BDSwiss is easily one of the most versatile nontraditional investment brokerages in the marketplace. Offering binary options, Forex trading and CFDs, BDSwiss covers all of the bases of an active online trader. BDSwiss is also a long-standing brokerage in the marketplace. With a strong commitment to customer service, this brokerage puts itself toward the top of the list of the best binary options brokers.
BDSwiss was founded in 2012 on a plan of providing the best service and trading platform for online traders. In the mere half decade since, the site has grown to include more than half a million traders from around the world, a testament to the fact that it has accomplished its goal. The site is now considered to be one of the most popular binary and CFD brokers in the world, and is still working every day to ensure the traders who choose to invest through it are supported throughout their trading careers.
On BDSwiss, traders can open one of three account types. The first is the BDSwiss Basic account, which is the default account traders can sign up for with no minimum deposit. With this account, traders can get leverage ratios of up to 1:400. Next is the bonus account, which can be opened with a minimum deposit of £500. This account offers leverage of up to 1:500. Finally, there’s the BDSwiss Black account, which offers the same leverage as the Bonus account, but also provides no-commission trading.
Like most brokerages, BDSwiss also has an inactive demo account. Demo accounts let new traders try out the account features on a platform and even enter mock trades into the platform using real-time financial data. If you’ve never traded online before, you should open up a demo account to learn your way around before deciding to invest your capital in the binary options marketplace.
As part of its customer service, BDSwiss provides excellent resources for traders of all experience levels. The core of the BDSwiss educational center consists of six free courses that cover everything from general trading to the complex arena of psychological market analysis. To build on the ideas presented in these courses, BDSwiss also has ongoing live trading webinars scheduled each week. In these webinars, traders can see professionals analyze markets and make real-time trades, giving them the opportunity to learn in a more direct way.
Complementing these general trading resources are specific news feeds for traders. BDSwiss hosts a complete economic calendar, as well as regularly updated financial news. A trading journal also includes articles about everything from specific stocks to the effects of macroeconomic trends on the markets. Altogether, these many resources make BDSwiss a great brokerage for those traders who like to get deep into their analyses and consume as much information as possible before opening a position.
Like many other online brokers, BDSwiss makes use of the well-liked MetaTrader 4 trading software. This software complements BDSwiss’s wealth of available information with some of the best data graphs in the industry. In the case of BDSwiss, however, the MT4 software is used for Forex and CFDs only. For binary options, the site uses a proprietary platform meant to make the the process as simple as possible.
One note about the binary options platform used by BDSwiss is that its graphs are less than stellar. Though they convey the necessary information, they are not as easy to read quickly as the MT4 graphs. If you plan to trade binary options extensively, it may be worth your time to find a good third-party provider of asset price charts to use.
BDSwiss boasts some of the most diverse assets of any online trading platform, mainly because it hosts Forex, CFD trading and binary options all in one place. Traders can select from stocks, indices, currency pairs and commodities, making it easy to shift from asset class to asset class as current market conditions dictate. Binary options add an extra element of depth by providing a way to trade on a similar asset list with a guaranteed risk and reward structure.
The final point that sets BDSwiss apart from some other brokers is the fact that there is a cutoff of risk at the point that your account runs out of money. In Forex and CFD trading, it is in theory possible to lose more than you deposit into an account. However, in the case of BDSwiss, the brokerage will automatically close your positions when this point is reached, and will not expect to be compensated for any slight negative balance that may accrue. While this still means you could lose your deposited money through imprudent trading, it does protect you from losing anything more than you deposit into your trading account.
Deposits and Withdrawals
To deposit money into a BDSwiss account, you can use a major debit or credit card, a Skrill account, a direct deposit or a bank transfer. BDSwiss is also one of the few brokers that has no maximum limit on how much money you can deposit or withdraw at any one time. Withdrawals may be conducted via any method that can be used for deposits. The minimum deposit and withdrawal amount are the same, at £100 each. Withdrawals will typically be processed within 2-7 business days after the funds have been requested.
Traders who choose to trade with BDSwiss get access to some of the best customer service and support in the binary options marketplace. The firm’s expert service staff can be contacted at any time via live chat, email or telephone. BDSwiss operates 16 country-specific phone service lines, allowing customers to get assistance no matter where they may be located.
Bonuses and Promotions
BDSwiss is among the brokerages that does not currently offer and bonus or promotion plans. This, however, does not put BDSwiss at a marked disadvantage to other brokerages, as most binary options and Forex brokers have been forced to remove or heavily adjust their promotional programs. This is because of a decision made by the Cyprus Securities and Exchange Commission in November of 2016 that prevented retail brokerages from using promotional programs for customer acquisition or retention.
When trading online, it’s important to know that your funds and personal information are secure with your broker. BDSwiss secures all of its operations with state-of-the-art technological security, making it very difficult for hackers to gain access to any communications or information on the site. BDSwiss is also fully registered by the Cyprus Securities and Exchange Commission, which by extension obligates it to conform with all EU financial and securities regulations.
Overall, BDSwiss is a great brokerage for new or experienced traders. Its commitment to customer service shows in the way it treats its customers. The multi-tier account system also allows traders to gain access to better features as their accounts grow. The focus on information that BDSwiss provides is sure to please those who prefer technical analysis and highly-informed trading strategies.
- Excellent educational materials
- No maximum withdrawal or deposit
- Diverse trading options
- Proprietary binary trading platform’s graphs could be better
- No promotions
- Few advanced trading features
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