Swissquote Broker review
- Well regulated
- Excellent for more experienced traders
- Zero commission accounts
- Very low spreads
Losses can exceed deposit
No of Users
490,000+
Min. Deposit
1000
Regulation
Cysec,FCA
Max Leverage
30:1
EUR/USD
GBP/USD
USD/JPY
USD/CAD
AUD/USD
0.9
1.6
1.1
2
1.1
Spreads
-
EUR/USD : 0.9
-
GBP/USD : 1.6
-
USD/JPY: 1.1
-
USD/CAD : 2
-
AUD/USD : 1.1
Risk Warning: Between 70% to 80% of retail investor accounts lose money when trading CFDs with this provider.
Introduction to Swissquote Markets
Swissquote was established in 1996 as a provider of online trading services. The company is headquartered in Gland, Switzerland, and has registered offices in Switzerland, the United Kingdom, Hong Kong, Dubai, Malta, Singapore, and Luxembourg. Swissquote is licensed or authorized by a number of financial regulatory bodies, including the Swiss Financial Market Supervisory Authority (FINMA), the UK Financial Conduct Authority (FCA), and the Dubai Financial Services Authority (DFSA). The company offers a wide range of different trading instruments on its platform, including forex, CFDs, stocks, options, and futures. Swissquote has over 300,000 active users and is one of the leading online trading providers in Europe.
Risk Warning: Between 70% to 80% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk as your capital is at risk.
Spreads & Fees
A ‘Spread’ or otherwise known ‘Bid/Ask Spread’ is the measured difference between the buy and sell price quoted for any trading instrument: whether it be a Forex currency pair or metals. It can be interpreted as the cost of trading charged by the broker to traders.
Swissquote, along with the majority of brokers charge a spread to their clients and that is the reason why the majority of traders choose a broker with low spreads. Spread is reported in PIPs or known as basis points. Spreads can be calculated by spread value in pips × traded lot size.
The graphical illustration shows the comparison of how Swissquote spreads stacks against the combined average spreads of all other established brokers featured on ekzaga.
Swissquote spreads are very competitive compared to other brokers. This makes Swissquote an ideal choice for both new and experienced traders who are looking for a reliable and cost-effective broker.
When it comes to forex trading, one of the key factors that can affect your profitability is the spread. The spread is the difference between the bid and ask prices of a currency pair, and it is effectively the cost of trading. The wider the spread, the more you will need to pay in order to place a trade. That’s why it’s important to choose a forex broker with low spreads.
Swissquote is one of the leading forex brokers in the industry, and they offer both fixed and variable spreads. Their fixed spreads start at just 0.8 pips, while their variable spreads start at 0.2 pips. In comparison, the forex industry average spreads are around 1-2 pips for major currency pairs. So Swissquote’s spreads are very competitive.
One question that you might have is whether zero spreads forex brokers are worth considering. While some brokers do offer zero spreads on certain currency pairs, it’s important to note that they usually make up for this by charging higher commissions. So it’s not necessarily a good idea to choose a broker solely based on their spreads. However, if all things are equal, then choosing a broker with low spreads can help you save money on your trades.
Risk Warning: Between 70% to 80% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk as your capital is at risk.
Spread vs Trader
- Scalping
- Intraday Trading- <10 Trades
- Intraday Trading- 10+ Trades
- Swing Trading
- Long Term Trading
 Swissquote |
 XTB |
 Plus-500 |
|
|---|---|---|---|
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Overall Trust Score
|
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A+
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A-
|
|
Years Established
|
26+
|
20+
|
14+
|
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Regulatory Authority
|
Cysec,FCA
|
FCA
|
Cysec,FCA
|
|
Why Choose?
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Superior Liquidity And Execution
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Most Exponential Grown CFD Broker
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Segregated Accounts
|
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Established In 2000, Listed On The (SIX) Swiss Exchange
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Over 525,000 Customers Trust XTB
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Powerful And User-Friendly Trading App
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Trusted By Over 420,00+ Clients
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5-Star Rating On Trust Pilot
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Superior Customer Service
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Trading Platforms
Swissquote is a forex broker that offers the popular and traditional platforms of metatrader4 and MetaTrader 5 as well as its own Advanced trader platform. This offers a variety of features that make it easy to trade on the go. The web trading platform is also easy to use, and it offers a variety of charting tools that can be used to identify market trends. They also offer a variety of drawing tools that can be used to map out trade strategies. Overall, Swissquote is a great choice for those who are looking for an easy-to-use trading platform.
Platforms Offered
- WebTrader
- MetaTrader 4
- MetaTrader 5
- Android App & Tablets
- cTrader
- Apple App & Tablets
Accounts Types
| Premium | Prime | Elite | |
|---|---|---|---|
|
Min. Deposit |
$1000 |
$5000 |
$10000 |
|
Trading Instruments |
✓FX ✓Metals ✓Stocks ✓Indices |
✓FX ✓Metals ✓Indices |
✓FX ✓Metals ✓Indices |
|
Commission |
Zero
|
Zero
|
Zero
|
|
Platform |
MT4/MT5 |
MT4/MT5 |
MT4/MT5 |
|
Base Currency |
GBP, EUR, USD, CHF, PLN,
HUF, CZK, AUD, JPY |
GBP, EUR, USD, CHF, PLN,
HUF, CZK, AUD, JPY |
GBP, EUR, USD, CHF, PLN,
HUF, CZK, AUD, JPY |
Swissquote offers several different account types to meet the needs of its clients. The Premium account is designed for smaller traders who want to trade in smaller increments with less risk. The Prime trading account is a more traditional account type that offers direct access to the interbank market and higher leverage. The Elite account is for more seasoned and experienced traders Swissquote also offers an Islamic account, which is compliant with Sharia law. This account type does not charge swap fees or interest on overnight positions.
Account Types Offered
Deposit & Withdrawal
Deposit Methods
| Base Currency | Fees/Commission | Processing Time | |
|---|---|---|---|
|
Credit Cards |
|
|
|
|
Visa |
|
Zero |
Instant (max 2 hours) |
|
Mastercard |
|
zero
|
Instant (max 2 hours) |
|
Bankwire |
- |
- |
1 - 3 days |
Withdrawal Methods
| Base Currency | Fees/Commission | Processing Time | |
|---|---|---|---|
|
Bankwire |
- |
- |
1 - 3 days |
Though most brokerages require a minimum deposit to open an account, Swissquote only requires that clients deposit the amount of money they need to cover the margin requirements for their trades. There are no account fees charged by Swissquote, though clients may be charged fees by their banks for certain types of deposits (e.g. international wire transfers). Deposits are typically processed quickly, and funds are available for trading within one business day. Withdrawals can only be made via bank transfer and take 1-3 business days to process. There are no fees for withdrawals. Overall, Swissquote offers a very efficient and straightforward process for funding and withdrawing from an account.
Deposit Methods
- Visa Debit
- MasterCard
- Skrill
- Bank Transfer
- Visa Credit
- Neteller
- WebMoney
- Paypal
Unique Features
Swissquote is a leading online bank in Switzerland offering a variety of financial services including banking, trading, and asset management. Swissquote clients have access to over 30,000 financial instruments via the bank’s online platform. One of the unique features of Swissquote is the bank’s commitment to education. Swissquote offers an education center on its website with materials suitable for both novice and experienced investors. The education centre includes webinars, videos, articles, and e-books on topics such as market analysis, risk management, and investment strategies. The company offers a unique combination of features that makes it an attractive choice for investors looking for a reliable and user-friendly platform. For example, the company regularly offers free webinars on trading strategies and risk management. These features make Swissquote an ideal choice for investors looking for a comprehensive and user-friendly online trading experience.
Swissquote also offers some extra tools provided for free to their clients, with Autochartist being one of them. Autochartist is a market scanner that automatically recognizes trade setups. These setups are based on three main technical analysis options, regular chart patterns, Fibonacci patterns, and Key Levels. There is a video tutorial on their website on how to use this particular tool.
Another plugin tool they offer free to their clients is Trading Central. This plugin is loaded to the MT4/5 platform. It gives you Trading Central analyst’s direct commentary and key levels to watch out for.
Customer Support
Swissquote customer service is available from Monday to Friday 8:00 – 22:00 CET. This is available in multiple languages: English, French, German, Italian, Arabic, Chinese, Spanish and more. The customer support team is highly responsive and aims to resolve all queries as quickly as possible. Swissquote offers a range of communication methods, including live chat, email, and phone. Swissquote employs a dedicated team of translators to ensure that all customer queries are handled promptly and efficiently.
The website is available in multiple languages, including English, French, German, Italian, Spanish, Russian, Chinese, and Japanese, making it accessible to a global audience. In addition, Swissquote has an excellent reputation for dealing with customer complaints. The team is experienced and efficient, and takes all feedback seriously. As a result, Swissquote is considered to be one of the best CFD brokers in the industry.
Conclusion
Swissquote we feel is geared toward experienced traders and isn’t best suited to beginner traders. This is proven by the minimum deposit requirements of their premium account which is the equivalent of $1000. Should you be an experienced trader then this ticks all the boxes. Swissquote is extremely well regulated, their execution of placing trades is second to no one. However, despite that, we just feel the lack of withdrawing facilities is a real sticking point, especially in this day of age, where traders want fast withdrawals. Making profits in forex trading is very difficult proven by statistics. Also the lack of different avenues to fund an account is a disadvantage.
The facilities provided with an Elite account are excellent at the very least despite requiring a minimum deposit of $10000. The spreads offered here start from 0.0 pips, negative balance protection, and deposit protection up to £85,000 in the case of insolvency. In a nutshell for beginners we advise looking at other brokers but very experienced traders Swissquote is highly recommended.
