Can We Boldly Trust Bold Prime?

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At first glance on WikiFX's website, Bold Prime has a WikiScore of 4.16, which means it is not quite qualified as a reliable broker.

Bold Prime (AU) Ltd, headquartered at 12 Woniora Rd Hurstville NSW 2220, is an authorized and regulated entity under the Australian Securities and Investments Commission (ASIC) with AFS Authorised Representative No. 001300520.

As the brand name of OPTIM Investments Limited, Bold Prime Ltd is authorized and regulated by the Financial Services Commission of Mauritius (FSC), holding licenses as an Investment Dealer and for administering client funds under license GB20025993, and is located at 3rd Floor Manor House, 30 St George Street, Port Lois, Mauritius.

Its official website is www.boldprime.com.

Although no phone number is listed on the site, customers can seek help via support@boldprime.com.

Trading instruments:

Bold Prime offers a wide range of CFD trading instruments, including currency pairs, stocks and global indices.

Trading platforms:

MetaTrader 4 (MT4) is a widely recognized and highly popular trading platform offered by Bold Prime. Renowned for its user-friendly interface and robust functionality, MT4 provides traders with comprehensive tools for executing trades in the forex market. This platform offers advanced charting capabilities, customizable indicators, and a wide range of technical analysis tools to assist traders in making informed decisions. With its automated trading features, including Expert Advisors (EAs) and algorithmic trading capabilities, MT4 caters to novice and experienced traders alike, enabling them to implement their trading strategies quickly.

Bold Prime also offers the MetaTrader 5 (MT5) platform, which builds upon the success of its predecessor, MT4, while introducing several additional features. MT5 provides traders an enhanced trading experience, offering improved execution speeds and an expanded range of trading instruments. With its powerful charting tools, extensive order types, and depth of market information, MT5 is designed to meet the demands of advanced traders. Additionally, MT5 supports multiple asset classes, including forex, stocks, commodities, and cryptocurrencies, making it a versatile platform for traders seeking diversified investment opportunities.

For traders looking for an alternative to the MetaTrader platforms, Bold Prime offers the cTrader platform. Known for its intuitive and user-friendly interface, cTrader provides a seamless trading experience and advanced trading features. This platform offers enhanced order execution speed, transparency in pricing, and a comprehensive range of technical analysis tools. Traders can access a wide selection of financial instruments, including forex, indices, and commodities, and benefit from the platform's unique depth of market (DOM) feature allows for greater visibility into market liquidity. With its customizable interface and integrated algorithmic trading capabilities, cTrader is a favoured choice for traders seeking a modern and efficient platform.

Account types:

Bold Prime offers 3 different types of accounts for traders at each level:

1. Standard Account is suitable for beginners. Its commission starts from $0 per lot, a high leverage of 1:2000, and only requires a low deposit of $15.

2. Prime RAW Account is an ECN account with a commission charge of $7 per lot, x300 leverage level and requires a slightly higher deposit starting from $150.

3. The Prime Platinum account uses MT5 as its main trading platform and imposes a $7 commission charge per lot. Its minimum deposit has a higher threshold than the others, starting at $400 with a leverage level of 1:300.

Safety:

Bold Prime stated on its website that it is currently operating under the regulation of ASIC and FSC. Unfortunately, WikiFX found that both licenses are invalid as of writing.

Bold Prime's ASIC license had been revoked, and there was no evidence of it being regulated by the FSC. However, we found that Bold Prime possesses a license issued by FinCEN (Financial Crimes Enforcement Network) in the United States. This suggests that Bold Prime is not providing transparent and reliable facts about its business operation on its official website.

WikiFXs Exposure page (https://exposure.wikifx.com/en/revelation/1.html) is where traders can obtain honest and transparent feedback from other traders. For any unresolved disputes, WikiFX would step in as an intermediary to work out a satisfying solution between the trading client and the broker in question.

There are a total of 11 exposures of Bold Prime listed on the Exposure page and most of them are regarding withdrawal issues.

For trading clients seeking a broker with better protection, feel free to utilize the free WikiFX mobile application or website (www.wikifx.com) in search of a regulated broker with a WikiScore of at least 8.0 and above. In addition, selecting a broker under the regulation of tier-1 financial authority bodies, such as Australia's ASIC, Canada's New SRO, Singapore's MAS, the United Kingdom's FSC, and America's CFTC, is much preferable.