However, keep in mind that mobile apps are best used as helpers and not as a main trading tool. It’s recommended to analyze the markets using computer screens. Both MT4 and MT5 are very popular, and there are a large variety of trading algorithms for both.
The broker is not strictly regulated, offers standard trading platforms, and an average number of tradable assets. On the upside, traders can start trading from as low as $10 and there are 4 types of accounts to choose from. The large variety of account types is aimed at different types of traders. BDSwiss gives traders access to Forex, commodities, indices, cryptocurrencies, and shares as CFDs. There are no physical stocks or cryptos available with this broker. CFD trading is a leveraged activity and is mainly for fbs broker review short and medium-term speculators.
- To prevent this from happening, the broker uses automatic Stop Out levels.
- The large variety of account types is aimed at different types of traders.
- However, MT4 remains the most popular trading platform even today due to its ability to perform masterfully.
- BDSwiss is an international broker offering financial services to more than 1.5 million registered trading accounts.
BDSwiss review – a broker with a variety of account types
There are 51 Forex pairs offered by this broker and includes all majors, many minors, and some exotics. Major pairs are currencies from global economies such as Europe, the USA, Canada, Japan, New Zealand, Great Britain, Australia, and Switzerland. One part of the Major currency pair is always the US Dollar. The second part is always one of the major currencies mentioned above. We’ll break down and analyze in detail each account type to aid you in picking the one that best suits your needs.
CFD trading enables traders to earn money from trading in any direction, without physically owning the asset. In order to open the VIP account, at least $500 is needed. Commissions differ in terms of the asset class, with $0 on all pairs, $0 on indices, and 0.15% on shares. This account type is suitable for position and swing traders. CFDs stand for Contract For Difference, and traders exchange them to get short-term benefits.
Deposits & Withdrawals Made Easy & Fast
Traders can email them or chat live straight from the company’s webpage. Traders can also call the regional offices to receive professional consultations or just speak to someone directly. After you verify your account, you can deposit money to your trading account and start placing orders. Keep in mind that some deposit options such as online wallets and credit/debit cards are instant, while bank wire transfers take a couple of business days to clear.
For instance, if you are going to purchase a US Dollar against Canadian Dollar, it would be a good idea to take a look at whether the US500 index is in a downtrend or in an uptrend. The uptrend market is an indication that the US economy is doing well as the US500 (S&P 500) follows the performance of the top 500 US companies’ publicly traded stocks. Indices are a type of asset that shows how a basket of company shares performs.
The broker asks for proof of residence and proof of identity from you. For proof of identity, any type of government-issued document that clearly states your personal information is valid. For instance, you can upload a digital photo or scanned version of your passport, ID card, or driving license.
Mobile Trading on BDSwiss
By pressing the button, you’ll be transferred to the registration page. The broker asks you to provide your personal information and choose a trading platform. When it comes to spreads, the Euro and US Dollar pair has the smallest spread. The reason is that the liquidity is the highest in EUR/USD. With BDSwiss, spreads differ based on which account type you use.
Long term investors that like to buy and hold investments for years prefer physical stocks and physical precious metals. The reason is that CFD traders are questrade review charged rollover fees that are used to keep positions open overnight. These fees are very small, however, over a large period of time they can accumulate. However, physical stocks are not available for trading with this broker. CFDs enable short and medium-term speculators to benefit from price moving in any direction without owning the actual asset. The Classic account has similar initial deposit requirements to the Cent account.
Physical stocks, on the other hand, are only profitable when investors buy low and sell high. BDSwiss is authorized and regulated by the Financial Services Authority of Seychelles. BDSwiss grants access to trading 134 company stocks as CFDs. Spreads start from 0.1 pips and commissions on average are 0.15%. BDSwiss offers access to about 250 tradable assets through different asset classes, including Forex, commodities, indices, cryptocurrencies, and shares as CFDs.
Five Asset Classes to Diversify your Portfolio
Combining deep liquidity, cutting-edge execution and reduced spreads, BDSwiss delivers industry-leading trading conditions, recognized by renowned international awarding bodies. Benefit from scalable and cost-efficient CFD trading ona wide range of global markets. In order to better understand the differences between BDSwiss’ and other brokers’ pricing models, let’s compare the numbers.
The fact that the platforms are so old and super popular, explains why there are so many algorithms developed by traders that you can access from the Meta market. Indices can be traded as CFDs, however, they have one more usage. As mentioned above, they show the performance of certain markets or industries. Even if traders do not trade indices as CFDs, they still keep an eye on them to figure out the state of the market.
The mobile app of BDSwiss can be installed on both apple and android devices. MetaTrader 4 was released in 2005 by the Russian software giant MetaQuotes Corp. The platform hasn’t changed much since, and it looks very outdated. However, MT4 remains the most popular trading platform even today due to its ability to perform masterfully. The MT4 is also very simple, and most beginner Forex traders choose to use it over MT5, which is a bit more advanced. In the top right corner, you’ll be able to see a sign-up button.
What account types do you offer?
The broker provides a wide range of educational material and good customer support. A Cent account can be the next step for a trader transitioning from a demo account to a live trading environment. The minimum initial deposit to open a Cent trading account is only $10. Commissions are 0, however, spread markups are very high. For each trade, the broker uses a 1.5 pip spread markup. In addition, Cent accounts are very limited in terms of tradable assets.
