
Prime Account
The Prime account allows customers to trade on a raw feed. Commissions are paid outside the spread. This account is for serious, experienced traders.
Features and advantages:
- Currencies include: USD, GBP, and EUR
- Minimum deposit: 10 000 USD/GBP/EUR
- Execution: Ultra-fast execution via XCORE Aggregator
- Lot size: From 0.01 lots
- Trading styles: One-click trading as well as trading from Charts allowed. Suitable for high volume and Algo traders
Professional Account
BP Prime offers Professional Client Trading for serious traders, allowing customers more control in the way they trade markets. Professional traders gain access to account features but lose certain investor protections.
The Financial Conduct Authority has stipulated certain criteria must be met to qualify as a professional trader. To gain professional status, customers need to offer proof of at least two of the following to qualify under the company’s strict guidelines:
- Proof that the customer has placed at least 10 relevant trades of a significant size per quarter during the past year
- A financial instrument portfolio exceeding €500 000
- At least one year of work experience in the financial sector
BP Prime also offers an option to open a free Demo account for potential traders who would like to gain the necessary knowledge in a risk-free environment and to experiment with different trading conditions.
The Demo account replicates real markets in a real trading environment.
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 Market Instruments
BP Prime offers a wide range of market instruments to ensure all customers with different trading styles has equal trading opportunities. The company’s flexible leverage ratios are a great opportunity for traders to take advantage of the markets.
Forex is one of the largest financial markets in the world. The company offers its customers more than 40 currency pairs to trade with. Majors, minors and exotic pairs are available.
With indices trading, professional and institutional customers can trade CFDs via FIX API. Customers should keep in mind that they’re trading on the performance of stocks by trading on the direction of price movements, without actually buying the asset.
Commodities trading gives customers access to several markets such as energy, metals, and agricultural products. These are traded at spot prices, forwards, and futures markets.
BP Prime also offers a selection of cryptocurrency trading options, which is a great way to expand a trader’s portfolio in one of the most dynamic markets in the world.
BP Prime Fees
BP Prime customers don’t have to worry about any unexpected fees or commissions.
Margin rates on major forex pairs for retail customers are 3.33% and 0.50% for professional customers. Margin rates on minor and exotic forex pairs are 5.00% for retail customers and stay on 0.50% for professionals.
Standard Account Fees:
- Spreads from 1.4 pips
- $0 Commission
Pro-Account Fees:
- Spreads from 0.6 pips
- $0 Commission
Prime Account Fees:
- Spreads from 0.1 pips
- Commission depending on trading volumes
BP Prime Deposit and Withdrawal
BP Prime traders can choose from a selection of deposit and withdrawal options. Funds can be deposited in any currency and be converted into the base currency automatically. The most popular deposit option is via credit/debit cards.
Credit and Debit Cards (Visa and MasterCard):
- Minimum Deposit: None
- Maximum Deposit: 10 000 units of currency (or 1 000,000 JPY or 100 000 HKD) per calendar month
- Average Processing Time: Immediate
- Fees: None
Please note credit card providers may charge transaction fees as well as international processing fees. Bank wires reflect within 3 to 5 business days.
Neteller and Wire Transfer options are also available, although the company does not specify fees, minimum or maximum deposits on these.
In order to withdraw funds, customers can log into the Members Safe Area, select Withdrawal, and send a request. Requests are processed within 24 hours during business days and may take 2 to 5 business days to reflect.
No third-party transfers are allowed. No dormant account fees are charged by the company.
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BP Prime Trading Platforms
BP Prime offers the reliable MetaTrader4 as a trading platform. This award-winning platform is one of the most popular forex trading platforms globally.
The MetaTrader4 platform can be opened directly from a browser on any device with an internet connection. Customers can build a system around their specific trading strategies. These can include stop orders, trading stop functionalities, and many more.
Features and benefits include:
- User friendly
- Fully customizable
- Tight spreads
- Market Execution
- Over 50 Currency Pairs to Trade
- One-click trading
- Access to a broad range of alternative asset classes
- Free daily and weekly market reports and videos
- More than 50 built-in indicators
- FX tools, real-time charts, and tutorials
- Full access to comprehensive market research
- Specialist analysis and economic calendars
- Available via desktop, Android, and iOS
- Trade on the go
How to open a BP Prime account
1. Step 1 – Register for an account
Make your way to BP Prime website and select to open an account.
2. Step 2 – Complete information
Complete all the personal information requested.
3. Step 3 – Verification process and trading
The KYC (Know your client) verification process is completed and trading can commence
As with a bank, to register a forex trading account with BP Prime for the first time, you will be required to go through a basic “know your customer” process.
BP Prime vs eToro vs IC Markets – A Comparison
| 🔎 Broker | 🥇 BP Prime | 🥉 eToro | 🥉 IC Markets |
| 📌 Headquarters | London | Cyprus, UK | Australia |
| 📌 Year Established | 2010 | 2007 | 2007 |
| 📌Minimum Deposit | $ 0 USD | $10 USD | $ 200 USD |
| 💻 Withdrawal Fees | Varies | yes | No |
| 💳 Platforms | MetaTrader 4 | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac |
| 💵 Major Forex pairs | Yes | Yes | Yes |
| 📌 Regulated by | FCA | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) |
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 |
BP Prime Customer Support
BP Prime customers can get instant help from multilingual professionals via the company’s live chat channel, request assistance via an online form, request a free call back, phone or email the company’s support team. Customers can also get assistance via social media.
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 Education
BP Prime offers free webinars and courses in multiple languages as educational resources.
Webinars are presented by professional analysts who help customers understand which drivers are moving the markets, identify which is the best possible trading routes to take with certain trading opportunities as well as other useful educational tips.
Educational courses such as accredited financial courses are offered. These are recognized globally and backed by the United Kingdom government.
With the company’s FAQs, traders can also find information on how to use the platform, how to go about depositing and withdrawing funds, fees and regulations.
BP Prime Research
Articles and analyses provide detailed articles on numerous topics. These help customers make informed trading decisions. Some of the discussed topics include closing prices, trailing stops, forex market volumes, and most traded forex currency pairs.
BP Prime Awards
In 2018, BP Prime was awarded the Le Fonti – Broker of the year (Forex and CFD Institutional) award. The award celebrates excellence, leadership qualities and corporate innovation.
BP Prime Conclusion
Overall, BP Prime is a regulated and trusted broker. This includes over 50 inbuilt indicators, with spreads from 0.6 and commission depending on trading volumes. Leverage stretching up to 1:30 and a minimum deposit of $ 5000 USD / R 80 000 ZAR.
With BP Prime, traders can be assured of high ethical standards and the protection of customer funds. It conducts business with integrity, intellect, customer satisfaction, and innovation.
This award-winning company offers private, professional and institutional customers a variety of instruments to trade with and several accounts to choose from.
Although the minimum deposit of $5 000 on the Standard and Pro accounts seems steep, there is a bit of confusion as the company states in its FAQs that the minimum deposit on its Standard account is $100 and $1 000 on its Pro account.
BP Prime’s deep relationships with liquidity providers and technology companies ensure traders are offered ultra-fast execution speed, tight spreads, and competitive prices.
Traders can rest assured that funds are protected as the company follows all rules and regulations of the Financial Conduct Authority, which is a great reassurance for potential traders.
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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 Disclaimer
CFDs are complex investment instruments and come with a high risk of rapidly losing money due to leverage. 64% of retail accounts lose money when trading CFDs with BP Prime.
You should carefully consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
BP Prime is prohibited under its FCA permissions from providing you with investment advice relating to investments or possible transactions in investments or from making investment recommendations of any kind.
They can give you factual market information or information in relation to a transaction about which you have enquired and they will inform you of the potential risks involved and how those risks may be minimized.
It is important that, should you proceed with entering into transactions with us, you continue to remain aware of the risks involved and seek your own independent advice.
If you are in any doubt you should seek professional advice as it is important that you fully understand the risks involved before making a decision to enter into a trading relationship with the company, according to research in South Africa.
Frequently Asked Questions
Is BP Prime regulated in South Africa?
Our search on the website of the FSCA did not affirm that BP Prime is regulated in South Africa. The regulatory authority for this broker is the FCA in the United Kingdom.
For which type of trader is BP Prime best suited?
Our BP Prime review reveals that it is best suited for professional traders.
What is the overall rating for BP Prime?
The overall rating for this broker is 8/10.
What trading platforms are supported by BP Prime.
BP Prime only supports the Metatrader4 platform.
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