Probably known for its international scope and its strong regulatory background, BDSwiss is one brokerage that would be good to consider for multi-asset trading namely, Foreign Currencies and CFDs. The matter stands however, that there are other points of contention when dealing with brokerages.
People are usually quick to attribute their losses to the financial firm that they had chosen to enlist with. It is not hard to find reviews that blame brokerages, making bold accusations of fraud and scamming without really looking at volatility, the time in which the trades were executed, the instruments actually traded, and, quite frequently, the terms and conditions that govern the trade within the brokerage. It is highly likely that these factors into the loss incurred during trading and should be noted carefully at all times.
In this short review, these, alongside the key offerings would be looked upon so as to paint a holistic picture of BDSwiss’s capabilities and competencies as it functions in the trading industry.
What You Need to Know First
BDSwiss was established back in 2012 in Zurich, Switzerland. Since its inception, it had gone to be regulated by one of the most notable financial authorities in the industry, CySEC. As it is a full-fledged member of the European Union, its regulation is guided by the MiFID and MiFID, thus providing its users security and a trading environment that takes care of the traders’ investment. The firm is also registered under the Mauritius FSC as it operates in the offshore region.
BDSwiss is also a member of the United States’ NFA which offers complete client protection.
On top of this, BDSwiss is a recipient of a number of accolades which recognizes the good trading conditions the firm fosters, the financial instruments it provides, and the partnership program it offers. All the awards were given in the year of 2020 and 2019, giving us the idea that it took some time for BDSwiss to actually get a solid reputation and solid grounding.
The firm’s legal trading name is BDSwiss Holdings PLC which had been allowed to operate across different territories including the EEA zone and Germany.
With all these going for BDSwiss, traders are guaranteed to be in good hands.
The Offerings: What BDSwiss Traders are In For
While the regulatory status had assured BDSwiss clients and interested parties, it is in the key offerings that they would be able to ascertain completely if trading through firm would be a viable option.
Key Asset Classes
As already mentioned, the primary financial instruments that BDSwiss opens its clients to are Foreign Currency pairs and CFDs. The Forex Pairs that are allowed to be traded through the firm amount to over 50 pairs.
Alongside these, BDSwiss also provides access to over 250 underlying assets which include 5 Commodities, 20 and above Cryptos, over 140 Equities, and 10 Indices.
Available Live Trading Accounts
Opening an account with BDSwiss is completely electronic which may be done through the firm’s website or through Facebook or Google. All that the user needs to do is provide pertinent details and documents. Using the account may immediately be done once it is activated.
The accounts that can be opened with BDSwiss have four types namely, the Classic, RAW, VIP, and InvestPlus Account.
The costs for trading are at a low with the firm, this is especially true for the Raw and the InvestPlus accounts. What’s notable about the VIP and the Classic Accounts is that these are spread-only accounts, while the Raw Account has interbank spreads and charges commissions for every lot.
InvestPlus is the one account with the most enticing CFDS offers. With the account over 1000 CFDs are available with low commissions of a measly 0.1%.
Traders would not be subjected to empty accounts in that these are safeguarded by BDSwiss’s negative balance protection.
In addition to the four account types, the firm also offers a Demo Account for Forex or CFDs.
Withdrawals are not charged at all, but should the account fall into inertia, fees would definitely be implemented.
Offered Trading Software
BDSwiss offers two trading software, the first one is the industry popular, MT4 and the second one, the BDSwiss WebTrader.
It is no longer new to the trading community that MT4 is a speedy software. It offers a wide range of trading tools such as technical indicators, trading signals, highly-customizable charts, economic news, among many others.
The BDSwiss WebTrader as its name suggests, is the firm’s proprietary platform that can be accessed only online. It cannot be downloaded or installed in any capacity to the trader’s devices. The software offers analysis and tools for risk management.
Customer Support System
Probably one of the things that turn traders off about BDSwiss, is its lack of a reachable support system round-the-clock. This is something that the firm can easily improve on by hiring more backend individuals to cater to pressing question that clients may have.
The Entire Picture
All-in-all, save for the improvement that had been suggested for the firm’s support system, BDSwiss’s services may be rated within the range of decent to great. The trading tools provided are more than sufficient to create good trading conditions.
The trading platforms are efficient and notably work fast.
The review team wholly recommend trading through BDSwiss.