BDSwiss Review 2024
Website: www.bdswiss.com
Min. Deposit: US$ 10
Leverage: 1:400 | 1:2000
Trading Platforms: MT4, MT5, BDSwiss Webtrader, and BDSwiss Mobile App
Regulation: FSC, FSA, FSCA, MISA
Headquarters:
Founded: 2012
Regulatory Licenses:
- BDS Markets -authorized by the FSC (Mauritius) registration no. C116016172
- BDS Ltd - authorized by FSA (Seychelles) registration no. SD047
- BDSwiss Markets SA (Pty Ltd) - authorized by FSCA (South Africa) license no. 49479
- BDS Investments LTD - authorized by MISA Mwali license no. T2023244
Updated on January 8, 2024
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In our comprehensive review process, we meticulously analyze a wide range of critical factors to provide a detailed and unbiased evaluation of forex brokers. Our method involves a thorough examination of the broker's regulatory status, platform offerings, account types, customer service quality, educational resources, and overall trading conditions. We compare our findings against the performance of over 1000 brokers to ensure a fair and comprehensive review. Our goal is to equip traders with the necessary information to make informed decisions.
BDSwiss is a globally recognized CFD Broker and brokerage firm that was founded in 2012. It quickly expanded its market presence and now stands as one of the leading trading groups in the industry. With over 1.6 million registered clients from more than 186 countries and an exclusive Member club, BDSwiss has established a significant footprint in the forex trading world. Originating from Switzerland, the firm is built on a strong foundation and offers online trading services to a worldwide clientele. Our BDSwiss review will delve into the details, highlighting the broker's long-standing reputation, user-friendly trading conditions, diverse platform options, quick account opening process, and high-quality customer service. However, it's important to note that BDSwiss's trading offerings vary by entity and are primarily focused on CFDs, which may not suit all traders.
BDSwiss Review Summary in 12 Points ▲
Regulation: FSC, FSA, FSCA, MISA
Platforms: MT4, MT5, BDSwiss Webtrader, and Mobile App
CFD Instruments: Commodities, Forex, Metals, Indices, Cryptocurrencies, and Shares
EUR/USD Spread: 0.0 pips
Demo Account: Available
Minimum deposit: $10
Base currencies: USD, EUR, GBP, ZAR
Education: Comprehensive Learning Academy with Forex Courses, Live Webinars, Forex Glossary, Educational Videos, eBooks
Customer Support: Available 24/5
Overall, BDSwiss is rated 4.5 out of 5, based on our extensive testing and comparison with over 1000 other brokers. This rating reflects BDSwiss's strong regulatory framework, diverse trading platforms, competitive spreads, and comprehensive educational resources.
BDSwiss has garnered recognition not only from the trading community but also through numerous industry awards for its operations and trading technology. Among its accolades are Broker of the Year at the Mindanao Traders Expo 2023, Best FX Educational Broker 2023 at the Forex Expo Dubai Awards, Best Global Partnership Programme, and Best Forex Research & Education Provider at UF AWARDS GLOBAL 2023, Best IB/Affiliate Programme – APAC at UF AWARDS 2023, and Fastest Growing Forex Broker Dubai at the Global Banking & Finance Awards 2023. These awards underscore BDSwiss's commitment to excellence in service and innovation in trading technology.
BDSwiss is a legitimate broker with many years of successful operation and a solid reputation in the industry. It holds regulatory registrations with the Financial Services Commission (FSC) in Mauritius, the Mwali International Services Authority (MISA), Seychelles’ Financial Services Authority (FSA), and South Africa’s Financial Sector Conduct Authority (FSCA). While BDSwiss is not regulated in the UK, its global regulatory framework ensures adherence to strict financial standards, offering a level of client protection. However, traders are always advised to conduct their due diligence, especially when dealing with brokers that also have offshore registrations. Our trust score for BDSwiss is 4.2 out of 5, reflecting its good reputation and years of operation, but with certain gaps in top-tier regulations and compensation schemes.
What Leverage does BDSwiss offer? ▲
BDSwiss provides traders with the opportunity to utilize higher leverage, which can amplify potential gains but also increase risks. The default maximum leverage offered by BDSwiss is 1:400, with Dynamic leverage going up to 1:2000 for clients in specific jurisdictions. It's crucial for traders to understand the implications of using high leverage and to approach it with caution. Leverage levels vary by asset and jurisdiction, so traders should check the official BDSwiss platform for the most accurate information and ensure they are using leverage wisely to manage risk effectively.
BDSwiss caters to a diverse range of traders by offering four distinct account types: Classic, VIP, Zero Spreads, and Cent. The Classic and VIP accounts operate on a spread-only basis, whereas the Zero Spread account benefits from interbank spreads coupled with a commission charge per lot, offering traders the flexibility to select the account that best suits their needs. Additionally, BDSwiss provides a specialized StockPlus Account, exclusively available under the FSC entity, designed for investors aiming to build a diversified portfolio with over 1000+ world-leading stocks and ETFs. This account boasts 0% commissions for unleveraged stock investments and offers up to 1:5 leverage for trading stocks and ETFs at Direct Market Access (DMA). During the account setup process, traders can choose their preferred base currency from options including the Euro (€), US Dollar ($), South African Rand (ZAR), and British Pound (£), eliminating currency conversion fees and ensuring protection against negative balance scenarios.
Demo Account
BDSwiss also provides a Demo Account for Forex or CFD trading, enabling newcomers to hone their trading skills using virtual balances up to 1,000,000€/$/£/ZAR. This allows traders to experience the platform's tools, conditions, and spreads firsthand, with access to the Classic, Zero-Spread, VIP, and Cent accounts.
How to open Trading Account
To open a trading account with BDSwiss, follow these steps:
1. Navigate to the BDSwiss Sign In page and enter your personal details.
2. Upload necessary documents for account verification, including a utility bill and ID.
3. Complete a questionnaire detailing your trading experience and expectations.
4. Once your account is activated, you can proceed with funding and start trading almost immediately through the BDSwiss platforms.
BDSwiss's trading fees primarily consist of spreads, with additional charges such as rollovers for positions held overnight and margin requirements. The broker's fees, including funding and administration fees for inactive accounts, are considered average to low, with an overall rating of 4.0 out of 5.0, based on our comparison to over 1000 other brokers. It's important to note that fees may vary by entity, and while most currency pairs have average-level spreads, there are additional fees like funding and rollover to consider.
Does BDSwiss have inactivity fee
BDSwiss imposes a 30 EUR/GBP/USD inactivity fee per month for accounts inactive for more than 90 days.
BDSwiss offers a variety of account types with differing spread and commission structures. The Zero-Spread Account is particularly appealing for larger traders, offering interbank spreads averaging 0.0 for EURUSD and a per-transaction commission of 6$. For a detailed comparison of spreads across different account types and popular assets, BDSwiss's website provides comprehensive information. Overall, BDSwiss's spreads are ranked average, with a score of 4.0 out of 5.0 based on our evaluation.
BDSwiss provides access to a broad selection of over 250 underlying assets, including Indices, Forex, Commodities, Shares, and Cryptocurrencies based on CFDs. The range of available instruments may vary depending on the account type or BDSwiss entity. The platform's user-friendly interface facilitates efficient market selection, contributing to a good trading instrument selection score of 4.0 out of 5.0.
Can I trade Cryptocurrencies
Yes, BDSwiss allows trading Cryptocurrencies based on CFDs, offering competitive costs and spreads for Crypto Trading.
Deposits And Withdrawals ▲
Deposits
BDSwiss supports a wide array of deposit methods, though availability may differ based on country regulations and residence. Popular options include credit/debit cards, bank transfers, and various electronic wallets. The minimum deposit for a Classic account is 10$, significantly lower than the industry average, with no fees charged on credit card/electronic wallet deposits.
Withdrawals
BDSwiss offers a comprehensive range of withdrawal methods, generally processed free of charge unless the amount is below the minimum requirement, in which case a 10$ processing fee may apply. Withdrawals are aimed to be processed within 24 hours during business days, though it's advisable to allow additional time for the transaction to be completed. Withdrawal requests can be submitted through the Client Portal.
BDSwiss offers a solid trading experience via the widely recognized MetaTrader4 platform, alongside other robust trading solutions. Despite MT4's somewhat dated appearance, its comprehensive features and widespread adoption in the industry make it a reliable choice for traders of all levels. In addition to MT4, BDSwiss provides access to a variety of add-ons and strategic options without imposing restrictive limitations, allowing for a diverse range of trading methods including news trading. The platforms are available across multiple devices, including PC, Mac, mobile applications, and web platforms that do not require any installation, enhancing the trading experience with flexibility and convenience. BDSwiss's platforms are exceptionally rated, achieving a score of 5.0 out of 5 when compared against a selection of over 1000 brokers. This high rating is attributed to the integration of popular platforms like MT4 and MT5, as well as the development of its proprietary platform, which is enriched with excellent research tools and resources.
Pros
Wide range of platforms including MT4 and MT5
Availability of proprietary platform with advanced tools
Cons
Some users may find the layout of MT4 outdated
Web Trading
The BDSwiss WebTrader platform is entirely web-based, eliminating the need for downloads or installations, and can be accessed directly from a browser. It features a clean interface and offers powerful analytical tools, including technical analysis and risk management features, enabling traders to leverage the platform's capabilities fully. The WebTrader platform is praised for its comprehensive functionality and ease of use.
Desktop Platform
BDSwiss provides desktop versions of both the MetaTrader4 and MetaTrader5 platforms, compatible with a variety of devices including PC and Mac. The desktop platforms cater to more active or professional traders by offering full functionality. The MT5 platform, being the newer version, is particularly popular for its advanced toolset and comprehensive analysis options, catering to both beginners and professionals with a variety of manual and automated trading strategies through Expert Advisors (EAs).
Mobile Trading Platform
The BDSwiss Mobile App is highly acclaimed by both traders and industry publications for its comprehensive features. It offers essential functionalities for on-the-go trading, including analysis, position management, and account access, earning positive feedback for its convenience and efficiency.
BDSwiss excels in customer support, providing multilingual assistance on a professional level daily. The support team is accessible via live chat and email throughout the working week, 24/5, delivering fast and knowledgeable responses. Based on our evaluation, BDSwiss's customer support is rated 4.0 out of 5.
Pros
Multilingual support available 24/5
Fast and knowledgeable responses through live chat
Cons
Availability limited to weekdays
BDSwiss's Trading Academy is a cornerstone of its client support, offering a range of educational resources suitable for traders at all levels. The academy features forex courses tailored to different expertise levels, along with webinars and seminars aimed at enhancing trading skills and knowledge. Daily webinars, market alerts, and comprehensive research and analysis materials are also provided, making BDSwiss's educational offerings particularly valuable for beginners. The company also maintains an active blog and trader community, fostering knowledge sharing and market insight. BDSwiss's education services are rated 4.5 out of 5.
BDSwiss distinguishes itself with superior research tools and resources designed to improve trading outcomes. The broker offers a variety of general and specialized tools, including economic calendars, market analysis from the BDSwiss Analyst team, Autochartist, and trading alerts accessible to all clients. Additional resources such as Trading Central and Autochartist provide comprehensive market insights through AI indicators, automated pattern recognition, and analyst research. The depth of research tools varies with account types, with VIP and Zero-spread account holders enjoying access to exclusive webinars, performance stats, VIP trading alerts, and more. BDSwiss's research capabilities are rated 4.8 out of 5, offering exceptional value to traders.
BDSwiss has successfully cultivated a client base of over 1.6 million customers through stable trading conditions and a comprehensive range of services. The broker's global appeal, diverse account options, quality education, and outstanding research tools make it a formidable choice for traders of various sizes. However, potential clients should review all trading conditions and regulatory statuses to ensure compatibility with their trading needs. BDSwiss is particularly well-suited for:
Beginning traders
Users of MT4 and MT5 platforms
Those interested in currency and CFD trading
Traders seeking advanced research tools
Traders employing a variety of strategies
Those interested in high leverage trading
Overall, BDSwiss offers a competitive and well-rounded trading environment, underscored by its commitment to education and research excellence.
