Contents
- 1 BDSwiss Basics
- 2 Our Opinion About BDSwiss
- 3 Key Benefits
- 4 Regulation And Safety
- 5 Regulation In Nigeria
- 6 Fund Safety
- 7 Industry Awards
- 8 BDSwiss: Legit Or Scam
- 9 BDSwiss Trading Assets
- 10 Trading Instruments
- 11 BDSwiss Account Types
- 12 Classic Accounts
- 13 Cent Accounts
- 14 Raw Accounts
- 15 Premium Accounts
- 16 VIP Accounts
- 17 Demo Accounts
- 18 Islamic Account
- 19 BDSwiss Leverage
- 20 BDSwiss Spreads
- 21 Commission
- 22 Base Currencies
- 23 BDSwiss Registration – How To Open An Account
- 24 BDSwiss Registration – How To Verify An Account
- 25 BDSwiss Payment Methods
- 26 Minimum Deposits
- 27 BDSwiss Trading Platforms
- 28 Trading Tools
- 29 Education and Research
- 30 BDSwiss Trading Hours
- 31 BDSwiss Customer Support
- 32 Our Verdict
- 33 BDSwiss Forex Broker Review – FAQs
- 34 BDSwiss Forex Broker Review – Similar Brokers
BDSwiss Basics
| 🏛️ Based in | Limassol, Cyprus |
|---|---|
| ⚖️ Regulation | CySEC, FSA, FSC |
| 💰 Minimum Deposit | $10 (4000 Naira) |
| 💳 Deposit Options | Crypto, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, WebMoney, Bank Wire |
| 💳 Withdrawal Options | Crypto, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, WebMoney, Bank Wire |
| 📌Open an account | Start Trading with BDSwiss |
Our Opinion About BDSwiss
BDSwiss is one of the most popular forex brokers in Nigeria. The company was founded in 2012 and has become one of the biggest names in the industry. BDSwiss offers retail and institutional clients access to its trading platform and supports more than 30 different currency pairs.
Its primary focus is on making it easy for its clients to invest their hard-earned money without hassle or stress. It also offers a range of educational courses and webinars that will help you learn more about the financial markets, investing strategies, trading techniques and many other things that can help you become a successful trader or investor. BDSwiss also provides a full suite of digital currency services, including Bitcoin trading, Ethereum trading and Litecoin trading.
The company has a wide range of financial instruments, including Forex, CFDs and Shares. BDSwiss also offers services such as MT4 and MT5 trading platforms, mobile trading apps and live chat support – all of this makes it one of the best online forex brokers on today’s market!
Key Benefits
Regulation And Safety
BDSwiss is a regulated forex broker with licences from top-tier financial authorities. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Federal Financial Supervisory Authority (BaFin) of Germany. BDSwiss is also regulated by the Financial Services Commission of Mauritius (FSC) and by the Seychelles Financial Services Authority (FSA).
The FSA was established in 2004 as an independent regulatory body that imposes obligations on entities within Seychelles. It ensures companies comply with rules governing their business activities, whilst also protecting consumers from fraud or market abuse.
Regulation In Nigeria
Forex traders in Nigeria can open trading accounts with the BDS Ltd business entity which is authorised and regulated by the Financial Services Authority (FSA) Seychelles. The FSA typically offers less oversight than regulators in the UK, EU and Australia. It also has less strict regulatory requirements in terms of client fund protection, negative balance protection, leverage restrictions, and advertising promotions.
That said, the BDS Ltd business entity still offers an excellent online trading service and high levels of client fund protection. Additionally, BDSwiss’ other subsidiaries are regulated by some top-tier authorities, including CySEC and BaFin, and offer its clients account statements that are regularly audited by external audit firms.
Fund Safety
BDSwiss is a regulated broker. It offers segregated accounts, meaning that client funds are held by an independent third-party bank or institution, guaranteeing that your money is safe even if BDSwiss went bankrupt. It also offers negative balance protection. This is a huge benefit for Nigerian traders who have a lot of money at stake and who want to minimise the risk of their account balance falling below zero.
Industry Awards
BDSwiss has been awarded several industry awards, including:
- Best Trading Conditions 2020’ by World Finance
- Best FX Research & Education Provider 2021’ by World Finance
- Best Partnership Program 2020’ by Global Banking & Finance Review
BDSwiss: Legit Or Scam
BDSwiss is a legitimate forex broker. They have been offering online trading services for many years and have a big, international clientbase. They are regulated by some of the strictest financial authorities in the world and operate in line with all the required regulations. In terms of their trading services, they have a nice choice of account types and trading conditions, and offer low minimum deposits. They also have a good range of payment methods and a high level of client fund protection. In our opinion, they are a reliable and trustworthy forex broker.
BDSwiss Trading Assets
BDSwiss offers over 200+ trading instruments, including forex, options and CFDs. This is a small range of instruments compared to some other forex brokers. However, it is a big enough range for new traders to create well-balanced trading strategies.
Trading Instruments
- Forex: BDSwiss has 50+ forex pairs available including majors, minors, and exotic currency pairs. The leverage is up to 1:500 on forex pairs.
- Share CFDs: BDSwiss has 141 share CFDs including popular stocks on the US, EU, Asian, and UK stock markets. The leverage on is up to 1:5 on shares CFDs
- Indices: BDSwiss has 10 index CFDs including popular indices from the US, EU, Asian, and UK stock markets. The leverage is up to 1:100 on index CFDs.
- Commodities: BDSwiss has 6 commodities including metals such as gold and silver, and energies such as oil. The leverage is up to 1:200 on commodities.
- Cryptocurrencies: BDSwiss has 25+ cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. The leverage available is up to 1:5.
BDSwiss Account Types
There are many different types of trading accounts available on BDSwiss, many of which come with low minimum deposits. As such, you have many options to choose from depending on your initial capital, trading needs, and trading strategies.
| Type | Spreads | Min. Deposit | Max. Leverage | Commission |
|---|---|---|---|---|
| Classic | From 1.5 pips | $100 | 1:30 | $0 |
| Cent | From 1.5 pips | $10 | 1:30 | $0 |
| Raw | From 0.0 pips | $500 | 1:30 | $5 per lot |
| Premium | From 1.1 pips | $5000 | 1:500 | $0 |
| VIP | From 0.1 pips | $3000 | 1:30 | $0 |
Classic Accounts
This is their main account option. It is a great choice for new forex traders in Nigeria. It comes with many features including free trading support. It also comes with no deposit fees, ultra-fast execution, minimum slippage, and high leverage. The average spreads start from 1.5 pips. The minimum deposit is $100 and the available base currencies include USD.
Cent Accounts
This is their second account option. It is another great choice for new forex traders in Nigeria. It comes with many features including free trading resources. It allows Nigerian traders to trade in cents (exclusive to specific regions). The average spreads start from 1.5 pips. The minimum deposit is $10 and the available base currencies include USD.
Raw Accounts
This is their third account option. It is a great choice for intermediate forex traders in Nigeria. It comes with many features including free trading resources. It comes with tight spreads from 0.00, fixed commission of $5 per lot, an average spread of 0.03, dedicated support, premium trading tools, and a minimum deposit of $500.
Premium Accounts
This is their fourth account option. It is a great choice for intermediate forex traders in Nigeria. It comes with many features including competitive trading costs. It offers higher leverage of 1:500; spreads as low as 1.1 pips; zero commissions on 70+assets. The minimum deposit is $5000 and the available base currencies include USD.
VIP Accounts
This is their final account option. It is a great choice for professional forex traders and Nigerian traders with higher initial capital. It comes with many features and exclusive trading tools. It also comes with high volume trading, no commission on indices, and free Telegram trading alerts. The minimum deposit is $3000 and the base currencies include USD.
Demo Accounts
BDSwiss also offers a demo trading account. This is great for so many reasons. Firstly, with a demo account you can improve your trading skills and familiarise yourself with different trading strategies. Secondly, with a demo account, you can get a feel for the Forex market and what trading is all about. This is very important for new Nigerian traders, especially if it’s your first time trading. Demo accounts use virtual funds and mimic live trading.
Islamic Account
All of the BDSwiss accounts are available as Islamic Accounts, and you can choose this option when opening your online trading account.
BDSwiss Leverage
BDSwiss offers a standard leverage of up to 1:500 on all its trading accounts. The leverage available varies depending on your chosen trading instrument.
BDSwiss Spreads
BDSwiss spreads are average for the industry. The minimum spread on EUR/USD starts at 1.5 pips on the Classic account, 1.5 on the Cent account, 0.3 on the Raw account, 1.1 on the Premium account, and 1.0 on the VIP account.
Commission
BDSwiss commissions are fairly low, and overall, fairly average for the forex industry. There is spread-only trading on the Classic account and the VIP account. There is also zero commission trading on the Cent account and the Premium account. There is a small commission of $5 per lot on the Raw account.
Base Currencies
At BDSwiss, you can only choose from three base currencies: USD, GBP, and EUR. This means that Nigerian traders, who are likely to have NGN bank accounts, will often have to pay conversion fees on all BDSwiss deposits andBDSwiss withdrawals.
BDSwiss Registration – How To Open An Account
As part of our BDSwiss review, we looked at their online registration requirements. If you live in Nigeria, then you are eligible to open an online trading account at BDSwiss under their FSA subsidiary. The registration process is quite simple. The first step is to register online. This is so that BDSwiss can gather some basic personal data and create your account. At this stage of the registration process, all you need to do is choose an email address and password. These will be your login details.
The next step is to take a short test about online trading. This is so that BDSwiss can determine whether their online trading services are suitable for you. At this stage, all you need to do is show BDSwiss that you have the skills and knowledge needed to trade properly. If you pass the test, you will be fully registered and ready to open an account. The final step is to complete the KYC process, submit your documents, and choose your preferred account type. This is so that BDSwiss can process your trades.
BDSwiss Registration – How To Verify An Account
As part of our BDSwiss review, we looked at their account verification requirements. To open a live trading account you’ll need to show BDSwiss a proof of ID and a proof of address. This is so that they can check your identity and verify your account. The account verification process is simple. You can provide copies of your National ID card, Passport or Driving License . You can also provide copies of a utility bill or a bank statement registered in your name. After you have verified your account, you can add funds and start trading.
BDSwiss Payment Methods
BDSwiss offers a variety of deposit and withdrawal options, including Visa and Mastercard, Maestro, Sofort, Giropay and EPS. You can also make deposits using Neteller or Skrill. BDSwiss minimum deposit is $10. Deposits are processed within 24 hours of receipt at no cost to you. BDSwiss withdrawals are instant up to $2000. Withdrawals are sent directly to your bank account (or e-wallet) in less than five minutes after making the request. However, this can depend on the time of day when it was submitted.
Minimum Deposits
The minimum deposit depends on your account types. The lowest available BDSwiss minimum deposit is $10 – forCent accounts only.
BDSwiss Trading Platforms
The company offers a wide variety of trading options, including MetaTrader 4 (MT4) and Metatrader 5 (MT5) platforms that work on desktop computers and mobile devices like smartphones and tablets. BDSwiss’s primary goal, when it comes to trading platforms, is to provide its customers with easy access to their accounts and trade history through various platforms. This allows them to monitor their performance easily, manage their risk level, make trading decisions and take action.
- MetaTrader4 – MetaTrader4 (MT4) is the world’s leading trading platform for new forex traders. It has a very user-friendly interface and comes with many handy, built-in trading tools. You can use it to trade all of the most popular and liquid trading instruments including forex, stocks, and indices. The BDSwiss MT4 trading platform has helpful charting tools, 4 order execution types, 30 technical indicators, and 23 analytical objects. You can use the tools to work on your market analysis and your trading strategies.
- MetaTrader5 – MetaTrader5 (MT5) is also a popular online trading platform for beginner traders in Nigeria. It has an easy-to-use interface and comes with lots of helpful trading tools. You access and trade all of your favourite markets including forex, shares, and crypto. It is very easy to navigate. The BDSwiss MT5 trading platform also has many great features including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has slightly more functionality than MetaTrader4 and offers you more analysis tools.
Trading Tools
The BDSwiss trading platform is one of the most advanced on the market. It provides traders with a wide range of tools, including charting, trading and analysis. The company’s proprietary analytical engine uses artificial intelligence to identify market trends before they occur, allowing traders to react quickly and make accurate predictions. The firm’s Trader Workstation is an advanced platform that allows traders to analyse historical data and set their trade triggers. Its platform also features a live streaming function that allows users to follow their trades in real-time.
- Charting – The charts are clean and easy to read at a glance, while they also support multiple timeframes. You can adjust the time frame from 1 minute to 15 minutes or even longer if you want to move into the future.
- Market Analysis Tools – BDSwiss also offers an integrated news feed that gives subscribers access to market analysis reports. These reports help traders identify price trends before they happen.
- Expert Advisors – BDSwiss allows the use of expert advisors(EAs) on its platform. These will help you make better trading decisions based on your risk profile, technical analysis and other factors. Several macro strategies are also available in this area that is worth exploring!
- Copy Trading – The copy trading feature also allows you to follow other traders pursuing similar strategies and tactics as yours. This way, you can track how much money you could make by copying their system.
Education and Research
As part of our BDSwiss review, we looked at what educational resources are available for new traders. BDSwiss offers a wide range of educational resources for traders of all experience levels. The company hosts webinars, e-books and video courses that can be downloaded or streamed online. The Trader Academy aims to help you develop your trading skills through live training sessions with experienced forex brokers worldwide. You’ll learn how to trade different markets, use technical indicators effectively and much more!
BDSwiss Trading Hours
BDSwiss operates during standard trading hours. You can open trades whenever the forex market is open. Trading hours may vary on public holidays.
BDSwiss Customer Support
As part of our BDSwiss review, we looked at what customer support is available for Nigerian traders.. BDSwiss has a pretty good track record when it comes to customer service. They offer email and phone support 24/7, along with live chat on their website. This could be a practical option if you need help immediately and don’t have time to wait for an email response. As far as live chat goes, they are very responsive and professional when answering your questions.
Our Verdict
BDSwiss is the exclusive forex broker in Nigeria. BDSwiss is among the best and most popular forex brokers in today’s market. The company has been around for several years and provides excellent educational courses in addition to its unique and stable trading platform, which allows you to trade hundreds of instruments. BDSwiss also enables its traders to use MT4, MT5, web trader terminal, smartphone app or any other tools they want when they are trading.
BDSwiss Forex Broker Review – FAQs
Yes, BDSwiss in Nigeria is a good broker. They have a nice selection of account types, some of which have very low minimum deposits. BD Swiss has many trading instruments including forex, stocks, indices, and commodities. They also offer very good trading platforms and excellent online trading conditions.
Yes, BDSwiss in Nigeria is a legit forex broker. They are an international company with offices in key locations around the world. In terms of their services, they offer great trading accounts, fair trading costs, and helpful trading tools . Furthermore, BD Swiss has a good selection of payment methods and offers a fast, smooth withdrawal process. In our opinion, they are a legit forex broker.
Yes, BDSwiss in Nigeria is a regulated broker. They have licences from top-tier financial authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Federal Financial Supervisory Authority (BaFin) of Germany. They also have registrations with other reputable financial authorities, including the Financial Services Commission of Mauritius (FSC) and the Seychelles Financial Services Authority (FSA).
Yes, BDSwiss in Nigeria is a safe forex broker. When it comes to fund safety, they choose to go beyond their basic regulatory requirements, and offer more comprehensive client fund protection measures. BD Swiss keeps all client funds in segregated accounts, separate from its operating capital. This means that they can never use client funds for their own operational purposes. In our opinion, BDSwiss is a safe company to trade with.
Yes, you can trust BDSwiss in Nigeria. BDSwiss is one of the most well-known brokers in the forex industry. The company was first set up in 2012 and has been offering online trading services for many years. They are a large, international forex company with clients worldwide. They are very popular and have won many forex awards.
Yes, BDSwiss in Nigeria offers good live trading accounts. You can choose from the BDSwiss Cent Account, Classic Account, Raw Account, Premium Account, and VIP Account. They also offer demo accounts and Islamic swap-free accounts.
Yes, BDSwiss does have a Micro account. The BD Swiss Micro account has a low minimum deposit of just $10, making it a good option for new traders. It also has good trading conditions, including high leverage, tight spreads, and fast trade execution
No, BDSwiss in Nigeria does not offer Naira accounts. Having an Naira trading account can be very helpful for forex traders with Naira bank accounts. This is because it means you won’t have to pay conversion fees on your deposits or withdrawals. The next best option for Nigerian traders is dollar accounts.
Yes, BDSwiss in Nigeria has good spreads. The BDSwiss broker spreads available depend on your account type. The minimum spread on EUR/USD starts at 1.5 pips on the Classic account, 1.5 on the Cent account, 0.3 on the Raw account, 1.1 on the Premium account, and 1.0 on the VIP account.
As part of our BDSwiss review, we also look at their minimum deposit requirements. BDSwissin Nigeria has several affordable account options. Their entry requirements are very low and the BDSwiss minimum deposit for the Cent account is only $10.
Yes, BDSwiss has cryptocurrency trading. You can choose from 20+ cryptocurrencies including Bitcoin, Cardano, and Ripple. BDSwiss crypto trading and BDSwiss Bitcoin trading are available on all accounts.
BDSwiss is one of the best forex brokers in the industry. They have great trading accounts with good trading conditions and low trading costs. They also have a wide range of trading instruments, trading platforms, and trading tools. However, if you want to look at alternative options, there are many great forex brokers as well. We recommend looking at HotForex, FXTM, FXPro, FXPrimus, and Instaforex.
BDSwiss offers a variety of deposit and withdrawal options, including Visa and Mastercard, Maestro, Sofort, Giropay and EPS. You can also fund accounts using Neteller or Skrill.
Yes, BDSwiss is good for beginners. They have several account options, all of which come with good trading conditions and low trading costs. They also have a large selection of trading tools and educational resources. For example, Nigerian traders who want more help with their trading can choose to join the BDSwiss Trader Academy, to learn new skills and strategies.
Ready to start trading? Visit the BDSwiss site to register for an account.
BDSwiss Forex Broker Review – Similar Brokers
BDSwiss is a great choice for Nigerian traders. However, if you want to see your other options, there are also many other forex brokers in Nigeria. Here are some similar brokers.
Still deciding? Take a look at some of our other forex broker reviews.