Many Forex brokers expand their services on binary options services. This is not uncommon given that the markets are similar and based on the same trading principles. The only difference is that binary options do not include buying and selling but rather predicting or gambling on the market outcomes. Binary options are also somewhat easier to understand, and traders do not own the currencies or other assets at any moment, they simply state whether the selected currency/asset is going to rise or drop in value. This BD Swiss review is about the BD Swiss broker who offers both, options and Forex trading. The broker took its chance to broaden the variety of choice and is doing great in the competitive industry. Let us see what we can expect from BD Swiss.
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General Information
This broker appeared on the online market in 2010 and offers a great service package to its customers. The broker is particularly known for binary options and CFDs. The broker is registered with power house CySEC which is a very popular license among many brokers. The CySEC license provides access to all EU markets and is even acknowledged wider. Cyprus has been very desirable as a Forex destination since 2004 when Cyprus joined the EU. CySEC tightened the leash and implemented stricter policies, but the island country remained a tax haven which has been attracting Forex magnates ever since. To hold a CySEC license, brokers are subject to the MiDF directive on capital markets which dictates the rules in the market. Under the license, companies have to provide a secure trading environment for all clients and every mistake is liable to penalty fees. The BD Swiss broker runs its business smoothly, and the fact that the broker was never penalized by CySEC says a lot about its impeccable reputation. BD Swiss found its home in one of the most prominent neighborhoods in Nicosia, Cyprus, and runs its successful business operations from there. The broker is equally successful with binary options as with Forex.
Trading Platform
As far as platforms are concerned, BD Swiss offers the standardized Meta Trader 4 which comes with all the fancy trading options. It seems that the MT4 optimizes trading results and gives a better chance of winning with minimum or no latency, auto-trading, and easy access. BD Swiss provides the platform in all forms and versions, e.g. for Web, Windows, Mac, and of course, the BD Swiss mobile apps for iOS and Android devices are also part of the deal. Trading on the go has become a habit of all traders, and brokers have to meet this criterion if they want to offer the really the best package.
Account Types
BD Swiss offers a single universal account which covers all traders’ needs and offers an all-around trading experience for newcomers and trading pros alike. The good news is that traders can register with the BD Swiss account without an initial deposit. On the other hand, trading cannot start without depositing. You can start trading with BD Swiss after you deposit ca. $100. Their account is popular among common people who seize their opportunity to trade with as little as $100.
The account is commission-free with leverage 1:500. The minimum trade volume is 0.01 lot, as with the majority of brokers. The account comes with variable spreads which start already at 1.0 pips. Unfortunately, market makers never offer spreads lower than 1 pip except for ECN accounts which directly link you to the best quotes.
BD Swiss Bonus
The broker offers more bonuses for trading binary options than the Forex section. The BD Swiss 100% return bonus for options traders is definitely attracting many people to the options market. The broker also promises an 85% return rate on binary options trading. For Forex, different promotions can account for lucrative rewards, e.g. friend referrals can double your account balance. Gather your friends and convince them to sign up with BD Swiss and the broker will express its gratitude with generous cash.
Funding Options
BD Swiss offers a limited number of payment methods. They accept credit cards and wire transfers but yet they do not specify which e-wallets they accept. We suggest you contact the customer support to find out which methods are accepted. The minimum deposit amount is $100 and withdrawal $10. There is no maximum deposit or withdrawal amount. Nevertheless, withdrawals below $500 come with a fee of $25. The broker processes withdrawals within one business day and makes sure that your profits end up safely in your account.
Customer Support
The customer support is reliable and responsive. The multilingual support team can be reached in all major European languages and others:
- French
- German
- Italian
- Spanish
- Korean
The live chat option is presented on the broker’s website and can be directly used without searching the website up and down. Alternatively, you can also contact the support team via phone or e-mail for any info you could possibly need.