BDSwiss Review 2022 on Trader Union. It is a website that provides general information about BDSwiss AG and its subsidiaries and affiliates. Traders Union article may act as a publisher of financial news, information, and data to professional investors.
The proprietary WebTrader platform is user-friendly, but it’s missing some of the more popular features. This pulled down the score in the platform category.
If you are located outside of the EU, the FSC regulates the markets offered at BDSwiss. This means you get less protection, but it’s a great choice for anyone looking to get started trading. The platforms are easy to use and offer good education and research resources.
With the Classic account, you’ll get access to basic trading tools. With VIP and Raw accounts, you’ll get access to advanced tools that cater to experienced traders.
What sets BDSwiss apart from other brokers?
BDSwiss has proprietary web and mobile platforms, it offers MetaTrader 4 and 5, and it offers some unique tools, such as the Trend Analyser powered by Autochartist.
If you have multiple traders, you’ll need to consider which trader profiles are most suited to your needs. The more complex your order processing strategy, the more versatile and robust the service is.
For new traders, the classic BDSwiss account offers an intuitive platform, reliable customer service, and a broad range of research and educational resources. BDSwiss can also cater to more sophisticated traders with its other three account types, which provide access to more competitive pricing and advanced trading tools.
It is necessary to take many factors into account when selecting a broker and check for things such as stability, transparency, and whether the broker is easy to reach.
BDSwiss scored a little lower than average on our scorecard. They provided very few documents on their website, so we’re left to guess what their fees are or what other regulations they’re subject to. We also weren’t able to find much information about their company.
Costs
With a standard account (Classic), BDSwiss costs are high, while others are competitive. Different account options can help you save money on trading. The Classic Account earns money mainly from spreads (the gap between the bid and offer prices of an asset).
In stock market terms, tighter spreads mean that the bid and ask prices have moved closer together, usually because of greater liquidity in the market. You can see this phenomenon happening with stocks in a live account.
To gain a better perspective, we conducted our experiments in two separate periods. The London open is at 8 a.m. GMT when there is a lot of liquidity in the forex market and thus tighter spreads in currency pairs. 3 p.m. GMT is a quieter moment, just before the New York stock exchange opens.
The market is not as friendly to new entrants as it was several years ago. While you can spread your money, it will be much harder to get your positions back if you make a mistake.
Swap fees were roughly average at BDDswiss. Overnights are the cost of holding a position overnight and they are calculated according to the price at which you bought or sold a given product.
When the market moves in your favor, these are essentially interest payments to cover the cost of the leverage that was used overnight. The table below shows the swap long (the cost/credit of holding a buy position overnight) and the swap short (the cost/credit of holding a sell position overnight) for one full-sized contract.
A minimum of 20.00 GBP/USD/GBP is charged and deducted from the balance in the account. BDSwiss does not charge any fees on deposits or withdrawals processed via credit card.
BDSwiss does not impose any fees for credit card deposits and withdrawals. BDSwiss, on the other hand, will charge a fixed fee of 10 EUR/USD/GBP for bank wire withdrawals equal to or less than 100 EUR/USD/GBP.
Account types
The account opening process at BDSwiss is completely digital and can be completed in about 20 minutes. You can open a trading account with the offshore BDS Markets entity.
To get started, enter your name, country of residence, date of birth, phone number, and email address. If the person provides information in their application that conflicts with other data about them, Amazon suspends the person’s account.
All accounts are available to any investor. For example, you can open a Raw account if you don’t want to see the data in your account or a Classic account if you are looking for the full account service. Click here to learn more about copy trader software.
Demo Account
BDSwiss offers an unlimited demo account with up to 1,000,000 €/$/£ of virtual money to help you practice trading risk-free. Accounts can be funded with up to 1,000,000 €/$/£ of virtual money.
This is an essential tool for beginners to practice their strategies and get comfortable with the trading platform without risking any real money. Demo accounts are available for MetaTrader 4 and MetaTrader 5, and they can be utilized with a variety of account types.
Deposit and Withdrawal fees
BDSwiss does not charge fees for credit card deposits or withdrawals. It does impose a fee for bank wire withdrawals of 100 EUR/USD/GBP or less.
Bank wires are one of the easiest ways to transfer money from your bank account to a peer-to-peer service, but they usually come with a flat fee. In this example, the wire fee is 10 EUR/USD/GBP.
Deposits
BDSwiss offers no-fee deposits, and cash is usually available right away. You should receive funds within a day or two if your bank enables direct bank transfers.
Withdrawals
Withdrawals made by bank transfers can take up to 5 working days to settle.
Bank Wire Transfer requires a minimum withdrawal of 60 EUR/USD/GBP. The following methods of withdrawal are available: When using a Bank Transfer, the funds can take anywhere from 2 to 5 working days to reach your account once the withdrawal has been approved.
Customer Service
BD Swiss offers competent customer service via live chat, phone, and email. The agents are available 24/7. The level of customer service received overall was satisfactory. Replies to customer support inquiries were fast.
If your business offers multiple shipping options, they have a unique program where you choose what’s best for you and pay a flat rate.