BD Swiss Review
Overall, BDSwiss is considered low-risk, with an overall Trust Score of 83 out of 100. BDSwiss is licensed by one Tier-1 Regulator (high trust), one Tier-2 Regulator (average trust), and two Tier-3 Regulators (low trust). BDSwiss offers four different retail trading accounts namely a Classic Account, Premium Account, VIP Account, and a RAW Account. BDSwiss is currently not regulated by the Bank of Tanzania.
- Louis Schoeman
Updated : March 27, 2023
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Min Deposit
233200 TZS / $100
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
BDSwiss At a Glance
| 🏛 Headquartered | Seychelles |
| Global Offices | Cyprus, Mauritius |
| Local Market Regulator in Tanzania | Bank of Tanzania (BoT) |
| Foreign Direct Investment in Tanzania | $0.99B in 2019 |
| Foreign Exchange Reserves in Tanzania | 6.714 billion US dollars in 2021 |
| 🏙 Local office in Dodoma? | No |
| Governor of SEC in Tanzania | None, Benno Ndulu is the Central Bank Governor in Tanzania |
| ✅ Accepts Tanzanian Traders? | Yes |
| 🗓 Year Founded | 2012 |
| 📞 Tanzanian Office Contact Number | None |
| 🤳 Social Media Platforms | • Facebook • YouTube • Blog • Telegram |
| ⚖️ Regulation | CySEC, FSC, BaFIN, FSA |
| 🪪 License Number | • Cyprus – 199/13 • Mauritius – C116016172 • Germany – 10134687 • Seychelles – SD047 |
| ⚖️ BoT 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 |
| 📲 Order Execution | Instant, Market |
| 📊 Average spread | From 0.3 pips |
| 📞 Margin Call | 50% |
| 🛑 Stop-Out | 20% |
| ✅ Crypto trading offered? | Yes |
| 💰 Offers a NAD Account? | No |
| 👨💻 Dedicated Tanzanian Account Manager? | No |
| 📊 Maximum Leverage | 1:1000 |
| 🚫 Leverage Restrictions for Kenya? | No |
| 💰 Minimum Deposit (NAD) | 230,000 TZS or an equivalent to $100 |
| ✅ Tanzanian Shilling Deposits Allowed? | No, only USD, GBP, EUR |
| 📊 Active Tanzanian Trader Stats | 50,000+ |
| 👥 Active Tanzanian-based BDSwiss customers | Unknown |
| 💳 Tanzanian Daily Forex Turnover | Unknown, overall Forex Daily Trading Volume is over $6.6 Trillion |
| 💵 Deposit and Withdrawal Options | • Bank wire transfer • Debit Cards • Credit Cards • Skrill • Neteller |
| 🏦 Segregated Accounts with Tanzanian Banks? | No |
| 📊 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • BDSwiss Mobile • BDSwiss Web |
| ✔️ Tradable Assets | • Forex • Commodities • Shares • Indices • Cryptocurrencies |
| 💸 Offers USD/TZS currency pair? | No |
| 📈 USD/TZS Average Spread | N/A |
| 📉 Offers Tanzanian 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 |
| 👥 Tanzanian-based customer support? | No |
| ✅ Bonuses and Promotions for Tanzanians | None |
| 📚 Education for Tanzanian beginners | Yes |
| 📱 Proprietary trading software | Yes |
| 💰 Most Successful Tanzanian Trader | Michael Amushelelo (Net Worth Unknown) |
| ✅ Is BDSwiss a safe broker for Tanzanians? | Yes |
| 📊 Rating for BDSwiss Tanzania | 9/10 |
| 🤝 Trust score for BDSwiss Tanzania | 78% |
| 👉 Open an account | 👉 Open Account |
BDSwiss Review – 22 key points quick overview:
BDSwiss Overview- BDSwiss Regulation and Safety of Funds
- BDSwiss Awards and Recognition
- BDSwiss Account Types and Features
- How to open an Account with BDSwiss
- BDSwiss Vs eToro Vs Plus500 – Broker Comparison
- BDSwiss Trading Platforms
- BDSwiss Range of Markets
- Broker Comparison for Range of Markets
- BDSwiss Trading and Non-Trading Fees
- BDSwiss Deposits and Withdrawals
- How to Deposit Funds with BDSwiss
- BDSwiss Fund Withdrawal Process
- BDSwiss Education and Research
- BDSwiss Bonuses and Promotions
- How to open an Affiliate Account with BDSwiss
- BDSwiss Affiliate Program Features
- BDSwiss Customer Support
- BDSwiss Corporate Social Responsibility
- Verdict on BDSwiss
- BDSwiss Pros and Cons
- Frequently Asked Questions,
BDSwiss Overview
👉 BDSwiss Accepts Tanzanian Clients and has an average spread from 0.3 pips with the commission of 0.15%. BDSwiss has a maximum leverage ratio up to 1:1000 and there is a demo and Islamic account available. MT4, MT5, and BDSwiss platforms are supported. BDSwiss is headquartered in Seychelles and is regulated by CySEC, FSC, BaFIN, and FSA.
👉 While BDSwiss does not accept Tanzanian Shilling deposits or provide an associated account, Tanzanian traders can fund their trading accounts with other currencies, including USD, GBP, or EUR.
👉 Multi-Award-Winning BDSwiss is well-known for its broad range of markets, sophisticated and trustworthy trading systems, and substantial educational tools and publications.
👉 BDSwiss is a well-known broker due to its extensive trading alternatives and favorable trading conditions. Over a million customers have registered to use the broker’s trading systems, establishing it as one of the best in the industry.
👉 BDSwiss’ monthly trading volume tops $84 billion, according to statistics on the company’s year-to-date trading operations. BDSwiss has over 17,500 affiliate partnerships, demonstrating the BDSwiss’ trustworthiness and creativity as an online broker.
👉 This BDSwiss review for Tanzania will provide local retail traders with the details that they need to consider whether BDSwiss is suited to their unique trading objectives and needs.
BDSwiss Distribution of Traders
👉 BDSwiss currently has the largest market share in these countries:
➡️️ Germany – 16.9%
➡️️ Italy – 10.3%
➡️️ Mexico – 7.2%
➡️️ Malaysia – 5.8%
➡️️ Brazil – 5.1%
Popularity among traders who choose BDSwiss
🥇 BDSwiss is a well-known global broker that accepts traders from all around the globe. BDSwiss does not occupy a noticeable percentage market share in Tanzania, but the broker still forms part of the Top 100 brokers for Tanzanian traders.
BDSwiss Regulation and Safety of Funds
BDSwiss Regulation in Tanzania
While BDSwiss is not regulated by the Bank of Tanzania (BoT) to provide its services to Tanzanian traders, it is governed by other credible institutions that monitor its operations. BDSwiss is a subsidiary of a worldwide conglomerate headquartered in Switzerland.
BDSwiss Global Regulations
BDSwiss is a subsidiary of the BDSwiss Group and is a market leader in FX and CFD trading across many asset classes. BDSwiss is a renowned brand with award-winning conditions, industry-leading trading systems, and affordable pricing.
BDSwiss does not have a permanent office in Dodoma, Tanzania, but does have locations in over ten countries. BDSwiss is regulated and authorized to do the following:
️ BDSwiss Holding Ltd is regulated in Cyprus under license number 199/13 by the Cyprus Securities and Exchange Commission (CySEC).
️ BDS Markets is licensed by the Financial Services Commission as an investment dealer under license number C116016172.
️ BDSwiss GmbH is a BaFIN-registered and regulated brokerage firm with the registration number HRB 160749B.
️ BDS Ltd is licensed and regulated in Seychelles by the Financial Services Authority (FSA) under license number SD047.
BDSwiss Client Fund Security and Safety Features
BDSwiss Holding PLC is required by the EU’s Markets in Financial Instruments Directive (MiFID) to produce regulatory disclosures that are more standard throughout the EU’s financial markets.
Because they are regulated investment enterprises, investment services, investment activities, and the operation of regulated markets must all adhere to all relevant European and local rules and regulations.
BDSwiss and its customers have no access to the firm’s funds. They are segregated from other money by a top-tier bank, preventing them from being used for operations expenditures. Every firm should strive to make money withdrawals simple and rapid for its clients.
All client data is secured using innovative security methods and is never shared with third parties.
BDSwiss Awards and Recognition
BDSwiss has won several different industry awards during its time in operation, with the most recent as follows:
➡️ In 2021, BDSwiss won the award for being the “Best FX Education & Research Provider”, issued by the World Finance Awards.
➡️ In 2021, the Global Banking and Finance Awards issued BDSwiss the “Best Mobile Trading Platform in Europe” Award.
➡️ In 2020, BDSwiss won the “Best FX & CFD Provider” award which was issued during the International Investor Awards.
BDSwiss Account Types and Features
BDSwiss offers Tanzanian traders a choice between four live trading accounts namely:
➡️ Classic Account
➡️ Premium Account
➡️ VIP Account
➡️ RAW Account
Additionally, the official website of BDSwiss indicates that a Cent Account is available. However, this account type remains undocumented, suggesting that development work is ongoing.
Tanzanian traders may keep informed about the BDSwiss Cent Account option by subscribing to the broker’s email newsletters or following the firm on social media sites.
BDSwiss Live Trading Accounts
Classic Account
This is a basic trading account that is highly popular with Tanzanian traders of all levels of expertise regardless of their trading style.
| Account Features | Value |
| 📊 Average Spread on EUR/USD | 1.5 pips |
| 📈 Maximum Leverage | 1:500 |
| 💵 Tradable Instruments | Over 250 |
| 💸 Available Assets | • Forex CFDs • Stocks CFDs • Indices CFDs • Commodities CFDs • Cryptocurrencies CFDs |
| 💰 Commissions per round lot | • $2 on Indices • 0.15% on Shares |
| 📞 Margin Call | 50% |
| 🛑 Stop-out level | 20% |
| 💵 Instant Withdrawals offered? | Yes, only on credit cards up to 2,000 €/$/£ |
| 💰 0% fees on Deposits and CC Withdrawal? | Yes |
| 💻 Platforms available | All |
| 🚨 Are trading alerts offered? | Limited Access granted |
| ✔️ AutoChartist Performance Stats offered? | Yes, with a 1,100,000 TZS minimum deposit ($500) |
| 👨💻 Personal Account Manager | Yes, with a 2,300,000 TZS minimum deposit ($1,000) |
| 1️⃣ Priority Service | No |
| 🔧 AutoChartist Standard Tools | Yes |
| 💰 Access to Trading Central? | Yes |
| 📚 Trading Academy and Live Webinars | Yes |
| 👥 Trade Companion offered? | No |
| ☪️ Islamic Account option? | Yes |
| 🥇 VIP Webinars | No |
| 📞 24/5 Customer Service and Support? | Yes |
| 💰 Minimum deposit requirement | 230,000 TZS or an equivalent to $100 |
Premium Account
According to the information in the table below, this is the next account level, which offers further benefits and possibilities to Tanzanian traders.
| Account Features | Value |
| 📊 Average Spread on EUR/USD | 1.1 pips |
| 📈 Maximum Leverage | 1:1000 |
| 💵 Tradable Instruments | Over 70 |
| 💸 Available Assets | • Forex CFDs • Commodities CFDs |
| 💰 Commissions per round lot | None |
| 📞 Margin Call | 50% |
| 🛑 Stop-out level | 20% |
| 💵 Instant Withdrawals offered? | Yes, only on credit cards up to 2,000 €/$/£ |
| 💰 0% fees on Deposits and CC Withdrawal? | Yes |
| 💻 Platforms available | BDSwiss Web, BDSwiss Mobile, MetaTrader 4 |
| 🚨 Are trading alerts offered? | Limited Access granted |
| ✔️ AutoChartist Performance Stats offered? | Yes, with a 1,100,000 TZS minimum deposit ($500) |
| 👨💻 Personal Account Manager | Yes, with a 2,300,000 TZS minimum deposit ($1,000) |
| 1️⃣ Priority Service | No |
| 🔧 AutoChartist Standard Tools | Yes |
| 💰 Access to Trading Central? | Yes |
| 📚 Trading Academy and Live Webinars | Yes |
| 👥 Trade Companion offered? | No |
| ☪️ Islamic Account option? | Yes |
| 🥇 VIP Webinars | No |
| 📞 24/5 Customer Service and Support? | Yes |
| 💰 Minimum deposit requirement | 230,000 TZS or an equivalent to $100, |
VIP Account
There are other types of accounts accessible, but the BDSwiss Professional account is particularly created for professional traders and investors who are searching for the finest trading conditions and extra features available on the market today.
| Account Features | Value |
| 📊 Average Spread on EUR/USD | 1.1 pips |
| 📈 Maximum Leverage | 1:500 |
| 💵 Tradable Instruments | Over 250 |
| 💸 Available Assets | • Forex CFDs • Stocks CFDs • Indices CFDs • Commodities CFDs • Cryptocurrencies • CFDs |
| 💰 Commissions per round lot | 0.15% on Shares |
| 📞 Margin Call | 50% |
| 🛑 Stop-out level | 20% |
| 💵 Instant Withdrawals offered? | Yes, only on credit cards up to 2,000 €/$/£ |
| 💰 0% fees on Deposits and CC Withdrawal? | Yes |
| 💻 Platforms available | All |
| 🚨 Are trading alerts offered? | VIP Access |
| ✔️ AutoChartist Performance Stats offered? | Yes |
| 👨💻 Personal Account Manager | Yes |
| 1️⃣ Priority Service | Yes |
| 🔧 AutoChartist Standard Tools | Yes |
| 💰 Access to Trading Central? | Yes |
| 📚 Trading Academy and Live Webinars | Yes |
| 👥 Trade Companion offered? | Yes |
| ☪️ Islamic Account option? | Yes |
| 🥇 VIP Webinars | Yes |
| 📞 24/5 Customer Service and Support? | Yes |
| 💰 Minimum deposit requirement | 6,900,000 TZS or an equivalent to $3,000 |
Raw Account
An account designed for scalpers, day traders, and other high-volume dealers who trade at a quick speed.
| Account Features | Value |
| 📊 Average Spread on EUR/USD | 0.3 pips |
| 📈 Maximum Leverage | 1:500 |
| 💵 Tradable Instruments | Over 250 |
| 💸 Available Assets | • Forex CFDs • Stocks CFDs • Indices CFDs • Commodities CFDs • Cryptocurrencies CFDs |
| 💰 Commissions per round lot | • $2 on Indices • $5 on all forex currency pairs • 0.15% on Shares |
| 📞 Margin Call | 50% |
| 🛑 Stop-out level | 20% |
| 💵 Instant Withdrawals offered? | Yes, only on credit cards up to 2,000 €/$/£ |
| 💰 0% fees on Deposits and CC Withdrawal? | Yes |
| 💻 Platforms available | BDSwiss Mobile, BDSwiss Web, MetaTrader 4 |
| 🚨 Are trading alerts offered? | VIP Access |
| ✔️ AutoChartist Performance Stats offered? | Yes |
| 👨💻 Personal Account Manager | Yes |
| 1️⃣ Priority Service | Yes |
| 🔧 AutoChartist Standard Tools | Yes |
| 💰 Access to Trading Central? | Yes |
| 📚 Trading Academy and Live Webinars | Yes |
| 👥 Trade Companion offered? | Yes |
| ☪️ Islamic Account option? | No |
| 🥇 VIP Webinars | Yes |
| 📞 24/5 Customer Service and Support? | Yes |
| 💰 Minimum deposit requirement | 11,600,000 TZS or an equivalent to $5,000 |
BDSwiss Base Account Currencies
Tanzanian traders may only open a trading account with BDSwiss using USD, GBP, or EUR as their base account currency.
In comparison to many other offshore brokers, this is a discouraging limitation since it implies that Tanzanians with TZS bank accounts may have to pay conversion expenses on all deposits and withdrawals.
BDSwiss Demo Account
A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
There is a certain degree of risk involved when trading financial markets and BDSwiss offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
BDSwiss also offers a Forex or CFD “Demo Account,” which allows inexperienced traders to put their trading talents to the test on risk-free Demo accounts with changeable virtual balances of up to 100,000€/$/£ in value.
BDSwiss customers may open any kind of account provided by BDSwiss, including Classic, Raw, VIP, and Premium (under FSC only) as a Demo Account, allowing them to experiment with the tools, and conditions, and spreads that are available.
BDSwiss Islamic Account
Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
Muslim traders in Tanzania may convert their Classic, Premium, or VIP accounts to Islamic Accounts, which free them from overnight costs.
How to open an Account with BDSwiss
To register an account with BDSwiss, Tanzanian traders can follow these steps:
Step 1 – Go to BDSwiss website to sign up.
➡️ You can click on any buttons on the website to go to the registration page.
Step 2 – Fill in your personal details as requested.
➡️ Provide your personal information in order to complete the registration process.
Step 3 – Submit document requests for validation.
➡️ This is a mandatory step for all traders to complete the registration process.
Step 4 – Receive your login credentials
➡️ Upon approval you will receive the login credentials to start trading with your newly created BDSwiss account.
BDSwiss Vs eToro Vs Plus500 – Broker Comparison
| BDSwiss | eToro | Plus500 | |
| ⚖️ Regulation | CySEC, FSC, BaFIN, FSA | CySEC, FCA, ASIC, FinCEN, FINRA, SIPC, DNB, FSA | ASIC, FMA, FSCA, FCA, CySEC, FSA, MAS |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • BDSwiss Mobile • BDSwiss Web | • eToro proprietary platform | • Plus500 mobile and web-based trading platform |
| 💰 Withdrawal Fee | Yes, <100 EUR withdrawals | Yes | No |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 1,500 NAD | 3128 NAD | 1543 NAD |
| 📈 Leverage | Up to 1:1000 | 1:30 (Retail) 1:400 (Professional | 1:30 |
| 📊 Spread | From 0.3 pips | From 1 pip | 0.8 pips |
| 💰 Commissions | $2 to $5 | None | None |
| ✴️ Margin Call/Stop-Out | 50%/20% | None indicated | None |
| ✴️ Order Execution | Instant/Market | Market/Instant | None |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | In Progress | No | Yes |
| 📈 Account Types | • Classic Account • Premium Account • VIP Account • RAW Account | • Retail Account • Professional Account | • Standard Live Account |
| ⚖️ BoT Regulation | No | No | No |
| 💳 TZS Deposits | No | No | No |
| 📊 Tanzanian Shilling Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/6 | 24/7 |
| 📊 Retail Investor Accounts | 4 | 1 | 1 |
| ☪️ Islamic Account | Yes | Yes | Yes |
Overall Rating
- 4.7/5
Min Deposit
233200 TZS / $100
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
BDSwiss Trading Platforms
BDSwiss offers Tanzanian traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ BDSwiss Mobile
➡️ BDSwiss Web
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4
Because of its innovative technology and user-friendly interface with an abundance of features, the BDSwiss MT4 is ideal for traders of any experience level.
It has real-time quotes, customizable charts with numerous timeframes and various technical indicators, several trade order/execution types, notifications, a news feed, automated trading, and many other features.
In addition, Tanzanian traders can easily carry out in-depth market research and trading thanks to the availability of all necessary instruments.
MetaTrader 5
MetaTrader 5 is the successor of MT4 and offers a few new features, including more complex trading tools and indicators, to help with market analysis and trade, yet the overall layout and feel are like that on MetaTrader 4, giving Tanzanian traders some familiarity.
Advanced order kinds, over 80 technical indicators, over 40 analytical objects, different charting/analytic choices, and more timeframes are among the additional features.
An improved trading experience with MT5 and an expanded selection of trading instruments in additional markets are available to BDSwiss customers.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ BDSwiss Web
MetaTrader 4
BDSwiss’ innovative technology has converted the MetaTrader MT4 platform into a user-friendly trading platform for traders of all skill levels.
BDSwiss’ Forex MT4 offers Tanzanian traders all that they could need to start participating in forex and CFD trading.
Materials and tools are provided for studying the price dynamics of financial instruments, making trades, and amending them, as well as for designing and using automated trading algorithms (also known as Expert Advisors).
MetaTrader 5
The MT5 trading platform from BDSwiss provides Tanzanian traders with a lot more features than MetaTrader 4 does. The BDSwiss MT5 platform contains all the pioneering features of MT4, but it also offers more advanced trading tools and indicators that help traders to maintain more control over their trades and make better decisions based on new and comprehensive research.
BDSwiss Web
In-house BDSwiss WebTrader is a simple, fast, and reliable trading platform that can be used on any browser and operating system without the need for any other software.
Many tools and indications are available, as well as an order window that may be tailored to suit your needs. Additionally, BDSwiss App and MetaTrader 4 are fully interoperable, and BDSwiss Web is available in over 24 languages.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ BDSwiss Mobile
MetaTrader 4
Mobile trading using MetaTrader 4’s BDSwiss app gives Tanzanian traders unrestricted access to a broad variety of financial products. Different MetaTrader 4 functionalities and features have been enhanced for mobile trading from all over the globe.
MetaTrader 5
BDSwiss customers may now trade a wider choice of CFD instruments across several asset classes using the MT5 mobile app, which provides a better trading experience thanks to its adjustable settings, lack of strategy limits, reduced slippage, and lightning-fast order execution.
BDSwiss Mobile
Users of BDSwiss Mobile can effortlessly access, monitor, and manage their trading positions while on the go thanks to an easy user interface. The same market monitoring and trading tools that are available on the web-based platform are also available to Tanzanians
To make deposits and withdrawals, traders may use the trading account dashboard. There are no restrictions on the kind of assets that may be traded. The BDSwiss mobile app may be downloaded from the Android and iOS app stores.
BDSwiss Range of Markets
Tanzanian traders can expect the following range of markets from BDSwiss:
➡️ Forex
➡️ Commodities
➡️ Shares
➡️ Indices
➡️ Cryptocurrencies
Broker Comparison for Range of Markets
| AvaTrade | Exness | JustMarkets | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | Yes | Yes |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | Yes | Yes |
| ➡️️ Options | No | No | Yes |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | No | No |
BDSwiss Trading and Non-Trading Fees
Spreads
The spreads charged by BDSwiss are dynamic, meaning they change based on the kind of account, the financial instrument, and the market conditions of the day. Investors in Tanzania might expect to see the following spreads:
➡️ 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
Commissions
Because of this, BDSwiss charges fees on some accounts and financial products. This list of fees varies by account type and should be considered by traders. Typical commissions that Tanzanian traders can expect include:
➡️ 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
Overnight Fees, Rollovers, or Swaps
When Tanzanian traders leave positions open after 24 hours, they are either debited or credited overnight fees. These are according to the financial instrument being traded, the position size, the holding time, and overall market conditions.
Some typical overnight fees that Tanzanian traders can expect, which are subject to change, include the following:
➡️ GBP/USD – a short swap of -0.7 and a long swap of -6.7
➡️ USD/JPY – a short swap of -10.8 and a long swap of 0.05
➡️ USD/HKD – a short swap of -8.5 and a long swap of -20.0
➡️ USOIL – a short swap of -23.0 and a long swap of -39.0
➡️ XAU/USD – a short swap of -3.5 and a long swap of -8.2
➡️ XAG/USD – a short swap of -0.05 and a long swap of -0.25
➡️ Stocks – a short swap of -2.0 and a long swap of -4.0
➡️ NAS100 – a short swap of -4.1706 and a long swap of -3.2694
➡️ Cryptocurrencies – short swaps of -100% and long swaps of -100%
Deposit and Withdrawal Fees
BDSwiss does not charge any fees for deposits except a charge of 10 EUR for any withdrawal that is less than 100 EUR.
Inactivity Fees
If a BDSwiss account is inactive for more than three months, BDSwiss imposes a 10% inactivity fee.
Currency Conversion Fees
It is necessary to pay currency conversion fees if deposits are made by Tanzanian traders in a currency other than the British pound, the euro, or the US dollar.
BDSwiss Deposits and Withdrawals
BDSwiss offers the following deposit and withdrawal methods:
➡️ Bank wire transfer
➡️ Debit Card
➡️ Credit Card
➡️ Skrill
➡️ Neteller
How to Deposit Funds with BDSwiss
To deposit funds to an account with BDSwiss, Tanzanian traders can follow these steps:
➡️ Choose the trading account that you want to fund by clicking on “Payments” followed by “Deposit.”
➡️ Indicate the amount that you want to deposit.
➡️ Choose your deposit method and click on “Proceed to Pay”
➡️ Confirm your deposit details and follow any additional instructions according to your chosen payment provider.
BDSwiss Fund Withdrawal Process
To withdraw funds from an account with BDSwiss, Tanzanian traders can follow these steps:
➡️ Log into your BDSwiss profile and select “Payments” followed by “Withdraw.”
➡️ Select the account from where you want to withdraw funds along with the amount to be withdrawn.
➡️ Proceed to the next step that allows you to choose your preferred withdrawal method, considering that BDSwiss could require additional proof that the account is in your name.
➡️ Consider that before you can use any other payment method, funds must first be withdrawn through Credit Card or Skrill if you used these payment methods to fund your account.
Overall Rating
- 4.7/5
Min Deposit
233200 TZS / $100
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
BDSwiss Education and Research
Education
BDSwiss offers the following Educational Materials:
➡️ A learning centre
➡️ Forex eBooks
➡️ Live Education
➡️ Forex Basic Lessons
➡️ Forex Glossary
➡️ Educational Videos
➡️ Seminars
BDSwiss offers Tanzanian traders the following Research and Trading Tools:
➡️ Daily Analysis of the markets
➡️ Technical Analysis
➡️ VPS Service
➡️ Trade Comparison
➡️ Trend Analysis
➡️ Daily Videos
➡️ Weekly Outlook
➡️ Market Insights
➡️ Special Reports
➡️ Analyst financial commentary
➡️ Live Daily Webinars
➡️ Economic Calendar
➡️ Trading Central
➡️ AutoChartist
➡️ Real-Time Trading Alerts
➡️ Currency Heatmap
➡️ Trading Calculators
BDSwiss Bonuses and Promotions
BDSwiss does not currently offer Tanzanian traders any bonuses.
How to open an Affiliate Account with BDSwiss
To register an Affiliate Account, Tanzanians can follow these steps:
➡️ Navigate to the official BDSwiss website and navigate to the “Partners” tab on the homepage, at the top of the main menu.
➡️ A new page will load to the Partner Page where prospective affiliates can select “Start Now.”
➡️ Affiliates can choose their preferred program and click on “Register.”
➡️ Next, affiliates can complete the registration form and submit it to BDSwiss’ customer support.
BDSwiss Affiliate Program Features
Members of the BDSwiss network may have a substantial online presence, such as a blog, social media account, Forex educational centre, or other digital media. The affiliate program allows you to earn money while advertising BDSwiss’ goods and services to your intended audience.
Affiliates may promote BDSwiss using a range of marketing and tracking methods. To benefit from the affiliate’s impact, partners must be aware of BDSwiss affiliate commission options.
BDSwiss offers its associates the following perks:
➡️ High conversion rates (37%), speedy referral onboarding, specialist contact centres, and several local and international payment methods all contribute to its success.
➡️ Multi-product solutions include over 250 CFDs and assets from several asset classes. Multi-award-winning platforms are accessible on many devices.
➡️ 100% response rate in 13 seconds or less. Affiliate managers and VIP account managers are available.
➡️ BDSwiss delivers independent mobile traffic monitoring, speedy and detailed reporting performance, and other features.
BDSwiss Customer Support
BDSwiss is well-known for its award-winning customer support that can be reached over several communication channels.
BDSwiss Corporate Social Responsibility
BDSwiss is a firm devoted to social responsibility. BDSwiss does this by instilling philanthropic values in employees and establishing a culture that supports important global and local initiatives focused on positive change.
As part of their CSR initiatives, BDSwiss gave €5,000 to the “Elpida” Foundation for Children with Cancer & Leukaemia in December 2021. This kind of contribution helped the hospital provide financial and emotional assistance to cancer patients and their families.
On December 10, 2021, BDSwiss sponsored a blood donation drive in Limassol as part of its ongoing corporate social responsibility. BDSwiss employees, colleagues, friends, and family members donated blood and organized the camp.
Verdict on BDSwiss
Investors of all levels can take advantage of BDSwiss’ feature-rich online environment that is home to both newbies and seasoned traders.
BDSwiss offers a wide range of value-added services and products to its customers, including a unique WebTrader and mobile application, as well as daily webinars presented by the company’s analysts.
There is an account type for every sort of trader, from those who want their cash to be handled by a third party to those who want to offer their own expertise. Incorporating low spreads and first-rate liquidity guarantees a smooth trading experience for Tanzanian traders.
Overall Rating
- 4.7/5
Min Deposit
233200 TZS / $100
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
BDSwiss Pros and Cons
| ✔️ Pros | ❌ Cons |
| BDSwiss is a trusted broker with multi-regulation and multi-asset options | Withdrawal fees are charged |
| There are commission-free options offered on some trading accounts | There are inactivity fees and currency conversion fees charged |
| BDSwiss offers competitive trading conditions on all account types and financial markets | To get the best conditions, Tanzanians need to register more premium accounts which have high minimum deposit requirements |
| The trading and non-trading fees are transparent and straight-forward | There are no TZS-denominated accounts offered |
| BDSwiss offers high leverage ratios up to 1:1000 | The BDSwiss trading platform is not compatible with desktop computers |
| There is a large selection of advanced trading tools offered | |
| BDSwiss offers a range of charting tools and analytical materials | |
| There are no deposit fees charged |
Frequently Asked Questions
Is BDSwiss regulated?
Yes, BDSwiss is well-regulated in several regions around the world including Cyprus (CySEC), Mauritius (FSC), Seychelles (FSA), and Germany (BaFIN).
Can I withdraw all my money from BDSwiss?
Yes, You are permitted a free withdrawal of any amount that is less than the total of all your prior deposits or that is equal to that amount.
How do I withdraw from BDSwiss?
To make a withdrawal, simply log into your BDSwiss profile, click ‘Payments’, and then ‘Withdraw’. Next, you can select the account from which you want to withdraw money along with the withdrawal amount.
Can I have 2 BDSwiss Accounts?
Yes, you can have up to 5 different accounts. For instance, you can have 3 Classic, One VIP, and one Premium Account.
Is BDSwiss free?
Yes, BDSwiss offers a commission-free trading account under the Premium Account.
Does BDSwiss have Nasdaq?
Yes, BDSwiss has Nasdaq listed as a tradable financial instrument. When Tanzanians trade Nasdaq through BDSwiss, they can expect commission-free trades with tight spreads.
What is the withdrawal time for BDSwiss?
The typical withdrawal time for BDSwiss depends on the payment method you use. However, it ranges from 10 minutes up to 10 working days.
Does BDSwiss have Volatility 75?
No, BDSwiss does not currently offer VIX but provides access to several other popular indices that can be traded.
Is BDSwiss UK-regulated?
No, BDSwiss is not UK-regulated but is regulated in Europe. BDSwiss is a trading division of BDSwiss Holding Ltd, a company registered in Cyprus under the company registration number HE300153 and regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 199/13.
Conclusion
Now it is your turn to participate:
➡️ Do you have any prior experience with BDSwiss?
➡️ What was the determining factor in your decision to engage with BDSwiss?
➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
➡️ Have you experienced any issues with BDSwiss such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
