BP Prime Review: Fast Order Execution and Reliable Customer Support
BP Prime broker is present in the market for 10 years. With such experience, they should offer a bit more on their website.
Nevertheless, traders keep investing there despite all their flaws. What are the advantages and disadvantages of investing here, we are revealing in this unbiased BP Prime review.
BP Prime Highlights
BP Prime is operating under the ownership of Black Pearl Securities Limited. The company is registered in the UK. London, to be precise.
With registration in such a regulated country, we should expect a lot from this company. However, they don’t reveal as much as traders might expect.
| BP Prime | Reliable Broker Must Have | |
| Legal name: | Black Pearl Securities Limited | Transparently displayed in the disclaimer or legal documents |
| Regulation: | FCA | Within your legal jurisdiction – local regulator |
| Registered in: | United Kingdom | Your country or the country whose license applies in your legal jurisdiction |
| Established: | 2013 | The older the domain – the higher the possibility the company is trustworthy |
| Website: | Bpprime.com | Domain should be from local or international zones, no .xyz etc. |
| Financial Authorities Warnings: | N/A | None |
| Contacts: | Phone: +44 (0)20 3745 7101 E-mail: [email protected] Live chat |
Phone, email, social media, web form |
| If a withdrawal is possible: | Yes | Yes |
| Fees: | Spreads from 0.1 pips | Transparent fees – list of spread and commissions |
| If Active on Social Media: | Yes – LinkedIn | Often present on social media |
| Investor Protection: | Yes – Segregated bank accounts for deposits and compensation fund | Compensation fund |
Regulation info
BP Prime Ltd is registered and licensed by the Financial Conduct Authority (FCA). With this in mind, you can be assured about the security provided by the broker. However, the broker doesn’t mention negative balance protection. Even though, they have segregated bank accounts for clients’ deposits. But also compensation funds in case of insolvency.
On the other hand, they don’t have licenses in other countries where they operate. Such as:
- Australia
- United States
- India
- Italy
- UK
At least they could get ASIC (Australia) or CFTC (United States) licenses for more comfort for those traders.
BP Prime Profile
With quite poor information about account types and software, you can find very little information on the website. In general, looks like broker offers trusted third-party software. Yet, there is no button leading to download it.
Also, comparably with other Tier 1 licensed brokers, tradeable instruments offer is quite poor. The main benefit of BP Prime forex broker is low trading fees.
| Trading platforms: | MT4 |
| Account types: | Standard, Professional |
| Financial Instruments On Offer: |
|
| Maximum leverage: | 1:30 |
| Minimum Deposit: | $5.000 |
| Commissions/bonuses: | Zero commission / no bonuses |
| Mobile app: | Yes |
| Desktop app: | Yes |
| Autotrading: | Yes |
| Demo account: | Available |
| Education or Extra tools: | N/A |
BP Prime Trading Instruments
Tradeable assets with BP Prime are quite narrow. You can only trade within 3 categories. Whilst some other Tier 1 licensed brokers offer even 8 different instrument classes.
In this case, you can trade Forex pairs, indices and commodities. Important to realize is that the BP Prime app is missing crypto and stocks as the most popular assets.
BP Prime Offered Account Types
Account types and trading conditions play a key role in choosing a broker. In general, the BP Prime offer is straightforward. All retail traders get the same conditions.
However, if you qualify for a Pro account you can enjoy some other benefits. Meanwhile, you can test out the broker through a demo account and see if their services are fast and reliable as they claim.
The Pro Account
Pro Account generally means higher leverage. In this case, trading conditions for a pro account are not revealed. Which is quite strange for such a licensed broker.
Anyway, to get the Pro account you have to place 10 relevant trades in the past year. But also to have a portfolio value higher than 500.000 EUR.
The Prime Account
The prime or standard account is the only option for retail traders. With leverage, according to regulation up to 1:30, you are in the safe zone. The broker claims not to have any hidden commissions or fees.
On the positive side, you can trader micro lots and also have direct market execution. However, with such a poor instrument offer and presentation experienced traders might skip this broker.
BP Prime Demo Account
Another key point is the availability of a BP Prime demo account. At least, according to the broker’s presentation. Yet, to get access you have to complete full registration first.
Deposits and Withdrawal Methods
It’s not reasonable for such a licensed broker to have very few information about funding methods. You can only get access to those after completing the registration.
Therefore, you can choose between debit and credit cards, wire transfers, Skrill and Neteller. There are no withdrawal fees except for bank transfers. But only after the first withdrawal, there is a 25 EUR withdrawal fee. Important to realize is that BP Prime minimum deposit is $5.000.
BP Prime Bonuses And Promotions
Considering the company’s strict regulations you can’t expect them to provide bonuses. Indeed, they don’t. Also, there are no promotional offers or partnership programs available with this company.
BP Prime Trading Platforms
The company did its due diligence and decided to provide the most reliable trading software. It allows traders to have direct market execution with high-speed executions.
But if you check any other Tier 1 licensed broker you will discover many other options. We suggest you to check our Blueberry Markets, Trade Republic and VARIANSE reviews for more investment opportunities. Knowing what other brokers offer may save you a ton of money.
Meta Trader 4
Meta Trader 4 is the leader in the market for decades. With a reliable and stable platform, available across all devices it became the most popular one. Also, traders can use multiple advanced features.
Such as advanced indicators and customization options, Expert Advisors and many more. Yet, there is no social or copy trading available with BP Prime. Also, there is no download option on the website.
Customer Support
Customer support is available via phone and e-mail. But also live chat on the company website. Thus, they don’t reveal any working hours.
Having in mind that they are FCA-regulated broker, this is quite low transparency. This might raise some comfort issues among experienced traders.
BP Prime Pros and Cons
The main advantage of BP Prime broker is their trusted regulation and funds protection features. Also, we can sort the availability of MT4 in that group as well. However, the broker is quite conservative and doesn’t provide much information about its services.
Starting with working hours, funds protection features, precise and transparent trading conditions. Also, important to realize is that the company doesn’t have many reviews available online. Is there something hidden or just a glitch, it’s up to you to summarize and decide.
Conclusion About BP Prime Broker Offer
Generally speaking, the only thing that might attract traders to sign up here is the regulation. However, they don’t have any other regulation besides the FCA. So, if you are coming from Australia or the United States you might check with domestic regulators about the company.
Since that is often a very long process and exhausting, we suggest you talk with our experts. Tailored by your needs and preferences we can give you a list of most trusted brokers. Have in mind that consultation doesn’t cost you anything. Everyone is looking for a reliable broker on their side. Book your consultation now and find yours already today!
FAQs
Is BP Prime a legit broker?
To sum it up, yes. The company has a highly trusted FCA license. However, there are many flaws in the company with transparency and available instrument offer.
What is the minimum Deposit With BP Prime?
The minimum deposit is quite high considering the industry average and starts at $5.000. Especially after checking the company website, you realize it’s too much.
Is BP Prime Good For Beginners?
To be honest, no. For someone learning how to trade it’s quite expensive to start with $5.000. Instead, you can open micro-accounts with other Tier 1 licensed brokers.
