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The BDSwiss mobile app is very simple and lightweight. There are 200+ financial assets available for trading through the BDSwiss app.
BDSwiss is a forex and CFD broker that has been operating since 2012. This broker holds 4 regulations: FSC Mauritius, FSA Seychelles, FSCA, and MISA (Mwali). There are more than 7 BDSwiss offices spread across 180 countries worldwide.
BDSwiss offers forex trading and CFD investment services at competitive prices in the market. Not many know that this broker also has a trading application that can facilitate clients to trade simply anytime and anywhere.
But is the BDSwiss mobile application right for you? It seems like this application is suitable for beginner traders who have not yet traded with real money but is less suitable for advanced-level traders. Why is that?
To answer these questions, let's review the entire BDSwiss trading application together.
A Quick Glance to BDSwiss App
BDswiss broker launched its trading application on December 3, 2017, to facilitate clients who want to trade on the go. So, this application is now 7 years old. The application only has one language, which is English.
Although it may seem simple, this is a minor drawback of the BDswiss mobile app because several other broker trading applications offer more language options, especially languages that do not use the alphabet, such as Chinese, Japanese, Korean, and Arabic.
The application interface is quite simple, even arguably too simple. However, the navigation is smooth, and the loading time is not long. The dominant color of the application is white.
You can download the BDswiss mobile application from both the Play Store and the Apple Store. On the Play Store, this application only weighs around 34 MB. The application logo is a red triangle with a white plus sign inside, similar to its broker logo.
BDSwiss Feature Highlights
Based on the explanation above, this application appears simple and user-friendly for phones with limited memory. But what about its features?
A trading application certainly should provide sufficient trading services to fulfil the purpose of trading on the go. Here are the features of the BDSwiss mobile app, along with a detailed explanation.
Access to 100+ Trading Instruments
There are many instruments that you can trade through the BDSwiss mobile app, including forex, cryptocurrencies, commodities, shares, and indices. Here are the numbers:
- Forex: 49 pairs, including major, cross, and exotic pairs
- Cryptocurrencies: 22, including BTC, DOGE, ETH, LTC, XRP, and others
- Commodities: 6, including crude oil, gold, silver, and platinum
- Shares: 127, including popular stocks like Microsoft (MSFT), Google (GOOGL), Netflix (NFLX), Starbucks (SBUX), and many more
- Indices: 11, including NAS100, SPX500, HKG, and others
All of these instruments can be traded using just one application. You can also view real-time prices in the list. To view the charts, you can simply click on the instrument name. However, you need to make a deposit first. The minimum deposit required to start trading with BDSwiss is $10, which is relatively low.
The advantage of the BDSwiss app is that it provides information about whether asset prices are rising or falling. If the price is rising, the number below the asset name will be displayed in green; if it's falling, it will be displayed in red with a negative sign. This certainly helps traders in reading price movements in the market.
You can also change the display of the asset list by clicking on the chart icon located in the top left corner. If you click on it, the display will change to a line chart, allowing you to see an overview of the trend occurring in an asset.
Easy Deposit Without Additional Fees
In addition to the availability of various assets, BDSwiss also allows you to easily make instant deposits through the application without any fees, regardless of the method you choose.
There are 5 deposit method options available: Skrill, crypto, cryptocurrencies, Visa/Mastercard, and debit/credit card. All of them are processed instantly, so you don't have to wait long to start trading. This certainly supports the main goal of the mobile app as a platform for simple trading anytime and anywhere.
However, the deposit methods provided tend to be limited. This could be a problem for you if you don't usually use the methods mentioned above.
Also, there are no payment options through mobile banking transfers and e-wallets. These two methods are currently popular and are the favorite methods of traders nowadays. Many other broker applications also offer more options than this.
Open and Verify Your Trading Account
After you have finished downloading the BDSwiss app, you can immediately open a trading account. It's easy, just click "Sign Up" when you first open the app. Enter your name, email, country, phone number, and password.
After that, you can proceed with verification by completing your profile, including your address, financial conditions, and required supporting documents in the "More" menu.
If you haven't completed verification, then your account will automatically be in demo mode. You can use this to practice if you are still a beginner. If you already have a BDSwiss trading account, you just need to click "Log In" and enter your identity.
Unfortunately, the BDSwiss trading app does not seem to allow you to open multiple accounts and group them into one. After logging in or signing up, there is only an option to switch to a demo account or a real account.
There is no menu to add accounts either. For those of you who want to diversify risks by having more than one account, this is a major consideration.
See Also:
Forex Calculator
The BDSwiss app also features a forex calculator that is quite helpful for beginner traders. In the "More" menu, click on "Trading Tools", then select "Forex Calculator". Once done, your screen will change as follows.
As you can see, there are 4 types of calculators available. There is a margin calculator, pip calculator, swap calculator, and conversion calculator.
The margin calculator can help you with calculating the required margin for opening a position. The pip calculator can calculate the value of a pip movement based on your selected currency pair and trade size.
Meanwhile, the swap calculator can determine the overnight financing charges or credits for holding positions overnight. Then, the conversion calculator is useful for calculating the conversion rate for your deposit and withdrawal.
Beginner-Friendly Education Services
In the "Trading Tools" menu, you will also find a tab titled "Forex Academy". This is a dedicated menu to access trading education services from BDSwiss.
It includes a forex glossary, basic lessons, webinars, VIP sessions, ebooks, and seminars. The services are quite comprehensive for beginner traders who still need to learn while trading.
The forex glossary contains words and terms related to the trading world. If you come across a difficult term that you don't understand, you can simply look it up in this forex glossary.
Basic lessons are written steps that you need to follow if you want to trade forex. For example, you need to open an account first, deposit funds, and so on.
Webinars at BDSwiss are held free of charge. You just need to register for the webinar schedule you want to attend. Currently, there are two language options for BDSwiss webinars: English and German.
Moreover, the webinars are conducted by various seasoned speakers. There is Frank Walbaum who often conducts webinars in English and German, Stuart Cowell, Marios Kyriakou, and Danres Jane Ebbah from BDSwiss Philippines. Don't forget to download the ebooks provided for free by BDSwiss as well.
If you want to receive materials directly, try attending one of the BDSwiss seminars. Based on recent seminar data, BDSwiss has conducted seminars in various countries such as the Philippines, Nigeria, Thailand, Malaysia, and so on.
Should I Use the BDSwiss Trading Platform?
If you are a beginner and want to learn forex while demo trading, the BDSwiss mobile app is suitable for you because it provides ample learning materials. With ebooks, webinars, seminars, and a glossary all in one app, BDSwiss traders can enjoy free education.
Unfortunately, this app is less suitable for intermediate to professional traders because there are no built-in indicators on the trading chart. There are also no features supporting news trading, such as an economic calendar and news aggregation.
Furthermore, as mentioned earlier, the available deposit methods are also limited. If you are accustomed to using a particular method and find that it is not available in the app, it's better not to force yourself. You should choose the method that makes you most comfortable.
In terms of ratings, the rating of this app on the Play Store is quite doubtful as it only received 2.7 stars out of 5. There are over 1,000 reviews for the BDSwiss app, including some negative user reviews.
In addition to negative reviews, the BDSwiss trading app also receives positive reviews, as follows.
The rating and reviews of the BDSwiss app do not fully support the excellence of this application. If you are a beginner who has not yet traded with real money, this app is still quite good. You can simply use the demo account and take advantage of the available educational services.
However, suppose you are an intermediate to advanced trader. In that case, it is better to choose another mobile app because many offer more deposit methods, have built-in indicators, and have higher ratings.
BDSwiss broker is one of the top companies established in 2012 that has served no less than one million clients from 180+ countries. It offers various trading services, starting from diverse tradable instruments, trading tools, account types, and educational content. Not only that, the broker also offers fast account opening and reliable 24/5 customer support for all clients.
