BDSwiss partners with PayRetailers to address payment landscape in LATAM

Rick Steves

PayRetailers’ suite of payment options via single seamless API integration will be available for BDS Markets Ltd. only.

BDSwiss has partnered with PayRetailers for its Latin America operation as the payment platform provides access to cash-based payment types which are still the main pillars of money transfers in LATAM as well as access to all major modern alternative payment methods (APMs).

Nearly 25% of LATAM’s population remains completely unbanked and the vast majority is underbanked, which is a particularly complex landscape of payment processing.

Still, it is possible to tackle the issue by offering clients residing in Latin America the ability to process deposits, transfers, and withdrawals via Visa Mastercard.

Andreas Evripidou, the BDSwiss Head of Payments, commented: “We are very pleased with our partnership with PayRetailers, because the new payment features will provide flexibility, safety, and ease when it comes to deposits and withdrawals for our clients in Latin America. We remain committed to always providing superior trading and investing experience to all our clients.”

PayRetailers supports over 250 payment methods, from alternative payment methods to bank transfers, local cards, QR Codes, and wallets.

It offers a suite of alternative payment methods and has offices in 12 major Latin American countries, including Chile, Peru, Mexico, Brazil, and Argentina.

PayRetailers’ suite of payment options via single seamless API integration will be available only for BDS Markets Ltd.

The FCA-regulated operation of BDSwiss has, however, been suspended in the United Kingdom. The firm complains they were not given any notice and were not made aware of specific client complaints filed with the FCA — “which would have allowed us to proceed in rectifying the matter prior to this decision”, the FX broker stated.

The BDSwiss Group has suspended all promotional, marketing and onboarding activities towards UK audiences back in mid-July, and after giving clients a proper notice period proceeded to terminate existing UK accounts.

According to their official statement, it appears that an isolated group of partners (affiliate and introducing brokers) may have intentionally breached our agreements when it comes to their communications.

“We do not condone such behaviour and have already identified and terminated our agreements with these individuals. To ensure that we prevent such incidents from occurring again in the future, we have also launched an internal investigation into our global network of partners”, the firm stated.

According to the UK’s Financial Conduct Authority, BDSwiss Group played up the fact that one of its firms was regulated in the UK to “convey legitimacy on the group as a whole.”

The FCA investigation found that 99% of BDSwiss’ UK consumers were actually onboarded to the group’s entities regulated elsewhere.

Read this next

Industry News

Robinhood posts strong numbers amid growth in funded accounts

Robinhood, one of the largest trading platforms in the US, has announced the results of the third quarter which shows some robust growth even though the company did not push ahead with any major plans related to crypto.

Inside View

MetaTrader 4 – What Is It?

MetaTrader 4 is the most widely used Forex platform among brokers. What are the platform’s primary features?

Digital Assets

BlockBank launches DeFi application with Robo Advisor

BlockBank, a large mobile banking platform, has announced the launch of its DeFi application which will combine decentralized finance with AI-powered technology to help traders and investors make better trading decisions in the crypto market.

Digital Assets

eToro announces crypto staking and underlying assets for Australians

Australian users opening cryptoasset positions on eToro can now purchase the underlying asset. Soon eToro will enable coin transfers from the eToro platform to the eToro Wallet.

Digital Assets

EQONEX announces international sales team to show off digital asset offering

“It is time to show the world the quality of the EQONEX group offering, and I am excited to welcome such a high caliber group of salespeople to the organization”.

Retail FX

Webull donates 8,000 Brooklyn Nets tickets to New Yorkers

“The entire Webull team is thrilled that our first-ever sports partnership is with the Brooklyn Nets, who are only five subway stops from our headquarters in New York.”

Digital Assets

AEX integrates with fiat and crypto custodians Banxa and Xanpool

Spot trading, flexible savings, DeFi mining, are several ways AEX Global allows users to participate in the wider crypto space.


Barchart launches Microsoft Excell add-in

“Whether looking to perform their own analysis, add other data sources, build macros or anything else leveraging the powerful features of Excel, we now provide that ability.”

Retail FX

Inceptial expands Belarussian FX broker into China and Japan

“We are fully aware of the needs, customs, aspirations and limitations of the different markets of Asia, after careful research. We look forward to sharing our success with our new Asian partners on this journey.”