Fair binary scam review Read Banc de Swiss scam review!

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Banc de Swiss Scam

Rating:

We all understand, how important is to have a good broker. Some brokers made us feel uncertain, and Banc de Swiss is not exception. Is Banc de Swiss scam? Let us find out.

Min. Deposit: $100 Demo: No

Platform: SpotOption Bonus: No

Regulation: CySEC US Clients: No

DO NOT SIGN UP! Read full Banc de Swiss Scam Review and find out what is waiting for you. SCAM DETECTED!

Banc de Swiss Scam Review: About the Company

Generally, we are satisfied with the mediocre, but comfortable design and the amount of information presented on the website of BD Swiss. Their registered address is Ioanni Stylianau, 6, 2nd floor, flat/office 202, 2003, Nicosia Cyprus. The owning company is named Keplero Holdings Ltd. BD Swiss is regulated by CySEC with a license number 199/13 and that means that it can probably be trusted. If some serious and unpleasant accidents take place, their reputation will suffer a lot.

Beside all these positive things, there is something that puzzled us a little bit. If they are located in Cyprus and have no relation to Switzerland and no connection with its banks, why bearing Swiss in the name and having the symbolics of the national flag? That is the open question. Perhaps it is just to draw your attention as Swiss banks are quite reputable. This can be a small reason why to call this broker Banc de Swiss scam.

We would like to inform you that even if this broker is better than scams that do not even provide the address, having regulation does not makes this broker superior just from the beginning. Therefore, a good analysis should be made.

BD Swiss Accounts Review

What was really unexpected is that Banc de Swiss review did not find any account types or packages. This broker simply does not have them. Banc de Swiss lets you trade merely with one account.

Unlike many best binary options brokers that actually reward your large deposit with VIP accounts, at BD Swiss you will be treated absolutely the same, no matter how much you deposit: $100 or $100,000. Basically, good brokers should have different packages, this shows that they provide services correspondingly to the size of investment. Unfortunately, this BD Swiss lacks this important feature.

Banc de Swiss Trading Conditions

Well, we still insist on considering Banc de Swiss to be scam and our suspicions were confirmed, when we reviewed the trading conditions. As most scam brokers, Banc de Swiss offers merely 6 trading conditions. Let us take a look at them:

  • Binary Options
    There is no need to explain what it is BO, nothing special here.
  • Pairs
    This trading type involves evaluating 2 assets at the same moment of time, while their performance is compared relatively to each other. You simply decide which financial instrument will actually do better in a concrete timeframe.
  • Long-term
    Banc de Swiss review reminds you that this kind of trading has a key principle of making long-term prediction. Your assignment is to forecast what may happen with the instrument in the established timeframe from 6 days to 6 months. Then the payout must be gained after the expiration time.
  • 60 seconds
    Basically, this is much the same as ordinary Binary Options. But, scam brokers like Banc de Swiss offer their options additionally with the time of expiration set as 60 seconds.
  • One touch
    In this trading type, you are about to predict whether the price reaches a particular level. Indeed, correct prediction equals profit but not with this broker.
  • Ladder
    The last trading type presented is ladder. Well, this can be regarded as one of the interesting types of BO trades discovered by this review. In this kind of option you have 5 distinct prices of the particular asset and your task is to predict whether the price in 15, 30, 60 minutes or 2 hours would be over or under them. Each price and put/call option have different payout accordingly.

Banc de Swiss Trading Platform

Not surprisingly, BD Swiss posses a SpotOption trading platform. Well, it is not complicated to use and quite pleasant to work with. However, do not forget that you are dealing with the scam broker, thus ignore the pluses of the BD Swiss platform.

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OptionBit Scam Deposits and Withdrawals

As anticipated, BD Swiss have developed a flexible banking system. Most scam brokers do so, as they are interested in solely receiving your hard-earned money. Still, the deposit can be made via credit card or wire transfer and the payout duration is not short, we admit, between 2-7 days, while with the card you immediately fund your account.

As for the withdrawals, they are performed just like deposits with the same methods you think are the most appropriate for you.

However, BD Swiss is the scam, do not spend your money on it and find much better broker like 24options.

OptionBit Customer Support

Well, the customer support was better than other features presented, even better than BD Swiss platform. In fact, Banc de Swiss supports 20 languages, among them are all languages of the EU. While this is satisfying, you are also offered a live chat. The average expectancy of reply is 5 minutes, which is normal for all BO brokers. Beside, this they have 13 telephone support numbers and e-mail to contact. Basically, the support system is good, but do not forget that you search for a Binary Options broker, not friendly chatting. And since BD Swiss is the scam, customer support matters nothing.

OptionBit Account Application

The opening account process here is slightly more complicated comparatively to other scam brokers who absolutely do not care who you are. However, this broker does not aims to develop personal approach to each client, so the application process does not require a lot of individual information to be given.

Therefore, in our BD Swiss review we suggest you choosing brokers who really want to know you and will take care of you as a client.

Honest OptionBit Scam Review Conclusion

We still have a vague feeling about this broker, but the overall impression is that it is the scam especially since it does not offer you any binary options deposit bonuses. Why misleading people by creating fake relation to Switzerland and its banks is not understandable. Same goes with the poor variety of trading conditions BD Swiss scam offers. This broker is not completely that bad, but still you can select much more better one.

The only thing we can advise to you is trading with trusted BO Brokers!

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

BDSwiss

Broker Name: BDSwiss
Platform(s): CFD, FX, Crypto
Founded: 2020
Bonus: No Bonus
Spreads: 1-1.5
Leverage: 1:30
Regulated: CySEC
Demo Account: Yes
Minimum Deposit: 200
US Traders: Not Accepted

BDSwiss Review

BDSwiss is a well-known and respected CFD/FX and Crypto broker owned by BDSwiss Holding plc and regulated by the Cyprus Securities and Exchange Commission CYSEC License No. 199/13.

Editor’s Note: Why BDSwiss Sucks In 50 Words

Due to ESMA rules, BDSwiss is now focussing more on FX/CFD and crypto trading, forgetting all about Options. This can be either a good or bad thing, depending on how you look at it but for the diehard options fans, it sucks.

Why BDSwiss Does Not Suck In 50 Words

The owning company, BDSwiss Holding Plc. is regulated by CySEC under License number 199/13 and registered with the U.S. NFA. This gives us extra confidence that we are dealing with a trustworthy broker. Their website is well organized and always kept in tiptop condition, with updates and comprehensive info about trading conditions.

Is BDSwiss a Scam?

BDSwiss can be considered a broker with experience and a “long” career. The brokerage is regulated by more than one financial authority and as you can see from the section above, they are very transparent about where their offices are located. This is the first sign that the brokerage is not a scam and actually looking to do business in legit and fair conduct.

Should I Open an Account with BDSwiss?

More and more brokers are making the transition towards CFD, FX and Cryptocurrencies and BDSwiss is one of those brokers. They have dropped option-trading completely and are now focusing on the above-mentioned products exclusively.

BSSwiss’ Education section includes tons of information (glossary, training videos, webinars, economic calendar, economic news, etc.) and a Trading Academy where information is laid out in the form of Lessons, which you can mark as complete after reading. They also have a Daily Analysis section, which is updated daily, as it should be.

They have a new Economic Calendar, new Economic News section, and Webinars that cover a wide range of topics. Strategy Webinars (their analysts will show you how to read charts and interpret technical indicators), Special Events (webinars focuses on major events that take place in the market) and Live Trading Sessions, where you can look over the shoulder of a professional and see how he is trading.

I must take a bit of time to talk about their status of being registered with the U.S. National Futures Association. So far I don’t think I’ve seen a brokerage registered with this regulator, and that’s a pretty big deal because the NFA is known to be a watchdog that bites more than it barks. However, as a trading company, they don’t accept US clients. Make of that what you want, because I don’t really understand how it works. I mean, why register with the NFA if you are not doing business with U.S. clients?

Maybe I don’t understand all the intricacies of doing business across the big pond, but to me, BDSwiss looks like a solid brokerage, focused on client protection, good education and fair trading conditions. And one thing is certain: in Europe, they are fully regulated and operating under the MiFID (EU Directive), so they definitely look like a good choice for your next online trading broker.

BDSwiss registered address is Ioanni Stylianou 6, 2nd floor, Office 202, 2003 Nicosia, Cyprus. Headquarters are located at 23, Spyrou Kyprianou Avenue, Protopapas Building, 3rd Floor, Mesa Gitonia, CY-4001 Limassol, according to the CySEC official website.

On BDSwiss’ website, they also list the address Apostolou Andrea Street 11, Hyper Tower, 5th Floor, 4007 Mesa Yeitonia, Limassol, Cyprus. They also have a German address, for postal letters only: Mainzer Landstrasse 41 60329 Frankfurt, Germany. Support is available via email [email protected] or local phone numbers.

BDSwiss LLC is also registered with the U.S. National Futures Association (NFA), under ID number 0486419. The NFA is one of the most feared financial watchdogs in the industry but it is unclear whether they accept US clients or not.

BDSwiss Complaints

Surprisingly, people don’t talk much about this brokerage. I tried looking for complaints on all major forums and not much has surfaced; even our Comments section below this review only has a very small number of entries, with some people saying that BDSwiss is not regulated (obviously this is a well-regulated broker) and others complaining about inactivity fees being charged. All in all, there are no horror stories or major complaints.

BDSwiss Regulatory Warnings And Announcements

23.01.2020: The Cyprus Securities and Exchange Commission (CySEC) announced that on 19/12/2020 they have reached a settlement of 150,000 Euros with Bdswiss Holding Plc for suspicion of possible violations of the Investment Services and Activities and Regulated Markets Law of 2007 (the “Law”) and of the Directives issued pursuant to the Law. The settlement sum was fully paid. Source: CySEC Board Decision 23/01/2020

16.03.2020: The Cyprus Securities and Exchange Commission (CySEC) announced that on 14/12/2020 they have decided to impose an administrative fine of 5,000 Euros on the CIF BDSwiss Holding Ltd. for non-compliance with the Investment Services and Activities and Regulated Markets Law of 2007 (the “Law”). Source: CySEC Board Decision 16/3/2020

BDSwiss Bonus

Since this is a CySEC regulated brokerage, they have to follow the guidelines of CySEC Circular No: C168, which states that Cypriot Investment Firms (CIFs) must avoid offering bonuses to their clients. As a result, BDSwiss no longer advertises a Bonus but upon speaking with one of their representatives, I was told that my account manager would talk to me about possible promotions.

BDSwiss Withdrawal

The minimum withdrawal is $10 but if the client has more than $100 in his/her account and wants to withdraw less than $100, he/she will have to pay a fee of 5% of the withdrawal amount (minimum $25). It’s confusing, I know, but I don’t make these rules and I recommend you carefully read the documentation that’s available on their website.

BDSwiss Extras

BDSwiss LLC is registered with the U.S. National Futures Association. This is definitely an extra and it makes me think they are preparing some sort of product for the U.S. market. Anyway, that’s just speculation, so we’ll let some time pass to see where they’re going.

Trading Bitcoin With BDSwiss

In an attempt to align to the newest trend of cryptocurrency trading, BDSwiss now offers Contracts For Difference (CFD) on Bitcoin, Litecoin, and Ethereum. The minimum trade size is 0.1 lots and the maximum is 1 lot per position.

Trading is available 24/7 (yes, even on weekends) because Bitcoin and altcoins are not controlled by banks or any other entity and the maximum leverage is 2:1, which is not a lot but Bitcoin trading is still in its infancy and is still very volatile, that’s why you won’t find huge leverage for the time being.

BDSwiss Ratings

User Friendly 17/20

The website is easy to navigate due to its simplicity; the trading platform is accessible and has enough features, the FAQ section is well organized so you can find the information you’re looking for without the need to contact support. The website is translated into 22 languages, which is a lot and makes it accessible to people from many parts of the world.

Demo accounts are available but you will have to speak to a representative who will assess whether you qualify or not. I don’t really understand; I thought everybody qualifies for a Demo account.

Range Of Markets, Spreads And Leverage 18/20

Their trading basket contains over 200 assets, including indices, currencies, equities, commodities, and cryptocurrencies (Bitcoin, Litecoin, Ethereum, etc). The spreads are medium and floating so they change according to market conditions. The average is 1.5 pips on EUR/USD for the Basic account and 1.1 pips for the Black account. The leverage goes up to 1:30 for currencies and much lower for cryptocurrencies (1:2).

Deposits And Withdrawals 16/20

Deposits can be made via Maestro, Visa, a number of e-wallets and wire transfers. The same card/e-wallet the client used to deposit has to be used for withdrawal which is usually processed during the same day or the next but more time will pass until the money is visible in your account. The minimum deposit is 200 EUR/USD/GBP and the minimum withdrawal is 10 EUR/USD/GBP.

Fees And Support 18/20

There are no commissions to open an account, just like everywhere else but to withdraw, a fee of 5% must be paid if the sum is less than $100 but his/her account has more than $100 in it. Several other fees apply so we recommend reading their Terms And Conditions. Support is fast to answer and polite – available through live chat, email, phone, and several social media apps.

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BDSwiss Asset Conditions at a Glance

Benefit from scalable and cost-efficient CFD contracts that cover a wide range of global markets. Increase your market exposure with leverage, control the size of your positions with our intuitive order window and reduce your trading costs with our competitive spreads and award-winning conditions.

Classes

Assets

Conditions

Spreads from 0.2 pip

Leverage up to 1:500

Starting from 0.01 lots

Spreads from 0.2 pip

Leverage up to 1:500

Starting from 0.01 lots

Spreads from 0.4 pip

Leverage up to 1:500

Starting from 0.01 lots

Spreads from 0.3 pip

Leverage up to 1:500

Starting from 0.01 lots

Spreads from 0.1

Leverage up to 1:200

Starting from 0.01 lots

Spreads from 0.05

Leverage up to 1:100

Starting from 0.01 lots

Spreads from 0.3

Leverage up to 1:100

Starting from 0.01 lots

Spreads from 0.3

Leverage up to 1:100

Starting from 0.01 lots

Spreads from 1.0

Leverage up to 1:100

Starting from €1 per Pip

Limit Level only 3 Pips

Spreads from 2.0

Leverage up to 1:100

Starting from $1 per Pip

Limit Level only 3 Pips

Spreads from 1.5

Leverage up to 1:100

Starting from $1 per Pip

Limit Level only 3 Pips

Spreads from 1.0

Leverage up to 1:100

Starting from £1 per Pip

Limit Level only 3 Pips

Spreads from 1.0

Leverage up to 1:5

Starting from 1 lot

Spreads from 1.0

Leverage up to 1:5

Starting from 1 lot

Spreads from 1.0

Leverage up to 1:5

Starting from 1 lot

Spreads from 1.0

Leverage up to 1:5

Starting from 1 lot

Spreads from 160.0

Leverage up to 1:5

Starting from 0.01 lots

Spreads from 36.0

Leverage up to 1:5

Starting from 0.01 lots

Spreads from 0.020

Leverage up to 1:5

Starting from 0.01 lots

Spreads from 5.0

Leverage up to 1:5

Starting from 0.01 lots

  • 1+
    MILLION
    REGISTERED
    ACCOUNTS
  • 30+
    BILLION
    FX VOLUME
    PER MONTH
  • 10,2+
    MILLION
    YEARLY TRANSACTIONS
    PROCESSED

BDSwiss Group Licenses and Registrations

BDSwiss LLC is authorised and registered with the U.S. National Futures Association NFA ID: 0486419

BDSwiss Holding PLC is authorised and licensed by CYSEC (EU) (License No. 199/13)

BDS Markets is authorised and regulated as a Investment Dealer by the FSC on 06/12/2020 (License No. C116016172)

BDSwiss GmbH (Registration No. HRB 160749B) is the registered Tied Agent of BDSwiss Holding PLC in Germany.

START TRADING
ON BDSWISS MOBILE APP

Available for

START TRADING
ON BDSWISS MOBILE APP

Available for

Welcome to BDSWISS Live Support

Please select how you would like to be contacted

  • Add the following BDSWISS number to your contact list: +35799156568
  • Open Whatsapp.
  • Click the “New Chat” icon in the top right corner.
  • Select the BDSWISS number you added in step 1.
  • Start chatting!
  • Open Telegram
  • Search for BDSwiss Support (@BDSwiss_CS_bot)
  • Open the chat and click “Start”
  • Add the following BDSWISS number to your contact list: +35799156568
  • Open Whatsapp.
  • Click the “New Chat” icon in the top right corner.
  • Select the BDSWISS number you added in step 1.
  • Start chatting!
  • Open Telegram
  • Search for BDSwiss Support (@BDSwiss_CS_bot)
  • Open the chat and click “Start”

Account

About

Trade

*Risk Warning: Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Domain usage rights belong to BDS Ltd (Registration No: 202039). Registered address: Tenancy 10, Marina House, Eden Island, Mahe, Seychelles.
Payment transactions are managed by BDS Markets (Registration number: 143350). BDS Markets is authorized and regulated by the Mauritius Financial Services Commission (the FSC, license no. C116016172). Registered address: 06th Floor, Nexteracom Building, Ebene, Mauritius.

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