Swissquote Review
Stocks, cryptos, Forex and CFDs, robo-advisory, credit solutions, competitive fees, efficient tools and simplified transactions. Access millions of products, safely and securely.
Broker: Swissquote
Leverage: 1:100 | 1:30
Regulation: FINMA, FCA, MFSA, SFC, DFSA
Min. Deposit: 1,000 US$
HQ: Switzerland
Platforms: MT4, MT5, eTrader, Swiss DOTS
Found In: 1996
Website: swissquote.com
Swissquote Licences
Swissquote Group Holding Ltd - Authorized by FINMA (Switzerland)
Swissquote Ltd - Authorized by FCA UK, registration number 562170
Swissquote MEA Ltd - Authorized by DFSA (Dubai)
Swissquote Asia Ltd Authorized by SFC Hong Kong
Swissquote Financial Services (Malta), Ltd - authorized by MFSA, (Malta), registration number C 57936
Overview
Swissquote - the first financial platform launched in 1996, which offered free access to prices for all securities traded on the Swiss stock exchange.
Pros
Multi-regulated broker
Access to many markets and products
Online banking through Swissquote Bank is available for traders
Offers the MetaTrader platform suite
Great educational resources
Cons
High minimum deposit
High trading fees
Rating of the company overall
Reliability ⭐⭐⭐⭐
Platform ⭐⭐⭐⭐
Commissions ⭐⭐⭐
Support ⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐⭐
RATING: 4.2
What is Swissquote?
In 1990, Marvel Communications SA was established to provide financial software and web applications. This was the beginning of the company. The business model was transformed into Swissquote in 1996 with the launch of the first financial platform. This platform offered private investors free access to real-time prices on all securities on the Swiss stock exchange. It also had the mission to democratize banking.
Currently, Swissquote is visited over 2 million times per month. It is still Switzerland's most popular financial portal.
Swissquote Group Holding Ltd, Switzerland's largest provider of online trading and financial services, is listed on SIX Swiss Exchange. Its headquarters are in Gland (VD), with offices in Zurich and London.
Swissquote is a reliable broker?
The broker has a solid reputation and a good track record. However, its trading conditions, as we'll see in Swissquote Review, are very competitive.
The milestones of Swissquote's takeover of MIG Bank Ltd by MIG Forex, one of the most prominent Forex brokers worldwide, have also been a strategic pather for PostFinance as well as many other leading financial institutions such UBS, Commerzbank and Vontobel.
Swissquote offers a wide range of online trading platforms. However, the user-friendly platform also provides solutions for eForex and ePrivate banking. Swissquote offers a low-cost service to private clients. However, they also offer specialized services for corporate clients and independent asset managers.
Specifications
Awards
Many industry awards recognize the achievements and efforts of Swissquote.
The firm also actively participates in social support and contribution. Swissquote has been a global partner with Manchester United since 2015, one of the most recognizable football teams in the globe.
Swissquote: Safe or scam?
Swissquote is a safe broker. The broker is regulated by several top-tier authorities such as the FCA in UK and FINMA Switzerland.
Is Swissquote legit?
First, Swissquote Bank Ltd has a banking license issued by its supervisory authority, the Swiss Federal Financial Market Supervisor Authority (FINMA) and is a member the Swiss Bankers Association.
Additionally, the Swissquote Bank has authorized the appropriate country regulators to authorize the branches that are already established in the world.
This is the reason why Swissquote has a reputable regulation and other authorities that lays out a clear statement on transparent, trustful operations.
What can you do to be protected?
The broker's strict regulation means that all transactions and actions are closely monitored and reported to the authorities. The broker and bank are also fair to clients. Authorities can fine entities for breaching the rules, but they also compensate clients and cover their risks through various means.
This is why all traders should only consider well-regulated brokers and not fall under offshore trade, which lacks any guideline.
Leverage
Swissquote lists a Standard leverage level of 1:00 on its website. The regulation states that a particular entity is subject to specific requirements. Therefore, rates can change depending on whether the trader professional or retail level affects the rate.
European clients are entitled to use a maximum 1:30 for major currencies pairs and even lower for other instruments.
Dubai-based entities (See our best forex broker in UAE) and Hong Kong might be eligible for a higher 1:200.
However, traders must learn to use leverage wisely as higher rates increase risk and can lead to loss of money.
Types of accounts
The four trading accounts optimized by Swissquote according to trader type can be private or public. Swissquote reviews will not cover private or retail trading accounts for business accounts. You can visit the official website.
Private account: There are four trading accounts. These include MT4, MT5 or advanced traders with the ability to trade CFDs and FX. Trading account allows you to optimize your portfolio through Stocks trading. There are over 3,000,000 products and 60 exchanges.
Robo Advisors account is an investment bank with innovative portfolio management, which Swissquote is well-known for.
The Crypto Assets account allows you to trade 12 major cryptos at very low fees. All the above-mentioned accounts are also available in demo mode to help you get used to the system.
Trade Instruments
Trading is a skillful and rewarding profession. Either beginning or experienced traders will find the right instruments for their needs. There are many options available: Shares; Warrants and Derivatives; Options and Futures; Funds ; Indices; Forex; Commodities, Bonds, and Cryptocurrencies.
You can get attractive rates for ETFs, Funds and Swiss DOTS from as low as 9 pips and Options and Futures starting at 1.5 CHF. The attractive rates offered for Funds, ETFs and Swiss DOTS starting at 9 pips, Options, Futures, and Futures starting from 1.5 CHF.
Fees
The Swissquote trading costs for all instruments vary depending on the trader's activity and trading size, but generally they are low spread. The total swissquote fees include spread, funding fees, inactivity fees, and swap fees. (also see the swap-free trading account). Below is a comparison of Swissquote costs.
Spreads
Spreads for Sqissquote are different for every account. Each account has its own fee structure , while costs can be built into a spread-only basis like Forex trading or with a Commission for Stocks or Investment.
E.g. when trading Cryptocurrencies in amounts equivalent to 5-10000 CHF, will be charged. As long as the amount is greater than it, it can reach 0.75% or even 0,5%.
Below are typical Swissquote trading fees for popular instruments. You can also see that the fees are fairly average for all brokers, which each has its own structure.
Deposits and Withdrawals
Swissquote makes it easy to transfer funds quickly and easily. There are many funding options, including Wire Transfer, Credit Cards Deposits and China UnionPay. You can also use newly presented Crypto Wallets.
Minimum Deposit
Swissquote Minimum deposit is 1,000$ for Standard forex accounts. It can go higher depending on the size of the trader or the account you may use.
Swissquote Minimum Deposit vs Other Brokers
Withdrawals
Swissquote withdrawals processed through unique Swissquote eBanking services that allow to add or withdraw funds and manage account simply andconveniently. Being a Swiss bank you can issue your very own Swissquote Card with all the benefits to pay and withdraw right from the cash-machine.
These fees vary depending on the method of payment, but generally Swissquote doesn't charge deposit or withdrawal fees, nor do they charge deploy account maintenance fees.
Trade Platforms
The Swissquote provides direct access to the markets provided through the highly secure and powerful platforms that the company chose to offer. These are also separated by the financial instrument client trades, or investor's profile.
Web Platform
You have the option of eTrading platform or Swiss DOTS, Mobile applications or Themes Trading. The proposal is quite impressive. Please see the below information to learn more and then choose the best option for you:
eTrader is an intuitive multi-asset platform that allows traders to reach their goals in a straightforward and easy way. Widgets for eTrading platforms provide account overviews, ratings, and analysis as well as daily analysis via Trend Radar.
Swiss DOTS a platform that offers derivatives with over 90,000 OTC product offers competitive conditions at 9. - flat with a range of extensive tools
Desktop Platform
You can also choose the platform that best suits your device settings from the download center. You can also trade Forex and CFDs via the MT4 or MT5 platforms.
Mobile Platform
Free applications designed for any device iPhone or Android, Smartwatch, and even Apple TV offer sophisticated technological solutions. The platform can connect to many tools, allowing clients to trade via a virtual reality headset or MacOS screensaver, TV, and other means.
Robo Trading
Another amazing Swissquote feature: autonomous investing. This requires a separate look. Without any emotional impact. Robots are able to deliver precise results, increased performance, and time savings.
The robo advisor is an electronic asset manager. It creates portfolios and monitors them around the clock.
Robo-Advisors uses the same algorithm as the Swissquote Quant Fund. It won the Lipper Fund Award in 2016 for its best performance over three consecutive years.
Customer Support
Our Swissquote review also highlights the qualified customer support that is available 24 hours a day via Live Chat, phone lines and emails. The region defines the customer service with hotlines and hours. This is a well-organized structure that allows traders to remain in touch.
Education
Swissquote's education centre allows you to access professional-prepared education materials. These include key elements, analysis and courses, webinars, and ebooks. You also have access to Dem account and powerful technical analysis built into the platforms. Also, you can get news feeds and price alerts.
Conclusion
Swissquote review reveals a firm that is established according to Swiss financial laws. The broker also holds all licenses and adheres to strict regulations in every global jurisdiction. Swissquote bank offers multi-asset solutions for traders. It has access to a wide range of exchange-traded sideways. The technical solution provided by the company is impressive too. In addition, all traders can take advantage of the best online-banking solutions for their comfort and needs. It is worth considering educational materials, trustworthy offers, and support offices around the world.