Hi AlexBrown,
Thanks for your message.
BDSwiss can be suitable for day trading. We scored it 3.8/5 in our review, which is pretty good, though not as high as DayTrading.com’s best brokers for day trading.
Its strengths for short-term traders include:
- Robust charting platforms for technical analysis, including industry favorites MT4 and MT5.
- Leverage up to 1:2000 which can amplify returns, though it can also lead to substantial losses so risk management is essential.
- Fast execution speeds of around 66.5 milliseconds which can help active traders secure desired prices in fast-moving markets.
However, day traders should also take note of several drawbacks:
- Pricing in the Classic account trails the cheapest brokers with spreads of 1.6 pips on the EUR/USD for example.
- Although BDSwiss is regulated in Europe, it also runs offshore entities with weak regulatory safeguards, while the FCA ordered it to stop providing trading services to UK residents.
- It only offers around 250 instruments, limiting potential trading opportunities for advanced traders who can find thousands of instruments at alternatives like IG.
Overall, it wouldn’t be my first pick for day trading.
If you do want to use BDSwiss, starting with the demo account could be sensible.
