BDSwiss – Forex Broker Test Report

The official headquarters of BDSwiss is located in the city of Nikosia on the island of Cyprus. This means this broker is subject to the regulations of Cyprus Securities and Exchange Commission (CySEC). Since Cyprus is part of the European Union, customers’ money is kept safe by means of deposit protection, and BDSwiss cannot use this money for any other purposes but the set ones. Should it come to bankruptcy, traders are covered up to 100.000 £ by means of this legally provisioned deposit protection. Therefore, customers should have no reason to worry, since the broker is safe and reliable. BDSwiss is also one of the first brokers to receive an official license.

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  • Regulated by the CySec
  • EUR / USD tradeable at 1,2 Pips
  • CFD’s / Forex and 47 currency pairs
  • Userfriendly platform layout
  • Mobile App for traders
  • Proffessional customer support

General information about BDSwiss

The official headquarters of BDSwiss is located in the city of Nikosia on the island of Cyprus. This means this broker is subject to the regulations of Cyprus Securities and Exchange Commission (CySEC). Since Cyprus is part of the European Union, customers’ money is kept safe by means of deposit protection, and BDSwiss cannot use this money for any other purposes but the set ones. Should it come to bankruptcy, traders are covered up to 100,000 pounds by means of this legally provisioned deposit protection. Therefore, customers should have no reason to worry, since the broker is safe and reliable. BDSwiss is also one of the first brokers to receive an official license. In the beginning, BDSwiss was purely a broker for binary options and made quite a reputation in the field. Now that the provider expanded their trade offer considerably, they offer traders not only a multitude of binary options, but also numerous forex currency pairs and CFDs. This broadly diversified offer should be appealing to experienced and inexperienced traders.

 

Trade offers, possibilities and functions of BDSwissBaseline

Besides the broad selection of underlying assets in binary options, BDSwiss offers the trade offer which includes 110 underlying assets for CFDs and 47 Forex currency pairs. These 47 currency pairs include the most popular majors as well as exotic currencies.  Traders enjoy very advantageous terms for Forex trade through BDSwiss. The provider does not charge any fees. Basically, all customers have to do is to watch the spread.  In Forex trade, spreads are very narrow. For example, they begin at 1,2 pips for the most popular currency pair, EUR/USD. In addition to the attractive terms, traders working with BSSwiss also get very generous leverage. The highest leverage possible in Forex trade is 1:400. This way, traders can move a very high trade volume with very low investment without any problems. Of course, traders must also keep in mind that such high leverage comes hand in hand with high risks. Another big advantage of BDSwiss is that there is no lower limit of deposit for Forex trade. Traders can decide individually how much capital they want to use. Naturally, those who work with higher leverage also have higher risk, and that is why BDSwiss offers two useful risk management functions. For example, with the take profit function, traders can set a maximum limit to their profit margin, while stop loss function enables them to set automatic closing of a trade. In terms of contracts for difference, BDSwiss offers its clients many CFDs on currencies, shares, indexes, and commodities. There is about a total of 110 underlying assets. In CFD trade, traders can make earnings with dropping and growing currency rates. Up to 300 trades can be opened at the same time, which also enables extraordinarily sophisticated trade strategies. If these advantages are not enough, traders can get their own ideas by checking out the trade offer. BDSwiss offers its customers a free demo-account, which enables them to try out the Forex trade and see its complexities without running any financial risks. The 100,000 pounds starting balance (not real money!) is sufficient funds for a longer test period. This demo account does not have any time limitations, which is not very common with most providers. There are even more to look forward to: customers get real market data and exchange rates in real time.   

 

MobileThe platform of BDSwiss  

The broker BDSwiss does not employ an own trade platform for CFD and Forex trading. Instead, it works with the professional and established platform, MetaTrader4. This way, traders enjoy different advantages. The trade platform has a clear structure and a very user-friendly interface, which allows traders with less experience to find their way around within just a few minutes. MetaTrader4 offers a number of functions, which makes it suitable for professional traders as well. The trade platform can be customized to meet traders’ individual needs. Among other advantages we count free instruments for analysis, automatic trade with different expert advisors, the daily account overview, and a broad selection of assessment and analysis possibilities. Traders can download the platform and install it on their computer, or they can use the web-based version. WebTrader has the same functions as the MetaTrader4: however, it does not require installation and saves a lot of resources. Both versions are stable and enable smooth trade in real time. Forex traders who work on the move have a lot to gain with BDSwiss. This broker offers its customers free mobile apps that run on Android as well as on iOS devices (smartphones and tablet PCs). ProTrader is particularly useful tool and is free-to-use for BDSwiss customers. With this tool, you can check and run multiple trades at the same time.

 

Quick-Overview

BrokernameBDSwiss
Website urlhttps://www.bdswiss.com
Year2012
RegulatedCySec
Leverage400:1
Spread €/$1,2 Pips
Min. Trade0,01 lot
Assets110
Min. Deposit£100
Max. Bonus-
Demoaccount
DepositCreditcard, Bankwire, Paysafecard, Giropay, Ukash, Postepay
Mobile
Hedged

Types of accounts and opening an account5_Singup

New customers can create an account with BDSwiss for a minimum deposit of 100 pounds, but this only applies for traders who want to work with binary options. Those who only want to take part in Forex trade can create a trade account without the deposit. This is a great advantage offered by BDSwiss, which makes this broker excellent for beginners. Starting with a minimum deposit of pounds, new customers receive a bonus of 10 percent that is credited immediately to their trade account. Creating an account only takes a few minutes. Once the new account is confirmed, traders can proceed with the first deposit, for which BDSwiss offers different payment possibilities. Traders can use all popular payment procedures such as bank transfer, credit cards, and instant transfer for both incoming and outgoing payments. Outgoing payments with credit card usually take between two and seven working days. Bank transfers can also take up to one week. Payments via Skrill usually takes two working days at most. Incoming payments via instant transfer run in real time, and the money is available immediately. The minimum transaction amount with BDSwiss is five pounds, which is much lower than with most brokers. The low transaction amount makes this provider accessible for inexperienced traders.

 

Customer support and training possibilitiesSupport

Traders can reach the BDSwiss’ customer support via e-mail, live-chat, or phone. The support team is very obliging and assist customers with their questions and problems quickly. They also have available live-chat with an English-speaking support team. The expected response of e-mail inquiries is generally within one working day at most. Contact via Skype is also possible (note; not many brokers offer this kind of customer support). All customers of BDSwiss have access to a free training package, which consists of different topics such as strategy development, risk and position management, and trading psychology. Because the demo account is available unlimited, inexperienced Forex traders can use it to practice at length.

 

Conclusions7_Resumee

BDSwiss may not be one of the oldest brokers, but it is one of the most popular ones. This provider has established itself well in the field of binary options. As Forex and CFD broker, BDSwiss makes quite an impression as well, and attract many customers because of its advantages. There is no need to worry about reliability nor safety. The broker is strictly regulated, and the customers’ money is reliably safeguarded through deposit protection. Registering with BDSwiss is easy, and it goes fast. BDSwiss is one of the few brokers that does not demand a minimum deposit before Forex trade. BDSwiss also offers a demo account for who wants to try the trade platform and trade possibilities without financial risks. The trading platform, MetaTrader4 attracts traders because of its user-friendly and professional interface, and important functions. Alternatively, customers of BDSwiss can trade directly on their browser, smartphones, or tablets when they are on the move. In Forex, traders can work with all popular as well as some exotic currency paoir. Spreads are very small, and there are no additional fees necessary. Moreover, traders can also opt for trade with contracts for difference. All popular payment methods are available for incoming and outgoing payments. Outgoing payments could be somewhat faster, but they do move at acceptable speed. Customer support adds the final touch to an already outstanding positive overall picture of BDSwiss. English traders benefit from an English hotline and an English-speaking team. All in all, BDSwiss is really one of the best brokers out there for inexperienced as well as professional Forex traders.