BDSWISS Information

BDSwiss is an offshore-regulated forex and CFD broker that was established in 2012 and is registered in Seychelles. The broker offers 250+ CFDs on Forex, Shares, Indices, Commodities, and Cryptos with leverage up to 1:2000 and spread from 0 pips via the MT5, BDSwiss Mobile App, and BDSwiss WebTrader platforms.

Pros & Cons

BDSWISS offers 250+ CFDs across multiple asset classes, making it a versatile platform for traders. The absence of deposit and withdrawal fees is a definite advantage for those who prioritize low-cost trading. Additionally, the broker's extensive educational resources can be beneficial for novice traders who want to improve their trading skills.

However, some traders may find the offshore Seychelles Financial Services Authority (FSA) license to be a drawback.

Is BDSWISS Legit?

Yes. BDSWISS is offshore regulated by Seychelles Financial Services Authority (FSA).

Regulated Country	Regulated by	Current Status	Regulated Entity	License Type	License Number
	FSA	Offshore Regulated	BDS Ltd	Retail Forex License	SD047

Market Instruments

BDSwiss offers 250+ CFDs on Forex, Shares, Indices, Commodities, and Cryptos.

Account Types/Fees

Demo Account: BDSWISS provides a demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: BDSWISS offers four account types: Cent, Classic, VIP, and Zero-Spread. The minimum deposit to open an account is $10, $10, $250 and $100 respectively. The threshold to open an account at BDSWISS is quite low. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.

Leverage

BDSWISS offers a maximum leverage of up to 1:2000 for all account types, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.

Trading Platforms

As for the trading platform, BDSWISS provides its clients with many options.

There is a public platform - MT5 that has served many clients worldwide, also BDSWISS's own platforms - BDSwiss Mobile App and WebTrader.

If you do not want to spend time familiarizing yourself with a new platform, you can choose MT5. But BDSWISS's own platform provides better compatibility with businesses, as they are specially developed and customized platforms. The choice is yours.

Deposits & Withdrawals

BDSWISS offers a wide range of deposit and withdrawal options, including Visa, MasterCard, Skrill, Neteller, Bank Wire, Pay Retailers, cryptocurrencies, AstroPay, Globepay, MPESA, airtel tiGo, korapay, and more.

The broker does not charge any fees for deposits or withdrawals.

BDSWISS minimum deposit vs other brokers

Most deposits are processed instantly. For withdrawals, BDSWISS strives to process most requests within 24 hours, although the processing time may vary depending on the payment method used and the verification requirements.

Fees

BDSWISS charges overnight fees on all positions that are held open overnight, and the rates depend on the instrument being traded.

The broker also charges a currency conversion fee for deposits made in a currency different from the account currency.

Moreover, if no trading activity occurs for over 90 days, a monthly fee of $30 will be deducted from your account balance, until the account balance is 0. This charges covers the maintenance/administration expenses of such inactive accounts.

It is important for traders to keep these fees in mind when planning their trading activities, as they can impact the overall profitability of their trades.

Education

BDSWISS provides a range of educational resources to assist traders in improving their trading knowledge and skills. They offer a variety of educational materials, including Forex eBooks, Forex Basic Lessons, Forex Glossary, and Educational Videos.

Conclusion

All in all, BDSWISS offers a diverse range of trading instruments with competitive spreads and commissions on different account types. The broker provides a variety of deposit and withdrawal options with no fees charged, and fast processing time. BDSWISS also offers various educational resources and trading tools. However, is offshore regulated by Seychelles Financial Services Authority (FSA) and there are some negative reviews from their clients saying that they have met severe slippage and unable to withdraw. Every trader should be cautious before trading or investing with a broker.

Frequently Asked Questions (FAQs)

What is GKFX Prime?

GKFX Prime is an online forex and CFD broker that was established in 2012. The broker is based in the United Kingdom. GKFX Prime provides traders with a range of trading instruments, including forex, indices, commodities, and cryptocurrencies. They offer various account types and trading platforms, including the popular MetaTrader4 and MetaTrader5 platforms. GKFX Prime also provides educational resources and customer support in multiple languages.

What Type of Broker is GKFX Prime?

GKFX Prime is a Straight Through Processing (STP) broker that offers clients direct access to interbank markets without the need for a dealing desk or human intervention. This means that trades are executed instantly and efficiently without any conflict of interest between the broker and the client.

Pros & Cons

Is GKFX Prime Safe or Scam?

As GKFX Prime is an unregulated broker, its reliability may be a concern for some traders.

Heres the revised table without the last column:

Notes:

• The “Suspicious Clone” status indicates that the claimed licenses might not be authentic and could be falsified.
• Traders are strongly advised to independently verify these claims with the respective regulatory authorities.

Market Instruments

GKFX Prime offers 400+ financial instruments to trade, including forex, commodities, indices, stocks, and cryptocurrencies.

Forex: over 50 currency pairs, including major, minor, and exotic pairs.

Commodities: including gold, silver, oil, and natural gas.

Indices: over 20 global indices, including popular indices like the S&P 500, FTSE 100, and DAX 30.

Stocks: over 300 stocks from companies listed on exchanges in the US, UK, Germany, and France.

Cryptocurrency: including Bitcoin, Ethereum, and Litecoin.

Account Types

Apart from free demo accounts, there is a large variety of live trading accounts available at GKFX Prime, and each one is tailored to the specific requirements of the clients.

A trader's risk appetite, the quantity of their initial investment, and the amount of free time they have daily to devote to trading the Forex market are all important considerations when deciding which account type will best suit their needs.

The account types include the following: Standard Fixed, Standard Variable, VIP Variable and ECN Zero. Additionally, Islamic accounts are available for clients who follow Sharia laws. There is no minimum deposit requirement for Standard Fixed, Standard Variable and ECN Zero accounts, while $5,000 for VIP Variable accounts.

Leverage

The maximum leverage offered by GKFX Prime is 1:400. However, the leverage available to you may vary depending on your location and the regulatory restrictions in place.

Spreads & Commissions

Different account types have different trading conditions. Specifically, Standard Fixed accounts have spread from 1.8 pips and no commissions; Standard Variable accounts have spread from 1.2 pips and no commissions; VIP Variable accounts have spread from 0.6 pips and no commissions; ECN Zero accounts have spread as low as 0.0 pips but have to pay a commission of 10/lot.

Below is a comparison table about spreads and commissions charged by different brokers:

Trading Platforms

GKFX Prime offers the MetaTrader4 (MT4) and MetaTrader5 (MT5) trading platforms, which are popular and widely used platforms among traders. They provide access to a range of tools and features, including advanced charting, technical analysis tools, automated trading capabilities, and the ability to customize and use third-party indicators and trading algorithms.

They are both available for desktop, web, and mobile devices, making it convenient for traders to access their accounts and trade from anywhere at any time. Additionally, GKFX Prime offers a VPS (Virtual Private Server) service to clients who require faster and more reliable connection to the MT4 and MT5 platforms.

Deposits & Withdrawals

While there is no minimum deposit requirement with GKFX Prime, we advise putting up at least five dollars so that you have more flexibility and a higher chance of building positions large enough to make a difference in the markets. The company offers quick deposit and withdrawal alternatives to GKFX Prime traders so that regular traders can have more faith in the platform and gain more market access.

Credit cards (Visa, MasterCard and Maestro), bank transfers and e-wallets such as Neteller and Skrill are all acceptable methods of payment, so long as the buyer has provided the necessary “know your customer” papers to comply with AML regulations. The most common of them is a photocopy of your passport and some form of the recent bill showing your current address.

Credit cards and bank transfers are both acceptable withdrawal methods. Transfers made with a credit card take three to five business days to process, while wire transfers can take anywhere from one to five days. Withdrawal is free of charge.

GKFX Prime minimum deposit vs other brokers

GKFX Prime Money Withdrawal

To withdraw funds, clients need to log in to their account, go to the “Withdrawal” section, select the preferred withdrawal method, and follow the instructions provided. It's worth noting that GKFX Prime may require additional documentation for verification purposes before processing the withdrawal request.

Bonus & Fees

GKFX Prime claims to offer a 100% welcome bonus and a 50% re-deposit bonus. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task.

Apart from commission fees on the ECN Zero account, there are no other fees charged.

See the fee comparison table below:

Customer Service

GKFX Prime offers customer support in multiple languages through various channels including live chat, phone, and email. Their customer support is available 24/5, which means that traders can get assistance during the trading week. Additionally, GKFX Prime provides support through social media platforms such as Facebook, Twitter, LinkedIn, Instagram and YouTube.

The broker also provides an FAQ section and educational resources on its website to assist traders. Overall, GKFX Prime has a good reputation for customer support.

Frequently Asked Questions (FAQs)