Swissquote
- Written By Forex
- Updated:
Swissquote is an online financial service company in Gland, Switzerland. It started in 1996 and is now a top online trading place in Switzerland. They have over 1,200 people working there and more than 650,000 customers all over. Swissquote wants to give both regular and professional customers good trading options, so they can trade better.
They let you trade many things like Forex, commodities, cryptocurrencies, stocks, indices, metals, energies, options, futures, bonds, and ETFs. You can trade most of these through CFDs, but some customers can just buy and hold stocks and ETFs outright. In this review, we’ll look at what’s important about Swissquote to help you decide if you want to trade with them. Swissquote got an average score of 3.4 out of 5 on Trustpilot, from 3,035 reviews. About 41% of customers gave them 5 stars, while 21% gave them only 1 star.
Swissquote Overall Summary Table | |
Year Founded | 1996 |
Minimum Deposit | $1,000 |
Tradable Instruments | Forex, soft commodities, cryptocurrencies, stocks, indices, metals, energies, options, futures, bonds, ETFs, CFDs |
Open an Account | How to Open an Account at Swissquote |
Trading Costs | Spreads, Fees, and Commissions at Swissquote |
Key Pros and Cons
First, let us briefly look at Swissquote’s main strong points and weaknesses.
- Key Pros
- Sophisticated trading platforms, including MT4 and MT5
- Strictly regulated in multiple jurisdictions
- A varied range of tradable markets across all major asset classes
- Zero commissions on Premium and Prime Accounts
- Tight spreads on major currency pairs
- A proprietary trading platform (CFXD)
- AutoChartist and other useful trading tools
- A rich selection of educational resources
- A knowledgeable clients support team
- Key Cons
- High initial deposit requirements ($1,000)
- Does not accept US, Canadian, and Japanese clients
- No fixed-spread accounts
Company Information
The Launch of Swissquote
Swissquote is an online financial services provider that was launched in 1996 to provide traders with superior conditions, including zero commissions, tight spreads, multiple account options, and more. The broker allows traders to buy and sell multiple financial assets, including forex, commodities, cryptocurrencies, stocks, indices, metals, energies, options, bonds, futures, ETFs, and CFDs, using a range of advanced trading platforms that are available in desktop, web, and mobile versions. The minimum deposit required to start trading is $1,000 for entry-level Standard accounts.
A Broker with a Global Reach
Since its launch in 1996, the broker has continued to expand its reach and currently has offices in London, Zurich, Bern, Dubai, Malta, Hong Kong, Bucharest, Cape Town, Cyprus, and Singapore. In May 2000, Swissquote Group Holding Ltd (SQN) was listed on the SIX Swiss Exchange. The brand has grown into a global financial brokerage powerhouse, employing more than 1,200 people and serving over 650,000 clients from different parts of the world. Swissquote focuses on using the latest technologies to offer superior trading services to its clients across the globe. The broker is an official partner of Manchester United, the ZSC Lions, the Genève‑Servette Hockey Club, and the UEFA Conference League.
The Swissquote Group is comprised of the following corporate entities with their respective regulated offices:
- Swissquote Bank Ltd, regulated by the FINMA and SFBC, with headquarters located at Chemin de la Créteaux 33 1196, Gland, Switzerland
- Swissquote Ltd, regulated by the FCA, with registered offices at Boston House, 63‑64 New Broad Street, London EC2M 1JJ, the United Kingdom
- Swissquote MEA Ltd, regulated by the DFSA, with an office address at Al Fattan Currency House, Level 9, Office 904, Tower 2, DIFC, P.O. Box 121364 Dubai, the United Arab Emirates
- Swissquote Asia Ltd, regulated by the SFC, with offices located at Suites 3202-04, Level 32/F, ICBC Tower, 3 Garden Road, Central Hong Kong, China.
- Swissquote Financial Services, regulated by the MFSA, with registered address at Pender Gardens, St. Andrew’s Street, Saint Julian’s, STJ 1901, Malta
- Swissquote Pte. Ltd, overseen by the MAS, with registered offices at One Raffles Quay, North Tower, Singapore
- Swissquote Bank Europe Ltd, authorized by the CSSF, with an office location at 2 Rue Edward Steichen, L-2958 Luxembourg
- Swissquote Tech Hub Bucharest S.R.L, the software and tech division of the Group, located at Opera Center One Building, 1-5 Costache Negri Street, 5th floor, 5th District, Bucharest, Romania
- Swissquote Capital Markets Ltd, operating with a CySEC license and located at Spyrou Kyprianou 42, Emerald House, Floor 1, 3076, Limassol, Cyprus
- Swissquote South Africa (Pty) Ltd, regulated by the FSCA, with offices located at 183 Albion Springs, Cnr Albion Springs, Close & Main Road, Rondebosch, Cape Town 7700, South Africa
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Note that Swissquote does not offer its services to residents of certain jurisdictions, such as North Korea, Japan, the United States, Canada, and other regions.
Catering to Traders Worldwide
One of the impressive features of AvaTrade is its truly global reach, which is something that will appeal to traders all around the world. Their website is configured for over 25 separate countries and regions and supports at least 20 different languages.
Multiple Industry Awards
AvaTrade has won multiple industry accolades from reputable outlets, such as The European, International Business Magazine, FXEmpire, and Daytrading.com.
Why Trade with Swissquote?
Now, let us provide a quick list of the key features that we like about Swissquote.
Aspect | What we like |
Regulation | A reputable broker, licensed in multiple jurisdictions by some of the most stringent financial regulators, including FINMA, SFBC, FCA, CySEC, and SFC |
Pricing | Tight spreads and zero commissions on most account types |
Execution | A proprietary hybrid agency/principal model, ensuring swift order execution |
Trading | Multiple financial instruments across different asset classes, including forex, commodities, cryptocurrencies, stocks, indices, metals, energies, options, bonds, futures, ETFs, and CFDs |
Platforms | MT4, MT5, and a proprietary trading platform called CFXD, plus various advanced trading tools |
Customer Support | Responsive support representatives who are always ready to help clients via various contact channels |
Regulation
Swissquote has the go-ahead to do business in a bunch of places. In Switzerland, the Swiss Federal Financial Market Supervisory Authority (FINMA) keeps an eye on Swissquote Bank Ltd. They're also part of the Swiss Bankers Association. Over in the UK, Swissquote Limited is their branch, and the Financial Conduct Authority (FCA) gives them the thumbs up. The FCA is pretty serious about making sure everyone plays fair, stays safe, and does the right thing. In Dubai, Swissquote MEA Ltd. is doing its thing with a category four license from the Dubai Financial Services Authority (DFSA). Swissquote also has a branch in Asia with a type 3 license for foreign exchange trading from the Securities and Futures Commission (SFC) of Hong Kong. Plus, they've got another license from the Monetary Authority of Singapore (MAS). Around Europe, Swissquote has licenses from the Malta Financial Services Authority (MFSA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Supervisory Commission (CSSF) in Luxembourg. Here’s the full list of Swissquote's current licenses
Region | Entity | Authority | License Number |
Switzerland | Swissquote Bank Ltd | Federal Financial Market Supervisory Authority (FINMA) | N/A |
The United Kingdom | Swissquote Ltd | Financial Conduct Authority (FCA) | License No. 562170 |
Dubai | Swissquote MEA Ltd | Dubai Financial Services Authority (DFSA). | License No. F001438 |
Hong Kong | Swissquote (Asia) | Securities and Futures Commission (SFC) | License No. AZV127 |
Malta | Swissquote Financial Services (Malta) Ltd | Malta Financial Services Authority (MFSA) | Registration Code C 57936 |
Cyprus | Swissquote Capital Markets Ltd | Cyprus Securities and Exchange Commission (CySEC) | License No. 422/22 |
Singapore | Swissquote Pte. Ltd | Monetary Authority of Singapore (MAS) | License No. 226182 |
Luxembourg | Swissquote Bank Europe Ltd | Financial Sector Supervisory Commission (CSSF) | N/A |
South Africa | Swissquote South Africa (Pty) Ltd | Financial Sector Conduct Authority (FSCA) | License No. 43908 |
Having licenses from big regulators like FINMA, FCA, DFSA, CySEC, and MFSA means you can trust this broker. It shows they follow the rules in lots of places. The FCA keeps a close watch. If something goes wrong and the broker in the UK can’t pay up, clients there are covered by the Financial Services Compensation Scheme (FSCS). The CySEC group also has to pay into a fund that helps investors.
Right now, Swissquote isn’t allowed to work with people in the United States. They don’t have the go-ahead from the CFTC, and the US doesn’t allow CFD products anyway.
Regulation
3.5/5
- The multiple licenses improve trust
- The FCA regulation implies £85,000 compensation per covered client
- No CFTC license
KYC Procedure for Account Creation and Depositing
Opening a new live account with Swissquote is super quick. Once you’ve filled out the application, you Just deposit some funds and you’re good to go. Here’s how it works:
Creating your secure login: You enter a valid email and choose a solid password.
Completing the application form with your details: You enter your name, date of birth, city of residence, address, postcode, and phone number.
Choosing your trading account: Choose your preferred trading platform and account type (Standard, Premium, Prime, and Professional).
Checking your suitability status: You will be required to disclose information about your employment status and sources of income, as well as your trading experience. Based on your answers, if you are approved, you can proceed to the next step of the process. Your application will be rejected if you fail to provide accurate answers to some of the questions.
Agree to the terms: You need to tick the box at the bottom of the registration form to indicate that you agree to Swissquote’s Terms and Conditions.
Verifying your documents: When your online application is approved, you must upload some relevant documents, such as your proof of identity (a passport, national ID card, or driver’s license) and proof of residency (a utility bill or bank statement issued in the past three months) to verify your account.
It only takes a few minutes to apply for an account, but it might take a day to verify it. Make sure you put money in your account with one of our payment options so you can start trading.
Account Opening
4/5
- Fast sign-up process completed in a few minutes
- The registration includes a suitability test
- The account verification requires uploading documents
Account Types
This broker has four account types: Standard, Premium, Prime, and Professional. No matter which one you pick, you can trade all of Swissquote’s products. The accounts mostly differ in spreads, how much you need to deposit to begin, and the smallest and biggest trades you can make. Let’s check the accounts out.
Standard Account
This is the simplest live account type at Swissquote, with a minimum deposit requirement of $1,000. The Standard account incurs zero commissions on all tradable forex symbols and offers floating spreads from 1.7 pips. The minimum position size allowed on the Standard account is 0.01 lots, or 1,000 units of base currency (CCY). Stock trades incur commissions of $0.03 for US shares and 0.15% for UK, European, and Swiss stocks.
Premium Account
The Premium account has exciting features, including low spreads that start from 1.4 pips and zero commissions on most available markets, including forex. The minimum deposit required on this account type is $10,000, which renders it suitable for more advanced and experienced traders. Position size starts from 0.1 lots (10,000 units of base currency). The commissions on stock trades are slightly lower as Premium account users pay only $0.02 per share for US stocks and 0.12% for European, UK, and Swiss stocks.
Professional Account
The professional account is the most advanced trading account option at Swissquote. It comes with custom spreads and bespoke pricing depending on your trading activity. The minimum balance is determined by your planned trading volume. You can contact Swissquote for customized pricing according to your requirements. Trade size and leverage are also tailored to each customer’s unique needs.
Prime Account
With a minimum deposit requirement of $50,000, the Prime account is meant for traders with deep pockets, extensive knowledge, and sufficient experience in the financial markets. The account type offers tight spreads that start from 1.1 pips and zero commissions for forex pairs. The minimum position size is one standard lot (100,000 units of base currency). Clients benefit from discount commissions of $0.01 per US share and 0.09% for UK, Swiss, and European shares.
Feature | Standard | Premium | Prime | Professional |
80 FX Pairs | ||||
CFDs on Major Stocks, Commodities, Metals, and Bonds | ||||
ECN Execution | ||||
Minimum Account Balance | $1,000 | $10,000 | $50,000 | Custom |
Web and Desktop Platforms, MT4, and Mobile apps | ||||
Unlimited Free Wire Transfers | ||||
No Requotes | ||||
Negative Balance Protection | ||||
Fully Automated Execution | ||||
24/7 Support | ||||
Variable Contract Sizes (from 1 Unit) | ||||
Joint Account | ||||
Corporate Account |
Islamic Account (Swap-Free)
Swissquote has swap-free trading for its account types. The Islamic account works best if you’re Muslim and can’t pay swaps because of your religion. While this account doesn’t have swaps or interest fees for positions held overnight, there’s a admin fee on trades. If you already have a trading account, you can switch to a swap-free one, but you’ll need to reach out to Swissquote’s support team to set it up.
Demo Account
The broker has a practice account with fake money already in it. This lets new customers try out their trading plans before using real money in a real account.
Account Types
5/5
- Four major account types: Standard, Premium, Prime, and Professional
- Islamic accounts are available
- Demo accounts are available
Trading Fees and Other Costs
When you’re trading, always check out a broker’s fees and costs first. Just like with other CFD and forex brokers, Swissquote has a couple of main fees you should know about.
- Trading Fees: spreads, commissions, and overnight financing charges (swaps)
- Non-Trading Costs: account management fees, deposit and withdrawal fees, inactivity and currency conversion fees
Here is a breakdown of the two categories to give you an idea of how Swissquote positions itself on this front.
Costs/fees | What is this? | With Swissquote |
Spreads | The cost is incorporated into the price of what you trade. A wider bid-ask spread translates into higher costs. | Standard: from 1.7 pips Premium: from 1.4 pips Prime: start from 1.1 pips Professional: custom spreads |
Commission | A flat fee paid upon opening and closing a position as an alternative to charging via the spread | Standard: No commissions Premium: No commissions Prime: No commissions Professional: Custom |
Financing charges | The cost of holding a position open overnight | The broker does not charge an extra fee on top of the daily swap rates. |
Deposit fees | Fees charged by the broker to fund your account | None |
Withdrawal fees | Fees charged by the broker to withdraw money from your account | Bank transfers may incur additional fees. |
Inactivity fees | Fees charged on dormant trading accounts | A monthly inactivity fee of $10 after 6 months |
Spreads
Swissquote offers relatively high spreads across all account types as follows:
- Standard Account: Spreads start from 1.7 pips with no commissions
- Premium Account: Spreads start from 1.4 pips with no commissions
- Prime Account: Spreads start from 1.1 pips with no commissions
Let us take a look at the minimum spreads offered for the three retail accounts.
Instrument | Standard Account | Premium Account | Prime Account |
EUR/USD | 1.7 pip | 1.4 pips | 1.1 pips |
GBP/USD | 2.0 pips | 1.7 pips | 1.4 pips |
USD/JPY | 1.6 pips | 1.4 pips | 1.2 pips |
USD/CHF | 2.0 pips | 1.8 pips | 1.6 pips |
AUD/USD | 1.6 pips | 1.4 pip | 1.2 pips |
USD/CAD | 2.7 pips | 2.4 pips | 2.2 pips |
NZD/USD | 2.3 pips | 2.2 pips | 1.8 pips |
Because the broker doesn’t charge commissions, it makes money just from the spreads, adding a bit extra to deal with its trading expenses.
Let’s look at how much it costs to trade with the three kinds of accounts. Say you’re trading one standard lot of EUR/USD, where one pip move equals $10, and you open and close the trade at the exact same price. Using the minimum spreads, here’s what trading would cost for each account:
Standard Account
- Spread: 1.7 pips
- TOTAL COST: 1.7 x $10 = $17 per side and $34 per round turn
Premium Account
- Spread: 1.4 pips
- TOTAL COST: 1.4 x $10 = $14 per side and $28 per round turn
Prime Account
- Spread: 1.1 pips
- TOTAL COST: 1.1 x $10 = $11 per side and $22 per round turn
So, the Prime Account seems to have the cheapest trading fees. Let’s also check out how Swissquote’s Standard account’s minimum spreads stack up against other big brokers for the most popular currency pairs.
Instrument | Swissquote | IC Markets | Fusion Markets | IG Markets |
EUR/USD | 1.7 | 0.8 | 0.9 | 0.6 |
GBP/USD | 2.0 | 0.8 | 0.9 | 0.9 |
USD/JPY | 1.6 | 0.8 | 0.9 | 0.7 |
USD/CHF | 2.0 | 0.8 | 0.9 | 1.5 |
AUD/USD | 1.6 | 0.8 | 0.9 | 0.6 |
USD/CAD | 2.7 | 0.8 | 0.9 | 1.3 |
NZD/USD | 2.3 | 0.8 | 0.9 | 1.8 |
Okay, so the Swissquote Standard account has bigger spreads than places such as IC Markets, Fusion Markets, and IG. Because of this, trading with Swissquote can cost you nearly double what it would with other brokers.
Commissions
Swissquote doesn’t charge commissions on trades through Standard, Premium, and Prime accounts. Like we chatted about, only stock positions have commissions with these accounts. Swissquote mainly makes money from the spread, adding a bit to cover their costs.
For example, when trading EUR/USD, you’ll see that the buy and sell rates are a bit different than with other brokers. This difference shows the trading costs are in the spread, which is why Swissquote doesn’t have separate commissions. This extra bit on the spread is how they get paid instead of charging commissions.
Spreads & Commissions
2.5/5
- Very high spreads on Standard accounts
- Premium and Prime account spreads are also wider than the industry average
- Zero commissions
Financing Charges
Forex swap rates change because of the market and how different the interest rates are between the currencies in a pair. Swissquote’s partners figure out daily interest rates by looking at risk. So, each currency pair gets a different swap rate. You pay interest on the currency you sell and get interest on the one you buy.
You can see the swap charges for a currency position by logging into the MT4 platform and taking the following steps:
Locate your product in the ‘Market Watch’ window. Right-click and select ‘Symbols.’
Select the currency pair you wish to check and then click on ‘Specifications’.
You will see the swap rates for long and short positions.
Alternatively, you can check the current swap rates in the Trading Conditions section on the Swissquote website by clicking on your preferred currency pairs.
Deposit fees
Withdrawal fees
Swissquote doesn’t charge fees for local bank transfer withdrawals (using SEPA). But, if you’re moving money to or from banks abroad, you might have to pay extra fees to other banks in the process. One more thing: you can’t take money out using PayPal, Skrill, or Neteller.
Inactivity fees
Swissquote has a fee if you don’t use your account. If you don’t have any open trades and haven’t traded for at least 6 months, they’ll charge you. This fee is up to 10 units of your main currency (CHF, USD, EUR, or GBP), or whatever’s left in your account if that’s less than 10 units.
They’ll take this fee out each month until you start trading again, close your account, or your balance hits zero. This fee won’t make your balance go below zero, but it can empty your account if you don’t do anything with it. For other currencies, the fee is the same as CHF 10.
The inactivity fee only applies to retail clients. Introducing brokers, money managers, institutional and corporate clients are exempt from this fee.
Inactivity Fees
4/5
- Monthly inactivity charge after 6 months
- Maximum of 10 units of base currency or remaining balance
- Not applicable to introducing brokers, money managers, institutional, or corporate clients
Overall on Fees
Swissquote’s retail accounts have spreads that are a bit higher. The upside is they don’t charge any commissions on these accounts. Keep in mind, though, that if you don’t trade for six months, they’ll charge an inactivity fee, maxing out at 10 units of whatever currency your account is in.
So, while you won’t pay commissions with Swissquote, their spreads are wider compared to competitors like IC Markets, IG, and Fusion Markets. That inactivity fee might also be something to consider if you don’t trade very often or with high volume.
Trading Fees and Other Costs
3/5
- Marked-up spreads on all account types
- Zero commissions
- Charges a monthly inactivity fee after 6 months
- No extra fees on top of daily swap rates
Desktop Trading Platforms
Swissquote handles all forex and CFD trading through four main platforms: MT4, MT5, TradingView, and their own CFXD software. Let’s take a closer look at what makes each one cool.
MetaTrader 4
MT4 is a trading platform made in 2005 by MetaQuotes, a software company in Cyprus. It’s easy to use, so it’s become the go-to platform for forex and CFD trading around the globe. MT4 has lots of tools and features that can help all traders. It’s got a one-click trading panel, drawing tools, technical indicators, and Expert Advisors (EAs) for automated trading, plus more stuff. The charting suite is loaded too, with 30 built-in indicators, 24 analytical objects, and 9 timeframes. You also get different kinds of orders.
The MT4 trading platform is available as a desktop application for Windows and Mac computers. It has a browser-based version (WebTrader) and native mobile applications for Android and iOS devices. WebTrader can be accessed through all popular browsers, including Chrome, Safari, Firefox, and Edge.
MetaTrader 5
MT4 became super popular worldwide, so MetaTrader 5 (MT5) came out in 2010 as the next-level version. MT5 still has everything that makes MT4 great, but it also brings some extra features to the table such as more timeframes, technical indicators, and graphical objects. Think of it this way: MT5 is ready for more difficult stuff like stocks, futures and options. MT4 was made mostly for forex and CFD trading. MT5 also has an economic calendar built-in, a strategy tester that handles a lot at once, and more order types you can set to trigger later. Plus, it lets you use both netting and hedging, while MT4 only let you hedge.
The Depth of Market (DoM) shows you the top prices people are willing to pay or sell at, depending on how much is available. These added things give you more ways to trade. MT5 comes with a solid set of 38 technical indicators to spot trends and guess where prices might be going. If that’s not enough, you can even code your own indicators and trading bots using MQL5. MT5 charts let you change pretty much anything, and you can pick from 21 different timeframes. MT4 only offers 9. You can get MT5 for your computer, use it in your web browser, or on your phone.
CFXD
Swissquote lets traders use CFXD, their own trading platform made by their tech team. It’s loaded with cool stuff like 50+ charting tools, 80 technical indicators (like Moving Averages, MACD, and more), and live news from Bloomberg. Because it’s easy to understand, CFXD works for all traders. It’s made to fit what clients want with settings that they can change so it feels comfortable and makes trading easier.
It handles different order types, like stop and limit orders. You don’t need to download anything since CFXD is just on the web. If you need to trade when you’re out, the mobile versions come in handy. They have apps for iOS and Android . So you can trade right from your browser without downloading anything.
Additional Platforms and Tools
eTrading: This is a multi-asset trading platform developed to help traders reach their investment goals with ease. The eTrading platform comes with multiple functions, including widgets, integrated watchlists, a trend radar, financial news, and quick search, which can optimize your overall trading experience.
Swiss DOTS: Swiss DOTS (Swiss Derivatives OTC Trading System) is an exclusive specialized system that allows Swissquote clients to trade thousands of leveraged products directly with the issuer. You can easily create a Swiss DOTS trading account, whether you are a Swissquote customer or not.
Themes Trading Platform:The Themes Trading system is a feature within Swissquote’s platform ecosystem that allows clients to invest in thematic portfolios that align with global trends like green energies, for example. It is embedded as an investment tool rather than a distinct platform.
TradingView: Swissquote additionally offers seamless integration with the TradingView platform, enabling clients to trade forex and CFDs directly from its advanced charting interface. This platform is renowned for its industry-leading charting tools, extensive library of over 400 built-in indicators, and vibrant social community whose members can exchange ideas and insights. Traders also benefit from real-time analysis, customizable layouts, and the ability to connect with a global network of investors to inform their decisions.
Desktop Platforms
4.5/5
- MT4 and MT5 are available
- A proprietary trading platform is on offer
- Multiple advanced trading tools are available
Mobile Trading Platforms
Swissquote works great on phones and tablets. They have free apps for Android and iOS you can grab from the app stores. These let you trade and see where your trades are at, even when you’re out and about – just need internet!
Their CFDX mobile app is simple to pick up, and they even have 25+ training videos. Check out charts with 27 indicators for deep analysis. The app gives you prices for many markets, and you can make custom watchlists. Plus, get into your account safely with face or fingerprint ID.
Android | iOS | |
Minimum System Requirements | Android 8.1 and up | iOS 15.0 or later |
User Rating | 3.4/5 | 4.4/5 |
User Reviews | 5,632 votes | 103 ratings |
Supported Languages | English, French, German, Italian, Russian, Spanish, Arabic, and Chinese | English, French, German, Italian |
Forex Pairs | 80+ | 80+ |
Other Tradable Assets | Stocks, crypto, precious metals, soft commodities, indices, bonds | Stocks, crypto, ETFs, mutual funds |
Features | Customizable charts, low latency, educational videos, sophisticated order types | Dedicated Swissquote wallet, graphics and information for more than 100,000 financial instruments, trading alerts, charts with technical analysis indicators |
Biometric Authentication | Yes | Yes |
2-Factor Authentication | Yes | Yes |
Mobile Trading
4.5/5
- Third-party mobile apps for the MT4 trading platform
- A proprietary mobile app is available
- The apps offer the full functionality of the desktop versions of the platforms
Trading Instruments
Swissquote offers a generous selection of trading instruments across various asset classes, including forex, stocks, cryptocurrencies, bonds, commodities, and indices.
This is comparable to what its closest rivals like IC Markets and Fusion Markets offer.
Asset Class | Swissquote Rating | IC Markets | Fusion Markets | |
Forex | 80 | Excellent | 61 | 90+ |
Stocks | 300+ CFDs | Fair | 2,100 | 110 |
Commodities | 16 | Good | 28 | 17 |
Cryptocurrencies | 2 | Fair | 18 | 13 |
Bonds | 3 CFDs | Fair | 9 | 0 |
Indices | 26 | Excellent | 25 | 15 |
ETFs | 20,000 | Superb | 0 | 0 |
Let us now take a closer look at the product list.
Forex
Swissquote lets you trade in the fast-moving forex market, giving you access to around 80 forex pairs, from the main ones to the more unusual. If you’re outside Europe, you can use leverage up to 1:100, turning $100 into a $10,000 position. But if you’re in the EU, the most leverage you can use is 1:30 for main pairs and 1:20 for others. Swissquote is a market maker, so orders get done super quick. The downside? Spreads are a bit pricey. For instance, on a Standard account, spreads start at 1.7 pips for main pairs, which is higher than what some of the other big brokers charge.
Stocks
If you’re trying to make money off well-known stocks, Swissquote’s stock CFDs might be worth a look. Right now, they have over 300 stocks from big companies such as Alphabet, Apple, Tesla, and Meta. You can bet on whether stock prices will go up or down in the United States, the UK, and Europe. They seem to offer good trading terms, such as low commissions ($0.03 per US share with their Standard accounts). Swissquote also gives you real-time price updates from big exchanges and a Stock Finder tool with daily market news.
ETFs
Swissquote lets traders pick from over 20,000 ETFs, but only if you’re trading through their Luxembourg or Swiss branches. Also, ETFs are really for those who trade professionally. They’ve got a bunch of options, like 300+ IShares from BlackRock, 90 LYXOR ETFs from Société Générale, plus some from Vanguard, UBS, Amundi, ComStage, and others.
Commodities
Swissquote lets you trade metals (gold, silver, and copper), plus energies like gas and crude oil. They also offer soft commodities such as soybean meal, cocoa, sugar, and coffee. Leverage goes up to 1:50, but if you’re in Europe or the UK, it’s 1:10. Pro traders can get way higher leverage, like 1:400. They also have handy tools, like ‘Close at Profit’ and ‘Close at Loss,’ and you can set a Guaranteed Stop to dodge any slippage.
Cryptocurrencies
At Swissquote, you can trade Bitcoin and Ethereum, two of the world’s most well-known cryptocurrencies. Besides zero commissions and flexible leverage, Swissquote has good spreads so your trading costs stay low.
Options and Futures
Trading options and futures at Swissquote comes with the following benefits but is available only at the Swiss and Luxembourg entities.
- Exhaustive offer: Direct access to nearly a million derivatives
- Trading desk at your disposal for advanced strategies
- Extended trading hours: Trade anytime, 5 days a week
Mutual Funds
Swissquote lets you put money in funds, which is like pooling your money with other people to buy a mix of different things. Mutual funds? Good if you’re trying to grow your money slowly over time without having to do too much. Swissquote’s funds are run by experts. They’ve got over 20,000 funds from 200+ well-known investment groups and banks. But, keep in mind, you can usually only trade these funds through Swissquote’s branches in Switzerland and Luxembourg.
Traded Instruments
4/5
- A vast diversity of tradable asset classes
- Leveraged trading on various instruments
Trade Execution
Swissquote mainly works as a market maker. It takes the other side of its clients’ trades. It gives liquidity by quoting prices and makes money on the spread. This market-making setup means trades happen fast with almost no slippage, and there are no commissions since all costs are in the spreads.
But it’s important to know that Swissquote uses its own mix of agency and principal execution. This means sometimes client orders go to outside liquidity sources, like big banks and other liquidity providers. Other times, Swissquote acts as the counter-party itself. This setup makes sure clients have plenty of liquidity, quick response times, and good market prices. Simply put, Swissquote isn’t fully NDD, ECN, or STP. It’s a market maker with a hybrid model that uses outside liquidity to make trade execution better.
Trade Execution
3/5
- Uses a hybrid model of pricing and execution
- Zero commissions
- Marked-up spreads
- Tier 1 banks and regional non-bank liquidity providers
Deposits
This broker lets traders open accounts using these main currencies: EUR, USD, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, and CZK. This helps customers avoid further currency exchange costs.
Swissquote provides easy and safe ways to put money in your account. You can use bank transfers or credit/debit cards to deposit funds. Swissquote doesn’t charge any fees for deposits, but your bank or card company might.
How long it takes to process payments depends on how you pay. Bank transfers might take a few work days, but credit/debit card deposits usually happen right away. The smallest amount you can deposit depends on your account type. For example, the Standard account needs at least $1,000 to start, while Prime users need to put at least $50,000 in their account.
Like most regulated brokers, Swissquote doesn’t allow payments from other people. All money deposited into your trading account needs to come from a payment in your name. You can deposit money using these methods:
Method | Processing Time |
Bank Wire Transfer | A few days |
Credit/Debit Card | Instant |
Please note that the broker does not offer any deposit bonuses at the moment.
Deposits Methods
3.5/5
- A $1,000 minimum deposit for Standard accounts
- 15 base currencies
- No deposit fees are charged
- A limited range of payment methods
- No deposit bonuses are available
Withdrawal Methods
At Swissquote, you can pull out money via bank wire or with a credit/debit card. Usually, it’s best to use the same way to pay in and take out. Just so you know, cards aren’t always an option; bank transfers are Swissquote’s main way to get money out. To take funds from your Swissquote account, just log into your account and click the withdrawal tab. All requests are handled through the same payment type you used to pay in. So, if you paid with a card, you can only remove your funds using a card.
Swissquote doesn’t charge any fees to pay in or out. But, banks might charge fees for international transfers. Due to AML/CTF laws, Swissquote does not allow withdrawals to third parties. As a result, all money withdrawn from your account must go to a bank account registered in the same name as your Swissquote trading account.
The broker cannot guarantee same-day withdrawals, as processing times depend on the payment method used. In most cases, the processing times are subject to the receiving bank processes, which is outside Swissquote’s control. For instance, bank wire transfers may take between 1 and 3 days.
Swissquote offers the following withdrawal methods:
Method | Processing Time |
Bank Wire Transfer | A few days |
Credit/Debit Card | A few days |
Withdrawal Methods
4/5
- No withdrawal fees with most payment methods
- No third party withdrawals
- Timely withdrawal processing
Customer Support Contacts
Swissquote’s support team speaks many languages and has offices all over, like in London, Gland, Zurich, Bern, Dubai, Malta, and Hong Kong. They can help you out with questions about your account or anything technical. They’re around 24 hours a day, 5 days a week, and you can get in touch through chat, phone, or email.
Support Contact | Available | Response |
Live Chat | 24/5 | Less than 30 seconds |
Telephone Contact | 24/5 | Within several minutes |
Email Contact | 24/5 | Within several hours |
FAQs | 24/7 | On the website |
Live Chat: This support channel allows you to chat directly with the broker’s support team. It offers real-time answers to your trading inquiries. The live chat button is located in the lower-right corner of the website. When you click on the icon, you must input your name and email address. Next, type your message in the box to interact with the customer support team in real time.
Telephone contact: You can also contact the broker’s support team over the phone on weekdays, using any of the following phone numbers:
Email Contact: You can send specific inquiries to fx@swissquote.com From our experience, the support team responded within a few hours when we contacted them via email.
FAQ: This is a comprehensive list of Frequently Asked Questions, arranged in different categories like account application, account management, fund management, trading with Swissquote, and trading platforms.
Social Media: In addition to traditional contact channels, the broker’s support team can be reached through social media platforms like X, LinkedIn, Facebook, and Instagram. These social media channels come with the added advantage of allowing clients to easily interact with the support team through the comment sections.
Support Contact
4.5/5
- Outstanding live-chat service
- Telephone contacts are available
- An extensive FAQs section
- Email support is available
- Presence on social media platforms
Research and Educational Materials
Swissquote has some great learning stuff on their site to help traders get better. They talk about the market, trading plans, and how to use Swissquote’s platforms. You can learn through:
The Swissquote learning center has a section dedicated to trading tutorials covering various topics with a series of well-explained and visually appealing videos. The videos are available in English and cover trading tools, platforms, market analysis, risk management, and more. There are also some PDF user guides available within this section.
Swissquote offers frequent live and on-demand webinars hosted by experts. The webinars enable you to improve your trading knowledge from the comfort of your surroundings. They are available in English, French, German, Spanish, and Arabic.
Swissquote has a team of expert analysts and researchers who post live daily and weekly market reports. These exclusive market insights can be used as part of an overall technical and fundamental analysis.
The broker’s website contains a news section that is dedicated to informing traders of the latest happenings in the financial market. The publications are arranged in chronological order, with the latest news articles at the top, to keep traders in the loop.
Swissquote publishes a magazine that contains interviews and in-depth articles on key market players from around the globe, allowing readers to draw upon a range of innovative ideas for their strategies.
The broker offers various ebooks covering specific trading topics. These are available in various easily accessible formats, such as PDFs.
Research & Education
5/5
- A good selection of learning resources
- Hosts regular webinars
- Swissquote education section and press releases
Security and Money Guarantees
At Bestbrokers.com, we make sure our readers only trade with trusted brokers regulated by top financial groups. Swissquote is one of them, with a history of following the rules. Here’s what we found out about Swissquote:
- Nearly three decades of business history and growth
- Licenses from the FCA, CySEC, FINMA, and other prominent regulators
- FSCS compensation for UK clients
The Financial Conduct Authority (FCA) in the UK regulates these brokers, which means they’re seen as trustworthy and follow rules. Also, Swissquote is regulated in lots of places, it can follow rules in different countries, so customers all over the world usually trust them. Your money is kept separate from the broker’s, so it won’t be used to keep the business going. The broker’s website is safe because it uses SSL encryption, which helps lower the risk of hacking. Keep in mind that since this broker isn’t regulated by the CFTC, they don’t work with customers in the USA.
Entity | Regulator | Amount covered | Negative Balance Protection |
SwissQuote Bank Ltd | Federal Financial Market Supervisory Authority (FINMA) | N/A | |
Swissquote Ltd | Financial Conduct Authority (FCA) | £85,000 | |
Swissquote MEA Ltd | Dubai Financial Services Authority (DFSA). | N/A | |
Swissquote (Asia) | Securities & Futures Commission (SFC) | N/A | |
Swissquote Financial Services (Malta) Ltd | Malta Financial Services Authority (MFSA) | €20,000 | |
Swissquote Capital Markets Ltd | Cyprus Securities and Exchange Commission (CySEC) | €20,000 |
Security of funds
3.5/5
- Regulated in multiple jurisdictions
- Licensed by the FCA, FINMA, and CySEC
- FCA regulation translates into GBP 85,000 compensation per covered client
Conclusion
Swissquote is a solid pick if you’re a newbie or a pro who values security over the best deals. Yeah, it costs a bit more to trade, but it’s good in other areas. Here’s why some people go with them:
- Regulation in multiple jurisdictions
- Advanced trading technology
- Sophisticated trading platforms like MT4, MT5, and TradingView
- Responsive customer support team
- A good selection of learning resources
- Three decades of industry experience
Overall
4/5
- Zero commissions, with markups on spreads
- High trading costs and inactivity fees
- A good selection of trading platforms and additional tools
- Opportunity to trade multiple financial instruments across different asset classes
