When choosing a forex broker, it is important to look at every aspect from top to bottom. This is to ensure that you’re not going to be funding a firm that will run away with your money. In order to ensure the safety of your funds, we’ve reviewed some of the top forex brokers in the industry. Today we’re going to be diving into a BDSwiss review to find out if it’s a safe broker or a scam.
Know About BDSwiss before the BDSwiss Review
BDSwiss is a company that specializes in the international brokerage business and was founded in 2012. This broker became one of the leading trading organizations in a short amount of time after swiftly approaching the marketplaces.
More than 1.5 million customers from over 186 different countries make up the present client base of BDSwiss. In addition to this, they provide services to a members-only club that has a membership of over 1.5 million traders.
Since Switzerland was the inspiration for the method used in the development of the company, its robust foundation is demonstrated by the high-quality environment that the company created. Since then, it has been functioning worldwide, with high-speed internet trading services from established offices in Malaysia, Albania, and Kosovo.
BDSwiss Types of Accounts Offered
Classic, VIP, and Raw are the three different types of accounts that may be opened with BDSwiss. These were developed to meet the diverse requirements of forex traders while simultaneously reducing associated expenses. This is done based on the trade sizes, and after the numbers rise, sophisticated services are provided.
Raw accounts incorporate interbank spreads, and commission is assessed on a per-lot basis, in contrast to Classic and VIP accounts, which are structured solely based on spreads. The Euro (€), the United States Dollar ($), and the British Pound (£) are the three options available to you when you set up your trading account. You may choose the one that best suits your needs by clicking on the appropriate symbol.
This is excellent since it indicates that you will not be charged any fees associated with currency conversion. Because of the protection against negative balances provided, the amount in the account can never go below zero. This is another reason why this is a fantastic feature.
BDSwiss Trading Tools
BDSwiss provides its customers with a web-based platform and a mobile app. These are easy to understand, although they are missing certain popular features. Clients also have access to MetaTrader 4, as well as MetaTrader 5, which are both more advanced platforms.
The BDSwiss web platform is available in more than 20 different languages and can be accessed through any browser. The UI of the platform is straightforward and simple to use. However, it does not offer a great deal of customization. The most fundamental order types are at your disposal, including market orders, limit orders, and stop loss orders.
It is not possible to place more complex order types such as trailing stops at this time. Trading recommendations are provided by an integrated tool for trend analysis, which does this by recognizing chart patterns such as triangles and wedges.
BDSwiss Trading Conditions
BDSwiss is a broker that operates as both a Market Maker and an STP. The company claims that the majority of the trades are processed directly through liquidity providers. Market maker brokers are the ones that decide what the bid and offer prices are internally and automatically take the opposite side of their customers’ trades.
BDSwiss provides its users with a variety of tools that might assist them in gaining a better understanding of the industry. Among these are an economic calendar, a tool for analyzing trends, and a heat map that displays the currency pairings that are the most actively traded.
BDSwiss offers study materials that are constantly updated and of a decent quality, which is, in our opinion, higher than the norm for the industry. Materials can accommodate both novice and experienced traders in equal measure.
BDSwiss Offering of Investments
Access to a smooth trading experience is provided by BDSwiss over a vast range of more than 250 underlying assets. You have the option of trading CFDs on a wide range of prominent indices, forex pairs, commodities, and cryptocurrency pairs.
However, the variety of instruments available to you will be determined by the type of account or BDSwiss organization that you utilize. As a result, because you have access to the most liquid and popular markets, you are able to select the instrument that best suits your trading needs while also satisfying any preferences you may have.
BDSwiss Customer Service
BDSwiss provides knowledgeable customer assistance through various mediums, including live chat, phone, and email. Agents are accessible 24/5. Overall, the quality of customer care provided was satisfactory, which made us happy. Quick responses were given to questions asked of the customer care team.
During a live chat session, your question is initially handled by a bot. If the bot is unable to provide an adequate response, you have the option of proceeding directly to a human agent. There was never any wait time for phone calls, and e-mails were always answered within a couple of days at the most.
Agents went out of their way to assist us, and the vast majority of the time, they were immediately prepared with answers to whatever queries we posed to them. If they were unsure about something, they instantly consulted a coworker and reported what they found out.
In addition to providing its customers with top-notch support and assistance, BDSwiss teaches its customers through its in-house academy. Educational materials, including seminars and webinars, offer important knowledge on how to establish one’s own trading strategy.
Additionally, the broker provides daily webinars which are an excellent opportunity for all traders to increase their understanding of forex trading. You will also get access to helpful information such as market notifications, trading information, and analysis, all of which are unquestionably essential for any trader, particularly new traders.
In addition, the firm maintains a lively blog and a community of traders, which enables users to share their experiences and get a deeper understanding of the financial markets as well as trading in general. This blog is going to be such a lifesaver for you!
BDSwiss has several regulatory licenses worldwide, one of which is held by the Financial Conduct Authority in the United Kingdom (FCA). However, due to a limitation imposed by the regulator, BDSwiss’ services are now unavailable to residents of the United Kingdom.
This means that BDSwiss cannot accept new customers from the United Kingdom at this time. Having said that, BDSwiss possesses numerous regulatory licenses within the EU, one of which comes from Cyprus, where it is permitted by the Cyprus Securities and Exchange Commission (CySEC). The company also possesses an offshore regulatory license from the country of Mauritius, which is located in the Indian Ocean.
BDSwiss Deposits and Withdrawals
BDSwiss collaborates with various payment service providers, which increases the likelihood that you will have access to a comprehensive selection of deposit options inside a given nation. Customers of BDSwiss can pick their preferred mode of depositing funds before they fund their accounts, and there are no fees associated with any deposits.
BDSwiss will take initial deposits and will process withdrawals through the use of immediate transfers, bank transfers, or credit card transactions. The processing time for outgoing credit card payments is normally between two and seven business days. The fact that the BDSwiss Classic account requires only a deposit of one hundred dollars appeals to many traders.
BDSwiss Advantages & Disadvantages
This BDSwiss review should give you a pretty good idea of what to expect if you’re looking to trade with BDSwiss. We will now compile all the main pros and cons we’ve learned through making this review so you can have a clear-cut way of looking at your options. They are as follows
- Offers services on both the MT4 and MT5 platforms
- No requotes or order rejections
- Offers Auto chartist and other trading tools
- Provides accurate trading signals through Telegram
- VIP clients gain access to trend analysis
- Lack of educational resources
- Spreads are higher than market rates
- Scalping is not permitted with this broker
- Does not accept clients from certain countries worldwide
- Charges a 10% inactivity on over 90 days of no activity
Is BDSwiss the Right Broker for You?
Hopefully, this BDSwiss review will be enough helpful for you to decide if it is the right broker for you or not. The BDSwiss trading platform, which has won several awards, lives up to its great record. It features an online environment that provides good trading conditions for both new investors and those with more expertise. BDSwiss offers its clients a wide variety of products and services, all of which are designed to precisely complement their trading experience.
They can be accessed through either their own proprietary web platform or mobile application. Any level of trader may choose an account type that is ideal to meet their individual trading demands. This includes traders who like to have their funds managed by someone else and traders with professional knowledge that they desire to share with other traders.