Bold Prime Review
Bold Prime is an online Forex CFD provider for high volume traders and scalpers. Experience retail forex and CFD trading, built by traders globally.
Founded in 2020 and based in Saint Vincent and the Grenadines, Bold Prime is an online CFD brokerage firm that was built by traders to provide retail trading to clients all over the globe. The broker is focused and dedicated towards providing institutional-grade trading conditions along with the market analysis and education required to help you make informed trade decisions. Regardless of your prior experience or investment size, anyone can open an account in a few easy steps with a seamless KYC procedure and convenient funding options to kick start your trading experience.
Utilizing cutting edge technology, Bold Prime provides very competitive trading conditions with the performance of institutional level brokerages but the accessibility of a retail broker. They have raw spreads starting from 0.0 pips and quick execution speeds at the best available prices with no requotes. They do not have any restrictions on trading strategies, so you can scalp, trade the news, hedge and run automated trading systems. The commissions are reasonable and vary depending on the account type you choose. The minimum deposit required is just $15 whilst there are free demo accounts if you would like to practice trading online without any risk. Bold Prime do not charge any account funding fees with instant deposits and fast withdrawal options available for all.
Bold Prime provide CFD trading in Forex, Stocks, Indices, Commodities and Bonds. You can trade over 28 different currency pairs and world-renowned exchanges such as the New York Stock Exchange (NYSE). If you want to trade cryptos then you can have a look at our best crypto brokers for some other options.
Contracts for Difference (CFDs) are financial derivatives that allow investors to speculate on whether the price of a specific instrument will rise or fall, without taking ownership of the underlying asset. This means that anyone with a trading platform and broker account can trade CFDs.
Bold Prime Instruments Summary
| Instruments | Bold Prime |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | x |
| Options | x |
| Bonds | ✓ |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
From a vast aggregation of liquidity to unparalleled performance, Bold Prime account plans cater to experience of all levels from beginners to expert traders. You can choose between accounts with competitive commission fees and spreads from 0.0 pips, or you can choose to trade without commissions and slightly increased spreads. It really depends on your trading strategy and what conditions you need.
Some of the lowest possible spreads available are accessible from the Bold Prime Raw Account. The EUR/USD spread can reach as low as 0.1 pips, with a commission of $7 per lot payable. The broker implements a large pool of liquidity choices, helping to ensure that they can deliver the best spreads to their clientele. The Bold Prime Raw account suits all trading styles from short-term scalpers to swing traders who are looking to hold positions over the long term.
Via the brokers bridge, clients can be filled on trade sizes ranging from 1 micro lot (1,000 base currency) to 200 lots (25 million base currency). The technology sorts and ranks prices so that massive trades can be executed in real time through several pricing suppliers and tiers, ensuring the best price for any trade size.
I think the overall costs are very competitive and up there with some of the very best forex brokers. However, I do think they could improve by offering spreads from zero pips like many other brokers do such as IC Markets. If you are a scalper and active trader, that 0.1 pip spread can make a signficant difference.
| Fee | Cent | Standard | Prime Raw | Prime Platinum |
|---|---|---|---|---|
| Commission (per standard lot per side) | $0.07 | $0 | $7 | $7 |
| Spreads from | 0.1 | 1.8 | 0.2 | 0.1 |
Deposit and Withdrawal Fees
Bold Prime do not charge any deposit fees but you may incur a charge from your bank or third-party processor.
Inactivity Fees
There is no charge or fee for any inactive account which is great. It means that you are under no pressure to access your account and trade when you don’t necessarily want to.
Bold Prime has a network and infrastructure of trading platforms that are suited to any trading style from serious day-traders to newcomers that are searching for a reliable, fully equipped and efficient platform. You can trade online via the powerful yet user-friendly MetaTrader platforms for all of your devices. There are no trading limits on the Bold Prime MetaTrader 4 and 5 platforms and they make everything from analysing the markets to placing and managing trades as efficient as possible. You will find that many brokers provide the MetaTrader platforms, including Traders Way, which means you have plenty of choice moving forward once you learn how to use them.
MetaTrader 4/5
Primarily due to its ease of use, abundance of features, and automated trading capabilities, MetaTrader is without a doubt one of the world’s most common trading platforms for forex and CFD traders. The platform has a quick learning curve making it a popular choice for beginners whilst it also has all of the functionality even the most demanding of traders would expect.
Bold Prime gives you the opportunity to use both MT4 and MT5 to access and trade markets from your laptop, PC, tablet and mobile using the trading app. Both platforms are free to download and very user-friendly.
You can watch live prices and charts, place new orders into the market and manage your positions in real-time while on the go. They include algorithmic trading via expert advisors and plenty of powerful trading tools for advanced technical analysis.
Similar execution modes are available on both platforms. MT5 provides additional order fill policies and pending orders which offer even more advanced ways of trading.
The simple user interface is a software-based program which is highly customisable to individual trading preferences. Both trading platforms have a host of features to develop your skills and trading experience.
Attractive, interactive charting is a key feature of MT4 and MT5. Both platforms offer a huge variety of technical analysis indicators across multiple timeframes and can also provide the latest financial news. MT5 has a built-in economic calendar which is a very convenient way to stay on top of important news events that can have a significant impact on you trading.
MT4 was originally designed for forex traders, but as the popularity of retail trading, MT5 was developed to cater for even more financial markets. The newer platform allows you to also trade individual stocks and commodities.
The ease of use and ability to customise MT4 and MT5 have made these online platforms some of the most popular in the world. With so many features and the opportunity to automate your trading, every trader now has the chance to take their knowledge and performance to the next level.
Whether you want to trade manually with complex analysis or run advanced automated systems, MetaTrader can support all of your trading strategies.
MetaTrader Features
- Fully customisable user-friendly interface
- Real time price quotes in market watch window
- Multiple chart types and timeframes
- Technical indicators and drawing objects for market analysis
- Create, save and load custom chart templates
- Supports various order types including instant, pending and limit
- Set price alert notifications
- Automated trading with expert advisors (EA’s)
- Strategy tester to back test EA’s on historical data
- Large online community of traders to share ideas, signals and tools
- Free to use on desktop, web and as a mobile trading app
Bold Prime Platforms Summary
| Platform | Bold Prime |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | x |
| Proprietary | x |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | x |
| Other | x |
I was disappointed at the lack of educational materials to help teach clients about trading online. Whilst there are plenty of other resources available online, it would be great if Bold Prime can add some tutorial video and trading guides so that users can improve their knowledge of the financial markets. If you are a beginner, then you might want to consider IronFX as they have lots of helpful content to bring you up to speed with the markets.
Bold Prime Research and Education Summary
| Resources | Bold Prime |
|---|---|
| Market Analysis | x |
| Guides | x |
| Videos | x |
| Webinars | x |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | x |
| Other | x |
Bold Prime support instant deposits and fast withdrawals, depending on the method used. They accept bank transfer, card payments and some popular e-wallets. Accounts can be funded in USD, EUR, JPY, MYR and IDR. Otherwise, a conversion fee may apply. I think they could improve by adding support for cryptos. If that is something you are looking for then RoboForex are an alternative option.
Bold Prime Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | ✓ | ✓ |
| Credit/debit Card | ✓ | ✓ |
| Electronic Wallets | ✓ | ✓ |
| Cryptos | x | x |
BOLD PRIME, brand name of OPTIMFX.COM and OPTIMFX.EU are owned and operated by OPTIM Investments Limited a company incorporated in Mauritius.
BOLD PRIME, brand name of OPTIM Investments Limited is authorised and regulated by Financial Services Commission of Mauritius (FSC) and is authorized to provide licensed services as an Investment Dealer and is authorized to administer client funds.
The Financial Services Commission, Mauritius (the ‘FSC Mauritius’) is the integrated regulator for the non-bank financial services sector and global business.
Bold Prime Regulation Summary
| Regulator | Bold Prime |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | x |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other (FSC Mauritius) | ✓ |
Bold Prime Safety
Although Bold Prime is regulated, they are located offshore so you may not have the same protection as you would if using a brokerage firm that was regulated by what we consider to be a top-tier regulator. In saying that, they do have some safety measures in place to protect clients.
Bold Prime is expected to meet stringent financial criteria as a controlled company, including capital adequacy and audit requirements. Bold Prime holds client money in client segregated and insured trust accounts throughout our trusted banking chain.
If you would prefer to use a broker with top-tier regulation, then AvaTrade are a great option to consider as they are regulated in multiple jurisdictions.
Bold Prime aims to provide you with the best customer service and support possible. The team has a lot of experience in the forex business, so they know exactly what traders are looking for.
Bold Prime customer support is available 9:00 AM to 5:00 PM (GMT+2) from Monday through to Sunday. They can be reached via email and live chat. I would like to see a telephone number provided as another way to get in touch. I think it would also be better if working hours were extended to weekends in order for them to keep pace with competitors such as Hugo’s Way.
Bold Prime has competitive trading products and services which can cater to the differing needs of traders all across the globe. There are various account types and payment options to choose from. You can trade CFDs on the popular MetaTrader platforms either from your computer or mobile phone with good trading conditions. The spreads are tight and commission fees reasonable.
However, I feel that the broker could significantly improve when it comes to educational resources and additional tools to support traders. Some potential clients may also be concerned that they are only regulated in Mauritius with no contact telephone number.
If you can see past these flaws and want to give Bold Prime a try, you can start trading within minutes due to the instant account opening and funding process. There is also the option of a free demo account which can be a great way to get a feel for what they have to offer.
