Hoow to withdraw money on BDSwiss? – A simple and understandable withdrawal tutorial
Table of Contents
BDSwiss is an international brokerage firm established in 2012 in Zurich. The company picked up the pace, approached wider markets, and became one of the greatest of its name. BDSwiss has over 1.5 million clients from more than 186 countries and has a specific Member club with more than 1.5 million traders.
BDSwiss is a heavily regulated brokerage platform that has the licensing for Swiss banking and has a worldwide reach. The trading conditions over the platform are convenient for the users, and you can open up your account in it without any problems. The customer service quality of this platform is also great with proficient research tools and trading education.
BDSwiss has so far earned not just good reviews from the World Trading Community but has also bagged several industry awards for its excellent trading technology and service. Hence, this is what has drawn people’s interest towards this platform. But apart from reputation and service proficiency, people are also concerned about getting insight into the money withdrawal process.
People want to know the right and hassle-free process of withdrawing their money from BDSwiss. The basic idea of people about the brokerage platform is to put money and invest in commodities, metals, indices, cryptocurrencies, and Forex. But most rookie traders often forget to take note of the withdrawal process that they need to implement to get their profits.
Do not worry, as BDSwiss has an easy withdrawal process. And this review article is dedicated to explaining the right process for withdrawing money on BDSwiss. Follow on till the end.
Process of withdrawing money on BDSwiss
The profits over the BDSwiss website can be withdrawn only after all of the other funds, equal to the deposited sum, have been withdrawn to the same mode of payment or account that you used in the first place. Is there a policy that any debit or credit card deposits should be tried for withdrawal to the card first before you refund the same to any of the other methods?
BDSwiss intends to give the withdrawal services to the customers within 24 hours or even earlier than that. But this is only applicable if the withdrawal has been processed towards the business or working days. If you are applying from the withdrawal process on weekends or national holidays, then the withdrawal process might take a long time.
It is better to have some additional time in hand while applying the withdrawal from BDSwiss. Once the transaction is confirmed, the company will try to deposit the money in your original payment method as soon as possible. And for a rare case scenario, if there is any problem with the withdrawal transaction, BDSwiss will notify you.
To proceed with the withdrawal from BDSwiss, you need to first log in to the client portal with the correct credentials. Head to the respective withdrawal section and raise a request by following the specified procedure. Choose the desired withdrawal method, and your request will be raised. To help you better understand the withdrawal methods:
- Credit Card withdrawal
If you used your credit card as the original mode of deposit, you need to choose and withdraw the funds directly through the OCT (Original Credit Transaction) function of the BDSwiss platform. As per the policy, you can withdraw an amount equal to or less than the sum of previous deposits without any cost.
But, when you withdraw the trading profits or the additional amount than your deposits, you will have to pay a minimal flat charge or trading account currency equivalent. This is the charge by BDSwiss, but there might be some other charges imposed upon your profits, such as banking or exchange fees by the card provider.
If the credit card has been replaced due to the expiry of your old card, the refunds will be credited to the new card that has been linked to your name and the same bank account as that of the canceled card. But if the bank account linked to your card has been closed completely, you need to send the proof of account closure to the Customer Support Team of BDSwiss.
This documentation aims to indicate to the BDSwiss officials that the card number and state of the bank account linked to it are completely closed and shut down. Hence, this is somehow a lengthy process, but BDSwiss has the flexibility to allow you to withdraw your profits even with such bank account or credit card troubles.
- Bank Wire withdrawal
If the pre-select deposit method is not a credit card, then you can make use of bank wire withdrawal to get your trading profits to your bank account. BDSwiss demands a bank statement as evidence that you are the actual holder of the bank account. This Is essential for approving the withdrawal request. BDSwiss charges are minimal fees or the trading account currency equivalent charges for all bank wire withdrawals below $100.
To withdraw using Bank Wire, you need to follow the following steps:
- Log into its profile, choose the ‘Payments’ tab, and click on ‘Withdraw.’
- Now, select the account where you want to withdraw the funds and mention the amount.
- Click on ‘Next,’ and you will be asked to select the desired withdrawal option. Choose the ‘Bank Wire’ method from the list.
- Submit the bank statement as proof that you own the account if you didn’t use this method for depositing the money earlier.
- While you are submitting bank details to BDSwiss, make sure that you are offering correct information, along with SWIFT code and IBAN.
- For withdrawing money via Bank Wire, you need to make the refunds of all Skrill deposits and Credit Card that you made within18 months. After that, you also need to check if you have any BTC, ETH, or BCH deposits in your account. You should refund them to your private wallet before processing the withdrawals if you have them.
- Cryptocurrency withdrawal
If you intend to withdraw the crypto profits to your dedicated private wallet, then you need to follow the specific withdrawal order as specified above for the Bank Wire withdrawal method. You need to refund all of your deposits back to their original mode of payments at first before you can seek this payment option.
For availing of the option to withdraw back to the cryptocurrency wallet, you will have to provide your private wallet address to BDSwiss. Due to all kinds of AML policies and procedures, the platform has the permission to process the crypto withdrawals, only to the same wallet address from where you deposited the funds in the first place.
There is a need for proof of payment, such as the wallet screenshot reflecting your deposit, wallet number, or any similar identity proof. This is essential for the officials to verify the original deposit source. For any kind of query or hassle, you can always get in touch with the customer support team of BDSwiss, and talk to them about this withdrawal process.
Payment or funding methods with BDSwiss
The deposit or payment methods available with BDSwiss include Credit Cards, Bank Transfers, Skrill, iDEal, Giropay, EPS, and others. As the withdrawal options are already stated above, it totally depends upon the clients to choose their desired payment or withdrawal methods. But they need to decide upon it before they deposit funds onto the account.
It is because, for most of the payment options, the withdrawal process is linked to the original method of deposit. Therefore, the mode of payment and withdrawal should be decided before the first funding is done. If there is any deviation in your selection of mode of deposit and withdrawal, then you can pick a different withdrawal option and follow the procedure for the same.
You need to remember that you cannot change your original mode of payment for withdrawals in all cases. BDSwiss accepts all kinds of introductory deposits and processes withdrawals, such as instant transfers, credit card transactions, electronic wallet transactions, and bank transfers. The outgoing payments on credit cards typically take between 2 to 7 business days for processing.
The minimum amount deposit that you can make at BDSwiss is $100. It is one of the best conditions and opportunities for the traders to go for the Classic account. BDSwiss doesn’t impose charges on deposits through any payment method such as electronic wallet, credit card, bank transfer, and others.
BDSwiss | Other Brokers | |
Minimum Deposit | $100 | $500 |
This is the average minimum deposit cost for most of the other brokers compared to BDSwiss. This figure is specified after surveying and researching the deposit prices of diverse brokerage platforms.
Just like the deposit, the minimum withdrawal amount is also $100, beyond which any amount can be withdrawn free of additional charges. But if you are willing to withdraw your profits of less than $100, you will have to pay a flat fee for the same. You will know more about it in the next section of this article.
Fees levied upon BDSwiss usage
BDSwiss is completely transparent upon its charges or fees for the clients. They are doing this because they intend to let their customers know what they are paying while they are trading with them. Here is the table to give you an idea of the charges you have to pay:
Category | Charges/Ranking |
Credit Card Transactions | No Fees |
Currency Conversion Fees | No Fees |
Bank Wire Transactions | $10 flat fee for withdrawals below $100 |
Inactivity Fee | 10% of the account balance every month. Minimum of $25 and maxUnlimited9.90 until the account has $0. These are the maintenance and administration expenses of inactive accounts. |
Fee Ranking | Average |
All the Classic and VIP brokerage account fees of BDSwiss are included in the spreads and commissions charged while conducting specific trades. These charges vary depending upon the type of account that you select. If you are a big trader and prefer commission aspects, then the Raw account type should be your preference. The Raw account offers the interbank spread, and the commission paid upon every transaction opening is $5.
The Classic spreads of BDSwiss begin at 1.5 pips, and the VIP feature will lower the conditions with a spread of 1.1 pips. The account types information in detail are in the table below:
Features | Classic Account | Raw Account | VIP Account | Invest PLUS |
Minimum Deposit | $100 | $5000 | $3000 | $5000 |
Starting Spreads | From 1.5 pips | From 0.0 pip | From 1.1 pips | Unlisted |
Commission/trade | $0 on all pairs$2 on all Indices0.15% on all Shares | $0 on all pairs$2 on all Indices0.15% on Shares | $0 on all pairs$0 per lot for the Indices0.15% on all Shares | 0.1% per unit |
Minimum Lot Size/Trade | 0.01 | 0.01 | 0.01 | 0.01 |
Maximum Lot Size/Trade | 50 | 10 | 50 | Unlimited |
Demo Account | Yes | Yes | Yes | No |
Copy Trading Support | Yes | Yes | Yes | No |
Swap Free/Rollover Free | No | No | Yes | No |
Conclusion
BDSwiss is an award-winning platform. It has dedicated its services to helping its customers and clients get the best investment experience. This brokerage platform comes with different features and facilities to help make investments easy for even the beginners over the platform. Keeping that in mind, the platform has also decided to ensure that the clients get easy deposits and withdrawal facilities.
This platform comes with a Web Trader interface and a mobile application. The payment options and other features are easy to access from both the platforms of BDSwiss. The company’s analysts also prefer to organize webinars over the dedicated platforms for clients to get information on common investment queries. There are webinars and guides on depositing or withdrawing funds easily over BDSwiss. It is for beginners to find this platform friendly and educational.
Irrespective of the level of trader, anyone can find an ideal account type to match their trading requirements. The people who want their funds to be passively managed can also open an account over BDSwiss. The customer support team of this brokerage platform is available for the clients in 7 languages to communicate through phone numbers and 20 languages via live chat. BDSwiss also has added protections imposed by regulations upon multiple jurisdictions.
It also has insurance of up to $20,000 for all client accounts or traders of all skill levels or expertise. Several tools and assets are available for the clients to explore without hesitation. This platform is collectively designed to deliver a superior experience in asset trading. Therefore, the deposit and withdrawal convenience is just a part of their seamless service offerings.
FAQ – The most asked questions about withdraw money on BDSwiss :
How long will my withdrawal be pending on BDSwiss?
In most cases, the withdrawals are processed within 24 hours. But the outgoing transactions might take around 2 to 7 working days to reflect in your account. But, in some cases, such as if the transaction is processed during the weekends, the transaction might take ten days to process.
The e-wallet withdrawals might take just 10 minutes or a couple of hours to reflect the amount in your wallet. The time required for the funds to reflect in your account depends upon the timeframe of your bank or the method of withdrawal that you chose.
Why can’t I withdraw from BDSwiss?
If your withdrawal request has been rejected, then there might be three possible reasons for the same. The first is that your account might have an insufficient balance, which is lower than the amount you requested for withdrawal. The second reason might be that you have an insufficient free margin to cover the open positions. And the third reason might be that you must have entered incorrect withdrawal details.
Check these three scenarios, and if any of them has been the reason for your request rejection, then fix it and apply again. BDSwiss will process the request at the specified time without any issue.
How do I transfer money from BDSwiss to the bank account?
Bank wire transfers are ideal for helping you out in transferring the withdrawal amount to the bank account. For using the bank wire option, you need to follow certain steps that have been specified above in this article. After that, you just need to select ‘Bank Wire’ as your payment option. And then, you can follow the procedures asked to complete the transfer process.
How long does it take to withdraw money from BDSwiss?
This depends upon several factors, including the time when the transaction request was raised and the financial institution that will receive the funds. Irrespective of these consideration factors, most withdrawals are processed within 3 to 4 business or working days. After that period, you can see the amount reflected in your bank account.
What is the duration of BDSwiss fund withdrawals?
The processing of each withdrawal request will take 48 working hours. You can withdraw trading gains using the ways provided to you, or if your credit card accepts OCT, you can withdraw more money than you have already deposited (i.e., trading profits).
How can I transfer funds from my BDSwiss account to my bank account?
Bank wire withdrawals can transfer trading winnings to your bank account when the pre-select deposit option is not a credit card. As proof that you are the legal owner of the bank account, BDSwiss requests a bank statement. For the withdrawal request to be approved, this is crucial.
Can I use BDSwiss to make a local currency withdrawal?
Only USD, GBP, or EUR can be used for withdrawals.
Why am I unable to withdraw from BDSwiss?
There are three main reasons why your withdrawal request might have been denied. First, there’s a chance your account doesn’t have enough money in it. The other is that you don’t have enough free margin to settle the open positions. The final possibility is that you entered the wrong withdrawal information. Change any of the items mentioned above, then reapply.
See more articles about forex trading here:
Last Updated on January 27, 2023 by Arkady Müller
