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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.

Updated : August 12, 2022

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005 regulations book

Fees and Spreads Overview

005 feature selection

Additional Trading Fees

001 cash withdrawal

Broker Fees

004 review

Pros and Cons

008 auction

Final Verdict

001 question

FAQ

Overall Rating

Min Deposit

USD 100 / 41459 NGN

Regulators

CySec, FSC, FSA, BaFin, NFA

Trading Desk

MetaTrader 4 , MetaTrader 5

Crypto

Yes

Total Pairs

50 Forex Pairs and 20 Crypto Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

🏛️ HeadquarteredSeychelles
🏛️ Nigerian Based OfficeNo
👍 Accepts Nigerian Traders?Yes
📅 Year Founded2012
📱 Nigerian Office Contact NumberNone
⚖️ RegulationCySEC, FSC, BaFIN, FSA
🔎 License NumberCyprus – 199/13
Mauritius – C116016172
Germany – HRB 160749B
Seychelles – SD047
⚖️ CBN RegulationNone
✴️ Regional RestrictionsThe United States, Belgium, and other OFAC sanctioned regions
☪️ Islamic AccountYes
📈 Demo AccountYes
📈 Retail Investor Accounts4
📊 PAMM AccountsNone
📊 Liquidity ProvidersNone indicated
💸 Affiliate ProgramYes
📊 Crypto trading offered?Yes
🚀 Offers a Nigerian Account?No
💻 Dedicated Nigerian Account Manager?No
📈 Maximum Leverage1:1000
📈 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 Stats1.3 million
Active Nigerian-based BDSwiss customers150,000+
💰 Nigeria Daily Forex Turnover$1.25 million+
💳 Deposit and Withdrawal OptionsBank wire transfer
Debit Cards
Credit Cards
Skrill
Neteller
💰 Segregated Accounts with Nigerian Banks?No
💻 Trading PlatformsMetaTrader 4, MetaTrader 5, BDSwiss Mobile, BDSwiss Web
💰 Tradable AssetsForex
Commodities
Shares
Indices
Cryptocurrencies
🌐 Offers USD/NGN currency pair?No
🌐 USD/NGN Average SpreadN/A
📈 Offers Nigerian Stocks and CFDsNo
👨‍💼 Languages supported on WebsiteEnglish, Czech, German, Italian, Spanish, Korean, French, Norwegian, Polish, Danish, Arabic, Malaysian, Thai, Vietnamese, Filipino, Hindi, Indonesian, Chinese, Portuguese, Romanian, Turkish, Russian
👥 Customer Support LanguagesMultilingual
👥 Customer Service Hours24/5
👥 Nigerian-based customer support?No
💰 Bonuses and Promotions for NigeriansNone
✴️ Education for Nigerian beginnersYes
📊 Proprietary trading softwareYes
💰 Most Successful Nigerian TraderUche Paragon ($20 million net worth)
✔️ Is BDSwiss a safe broker for Nigerians?Yes
✔️ Rating for BDSwiss Nigeria9/10
✔️ Trust score for BDSwiss Nigeria78%
👉 Open an account👉 Open Account

BDSwiss Fees and Spreads Overview

👉 The spread list for Nigerian traders starts from 0.3 pips EUR/USD.

 

👉 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

BDSwiss 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.

Broker Fees

BDSwiss Broker Fees

👉 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 chargedThere are inactivity fees and currency conversion fees charged
There is a high maximum leverage offeredThere are withdrawal fees charged along with withdrawal limits
There is a choice between retail trading accountsSpreads are not tight
BDSwiss offers competitive trading conditionsNigerian 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

 

9.5/10 - (13 votes)

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