BDSwiss Review

BDSwis has over 1.6 million clients.The Company has over 1,000 Assets to trade on. Their spreads are some what higher then the average in this field.

Pros

• Several ways to trade including its BDSwiss Mobile and WebTrader apps, as well as MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

• For clients outside the EU there a zero pip spread available for the first year. We do not have the average pip spread cost for this Company.

• They make their own daily videos.

• Acts as an agency broker, demonstrating balanced slippage with no requotes.

• Offers Trends Analysis.

• they are able to supply signals and real-time alerts are available via the BDSwiss Telegram channel.

• RAW account has lower spreads and commissions, but there is a $5,000 minimum deposit..

• VIP clients gain other perks for their VIP clients.

Cons

• BDSwiss mobile app. is a basic one.

• Beginner’s educational area is some what lacking in follwing progress of their new traders.

• Spread of 1.6 pips on the EUR/USD for its Classic account is expensive.

• They do allow scalping.

• No longer allowed by the FCA to offer CFD's in the UK.

• BDSwiss will charge your account 10% of it's balance once you have not traded for 3 Months.

Is BDSwiss UK regulated?

BDSwiss’ services are temporarily on hold in the U.K., due to a restriction put in place by the regulator that prevents BDSwiss from accepting U.K. residents (at least for the time being).

That being said, BDSwiss holds multiple regulatory licenses throughout the EU, including from Cyprus where it is authorized by the Cyprus Securities and Exchange Commission (CySEC). It is also regulated as a Tied Agent under its German entity, and is passported across the EU (and outside of the EU into Switzerland). The brand also holds an offshore regulatory license from the island nation of Mauritius.

What is the minimum deposit for BDSwiss?

Depending on the account chosen can be between $100 to $5,000 and may vary depending on your country of residence and if you were referred by a third party.

What happened with BDSwiss in the UK?

In May of 2021, the FCA cited BDSwiss for prohibited marketing practices originating from certain of its affiliates and social media influencers, and required that the broker halt doing business in the U.K. and refrain from marketing to U.K. residents until a number of outstanding items are rectified.

In a nutshell, the FCA has imposed rules which restrict the marketing and sale of CFDs to retail consumers, and the FCA believes that BDSwiss - via some of its affiliates - broke those rules.

BDSwiss partnered with affiliates that marketed referrals to retail traders, and in the process they largely referred them to BDSwiss’ overseas firms that don’t provide FCA protections. Essentially, this means that U.K. consumers were being encouraged to open accounts with a broker they associated with the FCA, but did not receive the protections that should be afforded by an FCA-regulated broker.

According to the FCA, “almost 99% of them were referred to the Overseas Firms, meaning the clients did not benefit from the protections afforded to consumers dealing with an authorized firm.” Additionally, BDSwiss’ affiliates marketed trading signal providers, and in doing so they “frequently fail(ed) to mention that the underlying financial instruments being recommended are CFDs.”