This broker was not featured in our 2023 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.
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There aren’t too many brokers who claim to have customer service as their highest priority, but BDSwiss is one of them. BDSwiss is the trade name of BDSwiss Holdings Plc, an investment firm with its main offices in Nicosia, Cyprus. As such, it is licensed and regulated by CySEC, the Cyprus Securities and Exchange Commission. BDSwiss specialises in trading Forex, CFDs, and binary options for all kinds of traders around the world. This broker focuses a lot of its attention on the German market, and there is actually a German postal address, but the website is also available in Spanish, Norwegian, Danish, Italian, French, and Polish, so they are obviously able to work with clients from other European countries.
|Forex, indicies, commodities, shares|
BDSwiss runs the popular MetaTrader 4
BDSwiss have decided to stick with a popular option for their trading platform, and gone with the aged old favorite, MetaTrader 4. It’s user-friendly, packed with loads of helpful tools, and is actually the trading platform of choice for many traders, both new and experienced. Accessible from your browser, so there is no time wasted with a download, traders can get started as soon as they have registered. There is MT4 WebTrader for the more professional traders, as well as MT4 Desktop and MT4 Mobile. The benefits of this popular platform include:
- The interface is easy to use
- News feeds are regularly updated direct to the platform
- There are a host of preprogrammed analytical tools
- Analytical studies can be overlayed
- Includes the option for multiple charting and analysis
- Features a number of languages
- Daily account statements
- Real time account summaries
- Includes floating profit and loss, and account equity
- Compatible with MAC, Android and iOS systems
BDSwiss offers exclusive access to an educational centre
Customers who sign up and open an account with BDSwiss are given unrestricted access to their educational centre which includes a wealth of training material. With their help, a beginner can quickly learn all they need to know to become a successful trader. And if you prefer your training to take place face-to-face, there are a number of live seminars to participate in. There are also a series of online webinars that will ensure any areas of uncertainty are soon eliminated. With a number of analytical and trading tools, traders can develop and improve their own personal strategies. And to keep all traders up to date with the latest developments worldwide there is an economic calendar and market news. Additionally there are a number of experts who contribute their own daily insights into the most important news of the day, as well as giving a behind the scenes view of financial markets.
BDSwiss is transparent about the cost of trading
BDSwiss have decided to be upfront and honest about the cost of trading and there is a page dedicated to the charges. For your convenience, let’s take a look at what they have to say.
Spread – For the most popular currency pairs this can be as low as 1.2, but for more exotic currency pairs this can climb much higher.
Commission – This is charged in the form of a percentage for stock CFDs, and is deducted from the opening and closing of a position. The commission is 0.1%.
Rollover – Positions held overnight are subject to a rollover fee. The fee can vary depending on the underlying asset.
Margin – Should your account balance be only 50% of the margin, you will receive notification that the account will be closed automatically, if you fail to make a further deposit.
Payment methods are safe and secure
BDSwiss makes full use of the latest data encryption and SSL protection, which ensures all personal and financial data is protected. A number of methods are supported for both deposits and withdrawals, and payments can be made in a number of different currencies. For making deposits there is the option of a wire transfer, which could take between 2 and 7 days to be credited to an account.There are also credit cards, which can take up to 10 minutes. And a number of online payment methods, such as Skrill and Neteller, where the funds are transferred immediately. Minimum amounts apply, and these vary across the board, as do any charges. Withdrawals can only be made via wire transfer, which we thought was a big downside.
BDSwiss may be a relative newcomer to the world of forex trading but they seem to have already gained a number of followers. They already claim to have more than 500,000 trading accounts. Traders can choose to enter the world of CFD trading or trade binary options with a choice of more than 200 underlying assets. Customers are kept well informed and provided with training material, so we have to say that BDSwiss have definitely made a great start. We look forward to seeing what else they can offer in the future.
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