BD Swiss Broker Review 82

 

BDSwiss is an online Forex and CFD and broker operating out of Nicosia, Cyprus. They offer trading in Forex, Stock CFD’s, and more. The website is offered in 19 different languages, serving customers all around the world.

The broker is strictly regulated in the EU by the Cyprus Securities and Exchange Commission.

BDSwiss offers two account types for their traders; BDSwiss Basic and BDSwiss Black, with the latter offering tighter spreads on most trading assets. Trading is commission-free, with the buy/sell spread being the only cost for the trader. For both account types, the leverage offered is up to 1:400.

The minimum initial deposit to start trading CFD’s with the BDSwiss Basic account is $100.

 

Regulation

BDSwiss is a trademark of BDSwiss Holdings PLC, which is regulated by the Cyprus Securities and Exchange Commission, under the license number 199/13. As a consequence of EU regulation, BDSwiss Holdings PLC is required to follow the strict guidelines of the MiFID EU Directive. Being regulated by a trusted EU jurisdiction, this should offer potential investors the sense of security they need in order to trust BDSwiss with their funds.

Although the company’s registered business address is in Cyprus, BDSwiss is also affiliated with BDS Markets, based in Mauritius and regulated by the Mauritius Financial Services Commission, under license number C116016172.

Lastly, the company also has a US division, BDSwiss LLC, “authorized and registered” by the National Futures Association (NFA) in the United States. However, note that being “registered” does not mean the company is “regulated” by NFA.

The BDSwiss website provides no further information as to which jurisdiction shall prevail in the event of disputes.

Assets

With CFD trading in more than 250 underlying assets, including Forex, Commodities, Indices, and Treasuries (bonds), BDSwiss has something that suits most traders. Minimum spreads depend on the underlying asset, and starts from 1.2 PIPs in the Basic account and 1.0 PIP in the Black account.

Trading Platforms

In terms of trading platforms, BDSwiss only offers the widely used MetaTrader 4 (MT4).

Traders have the choice between using the web-based solution, downloading the desktop version of the software to your computer, or trade via your smartphone. The Web version of MT4 is user-friendly and easy to navigate, and the interface will be familiar for traders who have already used the downloadable desktop version of the platform.

If you are already familiar with MT4, you can have it downloaded and installed on your computer in just a few simple steps. With the BDSwiss Forex MT4 Trading Platform, you can conduct trades in all available assets, including forex, stocks, and commodities.

The MT4 platform is used by millions of traders worldwide and offers free live data feed, all historical data, all kinds of technical indicators and charting tools, as well as the ability to program your own trading strategies and run backtests on them. There is also a wide range of Expert Advisors, or trading robots, available that you can choose to follow and copy in your own trading.

BDSwiss also offers the MT4 mobile app for iOS and Android, which allows instant access to markets wherever you are. The app includes most features available on the full trading platform, is free to download, and comes pre-programmed with a full suite of analytical trading tools.

Deposits and Withdrawals

The minimum deposit to start trading CFD’s with BDSwiss is $100. However, withdrawals of less than €100 will be subject to a €25 handling fee. Account holders can easily withdraw their funds using international bank transfer (SWIFT) and major credit or debit cards such as Visa and MasterCard.

Account Types

BDSwiss offers two main account types depending on the size of your initial deposit; Basic and Black.

BDSwiss Basic is the standard account that all traders will be given when opening an account with the broker. With this account, the minimum deposit requirement to start trading CFD’s is $100. The average spread for the widely traded EURUSD currency pair is 1.3 PIPs.

BDSwiss Black is the broker’s premium account type. It requires a minimum deposit of 10,000 USD/EUR/GBP to start trading. Average spread for EURUSD in the DBSwiss Black account is only 1 PIP, significantly lower than what the Basic account type offers.

The leverage offered is the same for both account types at 400:1, which is well within the industry standard for Forex brokers.

Trader Education

BDSwiss offers a wide range of educational content available to their clients. This includes detailed courses about fundamental and technical analysis, trading strategy development, and general trading. The company also offers live webinars and live trading sessions for their client’s to follow during special events in the markets like FOMC and central bank meetings.

Particularly the course on Strategy Development is very welcome as an effort to support their traders’ developments. Becoming more disciplined and learning to follow a strict process is often a problem for beginning traders, and a course offering this right from the start would therefore be a huge benefit for most beginners. The course teaches you everything, from developing a trading strategy and testing it to implementing it consistently.

Customer Support

Customer Support is available by phone in 16 different local phone numbers, as well as email support on support@bdswiss.com. The broker also offers live chat with customer support via their website in English, German, Spanish, French, and Italian.

Conclusion

Although the selection of trading assets offered by BDSwiss is a bit limited compared to some other brokers, they do offer some very interesting concepts such as live trading during special events on the markets. This is something we don’t come across very often, and BDSwiss deserves credit for offering this to their clients.