Is BDSwiss a Scam? Read This Brutally Honest Review

This is the first sign that the brokerage is not a scam and actually looking to do business in legit and fair conduct. But despite all this, there are a lot of BDSwiss clients that are complaining about delayed withdrawals, which makes us recommend caution but also to thoroughly read their Terms And Conditions. Justin is an active trader with more than 20-years’ industry experience of working for big banks and hedge funds. He has an inside knowledge of how the financial markets work, thanks to roles including trader on a $750m Event-Arbitrage desk and CRO and COO of hedge funds running a variety of strategies. From stat-arb and trend-following CTA to fixed-income relative value. Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D.

An inactivity fee of 10% of the account balance (which will range from €25 to €49.90 or account currency equivalent) will be charged after 90 days. If your trade size is bigger and the one who prefers a commission basis then Raw Account is your choice. The Raw account offers an interbank spread and commission bdswiss forex broker review paid per transaction opening which is 5$. BDSwiss Classic and VIP account fees are all included in the spreads and commissions charged when conducting trade of commodities and cryptos etc. and vary according to the account type you select. Binary options when one trades is also a high-risk investment tool.

• Also, BDSwiss offers great research tools and charting tools for market research and supporting traders with unique materials making you a better trader.
• A trading account aimed at beginners, the BDSwiss Cent Account only requires a minimum deposit of 10 USD and the trading balance is measured in cents rather than dollars.
• Additionally, you’ll also have to complete an Appropriateness Assessment Test and an assessment of your economic situation.
• You can trade Cryptocurrencies based on CFDs also with quite good costs.
• The Trading Academy offers new clients a well-rounded introduction to trading.

BDSwiss offers great research tools and supports traders with unique materials making you a better trader. Besides to general and popular tools alike Economic Calendars, quality market Analysis provided by BDSwiss Analyst team, there is also access to Authochartist and Trading Alerts available to all clients. BDSwiss has paid a lot of attention to mobile apps which allow you to trade from any location which has Internet access. The mobile version of the platform differs from the desktop version only in location and size of the interface elements; otherwise, it offers a virtually identical set of features and operates just as fast. The app is automatically synchronized with the web platform in real time, which means you can use both of them interchangeably with the same BDSwiss account.

Diverse Trading Platforms of BDSwiss

Assets / Markets You can trade a variety of asset classes at BDSwiss, including Forex, commodities, indices, shares, and cryptocurrencies. To start trading with BdSwiss, you need to open an account and make a deposit. There is a demo account available so that you can test out the platform before investing any money. As far as platforms are concerned, BD Swiss offers the standardized Meta Trader 4 which comes with all the fancy trading options. It seems that the MT4 optimizes trading results and gives a better chance of winning with minimum or no latency, auto-trading, and easy access.

However, the Forex trading platform is different and much more advanced. You could compare it to MetaTrader 4(MT4) with loads of indicators, technical tools, and many more settings that help ease up traders’ journey. Proprietary BDSwiss WebTrader is fully based online, so you don’t need any downloads or installation and may access trading right from your browser. The platform has a clean view and quite comprehensive and powerful analysis features including technical analysis and risk management tools. So even by the use of WebTrader you can make full out of trading, see trading snapshot below.

There are a few exceptions, though, like if you wish to withdraw a sum of less than $100, €100, or £100. Any bank wire withdrawals under €100 and any other types of withdrawals totaling €20 or less will be charged a fee of €10. The minimum deposit for a Classic account at BDSwiss is 100 USD, which is a good amount for some traders and rather high for others. BDSwiss does not impose any fees for credit card or e-wallet deposits (albeit this varies by entity laws).

BD Swiss Review: The Broker that combines Forex and Binary Options

The process of opening an account on BdSwiss  is very easy and straightforward. You just need to fill out a form with your personal details and choose a password. Once your account is open, you can make a deposit and start trading. The BDSwiss Deposit Bonus is a bonus of up to 100% on your first deposit, available to all clients who make a deposit into their BDSwiss account.

BDSwiss has an average monthly trading volume of $84 Billion which earned them a trust score of 94 out of 100. BDSwiss is fully regulated by the Financial Services Authority (FSA). From market insights and technical analysis to special reports and weekly outlooks, BDSwiss has everything an investor will ever need to trade with confidence and market knowledge. Uniquely, there are no currency conversion charges for trading in a currency that differs from your depositing currency. BDSwiss merely makes the conversion for you with no additional cost. BDSwiss does charge overnight fees for positions held over a 24-hour period and these swaps are variable too.

Additionally, BDSwiss’ offers its clients account statements regularly audited by external audit firms. Founded in 2012, BDSwiss is a responsible and well-regulated broker with a large international customer base. It offers trading on multiple instruments, including Forex, commodities, shares, indices, and over 26 cryptocurrencies, a much wider range than other https://forexhero.info/ brokers. The Raw account type features a $5 flat commission, significantly lower spreads – 0.5 average for major currencies -, and everything the VIP account offers – which is just about everything the Classic account offers. Both the Classic and VIP account can be opened as an Islamic Swap-Free Account which will accrue no interest on deposited account funds.

BDSwiss Review 2023

For the demo account, you need to register and contact your account manager in order to have demo funds added to your accounts. Also, you may compare BDSwiss fees to its peer XMtrading and other popular brokers listed and have BDSwiss review consequently before jumping to any conclusions. They take advantage of this, send you to Viverno app, then Viverno closes, and I am sure the holding will drop another trading app with different responsible and continue the game. I deserve an explanation and they should cover half of my losses, same as they expect to earn while working, they should expect to loose when leaving customers hang while closing activities.

They have a whole range of video content which they have brought into the BDSwiss trading academy structure and broken into three distinct levels, beginner, intermediate, and advanced. This means no matter what your skill level, this forex broker has something on offer to help you develop. As the broker mentions it is always aiming to give withdrawal service within 24 hours, yet this is applicable towards working business days, as on weekends or holidays it may take longer to proceed. Best ever Broker in my 8 years experience.Excellent support.Excellent deposit and withdraw methods.i recommend this broker to everyone.Trust worthy.

These tools are offered free of charge to all BDSwiss registered clients. BDSwiss trading platform arsenal includes both MT4 and MT5 and its own BDSwiss Webtrader platform, which provides beginner traders an excellent trading experience. With MT4, MT5, and BDSwiss’ own proprietary platforms available, BDSwiss offers support for more trading platforms than most brokers. Overall, BDSwiss provides a range of payment methods, and although deposits are free, BDSwiss charges high withdrawal fees for low withdrawal amounts, which is not common in the industry. BDSwiss charges no deposit fees but charges high withdrawal fees for certain payment methods. The minimum deposit on the commission-free Classic Account is 100 USD, with variable spreads starting at 1.50 pips on the EUR/USD (which is wider than the industry average).

Such an account will be subject to a monthly charge of 30 Euro or base trading account currency equivalent until the trading account balance is zeroed. Overall, BDSwiss is a well-regulated and trustworthy broker who have grown quickly in recent years to being one of the top names in the sector. This solid foundation has given them the platform to attract a wide variety of traders with award-winning trading platforms and a competitive range of trading costs. BDSwiss are predominantly focused on offering commission-free trading. The only account type the broker has which does include a commission is their BDSwiss Raw Account. Even though this account type does charge a commission, it is very competitive at just $5 per lot on a round-turn trade.

However, is offshore regulated by Seychelles Financial Services Authority (FSA) and there are some negative reviews from their clients saying that they have met severe slippage and unable to withdraw. Every trader should be cautious before trading or investing with a broker. A well-regulated market maker/STP broker, Bswiss offers trading on multiple instruments, including Forex, commodities, indices, shares, and 26 crypto pairs, which is a wider range than most other brokers. Trading costs are higher than average on two of its three accounts, but improve significantly on the Raw Account, in exchange for a high minimum deposit requirement. There is a large variety of assets to choose from including forex, stocks, indices, commodities, and cryptocurrencies. The minimum deposit is high in some accounts compared to other brokers but it is still worth it considering all the features that the broker offers.

Traders have access to Autochartist and the BD Swiss trading academy. Both MT4 and MT5 trading platforms are broadly available and accessible to all BDSwiss clients. Specific key differences are noted between the platforms and the trader may need to consider them when choosing their desktop platform. BDSwiss does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. With no commissions and low to average spreads on more than 250 CFD assets, BDSwiss is a very affordable trading platform. Classic account holders can start with only $100, and trading can begin with as little as 0.01 lots.

Deposits and Withdrawals

The demo account is available with a $10,000 initial deposit after registering your BDSwiss account to test the WebTrader platform, MetaTrader4/MetaTrader5, or mobile app. Furthermore, the balance of your demo account can go back to its original number of $10,000 by resetting it. BDSwiss charges no fees for deposits and withdrawals made via credit card. BDSwiss charges a flat fee of 10 EUR for bank wire withdrawals less than or equal to 100 EUR. BDSwiss does not charge any commissions on trades except Raw account.

The reason that US citizens cannot trade with BDSwiss is largely due to tax purposes. If you’re trading from outside of the US but are still a US citizen for tax purposes, you still won’t be able to open a BDSwiss account. Other countries that cannot open a BDSwiss account at the time of writing are Belgium, Congo, Cyprus, India and South Africa.

It is offshore regulated by Seychelles Financial Services Authority (FSA), offers negative balance protection and segregates client funds. However, it is important to note that all trading carries risks, and clients should always do their own research and take appropriate precautions. As an EU trader you may also be covered through the ICF insurance which the broker provides up to the value of €20,000 in situation of similar financial difficulties on the broker side. BDSwiss both recognize and work to prioritize your safety and security as a trader. To this end, they are regulated by 4 bodies around the world, some of which are considered top-tier regulators who implement rigorous compliance procedures to ensure the most transparent trading environment for you as a trader. The regulations in place at BDSwiss come from CySEC, one of the most respected bodies in the industry, and also from the FSC in Mauritius, and FSA in the Seychelles catering from more flexible off-shore regulation.

BDSwiss received a low score in our Trust and Stability category as the broker is regulated by Tier-3 regulators, which offer lower levels of protection in comparison with the Tier-1 regulators. The broker operates via BDS Markets, which is regulated by FSC Mauritius, and BDS Ltd, which is regulated by FSA Seychelles. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. The Russia-Ukraine conflict has triggered turmoil in the financial markets, and drastically increased uncertainty about the recovery of the global economy. As Russia continues to wage war on neighbouring Ukraine, there’s a second war front that’s been wreaking havoc on the markets and will probably continue to do so even after the much-anticipated end of the war in Ukraine. The financial war unravels on a global scale and involves hefty tariffs, import and travel bans, and asset seizures between the West and Russia.

BDSwiss is also regulated by the Financial Services Commission of Mauritius which allows the broker to offer non-EU residents more flexible leverage options. There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk. BDSwiss brokers platform works with different kinds of payment service providers which makes it applicable to cover a wide range of different deposit methods around multiple countries.

Currently, BDSwiss account holders from 185 countries can trade in a choice of cryptocurrencies of 10 cryptocurrencies 24/7. As well as BDSwiss bitcoin trading, account holders can also trade in DASH, Ethereum, Ripple and more. The initial process is extremely quick, however, you won’t have trading capabilities until your account has been fully verified.

With that being said, it is great to see how transparent the broker is regarding this temporary issue. The broker does not shy away from informing potential new clients that they will need to wait before they can sign up to a new account. In the meantime, potential clients are free to roam around the website freely and learn about what BDSwiss has to offer. BDSwiss have been around for almost a decade and in that time have amassed more than 1 million active trading accounts and average monthly trading volumes of more than $84 billion. BDSwiss received a high score in the Education category in our rating as it provides a high number of webinars and educational videos, which are suitable for both beginner and advanced traders. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.