Swissquote Review

Overview

Swissquote has been around since 1996. It has two entities, one that is a bank, and another that is a Forex and CFD broker. The Forex trading services broker has gained some traction over the years, and there are more than 330,000 people trading with it.

Swissquote is a Swiss broker, and it operates in several countries. With over 700 employees, they are doing their best to make sure people benefit from top-notch services.

Platforms such as MetaTrader 4 and MetaTrader 5 are also making this service even more appealing to any trader.

Just like with any other trader, though, you cannot put your full trust in it from the beginning. Before you can trust the platform with your money, you need to find out more about it and make sure that it’s safe.

Fortunately, this is the aim of this review. Keep reading to discover what Swissquote has to offer.

Who Is Swissquote for?

Swissquote can be an amazing tool for beginner traders. On one hand, it is easy to understand the platform, and anyone would be able to trade without issues. On the other hand, there are plenty of educational materials provided for anyone using the platform.

This encourages beginners to keep going but also ensures that they get better at what they do. Moreover, there is a demo account, so anyone who is new to trading can try out the service at no risk until they get used to it.

People who are willing to use more money to trade, as well as more experienced traders will also have a good time with Swissquote.

Besides, more advanced traders will have multiple products to choose from, giving them higher chances of diversifying their portfolio even more.

Things We Like

Swissquote has a lot of advantages that we appreciated. We love how there is no inactivity fee charged, but also that it is easy to open an account. It takes one day to open an account, but you don’t have to wait longer than that.

We also love how you gain access to a lot of markets and products when you join Swissquote. It is a great chance to find something you like to trade, whether you are a beginner or an advanced trader.

Swissquote also has a lot of educational materials available, which is great. People who use the platform can get useful information that will help them expand their knowledge, but also improve their skills.

There is also exclusive in-depth market research, which helps even more in this regard.

They also offer two of the most popular trading platforms in the world, respectively MT4 and MT5. It is another great chance for traders to gain access to some of the best tools and features.

There is no inactivity fee charged, and that is a great thing.

Things We Don’t Like

Some things also disappoint us when it comes to Swissquote. For example, the minimum deposit is very high, which is not a great thing to see. While this is not an obstacle for someone who is more experienced or simply has a higher income, it can be off-putting for a newcomer.

Then, we were also sad to see that U.S. clients are not accepted. The trading fees are also quite high, and some research tools are not offered for free. All in all, it is a platform for people who have money to spend on this activity.

Safety and Regulation

Before you proceed with opening an account with Swissquote, there are a few things you should know regarding its safety and regulation.

Who Is Swissquote?

Swissquote is an investment bank that was founded back in 1996. There are two trading arms available. One of them is a company available in the UK for Forex and CFDs, and the other one is a Swiss one that offers options, funds, futures, and stocks.

Since its establishment, Swissquote slowly turned into one of the most trusted and appreciated brokers. There are more than 330,000 people using the platform.

All of them created accounts in Asia, Europe, Latin America, and the Middle East. They offer the MT4 and MT5 platforms, and they also have lots of charting tools among other things.

Is Swissquote Safe or a Scam?

Safety is ensured in many ways on Swissquote. First of all, it is regulated by several authorities, which is already a good sign. Secondly, it has a banking license, and it is listed on the stock exchange.

Client funds are segregated as well, which adds even more safety for the customers.

Swissquote is regulated by multiple authorities. Swissquote Bank Ltd, which is based in Switzerland, is regulated by the Swiss Financial Market Supervisory Authority.

Meanwhile, Swissquote Ltd in Luxembourg is regulated by the Commission de Surveillance du Secteur Financier. The platform is also regulated by the Financial Conduct Authority of the UK.

Swissquote Licenses

• Authorized by the Financial Market Supervisory Authority (FINMA)
• Authorized by the Financial Conduct Authority (FCA)
• Authorized by the Dubai Financial Services Authority (UAE)
• Authorized by the Malta Financial Services Authority, The Securities and Futures Commission (Hong Kong)

Countries It Accepts Clients from

Swissquote serves clients from all over the world. Swissquote (CH) has clients from 120 countries, whereas Swissquote Bank (LUX) has clients from about 150 countries. All of them are large European countries or non-European countries.

Meanwhile, countries like Japan or the U.S. are not allowed to use the company’s services. Also, the platform is not available for users from some smaller countries.

Awards

Swissquote’s Quant Fund won the Thomson Reuters Lipper Fund Award 2016. In 2001, they also won the Best Swiss Online Broker award.

Range of Offerings and Products

With Swissquote, you have access to a plethora of products. You can trade Forex, CFDs, stocks, bonds, funds, ETFs, crypto, futures, and options.

They grant access to 6o stock exchanges in the entire world, 1,400 ETFs, 80 Forex currency pairs, 340 funds, 53,400 bonds, 6 futures, 6 options markets, 12 cryptos, 3 bond CFDs, 12 commodity CFDs, and 26 stock index CFDs.

Leverage Offered

The maximum Forex leverage with Swissquote is 100:1.

Trading Platforms

Swissquote comes with a web, mobile, and desktop platform for its users. The web platform is great as it doesn’t require any download, yet it still comes with a good search function, a 2-step login, and a clear fee report.

The downside is that it is easy to get lost among all the functions.

The mobile platform is also great, as it comes with price alerts, is user-friendly, and has a good search function. The mobile trading platforms are available for all the systems used by the broker, respectively MT4, MT5, eTrading, and Advanced Trader. Sadly, there are no advanced search filters.

Meanwhile, the desktop trading platform comes with price alerts, a clear fee report, and good customizability. It has a poor design, though, and it has no 2-step login available.

Account Types

Swissquote (CH) has three different account types, respectively a trading account, Forex account, and Robo-advisory account.

When it comes to Forex accounts, there are four types. They include standard, premium, prime and professional accounts. All of them have different minimum deposits and features.

Demo Account

There is a demo account provided for anyone wanting to try out the features first.

Deposits and Withdrawals

Deposits can be done in multiple currencies, and you can perform them with credit/debit cards or bank transfers. E-wallets are not available for deposits, though.

What Is Swissquote Minimum Deposit?

The minimum deposit for standard accounts is $1,000, so it may offer more trading opportunities for those who are already used to trading.

Withdrawals

Withdrawals on Swissquote can only be made through bank transfers.

Swissquote Promotions

Swissquote offers bonuses sometimes, such as the “Refer a Friend” bonus. If you refer a friend and they fund the account, both you and your friend can receive a bonus depending on the deposit amount.

Client Support and Education

Swissquote is absolutely amazing in terms of education. Not only is there a demo account, but there are also lots of educational videos, as well as a trading platform tutorial. Furthermore, there are eBooks, webinars and seminars as well. People can get a lot of useful information this way.

Verdict – Overall Rating

Swissquote is a very safe platform with a lot of experience, and it can be great for both beginners and advanced traders. Its deposits are quite high, and the desktop platform needs some improvements but other than that, Swissquote is an amazing broker.

Methodology

All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.

The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.

What helps us stand out is that we always test our brokers with an anonymous live account, to ensure we deliver the most accurate information and experience to our readers. Finally, our reviews and evaluation are always independent of any financial compensation we may receive from the brokers.

Risk Disclaimer

There is a very high degree of risk involved in trading securities.

With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.

All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.

There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.

Looking for more information on brokers and trading? Have a look at our trading guides:

• Best Forex Brokers for 2021
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• Best Online Stock Brokers for 2021
• Best Trading Apps for 2021

Review Sources

1. https://en.swissquote.com/

No Bonus

Swissquote is a Swiss investment bank established in 1996. It has two main trading arms: a Swiss unit for trading stocks, funds, options, and futures, and a company in the UK for CFDs and forex.

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