BoldPrime is a regulated broker located in Australia. This is a newly found broker and has been doing well since it came into the picture. Although some have raised their concerns about the broker, others are praising it like no other. For more comprehensive information about the broker, go through the review our team has unbiasedly done.
|Broker’s Name||Bold Prime|
|Company Name||Bold Prime Limited|
|Trading Assets||Cryptocurrencies, Stocks, Forex, Commodities|
|Account Types||Standard, Prime Raw, Prime Platinum|
|Trading Platforms||MT4, MT5|
|Spreads and Commissions||0.0 pips, No Commissions|
|Deposits and Withdrawal||Bank Transfer, Credit/Debit Card, E-Wallets, Crypto|
What is BoldPrime?
Bold Prime is an online-based CFD brokerage company, established in 2020 and headquartered in Saint Vincent and the Grenadines, crafted by experienced traders to offer retail trading services to clients worldwide.
BoldPrime is the brand name of the group of companies:
BOLD PRIME(AU)PTY LTD: Australian Securities and Investments Commission (ASIC) under AFS Authorised Representative No. 001305306.
Address: BOLD PRIME(AUPTY LTD, 6C Barellan Ave, Carlingford, NSW 2118.
Bold Prime Ltd is incorporated in St. Vincent & the Grenadines as an International Business Company registered 26184 BC 2021.
Bold Prime Limited is authorised and regulated in The Autonomous Island of Anjouan, registered 31896.
Address: Hamchako, Matsamudu, Autonomous Island of Anjouan, Union of Comoros.
Though it claims to be a “multi-regulated company”, we highly doubt the existence of BoldPrime Ltd and BoldPrime Limited as they are situated offshore and in places where most companies are involved in fraudulent activities.
It is advisable for a trader to look for brokers like Metherworld, which are safe and give their services honestly and transparently.
Is BoldPrime a Scam?
BoldPrime is regulated by the Australian Securities and Investment Commission with licence number 01300520, a crucial factor that fosters trust and offers a means of ensuring oversight over the company. Essentially, these ASICs monitor the activities of Bold Prime and its associated entities within their respective operational jurisdictions.
This arrangement enhances the safety and reliability of the company, as it assures clients that regulatory authorities actively prevent brokers from engaging in fraudulent activities and other forms of malpractice.
Earlier, Bold Prime broker was regulated by the Financial Securities Commission as well, but currently, FSC lacks its existence from the broker’s website except for “A Member of The Financial Commission.”
Available Trading Assets at BoldPrime
Here are the available trading assets at BoldPrime:
CFD Foreign Exchange
- Access to a wide selection of more than 27 currency pairs for trading.
- They offer a competitive raw spread that can go as low as 0.0 pips.
- The company asserts a no-requote policy and aims to offer the most favourable prices without any restrictions.
- Clients can benefit from a maximum leverage of 2000:1 when trading with Bold Prime.
- It’s worth noting that the range of available currency pairs for trading may vary depending on the specific account type, with claims of over 300 to 450 currency pairs accessible, which will be further explored in a subsequent discussion.
- Leverage of up to 2000:1 and an ultra-low spread of 0.0 pips.
- Do not specify the exact instruments these features apply within the stocks category.
- Within this section, Bold Prime also asserts the availability of options, indices, and commodities for trading.
Nevertheless, the broker does not offer in-depth information or particulars about these asset options. Trading in a wide range of assets is what many trailers prefer; for that need of yours, you can go to Winsorfx.
Trading Platforms at BoldPrime
BoldPrime offers three types of advanced platforms to traders, that is, MetaTrader4, MetaTrader5, and CTrader.
- Top-tier spreads and the absence of commission charges in the market
- Leverage reaching up to 1:1000
- A minimum lot size of 0.01
- Versatile choices for depositing and withdrawing funds
- Absence of constraints on trading activities
- Rapid execution of orders, characterised by lightning-fast speed
- Industry-leading spreads and minimal commission fees
- Access to leverage of up to 1:1000
- Minimum lot size of 0.01
- Utilisation of cutting-edge technology
- Absence of trading limitations
- A diverse range of CFD instruments for trading opportunities
Both MT4 and MT5 are available on IOS, Windows, and Android, making it easier for traders to trade efficiently.
- Enhanced charting features.
- Utilisation of tools for analysing market trends and facilitating trading decisions.
- Automated trading capabilities.
- Expert advisors and custom indicators support the automation of trading strategies.
- In-depth market insights (DOM).
- Real-time market data provides access to the complete order book, enabling traders to execute orders at the most favourable prices.
- Algorithmic Trading (Algo Trading).
- Access to algorithmic trading tools and strategies, including cAlgo, cTrader Automate, and cTrader Quant.
- Customisable user interface.
- Traders have the flexibility to personalise windows, incorporate custom indicators, and more.
- Mobile trading accessibility.
An iOS and Android mobile app allows traders to engage with the markets from anywhere at any time.
Account Types Offered By BoldPrime
BoldPrime offers 5 types of accounts for both beginners and experienced traders.
|Account Types||Standard||Prime RAW||Prime Platinum||cTrader Standard||cTrader ECN|
|Trading Platform||MT4||MT4 ECN||MT5||cTrader||cTrader|
|Server Location||UK||USA, Europe||USA, Europe||USA, Europe||USA, Europe|
|Suitable For||Beginners||Novice and Expert||Novice and Expert||Novice and Expert||Novice and Expert|
BoldPrime offers a Demo Account to the traders, which is completely free and comes with virtual funds. This is an excellent option for novice traders in the industry.
The broker supports Muslim traders by providing the choice of swap-free Islamic accounts for every type of account they offer.
How To Open an Account on BoldPrime?
STEP 1: Click on “Open Account.”
STEP 2: Enter the “Registration Details” required.
STEP 3: After entering the registration details and agreeing to all the terms and conditions, click “Continue”.
STEP 4: OR you can directly Register through your Google Account.
STEP 5: You will receive a confirmation on your email address, and then you can start trading.
Bold Prime Login
STEP 1: Click on the LogIn Button at the top right corner of the website.
STEP 2: If you’re already registered to the BoldPrime, you can directly login to your account by entering your email address and password.
STEP 3. There is another automated option, which allows you to directly log in with your Google Account.
Pros and Cons of BoldPrime
Like every other broker, there are both advantages and disadvantages to the BoldPrime. Here are a few of them:
|High Leverage Offered||No Negative Balance Protection|
|Low Spreads||Few trading assets are offered|
|Several Account Types||Only Internet Bank Transfers are allowed|
|Advanced Trading platforms offered, such as MT4 and MT5||Lacks Contact Number in customer support|
|Signing and Login through Google||Limited Educational Resources Available|
|Regulated by Tier1 authority|
Bold Prime Deposit Bonus and Promotion
BoldPrime provides bonuses, specifically a 50% deposit bonus, which is designed to incentivise increased trading and deposits. It’s essential to note that bonuses of this nature are prohibited in Europe and Australia.
With a minimum deposit of $33, you’ll qualify for a 33% bonus. However, if you decide to deposit $77 or more, you’ll be rewarded with a generous 77% bonus, as claimed by the broker’s website.
Deposits and Withdrawals
- The minimum Bold Prime deposit amount stands at $15, which is considered a reasonable and accessible requirement.
- Although the stated funding methods include
- Credit/Debit cards
- Wire Transfers
- We cannot independently verify this information because there is no such information on the website.
- To assess their deposit system, we were prompted to supply ID verification documents; however, we opted not to proceed with this requirement.
- It’s worth noting that direct deposits via bank cards are generally considered a secure option, as they enable clients to dispute transactions and initiate chargebacks for up to 540 days, offering an added layer of protection.
Bold Prime Withdrawal
The minimum withdrawal amount at BoldPrime is $50. There are no valuable details about requirements, inactivity procedures, fees, bonuses, etc. That’s certainly a downside, which indicates that the broker can strive to conceal certain things about their business.
There’s one more twist to it; if you’ve signed the Managed Account Agreement (MAA), essentially granting them broad authority over your account, there’s a significant risk that you may lose all your funds, leaving no room for further requests or actions.
User Experience Sources
There are mixed reviews on Trustpilot regarding Bold Prime. Most had their problem with withdrawals and thought that Bold Prime was a cheater, while others were happy with the account services and assets provided.
Scam Advisor has a trust score of 1/100 for the broker, which is blatantly adverse.
Wikifx has given BoldPrime a score of 4.9/10, which we agree to.
After reviewing the broker thoroughly, we would like to give it a score of 5/10. It is strictly regulated and offers a wide range of account types, but what we disliked was the lack of information on deposit and withdrawal on the website, the information on the website is vague and not precise. However, there are three trading platforms but limited trading assets for traders to trade in.
BoldPrime offers an email ID to contact them 24*7 but lacks phone number support, which is not a good sign for a broker. We tried contacting them regarding withdrawals and got an awful response, as they are reluctant to give withdrawal information to us.
If you’re one of those traders for whom customer support plays an important role while trading then we suggest not to go with BoldPrime as it does not provide a calling facility; instead, try Vonway for exceptional customer service.
Bold Prime Limited presents trading accounts for traders of varying expertise levels, encompassing various tradable instruments like forex, commodities, indices, and cryptocurrencies. The broker maintains competitive trading fees marked by tight spreads and minimal commissions.
Furthermore, they extend access to MT4, MT5, and cTrader trading platforms. However, it’s crucial to acknowledge certain limitations, including restricted deposit and withdrawal choices and the absence of a contact number for customer support.
How to change IB in Bold Prime?
Access your client dashboard and go to the ‘Request IB’ (Request Introducing Broker) section for a step-by-step onboarding process. If you have any questions, feel free to contact our Live Chat Support Team.
What is the location of Bold Prime?
Bold Prime (Au) Pty Ltd can be found at 12 Woniora Rd Hurstville NSW 2220, and their offices in Mauritius are situated at 3rd Floor Manor House, 30 St George Street Port Louis.
What is the procedure for withdrawing funds from Bold Prime?
As specified in the Bold Prime Client Agreement, if the payment systems used for depositing funds are inaccessible, you must utilise a bank wire transfer for withdrawing funds.
What is the process for funding an account with Bold Prime?
As per the information provided by Bold Prime, you can make deposits using Internet banking. Depending on your location, additional deposit methods may be accessible. To explore all available methods, you must register, open a live account, and review the complete list of options.
Which trading platforms are available through Bold Prime?
Bold Prime provides access to the widely recognised MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known and widely adopted within the industry.
How much minimum deposit is needed to initiate an account with Bold Prime?
The minimum deposit for a Standard account is $15, whereas Prime Raw and Prime Platinum accounts necessitate a minimum deposit of $150.
What are the trading instruments accessible through Bold Prime?
Bold Prime provides access to over 300 trading instruments, encompassing forex, commodities, indices, and cryptocurrencies.
Is there a demo account available with Bold Prime?
Indeed, Bold Prime provides a demo account, allowing traders to hone their trading strategies and become acquainted with the trading platform.
What are the spreads and commissions applied by Bold Prime?
For Standard account holders, spreads commence at 1.8 pips, whereas Prime Raw and Prime Platinum accounts feature raw spreads that begin at 0.2 pips, coupled with a $7 commission per lot traded.
Are there educational resources offered by Bold Prime for traders?
Certainly, Bold Prime offers a variety of educational resources, such as webinars, articles, and market analysis, aiming to assist traders in enhancing their skills and knowledge.
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