In this article we are going to take a detailed look into the account types, features, as well as opening an account with the BDSwiss broker.
If you are interested in reading our BDSwiss review please follow the link, otherwise please go on to read about the various BDSwiss Account Types.
Table of contents
The BDSwiss demo account is a free trading account with absolutely no risk involved, meaning you can trade without the possibility of losing real money. With this type of account, there is no risk because it features only virtual money and replicates real market conditions. A lot of other platforms require you to enter a commitment to open a live account once the duration of your demo account has ended, but BDSwiss won’t tie you into any sort of commitment to open a live account. The only thing you need to consider is the BDSwiss demo account will only last 30 days.
BDSwiss Classic Account (Individual Account)
This particular type of account can be found on both the MT4 as well as MT5 platform, with access to over 200 types of assets. However the minimum deposit threshold for this account is $100, with spreads starting at 1.5 pips and no commission.
BDSwiss VIP Account
This type of account is also featured on both the MT4 and MT5 platform, with access to more than 200 assets to trade from. However, the minimum deposit threshold is $3000 instead of $100, but the spreads are slightly lower starting at 1.1 pips. There is also no commission included with this account and isn’t available as a demo.
BDSwiss Raw Account
The BDSwiss Raw Account is available on both the MT4 and MT5 platforms like the previous accounts, and again with access to over 200 different assets. With this type of account though, the minimum deposit threshold starts at $5000 with spreads starting at 0.0 pips. However, unlike the previous accounts there is a $5 commission per lot with the BDSwiss Raw Account. Unfortunately this account isn’t available for islamic traders, nor is it available as a demo.
BDSwiss InvestPLUS Account
This account is only available under the FSC regulated entity of the broker, and is only featured on the MT5 platform and not the MT4 platform. This account is different to the others as this one grants you direct market access, and offers more than 1000 stocks and ETFs as CFDs. Like the BDSwiss Raw Account, the minimum deposit threshold is $5000 but with commissions slightly lower at $0.1 per lot.
BDSwiss Islamic Account
Available for islamic traders and is available on request. This account has no swap fee and is only available as an individual account. There is also an administration fee incurred on positions that are open for longer than 10 days.
BDSwiss Professional Account
In order to be eligible for the BDSwiss Professional Account you need to achieve 2 out of 3 of the following requirements:
You must have made an average of 10 transactions of significant size per quarter in the past year.
You must have a financial instrument portfolio of over €500,000 in your bank or trading account.
You must possess a required amount of experience in the financial services sector.
Because this account is for experienced traders, the leverage capabilities are raised to 1:400 on major forex pairs.
BDSwiss Account Opening
Live Account Opening
The best thing to do before opening a live account is to open a demo account first, so you know what you are doing. It is advisable if you are just starting out, this way you can test various strategies and find out what works best for you. Once you are comfortable enough trading on a demo account you can then proceed to open a live account. Once you go through the process of opening the account you will need to verify your account and deposit the minimum amount as designated by your account type.
The account verification process is usually pretty fast for BDSwiss, but depending on the country you are from you may experience some wait times. Also depending on the country you’re from you will need the following documents:
Proof of Identity such as an ID or Passport
Proof of Residence such as a bank statement or utility bill
The main funding options for the BDSwiss platform are as follows:
Major Credit & Debit cards
eWallets such as PayPal, Skrill, Neteller
The main currencies supported by BDSwiss are as follows: Euro, U.S. Dollar, British Pound, Polish Zloty, Swiss Franc, Swedish Krona, Danish Krone, Norwegian Krone. Furthermore, Skrill only supports Euro, U.S. Dollar, British Pound and Swiss Franc. Whereas Neteller and Paypal only support the Euro.
The minimum deposit threshold is generally $100, but it can differ between the various types of accounts. The VIP account requires a minimum deposit of $3000, whereas the Raw account requires a $5000 minimum deposit.
The BDSwiss platform offers the following base currencies: Euro, U.S. Dollar, British Pound, and the Swiss Franc.
BDswiss Account Bonus
Unfortunately there is no bonus available on the BDSwiss platform.
BDSwiss Account Deposit & Withdrawal
When depositing money into your BDSwiss trading account, they will actually cover any fees that you may incur. However, it is advisable that you avoid depositing money that does not match one of the base currencies that were listed before. When it comes to deposit times, they are generally instant, but wire transfers may take up to 1-4 business days to reach BDSwiss, and once it does it is processed immediately.
When you want to withdraw money from your account, BDSwiss will cover any fees that you may incur. However, if you withdraw an amount less than $20 via a credit/debit card you will experience a $10 broker fee. The minimum withdrawal via a wire transfer is $100, which may take up to 24 hours to be processed.
BDSwiss Account Management
BDSwiss Account Inactivity
If you have created a demo account then the account will expire after 30 days of inactivity, but with live accounts they will expire after 90 days of inactivity. The inactivity fee is 10% of your account balance, with the minimum amount charged will be $25 and the maximum amount charged will be $4900 until the balance is 0.
BDSwiss Account Reactivation
Reactivating your account is pretty simple and you can do it any time you want. You must ensure that all your documents are still valid before proceeding.
How to close your BDSwiss Account
In order to close your BDSwiss account you first need to withdraw your funds and once you have done that you must log into your account on a PC or laptop and click, Settings > Privacy > Delete my account. If you have any difficulties deleting your account you can email the broker with a request to delete your account. It must be said that BDSwiss is required to maintain your account details for 5 years.
72.5% of retails investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
About the Author
Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world.
A trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.
He is a keen golfer with a very high handicap so when not helping you find the best broker for your needs, you may find him on the course or just as likely following any number of sports from the comfort of his sofa.
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