BDSWISS Review – A Trusty Forex & CFD Trading Platform & App
This BDSwiss review is written to familiarize yourself with this award-winning broker.
BDSwiss has been operating since 2012 as one of the leading financial brokers of Europe.
Even though binary options were initially offered, they offer Forex, Cryptocurrency, Shares, Indices, and Commodities, and more.
It is one of the few brokers that have stood the test of time offering premium trading experience to their traders.
However, you might wonder why should you choose this broker among the vast collection of brokers that are available today.
And off course, there is the important question that can you trust this broker? Read this review to find out the answers.
We will take a in-depth approach in investigating the features of this broker where we discuss about the brokers
BDSwiss Review: What is BDSwiss?
The founders of BDSwiss were in Kilchberg, Switzerland when they had the idea to open a trading platform in 2011.
Hence they named their company BDSwiss. When they were established in 2012, they only offered binary options in their portfolio.
After they redesigned their website in 2016, they added forex and CFD trading and no longer offered binary options due to changes made by ESMA.
In the year 2017, they launched their mobile trading app for both Android and Apple devices. This is the brief history of BDSwiss’s company activities.
Currently, they are one of the largest brokers offering forex and Crypto CFDs along with other assets.
There are more than 1 million registered BDSwiss users and this number keeps growing every day.
The monthly forex trading volume exceeds 20 billion. BDSwiss offers over 250 assets to trade with.
BDSwiss also excels with fast withdrawals with average withdrawal time is within 5 hours.
When it was established in the year 2012, only 130,000 transactions were processed.
In 6 years, the number of transactions increased to almost 10 million in 2018!
BDSwiss offers an excellent partner program for affiliates. There are more than 16000 affiliates and their average monthly payouts exceed €1.5 million.
In European Union, BDSwiss is a licensed brand of BDSwiss Holding Plc, which is a Cyprus based investment firm. It is located in Apostolou Andrea Street 11, Hyper Tower, 5th Floor, 4007 Mesa Yeitonia, Limassol, Cyprus.
Globally, BDSwiss is operated by BDS Markets which is situated in 6th Floor, Nexteracom Building, Ebene, Mauritius.
Why choose BDSwiss?
There are many brokers offering their own trading platform and services.
You must be wondering why to choose BDSwiss as your preferred trading broker.
We list out the key features of BDSwiss you can be informed about their services:
Regulation: FSC (Non-EU), CySEC (EU)
Minimum Deposit: €/$/£200
Trading Assets: 250+
Leverage: Up to 400:1
Spreads: 1 pip (EU), 0.4 pips (Non-EU)
Max Lot Size: 50
Min Lot Size: 0.01
Min Position Size: 0.01 Lot
Account types: Basic, Raw, Black
Trading Platform: MT4, MT5, WebTrader, Mobile
- Reputed regulated broker with 7+ years experience
- Fast deposit and withdrawals
- Multi-language support
- Extensive educational support
- Mobile app available
- Real-time economic calendar
- Multiple payment options
- Demo account offered
- Small lot size
- Multiple trading platforms.
- Islamic Account offered
- Negative balance protection
- Free Webinars
BDSwiss is regulated by four different regulatory bodies under different regions. The different licenses and regulation of BDSwiss are:
- BDSwiss Holding PLC: Authorised and licensed by CYSEC (EU) (License No. 199/13)
- BDS Markets: Authorised and regulated as a Investment Dealer by the FSC on 06/12/2016 (License No. C116016172)
- BDSwiss GmbH (Registration No. HRB 160749B) is the registered Tied Agent of BDSwiss Holding PLC in Germany.
- BDSwiss LLC : Authorised and registered with the U.S. National Futures Association NFA ID: 0486419
As BDSwiss is a Cyprus Investment Firm, it has to follow all the European laws and regulation including the Markets in Financial Instruments European Directive (MiFID II).
BDSwiss Sign-Up And Login Process
Here, you will find the sign-up and login process for BDSwiss account creation.
Creating an account in BDSwiss is a hassle-free and easy process.
Click on the ‘Sign Up’ button below and follow the instructions.
Upon clicking the Sign-up button, you will be directed to the sign-up page. Here you have to fill in your full name, telephone number, email address, password, and country.
Click on tick button to verify you are over 18 years old and that you accept the terms and conditions of BDSwiss.
Click on the submit button and your account will be created.
You will be asked to choose between a real trading account and a virtual account. After you make your choice, you will be transferred to the trading interface window.
Your account creation is completed and you can start trading. To log in again, use the email and password used in account creation.
Once you have created your account, you can login using your email ID and password.
Additionally, you can use your Facebook and Google ID to log in. However, you will need to provide your phone number to verify your account.
In order to verify your account, you need to provide the following information:
- Proof of identification: A scanned copy of either your passport or identity card. It has to be valid and not expire within 3 months.
- Proof of address: A scanned copy of any utility bill or bank statement that won’t expire within 6 months.
- KYC and Appropriateness Test: You must answer all the questions in the appropritateness test.
BDSwiss Demo Account
BDSwiss offers a free demo account to its users which can be used indefinitely.
Some brokers offer demo account for a limited period of time but this is not the case for BDSwiss.
You get $10000 virtual equity to practice trading. All the features of the real account are offered and you can use any of the platforms (Web, desktop, and mobile) for demo trading.
A demo account is important for a number of reasons. Firstly, you can access the features of the real trading platform and place trades without any risks.
If you like trading on it, you can switch to the real account.
Secondly, you can practice trading in a virtual environment to improve your trading skills and practicing different strategies.
BDSwiss provides 3 different account types to their traders: Basic, Raw, and Black.
We will give a quick rundown of the features of each account type:
Min. Lot size: 0.01
Commission charges: No
Education Material: Free
Trading Alerts: No
Min. Lot size: 0.01
Commission charges: Yes
Education Material: Free
Trading Alerts: No
Min. Lot size: 0.01
Commission charges: No
Education Material: VIP
Trading Alerts: VIP
This account is their standard account. It is recommended for beginners to start trading with this account.
The minimum deposit is $200 and the minimum lot size is 0.01. Hence the low requirements are perfect for new traders.
Traders can enjoy leverage of up to 400:1. They also get access to free education material, trading tools, webinars, Islamic account, and various other facilities.
RAW Spread Account
The raw spread account is the most popular account of BDSwiss and for a good reason. The spreads here are lower compared to the other account types.
The maximum leverage gets up to 400:1 and the minimum lot size is 0.1. The max lot size is 50. Other free materials are also offered here. The minimum deposit is $1000.
Keep in mind that raw spreads apply only in the case of forex, energies, and metals.
Commission charges apply in the case of this account.
Black account is considered as the premium account of BDSwiss.
Here, traders get to enjoy certain exclusive benefits such as VIP education material, VIP support, VIP trading alerts and a free virtual private server.
The minimum deposit is $5000 and the max leverage offered is 400:1. The minimum lot size is at 0.1.
On an average, $5.3 trillion worth of forex transaction happens in the forex market. BDSwiss offers major forex pairs along with other pairs. The spreads differ from pair to pair. They are low and usually lie between 1-2.5 pips.
If you want to trade in low amounts, BDSwiss offers lot sizes as small as 0.01. You can enjoy up to 400:1 leverage on these pairs. Some of the popular forex pairs include EUR/USD, USD/JPY, EUR/JPY, GBP/USD, AUD/USD, and many others.
Trade common commodities such as gold, silver, copper, natural gas, oil, and coffee using BDSwiss. You can trade these commodities as CFDs. With leverage up to 300:1 on commodities. Spreads are as low as 0.3
You can trade 12 indices as CFDs on BDSwiss. Get up to 100:1 leverage on indices spreads start from 1.
You can trade over 140 shares from top global brands. Spreads start from 1 and get leverage up to 5:1. Some of the top shares such as Apple, Google, Amazon, Facebook, and Microsoft are available on BDSwiss.
More than 10 cryptocurrencies are offered by BDSwiss. The cryptos include Bitcoin, Ethereum, Dash, EOS, Bitcoin Cash, ZCash, Monero, Omisego, IOTA, Ripple, and NEO. The minimum lot size is the same as others at 0.01 and the spreads start from 1. Leverage on cryptos is up to 5:1.
BDSwiss Trading Platforms
BDSwiss has its trading platform in MetaTrader. Initially, it also offered to trade in SpotOption but SpotOption terminated its operation on January 2018.
You can trade on Meta Trader 4 and MetaTrader 5 which is offered on Windows, Mac, and Web. Additionally, you can trade on the mobile app which is offered on Android and iOS.
We will take a look at the different platforms for BDSwiss.
MetaTrader 4 & MetaTrader 5
MetaTrader is the most popular and powerful trading platform. It was developed by MetaQuotes Software and released in 2005. BDSwiss offers to trade in MetaTrader.
MetaTrader offers its platform in both desktop and mobile. It is supported by Windows, Mac, and Linux on the desktop.
For mobile, both android and apple are supported. Both the MetaTrader 4 and 5 interface contains a wide array of features that we’ll discuss here.
When you open an account in BDSwiss, you are given a login ID for entering a server. You can use the same password that was used for creating the BDSwiss account. Upon entering these credentials, you are connected to the server and can start trading. This server contains all the market data, news, and quotes.
Any changes you make are updated on the server. Demo account users and real account users have different servers.
MetaTrader has a very intuitive user interface. It is filled with features and tools that assist traders. Even first-time traders shouldn’t face any difficulty in placing trades. Upon opening the platform, users are greeted with multiple charts of different assets in the chart window. By default, there are six charts. You can customize this window to your preference. These charts show the price fluctuations with respect to time.
The timeframe can be customized at different time intervals. The time interval ranges from 5 minutes to a monthly interval. The charts can be represented in three ways. Bar chart, candlesticks and line chart.
Market Watch Panel
On the top left portion of the interface, we have the market watch panel. The bid and ask prices of the most popular trading assets BDSwiss are listed here.
By right-clicking on any of these instruments, you can order a position. The order window pops-up which contains the name of the instrument we wish to trade, its volume and options to add stop loss or take profit. By adding a stop-loss, our positions are automatically closed by the broker when the price reaches a certain value.
Just below the market watch panel is the Navigator panel which allows you to view Accounts, Indicators, Expert Advisors and scripts. Under the accounts option, you can view your account status and login info. You can also open an account, log in to Web Trader or MQL5 community and register for a virtual server.
Market indicators are purchased from a market offered by MetaTrader. These indicators cost money and are capable of performing far more complex tasks. MetaTrader has the most comprehensive list of indicators amongst all brokers.
Data window contains relevant information on the asset you’re trading in. You cannot perform any trading actions here and it only serves its purpose as an information window.
You can view date and time at which the position was opened, the OHLC data and the volume of the asset being traded.
This multi-functional window sits at the bottom of the trading platform. It contains various terminal tabs such as Trade, Exposure, Trade History, News, Alerts, Mailbox, Market, and Signal.
BDSwiss Web Platform
The web platform is also provided by MetaTrader with similar features to the desktop app.
However, it has some differences in the design and the layout of the interface.
Once you log in to the web interface, you are greeted with a clean and eye-catching interface. The first thing we notice is the asset index.
Once you choose an asset type, all the available assets under that category will be displayed.
The ‘buy’ and ‘sell’ button is placed next to it. Clicking on either of these pops up the trade window where you can place your trade.
Relevant information such as the current price, spread, and the leverage is displayed. To place a trade, choose your position, the amount in Euros, add risk management features such as take profits and stop profits and finally, click on place trade.
BDSwiss Mobile App
The BDSwiss mobile app is offered in both Android and the iOS. Like the web platform, the mobile app has a very clean and attractive user interface.
It has one of the smoothest interfaces amongst all the mobile trading apps we have used.
Placing trades is fast and convenient. The menus and toolbars are well-organized and the information is clutter-free and easy to interpret.
It has seamless integration with the web platform, so any trades you place there is instantly updated in the mobile app.
The app feels light and smooth to use. It also offers notifications on any important updates.
Wealth Management Program
The BDSwiss Wealth Management Program is designed to provide expertise in managing investments, diversifying portfolio, and maximizing the usage of capital.
You need a BDSwiss Managed Account to join the wealth management program.
There are seasoned fund managers who will invest capital on trader’s behalf. The process is described below:
As an investor, you can choose one or more fund managers. The fund managers are sorted on the basis of certain performance metrics.
This includes their success rate, strategy, and total profits.
Fund manager utilizes the funds provided by the investors and use these funds to trade in the global market.
Profit and losses will be allocated everyday. You can monitor the whole process from your account dashboard.
Fund manager decides when the profits are to be withdrawn. The investor will need to pay a certain percentage of his profits to the fund manager as performance fee.
Trading Education & Analysis
BDSwiss offers some of the best educational material amongst all the brokers.
Traders get access to trading academy, webinars, and analysis tools. We will take a look at each of them in this section.
It consists of video courses that are designed for beginner, intermediate, and advanced traders.
These video courses cover topics from basics of forex and CFD trading, chart analysis and trading, MT4 tutorials, different types of assets to trade, analyzing trends and potential triggers, how to use trading tools.
Advanced topics such as using indicators to identify trends, proper trading strategy, developing money management and risk management strategies are also covered.
Apart from these video courses, there are other resources such as
- Forex glossary
- Trading lessons
- Market news and articles
- Forex videos
- Daily webinars
- One-on-one VIP sessions.
BDSwiss conducts webinars on a regular basis. These are free to attend and helpful for traders, especially new ones.
Conducted by trading experts, the webinars covers topics from strategies, trading tips, and just enriching your trading knowledge in general.
Apart from the daily webinars, there are special webinars during special events.
The list of webinars is displayed on their website under the webinars section.
You have to register beforehand to attend these webinars.
These webinars will help you interpret charts, formulate trading strategies, and watch expert traders perform live trading.
Analysis and Tools
BDSwiss contains a comphrensive list of analysis tools that assist traders in trading. We will take a look at the various analysis tools provided by BDSwiss:
Economic Calendar: The BDSwiss economic calendar serves as a one-stop solution for all the latest economic data. You will find the biggest financial announcements that will help you to make trading decisions.
You can filter these events based on date, country, and importance.
Trading Alerts: You can receive trading alerts from BDSwiss via their telegram channel. These trading alerts from free analysis on possible price direction along with entry and stop levels.
You can get an idea of what professional traders think and analyse before opening a position.
Economic News: The economic news section market news of forex, commodities, and other assets. These news will help you trade more confidently and assist you in decision making.
Trader’s Journal: This section contains a list of articles that cover all topics from market outlook, to share news, crypto price updates, and asset analysis.
Market Outlook: Market Outlook is the yearly report prepared by BDSwiss experts and analysts on the forex/CFD market. You can download this report by providing the necessary information.
Autochartist: It is an intuitive and user-friendly interface that monitors the market 24 hours a day and sends automatic alerts to traders whenever new openings are detected.
You use this, you need to provide your account details and request access.
Deposits and Withdrawals
As with any broker, deposits and withdrawals are very important. Hence, we have described the deposit and withdrawal method here.
BDSwiss offer safe and secure deposit to your trading account. To ensure safety, BDSwiss provides data encryption and SSL protection.
There are multiple ways (150+) to deposit money into your BDSwiss account.
The minimum deposit amount and the time it takes to deposit that amount depending on the deposit method.
The deposit methods include credit card, Neteller, Skrill, Wire Transfer, Bitcash, Ethereum, Bitcoin, and more.
You can make deposits in the following currencies: EUR (€), USD ($), GBP (£), PLN (zł), DKK (kr), SEK (KR), NOK (KR) and CHF (Fr.).
Withdrawals follow the same rule of deposits. BDSwiss recommends wire transfer as their preferred withdrawal method as it the most secure transfer method.
The withdrawal fee depends on the bank chosen by the trader. You have to withdraw a minimum of €50 using wire transfer.
The withdrawal processing happens within 24 hours but it can take 2-7 business days to receive the money.
The average withdrawal time is 5 hours as per their claim.
For SEPA transfers there is a minimum withdrawal amount of 5 EUR after the deduction of the 10 EUR basic fee.
If the customer withdraws less than €100 in their account, then withdrawing any amount will incur a fee of minimum €25. There is no maximum withdrawal amount.
You can cancel withdrawals by sending an email or contacting BDSwiss via telephone.
You need to verify your account before you can order a withdrawal request.
BDSwiss is a popular and well-known broker. There are hundreds of thousands of customers who are extremely happy with their service.
From our personal use of this platform, we have not faced a single issue or a complaint.
However, there are a few complaints that some users have been facing. We shall list them here:
Account Manager complaints
Some users have complained that their account manager made them lose money on bad trades.
They advise traders to invest money in certain trades claiming them to be profitable but the traders end up losing money.
Our advice would be to trade by yourself and not depend on anyone else for trading success.
Again, this is a complaint that is common with all brokers. The delay usually happens from the bank the trader is dealing with.
BDSwiss processes all the withdrawal delays within 24 hours.
Pros and Cons
Here are the pros and cons of this broker:
- Strict regulation makes BDSwiss a reliable trading platform
- Over 250+ trading assets to choose from
- Low deposit fee
- Low investment fee
- Reliable customer support with centers in 7 countries
- Attractive programs for affiliates
- Highly rated trading platform
- Mobile trading is fast and simple
- Fast deposit and withdrawals with multiple transaction options.
- Multi-lingual support
- Offers negative balance protection
- Low spreads and high leverage
- Offers multiple trading accounts along with Islamic account
- Low lot size allows small traders to trade comfortably
- No hidden fees in the transactions.
- Registered in all European countries
- Comprehensive educational center offering guides, webinars, and videos
- Trading platform available in the web, MetaTrader, and mobile.
- Trade execution happens instantaneously with no delays.
- No tournaments
- Binary options not offered anymore
- No proprietary trading software
You can contact BDSwiss via email or telephone.
BDSwiss has telephone support in 7 countries such as Germany, Spain, Italy, Greece, France, the United Kingdom, and Australia.
Other contact methods include whatsapp, telegram, e-mail, and live chat.
They offer support in more than 15 languages. We are really satisfied with their customer support and service.
Is BDSwiss Legit Or A Scam?
After reading our review, you can come to the conclusion that we highly recommend this broker.
We are very satisfied with their trading platform, features offered, a vast variety of trading assets, customer support, and fast transactions.
To answer the question we asked at the beginning of the article, yes you can trust this broker.
BDSwiss has our earned our seal of approval.