BDSwiss review (2021) Review
The history of the BDSwiss brand began in 2012 in Switzerland, where one of the company’s founders lived. Currently, two companies provide trading services on financial markets under the BDSwiss brand: BDSwiss Holding PLC in Cyprus (CySEC license number 199/13) and the offshore BDS Markets Ltd, which is under control regulated of the Mauritius Financial Services Commission (FCS), license number C116016172. In addition, the Cyprus-based company Bdswiss Holding was accused of dishonest behavior to its customers and was penalized by CySEC for 150 thousand euros in 2017.
The trading platforms available to our clients are the most popular trading terminals MetaTrader4, MetaTrader5, web terminal, and Mobile FX Trader for Android and iOS mobile devices. There were no problems with order execution on the demo account, which we could see for ourselves.
The range of trading instruments at BDSwiss (hereinafter referred to as BDS Markets Ltd) is impressive: more than 50 currency pairs, 15 CFDs on cryptocurrencies, 10 stock indices, 140 CFDs on shares, 5 CFDs on commodities. Leverage up to 1 to 400 and minimum order volume from 0.01 of a standard lot. Customers can choose from three types of trading accounts: Classic, VIP and RAW account. The difference in the account balance: the bigger the account, the more attractive spreads and the greater the number of various „temptings“ for the clients. Automatic trading systems, scalping, arbitrage, etc. are prohibited under the terms of the offer. Many of the offer requirements, in general, raise questions, the client’s rights, in our opinion, are too limited. The company reserves the right to correct the opened orders and to cancel the profit received on the already closed transactions.
Currently, BDSwiss offers three basic types of accounts for trading in the foreign exchange market, which are suitable for both beginners and experienced traders.
- Classic – Spreads from 1.5 pips. No commission will be charged, but the deposit must be at least $100. In addition, you will be provided with daily market analysis, webinars in real-time, support around the clock.
- VIP – Here, the minimum spread is 1.1 pips. There is also no commission for a deposit, but the deposit amount must be $3,000. The same as in the Classic, you will be provided with daily analytics, but as a VIP client will be given a telegraph channel to communicate with other clients who have chosen this account.
- RAW – This is the account that will give 0 spreads, will take a commission of 5% of deposit sum from 5 000$, priority services, personal manager, everything included in previous accounts.
Demo account at BDSwiss
The broker offers a free demo account to all new traders without an exception. Every user will learn the way to act on this platform. The demo has $10.000 of virtual funds offered to observe the trading mechanism. This demo tool is incredibly helpful for beginners who want to achieve a great deal of expertise. You need to keep in mind that a demo option suggests only virtual funds, so you will be not able to withdraw real cash.
First, you need to choose a type of trading account and its demo version. The next scheme is very simple, fill in required info like email, password, and phone number. Email verification will let you in the system and you can start your trading practice.
Replenishment and withdrawal
You can deposit money by payment card, bank wire transfer, Neteller, Skrill, or cryptocurrency (BTC/ETH/BCH). The minimum deposit amount is $200. The client can make a deposit without verification, but in the next ten days, he must go through this procedure. Withdrawal of funds must be carried out by the same method by which the deposit was made.
BDSwiss customer support team can be contacted by phone, order a callback, online chat, email or feedback form, as well as in popular messengers.
Advantages and disadvantages
- wide range of assets
- round-the-clock support
- currently U.S. citizens are not enabled to use the brokers“ site
- raw spread accounts are only used for gold and forex trading.
Pros / Cons