The Broker known as a BD Swiss, which was known earlier as Bank De Swiss, has been around since 2011 and has since become a globally reputed broker in CFD trading and most recently in Forex trading as well.
BD Swiss has most of its half a million plus clients operating from European nations. Altogether it is accessible for up to 20 countries and its platform therefore is available in 20 different languages.
BDSwiss accepts traders from the UK.
However, Australia – which happens to be one of the most prominent nations in the world when it comes to CFD trading and forex trading – is not a member of that list.
The BD Swiss brand is owned by the financial investment company, Keplero Holdings Ltd. It is a licensed and fully regulated CFD trading and Forex broker under the Cyprus Securities & exchange Commission or CySEC.
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Primary Features
BD Swiss is quite compatible with the majority of CFD and Forex traders incorporating into its system the essential elements and qualities of any good broker in the business. As with all brokers of this kind its trading platform is based online and is called SpotOption. Not only is it preposterously simple to use, it is also aesthetically pleasing and that could matter more to some customers than others.
Pay out rates are not exactly through the roof but they are still up there. On calling a High or Low Option for instance, you can expect a pay-out of 89%. You also have the option of extending time period on a trade by using the Roll Over feature. Changing the time period could potentially save you from making an inaccurate prediction and landing out the money.
You can also make use of the double feature to double the funds placed on an option. If you are confident enough that your prediction is accurate, you could then stand to make double the profit that was originally projected.
The Mobile App
Being able to continue trading while commuting outdoors is essential for many CFD traders. BD Swiss offers an easy to use app for devices with both Android and IOS software. You will have complete access to your account details and history as well as place all the different options on any asset offered by the online platform.
Opening an Account
BD Swiss is a fairly attractive choice for novice traders to invest in as it requires just $100 for opening a brand new account. However, in order to afford yourself more leverage on trades, it is advisable to invest at least two and half times that amount to get a decent start in the market. Traders do not have the option of maintaining multiple accounts simultaneously or access to a demo account.
Deposits and Withdrawals
Unlike its stingy policy on accounts, you do get a much friendlier variety of deposit options with BD Swiss. For the convenience of the traders, the website features a thorough description of all the important details concerning deposits such as the various methods available as well as the relevant processing times.
The minimum deposit that can be made in 100 Euros or an equivalent value in other currencies. Apart from bank wire transfers which can take any amount of time within a week to be processed, a deposit can be made using a Credit card, Paysafecard, EPS, Maestro, Giropay, Ukash or Sofort.
Withdrawals can be made using the same methods used on deposits. Processing a withdrawal can last from a single day to an entire week. As with deposits, the minimum amount for takeout is 100 Euros. Only for bank wire transfers, there will be a handling fee of $25.
Bonuses are not much of an amusement here. There are some but you would have to consult the terms & conditions extensively to see if you can land one.
Customer Support
You can keep in touch with this broker via telephone, emailing or a live chat option on the official website. The main languages you can communicate in are English, Spanish, Italian, German, Swedish, Austrian, Norwegian and Danish.
Pros
- User friendly online platform
- Low deposit for opening an account
- Diversity of assets and option are available
Cons
- Does not accept US or Australian traders
Verdict
BD Swiss tends to prefer European clientele. However, it is still an extremely competent and reliable broker and is capable of returning huge profits to its clients.
