Full Review of Banc De Swiss Educational Resources for Traders
Banc De Swiss is a CySec regulated broker operating on a SpotOption platform. On our broker review about Banc De Swiss we came to the conclusion that they weren’t as sharp as a Swiss army knife but what about the education they offer? After all; “they focus on who really counts. You”.
What Kind of Education Does Banc De Swiss Provide?
On the main page I immediately discovered “Trader Education” which sadly was not clickable. This doesn’t give much confidence but it’s only the beginning. The main menu also includes a “Binary Options” section where you can choose to “get started”. Here you are presented with a few choices starting with a very brief informational video demonstrating how to take and how to open and fund a new account, nothing you don’t get anywhere else.
Next in line is the “How to Trade” section, here you are shown the good old “you just need to pick a direction, call or put”. Not hard core training, just more general info about different types of options you can trade, such as long term, short term or pair trading. If I would have to name something positive about this section though, it would be the fact that every option type is explained with a short video clip. A video demonstration is always way better than reading page after page! So I won’t blame them for not writing more than a few lines here. There were a few more sections included but I can’t really consider them as binary options education because they don’t add anything. This includes the “Expiry Rate Rules” which explains how expiries are calculated. It’s not that you would need to calculate them on your own, it’s just a good idea to know how it is done.
Let’s not give up on the old rusty Swiss knife yet! There isn’t much in terms of trading education but there is a Market News site where you can learn a great deal about different assets. This is a colorful page because the different assets and news are organized in different colors and sections. For example, you can choose an asset which is displayed as a specific color and then read today’s news about it. You can find some valuable information here about key support/resistance levels and learn what kind of impact fundamentals had on a certain asset. Want to know which direction an asset is expected to go next? No problem, for each Forex pair, you are suggested three major support levels and three major resistance levels to give you an idea where price might be heading. Still not enough? Check the “Trend Index” box right below the provided S/R levels to learn whether the trend is considered bullish or bearish!
For the fundamental traders there is an economic calendar as well where the impact of each news is measured with exclamation marks and colors. The FAQ section where common questions are answered, such as the various platform tools or how to open an account, is pretty basic but the glossary makes up for it. If any words don’t make sense to you, the glossary is worth a visit.
Banc De Swiss Education, Does it Suck or Not?
For once I didn’t find the typical E-book and training videos we see everywhere else. Is that a bad or good thing? Considering that Banc De Swiss provides their own videos, even though very basic, I would say its good they skipped the “every other broker has offered those damn E-books already”. However, it wouldn’t have hurt with more educational articles and a more complete educational center. On the positive side, I really liked their effort on the Market News section. The colored sections was a brilliant idea that made reading the posts more enjoyable. Most importantly perhaps, the navigation was made pain free thanks to the colorful currency pairs list where you could select to read about major assets, learn about support and resistance levels and the direction of the trend.
Overall, the provided education needs some improvement, it sucks, but there are some decent resources for experienced traders. Perhaps the same guys who did the Market News page can be given the task to complete the rest of the education center?