BDSwiss Broker Review

4.5/ 5

EUR, USD, GBP, ZAR

1.30 pips

USD 13

0.00 pips

0.60 pips

0.30 pips

USD 0

5/ 5

GBP, EUR, USD, HUF

0.70 pips

USD 7

0.70 pips

2.20 pips

1.40 pips

USD 0

4.5/ 5

AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD

1.00 pips

USD 10

0.17 pips

0.59 pips

0.26 pips

USD 0

Opening an Account at BDSwiss

The account opening process at BDSwiss is fully digital, fast, and hassle-free compared to other brokers.

Traders are eligible to open an account at BDSwiss, as long as they meet the minimum deposit requirements of each account.

Creating an account is straightforward, the process is fully digital, and accounts are usually ready within one day. BDSwiss notes the online application process takes less than 49 seconds to complete. BDSwiss offers joint and individual accounts, but we will focus on opening an individual account:

How to open an account at BDSwiss:

New traders will have to click on the “Sign Up” button at the top of the page where they will be directed to register an account.
BDSwiss’ intake form requires clients to fill in their personal details (including name, country of residence, email address, birth date, and level of education).
BDSwiss needs at least two documents to accept you as an individual client:
1. Proof of Identification – BDSwiss accepts all government-issued identification documents such as Passport, national ID card, driving license, or other government-issued ID. The document must be valid and must contain a trader’s full name, date of birth, a clear photograph, issue date, and if it has to have an expiry date, that should be visible as well. A passport is the preferred proof of identity, as it is the document that will be the quickest for the BDSwiss Back Office team to process. If the document has two sides, then scans of the front and back sides must be uploaded.
2. Proof of Address – Proof of residence/address document must be issued in the name of the BDSwiss account holder within the last 3 months and must contain a trader’s full name, current residential address, issue date, and issuing authority. BDSwiss accepts any bills that are issued by a financial institution, a utility company, a government agency, or a judicial authority.
Once this step is complete, traders are asked to complete two questionnaires that will help BDSwiss assess the state of their finances and trading knowledge. While most brokers don’t include this step in the account-opening process, it is a responsible move in an industry that is often accused of an irresponsible approach to consumer protection.
After the application is approved, traders can login and fund their accounts
We advise you to read BDSwiss’ risk disclosure, customer agreement, and terms of business before you start trading.

Overall, BDSwiss account-opening process is quick, efficient, and accounts are generally ready for trading within one business day.

Deposit & Withdrawal fees

BDSwiss charges no deposit fees but charges high withdrawal fees for certain payment methods. It also offers a wide range of funding methods.

In line with Anti-Money Laundering policies, deposits and withdrawals at BDSwiss cannot be made to/from third-party accounts. BDSwiss does not charge for making deposits to a live trading account, and it charges fees for withdrawals under certain conditions. See below for a list of BDSwiss payment methods:

Bank Wire Transfer: Deposits are free, but BDSwiss charges a fixed fee of 10 EUR (or equivalent) for bank wire withdrawals below 100 EUR (or equivalent). Deposits and withdrawals are processed within one day, but may take four to seven days to reach the account.
Credit Cards/Debit Cards: Payments are via Visa and Mastercard. Deposits are instant and free – BDSwiss covers all receiving costs. Withdrawals are processed within 24 hours and are free.
eWallets (Skrill, Neteller, Astropay): Deposits are instant and free. Withdrawals are processed within 24 hours and are free too.
Bitcoin: Deposits are instant and free. Withdrawals are processed within 24 hours and are free.

For international bank transfers, the minimum withdrawal amount is 50 EUR (or equivalent) after the deduction of fees. For amounts that remain below the required 50 EUR, an alternative withdrawal method must be used. For all other withdrawals amounting to 20 EUR or less, BDSwiss reserves the right to charge a fixed withdrawal fee of 10 EUR (or equivalent).

Overall, BDSwiss provides a range of payment methods, and although deposits are free, BDSwiss charges high withdrawal fees for low withdrawal amounts, which is not common in the industry.

BDSwiss Base Currencies (Trading Account Currencies)

BDSwiss offers only USD, GBP, and EUR accounts, fewer than most other brokers.

At BDSwiss, traders can only choose from three base currencies: USD, GBP, and EUR. This is limited compared to most other international brokers, and is disappointing for traders who may have bank accounts denominated in other currencies and will have to pay conversion fees on all deposits and withdrawals. Conversion fees can make trading expensive, and are usually not presented on the fee report, but affect profitability.

However, it should be noted that for traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with another currency, there will be a small conversion fee for every trade made.

Overall, BDSwiss offers fewer trading account currencies than most other large international brokers.

BDSwiss’ Trading Platforms

With MT4, MT5, and BDSwiss’ own proprietary platforms available, BDSwiss offers support for more trading platforms than most brokers.

BDSwiss trading platform arsenal includes both MT4 and MT5 and its own BDSwiss Webtrader platform, which provides beginner traders an excellent trading experience.

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Broker

Platform Choice

Copy Trading

4.5/ 5

4/ 5

5/ 5

The advantage of brokers offering third-party platforms such as MT4 and MT5 is that traders can take their own customised versions with them should they decide to migrate to another broker. Additionally, there are thousands of plugins and tools available for the MetaTrader platforms. However, these platforms are not as beginner-friendly as the proprietary platform offered by BDSwiss. See below for more details.

Metatrader 4

Having established itself as the industry-leading platform, Metatrader 4 (MT4) is the most reliable and popular platform in existence. Its intuitive interface and user-friendly environment provide essential tools and resources for successful online trading. It is also widely recognised for its fast execution speeds, range of charting tools, algorithmic trading, and customisability. MT4 is available in over 31 languages. Features of the MT4 include:

A built-in library of more than 50 indicators and tools to streamline the analysis process
An impressive array of analytical tools, available in nine timeframes for each financial instrument.
Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor.
Customisable alerts
Access to MetaTrader market and MQL4 community.

Metatrader 5

The MT5 trading platform is being adopted by more Forex brokers all the time. It has a more modern interface, allows for an unlimited number of charts to be used, shows Depth of Market, and has a built-in Economic Calendar. It also has a larger number of pending order types than MT4 and features an embedded chat system. The MQL5 scripting language is more efficient than its precursor, and MT5 has more advanced charting tools than MT4. Additional features of BDSwiss’ MT5 include:

Over 80 Technical Indicators and over 40 Analytical Objects
Ability to display 100 charts simultaneously
Depth of market display and technical indicators
6 pending stop order types, including Buy Stop Limit and Sell Stop Limit
Improved strategy tester for algorithmic trading and expert advisors (EAs)

MT4 and MT5 are available on PC and MAC, in addition to Android and iOS.

BDSwiss WebTrader

The BDSwiss WebTrader does not require downloading, is available on both MAC and PC, and is fully synchronised with the downloadable versions of MT4, allowing for live price monitoring via an advanced market watch. Translated in more than 24 languages, the BDSwiss WebTrader is designed to accommodate traders’ needs from around the globe.

The BDSwiss WebTrader is a user-friendly platform that delivers an array of tools, including unique indicators, and an intuitive order window that automatically calculates position size, leverage, and required margin. However, the platform lacks many of the features available on MT4 and MT5 such as automated trading and does not cater for third-party tools.

BDSwiss Webtrader

Overall, BDSwiss offers a wider range of platforms than is available at other brokers. With support for third-party platforms such as MT4 and MT5, in addition to its own proprietary platform, this choice will keep most traders satisfied.

BDSwiss Mobile Trading Apps

BDSwiss’ mobile trading platforms are good when compared to other brokers. BDSwiss offers mobile versions of MT4 and MT5 in addition to its proprietary mobile trading app.

BDSwiss’ MT4/MT5 Mobile Trading App

BDSwiss offers support for MT4 and MT5 mobile trading apps for Android and iOS. Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.

BDSwiss’ Proprietary Mobile App

The award-winning mobile application from BDSwiss is more user-friendly than the standard MT4 mobile application. Featuring an intuitive and user-friendly trading interface, it is designed to be compatible and sync with the desktop MT4 application.

The mobile app offers basic trading, research, and account management functionality. Traders can open/close/edit positions, add stops to open positions and delete working orders. Research and analysis are available on real-time charts, and automated alerts are used to identify trading opportunities.

Overall, BDSwiss’ mobile trading experience exceeds that offered by other brokers.

BDSwiss Mobile App

Trading Tools

BDSwiss offers an average range of trading tools compared to other similar brokers.

BDSwiss’ trading tools include Autochartist and BDSwiss’ in-house Trend Analysis tool that integrates with the web trader platform. These tools are offered free of charge to all BDSwiss registered clients.

Autochartist

Autochartist is an automated analysis tool offered for free to all BDSwiss registered users. Autochartist monitors 250+ CFDs 24 hours a day and automatically alerts traders on key trading opportunities and forming trends with the highest probability of hitting the forecast price. Some of Autochartist’s key features are:

Chart pattern recognition
Fibonacci pattern recognition
Key level analysis
Pattern quality indication

Autochartist is one of the best technical analysis tools on the market, and BDSwiss does well to offer this tool to its clients.

Trend Analysis

The Trend Analysis tools are exclusively available on BDSwiss’ web trader platform.

Developed in partnership with AutoChartist exclusively for BDSwiss traders, Trend Analysis is a unique tool that enables traders to spot some of the biggest trading opportunities directly on BDSwiss’ WebTrader. Traders can view emerging and recently completed trends for hundreds of assets, in addition to pattern overlays and projected price trends applied live on a chart.

Overall, BDSwiss trading tools are slightly limited compared to what is offered by other large international brokers, but the tools it does offer are some of the best in the industry.

The mobile app offers full trading, research, and account management functionality. Traders can open/close/edit positions, add stops to open positions and delete working orders. Research and analysis are available on real-time charts, and automated alerts are used to identify trading opportunities.

BDSwiss for Beginners

BDSwiss offers excellent educational material for beginner and intermediate-experience traders, including structured training courses, daily webinars, and frequent live seminars.

Market analysis is also excellent and detailed, with market news and insightful daily analysis offered by the BDSwiss team.

Educational Material

Education is where BDSwiss has clearly invested time and effort, and they have created an outstanding selection of materials for beginners.

BDSwiss offers a comprehensive Trading Academy for those looking for structured courses. The Trading Academy is split into beginner, intermediate and advanced sections, though in truth, the advanced section is more suited to those with intermediate knowledge. Perhaps the better and more advanced educational material from BDSwiss comes in the form of weekly strategy webinars and frequent live seminars held at BDSwiss’ local offices around the world.

The Educational videos consist of five to six lessons with a quiz to summarize the content. It provides a great introduction to trading. Topics include CFD Trading, The Basics of Forex Trading, and Order Types, among others.

BDSwiss also provides a Forex Glossary in addition to a number of ebooks that are well-written and in-depth.

Webinars are free to non-clients and only require signup to participate. BDSwiss also offers Trading Talks is a 10-course recurring educational webinar that is held every two weeks. Once completed, webinars are added to the video library and combined with other educational videos about aspects of trading and market analysis.

Overall, the education provided by BDSwiss far surpasses that of most other international brokers.

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Broker

Beginner Course

Advanced Course

Analysis Material

BDSwiss provides an award-winning market research section that is curated by some of the best analysts in the world.

Research and analysis materials at BDSwiss are detailed and well-structured. Financial commentary is split into five sections: Market Preview, Technical Analysis, Daily Videos, Weekly Outlook, an Economic Calendar, and Special Reports. Webinars are also conducted on an almost daily basis in a range of languages.

BDSwiss’ market analysis is curated by a team of renowned markets analysts and professional traders that provide 24/5 market news coverage and actionable financial commentary. Recognised by the global industry community, its Research Team is frequently featured in world-leading publications and is viewed as a reliable, one-stop information hub of insightful market analyses.

BDSwiss’ Telegram channel, which consists of a Free basic version accessible by anyone, and the VIP version which is exclusive to premium account holders (VIP and Raw Account), provides real-time Trading Alerts, volatility alerts, and upcoming live-trading webinars.

All analytical material, including webinars and forecasting reports, is available free of charge, and most of the video content is uploaded to YouTube. The analysis quality is world-class and will be of value to both technical and fundamental traders.

Lastly, the Daily Videos give traders insight into how to approach researching marketing opportunities and trader psychology. We particularly recommend the Daily Market Preview, conducted by BDSwiss’ Market Analyst, Frank Walbaum.

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Broker

Autochartist

Trading Central

Trading View