Is BDSwiss Legal in UK? Is it Safe?
Reliability is the key criterion for choosing any broker. If you have doubts about the reliability of a company, it is not recommended to work with it. Traders from UK often ask “Is BDSwiss safe? Does the company operate legally in the territory of the country, can it be trusted?" Traders Union analysts have prepared a detailed analysis, where we will see whether BDSwiss is legal in UK and whether you can work with this broker.
Short summary about the broker BDSwiss
The BDSwiss brokerage company has provided financial services in the Forex market since 2012. The broker is keen to cooperate with traders worldwide. Over the past year, the broker has received World Finance Awards such as Best Market Analytics Service Provider (FxScouts Awards), and Best Forex & CFD Broker (International Investor Awards).
| 💰 Account currency: | EUR, USD, GBP |
| 🚀 Minimum deposit: | $10 |
| ⚖️ Leverage: | 1:1000 (available for certain countries and regions.) |
| 💱 Spread: | From 0.0 p |
| 🔧 Instruments: | Forex, Commodities, Shares, Indices, Cryptocurrencies, ETFs |
| 💹 Margin Call / Stop Out: | 50% / 20% |
Pros and cons of BDSwiss
👍 Advantages of trading with BDSwiss:
•A vast array of trading assets.
•The ability to trade from both PC and mobile devices.
•A wide range of deposit and withdrawal methods.
•Withdrawal fees are paid by the company.
•The broker periodically conducts online lectures for its clients.
👎 Disadvantages of BDSwiss:
•Lack of investment programs and trading bonuses.
•The broker charges a fee for inactivity on the account.
•Support is unavailable on weekends.
What information should a broker disclose?
Only the broker that discloses all legal information can be considered reliable. You need to take notice of this factor when choosing the company.
The official website of the broker should contain the following information:
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The name of the legal entity.
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Country of registration.
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Number of the registration certificate.
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Legal address, factual addresses of the offices of the broker.
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License to conduct financial activity.
The information must be published either in a special section on the website of the broker or in the disclaimer. Make sure to check it.
The official website of the broker must also provide internal regulatory documents. Before you start working with a company, review Terms of Use, Privacy Policy, Disclaimer, Risks Notice, and other documents.
Broker regulation: FSCA
The Financial Sector Conduct Authority is the financial regulatory body of the Republic of South Africa. The regulator supervises the operation of financial organizations operating in South Africa and also issues licenses for such companies. FSCA also licenses Forex brokers.
FSCA licenses are issued not only for brokers that focus their operation in the RSA and in Africa. Companies that offer services in other regions of the world also operate under the licenses of the organization. Brokers that hold the license of this regulator can be considered reliable.
Is BDSwiss legal in UK? Broker’s license
Security (Protection for Investors)
To protect the personal data of each client, the company uses advanced software that encrypts all data. In particular, the automated protocol SSL (Secure Sockets Layer) is responsible for the security of information, which makes all transactions as secure as possible.
👍 Advantages
- The broker's activities are under the supervision of several regulatory bodies
- Data encryption ensures the confidentiality of customers' personal information
👎 Disadvantages
- Client funds are not held in segregated accounts
- BDSwiss does not cooperate with compensation funds
Brokers that are similar to BDSwiss
In addition to license and reliability, you also need to take notice of the trading conditions of brokers. This is important both for beginners and experienced traders, as the demands of the clients with different experience differ. Traders Union analysts have prepared a comparison table of BDSwiss with similar brokers.
Comparison of BDSwiss with other Brokers
| BDSwiss | RoboForex | Pocket Option | Exness | FxPro | Tickmill | |
|---|---|---|---|---|---|---|
Trading platform |
MT4, MT5, WebTrader, BDSwiss (Mobile app) |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MobileTrading, MT5, cTrader, FxPro Edge |
MT4, MT5, Tickmill Mobile App |
Min deposit |
$10 |
$10 |
$5 |
$10 |
$100 |
$100 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
Yes |
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
Spread |
From 0 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
From 0 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
No deposit bonus |
No |
No |
No |
No |
No |
$30 |
Cent accounts |
Yes |
Yes |
No |
No |
No |
No |
The BDSwiss broker is suitable for users of all levels of Forex trading experience and is focused on cooperating with active traders.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
FxPro is a reliable broker company that offers market access to all traders, regardless of their level of knowledge and experience. Broker's clients are protected from negative balance; their activities are carried out in comfortable conditions and with competent professional support.
Tickmill is a suitable broker for both professional traders and novices. The company is good for robotic trading as well as for short-term strategies.
Conclusions
Traders Union showed that BDSwiss is indeed very reliable and legal in UK. The company holds all necessary licenses to conduct financial activity; it complies with all key requirements of the regulator. Legality of the broker’s operation in the country is one of the key criteria for choosing the company for trading. It is important to take this into consideration, as well as the trading conditions. In this case, we can say that the broker meets all the reliability requirements.
FAQ
Can I work with a broker who does not hold the license?
Trading with a broker without the license involves high risks. The license guarantees that the company performs its obligations. Working with a broker without the license creates a risk of manipulations with quotes, failure to pay, and other schemes.
Where can I complain if a broker with a license violated its obligations?
If a broker allows a violation of the conditions, you can appeal to the authority that issued the license and to the court.
How do I choose the best broker in UK for beginners?
Novice traders need to consider the brokers with licenses issued in UK or other European Union countries, availability of a demo account or cent account, the level of commissions and fees and minimum deposit, as well as educational materials.
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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!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!