- Name : BDSwiss
- Website : bdswiss.com/en
- Established : 2012
- Regulation : CySEC
- Country : Cyprus
U.S. Clients Allowed :
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BDSwiss ReviewBDSwiss Review
BDSwiss is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 199/13.
BDSwiss offers a Forex/CFD account in addition to its Binary Options trading account. There is one type of Forex/CFD account without any gimmicks or distinctions.
The company offers spreads which are not surprising for its market and a very high maximum leverage of 400:1– all for a minimum deposit of just $100 or €100 (which can easily be deposited via credit card, wire transfer, or a wide range of other methods).
Traders can set up an account within minutes once all of the necessary compliance documents are uploaded.
BDSwiss allows trading in a very wide range of assets including individual stocks, commodities including gold and oil, forex, and equity indices. Many of the instruments are offered for trading as CFDs.
Contracts for Differences (CFD) give traders all the benefits of owning a particular stock, index, or commodity position – without having to physically own the underlying instrument itself, enabling clients to trade the change in price of multiple commodity and equity markets, with leverage and immediate execution. A customer enters into a contract for a CFD at the quoted price and the difference between that price and the price when the position is closed is settled in cash – hence the name “Contract for Difference” or CFD.
BDSwiss provides commission-free trading, with the exception of stock CFDs which include a commission per trade of 0.1%. Spreads go as low as 1.2 pips on the benchmark EUR/USD currency pair.
Leverage of up to 400:1 is available for Forex, 100:1 for most commodities and indices, and $100 for individual stocks. This means that an account funded with $5,000 could open a $500,000 position in spot Gold, for example.
BDSwiss have a leverage policy for some assets that is quite different from many of its competitors. Usually, maximum leverage is expressed as a ratio or percentage. However, BDSwiss applies dollar minimums as leverage against many soft commodities, indices, and individual stocks. If this is confusing, be assured that the net result is quite similar to the usual margin requirements for these types of assets by other brokers within the industry.
A demo account is available for new traders or any other traders who wish to practice new trading strategies before moving on to a real account. This “paper trading” can be useful as a test run before making any financial commitment.
The major trading platforms offered are Metatrader 4 and Webtrader, the latter of which is most noted for its features of “trading cubes” which can speed up trade execution, and a “visual trends” charting tool which allows the major market trends to be assimilated at a glance.
No BDSwiss review would be complete without mentioning the fairly wide range of 35 individual equities available for trading. There is also a fairly wide range of commodities offered, including softs such as corn, sugar and wheat.
BDSwiss seems to be a gimmick-free broker, offering the concrete and useful features that one would expect from a competent broker: popular trading platforms, mobile phone compatibility, a wide range of assets, and an education section on their website which includes a blog full of popular topics and an economic calendar with extra highlights of upcoming special events.
Bonuses and Promotions
BDSwiss offers no bonuses or promotions regarding Forex/CFD trading accounts as at the time of writing. This could be interpreted as a sign that the company is more interested in a strategy of attracting customers with good service instead of gimmicks.
Deposits may be made with major credit cards, skrill, or by wire transfer.
Withdrawals may be made via wire transfer.
BDSwiss is headquartered and Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). On a regular basis, BDSwiss submits its financial reports to CySEC for review and moderation.
Client accounts are segregated and reviewed every day.
Investor Compensation Fund Policy
BDSwiss is a member of the Investor Compensation Fund for Customers of Cyprus Investment Firms and other Investment Firms which are not credit institutions, which was espablished under the Investment Firms Law 2002.
The object of the Fund is to secure the claims of the covered clients against the members of the Fund by the payment of compensation for their claims arising from the covered services provided by its members, so long as failure by the member to fulfil its obligations has been ascertained.
The Fund may pay a maximum amount of EUR 20,000 as compensation as an aggregated amount to any qualifying retail client.
- Wide range of tradable assets
- Choice of popular trading platforms
- Very high maximum leverage available
- Spreads not as discounted for larger depositors
Review info: BDSwiss
Review Date: 2016-09-22
Rating : 3
Reviewed By : Sara Patterson (Google+)