BDSwiss

FAQ: General

What can I trade?

With BDSwiss you can trade four different categories of underlying assets. We offer CFDs for currency pairs, commodities, indices and stocks.

For a full list of the underlying assets we offer click HERE.

Which time zone does BDSwiss use?

BDSwiss itself uses the time zone GMT+1, which is subject to DST. Prices displayed on the MetaTrader 4 trading platform refer to the current server time, which is measured with GMT+2.

How safe is BDSwiss?

BDSwiss uses the internationally accepted security system SSL (Secure Sockets Layer), which encrypts all payments by credit card over the internet. This system runs automatically, and you will receive an automatic notice if your browser does not support this protocol. In accordance with EU regulations, customer deposits up to €20,000.00 are secured by the Cypriot Investment Compensation Fund, in case of insolvency of the company.

Is my personal information safe with you?

Yes, your data is 100% safe with us. Protecting your personal information is very important to us. All customer data is encrypted with the latest security software and is highly protected. Your data will be kept strictly confidential and not shared with third parties. For further details on data protection please click Here.

What documents qualify for my “proof of residence”?

As proof of residence, qualifying documents include a residency registration form or a bill which is not older than six months which is addressed to your current residence (eg. electricity, gas or telephone/internet).

Why do I need to submit an internationally valid identity card?

BDSwiss is a regulated company in the the financial sector. For this reason, we are legally obligated to observe certain safety standards. These include in particular rules regarding the Anti Money Laundry (AML) protocol and prevention of terrorist financing.

For this reason, every customer who wishes to trade with BDSwiss must be positively identified. This is usually done with a copy/scan of a valid international identity card and a residency registration form. Instead of a residency registration form, customers may also submit a copy of a bill (electricity, gas or rent) where the residency address is clearly visible. This must not be older than six months.

What is a SWIFT Code?

A SWIFT code is a unique identification code for banks, which is used for interbank transfers. Your bank’s SWIFT code can be found on the homepage of your bank or can be obtained from a bank employee. A SWIFT code must always contain 11 characters, if your SWIFT code has fewer, substitute the missing characters with a capital “X”.

What are the advantages of trading with BDSwiss?

As a BDSwiss customer you have an All-In-One-Account and can decide for yourself what you want to trade. Trade CFDs/Forex or Binary Options. One account for all financial products.

BDSwiss customers get access to comprehensive training materials to help you optimize your trading strategies. Learn from the experts with the Education Center, online webinars, live seminars, market news, economic calendar and much more. BDSwiss Holdings PLC is regulated and approved by the CySEC (License number 199/13). Click here for more information. No Minimum Deposit for BDSwiss Forex. €200.00 minimum deposit for BDSwiss Binary. Professional Trading software, extended trading hours and much more await you as a customer with BDSwiss. Click here now and open your account in less than 3 minutes.

How do I register with BDSwiss?

The registration process is very simple:

  • On the Homepage click on the button marked “Sign Up“.
  • Fill in the required fields.
  • Submit the form
  • Fill out the questions regarding your level of knowledge
  • The next step is to upload a scanned copy of an internationally valid identity card as well as your proof of residence document. (this can also be done at a later time).
  • You’re done and will receive a welcome email with your username and password. Welcome to BDSwiss Binary!

How can I get in touch with BDSwiss?

Write an email to: [email protected] or contact us at one of our regional telephone numbers.

What should I do if I forget my password?

You can use the forgot password function. Enter your email address and your password will be sent to you automatically. If you are having a problem with your password, please contact us via email by writing to [email protected] or contact us via one of our regional telephone numbers.

How can I update my personal information?

You can update your personal information by clicking Here.

Why are some of the prices different between BDSwiss Binary and BDSwiss Forex?

A detailed explanation of possible price differences can be found HERE.

FAQ: Trading Account

Do I have to pay anything for my BDSwiss Trading Account?

No, a Trading Account with BDSwiss is free. A full list of all our charges associated with trading CFDs can be found HERE.

Which currency can I use for trading?

As a rule, the accounts are held exclusively in the Euro. In some regions, you can alternatively select the USD.

Which leverage does BDSwiss offer?

With BDSwiss you can trade with leverage up to 1:400.

Are there limits to deposits/withdrawals?

No. Deposits and withdrawals have no maximum limit.

Can I lose more money than I deposited?

No, as a BDSwiss Forex customer, your account balance can not fall below zero. When trading CFDs with BDSwiss Forex, BDSwiss will not expect you to compensate them if your account balance would fall into the negative.

How can I cancel a withdrawal?

If you want to cancel your withdrawal and have your money placed back into your trading account, you have the option to cancel a withdrawal. This is particularly useful if your withdrawal would cause you to have insufficient funds in your account but you wish to invest in an option. To cancel a withdrawal request, please contact us via email by writing to [email protected] or contact us via one of our regional telephone numbers.

How can I deposit money into my account?

Under the Account tab, simply click on “Deposit Funds“. BDSwiss offers a wide variety of deposit methods such as credit card, bank transfer, direct deposit, Skrill and many more.

FAQ: CFD

What is a CFD?

A CFD is also referred to as a Contract for Difference. This means you are trading based on the price development of a specific underlying asset. The difference between the price at the opening of your position and at the closing, in addition to the investment direction and number of traded standard contracts determine the amount of your profit or loss. More information about CFDs can be found HERE.

Where can I find the trading hours for various underlying asset?

The exact trading hours, displayed in GMT+1, for each underlying asset can be found by clicking HERE.

What amount of money can I trade with CFDs?

With a CFD, there are no fixed sums. By placing your order, you determine how much value is attributed to one pip. While your position is open, your profit or loss will be measured on hand from this value. Before opening a position, please make sure that you are aware of all the risks associated with CFD trading. Click HERE to see our Risk Disclosure. For a list of the most important CFD trading terms click HERE. For a profit/loss calculation example click HERE.

Are there minimum deposit/withdrawal requirements?

CFD trading does not require any minimum deposit. However, withdrawals have a minimum requirement of €100.00, withdrawals under this amount are subject to a processing fee of €25.00.

FAQ: Settlement of positions and orders

When will my position be automatically closed?

Your position will be automatically closed when your equity amounts to 20% of your required margin. This occurs when your open position(s) have current losses, which amount to a large portion of your equity. Please make sure that you always have sufficient capital in your account in order to prevent automatic closure of your position(s). A detailed example can be found HERE.

How are Stop-Loss or Take-Profit orders executed?

Both of these order types are designed to close an open position automatically. With a Stop-Loss, losses are limited and with a Take-Profit, profits are secured. As soon as the market price reaches either the Stop-Loss or Take-Profit level, the position will be automatically closed at the current market price.

However, this does not mean that the pre-defined exit price will correspond exactly to the actual exit price for either order type. If the market price jumps above/below the pre-defined exit level, the position will be closed at the next available market price. This can lead to increased profits or losses. If you’d like to know more, please read the entry “Slippage” in our Glossary.

What is the difference between a Stop and a Limit order?

A Stop order states that you anticipate the progression of a trend after the order level. A Limit order states that you anticipate the reversal of a trend at the order level. More information can be found HERE.

What do BUY (LONG) and SELL (SHORT) mean?

You would select BUY if you are of the opinion that the price of the underlying asset is going to rise. In financial terms, this is referred to as “Going Long”. You would select SELL if you are of the opinion that the price of the underlying asset is going to fall. In financial terms, this is referred to as “Going Short”.

How can I manage my risk?

The most important thing when trading CFDs is understanding the risks and how to manage them. A well thought-out strategy should be the cornerstone, because arbitrary uncontrolled trading can quickly have negative consequences. A solid strategy includes always setting Stop-Loss and Take-Profit levels. To be successful in the long term, you must know how much loss your strategy can tolerate and continuously set Stop-Loss and Take-Profits levels.

How many contracts can I trade?

There is no definitive answer for this question. The maximum number is always dependent on your account balance. It is up to your attitude and strategy to determine how much risk you are willing to take. Below you will be presented a few examples which follow the 3% rule. It is our feeling that a single trade should not equal more than 3% of your trading account balance. A risk of 3% is always determined by the number of contracts and the Stop-Loss level.

The following example is for informational purposes only and should not be perceived as trading advice.

Asset Account Balance Number of standard contracts Stop-Loss Loss
EUR/USD $10,000 1 30 Pips $300
EUR/USD $10,000 5 6 Pips $300
Gold $10,000 1 30 Pips $300
Apple $10,000 2 15 Pips $300
EUR/USD $1,000 0.1 30 Pips $30
EUR/USD $1,000 1 3 Pips $30
Gold $1,000 2 1.5 Pips $30
Apple $1,000 0.1 30 Pips $30

Which Spreads does BDSwiss offer?

The Spread is a function of the underlying asset. Our lowest Spread is 1.2 pips. A detailed list of available underlying asset can be found HERE.

What is a Pip?

A Pip is the unit in the trade in which the price change of the underlying asset is specified. The size of a Pip depends on the traded underlying asset and its specified price. Further information can be found in our Glossary.

How is Rollover calculated?

A detailed explanation regarding Rollovers, or the calculation of interest can be found Here.

Can my CFD expire?

As a rule, CFDs do not have an expiration time, unless you are trading in futures of some selected commodities.

CFDs only end when:

  • You as a trader close your position or
  • Your account balance is no longer sufficient to keep the position open.

For more information regarding when your position may be closed automatically, please click HERE.

Where can I find an overview of all fees?

A detailed overview of how fees are calculated and when they are applied can be found HERE.

FAQ: Software

Do I need to download a special software?

Yes. For CFD trading you need the Meta Trader 4 software, which can be downloaded for free by clicking HERE.

Are there any fees I have to pay to trade on the MetaTrader 4 platform?

There are no fees for trading on the MetaTrader 4 platform. Please be aware that there are normal fees associated with trading CFDs.

Where can I find my account balance on MetaTrader 4?

At the bottom of your screen, you will see a number of different tabs. Under the tab “trade” you will find your actual account balance, available margin capital and actual profit/loss.

Where can I find my trading and account history on MetaTrader 4?

At the bottom of your screen, you will see a number of different tabs. Under the tab “account history” you will find all previous activities and transactions.

Does BDSwiss offer micro lots, or positions that are smaller than a standard contract?

Yes. On the order form, you can determine the volume you would like to trade. This can be selected from a pre-defined list or you can enter your desired trading amount in the field provided.

Important: MetaTrader 4 uses the Anglo-American writing style, meaning that values containing a decimal are written with a point and not a comma.

Why does my position open with a negative value?

The reason for this is the Spread! For more information about this, please click HERE.

Regardless of whether you invest in rising or falling prices, you always have to sell at the bid price and buy at the ask price. The difference between these two prices is called the spread. It is this difference that results in your position opening with a negative value.

My position is worth less or my payout was less than I expected- why is this?

The exact profit or loss of your CFD is dependent on several factors. The most important of these are the number of contracts, the leverage, the difference between entry and exit price, the position size and the exchange rate. Trading in currency pairs is always taxed in the second currency. For example, you trade in the currency pairs USD/JPY, the position is denoted in Japanese Yen. If your trading account is in Euros, the USD/JPY position will be calculated with the current exchange rate with the Euro, for this reason, a discrepancy in profits or loss can occur.

How do I place an order on MetaTrader 4?

There are many different ways to place an order on MetaTrader 4. Please be aware that the following examples and graphics are for illustration purposes only.

From the market overview

On the left-hand side of the screen you will find the market overview with all tradeable markets.

forex-faq-1

By double clicking on a market, an order window will open automatically.

In an active chart

Click on the chart of your desired underlying asset, which will cause this chart to become active. Once a chart is active, you can open an order window by pressing F9.

The order window

FOREX FAQ trade window_EN

1.Selection of underlying asset (required)

A drop-down menu gives you the opportunity to select your desired underlying asset.

2. Volume (required)

From a pre-defined list, you can select the number of standard contracts (lots) you wish to trade, or simply insert your preferred number. Always make sure that the size is correct for what you wish to trade.

3. Stop-Loss and Take-Profit (optional)

To successfully place an order, it is not necessary to determine a Stop-Loss or a Take-Profit. However, you do have the option to set these levels so that your position will close automatically upon reaching certain levels. A detailed description can be found HERE.

4. Type (optional)

By default, the “instant execution” feature is active. If you wish to place an order only at a certain price, you need to select “pending order”. A detailed description can be found HERE.

5. Sell/Buy (required)

With the buttons Sell and Buy, you define your desired position, if you believe that the price will fall or rise respectively.

Important: By clicking one of the two buttons, you will complete your order and your position will be opened immediately.

How can I change/delete my order?

At the bottom of your screen under the tab “trade” you will find all of your open positions or outstanding orders. By double clicking on an order, you will have the opportunity to edit or delete the order.

How can I close my position?

An open position can be closed at any time, as long as the market for the underlying asset is open. The standard order window opens automatically when you double click on the position.

FOREX FAQ close trade window_DE

Here you will find a yellow button, which when clicked will close your whole position. If you would only like to close part of your position, you will first need to define, in terms of volume, how many standard contracts should be closed.

Important: Clicking on the opposite position using the Sell or Buy buttons does not close your position but rather opens a new position.

Risk Warning: Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk.