Explore the reported shutdown of BDSwiss’s offshore operations, halted new registrations, its Seychelles and Cyprus licence status, regulatory history, and customer complaints over withdrawals and fund transfers.
BDSwiss Offshore Business Appears to Shut Down, Halting New Registrations in July 2026
The offshore operations of forex and contracts for difference (CFD) broker BDSwiss appear to have shut down. As of 20 July 2026, its global website, registered with the Seychelles regulator, was no longer accessible as normal, with all homepage traffic redirected to the login dashboard. The broker had also stopped accepting new account registrations, with users attempting to register shown an “Unable to create account” message. (Source: Finance Magnates, BDSwiss's Offshore Homepage Is No Longer Reachable, Stops New Onboarding, published: 20 July 2026.)
The branding displayed on the login dashboard has been changed from BDSwiss to BDS Markets. The company has operated under the BDS Markets name for some time.
Exit Timeline and Licence Status
Archived pages from the Internet Archive show that the BDSwiss homepage was still operating normally before 15 May 2026, indicating that the apparent exit occurred between 15 May and 20 July 2026. At the time of publication, BDSwiss was still listed as active in the Seychelles Financial Services Registry, suggesting that the broker continued to hold its offshore licence. (Source: Finance Magnates, same report as above, citing Internet Archive records and the Seychelles Financial Services Registry.)
There is uncertainty surrounding its authorisation in the United Arab Emirates. The following are the key milestones relating to the broker’s UAE licence:
BDSwiss obtained a Category Five licence from the UAE Capital Markets Authority (CMA) in 2024, allowing it to promote products and services in the UAE and recruit traders for its offshore subsidiary.
As of the date of the report, the validity of the licence remained unclear, as the CMA’s registration records showed no licence details or information about registered directors or employees.
Finance Magnates attempted to contact BDSwiss regarding the status of its operations, but its press enquiry email was returned as undeliverable.
From Cyprus Authorisation to Repeated Regulatory Action
BDSwiss was once a well-known brand in the CFD sector, with its operations centred on Cyprus. The company obtained a licence from the Cyprus Securities and Exchange Commission (CySEC) in May 2013. Its Cyprus-licensed entity subsequently faced a series of regulatory actions, including a fine, a name change and the withdrawal of its licence. (Sources: Finance Magnates, CySEC Slaps €100K Fine on BDSwiss for Non-Compliance / CySEC Withdraws BDSwiss' B2B Unit Viverno Markets' CIF License.)
Regulatory Action Timeline
The table below summarises the principal events and outcomes involving the brand under the Cyprus regulatory framework in chronological order:
| Date | Entity | Regulatory Action | Outcome |
|---|---|---|---|
| 2013-05 | BDSwiss Holding Ltd | CySEC granted a Cyprus Investment Firm licence | Authorised to operate a retail CFD business |
| 2023-07 | BDSwiss Holding Ltd | Fined for breaches relating to initial margin and risk warnings in 2021 | Administrative fine of €100,000 imposed |
| 2024-10 | Viverno Markets Ltd | CySEC fully suspended its CIF licence | Given one month to address the deficiencies |
| 2025 | Viverno Markets Ltd | Licence withdrawn after conducting no business during the six months preceding its suspension | Cyprus operations ended |
It should be noted that BDSwiss had already stopped providing services to retail traders under its Cyprus licence before the licence was withdrawn. After being fined €100,000 in 2023 for breaches relating to initial margin and risk warnings, the company changed its corporate name and brand to Viverno and removed all retail domains from the CySEC register, retaining only its B2B division.
At the same time, the company’s Cyprus office experienced a large-scale departure of employees in 2024, with several senior executives leaving in succession, including its chief marketing officer, chief sales officer and global head of sales.
Customer Complaints and Disputed Fund Transfers
Before and around the apparent shutdown of its offshore operations, several users claiming to be BDSwiss customers reported negative experiences on the Trustpilot review platform. Some alleged that BDSwiss transferred their account balances to TheCopperClub without their consent. TheCopperClub appeared to offer copper trading services without any regulatory authorisation. (Source: Finance Magnates, same report as above, citing Trustpilot user reviews.)
Customer feedback was primarily concentrated in the following areas:
A high proportion of negative reviews concerned withdrawals, making them a major focus of complaints.
Disputes over account balances being transferred to the third-party entity TheCopperClub.
The broker had a TrustScore of only 2.1 on Trustpilot and was rated “Poor” by the platform.
Personnel changes associated with the brand have also continued to be reported. Former BDSwiss chief marketing officer Achilleas Achilleos has joined Alchemy Markets, while the former chief revenue officer launched a proprietary trading platform after leaving the company.
Questions About the Apparent Closure of BDSwiss’s Offshore Operations
Why is the BDSwiss offshore website no longer accessible?
As of 20 July 2026, its Seychelles-registered global website was no longer accessible as normal. Homepage traffic was redirected to the login dashboard, while new accounts could not be created and the page displayed an “Unable to create account” message. According to the report, this change occurred between 15 May and 20 July 2026.
What is the relationship between BDSwiss and BDS Markets?
The branding displayed on the login dashboard has been changed from BDSwiss to BDS Markets. According to the report, the company has operated under the BDS Markets name for some time.
Does the website shutdown mean BDSwiss has lost its offshore licence?
Not necessarily. At the time of the report, BDSwiss was still listed as active in the Seychelles Financial Services Registry, indicating that the broker continued to hold its offshore licence even though its website and new-user registration were unavailable.
What is the current status of BDSwiss’s Cyprus licence?
The brand’s Cyprus-licensed entity, BDSwiss Holding Ltd, was later renamed Viverno Markets Ltd. Its CIF licence was fully suspended by CySEC in October 2024 and withdrawn in 2025 because it had conducted no business during the six months preceding the suspension, marking the end of its Cyprus operations.
What issues have users mainly reported on Trustpilot?
User feedback has focused on withdrawal difficulties and account balances allegedly being transferred without consent to the unregulated entity TheCopperClub. The broker had a TrustScore of only 2.1 on Trustpilot and was rated “Poor”.
