BDSwiss – Review Introduction
If you’re new to cryptocurrency trading, you know that finding the right broker can be confusing. From withdrawal fees to customer service, there are lots of factors to take into account.
If you’re considering BDSwiss, we’re here to help you determine if this is the best platform for you based on its features. In our BDSwiss.com review, we’ll cover everything you need to know about this cryptocurrency trading platform. We’ll even answer common questions most beginners have, including:
- Who is BDSwiss for?
- How secure is BDSwiss?
- Is it possible to get BDSwiss free stock?
BDSwiss Quick Summary
So, what is BDSwiss? It’s an online trading platform that offers forex (FX) and CFD trading. It covers a range of fiat currencies, stocks, commodities, indices, and cryptocurrencies.
Since launching in 2012, this award-winning broker serves more than a million clients. Although BDSwiss is based in Switzerland, this broker has over ten different offices, enabling it to cater to clients worldwide.
According to its website, BDSwiss offers more than 250 CFD trading instruments on the market’s biggest cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.
The broker has a native trading platform called BDSwiss WebTrader as well as a branded mobile app. It also supports MetaTrader 4 and 5, a third-party electronic trading software that’s licensed to different brokers.
Who is BDSwiss For?
If you’re wondering, ‘can you use BDSwiss in the UK?’, know that you’ll have no worries. It is available to clients in 186 countries worldwide, including the United Kingdom. BDSwiss Group — the broker’s parent company — is licensed to operate in the European Union, United States, and some parts of Asia, with more than 1.5 million accounts registered. So, anybody in these regions can use this platform.
Depending on your experience level and budget, this platform offers various account types to cater to different traders. These accounts range from the beginner-friendly Classic account, which you can open with as little as $100, to InvestPLUS, which starts from $5,000.
All of these plans require a fee, so you cannot get BDSwiss free stock or crypto trading. As a result, BDSwiss is for people that can afford at least the Classic plan.
When writing our BDSwiss review, we were pleased to learn that a demo trading account is available for novice investors. (You may also see this referred to as a BDSwiss paper trading account). This is a trading simulator that’s linked to the in-house BDSwiss WebTrader, enabling you to put your skills into practice before you trade your hard-earned cash.
This demo simulator makes this platform great for beginners because you get to test out its features before risking any loss.
BDSwiss Company Information
The BDSwiss Group includes BDSwiss, BDSwiss Markets, and its related company BDS Swiss Markets Global (the main website operator).
As its name suggests, the company is headquartered in Zurich, Switzerland but has additional offices worldwide. This makes it a truly global brand.
But is BDSwiss legit?
Since 2012, the platform has won a number of industry awards and titles. Among others, these include:
- Best Trading App 2018–2019 by Mobile Star Awards
- Best Trading Conditions 2019 by World Finance
- Best Forex Trade Execution 2019 by Global Forex Awards
- Best Trade Execution 2020 by International Investor Magazine
Thankfully, the company as a whole is fully regulated in many jurisdictions. It follows the regulations of the:
- Cyprus Securities and Exchange Commission (CySEC)
- US National Futures Association (NFA)
- Financial Services Authority in Seychelles (FSA)
- Financial Services Commission (FSC) in Mauritius
Another advantage we discovered while writing our BDSwiss review is the company’s commitment to corporate social responsibility. BDSwiss Group has given financial support to several charities, from the UN World Food Programme to the Elpida Foundation. So, not only is this company legit, but it’s also philanthropic.
Several key factors set this platform apart from the competition. Below, we’ve summarised the main advantages of using this online broker.
- The trading company has been widely recognised for its trading app and trade execution.
- Several regulatory bodies oversee the platform.
- The award-winning mobile app is available for both iOS and Android phones.
- There’s a demo trading account available to help beginners get to grips with the technology.
- It offers both MetaTrader 4 and 5, as well as its in-house trading platform.
- Ultra-low spreads are available on its CFD instruments.
- There’s a wide range of educational and research resources on its website.
- The company regularly donates to charity.
- Flexible leverage is available when trading cryptocurrency.
- It doesn’t charge a commission on cryptocurrency trades.
- There are four different accounts available to suit a range of experience levels and budgets.
- $0 fees on credit card withdrawals and deposits.
Although BDSwiss has many positives, the trading platform won’t be the right choice for everyone. In this section of our BDSwiss review, you’ll find the drawbacks of this online broker.
- Only 12 cryptocurrencies are available, which might be limiting to more experienced crypto investors.
- Customer support is available 24/5, so you may find it difficult to access help during the weekends.
- The Financial Conduct Authority doesn’t regulate BDSwiss in the UK.
- There’s a $10 fee on withdrawals of under $100 (unless you use a credit card).
- If you don’t use your account for 90 days, a 10% monthly fee will be deducted from your trading balance.
Overall, we were very impressed at how straightforward the BDSwiss website and mobile app are. The website is easily navigable and simple for beginners to understand. We particularly liked that it contains a list of important definitions, where you can look up terms such as margin, spread, withdrawal fee, leverage, pip, and more.
Although the main BDSwiss website defaults to English, it’s available in 23 languages if you wish to change this. The trading platform also promises great usability, especially as it doesn’t require downloading and is compatible with all main internet browsers. The interface is clean and user-friendly with a range of charting and analysis displays, making it easy to use BDSwiss for desktop.
BDSwiss Trade Experience
So, how does BDSwiss work? As we mentioned earlier in this BDSwiss review, traders have the option of three different trading platforms:
- In-house BDSwiss WebTrader
- MetaTrader 4
- MetaTrader 5
The MetaTrader platforms might be some of the biggest names in the business, but if you’re hoping to trade cryptocurrency, you’ll need to use the BDSwiss WebTrader. This is because MT4 and 5 are only available for forex trading.
The company’s native platform provides a competitive trade experience that’s suitable for beginners and experts alike. It covers the five asset classes listed on the BDSwiss website, with handy features such as in-built trend analysis, projected future price trends, and ultra-fast order execution.
If you want a helping hand — or simply can’t afford to spend all day monitoring your trading positions — the WebTrader also enables you to automate aspects of your trading strategy. For example, by setting your desired entry price, you can ask to open positions automatically once your chosen conditions are met.
To navigate the WebTrader, you simply need to click on your chosen asset (crypto) using the sidebar. From there, you can click on the cryptocurrency pairs you wish to trade and start opening positions straight away.
Alternatively, you can view data such as historical prices to find the best trading opportunities for you.
BDSwiss Crypto Trading
Earlier in our BDSwiss review, we mentioned that this platform only offers CFD trading on twelve cryptocurrencies. These are:
- Ripple XRP
- OMG Network
It’s possible to trade these cryptocurrencies in USD, JPY, and EUR. Though it covers most major assets, the crypto trading opportunities are limited on BDSwiss. At Cryptoholics, we feel this means the platform is best suited to beginners — very experienced crypto traders may feel constrained by the lack of options.
This is particularly true as BDSwiss only offers CFD trading across its range of cryptocurrencies. Because CFD trading makes it easy to diversify your portfolio, traders can invest in several different assets, so having more options can be advantageous.
That said, the process of crypto trading using a BDSwiss brokerage account is smooth and intuitive. This is thanks to its simple WebTrader platform and handy mobile app, making it possible to cash in on price changes on the move.
BDSwiss App for Mobile
The mobile app is compatible with both the in-house trading platform, BDSwiss WebTrader, and MT4 and 5.
After completing our thorough BDSwiss app review, we discovered a range of handy features, making it easy for you to trade on the go with this platform. These include:
- Interactive charts
- Quotes available in real-time
- Trading and transaction history
- Deposit and withdrawal capabilities
- BDSwiss free stock UK trading updates
Promising a seamless 24/7 trading experience, the BDSwiss mobile app has received industry awards and an average rating of 4.5 out of 5 on the App Store.
BDSwiss Deposits and Withdrawals
BDSwiss works with most major payment providers, giving you a wide range of options when it comes to depositing and withdrawing funds.
BDSwiss accepts VISA, MasterCard, and wire transfer payments for the following currencies:
It also accepts:
However, these are only available for a select number of currencies, so make sure to check what’s available for your preferred currency before signing up for an account.
Whichever payment method you choose, the good news is that all deposit options have an immediate processing time, according to the BDSwiss website. Withdrawals will be processed in around 24 hours.
One of the best things about BDSwiss is that it doesn’t charge any fees on deposits or withdrawals made by credit card. If you’re using other payment methods, you should bear in mind that you’ll need to pay a fixed fee of €10 on withdrawals up to €20. You will also need to pay €10 on bank transfer payments under €100.
It doesn’t charge conversion fees if you want to withdraw money in a currency that’s different from your deposit currency. However, it does charge the following:
- An overnight fee for positions you hold overnight
- A 10% monthly inactivity fee if you don’t use your account for 90 days
- Variable fees depending on your trading spread
If you’re wondering how to use BDSwiss, the first step is to sign up for an online account. BDSwiss offers four different accounts, each with different minimum deposits, commission rates, and spreads. The right one for you will depend on factors such as your budget, appetite for risk, and experience level.
Once you’ve decided which account type you want to open, you can sign up via the BDSwiss website. You’ll need to enter some personal details such as your name, country of residence, phone number, date of birth, email, and password. You will also need to confirm that you’re over 18 and have read the BDSwiss legal documents.
After you’ve signed up, you’ll have to verify your account. This involves providing proof of identity, proof of residence, and completing an online questionnaire. You can quickly upload pictures of these within the company’s mobile app, though the BDSwiss verification time may depend on your location and the type of documents you submit.
To start trading BDSwiss stock or cryptocurrencies, all you need to do is satisfy the minimum deposit requirements of your chosen account (which range from just $100 to $5,000).
Then, you’re ready to go — whether you want to learn how to buy Bitcoin on BDSwiss or start trading another crypto asset.
BDSwiss Educational Resources
Another key benefit is the wealth of educational resources via the online Trading Academy. As well as its demo trading account, the company offers an extensive library of research materials, ideal for people who are figuring out how BDSwiss works.
These resources include:
- Educational videos
- Learning centre
- Live webinars
BDSwiss Customer Service
You’ll enjoy 24/5 customer support. Unfortunately, this means you won’t access instant support during the weekends — a major drawback if you have an emergency outside working hours.
On the plus side, the customer support during the week is impressive. According to the official website, the average support response time is just 50 seconds.
There is a designated email address for complaints (firstname.lastname@example.org). You can also access the online help and support centre, which includes a chatbot. Or, you can contact the team through a form on its website or use seven different phone numbers depending on your country of residence.
Because the platform uses local phone numbers, these lines are completely free for clients to use.
BDSwiss Reviews and Reputation
BDSwiss has built a positive reputation over the last nine years. On Trustpilot, the platform has a ‘great’ average rating of 4.0. Almost 70% of its reviews are ‘excellent’ or ‘great.’
If you’re planning to review BDSwiss for yourself, one of the first things you should look for is the security features. When writing our BDswiss pro review, we were happy to see that the online broker’s website is fully encrypted. It also recently gained two International Organisation for Standardisation (ISO) certifications for informational security management and quality management.
Based on our BDSwiss exchange review, we think this platform is a strong contender for anyone new to the world of cryptocurrency trading. While experienced traders may prefer to find a platform that offers more crypto assets, beginners will benefit from the wealth of educational resources and flexible account types.
Is BDSwiss safe or a scam?
BDSwiss is completely safe, and a fully regulated platform that has won industry awards and ISO certifications. As long as it’s available in your country of residence, the broker should be completely safe to use.
What can I trade on BDSwiss?
You can trade five asset classes: cryptocurrencies, fiat currencies, stock, commodities, and indices.
Can you make money with BDSwiss?
Your ability to make money as a trader will depend on factors such as your experience, risk management, and chosen assets. The majority of traders lose money, but it could be possible with the right strategy.
How secure is BDSwiss?
It is fully encrypted and has been awarded an ISO to recognise its commitment to information security.
Is BDSwiss regulated?
Yes, it is regulated by over four regulatory bodies.
How do I withdraw money from BDSwiss?
You can withdraw money using a range of payment options, including wire transfer, PayPal, VISA, Mastercard, and various online wallets.
Where is BDSwiss based?
It is headquartered in Zurich, Switzerland.
How does BDSwiss make money?
It makes money through commissions and spread fees.
How can I deposit into a BDSwiss account?
You can make deposits via credit card, bank transfer, PayPal, or various online wallets.
What is the minimum lot size at BDSwiss?
The minimum lot size at BDSwiss is 0.1.
When does a margin call take place at BDSwiss?
The margin call takes place at 100%.
What is the maximum leverage offered by BDSwiss?
The maximum leverage for cryptocurrencies is 2.1.
How do I open an account with BDSwiss?
To open an account, you’ll need to sign up via the BDSwiss website. You’ll be required to confirm personal details such as your age, name, and country of residence.
What trading platforms does BDSwiss offer?
It offers a proprietary trading platform, WebTrader, as well as MetaTrader 4 and 5.
Is BDSwiss an ISA?
No, it’s not an individual savings account (ISA).
Do I pay tax on BDSwiss?
You may need to pay tax on the money you make through BDSwiss.
Is BDSwiss legal in the USA?
Yes, it is regulated by the US National Futures Association (NFA).
Is BDSwiss legal in the UK?
Yes. It’s legal to use BDSwiss in the UK, but it isn’t regulated by the UK’s Financial Conduct Authority (FCA).
How much is the BDSwiss minimum deposit?
The minimum deposit is $100 for its Classic Account.
What are the BDSwiss market hours?
The BDSwiss market hours are 0:01-0.00. This is because the forex and cryptocurrency markets are open 24/7.