BDSwiss Forex Broker Review:
BDSwiss is a financial company oriented on the provision of access to the trade of binary options, Forex, CFDs. The broker was established in 2012 by legal entity PLS BDSwiss. The central office is based in Cyprus but additionally, there is also a German address for receiving emails. The organization CySEC is considered to be the main regulator of the company and it is having a big authority in many countries.
Additionally, this forex broker is a member of NFA (American Financial Community) but doesn’t have a direct license of organization. The thing is that in the USA the trade of binary options is not recognized at the legislative level. This is why the broker is mostly oriented on European Slavic clients. Neither in Canada nor in the USA the broker doesn’t give any service.
Using a single account the client can trade binary options within one click and also open deals for CFD/Forex with a short time of expiration. To open an account you just need to go through registration and fill in your personal data. It is obligatorily to go through verification by giving scanned copies of a passport or driver’s license. The minimal deposit is 100$.
If you don’t want to deposit real money at first then you need to test opportunities on a demo account.
Common conditions of trade ( namely, for CFD and Forex) are:
• Leverage – to 1:400;
• Trade terminal – MT4 and Web-platform;
• Ways of deposit – Skrill, VISA and Master Card, Sofort, Postepay;
• Type of the website – multilingual;
• Size of spreads – up to 1 point;
• Minimal trade lot – 0.01.
As we mentioned above nowadays the BDSwiss broker allows trading not just binary options but also a traditional CFD, Forex, and cryptocurrency. The total number of instruments is 250 items. The company is dividing accounts by categories without putting different minimal deposits for different clients. There is only one account and its conditions are single too.
Training with the BDSwiss broker
If you are a new person in trading then it is not a problem. The BDSwiss company is providing with a wide block of training material. For example, you can subscribe for a free training course where the user is having access to the trade strategies, descriptions of methods of technical analysis, and instruction of work with trade terminal.
Despite, you can also have the help of the manager or personal trainer. In the training section, you can download helpful videos; go to the economic calendar, recordings of webinars, market forecasts from experts. Periodically the analytics of the company are holding webinars that anyone can watch.
The work of support service
Let’s estimate the work of the forex broker support service. The company suggests connecting with managers through Telegram, online chat on the website widget, WhatsApp, and also by contact number or e-mail. The average time of reply is not more than a few minutes, and the company is providing the most possible number of ways of connection.
Users can trade through computer device on well-known trade terminals as Metatrader 4 and Metatrader 5. And there was an extra application for iOS and Android developed by the broker for mobile trading. It has advanced functional features and you can open and close deals with one click. It is convenient as the scale of the chosen asset is shown on a display of a mobile device. It is allowed to use different instruments for analysis. Users don’t mention any gaps and they call this application convenient with the high speed.
The positioning of the BDSwiss broker
It’s worth it to correct that the BDSwiss company has nothing to do with the Swiss. Its corporate colors are made in Swiss flag style and the name Swiss is just a marketing ploy. As was mentioned before, the central office of the company is based on Cyprus in the offshore zone.
The company could get very high grades for its activity. But during the investigation the material it appeared that in the process of activity CySEC has sent penalties to a broker due to violations of certain conditions of cooperation. More than once. Also, the try of the broker-owners to pass as Swiss reliable company is still not clear.
But it is a big plus for trade conditions, loyal work of support service and unique mobile application for trading. It is also a plus that it has own online academy where you can study trading.
On the website, it is mentioned that the number of clients of the broker is more than 1 million. But there is no opportunity to check this number.