BDSwiss Fees and Spreads
BDSwiss spreads start from the average spread of 0.3 pips EUR/USD, fees, and commission dependent on the trading account the trader is using. BDSwiss chargers deposit fees of $100 USD, which is equivalent to 41 565 NGN, at the time of writing.
Fees and Spreads Overview
Additional Trading Fees
Pros and Cons
USD 100 / 41459 NGN
CySec, FSC, FSA, BaFin, NFA
MetaTrader 4 , MetaTrader 5
50 Forex Pairs and 20 Crypto Pairs
Account Activation Time
|🏛️ Nigerian Based Office||No|
|👍 Accepts Nigerian Traders?||Yes|
|📅 Year Founded||2012|
|📱 Nigerian Office Contact Number||None|
|⚖️ Regulation||CySEC, FSC, BaFIN, FSA|
|🔎 License Number||Cyprus – 199/13
Mauritius – C116016172
Germany – HRB 160749B
Seychelles – SD047
|⚖️ CBN Regulation||None|
|✴️ Regional Restrictions||The United States, Belgium, and other OFAC sanctioned regions|
|☪️ Islamic Account||Yes|
|📈 Demo Account||Yes|
|📈 Retail Investor Accounts||4|
|📊 PAMM Accounts||None|
|📊 Liquidity Providers||None indicated|
|💸 Affiliate Program||Yes|
|📊 Crypto trading offered?||Yes|
|🚀 Offers a Nigerian Account?||No|
|💻 Dedicated Nigerian Account Manager?||No|
|📈 Maximum Leverage||1:1000|
|📈 Leverage Restrictions for Nigeria?||No|
|💳 Minimum Deposit (₦)||41,000 Nigerian Naira equivalent to $100|
|💳 Nigerian Naira Deposits Allowed?||No, only USD, GBP, EUR|
|💰 Active Nigerian Trader Stats||1.3 million|
|Active Nigerian-based BDSwiss customers||150,000+|
|💰 Nigeria Daily Forex Turnover||$1.25 million+|
|💳 Deposit and Withdrawal Options||Bank wire transfer
|💰 Segregated Accounts with Nigerian Banks?||No|
|💻 Trading Platforms||MetaTrader 4, MetaTrader 5, BDSwiss Mobile, BDSwiss Web|
|💰 Tradable Assets||Forex
|🌐 Offers USD/NGN currency pair?||No|
|🌐 USD/NGN Average Spread||N/A|
|📈 Offers Nigerian Stocks and CFDs||No|
|👨💼 Languages supported on Website||English, Czech, German, Italian, Spanish, Korean, French, Norwegian, Polish, Danish, Arabic, Malaysian, Thai, Vietnamese, Filipino, Hindi, Indonesian, Chinese, Portuguese, Romanian, Turkish, Russian|
|👥 Customer Support Languages||Multilingual|
|👥 Customer Service Hours||24/5|
|👥 Nigerian-based customer support?||No|
|💰 Bonuses and Promotions for Nigerians||None|
|✴️ Education for Nigerian beginners||Yes|
|📊 Proprietary trading software||Yes|
|💰 Most Successful Nigerian Trader||Uche Paragon ($20 million net worth)|
|✔️ Is BDSwiss a safe broker for Nigerians?||Yes|
|✔️ Rating for BDSwiss Nigeria||9/10|
|✔️ Trust score for BDSwiss Nigeria||78%|
|👉 Open an account||👉 Open Account|
BDSwiss Fees and Spreads Overview
👉 BDSwiss charges different spreads and costs depending on the kind of account, the financial instrument, and the current market circumstances being used by investors. In terms of spreads, the following account types are often charged as follows:
➡️ Classic Account – 1.5 pips EUR/USD
➡️ Premium Account – 1.1 pips EUR/USD
➡️ VIP Account – 1.1 pips EUR/USD
➡️ RAW Account – 0.3 pips EUR/USD
👉 Each account has different commission charges as follows:
➡️ Classic Account – $2 on indices and 0.15% on shares
➡️ VIP Account – 0.15% on shares
➡️ RAW Account – $2 on indices, $5 on forex pairs, 0.15% on shares
Additional Trading Fees
👉 A fee or interest is charged or deducted when Nigerian traders leave their positions open beyond the end of a trading day, known as overnight or swap costs. In addition to a thorough and clear cost schedule, BDSwiss charges overnight fees according to the following:
➡️ The position size
➡️ The position of the trader – whether long or short
➡️ The financial instrument that is being traded
👉 The typical swap fees that are charged by BDSwiss are -0.5 pips on a short swap and -7.0 pips on a long swap, regardless of the trading account used. Because BDSwiss is not a spread betting broker, spread betting fees will not apply.
👉 Deposit fees are not charged, but BDSwiss has withdrawal fees. There is a minimum withdrawal amount and related cost for traders who utilize bank wire transfer for sums equal to, or less than 100 EUR.
👉 In addition, BDSwiss charges the following additional broker fees to the Classic and Premium Account:
➡️ $500 (207,900 NGN) minimum to access AutoChartist Performance Stats
➡️ $1,000 (415,900 NGN) minimum to access the Personal Account Manager
👉 If Nigerian traders make deposits in Nigerian Naira, their deposits will automatically be converted to the accepted currencies, and this will attract a currency conversion fee. Lastly, 10% of the account balance is levied if a trading account is inactive for 90 days or more.
BDSwiss Pros and Cons
|✔️ Pros||❌ Cons|
|Deposit fees are not charged||There are inactivity fees and currency conversion fees charged|
|There is a high maximum leverage offered||There are withdrawal fees charged along with withdrawal limits|
|There is a choice between retail trading accounts||Spreads are not tight|
|BDSwiss offers competitive trading conditions||Nigerian traders cannot deposit NGN into their account, and they do not have a Naira denominated account|
BDSwiss Final Verdict
BDSwiss is a popular and reputable international broker that offers Nigerian traders comprehensive trading solutions. While Nigerians cannot trade in their local currency, they have the option to register a trading account in USD, GBP, or EUR.
Frequently Asked Questions
Does BDSwiss offer leverage?
Yes, BDSwiss offers maximum leverage ratios up to 1:1000, depending on the trading account that the trader chooses.
How much commission does BDSwiss charge?
BDSwiss charges commissions at a flat rate as follows:
- Classic Account – $2 on indices and 0.15% on shares
- VIP Account – 0.15% on shares
- RAW Account – $2 on indices, $5 on forex pairs, 0.15% on shares
Are there additional charges on the Islamic account?
No, there are no additional charges on the Islamic Account that BDSwiss offers Nigerian Muslim traders.
Is BDSwiss regulated by the Central Bank of Nigeria?
No, BDSwiss is not regulated by the Central Bank of Nigeria.
What spreads can I expect with BDSwiss?
The average spreads charged by BDSwiss are as follows:
- Classic Account – 1.5 pips EUR/USD
- Premium Account – 1.1 pips EUR/USD
- VIP Account – 1.1 pips EUR/USD
- RAW Account – 0.3 pips EUR/USD