BDSwiss is definitely not a stranger to anyone who’ve sampled the binary options craze of the last few years. As the binary options market dried up, many brokerages chose the path of regulation and Forex/CFDs. BDSwiss is one of these operators. Many traditional forex brokers have recently created subsidiaries that are their entries into the thriving world of binary options, after waiting a few years to see if the trend was real. Banc de Swiss or BDSwiss.com, as its website address proclaims, however, is one binary broker that chose to use this strategy in reverse.
The firm expanded its product offering to include now traditional forex trading, together with a host of CFDS, as well. It now sports the best of both worlds separately but under one roof. The original binary offering is segregated from the new FX/CFD trading module & now is somewhat in the second place but all can be had through one simple user account.
Although the name “BDSwiss” stands for “Banc de Swiss”, in fact, it has nothing to do with either bank or Switzerland. Established back in 2012, the BDSwiss PLC is both registered and physically based in Limassol Cyprus and is nothing more than a Binary Options and Forex Brokerage.
In 2013, BDSwiss obtained a license from Cyprus’s financial regulator, CySec. This license (#199/13) means that BDSwiss operates in the countries of the EEA under the MiFID directive. The company is also regulated & authorized elsewhere in the EU by the FSC and even has its headquarters in Germany, however still has an ample list of countries & regions it could not operate in, as well as receive the traders-residents. For instance, the company is registered with the US National Futures Association, under number 0486419, but this does not – in any shape or form – mean that the site accepts US traders.
Despite the confusing name/origin combination, not 100% clear legal global status and many controversial reviews from its Binary Options division operations in the past, BDSwiss has already built a global fan base of over 500,000 and received an award for being the “Most Reliable Broker’ among its peers in 2015.
Special emphasis is given to live communication with the customers. You can contact BDSwiss Support team via an online chat on their website, by phone or email. Whatever the case, problems are typically resolved within the shortest possible time.
Since its inception, BDSwiss.com did its best to create a fast, reliable, and multi-functional platform for trading binary options.
The broker’s website incorporates many format features, which make it stand out as innovative and trying to appeal to a broader clientele by meeting the most modern standards and offering quality services for traders of all levels.
With all that said, It hard to resist calling it a modern broker deserving attention of serious traders.
Why would you possibly want to make BDSwiss your top trading destination though? The brokerage offers a good selection of trading products, which covers the newfangled crypto markets too. Its trading conditions (defined by its spreads and commissions) are also very attractive.
The site currently plays host to some 700,000 traders.
According to the BDSwiss website, two account types are currently supported: BDSwiss Basic and BDSwiss Black.
Of these, the Basic version is obviously the more accessible. The minimum required deposit for this one is just USD/EUR/GBP 200. The trading conditions are indeed quite attractive on this account. The maximum available leverage is 1:400, and the average spread on the most popular currency pair (which is the EUR/USD) is 1.3 pips – leaving ample room for improvement there.
The minimum lot size is 0.01 and high leverage is touted as the main advantage/selling point of this account. If you ask us, the reasonably sized minimum deposit requirement is quite a bit more attractive.
BDSwiss Black is a special account for higher volume traders. The website does not provide information on the minimum deposit requirement featured by this account. Traders are asked to contact support to strike a personalized deal in this regard.
The maximum available leverage is 1:400 on this account as well, but the trading conditions are quite a bit better than on the Basic account. The average spread on the EUR/USD is 1 pip, and there are commissions charged.
In the trading platform department, BDSwiss are indeed right up there with the best of the best. They offer no fewer than three MT4 versions, one for Windows, one for Mac and a Web-based variant. In addition to that, proprietary mobile platforms are available for iOS and Android-based devices.
The virtues of MT4 need little introduction for those versed in the ways of online trading. The platform is the home of the best charting package, and its technical analysis tools are peerless as well. Scores of indicators come preinstalled with the platform, and others can be added or even created by individual users. EAs represent perhaps the most popular feature of the MT4 suite. Through these automated traders, one can effectively eliminate the toil from the trading equation. EAs need a proper VPS service too, so make sure you can get that setup, otherwise, you won’t be able to exploit them to their potential.
Deposit-wise, BDSwiss accept a variety of Credit and Debit cards. In addition to that, they also support bank transfers, as well as a selection of eWallets, such as Neteller, Skrill, Sofort and GiroPay.
According to the BDSwiss website, more than 250 tradable assets are currently supported, which is not particularly impressive. The asset selection covers cryptocurrencies, shares, and Forex. One thing to remember in this regard is that these are all CFD-based products, meaning that you will never get to actually own Bitcoin for instance, while trading.
The BDSwiss support staff can be contacted through live chat, an email form as well as through a wide selection of country-specific phone numbers, all of which are available at the Contact page of the official BDSwiss website. Three email addresses are available as well. Of these, [email protected] is obviously the handiest.
While BDSwiss looks like a safe and secure trading destination at a first glance, it has to be brought to attention that there are a number of negative reviews and rather abysmal feedback available on it out there. There are even users who won’t refrain from calling it a scam.
BDSwiss’ platform selection is certainly impressive and its trading conditions are decent, as is the asset-coverage. Its reputation is a major thorn in the side of this reviewer though. Some of the negative feedback may have originated in its binary option days, but still, there are a few complaints from the Forex/CFD era as well.