BDSwiss Review Summary
BDSwiss Review Highlights
Pros & Cons
- Wide range of trading platforms available
- Transparent trading costs
- Great research and trader’s education
- One-on-one trading is only available to Black (VIP) account holders.
In the past, BDSwiss was known for offering its clients binary options for trading but this has since changed. Currently, the broker offers forex, indices, shares, commodities, and cryptocurrencies for trading. We found that the broker offers over 50 currency pairs for trading that include popular pairs like the EUR/USD, USD/JPY as well as other major, minor and exotic pairs; 10 indices; 5 commodities like gold and natural gas; over 140 shares from companies like Apple, eBay, Chevron and others, and most importantly over 20 cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple.
BDSwiss continuously grows and increases the list of assets that they have for trading.
BDSwiss has three main account types suitable for traders of different levels and experience. The accounts are Standard, Raw Spread and Black:
- The Basic account is the simplest of all three accounts. The EUR/USD spread on the Basic account averages at 1.5 pips and the leverage is up to 1:30. The account offers +250 tradable instruments and charges no commission. It features trading tools such as educational resources and trading calculators but Autochartist is not available with the basic account, nor are real-time trading alerts.
- The Raw Spread account offers raw spreads. It has an average spread of 0.3 pips and the leverage is up to 1:30. The lowest trading cost is 0.0 pips but this form of account charges a monthly subscription. With the Raw Spread account, you can only trade Forex and Gold pairs.
- The Black Account is the premium account of BDSwiss. This account has the best features of all three. It offers VIP education, VIP support in the form of a dedicated account manager, priority of transactional requests and trading alerts. It charges no commission and has attractive spreads that start at 1.1 pips with leverage up to 1.30.
BDSwiss does not offer its brokerage services to clients from the United States, Congo, India, South Africa, Belgium, and Cyprus. The Basic and Black accounts of BDSwiss allow swap-free (Islamic Accounts) for those who abide by Sharia Law. All three of the BDSwiss accounts allow hedging and have zero deposit fees.
We found account opening to be very straightforward at BDSwiss. The broker requires a minimum deposit of $100 and follows standard KYC practices such as obtaining proof of identity (government-issued passport or ID) and proof of address (utility bill).
Spread values vary based on assets. We found that with BDSwiss trading costs are very straightforward. The broker does not charge commission but instead levies their trading fees in the spread. Spreads are quite competitive at BDSwiss – for example, the currency pair EUR/USD starts at 0.3 pips. Spreads for cryptocurrencies start from 1.0 and leverage up to 1:2.
BDSwiss does not charge withdrawal or deposit fees. To deposit or withdraw funds with BDSwiss you can use multiple methods such as credit/debit cards, bank transfers and e-wallets like Skrill, PostePay, iDEAL, Sofort and WebMoney. The minimum withdrawal amount is $100 and is free of charge unless you try to withdraw less than $100 – then the processing fee is $10.
Should your account be inactive for more than 90 days then an inactivity fee between $25 – $50 is applied every month until the account balance reaches zero. In addition to this, BDSwiss accounts are subject to swaps and rollover fees in case they are left open overnight or over a weekend.
BDSwiss offers both MetaQuotes’ platforms: MT4 (Metatrader 4) and MT5 (MetaTrader 5). Both platforms are recognized worldwide for their functionality, customization and user-friendly features. The MT4 is MetaQuotes’ first platform that offers many benefits such as technical analysis tools, multiple charting tools, indicators and automated trading using EAs (Expert Advisors). The MT5 offers all the features of the MT4 but also offers multi-asset trading. Both platforms have their own unique capabilities but the MT5 does offer a broader range of tools that may be more attractive to advanced users.
In addition to the third-party platforms developed by MetaQuotes, BDSwiss offers a browser-based platform called BDSwiss WebTrader. This platform was developed by BDSwiss in-house. We found it to be very user-friendly, modern looking and comfortable to use.
The proprietary platform of BDSwiss is also available in mobile form. The BDSwiss Mobile App is accessible on iOS and Android devices. The app is available in multiple languages and is simple and easy to use. It is missing some of the features that the browser app has but nevertheless, it is a good app for remote trading.
We were pleasantly surprised with the range of research materials that BDSwiss offers. The broker has a team of financial analysts who send out real-time trading updates to BDSwiss clients on a daily basis through Telegram. The analysts study daily market changes and insights and report their findings. In addition to this, the broker has a dedicated section called the ‘Trader’s Journal’ that includes market news, company news, forecasts, and various financial articles to update traders of what is going on in markets.
In addition to this, the broker offers Autochartist that monitors the markets on a daily basis and notifies traders of new trading opportunities. Just like most brokers, BDSwiss offers an Economic Calendar that features all the latest economic data and financial announcements around the world that may affect trading.
BDSwiss put a lot of focus on trader’s education – it hosts a BDSwiss Trading Academy that has a variety of tools for Forex and CFD trading. The material is available in the form of e-courses. It can be used by traders of different levels – beginners and advanced investors. The educational material includes a Forex Glossary that contains various trading terminology,
BDSwiss offers a notable amount of valuable, extensive trader education. The broker has what is known as a Trader Academy that consists of a variety of materials available for different levels of traders, from beginners to advanced traders. An in-depth course is provided with video lessons plus tests and is conducted by an experienced Forex/CFD trader. We found the beginner course called ‘Forex basics’ to be a great starting point for new traders that help get acquainted with the platform, understand how Forex/CFD markets work and start trading. In addition to this, BDSwiss offers daily live webinars in various time zones. The broker offers other resources such as a detailed forex glossary, live webinars in different timezones, forex trading videos and, for VIP clients, BDSwiss offers private coaching sessions conducted by seasoned, professional trading experts.
In addition to the above, the broker offers a free demo account that allows traders to try out the platform and practice trading.
We found customer support at BDSwiss to be easily accessible and highly supportive. The team is multilingual and available on a 24/5 basis through various methods such as phone, live chat, email, WhatsApp and Telegram. We found the quickest way to reach customer support was through live chat and telephone. The team answered our questions fast and with relevant information.
As an overall, BDSwiss is a broker worth considering for the variety of services it offers. The broker offers a good number of trading platforms to trade on such as the MT4, MT5, and their own proprietary platform, it offers great trader’s education to new traders and has a good selection of financial instruments available for trading.
Official BDSwiss Review Registration
If you are the owner of this platform you can manage this account. First you need to claim the ownership of the platform.