BDSwiss Forex broker review: advantages and disadvantages

The minimum deposit requirement for the BDSwiss platform is just $10, making it accessible to a wide range of traders. Reviewers have heaped praise upon the platform for its responsive and knowledgeable customer support team, which has been a significant factor in their positive experiences. Furthermore, BDSwiss earns commendation for allowing clients to manage their funds, including transfers and withdrawals, even while they maintain active trades. The positive aspects continue with reports of excellent execution speed, devoid of any price requote issues, and swift processes for both deposits and withdrawals.

The BDSwiss Mobile app offers an excellent selection of popular cryptocurrency CFD pairings for a smooth 24/7 trading experience, with an increasing proportion of traders electing to trade on weekends. BDSwiss presently provides over 20 crypto pairings CFDs, allowing you to trade market-leading cryptocurrencies including Bitcoin, Ethereum and others. The BDSwiss’ MT5 trading platform is very similar to MT4 but offers more features to further enhance your trading possibilites. BDSwiss offers different account types to match the suitability of all types of traders. Although, the high minimum deposit for VIP & Raw accounts is a con.

He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. This week, Solana bulls have fiercely defended the $90 support level amid intense volatility in the cryptocurrency markets. Even the mobile app has issues with money withdrawing – otherwise it’s perfectly comfortable.

There are zero fees on deposits with credit card or electronic wallets. BDSwiss have a limited choice of 250+ instruments in multiple asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. Whilst there are probably enough instruments for the average retail trader, those of you who want a larger selection could consider Freedom24 instead. The BDSwiss Trading Academy has a wealth of educational resources to help you increase your trading knowledge.

  1. Here is the full lowdown when it comes to making a BDSwiss withdrawal.
  2. For lower volume traders and beginners, their cost can be slightly higher compared to a few regulated brokers in South Africa.
  3. They give you state of the art trading platforms and have an excellent customer support team on hand to help as and when needed.
  4. The approach is the same as with MT4, but given that the newer version also supports more exquisite and generally more effective tools, they were able to implement advanced mechanisms.
  5. Additionally, there have been complaints about BDSwiss allegedly withholding client funds after successful trades, which has raised concerns.
  6. This invariably affirms the stance that Solana is currently experiencing a significant boost in network usage.

In fact, their reliability is dampened a bit by the fact that withdrawing money from them takes longer than it would on many other brokers. It’s generally pretty risky to trade with BDS – the spreads can be 5 pips and higher, it’s not a very good number. Yes, on a few different tiers of trading accounts, BDSWISS provides Islamic swap-free trading. The BDSwiss multilingual customer support is available 24/5 via e-mail, webform, phone, WhatsApp, Telegram, or live chat.

Client Support

There are more than 24 languages available, and overall it’s an easy-to-use, clean platform that you can access quickly and efficiently on any device. However, as we always recommend check on the regulation carefully and never sign in with only offshore registered brokers (read more why avoid trading with offshore brokers). Steven Hatzakis is the Global Director of Research for Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Beyond having a strong physical presence in many of the major markets, the broker is also very well regulated by a number of top-tier regulatory bodies. The WebTrader is fully synchronized with the other platforms featured by the broker, such as MT4 and the mobile apps. In this regard, it has to be noted that BDSwiss does not in fact charge any fees on withdrawals, as long as they are above a set minimum amount. BDSwiss maintains a comprehensive Help Center page to facilitate self-help and information gathering.

Risk Management

MT5 is the successor to MT4 and a more advanced version of the popular trading platform. Whilst I think that the overall interface and feel of the platform is very similar, there are a few extra features including more advanced trading tools and indicators to assist with your market analysis and trading. Most of the tools you will need for conducting thorough market analysis and trading are in place.

BDSwiss WebTrader

Autochartist is available to all traders and represents a valuable research tool. The BDSwiss WebTrader is worth exploring if you’re looking for a MetaTrader alternative. The WebTrader does not require downloading and it is fully synchronised to the downloadable versions of the MT4.

The customer support is available via
Email, Web form, Phone and Live chat. The BDSwiss individual account is a popular choice for many traders with the broker. Here you will find an accessible account type with a low minimum deposit starting from just $100 with a demo account available to try out first. You will also have access to the full educational infrastructure through this account as well as a basic service from Autochartist provided. The trading costs on the individual account type start from a spread of 1.5 pips on major forex markets. The BDSwiss WebTrader Platform was created entirely in-house to better meet the demands of the brokers ever expanding client base.

Contacts of BDSwiss

We do not present any investment advice or guarantees for the accuracy and reliability of the information. You should login to your Client Portal and submit a withdrawal request by following of the required procedure. Read our full explanation and accounting of our research and testing process to learn more about how we test. In May of 2021, the FCA cited BDSwiss for prohibited marketing practices originating from certain of its affiliates and social media influencers, and required that the broker halt doing business in the U.K. Residents until a number of outstanding items are rectified by the broker, as per the FCA announcement.

It’s more than enough to keep you informed and let you figure many things out on your own. There are ‘advanced’ videos, but they are still dedicated to improving one’s knowledge about trading, and that can still be regarded a way to compensate for the lack of experience and expertise. For regular, there’s even a glossary – a dictionary of trading terms.

Ultimate Guide: What Is Private Banking and How It Works?

A BDSwiss inactivity fee is charged if you are inactive for 90 days or more. Withdrawals can be made through wire transfer, credit/debit cards that are Visa or MasterCard, eWallets that are Skrill or Neteller, and through your internet banking. These include EUR, USD, GBP, PLN, CHF, SEK, DKK, and NOK with additional local currencies possibly available through online banking, though these may not all be available with each method.

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