BDSwiss – Introduction, review, and test (2020)

Broker comparison – who is the best? In this article, we are introducing BDSwiss.

About BDSwiss

The online broker BDSwiss is a European service provider primarily specialized in CFD and currency trading. The company is headquartered in Switzerland (Zug) and was established in 2012. 

BDswiss Logo

Ever since when the online broker has been able to generate a considerable customer base and is now serving just under 1 million clients around the globe that are already relying on the trading services of BDSwiss.

According to the information provided by the company, it attaches the greatest importance to factors such as modern platforms, a competent customer service, and a high-quality trading environment.

Awards won by the online broker so far

Before going into the details of BDSwiss’s services and proposals, let us take a brief look at the awards the online broker has been able to garner already in the past. In this respect the service provider advertises itself with prizes it has been able to win in three different categories:

  • Mobile Star Awards 2018 & 2019: Best Trading App
  • World Finance 2019: Best Trading Conditions
  • Forex Global Awards 2019: Best Trade Execution

Regulation of and deposit protection with BDSwiss

One aspect that has a major role to play in any search for a suitable online broker is the matter of regulation and deposit protection. As BDSwiss is part of the business division of BDSwiss Holdings PLC – a company under Cypriot law –it is also regulated by the Cypriot financial supervisory authority, meaning that the competent authority is the Cyprus Securities and Exchange Commission (or CySec for short).

As a result, the online broker is required to meet the strict requirements of this authority and duly execute its clients’ trades. Client deposits at BDSwiss are insured by the Cyprus Investor Compensation Fund for up to 20,000 euros per client.

Apart from this, the BDSwiss GmbH in Germany (based in Berlin) is a registered tied agent of BDSwiss Holding PLC.

Tradable instruments available at BDSwiss

At this juncture, we should finally turn to the various tradable instruments the online broker provides for its clients to choose from. As already mentioned above, BDSwiss is a CFD & forex broker. With this provider, investors can trade more than 250 underlying assets at leading stock exchanges.

Indexes

To start with, investors can trade over 10 indexes at BDSwiss, including the most important stock indices from Wall Street through to the Netherlands.

Cryptocurrencies

Cryptocurrency trading is another trading service of this online broker. With over 20 different digital currencies, the internationally leading cryptocurrency pairs can be traded 24/7.

Forex

Another area that will surely be of interest for many traders at BDSwiss is their range of Forex services, where the forex broker is relatively well-positioned with more than 50 currency CFDs. Besides the classic majors, the service range also includes a number of minor and exotic currency pairs.

Commodities

Another rubric of tradable instruments at BDSwiss embraces commodity CFDs, where clients can choose from various CFDs on commodities such as oil, gold, natural gas and more.

Stocks

Last but not least, the provider also enables its clients to trade shares. This area is actually the most extensive in the online broker’s range of services with over 140 tradable products. In this respect, traders can choose from hundreds of shares listed at 4 international stock exchanges.

Trading conditions at BDSwiss

Having outlined the online broker’s various tradable instruments in the previous section, this one is about the trading conditions one can expect as a client of BDSwiss. But before we go into the details of the fees for the respective trading instruments, a brief overview of the general fees becoming due seems in order here.

Overview of the conditions provided

There are essentially 4 cost items to be taken into account in this context at BDSwiss.

Overnight fees

The first to be listed here are the Overnight fees charged for positions that remain open until the following day.

Currency conversion

There may not be any direct conversion fees, but the selected deposit currency will be automatically converted in keeping with the standard exchange rates of BDSwiss. This only applies to cases where the initially selected account currency differs from the deposited currency.

Spreads and commissions

The spreads and commissions make up the lion’s share of the conditions at the online broker. What this means at BDSwiss is that spreads will be charged for all “non-stock” CFDs (commodities, currencies, and cryptocurrencies), and commissions on all stock CFDs (shares and indexes).

Inactivity fees

If there are no trading activities for a period of more than 90 days, an inactivity fee will become due on top of the above. This means that 10 % of the account balance is charged as a fee every month. 

After detailing the online broker’s various fees, we should now take a closer look at the individual instruments. As a list including every single underlying asset would obviously be impossible for reasons of space, the following will merely be devoted to some of the most popular ones

Indexes

IndexesSpreadsLeverageTrading volumeStop loss
GER 30from 1.0 (was?)up to 1:20from € 1 per pipfrom 3 pips
US 30from 2.0up to 1:20from $ 1 per pipfrom 3 pips
NAS 100from 1.5up to 1:20from $ 1 per pipfrom 3 pips
GBR 100from 1.0up to 1:20from £ 1 per pipfrom 3 pips

Cryptocurrencies

CryptocurrenciesSpreadsLeverageTrading volume
BTC/USDfrom 160.0 (was?)up to 1:2from 0,01 lots 
ETH/USDfrom 36.0up to 1:2from 0,01 lots 
XRP/USDfrom 0.020up to 1:2from 0,01 lots 
LTC/USDfrom 5.0up to 1:2from 0,01 lots 

Forex

ForexSpreadsLeverageTrading volume
EUR/USDfrom 0.2 pipsup to 1:30from 0.01 lots
USD/JPYfrom 0.2 pipsup to 1:30from 0.01 lots
EUR/JPYfrom 0.4 pipsup to 1:30from 0.01 lots
GBP/USDfrom 0.3 pipsup to 1:30from 0.01 lots

Commodities

CommoditiesSpreadsLeverageTrading volume
Goldfrom 0.1 (was? %?)up to 1:20from 0.01 lots
Silberfrom 0.05up to 1:20from 0.01 lots
US Oilfrom 0.3up to 1:20from 0.01 lots
Brentfrom 0.3up to 1:20from 0.01 lots

Stocks

SharesSpreadsLeverageTrading volumeCommission
Amazonfrom 1.0 (was?)up to 1:5from 1 lot0.15 %
Applefrom 1.0up to 1:5from 1 lot0.15 %
Googlefrom 1.0up to 1:5from 1 lot0.15 %
Microsoftfrom 1.0up to 1:5from 1 lot0.15 %

Which trading platforms can be used at BDSwiss?

Another aspect that has an important role to play besides the trading conditions of an online broker are always the trading platforms made available by the respective provider. In this context, BDSwiss offers its clients various software programs for trading. The options on the one hand include the popular MetaTrader software (both MT4 and MT5). And on the other they can also select the proprietary trading platform of BDSwiss. 

MetaTrader 4

The MetaTrader 4 trading software is a globally leading trading platform provided by many online brokers – as is the case with BDSwiss. Its advanced technology and user-friendly user interface provide traders with optimal conditions irrespective of their previous experience.

The platform includes a variety of useful tools and functions for analysing and evaluating price movements. In addition to this, trades are uncomplicated to execute and process, and the use of expert advisors for automatic trading is also possible without problems. Not least of all, the platform is also individually adjustable, meaning that it can be customized to the trader’s own needs and strategies.

See below for a list of some of the advantages offered by the trading platform in key points.

  • Daily account overview
  • Real-time overview of the trading account
  • Various diagram and analysis options
  • Free analysis tools
  • Permanent supply of current news directly in the trading platform
  • Compatibility with the BDSwiss WebTrader 

MetaTrader 5

This further development of the MetaTrader 4 software can also be used for trading at BDSwiss. MetaTrader 5 not only provides the user with the essential functions of its predecessor, but also a whole range of other helpful tools. Its professional trading tools and many indicators will help the investor trade more effectively and base decisions on well-founded analyses.

BDSwiss enables clients to trade an expanded number of underlying CFD assets with minimal slippage while benefitting from very short latency periods.

MetaTrader 5 is not referred to as the “world’s most advanced platform” without reason, which is inter alia attributable to the software’s following advantages:

  • More than 80 technical indicators and over 40 analytical objects
  • 100 diagrams can be displayed simultaneously
  • Expanded order types (including pending, stop orders and trailing stops)
  • Automated trading with expert advisors
  • Multi-asset trading with over 250 CFDs
  • Internal mailing system

BDSwiss WebTrader and/or mobile app

As already mentioned above, BDSwiss also offers a proprietary trading platform in the form of its BDSwiss WebTrader and/or mobile app. Clients can thus trade from any device they choose using the browser-based WebTrader without needing to download any software for this, meaning that a working internet connection is all they need.

The WebTrader also convinces with its easy manageability and a trading interface design that keeps things simple and therefore easy to control. The BDSwiss video below affords a brief insight into the adequate operation with the WebTrader.

In addition to this, the online broker has also developed a BDSwiss mobile app. This enables traders to always keep an eye on the development of the financial markets from their mobile, and also access their own trading account in the process. The provider lists the following aspects on its website as advantages of the mobile app:

  • Interactive diagrams
  • User-friendly trading interface
  • Full history of trades and transactions   
  • Account creation & KYC (know your customer) verification
  • 24/7 trading of cryptocurrency pairs

Account types to choose from at the online broker

Let us now take a look at the account types available at BDSwiss. The online broker essentially offers three different account models that cater to the respective needs of various traders:

  • Basic Account
  • Raw Spread Account
  • Black Account

While the Basic Account model is primarily recommended for novices to trading, the Black Account is most of all designed for more experienced traders. The Raw Spread Account meanwhile offers an alternative enabling spreads from 0.0 pips to be traded with monthly subscriptions

The following table serves to highlight the differences in the conditions provided by the respectively selected account type in some greater detail:

ConditionsBasicRaw SpreadBlack
Average spreads EUR/USD1.50.31.1
Trading instrumentsover 250 assetsForex & goldover 250 assets
Minimum lot size0.010.010.01
Maximum lot size501050
Leverageup to 1:30up to 1:30up to 1:30

But there are also differences between the account types where the availability of various trading tools is concerned.

BDSwiss trading tools overview

Options for making deposits and withdrawals at BDSwiss

Once you have opted for BDSwiss as an investor, your next step would consist of capitalizing your own live account. The online broker offers a whole range of options here for making deposits as well as withdrawals

Deposit options

  • VISA, Mastercard
  • Maestro
  • giropay
  • Instant transfer
  • eps
  • iDEAL
  • Skrill
  • Neteller
  • Bank transfer
  • PayPal

Withdrawal options

  • VISA, Mastercard
  • Skrill
  • Neteller
  • Bank transfer
  • PayPal

Withdrawals will usually be processed within 24 hours. In the process, BDSwiss will cover any fees to become due with deposits as well as withdrawals. 

Customer service at BDSwiss

Another important point is always the customer service provided by an online broker. BDSwiss is well-positioned in this regard and can be contacted by various channels if you have any problems, questions, or other concerns. A support team is available for this 24/7. The online broker can be contacted in the following ways:

  • WhatsApp
  • Telegram
  • E-mail
  • Return call
  • Live chat

The telephone support is furthermore available in 10 different languages. In addition to which there is also a prefabricated contact form for you to send your requests.

Demo account at BDSwiss

The online broker is also offering a demo account by now. This is most recommended for traders who want to try out the provider initially without needing to run a financial risk. BDSwiss fails to provide any information on its website about the period of use or amount of virtual capital, however.

Experiences with BDSwiss so far online

In conclusion, let us take a look at the experiences made with the online broker so far on the internet. Although quite mixed, the reviews of the provider’s clients tend to be positive on the bottom line. In addition to the fair fees charged by BDSwiss, the customer service is also reliable as a rule, and will come up with a suitable solution reasonably quickly, should there be any problems. 

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