BDSwiss Review 2021 - Verified Customer Reviews

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3.1
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0.0
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BDSwiss Review

Updated July 07, 2021
3.1
Score breakdown
Pricing: 4
Regulation: 5
Popularity: 3.5
User Rating: 0 (0)

BDSwiss overall score rank: 15 out of 45

BDSwiss forex broker review

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3 % of retail investor accounts lose money when trading CFDs with BDSwiss Holding Plc. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

KEY TAKEAWAYS
  • BDSwiss robust trading platform
  • No fees on deposits and withdrawals
  • Regulated in the EU and Seychelles
  • Great selection of assets to trade

Regulations and Money Protection

5.0  


Entity Name Licence & Regulation Client Money Protection Deposit Compensation Scheme Negative Balance Protection
BDS Ltd (SC) Seychelles FSA Licence ✔️
segregated client money
✔️
BDSwiss Holding Plc (EU) Cyprus CySEC Licence ✔️
up to €20,000
✔️
BDS Markets (MU) Mauritius FSC Licence ✔️

Entity/Regulation

  • International customers: BDS Ltd (trading as BDSwiss) will be the counterparty for International customers. This entity, registered in the Seychelles is regulated by the Financial Services Authority of Seychelles (FSA) with a Securities Dealer Licence.

  • European customers: BDSwiss Holding Plc, with address at Apostolou Andrea Street, 11 Hyper Tower, 5th Floor, 4007 Mesa Yeitonia, Limassol, Cyprus, is registered as a Cypriot Investment Firm (CIF) under number 300153 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 199/13.

Client Money Protection

  • BDSwiss complies with the highest safety standards for client's funds. For this reason, BDSwiss client's funds are kept in top-tier international banks, such as Wirecard Bank AG., Berenberg Bank AG., Handelsbanken, fully segregated from the company's funds.

  • BDSwiss also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. BDSwiss holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.

Deposit Compensation Scheme

BDSwiss Holding Plc is a member of the Investor Compensation Fund (ICF), an investor compensation fund for CIF clients and its functions are regulated by the directive DI87-07 of the CySEC. If BDSwiss Holding Plc is unable to meet its obligations, clients might be entitled to compensation (up to the value of €20,000) per claim, irrespective of the number of accounts held, currency and place of offering of the investment service (within Europe).

Negative Balance Protection

For accounts opened via any entity of the BDSwiss Group, there is a default Negative Balance Protection mechanism in place, for the sake of no negative balance. With NBP, BDSwiss customers are protected from any losses bigger than their original investments, in cases of extreme market volatility.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage
✔️Classic
✔️VIP
✔️RAW
✔️InvestPlus*
✔️PAMM
✔️Islamic Accounts
✔️Forex
✔️Indices
✔️Stocks
❌Futures
✔️ETFs
❌Bonds
✔️Commodities
✔️Cryptos
✔️MT 4
✔️MT 5
❌cTrader
✔️BDSwiss
❌Myfxbook
❌ZuluTrade
30:1 Europe
500:1 Rest of World
5:1 InvestPlus*

Account types and currencies

  • BDSwiss offers four (three for EU customers) types of trading accounts; Classic, VIP, RAW and InvestPlus* (not available to EU clients) a DMA execution type account available to trade only ETFs and Stocks CFDs. BDSwiss also offers swap-free accounts for traders of Islamic belief (subject to account type and conditions).

  • BDSwiss doesn't allow for social trading, including copy trading.

  • BDSwiss offers PAMM accounts alternatives for money managers.

  • BDSwiss maximum leverage is 30:1 for accounts opened within Europe and up to 500:1 for accounts opened in other countries around the world. Please note that the BDSwiss maximum leverage for the InvestPlus account is 5:1.

  • Currently, BDSwiss trading accounts are available in EUR, USD, GBP, PLN, CHF, SEK, DKK, NOK.

Financial instruments

Trading with BDSwiss can be done via the MetaTrader 4, Metatrader 5 (desktop and mobile) and BDSwiss own platform, available on web and mobile (iOS and Android) trading versions. BDSwiss offers a limited selection of just 45 assets to trade, including Forex, indices, commodities and cryptocurrencies.

  • FX market - 51 currency pairs (including Minor and Exotic crosses).

  • Indices - 10 world indices, including UK 100, GER 30 and NIKKEI 225.

  • Stocks - 130+ stocks CFDs (900+ to InvestPlus account holders) from different countries, including the US, UK, France and Germany and from global top companies and banks such as Adidas, BBVA, Barclays, EasyJet, Amazon, Baidu Inc, etc.

  • ETFs - 80 ETFs (available only to InvestPlus account holders) from the world's leading exchanges to trade with direct market access, including the Spdr DJIA ETF Trust, Ishares Taiwan Index ETF, Ishares Brazil Index ETF, Invesco CurrencyShares Japanese Yen Trust.

  • Commodities - 7 commodities CFDs available for trading; 5 combinations for metals (including Gold and Silver) and 2 energies with UK Oil and US Oil.

  • Cryptocurrencies - 20 CFDs crosses for trading, including BTC/USD, LTC/USD and ETH/USD.

Pricing

4.0  


Pricing/
Account
Classic VIP RAW InvestPlus*
(ETFs and Stocks CFDs only)
Spread EUR/USD from 1.5 pip from 1.1 pip from 0.0 pip N/A
Commissions (1 lot) from 5 USD 0.1% per unit
Minimum Deposit from 100 USD from 3,000 USD from 5,000 USD from 5,000 USD

Spreads

BDSwiss offers in total 4 different trading account types. A special note here. The InvestPlus DMA execution type account is not available to traders in Europe, to traders of Islamic belief or to traders looking for Forex offering. With the InvestPlus account there's only two types of trading assets; ETFs and Stocks CFDs.

BDSwiss Forex trading spreads are not the most competitive in the market for the entry-level account, the Classic, and even the VIP account. For the most traded pair, the EUR/USD, the spread starts at 1.5 pip, with an average of 1.9 pip (during major economic release and market opening times spreads can increase) commission free. On the positive side, with a RAW account, the EUR/USD minimum spread is 0.0 pip (typically 0.3 pip).

To access the better trading conditions of the RAW account (lower spreads), BDSwiss will charge a broker commission. With a RAW account, the standard lot commission for 1 lot (100,000 units) is 5 USD commission (2.5 USD per side/per lot). We consider this commission to be slightly lower when compared with other top brokers.

Rollover Rates

BDSwiss swap rates, as of 26-10-2020 for the EUR/USD stand at an incredible high cost of -10.00 for holding overnight a 1 lot long contract and at a generous rate of +2.00 for holding overnight a 1 lot short contract. We consider these swap rates to be higher (for long positions) and much better (for short positions) than the rollover rates offered by other top Forex brokers.

Deposits/Withdrawals and Other Fees

  • Deposit fees - Trading accounts can be opened in only 8 different currencies and maintained via 12 different funding methods, including cards, bank wires and e-payments such as Skrill, Dotpay and Neteller. Deposits are available almost instantly. BDSwiss does not charge any fees for deposits.

  • Withdrawals fees - Same policy applies for withdrawals (processing times vary from instant to 4 business days). BDSwiss does not charge clients any fees for withdrawals. Moreover, receiving costs applied by third parties (Skrill or Neteller, for example) are also covered by BDSwiss. For more information, please visit the BDSwiss Mauritius deposit and withdrawals dedicated page and the BDSwiss (EU) deposit and withdrawals.

  • Inactivity fee - BDSwiss charges an inactivity fee. If no trading activity occurs for over 90 days, a monthly fee of will be deducted from the account balance. Inactive accounts are charged with 10% of the account balance each month, with the minimum amount charged being €25 or trading account currency equivalent, and the maximum amount charged being €49,90 until the account balance is €0. These charges cover the maintenance/administration expenses of such Inactive Account.

Popularity

3.5  


Forex Education Deposit Options Deposit/Withdrawals Fees Non expiring demo account Customer Support
Seminars
Webinars
Forex Courses
Blog
Video Tutorials
Fundamental & Technical Analysis
Market Insights
Trading Tools
Cards
Bank Wire
E-payments
✔️ Multi language
24/5 Support
Live Chat

With more than 1,500,000 registered accounts and a +$84 billion trading volume per month (according to their website), BDSwiss seems to have a great market share, but still, the brokers seems to fail in capturing the attention of more traders as the popularity score is 3.5, just above the average.

Still, BDSwiss is a popular Forex broker with traders mainly for it's platforms. The BDSwiss proprietary WebTrader Platform was exclusively developed in-house, to better cater for the needs of the broker's growing client base. Focusing on simplicity, reliability and speed, the new BDSwiss WebTrader delivers an unparalleled trading experience accessible from all browsers and operating systems.

BDSwiss platform is also available on mobile version, iOS and Android, for those who like to trade on the go. The BDSwiss Mobile App features a user-friendly trading interface that allows traders to place and manage trades on the go, while using the same tools and features as those available on their desktop platform.

  • Trading accounts - Regarding trading accounts, we consider the BDSwiss RAW account to be the best-value. This account is also a popular choice because of the reduced trading costs and considered the best option based on the lower spreads and with a lower commission of $5.00 per lot traded for the EUR/USD cross.

  • Forex education - BDSwiss gets extra popularity points for their excellent range of Forex education materials, available through the Research&Education tab. From here traders can have access to the BDSwiss Trading Academy with several Forex trading courses, from beginner level to more advanced courses, live webinars, educational videos, daily market analysis and market insights. There's also the BDSwiss specials section, with some Forex tools and with trading signals via BDSwiss Telegram Channel (available only for VIP and Raw account holders only).

Funding Methods Bank Wire, China Union Pay, Credit Card, EPS, FasaPay, Giropay, iDeal, Neteller, Paypal, PaySafeCard, QIWI Wallet, Skrill (Moneybookers), Sofort, Webmoney, Codapay, Dinpay
Support Languages Arabic, Afrikaans, Chinese, English, Dutch, French, German, Greek, Italian, Korean, Latvian, Norwegian, Polish, Spanish, Thai, Slovakian, Swedish

  • Minimum deposit - Opening a trading account with BDSwiss is quite easy and fast, taking around 10-15 minutes to complete all the forms with the required information. To open an account with BDSwiss the initial minimum deposit requirement is 100 USD for the Classic account, 3,000 USD for the VIP account, 5,000 USD for the RAW account and 5,000 USD for the InvestPlus account. After the initial minimum deposit, BDSwiss minimum deposit requirement is 100 USD (or 100 units for accounts in other currencies).

  • Customer support - BDSwiss multi language customer support service is available 24 hours, 5 days a week, in 17 languages. BDSwiss support is available via phone call, email, contact form and also live chat, available directly from their website.

Broker Profile

BDSwiss is a leading financial institution, offering Forex and CFDs investment services to more than a million clients worldwide. BDSwiss, as a brand, was established back in 2012 and has since then been providing award-winning conditions, world-leading platforms, competitive pricing and optimal execution on more than 250 underlying CFD instruments. 

The company provides clients with trading of financial instruments from 5 asset classes at some of the most competitive conditions. With BDSwiss traders can take positions and trade CFDs in the Forex market, including all the major currencies and in addition a diverse range of other products including precious metals, equity indices, cryptocurrencies and energy contracts.

In Europe, BDSwiss Holding PLC is operating under the MiFID (EU Directive) and is registered in the EU Member State of Cyprus. BDSwiss is fully licensed and regulated by the Cyprus CySEC, Germany's BaFin, the USA NFA and Mauritius FCA.

Overall, on our BDSwiss review, the broker scores 3.9 out of 5 as it is a good choice for European traders looking for a reputable broker with good regulations in place and safety of funds. On the downside, the lack of a stronger regulator for international clients could scare some potential traders. Also impacting negatively, the overall cost of trading with BDSwiss is slightly higher (except for the Raw Account), when compared with other top brokers.


Data supplied in partnership with CashBackForex - Forex Rebates places BDSwiss on the top 30 brokers for popularity with traders opening an account in 2020.


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