Is BDSwiss Scam? | BDSwiss Safety and Reliability

Pros

Cons

  • Over 1.5 million accounts
  • The average trading volume of $84 Billion
  • 10 years of trading experience
  • Regulated by NFA as well as CySEC
  • Negative balance protection
  • Client protection amounts
  • Not listed on stock exchange

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.

Is BDSwiss Regulated?

The BDSwiss broker is regulated by many financial authorities like:

  • NFA: National Futures Association in the USA
  • CySEC: Cyprus Securities and Exchange Commissions
  • FSC: Financial Supervisory Commission
  • BaFIN: Federal Financial Supervisory Authority
  • FSA: Financial Services Authority in the UK

On the other hand, BDSwiss is not regulated by the top-tier FCA, the Financial Conduct Authority, a very trusted regulator.

Is BDSwiss a Scam?

BDS has 10 years of trading experience and a trading volume of $84B. It has over 1.5 million active accounts on its platform and is regulated by top-tier financial authorities. On the other hand, BDS is not listed on the stock exchange.

BDSwiss was also awarded several awards along with its history that makes BDSwiss reliable.

Client Protection

Client deposits are protected under the Investor Compensation Fund (CIF), per EU Directive 2014/49/EU, up to a maximum of €20,000. Cross-border regulation across EU member countries applies.

Negative Balance Protection

BDSwiss has also negative balance protection in case anything wrong happens.

Two-step Verification

Luckily, BDSwiss has the two-step verification method while logging in.

BDSwiss Awards

Since its foundation in 2012, BDSwiss was awarded many awards like:

  • 2020:
  • BEST MARKET RESEARCH PROVIDER at the FxScouts Awards
  • BEST TRADING CONDITIONS at the World Finance Awards
  • BEST FX & CFDs PROVIDER at the International Investor Awards
  • BEST PARTNERSHIP PROGRAM ASIA at the Global Banking & Finance Awards
  • 2019:
  • BEST TRADE EXECUTION at the Global Forex Awards
  • BEST TRADING CONDITIONS at the World Finance Awards
  • BEST TRADING APP at the Mobile Star Awards
  • 2018:
  • BEST TRADING APP at the Mobile Star Awards

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. 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.



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