Bold Prime Forex Review

Read our full Bold Prime review to get exact details about their safety, accounts, spreads, platforms, assets, support, and many more. Our unbiased Bold Prime opinion allows our readers to decide whether Bold Prime is a reliable broker.

Bold Prime Forex Broker History

Bold Prime has bold claims when it comes to its regulations, but the reality is different. The broker has been around since 2020, which makes it relatively experienced in the brokerage sector. However, it only focuses on FX pairs and stocks as CFDs and its regulatory oversight is limited. The broker was unsuccessful in acquiring any other licenses as well despite years of experience in its industry.

Bold Prime broker safety

The broker boldly claims to be regulated by the ASIC of Australia when in reality it is merely registered as an Authorized Representative with AFS and does not directly hold the ASIC license. While this is surely better than being completely unregulated, the broker has a history of operating in several jurisdictions without a license which was met with warnings. Traders should be very cautious with brokers that claim to be regulated when they are not properly licensed.

Bold Prime Broker Review of Accounts

Bold Prime provides a wide choice of different accounts as there are MT4 Prime ECN, MT4 Prime Standard, MT5 Prime ECN, and MT5 Prime Standard accounts. The accounts are divided according to the trading platform and offer slightly different conditions. For example, MT4 ECN is slightly different from MT5 ECN accounts. Let’s briefly list the main specs for each account to see a clearer picture and define whether the broker’s offerings are competitive or not.

The Bold Prime MT4 Prime ECN trading accounts come with the following specs:

• Minimum deposit – 150 USD
• Maximum leverage – 1:500
• Spreads from – 0.0 pips
• Commissions – Unknown
• Minimum lot size – 0.01 lots
• Trading platform – Only MetaTrader 4 (MT4)

The Bold Prime Standard trading accounts offer the following:

• Minimum deposit – 15 USD
• Maximum leverage – 1:2000
• Spreads from – From 1.5 pips
• Commissions – 0 USD
• Minimum lot size – 0.01 lots
• Trading platform – only MT4

The Bold Prime MT5 Prime ECN account offers the following trading specs:

• Minimum deposit – 150 USD
• Maximum leverage – 1:500
• Spreads from – 0.0 pips
• Commissions – Unknown
• Minimum lot size – 0.01 lots
• Trading platform – MetaTradr 5

The Bold Prime MT5 Prime Standard Account has the following specs:

• Minimum deposit – 50 USD
• Maximum leverage – 1:1000
• Spreads from – 1.5 pips
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

• Trading platform – MetaTradr 5

As we can see, trading accounts are expensive for standard ones with 1.5 pips which is higher than the industry standard of 1 pip. The ECN accounts offer 0 pips spreads but the broker does not disclose the exact commissions, which is disadvantageous. Lack of transparency only indicates that the broker charges expensive omissions for those 0 pips spreads.

Bold Prime instruments

The broker focuses primarily on the foreign exchange market as it provides access to major pairs, minors, and exotics. There are no other assets provided except for CFD stocks. The lack of gold and bitcoin are surely the biggest disadvantages of this broker. The leverage of up to 1:2000 on a trading account that only requires a 15 USD deposit almost guarantees beginners blow up their accounts, which is never a good thing.

Bold Prime Reviews of Trading Platforms

Bold Prime offers two of the most popular advanced trading platforms MT4 and MT5. It allows traders to use custom indicators and EAs. Mobile trading is available on iOS and Android using MT4 and MT5 mobile apps, which is flexible. These platforms provide all the tools necessary including automated copy trading features.

Bold Prime Forex Review of Extra Features

Bold Prime Broker offers educational resources with quizzes and a reward system. There is also a live webinar available where traders can register and learn trading. Apart from copy trading, there are no other features offered.

Bold Prime Reviews of Customer Support

Customer support at Bold Prime is provided via several options like live chat, email, and phone support. The live chat plugin is built inside the website and offers immediate assistance. It also lists the addresses of its branches. The broker does not provide multilingual support and a website, which is a drawback.

Bold Prime Deposit and Withdrawal

Deposits and withdrawals are offered via several funding methods. However, the broker offers very limited details on its website as there is no dedicated button for payments. Supported payment methods include credit/debit cards (Visa and Mastercard), bank wire transfers, and e-wallets such as Skrill and Neteller. The broker promises instant processing on deposits while withdrawals require 1-5 business days, which is very long.

Bold Prime Review Conclusion – can you trust Bold Prime?

The broker offers a wide range of accounts, advanced platforms, and quick deposits. However, it has expensive commissions and spreads, is not properly regulated, and lacks overall transparency, which cannot be tolerated. Its educational resources only include articles and webinars, and the broker lacks access to a wide range of markets as it only offers FX pairs and stocks in the form of CFDs.

Overall, we advise traders not to trust unregulated brokers and to stay vigilant to avoid scams and frauds.

FAQs on Bold Prime

Is Bold Prime a scam?

The Bold Prime scam is highly likely as the broker is not regulated properly and operates with a shell of companies.

What is the Bold Prime minimum deposit?

The minimum deposit at Bold Prime starts from 15 USD on its MT4 Prime Standard trading account, which is very low.

Is Bold Prime a cheap broker?

No, the broker has high spreads and commissions, which makes it an expensive broker to trade CFDs.