Review: Exploring the Big Boss Broker

Today we continue our series of detailed broker reviews with a deep dive into Big Boss, a trading broker operated by Prime Point LLC since 2014. As always, our goal at DayFunded is to provide a comprehensive and impartial exploration of all pertinent characteristics, from basic requirements to advanced features, and everything in-between.

Basic Requirements and Features

Big Boss has a very welcoming minimum account size of a mere $1, making it accessible to virtually anyone interested in dipping their toes into the world of trading. Their minimum position size is 0.01, offering a great platform for beginners looking to learn and experiment without risking a lot of capital.

However, the broker falls slightly short in one key area – they currently do not allow US traders. This is a substantial drawback when considering usability and inclusivity of the platform on a global scale.

Some distinct features of Big Boss are managed accounts, segregated accounts, a personal manager, PAMM, and bonuses. Managed accounts and personal managers are beneficial for traders who don't have much time to invest in trading activity yet want to maintain activity. The PAMM system (Percentage Allocation Management Module) is a feature that allows the management and distribution of gains, losses, and funds among various accounts. Segregated accounts further ensure clients' funds safety by storing them separately from the company's own funds.

Meanwhile, the max leverage data is not available at this current moment and traders are advised to check directly with the broker for the most accurate information.

Regulation and Reputation

In terms of regulation, Big Boss does not appear to have any serious structure in place. Firm regulation is something that brings credibility to a broker, so the lack of it here should spur potential users to exhibit caution. As always, careful research and due diligence are important when choosing a trading broker.

Despite this, Big Boss maintains a steady average rating. However, the rating can fluctuate based on user feedback and the particular metrics being evaluated. Therefore, it's important for potential users to read multiple reviews and take in various perspectives before concluding about the broker's overall reputation.

Performance and Usability

While Big Boss boasts a number of useful features and an impressively low barrier to entry, its high spread could be a potential area of concern. High spreads can eat into profits, especially for frequent traders. However, larger account holders who maintain infrequent, larger trades may not be as affected.

The broker's performance and usability are aspects users should personally examine. The interface, speed, and other performance-related characteristics can be subjected to personal preference.

Conclusion

Big Boss presents as an interesting mix of pros and cons. It certainly offers a host of exciting features and its low entry barrier will appeal to many, particularly beginners. However, the lack of serious regulation and a high spread may pose potential drawbacks. As always, we advise potential users to research extensively and where possible, try a demo account before committing to a broker.

Stay tuned for our next broker review, as we continue to explore and provide insight on the various trading platforms available on the market!

Disclaimer: The review is based on the data available at the time of writing and does not constitute financial advice. The views expressed are impartial and based on careful analysis. Traders should always conduct personal research before opening an account with any broker.