Our partner, XM, lets you access a free demo account to apply your knowledge.
No hidden costs, no tricks.
BDSwiss is a global Forex and CFD (Contract for Difference) broker based in Cyprus. The company was founded in 2012. BDSwiss is authorized and regulated by the Financial Services Authority of Seychelles.
The broker provides financial services globally and offers various trading platforms and multiple account types to meet the needs of different traders. Clients of BDSwiss have access to trading various asset classes, such as:
BDSwiss also offers various account types, including a Cent account to its customers. In this article, we’ll learn the benefits of opening this account type, its limitations, and compare the account to other account types offered by the company.
The Cent account offered by BDSwiss enables traders to fund their accounts with as little as 10 USD. In addition, traders are able to trade using smaller position sizes. The Cent account can be useful in a number of different ways:
In addition to the Cent account, BDSwiss offers Classic, VIP, and Raw account types to its clients. Let’s take a look at the comparison table below:
Account Comparison | Cent | Classic | VIP | Raw |
---|---|---|---|---|
Minimum Deposit | 10 USD | 10 USD | 500 USD | 500 USD |
Average spread on Euro vs USD | 1.5 pips | 1.5 pips | 1.1 pips | 0.3 pips |
Available leverage | Up to 1:500 | Up to 1:500 | Up to 1:500 | Up to 1:500 |
Available Assets | Forex CFDs, Commodities CFDs | Forex CFDs, Stocks CFDs, Indices CFDs, Commodities CFDs, Cryptocurrencies CFDs | Forex CFDs, Stocks CFDs, Indices CFDs, Commodities CFDs, Cryptocurrencies CFDs | Forex CFDs, Stocks CFDs, Indices CFDs, Commodities CFDs, Cryptocurrencies CFDs |
Commissions per round | $0 on all pairs | $0 on all pairs $2 on indices & 0.15% on shares | $0 on all pairs $0 on indices & 0.15% on shares | $5 on all pairs $5 on commodities $2 on indices & 0.15% on shares |
Margin Call at | 50% margin level | 50% margin level | 50% margin level | 50% margin level |
Stop Out at | 20% margin level | 20% margin level | 20% margin level | 20% margin level |
Instant Withdrawals | Yes | Yes | Yes | Yes |
$0 Fees on Deposits & CC Withdrawals | Yes | Yes | Yes | Yes |
Platforms | WebTrader, Mobile App and MetaTrader 4 | WebTrader, Mobile App, MetaTrader 4, MetaTrader 5 | WebTrader, Mobile App, MetaTrader 4, MetaTrader 5 | WebTrader, Mobile App, MetaTrader 4, MetaTrader 5 |
Trading Alerts | Limited Access | Limited Access | VIP Access | VIP Access |
Autochartist Performance Stats | Requires over 500 USD deposit | Requires over 500 USD deposit | available | available |
Personal Account Manager | Requires over 1000 USD deposit | Requires over 1000 USD deposit | available | available |
Islamic Account version | Yes | Yes | Yes | No |
VIP Webinars | No | No | Yes | Yes |
As you can see from the comparison table, the Cent account is limited compared to other account types. The VIP and Raw accounts have better spreads and better trading conditions overall. However, keep in mind that the Cent account is not built for trading professionally. Its main purpose is to help traders learn trading in a live environment. In addition, even professional traders will find the account useful for developing strategies in a live environment with a low amount of capital being put at risk.
To sum everything up, the Cent account offered by BDSwiss is very useful in various ways. The account type helps traders test their strategies live with low capital investment, help improve algorithmic trading strategies, experience live spreads, and help beginners learn how to manage emotions such as greed, fear, hope, and a desire to revenge trade after losing money. On the other hand, the account type has limitations and should not be used for trading large positions. The broker offers VIP and Raw account types that come with better trading conditions than Cent accounts. In addition, MetaTrader 5 is not available for Cent account holders. Overall, the account type is recommended for traders that aim to live-test their strategies and improve their trading skills.
Our partner, XM, lets you access a free demo account to apply your knowledge.
No hidden costs, no tricks.