Website Design 100
Asset Diversity 75
Trading Platform User Friendliness 100
Money Management 100
Customer Support 100
Mobile Trading 100
Banc de Swiss is a relatively young broker in options trading market. It is a professional platform that is geared towards providing easy trading platform while concentrating on cutting-edge technologies. The whole idea of Banc de Swiss is to provide the traders with exceptional trading experience with controlled risks. The broker’s prime focus is on German speaking traders but it has also proven itself as a trusted broker for English speaking traders.
Website of Banc de Swiss
The website of the broker is clean and organized and has all necessary information arranged systematically. The terms used in menus and links give a fair idea of the content that can be seen on the page to which the links point towards. The homepage of the broker’s website gives a small login form for registered traders and for new applications, there is a quick registration form available on the homepage. However, the new applicants can also click on the ‘Open Account’ tab of the top menu to reach the registration page. The homepage also gives a quick snapshot of the trading platform, assets available, trading tools that can be used, available customer support options and more. In a single word, the website is ‘professional’.
Towards the bottom of the homepage is the SSL security logo which implies that the website is protected against cybercrimes and data breach using SSL encryption technology. SSL security is essential to encrypt the customer details which include but are not limited to: usernames and passwords, credit and debit card details, banking details and other personal and crucial information.
Trading Platform of Banc de Swiss
The trading platform of Banc de Swiss radically simplifies online trading. Unlike the high risk speculative trading in individual markets like commodities, FOREX, stocks and indices, the trading platform of Banc de Swiss gives a controlled risk environment where traders can uses collection of unique yet simple tools to trade more efficiently. To trade on the Banc de Swiss platform, detailed knowledge of financial markets and financial terminology are not required. Once the traders login to their trading accounts using the simple login form on the broker’s website’s homepage, they will get access to the trading platform that is powered by SpotOption financial trading software. The platform is completely online and does not require any kind of software download. The platform can be accessed from anywhere in the world and the traders can trade from anywhere they like. All they need is a computer with an internet connection. Once logged in, the traders can see various tools and details like market trends, account balance, asset list, trading tools available, money management features available, live financial news, live data feed from Reuters and more.
Registering with Banc de Swiss
Registering with Banc de Swiss is simple. Once the applicants complete the simple registration form, they can submit it and wait for a welcome email from the broker. The welcome email consists of a verification link. Clicking on the link will complete the registration process. The entire process takes 58 seconds to complete. The registration part in completely free and once registered, the traders can then browse through the trading platform to get a better feel of the interface. They can deposit money only when they feel comfortable.
Money Deposit with Banc de Swiss
Depositing money with Banc de Swiss is very easy but there are a few conditions that the traders need to fulfill. Once the money is successfully deposited, it will show up on the account balance section of the trading platform.
The broker accepts only two currencies which are USD and EUR. The trading currency must be selected during the registration process and cannot be changed later.
Minimum and Maximum Deposits
The minimum deposit allowed by Banc de Swiss is USD or EUR 100 depending on the chosen currency and the maximum deposit allowed varies. For credit card deposits, the maximum allowed is USD or EUR 5,000. For Western Union, it is USD or EUR 10,000 and for Wire Transfer, there is not maximum limit set by the broker.
For depositing money, the broker allows different options which are listed below:
- Wire Transfer
- Western Union
- Major Credit and Debit Cards including Diners Club, Visa Electron, Maestro Card, MasterCard, AMEX, Visa and CashU.
- Postepay, Ukash, GiroPay, Sofort, Skrill and Offline Bank Transfer
For depositing money, traders will have to validate their trading accounts. For this, they will have to send a copy of a government issued ID card and an address proof. For credit card deposits, the traders will have to send the photocopy of both sides of their credit card bill and black out the middle 8 digits of the card number and the CVV number. The documents can be scanned and emailed or faxed to the broker for verification.
Trading with Banc de Swiss
Trading with Banc de Swiss is a treat. The highly advanced yet very simple trading platform is just perfect for all types of traders. They can control their risks and make money easily by trading in binary markets.
The trading platform contains the list of all assets available for trading in options market. The broker allows trading in 7 commodities, 26 stocks, 24 indices and 14 currency pairs. All these underlying assets are world class assets that are traded globally. The traders can actually choose to trade in any one asset from any of the four categories or select to trade in multiple assets across all categories at any given point of time.
The trading tools made available by Banc de Swiss allow both experienced and novice traders to trade with ease and maximize their profits. The broker offers 5 different trading tools which include:
This is the very basic form of trading tool where the traders need to speculate whether the price on asset will increase or decrease from its current market price level. Traders use CALL option if they think the price will increase or they use the PUT option if they think the price will go down. They also need to select an expiry time for the trade which is generally floored at 15 minutes minimum.
In this form of trading, the traders only have to speculate whether the price of the asset in question will touch a speculated price within a given time frame or not. If the price touches the speculated price, the trader wins. If not, the trader loses. The price does not have to cross the speculated price.
This is same as the Binary Options trading tool. However, there is one difference. Here the expiry time is only 60 seconds. This is the form of trading is designed for those who want to earn very quick returns or do not have much time to trade.
This is something new and is available only with Banc de Swiss. It is exactly the same as 60 seconds trading except that the expiry time is only 30 seconds. This makes 30 Seconds trading the fastest trading option in Binary Options Market.
This trading tools is mostly used by experienced traders who love to control every aspect of their trading including the risk they take. This tool allow the traders to hedge their trades. Hedging in binary options is a very advanced form of trading and should not be tried by novice traders unless they get a solid grasp over the concepts and methods.
This refers to a magnified graphical interface with additional analysis tools. This method can be used by both experienced and novice traders to earn profits from their trades.
Money Management Tools
Money management is an important aspect on online trading. Banc de Swiss offers a couple of money management tools which are described below:
This tool can be used by traders to extend the expiry time of their trades if they think that their speculations will be incorrect. The option pops up towards the end of the trading period and can be used only once for every trade.
This method allows the traders to double their profits in case they think that their speculations will hold good. Clicking on double up will automatically set another trade within the same expiry time with same set of conditions and investment.
Payouts and Refund
Banc de Swiss offer 68% minimum returns on investment for winning trades while the maximum return is 75%. For One Touch trading tool, winning trades can win up to 500% of the invested amount. For losing trades, the broker provides a cushion of 0 to 10% refund.
Withdrawals with Banc de Swiss
Withdrawal process with Banc de Swiss is plain and simple. Credit card withdrawals are free but wire transfer withdrawal requests will have a processing fee of $25. The banking methods listed in Deposits section above can be used for withdrawal. Withdrawal requests are processed within 3 days of the request and the money can take up to 7 days to show up on the account.
Customer Support of Banc de Swiss
The broker is known for its strong customer support. The support staff is well-trained and can handle all queries. Traders can reach the support staff using Email, Skype, Phone or Live Chat. The broker provides its services in Swedish (Svenska), Italian (Italiano), Norwegian, Dutch (of Germanic language family) and English.
Extra Features of Banc de Swiss
Banc de Swiss offers a welcome bonus of up to 50%. This means that if a trader opens an account with Banc de Swiss and deposits $100, he or she will get another $50 credited to their account by the broker. However, the bonus features are not mentioned on the website of the broker but talking to a support staff will reveal the available bonuses at the time of registration.
Friend Referral Program
Friend referral programs are not available with the broker. This can be of slight disadvantage as some traders do look for extra income.
Banc de Swiss does not offer a demo account to play with. This may be a problem for novice traders.
Banc de Swiss offers educational material for its traders. Novice traders can make use of this to learn about trading in binary options market but the material is not very detailed. As a result, traders will have to look for alternative sources.
Banc de Swiss has mobile trading support. Android and iOS apps are available from respective app stores.
Banc de Swiss is regulated by jurisdictions of several countries. The entire list can be found here.