BDSwiss vs SimpleFX - Fees Review included
Which broker is better BDSwiss or SimpleFX? Our expert assessment conducted according to TU’s own methodology showed that BDSwiss is one of the top brokers in the financial market with the TU Overall Score of 5.13 out of 10. SimpleFX is one of the top brokers in the financial market with the TU Overall Score of 6.48 out of 10. Find out more about TU Overall Score.
Feature | BDSwiss | SimpleFX |
---|---|---|
Overall |
3.9 |
3.3 |
4.8 |
1 |
|
3.7 |
3.5 |
|
3.6 |
3.3 |
|
Investment Instruments |
1 |
2.5 |
Platforms and Charting Tools |
4.5 |
4.1 |
Deposit and Withdrawal |
3.9 |
4.0 |
Research |
3.7 |
1 |
Education |
4.2 |
1 |
Support |
4.1 |
3.2 |
Bonuses |
1 |
4.1 |
|
|
BDSwiss vs SimpleFX: Pros and Cons
The BDSwiss brokerage company has provided financial services in the Forex market since 2012. The broker is keen to cooperate with traders worldwide. Therefore its activities are regulated by authorities in several countries such as: the Cyprus Securities and Exchange Commission (CySEC); the German Federal Financial Supervisory Authority (BaFin); the UK Financial Conduct Authority (FCA); and the US National Futures Association (NFA).
The SimpleFX broker was registered in the state of Saint Vincent and the Grenadines in 2014 and provides services to traders globally. A distinctive feature of this company is that the broker provides its clients with the opportunity to open accounts and withdraw funds in cryptocurrency. The SimpleFX broker is registered as an international financial company (IBC), but its activities are not subject to the financial regulator. At the moment, there are no awards in the SimpleFX asset.
BDSwiss | SimpleFX | |
---|---|---|
Overall Pros | A vast array of trading assets. | the ability to open an account in cryptocurrency |
A wide range of deposit and withdrawal methods. | the minimum deposit amount is $1 | |
Withdrawal fees are paid by the company. | ETH 2.0 Staking | |
The broker periodically conducts online lectures for its clients. | ||
Overall Cons | Lack of investment programs and trading bonuses. | Not regulated |
The broker charges a fee for inactivity on the account. | The broker's website lacks key information about spreads and trading conditions | |
Support is unavailable on weekends. | No bank transfer withdrawal |
BDSwiss vs SimpleFX: Safety and Regulation
Regulated By: | BDSwiss | SimpleFX |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
Mauritius (Company Number: 143350); BaFin Germany (Registration No. HRB 160749B); Financial Services Authority (FSA) Seychelles under license number SD047; |
The SimpleFX broker is registered as an international financial company (IBC), but its activities are not subject to the financial regulator. |
BDSwiss vs SimpleFX: Trading Conditions
Trading Conditions | BDSwiss | SimpleFX |
---|---|---|
Minimum Deposit |
$100 |
$1 |
Trading Platforms |
MetaTrader 4, MetaTrader 5, BDSwiss Webtrader, and BDSwiss mobile apps for iOS and Android |
MetaTrader 4, SFX |
Max Leverage (Futures) |
1:500 for Forex accounts and 1:5 for investment accounts |
1-500 |
Supported Markets |
Currency pairs, CFDs, indices, stocks, commodities, cryptocurrencies, and ETFs |
Currencies, stocks, indices, commodities, cryptocurrencies |
Trading assets |
250+ |
70+ |
Trading Accounts |
Classic, VIP, Raw, InvestPLUS |
Standard |
Base Account Currencies |
EUR, USD, GBP |
USD, cryptocurrencies |
BDSwiss vs SimpleFX: Fees
Forex Trading Fees
Fee | BDSwiss | SimpleFX |
---|---|---|
Standard Account EURUSD Average Spread |
1.6 pips |
1.1 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$5 per lot |
Not supported |
ECN Account EUR Average Spread |
0.2 pips |
Not supported |
CFD Trading Fees
Fee | BDSwiss | SimpleFX |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
Fee | BDSwiss | SimpleFX |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
Receiving costs are covered by BDSwiss |
No |
Withdrawal Fee |
Receiving costs are covered by BDSwiss |
FasaPay e-wallet - 1%, Skrill and Neteller – 3%, crypto - free |
Inactivity Fee |
10% of the account balance, with the minimum amount charged being €25 or trading account currency equivalent, and the maximum amount charged being €49,90 |
Yes |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
BDSwiss vs SimpleFX: Trading Assets
Asset Name | BDSwiss | SimpleFX |
---|---|---|
Overall |
250+ |
70+ |
Forex |
Yes |
yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
No |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
BDSwiss or SimpleFX: Investment Programs
Asset Name | BDSwiss | SimpleFX |
---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
ETH 2.0 staking |
Trading Platforms: SimpleFX or BDSwiss
BDSwiss | SimpleFX | |
---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
SimpleFX |
Others |
No |
No |
|
|
BDSwiss vs SimpleFX: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | BDSwiss | SimpleFX |
---|---|---|
Bank Transfer |
No |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
BDSwiss vs SimpleFX: Research
Research Type | BDSwiss | SimpleFX |
---|---|---|
News Feed |
No |
No |
Fundamental Data |
No |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
no |
BDSwiss vs SimpleFX: Education
Education Type | BDSwiss | SimpleFX |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
No |
Articles |
No |
No |
Videos |
Yes |
No |
Cent account |
No |
no |
SimpleFX vs BDSwiss: Support
Support Features | BDSwiss | SimpleFX |
---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
No |
No |
BDSwiss vs SimpleFX: Forex Bonuses and Promo
Promo | BDSwiss | SimpleFX |
---|---|---|
Forex Bonus |
No |
First deposit bonus |
Affiliate Program |
Each member of the referral program receives an individual link and can receive 150 EUR for each active trader. The maximum amount of total payments is 1500 EUR. |
SimpleFX Affiliate. The client of the company can earn extra income by attracting new clients: up to 25% of the spread of the invited trader and 5% of the spread of the traders who were invited by the invited traders. |
Other Promos |
||
|
|
Top 5 Reviews on SimpleFX
-
Comment
I never thought that I would be able to let myself be deceived. Last year I fell for the tricks of this SimpleFX company. They swindled $10,000 out of me. And after a month of trading with a mentor, there was nothing left in my account. Be careful!
-
Comment
Blatant deception, your money was used, in the end you are in the zeros and nothing more
-
Comment
About a month ago, my account was reset. Just one, and one zero. Luckily there wasn't much money. Support says "it's just a glitch". But they can't restore it! So draw your own conclusions.
-
Comment
A broker that offers accounts with standard terms. I traded with him for six months, but I could not reach a normal income. It seems that the spreads are not so high, but the profit that I expected when opening an account was still not there. I think that this is due to the speed of order execution - SimpleFX does not have it very good. More precisely, it is suitable for intraday traders, but for high-frequency trading it is better to look for another broker. SimpleFX also has advantages. For example, you can open a cryptocurrency account with this broker. You can also withdraw income in crypto. Leverage for majors is high - up to 1:500. In general, a normal intermediary, but definitely not for scalpers.
-
Comment
SimpleFX is a mid-level company, so I can't say anything particularly bad. Everything is fine here, both the terms and the quality of work. There's not much to praise either. But I've been with them for a few years now)
Top 5 Reviews on BDSwiss
-
Comment
BDSwiss is a normal company, nothing supernatural. Execution is pleasing, money is deposited and withdrawn without problems. I recommend BDSwiss.
-
Comment
I have been trading with BDSwiss for more than 4 years. It is possible to work with BDSwiss, but there are also some disadvantages. Orders sometimes slip when there is a strong movement, but this is not very scary. Jumping spreads during news are much more annoying. Therefore, it becomes difficult to trade on news. It’s good to work with BDSwiss in long and medium positions.
-
Comment
BD Swiss is a reliable company, and I'm not just saying that. The company is reputable and large. I've been working here for 2 years now. I like the choice of trading instruments and fast order execution - everything is there to make money.
-
Comment
I want to tell you about my success with BDSwiss. I made a $3,000 deposit. Within a month, my $3,000 turned into $3,800. I am pleased with the result. My self-confidence has increased, I think that I am a good trader. I’m grateful to BDSwiss for the absence of requotes and slippages.
-
Comment
I was looking for a way to earn extra income, did some research, and was drawn to the opportunity to trade on the Forex market. I read many reviews about different brokers and decided to settle on BDSwiss. There are no account maintenance fees, no minimum deposit, and no commission on trades, which is a significant plus for me as a beginner. Overall, all the conditions are created for comfortable trading. The BDSwiss customer support impressed me. I had an issue once, and they resolved it promptly on the same day.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!