BDSwiss Review 2023

BDSwiss is a European forex broker that offers multiple types of trading accounts. Their Trading Fees is competitive with the Classic account & quite low with Raw account. They also offer ZAR currency accounts & local funding and withdrawals via Local Bank Transfer. Read our detailed review on BDSwiss for South African traders to find where they shine & lack.

BDSwiss is an International Forex and CFD broker that is licensed with FSC & FSA regulations. BDSwiss was launched in 2012 in Zurich but has a physical presence in various countries around the world. They are mainly popular in European countries.

BDSwiss accepts traders from South Africa, but it is not regulated by FSCA and does not have a local office in South Africa currently. The clients from SA are registered under ‘BDS Ltd’.

They are a reputed CFD broker that allows trading on a wide range of CFD trading instruments including 51 currency pairs & 200+ other CFDs on shares, commodities and indices. 1000+ Instruments including stocks and ETFs are offered on their platform.

We liked their responsive customer support services & the variations in types of trading accounts. Also, they don’t charge any extra commission for deposits or withdrawals.

Read our unbiased review of BDSwiss that covers all the pros and cons of choosing this Forex broker for traders in South Africa.

BDSwiss South Africa – A quick look

BDSwiss Regulations

BDSwiss Group are not regulated by FSCA in South Africa, and ‘BDS Ltd.’ are registered under offshore regulation FSA . BDSwiss Broker was launched in 2012 and claims to have more than 1.5 million registered trading accounts to date.

BDSwiss Group currently holds regulatory licenses of the following regulatory authorities:

1. Financial Services and Commission (FSC): BDSwiss is registered and regulated with Financial Services and Commission as BDS Markets in Mauritius under license number (C116016172).
2. Financial Services Authority (FSA): ‘BDS Ltd’ (the company of BDSwiss) is authorized and regulated by the Financial Services Authority (FSA) of Seychelles under license number SD047.

Traders based in South Africa are registered under BDS Ltd. FSA, Mauritius.

BDSwiss is a popular broker in Europe & UK, but their global entity is not regulated by any Tier-1 regulator. This makes BDSwiss a moderate risk forex broker for traders in South Africa as offshore & cross-border regulations are not as safer as domestic regulation & Tier-1 regulations.

BDSwiss is not listed on any stock exchange and does not hold a banking license. The client’s funds are kept in a segregated bank account.

BDSwiss has a good track record as we couldn’t find any proven scam or complaint against it.

Compared to other Forex brokers in South Africa that are regulated by FSCA, BDSwiss holds a lower safety rating due to them not being regulated locally or with any Tier-1 regulator.

BDSwiss Spread & Fees

For a comprehensive review of the fee structure at BDSwiss, we have divided it into trading and non-trading fees. The incurred charges at BDSwiss differ for the account type chosen by the trader.

BDSwiss Trading Fees
This includes the fees that are incurred while executing trades. BDSwiss offers 4 active trading accounts namely Classic, Premium, VIP & Raw trading accounts.

The Classic, Premium and VIP account types are commission-free for trading currencies while the Raw spread account is a commission-based account with a very tight spread.

Below Table shows the typical spread & commission for major like EUR/USD with different account types on BDSwiss.

Account Type	EUR/USD Average/Typical Spread
Classic Account	1.5 pips
Premium Account	1.1 pips
VIP Account	1.1 pips
Raw Account	0.3 pips (plus $5/lot)

Note: There is no extra commission per lot with any account type other than the Raw Account on all currency pairs. There is an extra commission on $5 on all currency pairs, $2 on indices an 0.15% on shares with Raw accounts.

1. Classic Account Trading Fees: It is a spread-only account for all the available trading instruments except CFDs on indices ($2/lot on Indices). Trading CFDs on indices with Classic accounts incurs a commission of $2 apart from the floating spread on the concerning index. No commission is charged for forex and CFDs on commodities and cryptocurrencies with the classic account type.

   The spreads are variable and fluctuate depending on the market conditions and liquidity in the market. The average typical spread for EUR/USD for the Classic account type is 1.5 pips per lot.


2. VIP Account Trading Fees: The floating spreads for all the available instruments are much lesser with the VIP trading account with no commission involved. Another additional advantage above the classic account is that the CFDs on indices are also commission-free.

   The average typical spread for EUR/USD with the VIP account is 1.1 pips per lot.

3. Raw Account Type: This is the commission-based account type in which spreads are as low as 0 pips per lot. The average floating spread for EUR/USD with the raw spread account is 0.3 pips per lot.

   The commission for one round trade is $5 for forex and CFDs on commodities and $2 on indices and 0.15% on shares with the Raw account type.

4. Premium Account Type Trading Fees: You can trade Forex & CFDs on Commodities with this account type. This is a spread only trading account & there is no extra commission per lot with this account. The average floating spread for EUR/USD with the Premium account is 1.1 pips per lot.

Trading with CFDs on stocks with any of the account types will incur the same fees. A commission of 0.15% is charged for each round trade of CFDs on all the available stocks with any of the account types.

Compared to other regulated forex and CFD brokers in South Africa, we found BDSwiss to be decently priced as the spreads on the classic account are decent. The VIP account spreads are impressive and no commission makes it an ideal choice. The commission on the Raw spread account is lower than a majority of the commission-based account types with a very tight spread.

BDSwiss Non-Trading Fees
This includes all the fees that may apply to the fitting trader without executing trade orders.

The account opening at BDSwiss is free while the deposit and withdrawals with credit cards are also free of cost.

Traders might have to pay the following non-trading fees.

1. BDSwiss Withdrawal Fees: BDSwiss does not charge and deposit fees from the trader. But the there are withdrawal charges depending upon the payment method. In case withdrawing less then 100 USD or 100 EUR then there are fixed charges of 10 EUR. For withdrawals higher than the deposits via Credit card, 4 EUR will be charged. Withdrawals above 100 EUR or equivalent are free of additional charges.

2. Currency Conversion Fees: BDSwiss does not charges currency conversion fees with standard rates if the deposit currency is different from the Base Currency of the account. BDSwiss is offering ZAR base currency account. So traders from South Africa can make deposit in ZAR using local payment methods like local banking, etc.
3. Inactivity Fee: Many regulated brokers in South Africa charge inactivity fees if no trades are executed for a prolonged period. If no trades are executed for 90 consecutive days, BDSwiss will deduct 10% from the account each month until a trade order has been executed. The minimum amount for inactivity fees is $25 and the maximum amount is $49.90. This fee will be charged every month after 90 days of inactivity until the account balance reaches $0. Moreover monthly account management fees will be deducted my them from the credit until the credit is used up.

Compared to other regulated forex and CFD brokers in South Africa, the non-trading fees at BDSwiss are marginally higher than many of them. The inactivity fees can be very ineffective for the traders who trade occasionally.

But if you are a high volume trader, then the trading fees is low if you trade with Raw Account as the spread + commission is quite low. This will make the overall fees low.

BDSwiss Leverage

BDSwiss offers a leverage of upto 1:500 with all the account types. But the leverage can be as high as 1:1000 with the Premium account.

Traders based in South Africa have the option to adjust to a lower leverage.

BDSwiss Trading Platforms

1) MT4 & MT5: BDSwiss provides the most widely used MetaTrader trading application that is available for Windows, macOS, Android, and iOS devices. Traders can choose between MT4 and MT5 trading platforms according to their own convenience and ease of use. The MT4 and MT5 are the most chosen trading platform for forex and CFD trading, so Metatrader is supported by a large number of forex brokers.

2) Forex Web Trader: Apart from MT4 and MT5, BDSwiss also has its WebTrader platform designed by itself. This web trader application provides various technical and analytical features in a user-friendly manner.

3) BDSwiss Mobile App: They also have a mobile app which is available on both Android & iOS.

Overall, their trading platforms are good & supported across all devices.

BDSwiss Customer Support

The customer support executives at BDSwiss can be reached out for assistance at any step in the trading process. Following is the review of all the available methods to connect with the support staff at BDSwiss.

1. Live Chat: The live chat window is available 24*5 except for the weekends. The chat is first connected with a chatbot but can also be connected to a Real agent upon request. The responses and behavior of the support agents was really helpful and user-friendly, but they nearly took 2-3 minutes on average for each response during peak hours. The time to connect and response time was much lesser during sluggish trading hours.

2. Email Support: Traders can also avail the email support services by filling out the contact form. The query can also be raised directly through [email protected]. They generally revert on the same day in 3-6 hours.
3. No Local Phone Support: BDSwiss does not offer local phone number for traders in South Africa. However, traders can reach out to the support staff at +44-2036705890 but this will incur international calling charges for South African traders.

The customer support services at BDSwiss are decent, as their live chat agents were supportive and resourceful during our research. The lack of local phone support in SA or any other official social media platform support limits its ratings in the customer support segment.

BDSwiss Accounts

BDSwiss Demo Account

BDSwiss offers Free demo trading account for traders in South Africa. Traders can open a demo account at BDSwiss & download MT4 in few minutes from their website. We found the process to be quick & simple.

BDSwiss Live Accounts

BDSwiss allows traders to choose from 4 different Live account types according to your own preference & suitability. The minimum deposit at BDSwiss is $100 for SA traders with Classic Account.

BDSwiss provide a ZAR Base Currency Trading Account. So South African traders can open account using ZAR base currency. Moreover If you want to choose different base currency account then you can open with USD, EUR, or GBP as the base currency.

Our below detailed review of the account types will assist South African traders in identifying the best-suited account type at BDSwiss.

1. Classic Account
   This account can be opened with a minimum deposit of $100 and is ideal for small volume traders and beginners. The spreads are highest with the classic account but no commission is involved for all the available trading instruments except CFDs on indices. If you using USD currency to add your fund that you need to follow 100USD.In case you are opening a classic live account with ZAR currency the minimum deposit will be 150 ZAR.

   The classic account type allows trading on all the available instruments but grants limited access to features like autochartist and trading alerts. With a deposit of more than $500 or equivalent, traders can gain access to the autochartist and with $1000+ deposit you get access to personal account manager features.

2. Premium Account
   The minimum deposit for opening the Premium account is $100. Most of the features are the same as the Classic account except that you cannot trade CFDs on Indices. Also, the spreads for currency trading are lower with this account. For example, the typical spread for EUR/USD is 1.1 pips (compared to 1.5 pips with Classic account). If you are not looking to trade CFDs on indices, and only want to trade Currency & Commodity CFDs, then this account is okay. You also can have a ZAR currency account on a Premium account and the deposit will be 150 ZAR.
3. VIP Account
   This is also a commission-free account type in which spreads are lower than the classic account. The CFDs on indices are also commission-free with the VIP account. The minimum deposit requirement for the VIP account type is $3000 which makes it less suitable for small-scale traders. For the VIP account, you can use your account once you reach the minimum deposit of 3000$.

   Apart from lower spreads and 0 commission on all the available trading instruments, clients with VIP account can avail various other features over the classic account. The VIP account grants access to various features like trend analytical tools, autochartist, personal account manager, VIP trading alerts, etc.

4. Raw Account
   The raw account is ideal for professional and large volume traders as it is a commission-based account in which spreads are much narrower than the Classic or VIP account. The minimum deposit requirement is $5000. This account grants access to all the features available with the VIP account. For the Raw account, you can use your account once you reach the minimum deposit of $5000.

The Classic & VIP account types at BDSwiss can be opened with either MT4 or MT5 trading platforms and the number of available trading instruments is nearly the same. 250+ ​CFDs on Shares, Indices, Forex, Commodities and Cryptos are available with these 2 account types. Some of the CFD instruments are not available to trade with VIP and Raw account types.

Premium Account is only available on MT4 & you can trade CFDs on Currencies & Commodities with this account type at moderate spreads.

BDSwiss offers different account types to match the suitability of all types of traders. We liked the variations in the account types offered. Although, the high minimum deposit for VIP & Raw accounts is a con. Also, the availability of ZAR-based trading account is a good option for those seeking to trade with ZAR base currency account in South Africa.

BDSwiss Trading Instruments

BDSwiss offers forex and CFD trading services across wide range of financial trading instruments. The total no. of CFD trading instruments are high at BDSwiss compared to other CFD brokers.

The product offering can be grouped into 5 categories:

1. Forex: A total of 50 currency pairs are available to trade with the standard lots at BDSwiss. These currency pairs can be traded with a maximum leverage ratio of 1:500.

2. Commodities CFD: BDSwiss offers CFD trading on 5 commodities pair including USOIL, NGAS, Silver, Platinum, etc. with a maximum leverage ratio of 1:10.
3. Stock CFDs: Traders in South Africa can also trade through CFDs on stocks from major American and European markets. More than 120 stock CFDs are available to trade with a maximum leverage ratio of 1:5.
4. Index CFDs: BDSwiss offers CFDs on 10 major indices of American and European markets with max leverage of 1:20.
5. Cryptocurrency CFDs: BDSwiss also allows trading on 20 cryptocurrency pairs with a leverage of 1:5.

   Traders must understand that by trading through CFDs, they do not physically own any of the assets but are only speculating on the price movement of the underlying instrument in the concerned financial market.

6. ETFs: BDSwiss offerss trading on 80 ETFs with direct market access with their InvestPLUS Account at a commission of 0.1%.

Compared to other regulated forex and CFD brokers in South Africa, the number of available trading instruments is decent as several regulated brokers offer more trading instruments.

BDSwiss Deposits & Withdrawals

BDSwiss offers multiple local methods of funding and withdrawal for traders in South Africa. But it is important to note that like other brokers, the method you use to deposit should be the same method you use to withdraw.

Withdrawal requests are processed by BDSwiss’s Account Team within one working day. However, the time required for the funds to be transferred to the account may vary, depending on the payment method.

1) Local Banking: BDSwiss don’t have local Bank account in SA currently but you can transfer using your local bank account via internet banking. This is the most simple method for South African traders.

2) Credit & Debit Cards: The credit card is the most convenient method for South African traders at BDSwiss.

3) Wire Transfer & E-Wallets: They also accept bank wire transfers and e-wallets like Skrill, Neteller, and many more.

4) Cryptocurrencies: Traders can also transact through 3 cryptocurrencies namely BTC, BCH, and ETH.

The lower cap on deposit is is 10 USD (or 150ZAR) for all the available methods.

The availability of local bank transfer option in ZAR is a pro.

For example, if your account base currency is in USD, and you are making a deposit of $300 via Bank Wire, then your bank would charge you conversion fees & likely a markup on the exchange rates for conversion to USD.

So, the overall fees would be higher to deposit funds in this example as compared to brokers that offer funding & withdrawals in ZAR with ZAR Base Currency Accounts.

With the the withdrawal fees at BDSwiss?
There is no extra fees on withdrawals with methods at BDSwiss except for card & wire. There is a minimum withdrawal amount which is 25$ and amounts lower than that can not be processed. There is no withdrawal fees when you request a withdrawal higher than these limits.

You can withdraw funds via Bank transfer to your Bank account in South Africa.

BDSwiss Bonus

Currently there are no ongoing bonus offers at BDSwiss. We will update this section if there is an update in the future.

How to open account with BDSwiss

Opening an account with BDSwiss does not have many steps. You can open an account with them within few minutes by following the below steps:

Step 1) Click on the “Sign Up” Button: First of all, visitors need to click on the “Sign Up” button showing at the top right side of the home page of the BDSwiss website.

Step 2) Enter personal details: Now you need to enter some of your personal details like country, address, and date of birth, as shown in the below screenshot.

Step 3) Account Verification: After entering your personal information, you must submit one ID proof and one address proof for account verification.This process can take some time due to manual verification by BDSwiss.

Step 4) Fund your account: After the KYC verification, traders can fund their account using any preferred payment method to start trading.

Do we Recommend BDSWiss?

Yes, BDSwiss is a European forex broker that offers wide range of trading instruments & multiple account types to facilitate multiple types of traders.

For lower volume traders and beginners, their cost can be slightly higher compared to a few regulated brokers in South Africa. Large volume traders can take advantage of the lower spreads and commission with Raw account type. Plus, traders can trade a wider range of CFD instruments at BDSwiss compared to other CFD brokers in SA.

But the lack of FSCA regulation, local phone number, and local office are some of the major drawdown we find for traders in South Africa.

BDSwiss FAQs

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