BD Swiss Forex Broker Review
Last Updated: October, 2019.
Many traditional forex brokers have recently created subsidiaries that are their entries into the thriving world of forex trading, after waiting a few years to see if the trend was real. There is, however, one forex broker that chose to use this strategy in reverse, and that broker is BDSwiss.com, as its website address proclaims. 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 under one roof. Founded in 2012, BD Swiss has already built a global fan base of over 500,000 and recently received an award for being the “Most Reliable Broker’ among its peers in 2015. BD Swiss is the trade name of BDSwiss Holding Plc, Cyprus, an investment firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC – License number: 199/13). U.S. and Canada clients are not accepted at this time.
The broker’s new website incorporates many format features, which make it stand out as innovative and trying to appeal to a broader clientele, now that it has grown past its initial startup phase. No need to confuse clients with escalating benefits and limited features. Straightforward is much better, and it seems to work. Very few complaints, if any, exist on the web, a good sign that this broker is trying hard to get your patronage. Forex assets total over 230, which can be traded under six option formats: FX/CFD trading, BD Swiss relies upon the Metatrader4 platform series to satisfy its clients. Here you will find not only 83 currency pairs to trade, but another 48 CFDs in indices, commodities, and treasuries. Spreads can be as low as 1.2 pips, and leverage tops out at 400:1
Registration is quick and easy, under 3 minutes, and free to access the FX/CFD service offering. Peace of mind is assured by the regulatory oversight of CySEC for deposit safety, order execution reliability, and privacy concerns. The normal package of training and support materials can be accessed once you have registered, and bilingual support from attentive customer service representatives can assist you with any problems that you might have. The HQ of this firm is located in Limassol, Cyprus, but another postal office exists in Frankfurt, Germany. BD Swiss is actually registered in most of the countries in the EU to provide one more level of safety. Details related to offices and licensing are on the website.
Unique Features of Trading with BD Swiss
The distinguishing features listed by BD Swiss on its website are as follows:
- Founded in 2012 and headquartered in Limassol, Cyprus, with an additional presence in Frankfurt, Germany;
- Regulated by CySEC, and licensed to do business in all EU countries;
- Client deposits are segregated from operating capital in separate bank accounts;
- The Cypriot Investment Compensation Fund provides additional coverage of up to €20,000.00 per individual account;
- Firm offers traditional trading of Forex and CFDs under one corporate roof;
FX System Set Up:
- MetaTrader4 series of trading platforms;
- Forex pairs and CFD trading;
- Tight spreads as low as 1.2 pips (vary by asset type);
- Leverage for forex pairs up to 400:1 (vary by asset type);
- Over 130 assets: Forex pairs (83), Indices (23); Commodities (18); and Treasuries (7);
Extensive Education Center includes a variety of materials on several topics, both basic and advanced, including webinars, seminars, and training guides;
Customer support available via live chat, email, or phone.
One simple account for easy access and trading;
Demo account is free with no time limit;
No clients can be accepted from the U.S., Canada, Japan, Sudan, Syria, or North Korea; CySEC entity only accepts EU clients.
BD Swiss offers FX/CFD trading. It is web based, requiring no complicated software downloads. Sell-Early, Rollover, and Double-Up features are standard. Traditional trading uses MetaTrader4 software, which must be downloaded to your computing device. You will then be able to enjoy the features and familiarity that comes with MT4 products.
Deposits and Withdrawals
BD Swiss accepts major credit cards and bank wire transfers for deposits;
Alternative payment systems also accepted, like Skrill, Neteller, GiroPay, Soforth, iDeal, and EPS;
Withdrawal requests will be authorized and processed quickly, but only if KYC/AML documentation is current and on file.
Withdrawal distributions follow the deposit method, as required by law;
Withdrawals are free, but banking intermediaries may deduct their own fees.
Bilingual customer service representatives can be reached via live chat, email, and direct phone (16 national lines are listed on the website). Two office addresses are also presented on the website, in case you are in those two areas.
Client deposits are maintained in separate segregated accounts and not commingled with operating capital. In case of insolvency, the Cypriot Investment Compensation Fund also covers your account balance, up to €20,000. All trading activity data and personal account and payment information are encrypted, using the latest in SSL technology.
BD Swiss has taken its Forex and CFD trading offering, from one simple account offered by one single broker. CySEC regulation provides a level of protection that other jurisdictions cannot – execution order transparency, deposit security with insurance coverage, and privacy via the latest in encryption techniques. Spreads and leverage are competitive, and you will not find a broader array of asset choices from even the best brokers in the industry. 500,000+ customers in four years is quite an achievement, too, so this firm’s value proposition must be working. As its Home Page declares, “BD Swiss – The Complete Trading Package.”