Review sections
BDSwiss Video Review
VIDEO
Investor Protection & Regulations “BDSwiss is authorized and regulated by CySEC, NFA and the FSC. The company protects clients’ investments through funds segregation, platform security and participation in the ICF.“
BDSwiss is the brokerage brand name of the BDSwiss Group. Here is the regulatory information on the Group:
BDSwiss LLC is a member of the National Futures Association (NFA) in the United States. The license number is 0486419. We could not find the link to support this on the NFA website.
BDSwiss Holding Plc is authorized and licensed by the Cyprus Securities and Exchange Commission (CySEC). The license number is 199/13. Click here for details.
BDS Markets is authorized and regulated by the Financial Services Commission (FSC), Mauritius. The license number is C116016172 .
BDSwiss GmbH is the registered “Tied Agent” of BDSwiss Holding Plc in Germany. The registration number is HRB 160749B.
BDSwiss has also put in place the following measures for the protection of clients’ funds:
BDSwiss Holding PLC is a contributory member of the Investor Compensation Fund (ICF). This fund is used as a form of insurance for traders who have been affected by such eventualities as broker bankruptcy. In case of any negative affectation of the trader’s fund, the ICF will pay compensation to the affected investor.
In line with the regulatory requirements, BDSwiss keeps traders’ deposits in separate bank accounts from the broker’s funds. This segregation is done so that if the brokerage goes insolvent, investors will still be able to access their funds.
BDSwiss protects the trading environment as well as their website with a Secured Socket Layer (SSL) to prevent theft of sensitive payment and user data by cyber criminals.
BDswiss PLC and BDSMarkets do not provide brokerage services to residents of the following countries:
Cyprus and North Cyprus
Democratic Republic of Congo – DR
Eritrea – ER
Libyan Arab Jamahiriya – LY
North Korea – KP
Somalia – SO
Sudan – SD
United States / US reportable persons
Belgium
*Please note: depending on jurisdiction and licences, further restrictions may apply
Tradable Products “BDSwiss offers 72 currencies, 7 commodities, 12 indices, 8 cryptocurrency assets and 138 stock CFDs for trading.”
Here is a list of the most popular tradable assets on the BDSwiss platform:
The above list was taken from BDS Markets Ltd’s website www.bdswiss.com; the asset listing can be changed at any time without prior notice. The list for BDSwiss Holding Plc can be found on eu.bdswiss.com
Account Opening “Three main types of account are offered by BDSwiss Holding PLC, which accepts only EEA clients, e.g BDSwiss Europe: the Basic, Raw Spread and Black Accounts. The Black Account is the premium account with VIP support and other benefits.”
For all retail accounts on BDSwiss Europe, the maximum leverage is 1:30. Professional clients, subject to special classification have the opportunity to use a leverage of 1:400. For BDS Markets, the maximum leverage available is 1:400 for all the clients. Free educational materials, free webinars and trading tools are provided for all account types. Hedging is also allowed.
The account types on the BDSwiss EU platform are now discussed below in greater detail.
Basic Account: This is the simplest account with the least requirements and minimal features (zero fees on deposits and free educational materials but an optional Islamic account). The typical spread for the EURUSD is 1.5 pips.
Raw Spread Account: This account features raw spreads for forex, energies and metals. The spread for the benchmark EURUSD is 0.4. The Islamic account can be requested and hedging is allowed.
Black Account: This is the premium account with all the outstanding features. The spread for the EURUSD is 1.1 and the minimum lot size is 0.1. VIP Education materials, VIP support as well as VIP trading alerts are all provided to Black Account holders. A free Virtual Private Server (VPS) is available on request.
Islamic Account: This is a swap free account provided upon client request. It is meant for Muslims looking for Sharia-compliant trading conditions.
The Demo Account is designed for new clients to practice and familiarize themselves with the trading platforms, market behavior and gain some trading experience before proceeding to trading on a live account. BDSwiss provides the Demo Account under all jurisdictions with a virtual trading balance of $10,000. It is available on all platforms.
To open an account with BDSwiss, click the “Sign Up” button found on the top right hand side of the website.
Fill the form, accept the Terms and Conditions and click on the “Submit” button. Immediately, the account is created and demo trading can commence. To open a real account, more information, KYC verification and of course a deposit is required. If you register under BDSwiss Holding PLC which is authorised by CySEC, you will also need to complete an Appropriateness Test in order to activate your account. To start trading on the new demo account, the MT4 platform can be downloaded and installed. BDSwiss also offers a native WebTrader platform and mobile app.
After installation, choose the appropriate server, in this case the demo server and trading can commence immediately.
Deposit & Withdrawals Options “The major credit/debit Cards, e-wallet solutions like Skrill and Neteller. Bank wire transfers can also be used to make payments.“
BDSwiss states that the depositor’s account name must match the name on the trading account. At the company’s discretion, third party deposits may be approved subject to further documentations and verifications. The company’s finance department processes withdrawal requests manually but also offers automatic withdrawals when it comes to credit cards. The requests are normally processed within 24 hours. Every client must be properly verified before a withdrawal request can be approved. This means proving both identity documents like a passport and utility bills to prove your address. Normally, BDSwiss does not charge deposit and withdrawal fees, however some exceptions and conditions apply for withdrawals under 100 EUR as per T&Cs.
BDSwiss accepts the following payment options for both deposits and withdrawals:
eWallet Payment Gateways such as Skrill and Neteller can be used for deposits and withdrawals. The payments are processed instantly but sometimes it can take up to an hour.
The Major credit cards like Mastercard and Visa cards can be used for deposits and withdrawals. Card deposits are processed instantly.
Bank wire transfers are accepted for deposits and withdrawals. It may take 3-7 business days to process depending on the processing banks. Withdrawals less than €100 are charged a fee of €10.
Detailed account statements of every fund received by BDSwiss can be accessed by client in the ‘transaction history’ section of the client area.
Web & Desktop Trading Platforms “The MT4 trading platform is provided as a desktop application and also as a WebTrader. The MT4 therefore offers opportunities for manual and automated trading as well as programming and optimization of EAs.”
The platform provided by BDSwiss is the very popular MT4. This platform is the most widely used trading platform among forex traders. It has tons of tools for technical analysis, account management and order management. BDSwiss provides the MT4 as WebTrader and desktop application. It is available in multiple languages.
The MT4 WebTrader is accessible via a link on the BDSwiss website. No downloads or software installation is required. It works on all devices that run a web browser.
The MT4 Desktop application is designed to run on Windows PC and on a MAC computer. It is downloadable from the BDSwiss’ website.
There are several features of the MT4 platform. It is easy to use and has many tools for market analysis. Here are some of the features of the BDSwiss MT4:
It has the ‘market watch’ window, which shows the live ‘bid’ and ‘ask’ rates. The chart windows are customizable and also show real quotes.
The “Trade” tab shows the current trades that are open. It lists the order type, asset traded, price, TP, SL, etc. Orders can be modified, deleted or closed from this tab.
MT4 has multiple charts such as line chart, bar chart and candlesticks. These are important for technical analysis of the tradable asset.
The MT4 has 30 in-built indicators and over 20 custom indicators. These indicators are used for technical analysis.
It supports automation of trades using Expert Advisors (EAs). The EAs can be customized and installed into the MT4.
The MT4 provides access to the MetaTrader market where indicators, forex robots and other tools can be acquired.
It features 9 Timeframes ranging from a minute to a month.
It has four types of pending order: Buy limit, Sell Limit, Buy Stop and Sell Stop.
Mobile Trading Platforms “The BDSwiss mobile app is available for iPhones and Android phones. It can be used to place trades, manage order, manage user accounts and perform some analysis.“
The BDSwiss mobile app is developed for the iOS and Android devices. It is available in 22 languages. The apps are downloadable from their respective stores. On the Google Play store the app was rated 3,7 by 392 reviewers and had over 50,000 downloads. On the App Store only 8 people reviewed the app and gave it 4.5 out of 5.
Here are some of the features of the mobile apps:
Very simple interface and easy to use.
Fully compatible with BDSwiss accounts as deposits, withdrawals and account management can be performed on the app.
Good risk management features including Take Profit and Stop Loss on trades
Complete access to BDSwiss trading instruments and order management.
6 Timeframes from 10 minutes to 3 months.
Good selection of assets but no trading indicators or studies to conduct on charts. No real chart customisation.
The desktop has a lot more customizable options for charting and studies whereas the mobile app is a stripped down version.
Trading Features “As well as trading on your behalf, BD Swiss have a wealth management tool for investors to have their funds managed by third party fund managers. The investors select who they would like to manage their funds.”
In addition to self-trading, BDSwiss offers a wealth management programme, where BDSwiss investors may put their funds with fund managers and have their portfolios managed on their behalf.
First, the investor must select one or more Fund Managers to invest their funds with based on listed metrics such as success rate, current balance, the strategy they will use and their profits plus fees.
At the end of the predefined time eg, a week or month, the investor may withdraw their funds, having paid the Fund Manager’s fees.
Commissions & Spreads “BDSwiss charge from the spread with the EUR/USD on the Raw account charging from 0.4 and $8 commision. The Basic account charges 1.5 spread on the EUR/USD and no commission. The Black account gives an average spread of 1.1 pips and charges no commissions.”
Charge type depends on the account type you are trading with. The EUR/USD on the Raw account is charged on a spread basis from 0.4 and an $8 commission. The Basic account charges 1.5 spread on the EUR/USD and no commission. The Black account gives an average spread of 1.1 pips and charges no commissions.
Find below the spread and commission charges on some trading instruments for the Raw account:
*The above list is taken from BDS Markets Ltd website bdswiss.com and may change anytime.
Bonus & Promotions “BDSwiss Holding PLC does not offer any bonuses or organize any contests. This comes as a result of its CySEC and EU regulation.”
There is no welcome bonus, refer a friend bonus, contests or any promotions that will encourage the traders. This is in tandem with the regulatory conditions provided by CySEC in the EU.
Customer Support “BDSwiss Customer support desk is available 24/5 on phone, email, WhatsApp, Telegram, WebChat. The support is available in 7 languages.“
The BDSwiss customer support team can be reached 24 hours, 5 days a week.
The following support channels are available.
Online Chat: Available on Telegram and WhatsApp. Also online as Instant Web Chat. This is the quickest way to get hold of the firm and in our experience, they respond within 60 seconds in a helpful manner.
Online Forms: There is the “Call Back” form and “Email form”. Customers are expected to fill the form and the support team will get back to them at their convenience.
Phone: There are 10 phone numbers for support in different countries. The languages listed are German, French and Italian. The phone support desk speaks 7 languages.
E-mail: support@bdswiss.com, complaints@bdswiss.comand are the email addresses provided for email support.
Social Media: Facebook.com/BDSwiss; Twitter@BDSwissEN; plus.google.com/BDSwiss; LinkedIn.com/BDSwiss; Instagram/bdswiss; YouTube/BDSwiss.
Research “BDSwiss provides the traders with some trading tools like Trading alerts, economic calendar, market news, a blog and an eBook; 2019 Global outlook.”
The listed tools are provided in order to assist the trader:
Trading Alerts: These are real-time trading alerts that are delivered to clients through Telegram. BDSwiss analysts study the markets and summarize their analysis into trading alerts which is delivered to clients as “buy” or “sell” suggestions.
Market News: This is provided to traders on a weekly basis.
BDSwiss Blog: This is also referred to as the Trader’s Journal. This is a collection of articles about the markets and trading instruments.
2019 Global Outlook: This is a market forecast by BDSwiss analysts available for free download from the broker’s website. It is a 22 page e-book written in pdf format.
An Economic Calendar: This tool is important for fundamental analysis as it covers major economic events, announcements and news that affects the forex market globally.
Trader Education “A comprehensive Trader Academy, “Forex Trading Videos Library” made up of past webinars, Glossary and “Forex Basics Lessons” are the training resources available on all BDSwiss websites.”
Webinars also come up on the site occasionally.
The BDSwiss Website has a Trading Academy. The Trading Academy is divided into Beginner, Intermediate and Advanced Level Courses. The course consists of video lessons and quizzes. There are a total of 16 videos. The course instructor is a seasoned Forex/CFD trader and analyst named “Alexander Douedari”.
Forex Trading Videos Library is a collection of past recorded webinars and other training videos. Over 200 videos are available in the Video library.
Webinars are periodically scheduled on the website.
An in-depth Glossary defining important trading terms is on the website.
“Forex basics” is a series of lessons designed to introduce a newbie to forex trading. It has lots of articles and training videos. The course is made up of 15 lessons.
Trading Experience
“A good trading experience via the selection of platforms including the MT4, MT5 and the BDSwiss’s own Webtrader. A wide selection of assets and some competitive spreads which makes this a suitable offering for beginners and professionals”
BDSwiss Group boasts of one million trading accounts and still counting. It only means that more and more clients are opting for its services. There are positive reviews about BDSwiss’ services. The ratings of the mobile app is 4.5/5 stars on the apple app store and 3.7/5 stars on Google play store. Indeed, the company won the award for the 2018 Best Trading App, given out by the Mobile Star awards.
The company is extremely well equipped to deal with beginner traders. The “How to Trade” section, first steps and beginners education is particularly helpful for absolute newbies.
The MT4 platform provided is suitable for all levels of traders and suitable for all trading styles. The alternative BDSwiss apps are intuitive and easy to use for beginners and also contain enough of an asset selection and detailed charting for more experienced traders.
FAQ
Where is BDSwiss based?
The holding company of the BDSwiss Group is based in Switzerland. BDSwiss PLC Headquarters are located in Cyprus while BDS Markets Ltd is located in Mauritius.
How does BDSWISS make money?
BDSwiss makes money from spreads and commissions. The broker executes the trades instantly as a market maker.
How do I deposit in BDSwiss account?
The payment options accepted are: Bank Wire, Credit/Debit Cards like Mastercard and Visacard. ePayment wallets like Skrill and Neteller.
What is the min. deposit for BDSwiss?
The minimum deposit is $200 for the Basic Account.
What is the maximum leverage in BDSwiss?
Maximum leverage is up to 1:30 for retail clients under CySEC and up to 1:400 for professional clients for all account types. For clients under FSC, maximum leverage is up to 1:400.
How do I open an account with BDSwiss?
Click the “Sign Up” button found on the top right hand side of the website.
Does BDSwiss use MetaTrader?
Yes, the MT4 is available. The MT5 is also available as of early March, 2019.
Conclusion
“BDSwiss the brand name behind a group of entities offering investment services on over 250 tradable Forex and CFD assets. The brand is regulated by the CySEC, NFA and FSC.”
In compliance to the regulatory rules, they have put in place some measures to protect investors’ funds. These include membership of the ICF which compensates traders when the broker becomes insolvent. BDSwiss also keep its funds separate from that of investors.
The platform provided is the popular MT4 which is sophisticated and appropriate for all trader levels and all trading style.
BDSwiss also provide a Trader Academy where there are specially prepared courses to train a client through the levels, however is best suited to beginners. The Forex video library is also a great resource that covers market events and there is a good selection of webinars.
There are no bonuses or contests available as a regulated broker.
Pros:
Cons:
A wide selection of over 250 CFD instruments across Forex, commodities, shares and cryptocurrencies
High leverage which goes up to 1:400 (depending on the entity you are registered under), although this should be used with caution by novice traders.
A good selection of platforms which includes the MT4, MT5 and BDSwiss’s own Webtrader which can also be downloaded for mobile.
Daily Live Webinars for traders to choose and follow up on the market moves is a good tool allowing them make questions.
The video academy contains some nicely produced videos, however they may be more suitable for beginners.
The articles and market research is prepared on a weekly basis, could be more regular.
