80/100
Rating
BDSwiss Crypto
*****
Go to BDSwiss Crypto
Highlights
  • Easy to use trading platform
  • Huge selection of trading options
  • Quick withdrawal processes

Crypto Trading BDSwiss Review UK 2021

BDSwiss has been operating since 2012, making it much older than many of the newer trading platforms out there. It has more than 1.5 million users from 186 different countries that trade an average of $84 billion every month.

It’s registered with CySEC (the Cyprus Securities and Exchange Commission), giving it the ability to operate across the EEA and in the UK. It’s also registered with authorities in the United States and Seychelles.

As well as our BDSwiss crypto review, we’ll look at what else the company offers to traders, including the ability to trade on several asset classes: forex, shares, indices, and commodities through its website and app.

bdswiss review
Pros & Cons of BDSwiss
  • Wide selection of trading options
  • Extensive list of payment methods
  • Withdrawals processed in 24 hours
  • Low minimum deposit to open an account
  • Support isn’t available 24/7
  • Crypto trading not available in the UK

Security, Usability, Look & Feel - A user-friendly design

As we write our BDSwiss review in 2021, the company is reporting more than 1.5 million users and over $80 billion in monthly trading volume, impressive numbers that show the vast reach that BDSwiss has.

Navigation

The BDSwiss website is clean and easy to use. It is minimalist, making it easy to find everything you’re looking for. The web trading platform is also clean but it still manages to pack in plenty of data to help you analyse your positions. The site loads relatively quickly. Some pages seem to lag a little, though not enough to be frustrating.

80/100
Rating
BDSwiss Highlights
  • Easy to use trading platform
  • Huge selection of trading options
  • Quick withdrawal processes
Go to BDSwiss

Usability

One of the things we like about BDSwiss is that it offers flexibility for trading via its website, mobile app, MT4, and MT5. The website and app are consistent, allowing you to seamlessly switch between the two. They are both clean and easy to use, with all the information you need to help make the right trading decisions.

Security

In 2016, an employee laptop was reportedly stolen, though it is not thought to have resulted in any customer data being accessed. The site appears to take all of the industry-standard steps for securing data, including using encryption.

How To Trade – Our tips for BDSwiss crypto trading

BDSwiss bitcoin, forex, and share trading is easy. Just follow the steps below to get started.

Step 1: Sign up

BDSwiss crypto and other asset trading is pretty straightforward. Firstly, you’ll need to create an account, you can do this in minutes by entering your name, contact details, and date of birth.

Step 2: Verify your account

You can deposit and trade for 15 days without verifying your account, though it’s best to get started on this right away. You can begin the verification process within your account and the site will tell you what information you need to provide.

Step 3: Make a deposit

To begin trading, you’ll need to fund your account. To do this access the Client Portal, choose the account that you want to deposit into and select the payment method you want to use. Then just follow the instructions on screen to complete the payment.

Step 4: Start to trade crypto on BDSwiss

Now that you’ve made a deposit, you can take advantage of the BDSwiss crypto and other trading options. You can do this through the BDSwiss website or mobile app, or, if you prefer to use MT4 or MT5, these are also available.

To find the BDSwiss cryptocurrency, forex, share, commodity or index that you want to trade, access the web trader platform and search for the asset in the “Search Assets” box. Next, follow the instructions on the screen to set your position, leverage and any take profit/stop loss preferences.

Company
Company-
Headquarter
Year of Founding2012
CEO-
Web Sitewww.bdswiss.com
Available LanguagesGerman, English
Customer SupportLive Chat, Phone, Email Support
Email-
Phone-
Licence
CySEC - Cyprus Securities and Exchange Commission
Verified by-
Payment Methods
PayPal
Credit Card
Bitcoin
Bank Transfer
Astropay
Skrill
+
Show More

Payments - A wide choice of deposit options

BDSwiss has an extensive list of payment methods available for traders. It claims to have around 150 options to choose from, but it’s not clear how it got to this number. All the major methods are available, including:

  • Visa
  • Mastercard and Maestro
  • Skrill
  • Neteller
  • PayPal
  • Bank transfer

Most of these payment methods allow for immediate deposit, so you can start trading right away. What’s more, BDSwiss covers the fees on both deposits and withdrawals so you won’t pay any fees when moving money in and out of your BDSwiss crypto trading account.

PayPal
Credit Card
Bitcoin
Bank Transfer
Astropay
+ 2

An important factor for traders when looking at a new platform is how quickly withdrawals are processed. On its withdrawals page, it claims to aim to process all requests within 24 hours while elsewhere, it says most are completed within 15 hours.

Of course, the payment method you choose will affect how quickly you receive the money too. Payment wallets like PayPal are usually the fastest option.

BDSwiss has a minimum withdrawal threshold of $100, which is higher than some other brokers. If you’d prefer a trading platform that offers lower minimum withdrawals, check out our eToro review.

Customer Service - A choice of support options at BDSwiss

BDSwiss offers customer service on working days, so you won’t get a response on a Saturday or Sunday. However, its team are contactable 24 hours a day between Monday and Friday so you can get support during forex trading hours.

If you need to contact BDSwiss you can do so via live chat, email or phone. The broker has made it really easy to reach them too.

When you access the BDSwiss website from your PC, you’ll see icons on the right of your screen: email, phone, and live chat. Clicking any of these icons will open the respective contact option.

You won’t need to pay to speak to BDSwiss by phone as you can request a call back. You can also call a local number for free phone support in several languages.

Support isn’t available in all languages. For example, the Live Chat runs in English even when you’re viewing the site in Russian. Though for UK users, English support and a UK phone number are available.

The broker’s support appears competent based on most of the BDSwiss reviews left online, with traders praising the team’s knowledge, promptness, and attentiveness.

License & Security - A safe, secure, and licensed brokerage

BDSwiss has been operating since 2012 and is widely regarded as a safe platform to trade on. At a website level, the site uses industry-standard encryption issued by Cloudflare, a reputable firm. Its privacy policy appears to comply with GDPR and its KYC policy outlines how it verifies the identity of all customers.

When signing up, you’re required to verify your phone number and you’ll be required to provide proof of ID and address.

CySEC - Cyprus Securities and Exchange Commission

In the EU, EEA and UK, BDSwiss is licensed by CySEC. This gives it the right to operate throughout the trading bloc, though it doesn’t have direct UK FCA registration. Users in the UK also aren’t protected by the Financial Services Compensation Scheme (FSCS).

If you’d prefer a broker that is registered directly with the FCA, then check out our Plus500 review or our FXOpen review.

If you’re in another EU or EEA country, you’ll find details of their registration on your local regulator’s website.

Reputation and Customer Feedback – What do customer reviews say?

Having been operating since 2012, BDSwiss has built up a strong reputation in the industry. On sites like Trustpilot, the broker has received a myriad of four and five star reviews from users, many of which have praised its “great support” and “personal approach”.

Some BDSwiss reviews from UK customers criticised the company because they were unhappy that their trades were unprofitable, while others complained about delays with withdrawals. It’s probably unfair to blame a broker for trading decisions you make, and it is reassuring to see that BDSwiss does regularly respond to reviews, offering to follow up and resolve concerns that users have.

BDSwiss has over a million customers from more than 180 countries who trade more than $80 billion each month, so they must be doing something right.

 

BDSwiss Crypto

Cryptocurrencies - What you can expect with BDSwiss crypto trading

Unlike some other crypto brokers, BDSwiss crypto trading uses derivatives. This means that, rather than owning the crypto itself, you are essentially betting on whether you think the price will rise or fall. Given the volatility of cryptocurrencies like Bitcoin, this could prove to be very lucrative, but does come with increased risk.

Some traders prefer to own the cryptocurrency itself, while others like the opportunities that derivatives offer. Mixing the two can also be a good way to diversify your portfolio.

Unfortunately, as of writing this BDSwiss review, crypto trading is not possible for customers in Britain and other parts of Europe. BDSwiss crypto UK customers were able to trade derivatives for these major cryptocurrencies until January 2021 when new rules placed restrictions on who could do this.

80/100
Rating
BDSwiss Highlights
  • Easy to use trading platform
  • Huge selection of trading options
  • Quick withdrawal processes
Go to BDSwiss

However, customers accessing the BDSwiss Global site can still trade popular coins including Bitcoin, Ethereum, IOTA, Litecoin, NEO, and Ripple. BDSwiss’ crypto options can be traded with no commission and competitive spreads.

Like you’ll see in the rest of our BDSwiss review for UK customers, the company’s trading platform is clean and easy to use, offers fast payouts, and competitive fees. So if you are able to trade cryptocurrencies with the broker, you’ll find the experience pleasant.

Fees - Are there any BDSwiss fees?

Like with all brokers, an important aspect of our BDSwiss review for 2021 is what fees the company charges. For deposits and withdrawals, BDSwiss will cover all receiving fees charged by the payment service. It also doesn’t apply its own fees for these transactions.

It does, however, charge several fees for the services it provides.

  • Overnight charges: these are levied on all positions that remain open overnight
    • Currency conversion fees: these are applied when you deposit a currency that is different to the one set on your BDSwiss crypto UK account
  • Spreads and commissions: these vary from asset class to asset class, though you can expect to pay some form of fee on every trade you make
  • Inactivity fee: this is charged if you do not trade for more than 90 days. This monthly fee is set at 10% of your balance, but it is capped.

If you want to see how these fees compare with other brokers, check out our XTB review and our CMC Markets review.

Jurisdictions and Limits - Who can use BDSwiss?

BDSwiss is licensed by a number of different regulators, giving it the ability to operate in most of the world. Principally, it is authorised and regulated by the Cyprus Securities and Exchange Commission. This gives it the ability to trade across the EEA and in the UK.

In the UK, the Financial Conduct Authority prevents the trading of cryptocurrency derivatives, which means they’re not available to trade them on BDSwiss as of January 2021.

Outside of the EU, BDSwiss is authorised by the U.S National Futures Association and the Mauritius Financial Services Commission.

80/100
Rating
BDSwiss Highlights
  • Easy to use trading platform
  • Huge selection of trading options
  • Quick withdrawal processes
Go to BDSwiss

Trading hours at BDSwiss vary depending on the asset classes that you’re trading. Forex markets are open 24 hours a day Monday to Friday, though hours vary more on shares, indices and commodities.

The BDSwiss website is available in 22 different languages, including English, Spanish, German, French, Korean, Arabic, Hindi, Chinese, and Russian, demonstrating the global scope of the company’s operations.

Other Trading - More than just BDSwiss crypto trading to try

In addition to BDSwiss crypto trading, the company provides you with the ability to trade on a range of different asset classes from all over the world. So no matter whether you want to trade stocks, forex or commodities, you’ll be able to do it all from a single account.

The broker offers more than 250 underlying assets, all traded through CFDs.

For forex trading, there are around 50 different currency pairings to trade, including all the main ones you would expect. Currencies available through BDSwiss include USD, GBP, EUR, AUD, CAD, JPY, and NZD. Most of these can be traded with no commission and relatively low spreads.

Commodity trading is also commission free, with a range of options to choose from.

For share trading, all the major global companies you’d expect are available, including Amazon, Apple, Facebook, Google and Microsoft. UK traders will be glad to see many big names from the London Stock Exchange, including Barclays, BP, BT Group, Lloyds Banking Group, and J Sainsbury. Trading commissions on stocks are also low. On UK companies you’ll be charged 0.02%, with slightly higher fees on those listed in other countries.

If you prefer trading on indices instead of individual stocks, there are eight to choose from, including all the major US ones, the FTSE 100, and several European indices.

80/100
Rating
BDSwiss Highlights
  • Easy to use trading platform
  • Huge selection of trading options
  • Quick withdrawal processes
Go to BDSwiss

Overall Conclusion - An established and reliable trading platform

As you can see from this BDSwiss review, it is one of the more established trading platforms available to UK traders. Having launched in 2012, the company has a long record of operating.

It is authorised for operation across the EU, EEA and UK by CySEC and for global operations by several other regulators. It’s also got security provisions that appear strong.

Fees, spreads and commissions are competitive, with no fees applied to deposits or withdrawals. BDSwiss crypto and forex trades are commission free, though shares, and indices do incur fees.

You’ll see from our detailed BDSwiss crypto review that you won’t own any of the cryptocurrencies you trade through this broker, instead, you’ll have the option to bet on price fluctuations.

If you’re happy with this set up, then BDSwiss is definitely worth trying out. However, if you’d prefer to own the underlying assets that you trade on, you may want to look at some of the other cryptocurrency brokers.

80/100
Rating
BDSwiss Crypto
*****
Go to BDSwiss Crypto
Highlights
  • Easy to use trading platform
  • Huge selection of trading options
  • Quick withdrawal processes

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