BDSwiss

BDSwiss is a forex and CFD broker founded in Zurich. The firm offers a wide range of instruments to over one million customers in 186 countries. This 2024 BDSwiss review will cover all aspects of trading with the broker including fees, account types, deposits and withdrawals.

What is BDSwiss?

Founded in 2012, BDSwiss is an online brokerage that serves 1.5 million clients and has an average monthly trading volume of $84 billion. The headquarters of the Group are in Zug, Switzerland and there are over ten regional locations including offices in Berlin, Germany; Limassol, Cyprus; Kuala Lumpur, Malaysia; Tirana, Albania; Pristina, Kosovo and Mauritius. Note, there is not currently a Dubai office.

BDSwiss is an STP broker that provides deep liquidity and fast execution speeds. STP brokers trade on the A book, meaning that your positions are passed straight to liquidity makers. This is the opposite to market makers or B book brokers, who take the other side of a customer’s trade.

The firm is available to clients in Australia, Canada, Hong Kong, Kuwait, Malaysia, South Africa, Qatar, Singapore, Thailand, Indonesia, Nigeria, United Arab Emirates, Saudi Arabia, Germany, Portugal, Luxembourg and Denmark and most other countries. BDSwiss no longer accepts UK customers, however, following a ban from the FCA. Its services are also not available to US residents for tax purposes.

Markets

BDSwiss offers swing trading opportunities on most popular financial markets, including:

• Forex: BDSwiss has up to 51 tradable forex pairs including majors, minors and a few exotics. FX leverage can reach as high as 1:500.
• Commodities: BDSwiss allows you to trade the price movements of popular commodities against major currencies. Instruments include Gold, Silver and Brent Oil. Leverage requirements on commodities like Gold range from 0.5% to 1.0%.
• Shares: The broker offers over 140 share CFDs on all online and MetaTrader platforms. There are over 900 shares and ETFs on the InvestPLUS account, which is only available on MetaTrader 5.
• Indices: Indices are used to track the performance of a specific sector or a group of shares. BDSwiss offers CFDs on leading indices including the S&P 500, DAX 30, FTSE 100 and Dow Jones (US 30). The index margin requirement is 1%.
• Cryptocurrencies: Traders can speculate on the price of popular cryptos and trade them against major currencies. Pairs include BTC/USD, BTC/GBP, XRP/USD and ETH/JPY. The margin requirement for cryptos is 20%. Note, there is a ban against trading crypto CFDs in the UK.

Since 2020, BDSwiss has also offered copy trading, where you can follow the positions of experienced traders. The social trading function allows swing trading and other popular investing strategies.

Note, BDSwiss does not offer options trading.

Platforms

BDSwiss offers trading services on the firm’s WebTrader or the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.

• WebTrader: This in-house developed platform focuses on simplicity, reliability, and performance. It can be used on all major browsers. The WebTrader has an intuitive and user-friendly dashboard. Importantly, it also contains advanced charting, indicator and analysis features and is available in over 20 languages. The online trading platform is fully synced with the BDSwiss app and the MetaTrader platforms.
• MetaTrader 4: MT4 is one of the most popular and widespread retail trading platforms. It is available to download for desktop (Windows, Mac, Linux) and mobile devices (Android, iOS).
• MetaTrader 5: MT5 contains all the same features and functionality as its predecessor, MT4, except with extended access to stock markets and added charting and analysis features. The terminal is suitable for more advanced swing traders.

MetaTrader 4

Account Types

BDSwiss offers three account types with varying features and spreads:

• Classic: The Classic account requires a minimum deposit of $100 (or equivalent in your base currency) and has spreads starting from 1.5 pips. It provides access to over 250 assets as well as the WebTrader, MT4 and MT5 platforms.
• VIP: This account type requires a minimum deposit of $3,000 and spreads start at 1.1 pips. It offers access to over 250 assets and all desktop and mobile trading platforms.
• RAW: The RAW account requires a minimum deposit of $5,000 and spreads start at 0.0 pips, meaning it’s the only zero spread account. With that said, this account does charge a $5 commission per trade. The solution offers access to all available assets though MT5 is not available to RAW account holders.

It is possible to open up to five accounts with BDSwiss: three Classic, one VIP and one Raw account. It is not possible to upgrade an account you have opened it. If you wish to change from a Classic to a VIP account, for example, you will need to open a new VIP account to do so.

BDSwiss offers a VPS service on a subscription service. There are three plans: Basic, Advanced and Pro with the monthly subscription ranging from $30 to $70. PAMM accounts are also available for those looking to pool their money with other investors.

Islamic Account

BDSwiss offers a swap-free Islamic account. Traders with this account can comply with Sharia Law and will not be charged overnight fees, though swap-free conditions apply for 10 calendar days only. Any position held open longer than this will be credited or debited accordingly.

You will need to send an email to the Back Office Department at backoffice@bdswiss.com to apply for a swap-free account and you may need to supply proof of your religious affiliation.

Demo Account

Prospective traders can also open a demo Classic, VIP and/or RAW account. BDSwiss allows you to open one demo solution per account type. You can adjust the default leverage on your account and set the virtual balance up to $1,000,000.

To open a demo account, new users need to complete the sign-up process and set their dashboard to “Demo”. The default demo type is the Classic account. To use a VIP or RAW demo account, select “Add new account”.

Fees

Trading fees with BDSwiss can be broken down into four categories:

• Spreads and Commissions: Variable spreads are charged on forex, crypto and commodity pairs which are dependent on your account type. Index and share CFDs are charged a fixed commission which depends on your account type. Thankfully, rates are competitive and in line with the industry average.
• Overnight Charges: Also known as a swap fee, this is charged to positions held overnight, meaning after 17:00 EST. Overnight rates vary depending on position size and traded instrument. A full list of long and short swaps is available on the BDSwiss website.
• Currency Conversions: This charge occurs when you choose to deposit with a different currency than your account currency. The currencies are automatically converted by BDSwiss and standard rates are charged. There is no markup on currency conversions.
• Inactivity Fees: BDSwiss accounts are charged a $10 monthly penalty after six months of inactivity. This charge will be made until the account balance is zero.

Note, BDSwiss does not charge any deposit or withdrawal fees except a flat fee of $10 on bank wire withdrawals of less than $100.

How To Start Trading

We have prepared a short guide to help you get started trading with BDSwiss:

1. Sign-Up

First step, log in using your investor password. If you have not yet registered, you will need to sign up through the official broker website. Depending on your country of residence you will need to use the EU or the global login page. The verification process may take a few days as your KYC documents such as proof of residence are checked.

2. Open an Account

Once you find yourself in the BDSwiss dashboard, open a live account if you are ready to trade or a demo account if you would like to practice. You can open two or more accounts.

BDSwiss has offered a 30% welcome bonus and a no-deposit bonus in the past. Check if you are eligible for these offers in the terms and conditions when you sign up.

3. Deposit

Deposit funds to activate your account. You can use a variety of payment methods including Visa, Mastercard, GiroPay, Skrill, Neteller and bank wire transfer. All deposits are processed instantly, except wire transfers which may take between one to four working days.

BDSwiss requires a minimum deposit of 100 EUR, 100 USD or the equivalent in other currencies. There are no deposit fees.

4. Trade

Make a trade. You should already have an idea of what instruments you wish to trade before you set up, as different BDSwiss platforms offer access to different assets. That considered, it can still take some time to find a trend and execute a trade. It is also important to know the opening hours of each exchange or index so you can accurately predict the periods of highest volatility and liquidity. A full list of relevant trading hours is available on the BDSwiss website.

Use leverage if you wish to increase your position size but be wary as leverage can also magnify losses.

5. Withdraw Funds

You can withdraw your revenue and any profits to the card you used to fund your account, your e-wallet and via bank wire transfer. There is no minimum withdrawal amount except if you want your funds through bank wire, where the minimum amount is $50. You will need to pay a $10 fee for withdrawals under $20, or under $100 if using bank wire. The withdrawal time depends on your chosen method – e-wallet withdrawals take less than an hour, bank transfers take up to 5 working days, and card withdrawals take between 2 and 5 days.

Speak to the BDSwiss customer service team if you are unsure about withdrawing your funds, or if you have not received your funds after 10 days.

Customer Support

You can get in contact with BDSwiss through a variety of channels. Their multilingual customer support team is available 24 hours a day, five days a week. There are seven local phone numbers for customers speaking English, German, Italian, Spanish, French, Greek and Portuguese. For general inquiries, such as how long to withdraw, you can email info@bdswiss.com and write to two addresses: one in Cyprus and one in Germany.

If you need immediate support with difficulties such as a deposit has failed or withdrawal problems, your best bet is to give them a call. There is no live chat function available. You can also email support@bdswiss.com where you should receive a reply within 24 hours. Official complaints can be sent to complaints@swissmarkets.com.

Education

BDSwiss offers extensive educational resources for traders of all levels. Investors with an account can access forex lessons, live webinars and trading ebooks through the website. The brand’s YouTube channel also features tutorials and how-to guides available to those without an account. VIP clients can schedule one-on-one advice sessions with professional traders.

The BDSwiss website also offers useful tools to improve the trading experience, like a forex calculator, an economic calendar, access to Autochartist tools and a BDSwiss Telegram channel with market news and trading alerts. VIP and Raw account holders can access a VIP channel with real-time market alerts.

Finally, you can find company news such as jobs and vacancies through the BDSwiss Facebook, Instagram and Twitter channels.

BDSwiss Regulation

BDSwiss has a long history of top-tier regulation and is registered across the world with reputable financial bodies. For example, in Europe, BDSwiss operates under BDSwiss Holding Limited, registered in Nicosia, Cyprus. It is regulated by the CySEC (Cyprus Securities and Exchange Commission) and the EU commission and registered with Spanish, Norwegian and other supervisory agencies. In Germany, BDSwiss GmbH is the registered agent with offices in Berlin. In other countries, traders sign up with BDSwiss Markets, registered in Mauritius, and with BDSwiss Limited, authorized by the Financial Services Authority in the Seychelles.

BDSwiss was regulated by the FCA in the UK until the Summer of 2021, but has since been banned from taking on UK clients for providing unprotected trading services.

Security

BDSwiss uses different systems to protect customer privacy and funds. Traders’ personal information is encrypted and all card transactions are protected using SSL.

You can also add an extra layer of security to your account by activating two-factor authentication (2FA). Once you have done this, you will need a one-time password sent to your phone to log into your MetaTrader 4 or MetaTrader 5 account.

BDSwiss also offers a negative balance policy to its customers, meaning your losses are limited to your initial investment.

Advantages

Reasons to start trading with BDSwiss include:

• Secure MT4 login
• Leverage stocks and shares
• Negative balance protection
• Access a wide range of assets via CFDs
• Multiple accounts to suit different types of traders
• Copy trading available unlike at alternatives like Exness
• Wide selection of educational resources available versus brokers like OctaFX

Disadvantages

Drawbacks to opening an account with BDSwiss include:

• Some user reviews on Trustpilot and Reddit complain of delayed withdrawals
• BDSwiss does not accept UK or US customers, unlike Trading212 and FXTM
• High minimum deposit versus brands like XM and XTB
• $10 monthly inactivity fee

BDSwiss Verdict

BDSwiss is a reputable broker with top-tier regulation, though its recent ban in the UK from the FCA has been a blow to its reputation. Still, as our review has found, the range of trading products, high leverage and multiple account tiers, will meet the needs of most aspiring swing traders. Sign up today to get started.

FAQ