BP Prime does not offer a Sign-Up bonus also known as a welcome bonus to new clients who choose to register for a real account but does offer a demo account to a new trader
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 Sign up bonus – 7 key points quick overview:
BP Prime at a glance- BP Prime Overview
- BP Prime Referral Bonus
- BP Prime Additional broker bonuses, promotions, and rewards
- BP Prime Pros and Cons
- BP Prime Conclusion
- Frequently Asked Questions
BP Prime Overview
BP Prime does not offer a welcome bonus to new traders who choose to register for a real account with the broker.
This is specifically because the broker is regulated by the Financial Conduct Authority (FCA) in the UK.
The Financial Conduct Authority placed a wide-reaching ban on the offering of broker bonuses as a means of extending client protection measures and guarding beginner traders against incurring losses due to overtrading.
As a general explanation, a bonus can be best understood as a way of compensating traders for having decided to open an account with a chosen broker.
Once an account has been opened with a Forex broker, clients will have access to trading of currency pairs, and will therefore have to incur some expense for this trading. The bonus is just a way for the broker to reward the trader’s choice and give all or some of these expenses back to the trader.
New traders should note however that bonuses are not available on demo accounts, though many brokers do offer the opportunity to sign up for a free demo contest, with prizes available.
BP Prime Referral Bonus
Referral bonuses allow existing traders of a given broker to earn greater rewards through referring a friend to a broker. The trader is compensated by the broker when this referral results in the friend signing up for a real account.
However, BP Prime does not offer a referral bonus at this stage, as well as any other type of partnership program for White Label clients or Introducing Brokers.
BP Prime Additional broker bonuses, promotions, and rewards
BP Prime is well-regulated by the Financial Conduct Authority (FCA), which restricts the broker from offering any additional broker bonus programs or rewards to its loyal customers. This includes the offering of trading bonuses, deposit bonuses, and no deposit bonuses.
While many traders actively seek out brokers who offer bonuses, European and UK regulators such as the FCA have chosen to restrict the offering of bonuses to prevent traders from incurring severe losses, particularly from the dangers of overtrading.
This is particularly true for beginner traders. These regulators advise member brokers to rather incentivize new traders through the offering of competitive trading conditions, such as through low commissions and tight spreads.
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 not offer a Sign-Up bonus also known as a welcome bonus to new clients who choose to register for a real account but does offer a demo account to a new trader
BP Prime is well-regulated by the Financial Conduct Authority in the United Kingdom to offer a secure trading environment. However, this same regulation prevents the broker from offering bonuses to either its new or existing clients.
Traders seeking out brokers who specifically provide bonuses should look outside of the regulatory jurisdiction of the UK and the European Economic Area, where the offering of such bonuses has been wholly restricted as part of extended client protection measures.
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Frequently Asked Questions
Can traders from South Africa sign up with BP Prime?
Yes, traders who are based in South Africa can sign-up for a trading account with BP Prime.
What type of broker is BP Prime?
BP Prime is a NDD (non-dealing desk) forex broker.
Does BP Prime offer any type of bonuses?
No, as per the FCA restrictions that prohibits the use of rewarding new trading clients with bonuses, BP Prime does not offer any type of bonus.
Does BP Prime offer a loyalty program to traders?
No, our review did not reveal a loyalty program offering from BP Prime.
Are there any disadvantages when trading with BP Prime?
The minimum deposit requirement of $5000 is a drawback. The broker also does not allow clients from the US to sign up with them, there is no choice of platforms and stock equities are not offered.
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