Swissquote Review

  • Minimum Deposit: $1000
  • Products: Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Themes trading, Robo-advisory

    74-89% of retail CFD accounts lose money

    Swissquote Group was founded in Switzerland in 1996, and it has since established itself as one of the most highly trusted and well-known brokers in the world. The company has earned a coveted listing on the Swiss stock exchange (SIX:SQN) and over 330,000 client accounts across Europe, Asia, the Middle East, and Latin America. As a prestigious legacy broker authorized by multiple tier-1 regulators including Switzerland’s own Financial Market Supervisory Authority (FINMA) and the UK’s Financial Conduct Authority (FCA), Swissquote traders are among the most protected. They’re also some of the most successful and can take advantage of advanced charting tools, a wide range of base currencies on forex, and CFDs on stock indices, commodities and bonds, and more inside the MT4 or MT5.

    With a higher-than-average minimum deposit on its lowest account, Swissquote is also a broker for those who are willing to gain greater exposure to financial markets. However, the impressive breadth of Swissquote’s platform ensures that traders are educated well and given the best tools for the job. It also means it’s important for traders to distinguish between the services, instruments, and trading conditions offered between Swissquote’s London-based, EU-branded platform and its Switzerland-based banking ecosystem. Traders in the UK and EU who want to trade forex and CFDs most cost-effectively will prefer the former. The broker’s other Swiss entity offers forex and CFDs as well, alongside a wider range of underlying instruments, higher leverage, funds held in Swiss banks, and a dealing-desk execution model.

    Pros

    • Many platform types including Autochartist enables members to avail of more market opportunities
    • Swiss accounts get the benefit of funds held in Swiss Tier 1 bank accounts with an IBAN for seamless international trading
    • Zero-commission and from 0.0 spreads accounts options are cost-effective for trading
    • Various plugins help imbue traders with new functionality for order types, charting, technical analysis and indicators
    • Great educational resources are a relief for newbies
    Cons

    • Spreads are a bit higher on average in Swiss accounts than in EU accounts
    • Large yet somewhat confusing array of services might throw beginners a curve ball
    • High minimum deposit amounts even on the lowest account type

    Swissquote’s range of services can be suitably recommended for nearly any trader, regardless of experience level. Traders are able to support complex trading strategies in riskier trading conditions if they like, but also stay in the shallow end with Expert Advisors, low leverage, and basic trading tutorial videos in regular markets such as forex or shares. The one barrier to entry is Swissquote’s higher-than-average minimum deposit, which costs €1,000 for the Premium account (EU) or $1,000 for the Standard account (Bank). Forex traders in the EU will also prefer Swissquote for its low spreads and zero commission accounts, even if they’re unable to access the wider variety of markets and instruments on the Swiss platform. Those who would like their deposits and funds to be held in a Swiss bank account and have access to a wider range of financial services and instruments are ideal candidates for the broker’s Swiss accounts.

    Regulated By

    • Dubai Financial Services Authority (United Arab Emirates)
    • Financial Market Supervisory Authority (Switzerland)
    • Malta Financial Services Authority (Malta)
    • The Securities and Futures Commission (Hong Kong)
    • Financial Conduct Authority (UK) – For EU Traders

    Top Swissquote Features

    Competitive Spreads and Flexible Orders: Swissquote offers competitive spreads on all account types, and for EU forex traders with the Elite account (or Professional traders) there are options to pay from 0.0 pips. There are zero commissions on the two lowest EU accounts, and on all Swiss forex accounts. In general, the spreads are lower on EU accounts. Order sizes for all instruments are very flexible as well.

    Deep Tier 1 Liquidity: Swiss accounts benefit from the deep liquidity of a Tier 1 network of banks, while the EU and UK entity uses this entity (Swissquote Bank) as a liquidity provider. It’s also supported by a larger network of regional non-bank liquidity providers. This ensures quicker and more accurate execution pricing and helps with strategy analysis and benchmarking.

    Expert Advisors and Autochartist: Through the MT4 platform traders can copy trade using the Expert Advisor service, which lists traders who log their performance and trading habits for others to copy with one click, even high-frequency traders. Additionally, they can formulate their own strategies with greater depth, via the Autochartist tool.

    Swiss Account with IBAN: Swiss forex and CFD trading accounts, and trading accounts for investing in underlying stocks and other assets keep funds in an ultra-secured, insured Swiss bank account with an International Banking Number. The Switzerland banking system is one of the world’s most sheltered and connected, which is a relief for traders with security in mind.

    Deposit Protection: Thanks to regulation by both the FCA and FINMA, eligible traders with either a UK or a Swiss Swissquote account have their funds covered. The UK’s Financial Conduct Authority requires accounts under its authority to be covered by the Financial Services Compensation Scheme up to £50,000 while the Swiss accounts are bound by the Agreement by Swiss Banks and Securities Dealers on Deposit Insurance for up to CHF100,000.

    Range of Platforms and Plugins: Mostly for the Swiss traders, extra platforms available via plugin including Themes Trading (for trends and sectors trading), the proprietary eTrading Platform, and access to third-party investing services via the FIX API are an enormous advantage. For both jurisdictions, however, there are the Advanced Trader platform, both the MT4 and MT5, MetaTrader Master Edition, and Autochartist.

    Swissquote Overview

    • Type of Broker—- Agency & Principle
    • Regulations—- Financial Conduct Authority (FCA), Financial Market Supervisory Authority (FINMA), Malta Financial Services Authority, The Securities and Futures Commission (Hong Kong), Dubai Financial Services Authority (UAE)
    • Assets Offered—- Currencies, CFDs, Shares/stocks (Only for Swiss and UAE residents), Commodities, Precious Metals, Bonds
    • Platforms Available—- Advanced Trader, MT4, MT5
    • Mobile Compatibility—- iOS , Android
    • Payment Types Accepted—- Credit/debit card, Bank wire transfer, Union Pay

    Trading Platforms

    • Advanced Trader Web By Swissquote Bank Ltd
    • Advanced Trader Mobile By Swissquote Bank Ltd
    • Advanced Trader By Swissquote Bank Ltd
    • MetaTrader4 By MetaQuotes Software Corp.
    • MetaTrader 4 Android By MetaQuotes Software Corp.
    • MetaTrader 4 iOS By MetaQuotes Software Corp.
    • Metatrader 5 By MetaQuotes Software Corp.
    • MetaTrader 5 Mobile By MetaQuotes Software Corp.

    Swissquote Reliability & Security

    Swissquote can arguably be considered one of the most reliable brokers in the industry, and this is a product of its decades in the marketplace and wider variety of financial entities and services than most standalone brokers. High liquidity and the most professional, transparent trading conditions are a must for Swissquote due to clientele who expect more from the venerable name in Swiss banking. With dual regulation by two of the most scrupulous authorities in the world (and others), plus an investor protection scheme for both sides of its trading audience (EU and Rest of World), Swissquote is highly trustworthy.

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