Bold Prime Forex broker review —What you need to know

Bold Prime is the company’s trade name, which operates through several entities depending on the trading platform selected. As the broker operates using multiple shell companies, it is difficult to define which one is serving you at the moment. This makes Bold Prime a risky broker to consider.

Let’s review and analyze the broker’s safety and trading conditions to define whether you should trust Bold Prime or not.

Bold Prime Overview of the website

Bold Prime website is responsive and works well. It offers information about crucial conditions. However, the website does not include a direct tab or menu item for deposits and withdrawals, which is a red flag. There are no details about regulations offered at the bottom of the main page which is the case with regulated brokers. Instead, there is a dedicated page for regulations.

There is a live chat plugin directly built into the website, which is really useful to contact the broker right away.

Overall, the website seems fine and works quickly, which is important. However, it does not directly provide all necessary details about the broker’s services and conditions.

Safety – Major Red Flags!

The broker claims to be overseen by Australian ASIC, which is a very reputable regulator. However, the truth is different. The broker is listed as an Authorized Representative with AFS Authorised Representative. However, it’s important to note that being an authorized representative is not equivalent to holding a full Australian Financial Services (AFS) license.

Bold Prime Accounts Reviewed

The broker offers diverse trading account choices, which are closely tied to trading platforms. There are Bold Prime MT4 Prime ECN, MT4 Prime Standard, MT5 Prime ECN, and MT5 Prime Standard. The ECN accounts typically provide lower spreads while standard accounts won’t charge commissions and the same is true for Bold Prime’s ECN and standard account types.

It is disadvantageous that traders have to select trading platforms and account types together and they can not select platforms separately.

Bold Prime MT4 Prime ECN Account

The MT4 Prime ECN account offers low spreads and competitive conditions:

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

While the account claims 0.01 pips, which is very competitive, the broker does not disclose real commissions which makes us believe there are expensive commissions charged.

Bold Prime MT4 Prime Standard Account

The standard account is a traditional commission-free account type that does not charge commissions:

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

As we can see, the minimum deposit requirement is pretty low on this account which makes it suitable for beginners.

Bold Prime MT5 Prime ECN Account

The MT5 ECN is very similar to the MT4 one and offers similar requirements and conditions:

• 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

This account also comes with a 150 USD minimum deposit requirement and offers low spreads but exact commissions are not disclosed, which is a red flag.

Bold Prime MT5 Prime Standard Account

The standard MT5 account is similar to MT4 but has several key differences:

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

Overall, Bold Prime accounts are not very competitive as the broker has high spreads on standard accounts from 1.5 pips and does not disclose commissions on zero pip accounts.

Deposit and withdrawal options at Bold Prime

The broker is not providing any details regarding its deposits and withdrawals. The broker accepts several payment methods, including credit/debit cards (Visa and Mastercard), bank wire transfers, and e-wallets such as Skrill and Neteller. Deposits are typically processed instantly for cards and e-wallets, while bank transfers may take 1–5 business days. Withdrawals are slow and many traders claim frozen accounts for no reason. Stay away!

Bold Prime Assets — What can you trade?

The broker offers CFD Forex trading and CFD stock trading. There are only FX pairs offered for trading like majors, minors, and exotics. There are no commodities or indices available, and the broker does not provide digital currencies either, which is a serious drawback. When it comes to stocks, the broker offers stocks as CFDs.

Trading platforms of Bold Prime

The broker provides access to advanced trading software, MT4 and MT5. Both of these platforms are advanced software allowing custom indicators and automated trading systems (EAs). The broker allows custom indicators and EAs as well, which is competitive. Mobile trading is also available via mobile app versions of these platforms.

Education at Bold Prime

Bold Prime offers educational resources such as trading schools and online webinars. The Bold Prime trading school offers lessons that are accessible on mobile and traders can read them and then pass quizzes. Quizzes reward traders with loyalty coins to get bonuses and rewards. There is also an economic calendar provided and copy trading is available.

Bold Prime Customer Support

When it comes to customer support experience, Bold Prime offers live chat, email, and phone channels. The live chat is built inside the website and there is a dedicated page for contact us, where traders can find email, phone, and support offices.

Bold Prime bonuses and promotions

The broker does not offer bonuses like deposit bonuses and welcome bonuses. There is a reward system but direct acquiring of bonuses is not allowed at the moment. This is disadvantageous for the broker especially when its license is questionable, making it even less competitive.

Is Bold Prime your broker? Final verdict

Bold Prime may appear attractive because of its high leverage, low minimum deposits, and access to advanced trading platforms MT4 & 5, but the lack of transparency around regulations, undisclosed commissions, and withdrawal process, are serious red flags. The broker offers educational tools and resources coupled with diverse account types but traders should be extremely cautious and stay away from this broker because of the above mentioned issues.

FAQs on Bold Prime broker

Where is Bold Prime based?

Bold Prime operates via multiple entities and shell companies, making it very difficult to exactly tell where the company is located.

Can you withdraw from Bold Prime?

Many traders claim frozen withdrawals and other manipulations from the broker, making it difficult to confirm that it allows withdrawals.