Bold Prime offers a range of trading instruments which is inclusive of forex, stocks, commodities, indices, options and cryptocurrencies. It is a relatively new online forex and CFD broker, established in the year 2020. Bold Prime is regulated by two authorities the ASIC (Australian Securities and Investments Commission) and the FSC (Financial Services Commission).
Safety and Regulation
Bold Prime is regulated by two authorities, which is definitely a positive sign as to the legitimacy of the broker. ASIC and FSC are reputable regulatory authorities and guarantee that brokers operate in a fair and transparent manner. Bold Prime was also regulated and authorized by the Financial Commission (FinCom), which is a self regulatory organization that provides dispute resolution services to its members but unfortunately recently due to some compliance issues, the broker was expelled from FinCom’s membership.
Bold Prime has high trust scores from its clients on TrustPilot. TrustPilot is an independent review platform which allows customers to rate and review businesses. Bold Prime boasts a rating of 4.5 out of 5 stars indicating that customers are usually satisfied with its services.
Trading Instruments and Platforms
Bold Prime offers more than 300 underlying assets for trading purposes, this is inclusive of forex, stocks, metals, market indices, cryptocurrencies and oil. The broker’s trading platform and website are only available in English.
The broker also offers access to popular trading platforms namely MetaTrader 4 (MT4) and MetaTrader 5 (MT5), these trading platforms are widely popular and are used by traders around the world. These platforms can be used in desktop, web and mobile versions as well allowing traders to access their accounts from anywhere at any time.
Spreads and Account Types
Bold Prime offers competitive spreads. The Prime Raw account offers spreads starting from 0.0 pips and no Commission and the Prime Platinum offers spreads starting from 0.0 pips and a commission of $7 per lot traded.
It offers three types of trading accounts, namely Standard, Prime Raw and Prime Platinum. The minimum deposit required to open an account is a reasonable $15, which is relatively low when compared to other brokers. It also offers a leverage of up to 1:2000 which when compared to the industry average is higher.
Customer support
Bold Prime offers 24/7 customer service via live chat and e-mail though there is no telephonic customer support. The broker’s website does not feature an 11zon section however the presence of 24/7 customer support is comforting. Customers have reported that the broker’s customer service is not very responsive.
Conclusion
Based on the review, Bold Prime is definitely a legit broker, it is regulated by reputable authorities, offers a range of trading instruments and competitive spreads, and its trading platforms are widely used and easy to use. However, the broker is relatively new and some customers have reported issues with customer support. Overall, it is recommended that traders exercise due diligence and caution when trading with this and conduct their own research before opening an account.
