BDSwiss Broker Review
At a glance
BDSwiss was established in 2012. The broker prides itself with a large clientele base of over a million users from 150 different countries. The broker boasts in having a trading volume of €20 billion forex trades per month. BDSwiss was founded in Switzerland which remains to be its headquarters; however, the broker has offices in other countries like Seychelles, Mauritius and Cyprus.
BDSwiss is regulated by CySEC and FSC and is member of the IFCT in an effort to protect investors’ funds. The broker’s excellent reputation makes it a popular broker to use for new traders.
BDSwiss offers the most popular and widely used platform MetaTrader 4 (or MT4 for short) as well as MetaTrader 5. This versatile platform fits the needs of most traders, both advanced and novice and offers vast trading tools, features and solutions for managing trader’s accounts. The platform is available in a range of languages for traders from different countries and its different versions are available for various devices such Windows, Mac, Android and iOS.
In addition to this users can opt to trade with BDSwiss’ proprietary platform know as BDSwiss WebTrader and BDSwiss Mobile app which is a unique, in-house built platform. The platform is available in over 20 languages and is extremely user friendly, transparent and secure. The platform does not need to be downloaded as it is browser based and offers a variety of add-ons such as indicators and automated trading for traders to use.
BDSwiss offers three account types for traders to choose from: Basic (or Standard), Raw Spread and Black/VIP accounts. The trading account can be opened in US Dollar ($), British Pound (£) and Euro (€). These accounts cater to traders of all levels and with different expertise.
The Basic Account offers an average spread of 1.5 pips and leverage up to 1:30. It the humblest, easiest to use account of all three with minimum features. The account operates on all BDSwiss trading platforms and offers the clients the option to open a swap-free (Islamic) account.
The Raw Spread account offers an average spread of 0.3 and the leverage is up to 1:30. This form of accounts allows raw spreads, which means no commissions are applied. The Raw Spread account does not offer Islamic (or swap-free) accounts, unlike the other two account types of BDSwiss.
BDSwiss also offers a VIP account type known as the Black account. The Black account offers spreads from 1.1 and leverage up to 1:30. This premium account provides superior features to traders such as Real-Time trading alerts, a forecasting program called Autochartist that uses technical indicators, VIP educational material and free access to all seminars, 1:1 VIP trading session and a dedicated account manager available as well priority when processing transactional requests.
All BDSwiss accounts allow hedging, 24/5 support, and offers free educational resources.
BDSwiss are transparent and offer a simple approach on their fees. Spread values vary at BDSwiss depending on the asset types. BDSwiss charges zero commission and trading fees on most trades and instead the broker levies the fees within the spreads. BDSwiss do not charge withdrawal fees except for bank wires for withdrawals that are below $100. We noticed that withdrawals at BDSwiss are processed quite fast. The minimum deposit at BDSwiss is $200 and for accounts that have been inactive for over three months, an inactivity fee will be charge between $25-$50 depending on the account’s balance.
BDSwiss offers a variety of deposit/withdrawal methods such as credit/debit cards, bank transfers and a variety of e-wallets as well as Neteller, Skrill, Postpay Sofort, etc.
BDSwiss is market maker broker and offers STP execution for all of its trades. The broker offers a variety of tradeable products such as over 120 CFD pairs, major stock indices, over 50 forex pairs which includes all majors, many minors and some exotic pair as well as 140+ shares and commodities such as oil, natural gas, gold, etc. BDSwiss also offers a large range of over 20 cryptocurrencies to trade such as Bitecoin, Litecoin, Ethereum, Ripple, etc.
We found the customer support team at BDSwiss to be attentive, helpful and easy to contact. The team is available 24 hours a day, 5 days a week and can be reached via email, phone, live chat, WhatsApp and Telegram. Customer support is available in a variety of languages such as English, French, Italian, German, Portuguese, Spanish and Greek.
BDSwiss offers a notable amount of valuable, extensive trader education. The broker has what is known as a Trader Academy that consists of a variety of materials available for different levels of traders, from beginners to advanced traders. An in-depth course is provided with video lessons plus tests and is conducted by an experience Forex/CFD trader. We found the beginner course called ‘Forex basics’ to be a great starting point for new traders that helps get acquainted with the platform, understand how Forex/CFD markets work and start trading. In addition to this, BDSwiss offers daily live webinars in various time zones. BDSwiss offers other resources such as a detailed forex glossary.
BDSwiss trading assistance does not end there – BDSwiss has a strong team of financial analysts that study global markets and update their traders on what is going on globally. In addition to this, the broker provides traders with real-time alerts that their financial analysts send by Telegram, weekly market news, market forecasts, a blog called ‘Trader’s Journal’ which is a collection of articles about trading instruments and an economic calendar that contains key economic announcements and events that affect trading. BDSwiss also supports the use of Expert Advisors (EAs) for automated trading
BDSwiss offers a free demo account that allows traders to test the platform and practice before opening a live account.
BDSwiss is a stable, reliable broker that is worth considering when picking a platform to trade on. The brokerage firm has over a million clients worldwide and is acknowledged by traders for offering a range of support, transparent and average trading costs and good customer service.