BDSwiss Trading Review
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Minimum Deposit: $20 |  |
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Minimum Deposit: $250 | |
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Minimum Deposit: $250 | |
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Minimum Deposit: $250 | |
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Minimum Deposit: $100 | |
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No deposit bonus | Minimum Deposit: $5 |  |
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No deposit bonus | Minimum Deposit: $10 | |
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Minimum Deposit: $250 | |
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No deposit bonus | Minimum Deposit: $250 | |
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No deposit bonus | Minimum Deposit: $100 | |
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No deposit bonus | Minimum Deposit: $10 | |
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No deposit bonus | Minimum Deposit: $25 | |
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No deposit bonus | Minimum Deposit: $100 | |
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No deposit bonus | Minimum Deposit: $10 | |
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No deposit bonus | Minimum Deposit: $10 | |
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No deposit bonus | Minimum Deposit: $2 | |
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No deposit bonus | Minimum Deposit: $500 | |
Choosing the right broker is a crucial decision that can significantly impact your trading experience and success. BDSwiss is a well-established name in the industry, catering to over 1.6 million clients globally since its inception in 2012. However, as with any broker, it’s essential to delve deeper and examine the various aspects of their offerings.
In this comprehensive BDSwiss trading review for 2024, we’ll explore the broker’s regulatory status, trading conditions, fees, overall reputation, strengths, weaknesses, and potential areas of concern, helping you make an informed decision about whether it’s the right fit for your trading needs.
What is BDSwiss?
BDSwiss is an online trading broker that provides access to various financial markets, including Forex, Stocks, Commodities, Indices, and Cryptocurrencies. Established in 2012, the broker has since expanded its reach, catering to over 1.6 million clients across the globe. BDSwiss offers multiple trading platforms, including the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as its proprietary platform.
Pros and Cons of BDSwiss
| Advantages | Disadvantages |
| Low Minimum Deposit: One of the notable advantages of BDSwiss is its low minimum deposit requirement. Depending on the account type, traders can start with as little as $10, making it accessible to those with smaller trading accounts. | Limited Variety of Tradable Assets: While BDSwiss offers a decent range of over 250 CFD instruments, including currency pairs, commodities, stocks, indices, and cryptocurrencies, it does not provide access to certain asset classes like bonds or options. |
| Islamic (Swap-Free) Accounts: BDSwiss caters to diverse trading communities by offering Islamic accounts, which comply with Sharia law principles and provide swap-free trading opportunities. | High Trading Fees and Spreads: One of the primary drawbacks of BDSwiss is its relatively high trading fees and spreads compared to industry averages. This can potentially impact profitability, especially for traders with smaller account sizes or those executing frequent trades. |
| Regulated by Multiple Authorities: BDSwiss operates under the regulation of several authorities, including the Financial Services Authority (FSA) of Seychelles, the Financial Sector Conduct Authority (FSCA) of South Africa, the Financial Services Commission (FSC) of Mauritius, and the Mwali International Services Authority (MISA). | Regulatory Issues in Some Regions: While BDSwiss holds multiple regulatory licenses, it has faced regulatory scrutiny in certain regions, such as the United Kingdom. In 2021, the Financial Conduct Authority (FCA) directed the broker to stop offering CFDs to UK clients due to concerns over marketing practices. |
| Negative Balance Protection: To safeguard traders from excessive losses, BDSwiss offers negative balance protection, ensuring that traders cannot lose more than their account balance. | $30 Monthly Inactivity Fee: BDSwiss charges a monthly inactivity fee of $30 if there is no trading activity on an account for more than 90 days. This fee can be a deterrent for traders who prefer to take a more conservative approach or those who may experience periods of inactivity due to various reasons. |
| Fast Order Execution: With a median execution speed of 65 milliseconds, BDSwiss can be a suitable choice for traders implementing high-frequency trading strategies or those who value swift order execution. | |
| Diverse Range of Educational Resources: The broker has invested heavily in educational materials, including webinars, video tutorials, e-books, and articles covering a wide range of trading topics. This can be particularly beneficial for beginner traders looking to enhance their knowledge and skills. |
Overview of Trading Conditions and Offers of BDSwiss Broker
BDSwiss offers a range of trading accounts to cater to traders with varying experience levels and trading preferences. The broker provides four main account types: Cent, Classic, Zero Spread, and VIP.
- Cent Account: This account type is designed for beginner traders or those with smaller account sizes with $10 minimum deposit. It offers spreads starting from 1.6 pips and no commissions.
- Classic Account: The Classic account is suitable for intermediate traders and offers spreads starting from 1.3 pips, with no commissions and $10 minimum deposit.
- Zero Spread Account: As the name suggests, this account type offers spreads from 0 pips, but traders will need to pay a commission of $6 per standard lot (100,000 units) for Forex and commodity trades. This account requires $100 minimum deposit.
- VIP Account: The VIP account is tailored for experienced traders and requires a minimum deposit of $250. It offers spreads starting from 1.0 pip and no commissions.
In addition to these account types, BDSwiss also provides Islamic accounts for traders seeking swap-free trading opportunities, in compliance with Sharia law principles.
BDSwiss offers leverage up to 1:2000 for eligible clients, although the default leverage is set at 1:400. It’s important to note that leverage can amplify both potential profits and losses, so traders should exercise caution and understand the associated risks.
Assets and Markets
BDSwiss offers access to a diverse range of financial instruments through CFD trading. Traders can access over 250 CFD instruments across various asset classes, including:
- Currency Pairs: BDSwiss provides access to 53 currency pairs, including major, minor, and exotic pairs, catering to Forex traders.
- Commodities: Traders can speculate on the price movements of six commodities, including precious metals like gold and silver, as well as energy products like crude oil.
- Share CFDs: With 128 share CFDs available, traders can gain exposure to the stock markets of the US, UK, and Europe.
- Indices: BDSwiss offers CFDs on 10 major global indices, such as the Dow Jones, S&P 500, and FTSE 100, allowing traders to participate in the broader market movements.
- Cryptocurrencies: For those interested in trading digital assets, BDSwiss provides access to 26 cryptocurrencies, including popular ones like Bitcoin, Ethereum, and Litecoin.
BDSwiss Bonuses Explanation
At the time of writing this review, BDSwiss does not offer any deposit bonuses or promotional offers. The broker seems to focus on providing competitive trading conditions and educational resources instead of incentivizing traders with bonuses.
It’s worth noting that bonuses and promotions can be subject to change, so it’s always a good idea to check the broker’s website or contact their customer support for the latest information on any available offers.
Trading Fees: How Much Does It Cost to Trade at BDSwiss?
BDSwiss offers spreads that are generally on the higher end compared to industry averages. For example, the EUR/USD spread can range from 0.2 pips (Zero Spread account) to 1.7 pips (Cent account). Share CFD spreads can also be relatively high, with some instruments having spreads over 2 pips.
While the Cent and Classic accounts do not charge commissions, the Zero Spread account charges a commission of $6 per standard lot (100,000 units) for forex and commodity trades. The VIP account does not charge commissions.
BDSwiss charges overnight fees, also known as swaps, for positions held overnight. These fees can vary depending on the instrument and the prevailing interest rates.
While deposits are generally free of charge, BDSwiss may charge a fee for certain withdrawal methods, such as wire transfers under $100, which incur a $10 fee.
Charts and Analysis
The broker publishes daily market analysis reports. Reports help traders stay updated and find trading opportunities.
BDSwiss provides technical analysis reports to help traders identify support and resistance levels, chart patterns, and technical indicators. Traders can access an economic calendar for upcoming events that may impact market volatility and price movements.
BDSwiss incorporates research and analysis from third-party providers like Trading Central and Autochartist. The broker offers video breakdowns and chart walk-throughs, beneficial for visual learners or those seeking interactive learning.
How to Trade with BDSwiss
To trade with BDSwiss, you want to register with the broker, verify your identity and fund your account. Once that’s done, educate yourself with the resources on the website. To start trading, choose a trading platform like MetaTrader 4, MetaTrader 5 (MT5), or BDSwiss Proprietary Platform and login with your live account credentials. Make your analysis and execute your trade.
Mobile Trading via the BDSwiss App
For traders who value mobility and the ability to trade from anywhere, BDSwiss offers well-designed mobile trading apps for both Android and iOS devices. These apps provide access to the broker’s trading platforms, allowing traders to monitor their positions, execute trades, and stay up-to-date with market developments while on the move.
How to Download the BDSwiss App
To download the BDSwiss mobile app, simply follow these steps:
- For Android devices, open the Google Play Store and search for “BDSwiss” in the search bar.
- For iOS devices, open the App Store and search for “BDSwiss”.
- Once you’ve located the app, tap the “Install” or “Get” button to initiate the download and installation process.
- After the installation is complete, launch the app and log in with your BDSwiss account credentials.
Can You Use Trading Robots on BDSwiss?
Yes, BDSwiss supports the use of trading robots, also known as Expert Advisors (EAs), on the MetaTrader 4 and MetaTrader 5 platforms. EAs are automated trading systems that can execute trades based on predefined rules and strategies, allowing traders to automate their trading activities.
Can You Trade Forex on BDSwiss?
Yes, BDSwiss offers Forex trading through its range of currency pair CFDs. Traders can access over 53 currency pairs, including major pairs like EUR/USD and GBP/USD, as well as minor and exotic pairs.
When trading Forex on BDSwiss, traders can benefit from the broker’s fast execution speeds (65 milliseconds on average), which can be advantageous for implementing high-frequency trading strategies. Additionally, BDSwiss provides access to various trading platforms, including MetaTrader 4 and MetaTrader 5, which are widely used and popular among Forex traders.
Can You Trade Binary Options on BDSwiss?
No, BDSwiss does not currently offer binary options trading. The broker’s focus lies primarily on providing CFD (Contract for Difference) trading services across various asset classes, including Forex, stocks, indices, commodities, and cryptocurrencies.
FAQs
Is BDSwiss a regulated broker?
Yes, BDSwiss is regulated by multiple authorities, including the Financial Services Authority (FSA) of Seychelles, the Financial Sector Conduct Authority (FSCA) of South Africa, the Financial Services Commission (FSC) of Mauritius, and the Mwali International Services Authority (MISA). However, it’s important to note that these are not top-tier regulators.
What is the minimum deposit required to open an account with BDSwiss?
The minimum deposit requirement varies depending on the account type. The Cent and Classic accounts require a minimum deposit of $10, the Zero Spread account requires $100, and the VIP account requires a minimum deposit of $250.
Does BDSwiss offer a demo account?
Yes, BDSwiss provides demo accounts that allow traders to practice their strategies in a risk-free environment with virtual funds. However, you need to create a live account first before gaining access to a demo account.
What trading platforms does BDSwiss offer?
BDSwiss offers multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and its proprietary web and mobile trading platforms. These platforms are available for desktop, web, and mobile devices.
Can I use trading robots (Expert Advisors) on BDSwiss?
Yes, BDSwiss supports the use of trading robots, also known as Expert Advisors (EAs), on the MetaTrader 4 and MetaTrader 5 platforms. This allows traders to automate their trading strategies and execute trades based on predefined rules.