BDSwiss Pros & Cons | Get Information at a Glance

Introduction

BDS or BDSwiss broker is one of the biggest brokers out there with over 1.5 million accounts and an average trading volume of $84 billion. It’s regulated by a lot of top regulators including CySE, NFA, FSC, and more. BDSwiss was initially founded in 2012 and has over 9 years of experience. It offers a variety of trading instruments including forex, CFDs, shares, and commodities. The biggest advantage that BDS has is the Ultra-Low spreads and commissions among the competitors. BDS also offers good research tools as well as educational materials for its clients.

In this article, we’re addressing the main pros and cons of BDSwiss in each broker aspect.

FAQs

1. How long does it take to verify my account?

• It takes about 1 to 2 business days to verify your BDSwiss account.

1. Can I open more than one trading account?

• Yes, BDSwiss allows up to 5 different trading accounts, 3 Classic, one VIP, and 1 Raw account.

1. Does BDSwiss allow bot trading?

• No, it does not.

1. Does BDSwiss give a bonus?

• Yes, BDSwiss offers a %30 bonus of your first deposited amount up to $500. This offer is available within the first 30 days from your registration time. You can also check the Terms and Conditions of the Bonus Campaign.

1. Does BDSwiss allow hedging?

• Yes, it does, but it does not allow scalping.

1. Does BDSwiss provide the swap-free option in my account?

• Yes, it does.

1. How do I log in using the MT4 mobile platform?

• Steps:

1. Go to ‘Settings’

2. Click on ‘Manage Accounts’ or ‘Settings’

3. Then click on the small plus sign or select ‘New Account’

4. Then select ‘Log in to an existing account

5. Search for the broker name

6. Select the server your account was set up on

7. Enter your login credentials and password

8. Click on ‘Sign In’

1. When trading forex, will you lose more than your initial deposit?

• Both our MetaTrader 4 and BDSwiss platforms are set to automatically close your positions when your margin requirement reaches 100% (stop out level).
• Please note that this process is automated and is not a guarantee that your account will not enter into a negative equity situation and you should keep a balanced amount in your account above your required margin.

1. Can I log in to more than one account from the same computer?

• Yes, you can do such a thing by using the MT4 Multi Terminal.

1. Can I log in to the same account through different devices?

• Yes, you can log in to the MetaTrader 4 platform using the same password and username through different devices.

1. Does BDSwiss accept payments from third parties (my friend)?

• In case you make a deposit using a card/bank account that is not in your name, we require additional documents to be provided before allowing you to use these funds in trading. In case you are already trading with these funds, you have up to 10 days from the date of the deposit to provide us with the necessary documentation, otherwise, your account will be suspended from trading (irrespective of whether there are open positions or not).
• The required documents in this case are:

1. Your verification documents
2. Third party’s Identification Document (such as Passport or ID Card)
3. Authorization letter, completed and signed by both (can be emailed to you by the Customer Support Team)
4. Copies of the used card

• Please be aware that it remains at BDSwiss’ discretion to accept or reject such deposits if we are not satisfied with the provided documentation and/or any other reasons.

1. Can I open a joint account at BDSwiss?

• To open a joint account with BDSwiss, each person must first open an individual BDSwiss account and then fill a Joint Account Request Form which can be obtained by contacting the Customer Support Team at support@bdswiss.com. Both individuals have to ensure to proceed with successful verification of their respective individual accounts before the merge will be possible. This includes but is not limited to, provision of KYC documents, completion of Appropriateness test, and Economic profile.

1. How to use two-factor authentication and activate OTP on the MetaTrader (MT4/MT5)?

• Step 1: Download the MetaTrader App on your device, if you aren’t already using it

Step 2: Log in to the app using your account number and password. You will find your trade account login number on your BDSwiss web dashboard.

Step 3: Once the MT4 or MT5 mobile application launches, tap on the one-time password (OTP) generator option in the Settings window.

Step 4: In the window that opens, select “Bind to account”, specify your MT4 or MT5 desktop account details as requested, and keep the Bind option enabled.

Then, You can now use (OTP) generator to enter a unique one-time six-digit password whenever you log in to your desktop MT4 / MT5 platform.

1. Can I deposit using a corporate credit card/account?

• If you are the director and sole shareholder: The deposit can be processed, after supporting documents have been provided. Supporting documents include: extract from Business Registry confirming the sole ownership and directorship and shareholder structure, your verification documents, and copies of the used card. In case of a withdrawal, the funds must be sent back to the same card account as that which made the initial deposit.
• If you are not the sole owner of the company or are just an authorized person acting on behalf of the company: The deposit can be only processed if you proceed with the conversion of your individual account to a corporate BDSwiss account and if you did not fund your account using any other payment option/account.

1. Why can’t I open a BDSwiss account?

• You can’t open an account on BDSwiss if one or more of the following conditions apply:

1. I am a U.S. citizen (including dual citizen) or resident
2. My birthplace is in the U.S.
3. I have a current U.S. mailing or residence address (including a U.S. post office box or U.S. “in-care-of” address)
4. I have a current U.S. telephone number
5. I have standing instructions to transfer funds to an account maintained in the United States
6. I have currently effective power of attorney or signatory authority granted to a person with a U.S. address
7. I have an “in-care-of” or “hold mail” address that is the sole address for the Account Holder. The Investor needs to note that in the case of a Pre-existing Individual Account that is a Lower Value Account, an “in-care-of” address outside the United States is not to be treated as U.S. indicia.
8. I possess a U.S. TIN (hereafter “Tax Identification Number”).

If you want more information, please check out BDSwiss Full Review.