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8.4
  • Banc de Swiss

  • Bonus: up to case basis
  • Options Payout: 68-75%
  • Rating: 8.4 / 10
Broker Name: Banc de Swiss
Platform: SpotOption
Founded: 2012
Bonus: up to case basis
Return/Refund: 68-75%/0%
Banc de Swiss Overview
No. Of Assests: 67
Regulated:   CySEC
Demo Account: No
Minimum Deposit: 100
US Traders:   Not Accepted
Read Users Reviews

Banc de Swiss Review

Keplero Holdings Ltd, the owning company of BDSwiss received their CySec License during the year 2013, taking a step forward and trying to push Binary Options into the Regulation zone. *Update: At the bottom of their website a new name now appears: BDSwiss Holding Plc. This company has the same CySEC license number 199/13 As Keplero Holdings (but their link doesn’t work because it’s probably too difficult to make it work… so use ours). To me it’s hard to understand how Keplero Holdings (the previous name that appeared as owning company) can have the same license number as BDSwiss Holding (the current name that appears as the owning company) but I guess I don’t quite grasp all the intricacies of company names, addresses and license numbers… But I shouldn’t be a detective just to understand who owns bdswiss.com, what is the relation between Keplero Holdings and BDSwiss Holding or how 2 companies can have the same license number. Nonetheless, CySEC’s official website confirms that BDSwiss Holding Plc. is licensed under number 199/13 and has a registered address at 160, Arch. Makariou III Avenue, 1st Floor, CY-3026 Limassol, Cyprus. Hey, maybe they’ve simply changed names.

 

Is BDSwiss a Scam?

There are no signs that BDSwiss is trying to scam people of their money. Being regulated by CySec means they are transparent and we know who we are dealing with. I consider their name to be a bit misleading for the reasons outlined above, but I’ve seen far worse things in this industry than just a misleading name. However, I recommend conducting your personal and thorough analysis before depositing with any broker.

 

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Editor’s Note – Why does Banc de Swiss Suck in 50 Words?

Because everything they do has been done before and they don’t even attempt to bring something new to the industry. In fact this broker’s website is a mirror image of most SpotOption brokers. Of course, they use the usual phrases like” the most professional and objective…” and unfortunately the same slogan seen on almost all SpotOption platforms. Oh, imagination must be very expensive because lately brokers don’t show any traces of it.

 

Why BDSwiss doesn’t Suck?

The owning company, BDSwiss Holding Plc. is regulated by CySEC under License number 199/13 and this gives us extra confidence that we are dealing with a trustworthy broker. However, if they made the effort to go through the regulation process, they should have invested a bit more work in the website. *Update: Well, well, somebody must be reading our reviews because the BDSwiss website looks better now. They’ve given it a facelift and a much needed upgrade. It’s still not the best we’ve seen, but it’s better.

 
 

Should I Open an Account with BDSwiss?

Lately we notice more and more brokers are making the transition towards regulation and ultimately this will benefit us traders but regulation is not everything: even if they’ve recently updated their website, it still looks like many other SpotOption white labels, but at least they’ve got rid of the infamous slogan “We focus on who really counts. You”. Education lacks almost completely and there’s no trace of a Daily or Weekly market analysis. Most brokers who provide market analysis don’t bother to update it daily so it becomes useless. I don’t know which is worse: an outdated market analysis or no analysis at all but the fact is that either way traders are left with no information and more than that, it shows a lack of professionalism from the broker’s side. *Update: Last time we visited them they didn’t excel at education or market reviews/analysis but their new facelift brought a new section of Market News (at the bottom left of their website). When you click on it, you will see a few tiles with headlines on them and further clicking on that headline will reveal the message: “For more information, read our latest forex news”. Now comes the good part: if you click on “forex news”, you will be directed to fxstreet.com which is a well known website focused on news from the forex market. Fxstreet does not belong to BDSwiss so they are just feeding their clients a bunch of BS, making them believe that is their news feed. It’s similar to me saying: Check the analysis I’ve written and then directing you to Reuters or Bloomberg… or me saying Check out my painting and then directing you to a picture of a Salvador Dali painting. All I have to say about this behavior is LOL. I know it’s not very professional from my part, but really… LOL is all I can think of.

BDSwiss stands for Banc de Swiss and no matter how hard I try, I can’t find the reason why they chose that name. Their headquarters are located in Nicosia, Cyprus and they don’t list an address from Switzerland anywhere on the website; they don’t even claim to be located there. So what’s the reason for having “Swiss” in the name? Maybe because Swiss Banks are known to be the most reputable in the world and hinting about having a connection with those banks makes BDSwiss appear more professional? Might as well call themselves Bank de Warren Buffet then… Ah well, maybe that’s not the reason and I’m getting ahead of myself, but I would sure like an explanation.

After spending quite a while on Banc de Swiss website, I can’t really find reasons to recommend them wholeheartedly. Sure, we are dealing with a regulated company which is much better than giving our money to a broker who doesn’t even provide an address, but just being regulated doesn’t make the broker great right from the start and I would like to see more commitment coming from BDSwiss before considering them top-tier material. *Update: After our latest visit, I still don’t recommend this brokerage and in fact now they seem a bit worse than before.

 

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BDSwiss Complaints

While checking the most important review and complaints websites we couldn’t find any major issues related to this broker. In the future we will keep a close look, especially because this broker is regulated. *Update: it’s been a long time since our initial review of BDSwiss has been published, but only 2 people bothered to complain or comment about them on our website. This could mean that nobody trades with this broker or that people really don’t have things to complain about… I have no idea.

 

BDSwiss Bonus

The Bonus will be negotiated individually depending on the amount you deposit and the turnover needed before withdrawing the bonus is 15 times. However, this information was provided by their chat representative and is not found within their Terms and Conditions so it can be changed at any time.*Update: as a new addition they have introduced a new “Promotions” page where you can find all active bonuses and… promotions. We recommend reading their Bonus Policy section of the Terms and Conditions.

 

BDSwiss Withdrawal

The minimum withdrawal is 100 EUR or USD and can be requested via the normal methods like Credit Card, wire transfer and e-wallet. For a list of accepted e-wallets, visit their site. All withdrawals must be made to the same card/bank account/e-wallet that was used for depositing.

 

 

Banc de Swiss Ratings

User Friendly 19/20

The website is easy to navigate due to its simplicity; the SpotOption platform is accessible and has enough features but the FAQ section displays some content in German or a similar language. The website is translated in 8 languages. *Update: the website is now translated in 19 languages and the German content has disappeared from the English version (of course if you use the German version of the website, you will have German content).

 

Number of assets and expiry times 19/20

Their basket of trading assets contains 26 Stocks, 14 currency pairs, 7 commodities and 20 indices for a total of 67 underlying assets. The fastest expiry time available is 60 seconds (but also 90 and 120 secs), followed a variety of other expiries like 15 minutes, hourly, end of day and end of week and Long Term (end of year or even next year expiries).

 

Commissions, Support and Effective return 16/20

There are no commissions to open an account. Credit card transactions don’t incur a fee and wire transfers are charged $25. Support is fast to answer but not very helpful and not at all knowledgeable. The effective return ranges between 68% and 75% and there is no refund for Out of the Money.

 

Deposit, Payment and Bonus 16/20

Deposits can be made via Maestro, Visa, a number of e-wallets and offline wire transfer such as Western Union. The same card/e-wallet the client used to deposit has to be used for withdrawal which usually takes between 1 and 7 working days but some methods take between 1 and 5 working days (for details, head to their Funding Methods page). The bonus will be negotiated individually but they do have special promotions which are fixed and available for a limited time only.

 

Website Extras 11/20

Regulation remains a noteworthy extra but the website has a lot of other shortcomings outlined above.

 

BDSwiss Overall Ratings 81 + Regulated (+3) = 84/100

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