BDSwiss review of licensed forex broker

BDSwiss is regulated in Seychelles by the Financial Services Authority (FCA) and by the Financial Services Commission of Mauritius (FSC).

BDSwiss has been in operation since 2012 and advertises that it hosts more than 1.5 million user accounts from 186 countries. It has more than 10 global offices and totals more than $84 billion in monthly trading volume.

A strike against BDSwiss is that they don’t offer segregated accounts. This is when a client’s funds are held in trust, in a separate account, away from the broker. Having a segregated account is an added layer of protection that BDSwiss doesn’t offer. Despite this, BDSwiss has a 4.7 out of 5 rating on Trustpilot with over 2,000 reviews.

The following table highlights the minimum spread you are likely to see when trading various instruments with the different account types. Some accounts also have a commission charge for certain assets.

The main fees to be aware of are:

• $5/lot commission on forex pairs in the Raw account
• $2 commission per lot on indices trades in the Classic and Raw accounts.
• 0.15% commission on the cost of a trade on all share transactions.

The shares commission is highly competitive – better than many other share CFD brokers. But the commissions and spreads on forex are rather high compared to many other forex brokers.

BDSwiss also imposes a very hefty inactivity fee of 10% of the account balance each month after 90 days of inactivity. The minimum inactivity fee is €25 and the maximum is €49.90 each month until the balance in the account is zero.

There is an overnight holding costs on indices and shares, regardless of whether you are long or short. There is also an overnight holding cost on most commodities and forex pairs, although some may actually pay you for holding a specific position.

Overnight holding costs vary based on interest rates. To see the current overnight holding costs (or payments) see the Trading Products page and click on the asset class you are interested in.

Trade 51 forex pairs, including all the majors like the EUR/USD, GBP/USD, and USD/JPY. As for commodities, you’re able to trade oil, gold, silver, and platinum. There are 69 popular stocks available from the US market, 29 shares from the UK, 4 stocks from France, 14 German stocks, 3 stocks from the Netherlands, 4 from Spain, and 5 shares from Switzerland.

For indices, you’ll have access to 11 major global indices, including the Nasdaq 100, SPX500, German 30, and Australian 200, among others. BDSwiss has a wide array of cryptocurrencies available to trade. You can choose from 26 cryptocurrencies including Bitcoin, Dash, Doge, Ethereum, Dot, Litecoin, and many more.

BDSwiss currently offers a 30% deposit bonus capped at $500. The credit can only be claimed on the first deposit made into the account.

The deposit and withdrawal methods vary by location. In nearly all locations, you can deposit and withdraw via:

• Credit/debit card
• Bank wire
• Skrill
• Neteller

You may have additional methods in your local area, including local bank transfers and SEPA payments.  BDSwiss does not charge for deposits. There is a €10 fee for bank wire withdrawals less than €100. For all other withdrawal methods, there is only a €10 fee if the withdrawal is less than €20 (or other currency equivalent).

In terms of how long it takes for deposits and withdrawals to be credited to your account, international bank transfers take 2-5 days, SEPA and local transfers usually occur within one day, and all other methods should appear in your account within 10 minutes.

The three account types are:

• Classic: $€£100 minimum deposit
• VIP: $€£500 minimum deposit
• Raw: $€£500 minimum deposit

You can open an account in USD, GBP, or EUR. Here is a breakdown of how the various accounts compare.

The main difference between accounts is the commissions and the spreads. Classic accounts have a larger spread, and pay a commission on shares and indices.

VIP accounts have smaller spreads than Classic, and only pay a commission on shares. Raw accounts have the lowest spreads and pay a commission on forex, indices, and shares.

The main platforms BDSwiss offers are MetaTrader 4 and MetaTrader 5. These are both available via an app as well as a desktop version. These two programs are among the most commonly offered in the world by brokers. Here are a few key differences between the platforms so you can decide which is right for you:

If you are more of an algorithmic trader, or like to do automated strategy testing, MT5 has more features and options for you. BDSwiss also offers their own mobile trading app, which offers all the features you need to trade on the go.

If you prefer not to download anything, but still want the full-screen trading experience, you can login to BDSwiss Webtrader through their website. It has built-in tools such as trading signals, trend analysis, and autochartist.

No matter what your preference, BDswiss offers a lineup of trading platforms that should suit nearly any trader.

Support is only available during the week, not on weekends. You can contact them via:

• Email: support@global.bdswiss.com
• Chat – Click the chat button along the side of the screen when viewing the site.
• Their Contact Us form
• Phone – they have a variety numbers you can contact depending on your language or location.

As for educational material and analysis, BDSwiss offers much more than most other brokers. They have eBooks which traders can download, as well as a wide selection of educational articles, live webinars, and seminars. At one point, they did offer daily and weekly market analysis, although that appears to have stopped in 2022. They may bring it back in the future.

Can I open a demo account with BDSwiss?

Yes, BDSwiss offers a demo account that allows traders to practice trading with virtual funds before investing real money.

Does BDSwiss offer educational resources for traders?

Yes, BDSwiss offers a variety of educational resources for traders including webinars, trading courses, and market analysis.

Can I trade on BDSwiss from my mobile device?

Yes, BDSwiss offers mobile trading apps for both iOS and Android devices that allow traders to trade on the go.

Does BDSwiss offer leverage?

Yes, BDSwiss offers leverage of up to 1:500 on some instruments, although the level of leverage available may vary depending on the regulatory requirements of the country where the trader is based.

Is BDSwiss suitable for beginner traders?

Yes, BDSwiss offers educational resources and a user-friendly trading platform that can be suitable for beginner traders. However, trading in general carries a risk, so it’s important for traders to understand the risks involved before investing real money.

Can I trade with BDSwiss if I’m located in the United States?

No, BDSwiss does not currently offer services to clients located in the United States due to regulatory restrictions.

Final Thoughts on BDSwiss Broker

BDSwiss is a regulated broker and your funds are likely safe. They have been in operation since 2012. They offer quick deposits and withdrawals, and a $100 minimum deposit when opening an account.

The trading conditions for forex are average, but the spreads and commissions are a little pricey/high compared to some other brokers out there. The shares commissions, however, are quite competitive and better than many other CFD brokers.

BDSwiss offers a wide variety of tradable assets, but one thing to watch out for is the inactivity fee. It is pretty steep if you take a few months off or aren’t trading much. To check out overviews of other broker options, take a look at our list of Forex Broker Reviews.

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