BDSwiss has dominated the brokerage industry shortly after it made its debut back in 2012, with its competitive arsenal of tradeable assets and offerings tailored to a wide range of clients. Topping one million BDSwiss-registered trading accounts serving clients in more than 170 jurisdictions and over fifty-six million trading transactions performed yearly, it’s easy to see why it’s so popular. BDSwiss goes above and beyond by offering a wealth of educational resources, updated market research, and exceptional customer service.
Let’s take a more defined look at BDSwiss’ brokerage services and read on to the next segments of this broker review.
BDSwiss Advantages & Disadvantages
Advantages:
- Competitive spreads and low commission fees
- Fast trade execution
- Comprehensive educational facility
- Excellent customer support
Disadvantages:
U.S.-based clients not accepted
Security and Regulation
BDSwiss takes pride in its process of delivering quality brokerage service across a hundred countries. The company implements a modern and stringent compliance protocols. The firm utilizes a verification procedure requiring applicants to submit a legitimate identity document and any paper stating the person’s residency before they undergo a test to identify economic profile and trading skill level which is pivotal to suit their investment. This meticulous way of screening traders clearly implies that the firm does more than just collect clients and get their trading funds. The brokerage lays out intentional and custom-made trading service that fits the clients’ backgrounds.
As we examine the broker’s regulatory affiliation, BDSwiss is not only a member of the Financial Commission but is also subscribed to a compensation fund. Essentially, this membership enrolls its clients in a compensation scheme where clients can claim up to 20,000 euros provided that the clients won the conflict dispute. This scheme is still on top of its stern adherence to anti-money laundering measures.
BDSwiss is overseen by several regulatory entities including the CySEC. Additionally, the company is recognized by the United States National Futures Association, a testament to reputation and legitimacy. This recognition from a U.S-based regulatory body is significant is highly likely to boost chances of allowing traders from the United States. As an additional security factor, funds are segregated,thus compartmentalizing the company’s money and the client’s funds. Putting these all together, it adds up to the broker’s untarnished integrity in providing financial products to its hundreds of thousand clients worldwide. Hence, trading with BDSwiss is totally safe.
Trading Accounts & Fee Infrastructure
Types and Fees
Not mirroring brokers that offer a plethora of live accounts with varying inclusions, BDSwiss offers limited but comprehensive and all-competitive trading conditions packaged in its account offerings.
Opening a Raw Account, entails one to prepare to store your trading wallet with at least $5,000. Going for exclusivity, you may pot for the VIP Account that requires a $3,000 capital. Traders with low trading capital can opt for the Classic account as it only asks $100 initial funding. The spreads featured here commence with 1.5 pips.
Fees for Deposits and Withdrawals
Turned off by brokers asking for hefty deposit and withdrawal fees? BDSwiss will win you over as the transactions with BDSwiss are free from fees. What’s more, your withdrawal requests are processed extremely quickly. Among all the broker’s provided options, the transaction time is usually five hours. Free withdrawal transactions using plastic are also in the cards, while other withdrawal options have corresponding fees.
Platform Experience
Exploring the broker’s offered platforms, the review team rates the platform exceptional when it comes to intuitiveness, yet it still caters to the more technologically-advanced preferences of experienced traders as the BDSwiss’ trading software are loaded with various trading helps and functions.
Traders who prefer trading without having to download the trading software but through web browsers are served well. BDSwiss provides WebTrader for convenience and instant access to the software. Mobile application versions for mainstream devices. The app version basically shares the features the desktop format has.
Summary of Brokerage Service
Broker Type: STP broker
Regulatory Affiliation: CySEC, FSC, MNFA
Covered Jurisdictions: over 170 nations worldwide
Tradable Assets: forex, CFD indices, commodities such as metals, and oil, crypto coins, and global shares
Offered Platforms: MT4, MT5 (Desktop, WeTrader, Apps)
Funding: Bank Transfer, credit and debit card, and online payment solutions (including Dotpay Skrill, Sofort, Neteller, among othersl)
Account Offerings: Classic, Raw, VIP
Customer Support: telephone, website-enabled chat, email
H2: Verdict
BDSwiss is a good catch for both new and experienced traders as it parades a decent trading platform, an array of trading features, a resource-rich learning center, and competitive trading packages.