BDSwiss

What Is This BDSwiss Review About?

The BDSwiss review shows us that the international broker company established in 2012, got quite the negative press, especially in the BDSwiss review Reddit sources, since users found it sketchy and not legit. But let’s try and find out more in our own BDSwiss broker review today.

Initially, BDSwiss was a part of the Markets trading group and had a client base of up to 1.5 million registered clients in more than 186 countries. The company was based in Switzerland and provided online trading services as part of the operating group and offices in Albania, Malaysia, and Kosovo.

The BDSwiss reviews show that the company when launched stormed the online trading scene due to its mix of products and up to 1.5 million registered accounts. The company had up to $84 billion in trading volume and offered multiple educational resources as well as market research.

Nowadays, however, the internet space is filled with negative reviews about this broker due to its lack of customer support and unclear regulatory status.

BDSwiss Features

With the extremely narrow spreads and institutional grade liquidity, BDSwiss offered its clients decent conditions. the paltform also offers insittutional grade liqudiity.

BDSwiss provided traders with a large trading ecosystem that extended its liquidity strategy and the traders were invited to the low spreads, fast execution, and deep liquidity from other providers for multiple assets that can be found on the platform.

Live Market Feature: this feature helps traders remain informed and the company is devoted to providing live market analysis, webinars, real-time trading sessions, and also daily trading alerts.

Analytics tools: BDSwiss clients gained access to many resources like the analysis tools such as Autochartist, trading alerts, and webinars. In addition, the educational materials offer video courses and tutorials that range from beginner topics to more advanced subjects in the crypto ecosystem.

The educational resources offer more tools that are helpful to both professional traders and other institutional clients.

Compliance & Regulation

BDSwiss had a robust complaint process that was used across its services for more than 186 countries. The evidence shows that the compliance process started at the registration phase and was intertwined with the verification process that included proof of identity and address documentation.

BDSwiss complied with strict anti-money laundering rules and became a member of the Financial Commission that offers compensation via the Investor Compensation Fund.

Also, the BDSwiss broker review shows that the broker is regulated by the Mauritius Financial Services Commission and also is registered with the United States National Futures Association but US clients still are unable to join. One of the main complaints for the brokerage was exactly that, the US users cannot join and trade.

The client funds were kept separate from the operational funds which also added another layer of security for traders.

BDSwiss Pricing Plans

BDSwiss has a really straightforward approach to the offerings on the platform. The clients interested in opening a new RAW account, have to deposit $5000.

For a VIP account, the starting deposit is set at $100 while the spreads start as low as 1.5 pips.

There’s also the Classic account type that has commissions for trading in indices and shares with $2 per lot but the fees are still very much affordable. The VIP account type has lower spreads with $0 commission on the indices.

The Raw accounts offer direct liquidity with the spreads starting at 0.0 pips but there’s also a $5 commission per round lot on all pairs. There’s one thing to notice though. The Islamic accounts are only compatible with the VIP accounts and they cannot roll over and swap.

The deposits on the accounts have no charges and the withdrawals are performed quite fast although many users in the BDSwiss reviews beg to differ. There are no fees for withdrawals on credit cards but there are some fees for withdrawal methods like bank wire transfers. For inactive accounts of up to 90 days, there’s a fee ranging between 25EUR to 49ERU but they are assessed each month depending on the balance left.

BDSwiss Fees

Online experts and various BDswiss review analyses analyzed there were some hidden trading but also nontrading fees. For the trading fees, the broker incurs a spread in amounts of 0 to 0.1 for the investment accounts.

There are no fees for replenishing the accounts or for converting currencies. The broker will pay the fee for the withdrawal however, for inactivity, they charge up to 10% of the account balance. The broker charges fees for transferring open positions to the next day as well.

Withdrawal Options

To withdraw the funds to a personal account, one has to submit a withdrawal request to their personal account. To withdraw funds, the broker offers methods via Maestro bank cards, Mastercard, Visa, SOFORT, IDeal, DotPay, and Neteller.

Transactions via online banking and wire transfer are also available. The broker guarantees crediting of funds to the trading accounts or bank accounts and there’s also no commission for the replenishment of the accounts.

The company will cover all costs of withdrawing funds but there is an exception for withdrawing via bank transfers if the amount reaches less than 100 EUR.

To withdraw the funds, the trader has to verify the account and help confirm the identity.

What happened with the broker in the UK?

In 2021, the FCA punished BDSwiss for performing banned marketing practices that originated from social media influencers and required that they stop doing business in the UK while also stopping offering trading services to US residents.

The regulator imposed strict rules for the sale of CFDs to retail customers which reportedly BDSwiss broke. The company partnered with affiliates that marketed referrals to their retail traders and they broke overseas laws since FCA doesn’t provide protections. This means that all UK consumers were urged to open accounts where they are going to stay away from the FCA but they never received protection especially since BDSwiss was FCA-regulated.

According to the regulator, 99% of the users referred to Overseas companies which mean that clients didn’t benefit a lot from the protections. Furthermore, BDSwiss affiliates marketed the company in a way where they failed to mention that the instruments for trading were actually CFDs.

FAQ

Is BDSwiss UK Regulated?

BDSwiss offices are located in offshore locations like Mauritius and Seychelles and the company is therefore registered by the Mauritius Financial Services Commission. Also, this broker is not UK-regulated.

Can US customers access BDSwiss services?

BDSwiss doesn’t offer trading services for US customers but the group has a National Futures Association license which might change things in the near future.

What is the minimum withdrawal amount?

When it comes to bank wire withdrawals, BDSwiss doesn’t require a minimum withdrawal amount but those that are below 2EUR can’t be processed because of the lower required withdrawal amount.

This means that a 10 EUR fee will apply to the bank wire withdrawals under 100 EUR and for bank wire international payments, the minimum level is set at 50 EUR.