BDSwiss is a trusted global brand best known for offering traders an extensive selection of trading conditions. Our testing found BDSwiss to be great for automated trading and mostly in line with the industry average for pricing and research, as well as a winner for investor education and market research.
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 RAW and black accounts which offer unique trading opportunities and sets BDSwiss apart from rivals.
As the name suggests, BDSwiss is based in Switzerland, and does offer clients opportunities to register with its Swiss site or the European platform.
The first time you access the website you will be notified that you can opt for either of the two sites and advised that BDSwiss is regulated by the Financial Services Commission (FSC). The broker is a global leader in CFDs and forex trading and has around 1mn client trading accounts.
BDSwiss was launched in the Zurich area in the year 2012. The business currently has more than €20bn in forex trades each month and is a global provider with over 16,000 affiliate accounts. BDSwiss is licensed by CYSEC in the EU, the National Futures Association in the United States, and the FSC.
Group companies include BDSwiss Holding plc, BDSwiss LLC, BDS Markets and BDSwiss GmbH. Business affiliates are known as partners and can access a variety of services, additional knowledge base and community forum direct on the platform.
As noted, when you initially access the BDSwiss website, you are advised of the fact that the site is operated out of Switzerland, even though the business is licensed in the EU. You need to make a decision on whether to cancel and be redirected to the European trading platform, or continue on to the Swiss site. This decision is also confirmation that you have not been under any form of compulsion and are visiting BDSwiss under your own initiative. We’ll be taking a look at the difference between the two trading sites in more detail below.
Both 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 it’s an easy matter to place a trade on both these websites. 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.
BDSwiss trading platform
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 what BDSwiss term “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, RAW and Black accounts, with the RAW spread account being the most popular at BDSwiss, even though commission charges do apply.
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.
BDSwiss in numbers
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.
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. 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.
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
BDSwiss is a fully regulated CYSEC broker, with license number 199/13. The company is also regulated and authorised by the US National Futures Association, authorised as an investment dealer by the FSC and authorised by German regulatory authorities. One factor to note is that the platform does apply dormant account fees for clients that are inactive for six months or more and this is pegged at a maximum limit of EUR 78.9. The broker is also registered with the investor compensation fund, as noted above. With around 1mn active traders at any time, it has to be said that BDSwiss is one of the most trusted traders in the European and global marketplace.
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.
BDSwiss accounts include the Basic Account for retail traders, the RAW account, which is their most popular offering, and the Black Account for pro traders, which also features Islamic trading if needed.
BDSwiss Account Types
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.
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.
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 email@example.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.
Finally, the BDSwiss platforms offer a wide range of equities and commodities for traders. Retail traders looking for higher levels of leverage than are available under ESMA regulations will be particularly impressed by the margins offered by the Swiss platform.
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.
BDSwiss accepts traders from Australia, Thailand, Canada, United Kingdom, Singapore, Hong Kong, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use BDSwiss from Belgium, Congo, Cyprus, United States, India, South Africa.