BDSwiss Review

BDSwiss started operating in 2012 and is currently regulated by a financial authority. They require a low minimum deposit and a low minimum trade size but are this enough reasons for you to sign-up with this broker? Let’s look at the facts to find out:

Advantages
1. Low minimum trade size
2. Low minimum deposit requirement
Disadvantages
1. Refunds for losing trades are not very high
2. Platform takes time to load
3. Tradable assets too few
4. Published payout rate is different from actual rate in platform

 

Read the Bottom Line!

 

(5/5)

Minimum Deposit

The minimum deposit requirement is just $100, lower than most of the brokers today are that follow a standard minimum deposit of $250. It’s an advantage for those who want to start with a low capital.

 

Minimum Deposit

EZTrader ($200)
anyoption ($200)
BDSwiss ($100)
24option ($250)
Finpari ($250)
TopOption ($100)

 

(4/5)

Design and Layout

BDSwiss generally uses the same layout that is used by majority of the binary brokers today but with additional unnecessary elements particularly on the right column on the main trading interface. This makes browsing a bit inconvenient for their users and adds more data usage which increases the overall loading time.

BDSwiss platform design

(5/5)

Banking Methods

They accept credit cards, wire transfer, Maestro, Sofort, Paysafecard, Ukash, Giropay and EPS for banking which is at par with what most brokers accept for transferring and withdrawing funds. It would have been better though if they added more common payment methods like PayPal.

(5/5)

Minimum Trade

A minimum investment size of $5 is accepted for every trade that you make on their platform. This is the same with majority of brokers in the market today require the same amount for each binary trade.

 

Minimum Trade

EZTrader ($25)
anyoption ($25)
BDSwiss ($5)
24option ($24)
Finpari ($1)
TopOption ($5)

 

(3/5)

Available Assets

There are less than 70 assets that are available for you to trade online. It’s shorter than the average total number in the market today which is 76 so if you want to expand your portfolio or explore more trading opportunities then this certainly a drawback.

BDSwiss assets

 

Available Assets

EZTrader (91)
anyoption (97)
BDSwiss (68)
24option (104)
Finpari (151)
TopOption (180+)

 

(9/10)

Trading Platform

Along with 12% of the brokers in the market, the platform that they are running is the updated Spot 2.0 version which gives them the power to add more trading instruments add more features. Although the technology itself is advanced, BDSwiss needs to further fine-tune and optimize the software because the loading time takes a lot longer that it should.

BDSwiss platform

(6/10)

Quotes

And since the platform takes a lot longer to load, the quotes that they show on the interface are also affected and this is a major disadvantage especially when they are quick market movements. Based on the several tests that I made, a lot of the market prices were delayed and has gone beyond the 20-minute benchmark.

(7/10)

Payout Rate

Based on their website, the highest payout rate that they offer is 85% but after checking out all the assets on the platform, most are only giving out below 80% which is significantly lower than 33% of brokers today that offer the standard payout rate of 85%.

BDSwiss payout rate

 

Payout Rate

EZTrader (81%)
anyoption (75%)
BDSwiss (85%)
24option (88%)
Finpari (90%)
TopOption (85%)

 

(8/10)

Withdrawal Processing Time

At BDSwiss, the waiting time for processing a withdrawal request can take up to 7 days but which is the same with 17 % of the brokers in the market today than can achieve the same speed.

BDSwiss withdrawal processing time

 

Withdrawal Processing Time

EZTrader (Up to 7 days)
anyoption (Up to 7 days)
BDSwiss (Up to 7 days)
24option (Up to 3 days)
Finpari (1 day)
TopOption (Up to 7 days)

 

(6/10)

Customer Service

Aside from providing accurate answers and solving client issues, speed is an additional necessity when we talk about customer service. At BDSwiss, the support team can be contacted via phone, live chat or email. I tried reaching them via phone but the lines are always busy so I tried to communicate with them via live chat. Unfortunately, they seem to be very short on customer service agents as I had to wait for more than 30 minutes before I was able to chat with one of their support staff.

Overall, my experience with their support team was disappointing and this is definitely lower than the quality of service that more competitive brokers can deliver.

BDSwiss customer service

(10/10)

Regulation

BDSwiss joins the 41% of brokers that are monitored by a trusted financial regulator. Currently, they are licensed by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA). This basically means that they are following the standards that are imposed by these supervisory bodies.

BDSwiss regulation

(12/15)

Brand Reputation

Knowing that BDSwiss is regulated adds a bit of peace of mind to traders but the growing number of negative feedbacks about this broker regarding withdrawal delays and unpaid payouts are certainly alarming. These kinds of issues need to be resolved immediately because it badly affects their reputation which is currently a tad lower than the standards.

Our verdict (80/100)

BDSwiss does offer a low minimum deposit and trade size requirement but there are some other factors that could hinder traders from choosing this binary options broker. The slow trading platform is a major disadvantage and the limited number of tradable assets can be a turn-off for those who want to expand their trading portfolio. And when it comes to customer support, they need to improve a lot in order to match the industry standards.

We highly advise that you register with a more established binary options broker such as 24option for a more rewarding and secured trading experience.
Read 24option Review! ►

14 Responses

  1. Damon
    Damon at |

    BDSwiss definitely needs a lot of improvements. The trading platform is extremely slow and the loading time takes forever! What’s happening with this broker?

  2. Kyran S
    Kyran S at |

    Been reading a lot of complaints about them. They need to step it up!

  3. Aaran F
    Aaran F at |

    Terrible support. I tried to talk with their support department but the lines are always busy.

  4. Kade Hill
    Kade Hill at |

    The Minimum deposit at BDSwiss is only €100, which is one of the lowest for a European licensed broker.

    1. Phillipp Krüger
      Phillipp Krüger at |

      The minimum deposit is so minimal, it could help a lot of traders who are just starting to take their stake with online trading.

  5. Tobias Hansen
    Tobias Hansen at |

    The support staff was not really that good in handling some resolutions for their clients. They are truly Ineffective in so many ways.

  6. Jenny Andersen
    Jenny Andersen at |

    I don’t like how they handle my withdrawal request, they made me wait for more than 2 weeks.

    1. Joe Bailey
      Joe Bailey at |

      The withdrawal request from them take weeks and months to finish. I actually got tired of asking for follow up request.

  7. Donna Mitchell
    Donna Mitchell at |

    This broker is very consistent in giving bad services to their clients.

    1. Harry Vance
      Harry Vance at |

      My friend who traded with them have a long list of grievances regarding this poorly operated broker.

  8. Owen Gray
    Owen Gray at |

    I need to repeat the warning that this broker known as BDSwiss is not really the kind of broker you want to deal with. If you want to be like those who quibble about their shortcomings then do register with them.

    1. Paris Lytle
      Paris Lytle at |

      Even if you had written a lot of warning against this broker, there are still lots of new traders who are going to sign-up with them because they have this really nice name and marketing.

  9. Delmer Okeefe
    Delmer Okeefe at |

    I was trying to contact the live chat of bdswiss because I was having trouble with my trades, the frame or the platform keeps on freezing, and I am losing such precious data for my trading. How can this people be of help in time of distress?

    1. Graig Loveless
      Graig Loveless at |

      I am so disappointed to inform you that it is always hard to stay contact with the people of bdswiss

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