Minimum Deposit: 10$
Payout: Up to 85%
Demo Account: No
Signals: Free Trading Alerts
In light of the ESMA ban on binary options in the EU, BDSwiss have taken the decision to withdraw them completely. They continue to offer forex and CFD trading only.
BDSwiss, short for “Banc De Swiss”, was established in 2012 and offers Forex, CFD and Binary Options trading. They are regulated by CySec under the following License number: 199/13. Their registration number is: 300153 and their address: 23, Spyrou Kyprianou Avenue, Protopapas Building, 3rd Floor, Mesa Gitonia, CY-4001 Limassol. You can reach BDSwiss by phone on the following number: +4969175368641.
BDSwiss is a member of the investor compensation fund:
“This fund is a private legal entity, which will compensate client’s non-invested capital up to €20,000 in the event of the company’s liquidation.” – BDSwiss.
The brand also offer the ‘sub-zero account‘. This allows traders to let their account balance go below zero – effectively offering credit. This might prove a useful feature for traders looking to act quickly after spotting an opportunity. Terms and conditions apply, and traders need to use the feature responsibly.
BDSwiss uses the SpotOption platform for their Binary Options services. A separate platform delivers FX/CFD, where a free demo account is also available. For the Binary Options demo account, you need to contact your account manager. The image below shows the BDSWiss Binary Options platform and the steps to making a trade;
How To Place A Trade At BDSwiss
- Select the asset of market
- Select the expiry time
- Set the trade size (The amount put at risk)
- Select the direction of the price (Higher – Call, or lower – Put)
This platform is the standard SpotOption offering. It comes equipped with:
- Binary Options
- Long Term
- 60 Seconds
- One Touch
- Ladder options.
You can load 16 assets at the same time for quicker trading.
The trading charts on the Binary platform use Line or Candlestick format. You may also choose among the following expiry timeframes: 1, 5, 15, 30, 60 minutes and 4 hours, Daily, Weekly and Monthly.
A number of indicators that can be directly inserted to your charts are:
- Moving Averages
- Bollinger Bands
- Fibonacci Retracements.
The platform for the Forex trading however is different and is much more advanced. You could compare it to MetaTrader 4 with loads of indicators, technical tools and many more settings.
Typical Binary Options types of options such as Short term, Long Term, Pair trading, Ladder and Touch.
Regular Binary Options: Trade high/low also known as Call or Put.
Short Term: The short term is only 60 seconds.
Long Term: Weekly Expiry or longer.
Pair Trading: For example, Gold vs Silver or Amazon vs Ebay.
One-Touch: Determine whether price will touch a certain level to win the option.
Ladder: Target based trading.
Short term expiries carry a $1 dollar minimum, some other trades have a $25 minimum.
Trading Software and Features
The payouts reach up to 85% for major currency pairs and most assets offer payouts within the 70% to 80% range.
The list of assets is not the strongest with this broker at just under 70 we can consider this average. Most major currency pairs are of course included. How many assets you can trade also depends on the option type. For example, only 7 pairs are available for Pair Trading. There are 11 currency pairs, 4 Commodities, 3 Indices and 17 Stocks available for the standard Binary Options trading which should satisfy most customers.
Live chat is available in English, German and Italian which is very good. All you need to access the live chat is an email address and a user name. Telephone and email support is also available – telephone support is delivered locally in 16 different nations.
The firm are now also offering something called the sub-zero account. This allows a trader account balance to drop below zero. Effectively allowing user to trade ‘on credit’. Certain terms and conditions apply, and traders should stick to the maxim of “never trade with money you cannot afford to lose”. But the feature is a helpful one for responsible traders who might want to take advantage of market quickly.
Terms & Conditions
As always you should carefully study the terms and conditions of any firm you wish to invest with. We looked at several things for you: 1. Dormant account fee is applied after 6 months which is more than enough time to learn and have the time to be active on the platform. If however you remain inactive after 6 months, a 10% fee will be deducted from your account ranging from minimum 25 Euros but NOT more than 78.90 Euros.
BDSwiss offer reasonably quick withdrawals, with processing taking 3-5 days. They recently added to their range of deposit options (wire transfer, debit and credit cards and e-wallet solutions). They want traders to be able to use local, familiar payment methods, so offer a good spread of deposit choices.
BDSwiss recently opened a new service for clients – offering free trading alerts. In addition the signals themselves, the service also includes entry and exit points. This allows traders to better judge the quality and strength of the signals – plus the all important element of timing.
Signals can lead to over trading, but as these are offered free, they are a low risk way to try them out and see how accurate they are long term.