There are a few brokers you could actually spend hours talking about and BDSwiss is without doubt one of them. BDSwiss was formerly known as Banc de Swiss, just in case you are a bit confused. Banc de Swiss came like a bombshell and really was able to get a degree of brand awareness in Germany within a short period of time that others could only dream of.
Just take a look at the following graphic:
Interest over time. Websearch. Worldwide, 2004-today.
- binary options banc de swiss
- view full report in Google Trends
This means that meanwhile, even more people have googled Banc de Swiss than the term binary options itself. You can compare that, for example, to the term iPhone that is of course, googled more often than smartphone or mobile phone. However, comparing Banc de Swiss with Apple is like comparing apples and oranges… But that clearly shows to what extent people were interested in this broker and that they still are.
What many of you are probably wondering about is: Why has Banc de Swiss now got another name? There are several reasons for that and unfortunately, everybody thinks he knows best and has a different opinion about it. But there are two persisting attempted explanations:
- Banc de Swiss had problems because of using “Banc” in their name
- Banc de Swiss considered the brand to be damaged because of the Wallstreet trick and wanted to make a fresh start
Maybe even both attempted explanations are taking the biscuit (see below). But what we know for sure is that now there is only BDSwiss, that it is the same company and even that the offer stayed the same. The website was updated as well and that was definitely an important improvement!
How is BDSwiss doing now?
Well, at the beginning, I personally have traded on BDSwiss only. Then, there was a point where I decided to give other brokers a chance, too, and I split my capital a bit. This was no decision against BDSwiss but rather a decision for more variety and less risk. Generally, I think it is absolutely necessary that you do not become set on one single broker. Sure, it is cool to only have one broker and to know what you are doing there, but this includes some risks, too, which is not worth it, at least that is what I think. However: there was no other reason why I did not want to exclusively trade on BDSwiss anymore.
I mean, there are a few aspects that are either in favour of BDSwiss or against it. Deciding which broker is the best for you and which one is not, is of course up to you. I personally was able to figure out a few weaknesses which other brokers have solved a lot better:
- relatively low payouts
- the mobile offer is not really mind-blowing
- no demo account
OK, the last aspect is actually not a real weakness if you take a look at other brokers for binary options. The problem is that somehow, hardly any broker offers good demo accounts. Without depositing any money, less than ever and even with depositing money; it is only a few brokers that offer a demo account. But however, there are a few, for example 24Option and that is why you can absolutely criticize that.
The payouts and returns are actually relatively low, compared to 24Option or OptionBit. Well, you only notice that if you trade very much but still, it is a minor disadvantage.
The mobile offer is also improvable. They have been promising to develop an app for a long time now, but nothing happened. First they were talking about an iPhone app, then an Android app, then both and now? I only know the Android app which is only in English language though. Well, it is at least a start, but other brokers such as 24Option have been offering that for years now.
But that was it with regard to the negative aspects, at least that was what came into my mind. If you can do without an iPhone app or a demo account for example, BDSwiss is without doubt still a very good broker which you should carefully take a look at.