BDSWISS got itself registered as a supposed trading firm in 2012, and the broker somehow gathers the audacity to say that it has more than a million customers. This is a completely false statement since the supposed broker fails to provide any standby proof for the same.
BDSWISS also falsely mentions that it conducts a claim of more than $2 billion, but hardly satisfies it. The suspicious trading firm offers three trading accounts, one out of which has a considerably higher trading commission than what the market jurisdictions allow.
The broker mentions that it has been awarded repeatedly, for different categories. But what we could find, was that the awarding jurisdiction is keenly interested in illicit brokers. Brokers like Ava Trade have been awarded under some baseless category and BDSWISS itself hotels an award under a couple of categories.
When we dug a little more, we found out that thee awarding jurisdiction hands out at least 12 different awards watch year, out of which the bad broker bagged a few. Nevertheless, there are categories that the broker claims to have won under, but the awarding jurisdiction does not mention those precise titles anywhere on their own website.
BDSWISS Account types:
The illigitimate broker supposedly offers three trading accounts for one, out of which, the broker goes on to ask $5000 as a minimum deposit account. This does not seem fishy, and this IS fishy. Doubts about the firm’s authenticity are bound to happen. A trader who does not know a lot about trading, can not gather so much money in a single stretch. Besides, the broker does not provide anything special for such an extravagant amount of money asked.
For the accounts that do not have such a huge minimum balance requirement, the broker cuts of basic amenities from the trader. This is racism on economic terms and should not be tolerated at all. The broker should not be entertained any further by the trading community as a whole.
Commissions and spreads:
Each account when looked at, either has high commissions and when the commissions are not there, spreads fill in the picture. The brokerage firm also goes on to ask for spreads that are accounted for holding positions overnight. Traders who are looking at handsome profits on the next trading day have to loo at reduced profits because the broker eats up in between.
This is an unacceptable practice and suspicious brokers as we have researched, work on such practices in an unprecedented way. The average spreads for forex sometimes reach more than 0.45. This is way much more than what the market asks for. The broker at all the places makes sure that the trader is in a constant loop of making unnecessary payments.
When we talk about indices, the spreads are more than .200. Again, the broker is trying that the money it uses for tasks that are conducted outside the official loop comes out of the trader’s pocket.
BDSWISS Trading platform:
The broker confuses the trader by giving out chives between an advanced version of MT4 and a prior version. The broker doesn’t stop there, then it movies forward by advertising its own trading application and a web trading program. First off, the broker should ideally, eliminate the previous version of the same program because they fail to provide the trader with real-time and the correct statistical data.
These platforms had some issues with them and hence, were replaced by newer ones. These platforms miss out on crucial indicators and signals that a trader requires to make correct trades. The self-claimed trading application is yet another way to manipulate the trader and add on as much leads as possible. The broker nowhere fails to lure in innocent trad3ers and then take money out of their hard-earned income.
The broker claims that it provides the traders with customer support that is active five out of seven days a week. The remaining two days are when most of the traders indulge in trading activities. The broker deliberately misses out on such important days in terms of customer support.
The support is claimed to be an expert, but when we researched, it was found that the panel fails to answer straight queries. Plus, it took us so long to connect that the trading opportunity with which we had an issue, was long gone.
Such an irresponsible approach towards the associated raiders shows an idiotic approach that the broker seems to follow. Such brokers should never be entertained, and the community needs to ask them serious questions.
The broker offers trading in very less tradable assets as compared to the rest of the market. The broker bars the trader to trade on a variety of od cryptocurrencies, keeping only three of them as tradable options. In contrast with the recent GameStop revolution, the crypto market has seen a lot of volatility. Coins like Doge coins came above the plateau and have been filled with never seen before opportunities. The broker completely ignoring this fact, keeps its hands tied to bitcoin which is the costliest cryptocurrency ever.
The swap fees for most of the cryptocurrencies is kept a negative of 100%. This is a fraudulent practice that is happening right in front of everyone and we need to start asking serious questions to the broker before it reaches out to a level where it cannot be stopped.
BDSWISS safe or not?
The broker has nowhere stopped itself from committing practices that are unethical and out of the book expensive for a novice trader. The UI design of the website is sluggish and lags. The trading platforms offered are old and can not be trusted at all. We suggest our traders move their financials o more responsible brokers like HFTRading, ROInvesting, Global Trade ATF etc who have been in the market for a very long time and have come out as legitimate brokers over time.
Frequently asked questions:
Can I lose my money while trading with BDSWISS?
YES. Focus on th case of the three letters and act accordingly.
Where else can I trade?
There are plenty of options to take the financials elsewhere. The trader can look at HFTrading, GlobalTrade ATF, Roinvesting and a few more of such legitimate brokers. They have been providing extra services such as negative balance protection for an amount way less than a doubtful broker BDSWISS.
What are other things that I need to keep in mind :
First things first, please make sure that the broker you are trading with is not a scam. Do the appropriate research.
Secondly, rather than relying on the broker for capital, make sure you are not trading in a market that you have not been in before. Be in a certain zone. Being at a single place for a long time makes a person used to the surroundings. The same definition goes for trading as well.
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