BDSwiss is an established broker that seems to offer features that traders of all types will wind interesting. What seems to be the goal of this broker is to improve trader experience by offering new and fresh tools and features.
With this BDSwiss broker review, we will attempt to guide you through all the most important characteristics of this binary options broker and hopefully help you in your quest for the broker that suits your needs. We will cover the account features as a starting point and continue with software info as well as customer support and banking details that traders should be aware of.
We will cover the account features as a starting point and continue with software info as well as customer support and banking details that traders should be aware of.
This broker is regulated by CySEC under the license number 199/13. This means that BDSwiss reports to higher legal institutions that regulate financial trading across the EU.
This is a very important factor in determining if a broker is a right fit for you.
Aside from having a CySEC license, BDSwiss has plenty of features that will certainly catch the attention of binary options and forex traders. These features are meant to enable users to get a better user experience while trading binary options.
BDSwiss has a market news section that comes in really handy for continuous education and updates concerning the online trading industry. The content is logically sorted and can be searched through. There are also tags that are applied to this section so the content can be searchable via tags that group them for fast orientation. This is something that will probably be very helpful in order to track the news more efficiently.
BDSwiss also features an integrated Economic Calendar. This is not very unusual seeing that many binary option and forex brokers to enable their traders to view Economic Calendar information. However, when we pair this with the market news section, it becomes evident that the combination of the two gives the traders the complete source of financial market information.
Opening the Account
Opening an account with BDSwiss is completely free. All that is required in order to register with BDSwiss is to fill in a very basic web form and complete the guided registration process. You will then decide on the financial instrument you would like to use. After your identity is confirmed you are going to be able to start using your account.
Before you can actually start trading binary options with BDSwiss, you are required to make a deposit of a minimum of $200.
Traders are given the choice of trading with Binary Options, Forex/CFDs or Cuboid Trading.
Forex Account Types
There is a total of three Account Types when it comes to Forex trading, each created with the needs of traders in mind:
BDSwiss Basic – There is no minimum deposit, the average spread of EUR/USD is 1.3 and leverage as high as 1:400.
BDSwiss Bonus – Minimum deposit of $500, the average spread of EUR/USD is 1.5 and leverage as high as 1:500.
BDSwiss Black – Minimum deposit of $10,000, the average spread of EUR/USD is 1 and leverage as high as 1:500.
What is Cuboid Trading?
According to the website, Cuboid Trading is a new financial instrument that is very much similar to binary options. However, with Cuboid trading, you are not predicting the rise or fall of an asset’s price but rather whether the price will remain in a certain area.
Effectively, this means that you will be creating an individual rectangle in a provided graph. That rectangle is where you predict that the future asset price will be staying in.
One of the most important characteristics of a binary broker is the trading platform. BDSwiss offers an advanced trading platform that is very streamlined and practical. The trading platform used by this broker is SpotOption which we will go over in more detail in the next sections of this review.
The interface itself is very elegantly designed with a modern color scheme and logically organized tools and features. While this doesn’t sound like an information that is essential for traders, it is important to know how interfaces that have a great design can have a substantial influence on your overall emotional state, because you are not wasting time trying to figure out what is happening on the screen.
Also, BDSwiss offers a vast selection of binary options and Forex contracts that traders can choose from. The choice of binary options can be between Pairs, Long Term Options, super fast 60 seconds (better known as Turbo), OneTouch – the high yielding options and Ladder – the high yield options trading system. Your portfolio can be customized in whichever way it suits your individual needs.
The platform is web-based so there’s no need to download anything to your computer.However, there are specially designed WebTrader apps available for iOS and Android use for all those traders that like to trade on the go.
When it comes to Forex/CFDs, the software used is a MetaTrader4. This is a highly recognizable platform and it is widely used by brokers. It is available as a web trader, designed also for Windows, Mac, iOS and Android.
During this BDSwiss broker review, we have come to find out that this broker has a very trained and educated staff that is able to provide guidance and help in resolving all kind of issues you might run into.
To contact BDSwiss customer support, traders can use a phone, fax, Live chat, e-mail, mail, and a web form available directly on the website. With a total of 16 national phone numbers, we can say that this broker is well prepared to help customers from all over the world.
With this broker, as indicated on the BDSwiss website, traders can choose between several methods of depositing and withdrawals. You can choose between credit cards, wire transfer, Maestro, PaySafe, Ukash, Sofortüberweisung, Skrill and many more.
If you choose to use credit cards and e-wallets then your payments will be processed immediately, while it might take a bit longer if you choose to use a wire transfer due to the nature of the transfer itself. When making a withdrawal request, traders will have to wait a bit for the request to be processed.
The minimum withdrawal amount is $10. As it says directly on the website, in most cases, withdrawals are processed free of charge, however, there are a few exceptions to the rule. If the trader has not traded their deposited amount at least once, or the customer has more than $100 in their trading account and would like to withdrawal less than $100. In these instances, there will be a withdrawal fee of 5% of the withdrawal amount – a minimum of $25.
BDSwiss is the trading name of BDSwiss Holding Plc. BDSwiss is authorized and regulated by the Cyprus Securities and Exchange Commission (licence number: 199/13). Registered address is Ioanni Stylianou 6, 2nd Floor, Flat/Office 202, 2003-Nicosia, Cyprus