BDSwiss Review 2024
United States not accepted.Pros
- BDSwiss maintains its position as a fast execution broker, with speeds averaging 0.06 seconds plus 78.3% zero/positive slippage at the time of writing
- Choice of powerful day trading terminals, including an in-house app with 50+ technical tools, a Trend Analysis feature and an advanced Market Watch window
- The broker continues to offer superb market research with daily expert insights, the Autochartist market scanning tool, and a forex heatmap
Cons
- The lack of a top-tier regulator like the CySEC or ASIC brings down the trust score
- There's a $30 inactivity fee after 90 days which is higher than several top competitors, including XM which only charges $5
- The range of 250+ assets is mediocre compared to most leading brokers which typically offer 1000+
BDSwiss Review
This BDSwiss review provides an overview of the forex and CFD services from BDSwiss to enable you to compare similar brokers. We look at the trading platform, login process and account types, including the RAW account which offers unique trading opportunities and sets BDSwiss apart from rivals.
The broker is a global leader in CFDs and forex trading and has around 1mn client trading accounts.
Trading Platform
The BDSwiss sites default to English language, however, international clients can opt to use the sites in a variety of different languages to suit preferences. It takes less than one minute to register for an account on the platform, so you can be up and trading virtually immediately.
There is not a lot of difference between the layouts of the two BDSwiss sites, although it can be noted immediately that the European site does not offer a Wealth Management option.
It’s easy to navigate around both websites and, if you’re new to trading, you can access the Trading Academy on main BDSwiss site and also on the European site. If you do open a Demo trading account with BDSwiss you need to speak direct to an adviser in order for €10,000 demo trading funds to be added.
You can trade CFDs or forex with BDSwiss and the trading process is clear and concise.
The site offers MetaTrader (MT4) trading and there is complete training available, or you can opt to trade using the BDSwiss WebTrader platform, if preferred.
As you explore their website you will note they offer regular trader webinars, video courses and lots of educational resources geared to traders at all levels. On site quizzes are an added feature of both these sites, and these are great for testing your trading knowledge and confirming you’re ready to start live trading.
Assets / Markets
You can trade a variety of asset classes at BDSwiss, including Forex, commodities, indices, shares and cryptocurrencies. If you’re looking to trade the forex markets, you can choose from all major currency pair CFDs, most of the minor currencies and a number of exotic pairs.
There are over 50 currency pairings to choose from.
The platform offers more than five commodity CFDs, including gold, natural gas and oil. Over 140 equity pairs are available, from four of the most popular international stock exchanges. A variety of indices and cryptocurrencies pairings are also available.
The list of available assets is on the increase with BDSwiss, and you can check out the entire range of asset classes after registration.
A very simple example of forex currency trading would be if you opt for a EUR/USD pair, which is one of the major currency pairings. If you are quoted a price of 1.10 for a EUR/USD pair this would mean you buy 1.10 US dollars for 1 euro.
If the price should then change to 1.20, then this is an indicator that the dollar has become weaker against the euro. If you’d taken a buy position on euros against the US dollar then you would stand to profit from the trade. The goal of any forex trading is to anticipate currency increases or drops in order to profit from sales or purchases.
You can find out more about trading forex and CFDs on our website.
Spreads and Commission
Forex pairs and indices are listed by spread on financial marketplaces. The spread refers to the difference between the bid price (which is what you pay for the asset) and the ask price (which is what you achieve when you sell).
Different assets have differing spread values, which are assessed by pip values. You won’t pay trading fees or commissions on most trades with BDSwiss, instead the trading fees are levied within spreads. Spreads change throughout the day and this is dependent on market conditions and volatility.
Small commissions (0.1%) are charged for stock CFD trades and also when you roll a trade over to the following day.
Different account types offer varying average spreads. These are Basic and RAW with the RAW spread account being the most popular at BDSwiss, even though commission charges do apply.
Leverage
As noted above, you can sign up direct to the Swiss platform for BDSwiss, if preferred. One of the major advantages for traders is that this can offer higher leverage. For example, forex trades can be leveraged at 1:400 on major pairings, while commodities can be leveraged at 1:300.
When you opt to trade with the European platform you’re limited to leverage at levels set by the European Securities and Markets Authority (ESMA). So, for example, forex pairs can be leveraged at 1:30, while cryptocurrencies are limited to 1:2.
Mobile Apps
Both of these platforms offer downloadable mobile apps which are available from the Apple App Store and Google Play. You can also access BDSwiss Web Trader without a download by simply logging into the platform via your Facebook or Google accounts. You can also trade easily from your tablet while on the go, and all asset classes are covered by the BDSwiss mobile platform.
Payment Methods
When you open an account with BDSwiss you can opt for the trading currency preferred, including UK £, US $, Euros, Danish Kr, or Swiss CHF. The platform offers a variety of ways to deposit or withdraw cash, including bank transfers, credit or debit cards, Skrill and Sofortüberweisung (Sofort).
There are no limits on the amounts of cash that can be deposited or withdrawn, although a EUR 10 fee will be applied to bank transfers under EUR 100 and the minimum withdrawal allowed by bank wire is EUR 50, including the EUR 10 fee.
Demo Account
You can learn all about the BDSwiss platform using a Demo account, but will need to speak directly to an adviser to activate your Forex/CFD demo account.
Deals And Promotions
BDSwiss don’t offer deals or promotions on their site, however, traders can benefit from trading alerts and their education and free seminars are really useful for clients looking to expand their financial expertise.
Regulation And Licensing
Visits the BDSwiss website for a full list of regulators and licenses.
Additional Features
BDSwiss is constantly adding to its assets listings, although it doesn’t offer such a comprehensive range as some of the other major players.
One very valuable feature on the platform is the interactive seminars, giving any trader the chance to learn how to trade like a pro and providing insight into lots of different areas. You just need to register your interest in any webinar listed on the platform(s).
With spreads starting at just 1 pip and available leverage up to 400 times your cash investment, this is certainly a broker that deserves serious consideration.
Account Types
BDSwiss accounts include the Classic Account for retail traders, the VIP account, which is offers reduced spreads and the Raw account, which offers even tighter spreads and is the most popular choice.
Benefits vary with each level, with VIP access, charting tools and access to an account manager all dependant on the account type or deposit size.
Note the BDSwiss Islamic account is not available with the Raw account type.
Benefits
Having the option to trade at higher leverages on the Swiss platform is a major advantage of BDSwiss, along with the fact that it’s really easy to register an account. The massive variety of tradable options is also a very positive feature of BDSwiss, for both the Swiss and the European platforms.
Drawbacks
One major drawback with this brand is that it’s necessary to register an account before using the Demo account and training services provided on the platform. Another disadvantage for pro traders is that large trades are not discounted as well as they are at other platforms.
Trading Hours
Once you’ve opened your BDSwiss account you will be able to see all the different trading hours for assets in the Market Overview section of the platform.
Contact Details/Customer Support
The BDSwiss customer support is available via Live Chat from 09.00 to 23.30 five days a week. You can also email the platform via the contact form or at support@global.bdswiss.com. Telephone numbers in a variety of countries are listed on their website, for clients who prefer to chat about any issues.
Safety And Security
Safety and security of clients and the prevention of fraud is important to BDSwiss. All new clients need to send proof of identity prior to being allowed to access the platforms.
Accounts are password protected and BDSwiss guarantee all customer details are encrypted and maintained confidential. No third parties can access client data.
Overall Verdict
Finally, the BDSwiss platforms offer a wide range of equities and commodities for traders.
The platforms are relatively easy to use and the regular trader seminars are a very useful feature for clients wanting to learn more about day trading.
The site offers a useful charting function for trading, in either Candlestick or Line format and you can opt to add in your own preferred indications, from a wide available selection on site. Forex traders will also find the platform offers lots of advanced features for technical analysis and decision-making.
Top 3 Alternatives to BDSwiss
Compare BDSwiss with the top 3 similar brokers that accept traders from your location.
- IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
BDSwiss Comparison Table
| BDSwiss | IG | Interactive Brokers | World Forex | |
|---|---|---|---|---|
| Rating | 3.8 | 4.7 | 4.3 | 4 |
| Markets | CFDs, Forex, Stocks, Indices, Commodities, Crypto | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $10 | $0 | $0 | $1 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | $100 | 0.01 Lots |
| Regulators | FSC, FSA | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | SVGFSA |
| Bonus | – | – | – | 100% Deposit Bonus |
| Education | No | Yes | Yes | No |
| Platforms | BDSwiss Webtrader, MT4, MT5 | Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral | MT4, MT5 |
| Leverage | 1:30 | 1:30 (Retail), 1:250 (Pro) | 1:50 | 1:1000 |
| Payment Methods | 10 | 6 | 6 | 10 |
| Visit | – | Visit | Visit | Visit |
| Review | – | IG Review |
Interactive Brokers Review |
World Forex Review |
Compare Trading Instruments
Compare the markets and instruments offered by BDSwiss and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| BDSwiss | IG | Interactive Brokers | World Forex | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | No | Yes | No | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | No | No |
| Silver | Yes | Yes | No | Yes |
| Corn | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes |
| Futures | No | Yes | Yes | No |
| Options | No | Yes | Yes | No |
| ETFs | No | Yes | Yes | No |
| Bonds | No | Yes | Yes | No |
| Warrants | No | Yes | Yes | No |
| Spreadbetting | No | Yes | No | No |
| Volatility Index | No | Yes | No | No |
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