BDSwiss Review 2022
Through CFDs, BDSwiss offers more than 250 markets for shares, indices, forex, commodities, and cryptocurrencies. They provide a fantastic package with spreads starting at 1 pip and an app that has won awards.
Contents
To help you compare similar brokers, this BDSwiss review gives you an overview of the forex and CFD services offered by BDSwiss. We examine the trading interface, login procedures, and account kinds, including the RAW account, which distinguishes BDSwiss from competitors by providing special trading options.
The broker, which has almost 1 million client trading accounts, is a world leader in CFD and forex trading.
Trading Environment
The BDSwiss websites are by default in English, however foreign customers can choose to use the websites in a number of other languages to suit their tastes. You may almost start trading right away after signing up for an account on the platform, which takes less than a minute.
The design of the two BDSwiss websites are very similar, however it is immediately apparent that the European website does not provide a Wealth Management option.
Both websites are simple to use, and if you’re new to trading, you can access the Trading Academy on both the European and main BDSwiss websites. If you choose to open a demo trading account with BDSwiss, you must interact with an adviser directly in order to add the €10,000 demo trading money.
With BDSwiss, you can trade CFDs or forex, and the trading procedure is straightforward.
The website offers trading on the MetaTrader (MT4) platform, and full training is available. If you’d rather, you can also choose to trade utilizing the BDSwiss WebTrader platform.
You’ll see as you browse their website that they provide frequent trader webinars, video courses, and a wealth of training materials for traders of all experience levels. Both of these services also offer on-site quizzes, which are excellent for gauging your level of trading expertise and determining whether you’re prepared to begin live trading.
Markets and Assets
At BDSwiss, you can trade a range of asset classes, including as forex, commodities, indices, shares, and cryptocurrencies. You can select from all major currency pair CFDs, the majority of smaller currencies, and a number of unusual currency pairs if you want to trade the forex markets.
There are more than 50 different currency pairs available.
Gold, natural gas, and oil are among the more than five commodity CFDs available on the marketplace. Four of the most well-known international stock exchanges offer more than 140 equity pairs. There are also numerous indexes and cryptocurrency pairings available.
With BDSwiss, the number of assets that are available is growing, and after registering, you can view all asset classes.
If you choose the EUR/USD pair, one of the most popular currency pairings, you would be choosing a fairly basic example of forex currency trading. If you are given a price quote for the EUR/USD pair of 1.10, it means you will purchase 1.10 US dollars for every single euro.
If the price were to drop to 1.20, it would be a sign that the dollar has weakened versus the euro. You would have made money from the transaction if you had established a buy position on euros relative to the US dollar. Any forex trading strategy aims to earn from sales or purchases by foreseeing currency spikes or decreases.
On our website, you may learn more about trading forex and CFDs.
Dividends and Spreads
On financial markets, forex pairs and indices are listed according to spread. The spread is the distinction between the asset’s ask price and bid price, which is what you pay for it (which is what you achieve when you sell).
Spread values vary between different assets and are determined by pip values. With BDSwiss, you almost never pay commissions or trading costs; instead, spreads are where the trading expenses are charged. Spreads fluctuate throughout the day according on the volatility and market circumstances.
When you roll a trade over to the following day, you are additionally charged a little commission (0.1%).
The typical spreads offered by various account types vary. These are Basic and RAW, with the RAW spread account at BDSwiss being the most popular despite commission fees.
Leverage
As mentioned above, if you choose, you can register for BDSwiss directly on the Swiss platform. The possibility of larger leverage is one of the main benefits for traders. For instance, big FX pairings allow for a leverage of 1:400, whereas large commodity pairings allow for a leverage of 1:300.
You are restricted to using leverage at levels established by the European Securities and Markets Authority if you want to trade on the European platform (ESMA). Forex pair leverage, for instance, is allowed at 1:30, whereas cryptocurrency leverage is only allowed at 1:2.
Mobile Apps
Downloadable mobile apps for both of these platforms are offered through the Apple App Store and Google Play. You can also use Facebook or Google to log into the website and use BDSwiss Web Trader without having to download anything. The BDSwiss mobile platform allows you to trade conveniently while on the road from your tablet, and it supports all asset classes.
Payment Procedures
You can choose your chosen trading currency when you open an account with BDSwiss, choosing UK £, US $, Euros, Danish Kr, or Swiss CHF. The website provides numerous methods for making deposits or withdrawals of money, including bank transfers, credit or debit cards, Skrill, and Sofortüberweisung (Sofort).
Cash deposits and withdrawals are not restricted in any way, although bank transfers under EUR 100 will incur a EUR 10 fee, and the least amount that can be withdrawn via bank wire is EUR 50 (plus the EUR 10 fee).
Trial Account
You can use a Demo account to understand everything about the BDSwiss platform, but you’ll need to interact with an adviser directly to get your Forex/CFD demo account activated.
Deals And Special Offers
However, traders can profit from trading alerts, and their education and free seminars are particularly helpful for customers wishing to increase their financial experience. BDSwiss doesn’t offer deals or promotions on its website.
licensing and governing
Visit the BDSwiss website for a complete list of licenses and regulators.
Extraordinary Qualities
BDSwiss continuously updates its asset listings, however it doesn’t have the same wide selection as some of the other main players.
The interactive seminars are a highly significant component of the site because they offer every trader the ability to learn how to trade like a pro and give insight into many different areas. All you have to do is express interest in any webinar that is featured on the platform (s).
This broker definitely warrants serious consideration with spreads starting at just 1 pip and offered leverage up to 400 times your cash investment.
Account Formats
BDSwiss accounts include the Classic Account for retail traders, the VIP account with smaller spreads, and the Raw account—the most popular option—which has even narrower spreads.
Benefits change at each level; depending on the account type or deposit amount, benefits may include VIP access, charting tools, or access to an account manager.
It should be noted that the Raw account type does not support the BDSwiss Islamic account.
Benefits
One of the biggest benefits of BDSwiss is the possibility to trade at larger leverages on the Swiss platform, along with how simple it is to open an account. Another excellent quality of BDSwiss, on both the Swiss and European platforms, is the enormous selection of tradeable alternatives.
Drawbacks
The requirement to register an account before using the Demo account and training services offered on the site is a significant downside of this brand. Large deals are not discounted as much as they are at other platforms, which is another drawback for professional traders.
Trade Times
The Market Overview portion of the platform will allow you to observe all the various trading hours for assets after your BDSwiss account has been setup.
Contact Information/Client Support
Five days a week, from 9:00 to 23:30, BDSwiss customer service is accessible via Live Chat. You can contact the platform via email at support@global.bdswiss.com or using the contact form. For customers who would rather talk over the phone about any concerns, their website lists phone numbers in many different countries.
Security And Safety
BDSwiss places a high value on client safety, security, and fraud protection. Before being given access to the platforms, all new clients must send identification documentation.
Accounts are password-protected, and BDSwiss promises that all consumer information is secured and kept private. No outsiders have access to client information.
BDSwiss UK is it governed?
Yes, BDSwiss maintains a number of regulatory licenses across the world, including one from the Financial Conduct Authority in the United Kingdom (U.K.) (FCA). However, due to a limitation placed in place by the regulation that forbids BDSwiss from accepting U.K. citizens, its services are momentarily suspended in the country (at least for the time being).
Despite this, BDSwiss has obtained numerous regulatory licenses from the EU, including one from Cyprus, where the Cyprus Securities and Exchange Commission has approved it (CySEC). Additionally, it is controlled as a Tied Agent by its German business and is passported within the EU (and outside of the EU into Switzerland). The company is also in possession of a Mauritius regulatory license for use offshore.
What is the BDSwiss minimum deposit amount?
Depending on the account type you select at BDSwiss, a different minimum deposit may apply. While the minimum first deposit for the Classic account is $100 (or the equivalent in another currency), the minimum deposits for the broker’s VIP and Raw accounts are $3,000 and $5,000, respectively, depending on your place of residence and whether you were referred by someone else.
How did BDSwiss fare in the UK?
According to the FCA announcement, the FCA issued a citation to BDSwiss in May 2021 for engaging in illegal marketing tactics through some of its affiliates and social media influencers and demanded that the broker cease operations in the U.K. and cease marketing to U.K. citizens until a number of unresolved issues are resolved by the broker.
In short, the FCA has regulations that limit the marketing and selling of CFDs to retail customers, and the FCA thinks that BDSwiss, through certain of its affiliates, violated those regulations.
In order to sell referrals to retail traders, BDSwiss collaborated with affiliates, who mostly directed these customers to BDSwiss’ foreign businesses that don’t offer FCA protections. This basically means that U.K. customers were urged to open accounts with brokers affiliated with the FCA but were not given the protections that an FCA-regulated broker should provide.
The FCA claims that since “almost 99% of them were referred to the Overseas Firms,” the clients were “not provided the protections afforded to consumers interacting with an approved company.” Furthermore, affiliates of BDSwiss promoted trading signal providers and “often fail(ed) to mention that the underlying financial instruments being offered are CFDs” while doing so.
Post-Brexit note: Prior to Brexit, many brokers in the EU who had previously been permitted to operate in nations like the U.K. under the MiFiD had to register fully with the country after leaving the EU, or else they would have had to leave the country altogether. In the UK, BDSwiss is still in business under the TPR.
Overall Conclusion
The BDSwiss platforms also provide traders with access to a large selection of commodities and stocks.
For customers who wish to learn more about day trading, the platforms are comparatively simple to use, and the frequent trader seminars are a really helpful tool.
The website provides a helpful charting function for trading in either Candlestick or Line format. You can choose to plug in your own favourite indicators from a large variety on the website. The platform’s abundance of sophisticated capabilities for technical analysis and decision-making will appeal to forex traders as well.
Accepted Nations
BDSwiss welcomes traders from the majority of nations, including Australia, Thailand, Canada, Singapore, Hong Kong, United Arab Emirates, Saudi Arabia, Kuwait, and Qatar.
BDSwiss is not available to traders from Belgium, the Congo, Cyprus, the United States, India, South Africa, the United Kingdom, Germany, the Netherlands, France, Spain, Italy, Romania, Finland, Sweden, Turkey, Switzerland, Russian Federation, Poland, Ireland, Norway, Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, S
Substitutes for BDSwiss
If you’re seeking for brokers that are comparable to BDSwiss, we’ve produced a list of the top 5 below. Only firms that permit traders from your location are included in this list of brokers like BDSwiss, which is arranged according to how similar they are.
1. Vantage – Since 2009, dependable and inexpensive trading. Join over 900,000 other traders who use TradingView, MT4 or MT5 to trade on 400+ CFD products with 0.0 spreads on assets including forex, gold, indices, cryptocurrencies, and shares. Client monies are segregated, and Vantage is subject to ASIC regulation. In less than five minutes, open an account.
2. Pepperstone – Both amateur and experienced traders can trade CFDs on Pepperstone. On the MT4, MT5, and cTrader platforms, clients can trade FX, indices, commodities, and equities.
3. TMGM – With a large selection of tools, features, and instruments offered at affordable prices, TMGM is a competitive forex and CFD broker.
4. Axi – Axi is a reputable FX and CFD trading firm with a global presence that investors trust. It is well-liked by new and experienced traders alike due to its highly leveraged trading opportunities and $0 minimum deposit requirement.
5. FP Markets is a multi-asset broker that provides a selection of trading platforms.