BDSwiss Review: Great Education, But Is it Worth the Fees?

BDSwiss is a Switzerland-based CFD and FX broker that commenced its operations in 2012. It is licensed in the U.S. by the National Futures Association, FSC, and CYSEC in the EU. It has several group companies that include BDS Markets, BDSwiss GmbH, BDSwiss LLC, and BDSwiss Holding PLC. While its website appears in English as the default language, international customers can select from one of the numerous available languages.

The popularity of this broker is substantiated by its over 10 million transactions that are processed yearly as well as the presence of over 1 million registered accounts for customers in over 170 countries. It has a wide array of features including comprehensive education resources, responsive customer care team, advanced trading platforms, and updated market news.

BDSwiss Pros and Cons

Pros

  • Comprehensive education resources that include frequent webinars
  • Easily accessible and responsive customer support system
  • A broad choice of assets
  • Trading conditions and platforms that are apt for traders of all experience levels

Cons

  • Costs of trading and non-trading fees are higher than your typical broker.
  • US citizens are not accepted at the moment
  • Raw spread accounts only apply to gold and forex trading

Who is BDSwiss Recommended For?

Investors of different levels of experience, and those interested in different classes of asses, will find value in BDSwiss’ offerings. Its attractive features range from various trading platforms to its updated market news, and competitive pricing. Additionally, its Wealth Management Program is attractive to investors who prefer a hands-off trading approach.

Top BDSwiss Features

Spreads

A spread is the difference between the bid price and the ask price. Assets have dissimilar spreads. With BDSwiss, one is not required to pay commissions or fees on most trades. However, the trading fees are charged in the form of spreads.

The value of the spreads varies throughout the day depending on volatility and conditions in the market. Different BDSwiss accounts have specific spreads. The VIP, Raw, and Classic accounts have spreads that start from 1.1 pips, 0.0 pips, and 1.5 pips respectively.

Trading Platform

BDSwiss offers the MT4 and MT5 trading platforms. MT4 has all the fundamental features that individuals need to trade successfully. It is especially helpful to beginners. In contrast, MT5 is a more advanced platform that has additional features including hedging options.

BDSwiss’ website has detailed information on the differences between the two trading platforms. These details will help you make an informed decision. You can download and use either of the two trading platforms on an Android or iOS device as well as your MAC or PC. The BDSwiss mobile app and the BDSwiss webtrader are also part of the firm’s trading platforms.

Support channels

In its efforts to enhance customer satisfaction, BDSwiss has established an effective system for clients to contact them. For instance, it has several hotlines that individuals speaking different languages can use to speak to the company’s representative. You can also contact the company via email, WhatsApp, Live Chat, or Telegram. The customer care team is available at any time within the working days. You can also choose to visit their physical address in Mauritius.

Education

BDSwiss offers a wide range of education resources that are helpful to beginners as well as the experienced traders. One of the aspects that it has invested in is the BDSwiss Trading Academy. It offers beginner, intermediate, and advanced courses to suit the needs of traders with different levels of experience.

Additionally, traders can benefit from the seminars and webinars organized by BDSwiss. The free demo account and market news available on the site are also helpful in increasing individuals’ skills and knowledge on trading.

BDSwiss Overview

Regulation & Licensing BDSwiss LLC: authorized and regulated by U.S. National Futures Association

BDSwiss Holding PLC: Authorized and licensed by CYSEC (EU)

BDS Markets: authorized and regulated by FSC

BDSwiss GmbH:  BDSwiss Holding PLC’s Tied Agent situated in Germany. It is BaFin-registered

 

Accepted Jurisdictions 73 countries
Assets Offered Currencies, commodities, shares, indices, and cryptocurrencies
Platforms Available MetaTrader 4 (Web, mobile, and desktop), MetaTrader 5 (web, mobile and desktop), BDSwiss Webtrader, and BDSwiss mobile app
Mobile Compatibility Yes, its mobile compatible. You can access it on an Android or iOS device, as well as a PC.
Payment Types Accepted Debit card, Giropay, Sofort, EPS, iDEAL, dotpay, Skrill, Neteller, bank wire transfer, and online banking
Languages English, Español, Italiano, Deutsch, Portugues, Chinese, French, Czech, Korean, Norwegian, Danish, Malay, Vietnamese, Hindi, Romanian, Russian, Polish, Arabic, Thai, Filipino, Indonesian, and Turkish

BDSwiss Account Types

BDSwiss has three types of forex accounts. Each of these accounts is designed to suit the needs of a specific group of traders. The accounts are; VIP, Raw, and Classic.

Features VIP account Raw account Classic account
Account currencies GBP, USD, AUD, EUR, CAD, CHF, JPY, NZD GBP, USD, AUD, EUR, CAD, CHF, JPY, NZD GBP, USD, AUD, EUR, CAD, CHF, JPY, NZD
Available leverage Up to 1:500 Up to 1:500 Up to 1:500
Minimum deposit $ 3,000 $5,000 $100
Starting spreads From 1.1 pips From 0.0 pips From 1.5 pips
Commission per trade $0 on all pairs

$0 on indices

0.15 % on shares

$5 on all pairs

$2 on indices

0.15% on shares

$0 on all pairs

$2 on indices

0.14 % on shares

Decimal pricing Up to 5 decimals Up to 5 decimals Up to 5 decimals
Swaps/rollovers Yes Yes Yes
Trading instruments 50+ FX pairs, 5+ commodities, 10+ indices, 140+ shares, 20+ cryptocurrencies 50+ FX pairs, 5+ commodities, 10+ indices, 140+ shares, 20+ cryptocurrencies 50+ FX pairs, 5+ commodities, 10+ indices, 140+ shares, 20+ cryptocurrencies
Min. lot size per trade 0.01 0.01 0.01
Max. lot size per trade 50 10 50
Demo account Yes Yes Yes
Swap/rollover free Yes No No
Copy trading support No No No

BDSwiss Regulation

BDSwiss consists of several investment firms. All of these entities are licensed and regulated by the relevant regulatory bodies as a way of reassuring their clients of their reliability and trustworthiness. The regulation of the firm’s units is as follows:

BDSwiss LLC: it is registered and authorised under the U.S. National Futures Association. Its NFA ID is 0486419.

BDSwiss Holding PLC: It is authorised and licensed by the Cyprus Securities and Exchange Commission (CYSEC). Its License No. is 199/13.

BDS Markets: On 6th December 2016, it is authorised and regulated by FSC as an Investment Dealer. It’s License No. is C116016172.

BDSwiss GmbH: This is BDSwiss Holding PLC’s Tied Agent in Germany. It is registered by BaFin. It’s Registration No. is HRB 160749B.

BDSwiss Spreads and Costs

Like any other broker, BDSwiss makes its money by charging its clients certain trading fees. Spreads are charged on every executed trade. The figure below shows the spreads placed by BDSwiss on different FX pairs.

Its account types also have different spreads. Its classic, raw, and VIP accounts have spreads that start from 1.5 pips, 0.0 pips, and 1.1. pips respectively.

As for commissions, the company charges different commissions depending on the asset and account type as shown in the table below.

VIP account Raw Account Classic Account
$0 on all pairs

$0 on indices

0.15 % on shares

$5 on all pairs

$2 on indices

0.15% on shares

$0 on all pairs

$2 on indices

0.14 % on shares

As for stock CFDs, a commission of 0.1% is charged at the opening and closing of a position. The company also places a rollover fee for a position held overnight (after 21:00 GMT). The rollover fees depend on the asset. Additionally, a rollover fee can be deducted from your account depending on the investment direction.

Non-trading Fees

Non-trading fees refer to the charges that are not directly connected to trading. One such fee is the inactivity fee. If the client does not conduct any trading activity for over 90 days, BDSwiss deducts 10% per month from your account. As for deposits, the firm does not charge the client.

For withdrawals, a fixed fee of 10 EUR is charges for withdrawal of 20 EUR or less that are processed through a credit card. If the withdrawal is done through bank wire transfer and equals to 100 EUR and below, a similar fee applies.

BDSwiss Customer Service

BDSwiss has a well-established customer service system that traders can use to present their queries or concerns. For instance, you can choose to visit their physical address on 6th Floor, Nexteracom Building, Ebene, Mauritius.  The company’s representatives are also responsive on Whatsapp, Live Chat, Telegram, and Email (support@bdswiss.com / marketing@bdswiss.com). Alternatively, you can use their hotlines at any time within the working days.

DBswiss phones

BDSwiss Account Opening Process

BDSwiss’ account opening process is quite simple. For beginners, it is advised to start with a demo account in order to gain the skills and experience needed to trade successfully. To open the demo account, you just have to click on ‘Sign up’ and follow the prompts. Upon completing the signing-up process, the demo account will be created automatically. You will be able to access the account on your Dashboard.

For the more experienced traders, select your preferred account type and click on ‘open’. You will be required to input your personal details as well as other trading-related information. Once you have successfully registered for an account, you will obtain the trading platform’s login details.

dbswiss accounts

Before you can trade, you will need to verify your identity in addition to taking an Appropriateness Test. Once the account is confirmed, go to the dashboard to access your account, view its details, and make deposits or withdrawals.

Minimum Deposit

BDSwiss has different minimum deposit requirements for its three account types. For the classic and VIP accounts, the minimum deposit is $100 and $3,000 respectively. As for the Raw account, the required minimum deposit is $5,000.

Deposit and Withdrawal Fees

Regardless of the utilized deposit method, BDSwiss caters for the receiving costs. With reference to withdrawals, the company does not charge withdrawals made through a credit card. However, withdrawals of 20 EUR or less will attract a fixed charge of 10 EUR. A similar fee is placed on bank wire withdrawals of 100 EUR or less.

When transferring the funds, you may also be charged by funding providers like the credit card provider, receiving bank, or intermediary bank.

BDSwiss Education Offering

BDSwiss has several educational resources that are meant to increase the trading skills and knowledge of beginners as well as experienced traders. The BDSwiss Trading Academy is one of the company’s comprehensive educational resources. It offers beginner, intermediate, and advanced courses. These courses are designed for individuals with different experience levels.

Additionally, traders can acquire useful information through the seminars and webinars organized by BDSwiss. The company’s free demo account and availed market news are also helpful in increasing individuals’ skills and knowledge of trading.

Conclusions

One of the reasons why BDSwiss is among the most popular FX and CFD broker worldwide is its feature-rich online framework. The company has trading conditions that are apt for traders of different levels of experience. Its trading platforms and education resources add value to the firm’s ecosystem. BDSwiss’ competitive pricing and responsive customer support system are another reason for the firm’s popularity in the market.

BDSwiss Images

BDSwiss FAQs

Q: Can U.S. citizens access BDSwiss services?

A: While the company has an NFA license, US-based customers cannot access services on its online trading platform.

Q: Does BDSwiss have a demo account that operates in a similar way as a live account?

A: Yes. BDSwiss’ demo account is similar to its live account. An initial deposit of $10,000 will be availed to you for practice. You can always reset the account’s balance to this amount.

Q: What is BDSwiss’ minimum withdrawal amount?

A: the least amount of money that you can withdraw from your BDSwiss account is EUR 20.

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