Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighGroup companies hold offshore licences in Seychelles and Mauritius and a South African intermediary licence, but the Comoros company relies on an unconfirmed MISA licence, CySEC withdrew the Cyprus licence in 2025, and the FCA and 4 other regulators acted or warned.
Identity & transparency
6/10 · HighThe group companies are real and appear on registers, but a Swiss court found the Swiss branding misleading, the FCA found the group used one UK-regulated firm to lend credibility to offshore companies, and no public website remains.
Withdrawals & conduct
9/10 · CriticalDozens of specific reports since mid-2024 of withdrawals held for months or over a year, delays admitted by BDSwiss, and 2026 reports of balances moved without consent into a 24-month copper lock-up, seen on 2 platforms and in trade press.
Reputation
9/10 · CriticalTrustpilot score 2.1 from 2,830 reviews with almost all recent reviews 1-star about withdrawals, regulator warnings in Canada, Germany and Malaysia, and reports of senior staff leaving and the business closing to new clients.
Website claims
7/10 · HighA final Swiss judgment found the Swiss name and cross misleading, the FCA found marketing with unrealistic return claims in 2021, and km.bdswiss.com showed licence numbers of other group companies.
Operational history
3/10 · LowAbout 13 years of verified history, with the Cyprus parent registered on 23 January 2012 and bdswiss.com on 9 April 2013, but the public business closed to new clients in 2026.
Who they are
A quick desk file on the company behind the brand.
- Brand: BDSwiss. Trade press reports that the BDSwiss client portal now uses the name BDS Markets.
- Legal entity: BDSwiss Investments Ltd, company number HY00423197, incorporated on Mwali (Mohéli) in the Comoros. km.bdswiss.com named BDSwiss Investments Ltd as the company its clients dealt with.
- Registered: Bonovo Road, Fomboni, Island of Mohéli, Comoros.
- Seychelles company: BDSwiss (Seychelles) Ltd, also called BDS Ltd, linked to global.bdswiss.com.
- Mauritius company: BDSwiss Markets (Mauritius) Ltd, also called BDS Markets.
- South African company: BDSwiss Markets SA (Pty) Ltd, registration number 2015/156886/07.
- Cyprus company: Viverno Markets Ltd, registration number HE 300153, formerly BDSwiss Holding PLC, registered on 23 January 2012.
- Swiss company: BDSwiss AG in Zug.
- Group licences: Seychelles FSA securities dealer licence SD047, FSC Mauritius investment dealer licence C116016172 and FSCA licence 49479 for advice and intermediary services.
- Only licence of the Comoros company: Mwali International Services Authority (MISA) licence T2023244, which we could not confirm on the MISA register.
- Website: km.bdswiss.com, global.bdswiss.com and www.bdswiss.com now redirect to a client login page at dashboard.bdswiss.com.
- Offers: CFDs on forex, shares, indices, commodities and crypto, with leverage up to 1:2000. Leverage is borrowed exposure, so a small price move can lose the whole deposit.
- Not accepted: residents of the UK, the US, the UAE, India, Japan, Mauritius, Seychelles and 24 other countries, according to the km.bdswiss.com footer.
- Age claim: The site said 'Empowering Traders Since 2012'. The Cyprus company record and the bdswiss.com domain record support a start in 2012 or 2013.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Financial Services Authority (FSA) Seychelles
Financial Services Commission (FSC) Mauritius
Financial Sector Conduct Authority (FSCA) South Africa
Mwali International Services Authority (MISA)
Cyprus Securities and Exchange Commission (CySEC)
Securities and Commodities Authority (UAE), now the Capital Market Authority
Why we reached this verdict
How the evidence adds up.
We rate BDSwiss a likely scam because of how BDSwiss handles client money, not because of where BDSwiss is licensed. We assess the risk of fraud as high.
- Withdrawals held: Trustpilot shows 2,830 BDSwiss reviews with a score of 2.1 out of 5. Recent 1-star reviews give amounts and dates. One client requested 1,311 euros on 27 August 2025 and was still waiting 5 months later.
- Same problem on a second site: BrokersView complaints from 2025 describe 857.34, 305 and 50,000 US dollars that clients could not withdraw.
- Delays admitted: In September 2024, Finance Magnates reported that at least 10 senior staff had left BDSwiss. BDSwiss admitted difficulties with delayed payments and withdrawals.
- Balances converted: In June and July 2026, clients reported that BDSwiss moved balances into copper rights at TheCopperClub without consent. One client reports that BDSwiss moved 21,490.13 euros into copper rights locked for 24 months.
- Website closed: km.bdswiss.com, global.bdswiss.com and www.bdswiss.com now send visitors to a login page. Finance Magnates reported in July 2026 that new accounts could not be opened and that its email to BDSwiss bounced.
- UK regulator action: On 5 August 2021, the FCA stopped the BDSwiss group from selling CFDs to UK clients. The FCA found that 99% of UK clients traded through unauthorised offshore companies, and that the marketing was misleading.
- Misleading Swiss name: In a final judgment of 26 August 2025, a Bern court ordered BDSwiss AG to drop 'Swiss' and the Swiss cross. The court found that nothing more happened at the Zug office than emptying the mailbox.
- Cyprus licence withdrawn: CySEC suspended the Cyprus company in October 2024. CySEC then withdrew licence 199/13 by a decision of 17 March 2025.
- Regulator warnings: The British Columbia Securities Commission and Québec's AMF warned about BDSwiss companies in May 2021. BaFin followed in March 2022, and the Securities Commission Malaysia in 2024.
- Licences elsewhere in the group: The Seychelles, Mauritius and South African licences belong to other BDSwiss companies, not to BDSwiss Investments Ltd in the Comoros.
Evidence ledger
Every finding, with its source and how strongly it points.
E1On 5 August 2021 the FCA stopped BDSwiss Holding PLC and the BDSwiss group from UK CFD business. The FCA found that 99% of UK clients traded through unauthorised overseas companies, and that the marketing made unrealistic return claims. The FCA ordered the firm to close positions and return client money.
E2Finance Magnates reported on 11 September 2024 that at least 10 senior BDSwiss staff had left and that 31 of 36 recent Trustpilot reviews described withdrawal problems. BDSwiss admitted difficulties with delayed payments and withdrawals.
StrongFinance MagnatesE3Trustpilot shows 2,830 reviews of www.bdswiss.com with a score of 2.1 out of 5. Recent 1-star reviews give specific amounts and dates. One client requested 1,311 euros on 27 August 2025 and was still waiting 5 months later. Another client requested 15,000 US dollars in August 2025 and was still waiting in April 2026. Trustpilot notes that BDSwiss has not replied to negative reviews.
StrongTrustpilotE4Trustpilot reviews from June and July 2026 report that BDSwiss moved client balances to TheCopperClub without consent. One client reports 21,490.13 euros moved and another reports 250 euros moved, each locked for 24 months.
StrongTrustpilotE5The Swiss Federal Council announced on 8 January 2026 a final judgment of the Bern Commercial Court dated 26 August 2025. BDSwiss AG must remove 'Swiss' from its name and the Swiss cross from its logo. BDSwiss AG could not show that more happens in Zug than emptying the mailbox.
E6The Securities Commission Malaysia Investor Alert List names BDSwiss with global.bdswiss.com and 2 Malaysian social media pages, added in 2024. The reason given is unlicensed dealing in securities.
E7The British Columbia Securities Commission added BDS Ltd., BDS Markets, BDSwiss GmbH, BDSwiss Holdings Ltd. and BDSwiss LLC to its Investment Caution List on 11 May 2021. The BCSC says BDSwiss is not registered in British Columbia but accepts residents there.
E8Québec's AMF published a warning on 5 May 2021. The AMF says BDS Ltd is not registered and may not solicit investors in Québec, and names www.global.bdswiss.com and www.bdswiss.com.
E9BaFin warned on 1 March 2022 that BDS Markets in Ebène, Mauritius, which also operates as BDSwiss Markets, has no German authorisation for banking or financial services.
StrongBaFin consumer warningE10The Seychelles FSA securities dealer list ties BDSwiss (Seychelles) Ltd to the trade name BDSWISS, the website global.bdswiss.com and the email domain bdswissglobal.com. The listed address is in Global Village, Jivan's Complex, Mont Fleuri, Mahé.
E11The FSC Mauritius public register names BDSwiss Markets (Mauritius) Ltd as an investment dealer, full service dealer excluding underwriting. Amicorp (Mauritius) Limited is the management company, and the register shows no website.
E12km.bdswiss.com, global.bdswiss.com, www.bdswiss.com and the mirror sites km.bdswiss-tr.com and km.bdswissvnm2.com all redirect permanently to dashboard.bdswiss.com, a client login page. No public BDSwiss website with terms or licence details remains.
ModerateBDSwiss websitesE13Finance Magnates reported on 20 July 2026 that the BDSwiss homepage had stopped loading, that new sign-ups were refused, and that clients reported balances moved to TheCopperClub. Its email to the BDSwiss press address bounced.
ModerateFinance MagnatesE14Trustpilot shows 30 reviews of global.bdswiss.com with a score of 1.5 out of 5. Reviewers report withdrawals pending since July to October 2024, including 7,390 US dollars held since July 2024 for a money manager and his clients.
ModerateTrustpilotE15BrokersView lists 2025 complaints with amounts and account numbers. One client reports 857.34 US dollars from introducing broker account 1741201 pending for 1 year. Other clients report 305 US dollars blocked on global.bdswiss.com and 50,000 US dollars held for 6 months.
ModerateBrokersViewE16TheCopperClub is run by Tempestas Development Limited, UK company 15964692. The site sells copper rights held for 24 months, and its disclaimer says copper rights are not securities, derivatives or collective investment schemes.
ModerateTheCopperClub websiteE17The CySEC register lists Viverno Markets Ltd, formerly BDSwiss Holding Ltd and BDSwiss Holding PLC, with Cyprus investment firm licence 199/13 as withdrawn. CySEC records a withdrawal decision of 17 March 2025, announced on 9 May 2025, and a judicial review.
E18FinanceFeeds reported that CySEC withdrew the Cyprus licence because the company had done no investment business since 1 January 2024. FinanceFeeds also reported a 100,000 euro CySEC fine in 2023 for margin and disclosure failures.
ModerateFinanceFeedsE19The Internet Archive copy of km.bdswiss.com from 1 May 2026 names BDSwiss Investments Ltd of Mwali, Comoros, company HY00423197, with MISA licence T2023244. The same page shows FSC Mauritius and FSA Seychelles licence numbers of other group companies under the heading 'Regulated & Transparent Environment'.
E20The FSCA register names BDSWISS MARKETS SA (PTY) LTD as financial services provider 49479, company 2015/156886/07, at 96 Rivonia Road, Sandton. Its products are advice and intermediary services under Category I and discretionary services under Category II. The register lists no key individuals and no representatives.
ModerateFSCA FAIS registerE21The Cyprus companies registry shows company HE 300153 registered on 23 January 2012. The current name is Viverno Markets Ltd, and earlier names were BDSwiss Holding Limited, BDSwiss Holding PLC and Keplero Holdings Limited.
E22The domain registration record shows bdswiss.com registered on 9 April 2013. The mirror domains bdswiss-tr.com and bdswissvnm2.com, registered in 2023 and 2024, use the same name servers as bdswiss.com.
ModerateDomain registration recordE23Few positive Trustpilot reviews date from after mid-2024. One 5-star review from October 2024 says withdrawals arrived despite delays, and one from October 2025 praises fast deposits.
WeakTrustpilot
The other side
The strongest case in this broker’s favour.
BDSwiss was a real, large broker for more than 10 years, and several facts count in its favour.
- The BDSwiss group started in 2012. The Cyprus company record and the bdswiss.com domain record confirm that start.
- The BDSwiss group was once an EU-regulated broker, licensed by CySEC in Cyprus.
- BDSwiss group companies hold real licences in Seychelles, Mauritius and South Africa.
- The Seychelles FSA register links global.bdswiss.com to BDSwiss (Seychelles) Ltd, so the BDSwiss websites are not a copy of another firm.
- The withdrawal problems may come from a failing business rather than a plan to take money. BDSwiss lost its Cyprus licence and its Swiss branding between 2024 and 2026.
- In September 2024, BDSwiss told Finance Magnates that all withdrawal issues were being reviewed and would be resolved.
- One Trustpilot client wrote in October 2024 that withdrawals arrived despite delays.
- We found no fraud charge or fraud conviction naming any BDSwiss company.
What would change this
What we would need to see to revise the verdict.
Clear proof that BDSwiss is paying clients in cash would lower the risk rating.
- A dated statement from BDSwiss on paying all pending withdrawals, backed by new client reports of money received.
- A real option for clients to cash out balances moved into TheCopperClub at full value, without the 24-month wait.
- A public statement from FSC Mauritius or the Seychelles FSA on how BDSwiss client money is being returned, for example through a named administrator.
Other facts would raise the risk rating.
- A regulator sanction over the copper conversion.
- A liquidation of a BDSwiss company with no payouts to clients.
- Reports of fees demanded before a withdrawal is released.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Seychelles FSA securities dealer list
Open the Securities Dealer tab and find BDSwiss (Seychelles) Ltd.
FSC Mauritius Online Public Register
Search the name BDSwiss to see BDSwiss Markets (Mauritius) Ltd.
FSCA financial services provider search
Enter FSP number 49479 to see BDSwiss Markets SA (Pty) Ltd.
CySEC entry for Viverno Markets Ltd, formerly BDSwiss Holding
Shows Cyprus licence 199/13 and its withdrawal.
Cyprus companies registry: HE 300153
Shows the current and former names of the BDSwiss Cyprus company.
FCA press release on BDSwiss (2021)
UK regulator action against the BDSwiss group.
Swiss Federal Council release on the BDSwiss AG judgment
Court order to drop 'Swiss' and the Swiss cross, in German.
Securities Commission Malaysia Investor Alert List
Lists BDSwiss and global.bdswiss.com for unlicensed dealing.
BCSC Investment Caution List: BDSwiss
British Columbia warning on BDSwiss companies.
AMF Québec warning: BDS Ltd
Québec warning naming global.bdswiss.com and bdswiss.com.
BaFin warning: BDS Markets
German warning on BDS Markets in Mauritius.
Trustpilot reviews of BDSwiss
Client reviews, many about pending withdrawals.
Frequently asked questions
Quick answers about this broker’s safety.
Is BDSwiss a scam?
Likely yes. Since mid-2024, BDSwiss clients report withdrawals held for months or longer. From late May 2026, clients report that BDSwiss moved their balances without consent into copper rights locked for 24 months. By July 2026, the BDSwiss websites only led to a client login page.
Is BDSwiss a fraud?
We found no fraud charge or fraud conviction naming any BDSwiss company. We assess the risk of fraud as high, because clients report money that does not come back as cash. In 2021 the UK FCA found misleading BDSwiss marketing and ordered the group to return UK client money.
Can I still withdraw money from BDSwiss?
Many clients say no. Reviews on Trustpilot and BrokersView describe withdrawals pending since 2024, with support blaming technical issues. In 2026, some clients report that BDSwiss moved their balance into TheCopperClub instead of paying it out.
What is TheCopperClub, and why is my BDSwiss balance there?
TheCopperClub is a website run by Tempestas Development Limited, a UK company. TheCopperClub sells copper rights that are held for 24 months. Its disclaimer says copper rights are not securities, derivatives or fund units. Clients report that BDSwiss moved their balances into TheCopperClub without asking first.
Is BDSwiss regulated?
BDSwiss group companies hold a securities dealer licence from the Seychelles FSA and an investment dealer licence from FSC Mauritius. The South African company holds an FSCA licence for advice and intermediary services. The Seychelles, Mauritius and South African licences are offshore or limited in scope. None of the 3 licences belongs to BDSwiss Investments Ltd, the Comoros company named on km.bdswiss.com.
What is the BDSwiss MISA licence worth?
Very little. MISA, the Mwali International Services Authority, licenses companies on the Comoros island of Mohéli. A MISA licence gives clients far less protection than a licence from a major regulator. We could not confirm MISA licence T2023244 for BDSwiss Investments Ltd.
Why did BDSwiss lose its Cyprus licence?
CySEC suspended the Cyprus company, Viverno Markets Ltd, formerly BDSwiss Holding PLC, in October 2024. CySEC withdrew licence 199/13 by a decision of 17 March 2025. Trade press reported that the company had done no investment business since 1 January 2024.
Is BDSwiss still accepting new clients?
No. Finance Magnates reported in July 2026 that new accounts could not be opened. The BDSwiss websites, including km.bdswiss.com and global.bdswiss.com, now redirect to a client login page.
Which company holds my BDSwiss account?
The company depends on the website you used to sign up. km.bdswiss.com named BDSwiss Investments Ltd in the Comoros. The Seychelles FSA register links global.bdswiss.com to BDSwiss (Seychelles) Ltd, also called BDS Ltd. Check your client agreement for the exact company name.
Is BDSwiss a Swiss company?
No. In a final judgment of 26 August 2025, a Bern court ordered BDSwiss AG to drop 'Swiss' from its name and the Swiss cross from its logo. The court found that nothing more happened at the Zug office than emptying the mailbox. The BDSwiss group had its headquarters in Cyprus.
What did the UK FCA do about BDSwiss?
On 5 August 2021, the FCA stopped BDSwiss Holding PLC and the BDSwiss group from selling CFDs in the UK. CFDs are bets on price moves. The FCA found that 99% of UK clients traded through unauthorised overseas companies, and ordered the group to return client money.
Is BDSwiss a clone of another broker?
No. The Seychelles FSA register links global.bdswiss.com to BDSwiss (Seychelles) Ltd, so the BDSwiss websites belong to the real BDSwiss group. The risk with BDSwiss comes from the conduct of the BDSwiss group itself, not from a copycat website.
Are BDS Markets and BDSwiss the same?
Yes. BaFin's 2022 warning names BDS Markets in Mauritius and says BDS Markets also operates as BDSwiss Markets. Trade press reports that the BDSwiss client portal now uses the BDS Markets name.
How old is BDSwiss?
About 13 years. The Cyprus registry shows the group's former parent company registered on 23 January 2012. The domain bdswiss.com was registered on 9 April 2013.
What should I do if BDSwiss owes me money?
Send a written withdrawal request and keep every email, ticket number and screenshot. Do not accept a move into copper rights or tokens without legal advice. Complain to the regulator of the company in your client agreement, and ask your card issuer about a chargeback. Never pay a fee to anyone who promises to recover your money.
Is my money safe with BDSwiss?
We do not consider money safe with BDSwiss. Clients report withdrawals pending for over a year and balances moved into a 24-month copper lock-up. Offshore licences in Seychelles, Mauritius and the Comoros give far less protection than an EU or UK licence.
What we recommend
The practical takeaway from everything above.
Do not open an account or deposit money with BDSwiss or BDS Markets.
- If BDSwiss holds your money, send a written withdrawal request through the client portal and by email. Keep copies of both messages.
- Save every ticket number, email, account statement and screenshot of your balance.
- Do not agree to move your balance into copper rights, tokens or any other product without independent legal advice.
- Find the company name in your client agreement. Then complain to the regulator that licensed the company in your client agreement, for example the Seychelles FSA for BDS Ltd or FSC Mauritius for BDS Markets.
- If you paid by card, ask your bank about a chargeback, which is a card refund claim. Act quickly, because banks set time limits.
- Never pay a fee to anyone who promises to recover your money. Recovery offers that ask for money first are a common second scam.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed November 12, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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