If you’re looking for a forex broker, BDSwiss is a good choice. Its fees are generally free for deposits in the base currencies. In addition, the company does not charge fees for wire transfers. And their platform lets you benefit from the insights of eight different professional analysts. The website also features in-depth market news and technical analysis.
Market news
If you’re looking for a broker that offers competitive spreads, look no further than BDS Swiss. This broker is a member of the Financial Commission, which means it adheres to strict anti-money laundering practices. Its membership also enrolls clients in a compensation fund. This means that, should you experience a loss while trading with BDSwiss, you’ll be able to claim up to 20,000 Euros.
The market news section at BDSwiss is well-organized and well-written, with articles grouped into five categories: Market Preview, Technical Analysis, Daily Videos, Weekly Outlook, and Special Reports. These are written by professional traders and analysts renowned in the industry. Their work is frequently published in world-renowned publications.
Trading platforms
BDS Swiss offers a variety of trading platforms available to its clients, including a classic and VIP account. Both types include spread fees, which are incorporated into commissions. BDSwiss also accepts 150+ different types of payment, including credit and debit cards, e-wallets, and wire transfers. In addition, BDSwiss offers extensive educational resources, a product catalog, many asset classes, and a focus on customer service.
The BDSwiss broker trading platform allows users to choose how much leverage they want to use. Traders can use the leverage of up to 1:30 for forex pairs and 1:30 for commodities. They can also utilize margin calls to manage their account equity.
Costs
There are numerous types of Swiss brokerage firms, but there are a few costs that should be kept in mind. Some Swiss brokers charge large fees, and some do not. Some are expensive for small investors, while others are very cheap. A good choice for a small business is Swissquote. CornerTrader is also affordable for smaller investors.
In addition to fees and commissions, a Swiss broker also charges a federal stamp duty, a tax levied by the federal government every time a security is bought or sold. This tax equals 0.075% of the value of Swiss securities, while it is 0.15% for foreign securities. Swiss online brokers pass on this cost to their investors. It is one of the highest third-party costs of trading securities and is greater than the brokerage fees charged by the stock exchanges.
Account types
There are several broker account types at BDSwiss. The definitive account features the most popular assets and powerful trading software. The software is based on the MetaTrader 4 platform. Its comprehensive trading functions and tools enable you to trade effectively. The web trader is a powerful internet-based trading platform with a user-friendly interface and powerful analysis functions.
BDSwiss broker account types include the Classic, Premium, and Raw accounts. These differ in spreads and commissions. The Classic account has a lower minimum deposit, while the VIP account has a higher minimum. The commission for moving a position varies depending on the account type. The Classic and Vip accounts are based on the spread model, while the Raw account requires a minimum deposit of 5 EUR/$/PS.
Trustworthiness
You may be unsure whether to trust a BDS Swiss broker, but there are many reasons to do so. First, it’s important to understand how the broker is regulated. The FCA (Financial Conduct Authority) recently penalized BDSwiss for its unregulated practices and misleading marketing.
Another major concern is the lack of ASIC regulation. As an offshore broker, BDS Swiss can offer leverage of up to 1:500, raising trust and safety issues. In addition, the firm does not offer AUD trading accounts – so you’ll have to convert all your deposits and profits to USD to use them. You may also encounter high fees when withdrawing funds by bank transfer. Nonetheless, BDSwiss offers MT4 and MT5 platforms for trading in Forex, commodities, indices, and 26 cryptocurrencies.
