Swissquote review 2024: should you sign up with this broker?

Swissquote review 2024: should you sign up with this broker? title=

This Trading Platform is available in Ukraine

3.4/5

Discover the world of trading with Swissquote, a broker that stands out for its robust platform and exceptional service. Praised by users for its reliability and user-friendly experience, Swissquote offers an array of tools tailored to both novice and seasoned traders. With access to a wide range of markets including Forex, stocks, and commodities, you have the freedom to diversify your portfolio seamlessly.

Swissquote's commitment to innovation is evident through their unique features which empower traders to make informed decisions. Clients appreciate the comprehensive educational resources and real-time data analysis provided, ensuring you're equipped with knowledge to navigate the financial markets confidently. Join a community where trust and support are paramount, and take your trading journey to new heights with a broker that truly values your success.

Min. deposit
1000 CHF or equivalent
Website address
Demo account
Yes
Currency
CHFEURGBPUSD
Supported languages
AraChiEngFreGerItaRusSpa
Active
Yes
Payment Methods
Bank WireCredit/Debit cards
Pros
  • Regulated by multiple authorities
  • Wide range of instruments
  • Advanced trading platforms
  • Strong banking background
Cons
  • High minimum deposit
  • Inactivity fees
  • Limited bonus and promotions
Awards
None specified
Bonus
No bonus offers
Instruments
BondsCommoditiesCryptoETFsForexFuturesIndicesOptionsStocks
Min. trade price
Varies by asset
Regulated By
DFSAFCA (UK)FINMAMAS (Singapore)SFC
MetaTrader 4
Yes
MetaTrader 5
Yes
cTrader
No
OmniTrader
No
AlgoTrader
No
TradingView
No
Trading Central
Yes
Autochartist
No
eSignal
No
STP Account
No
ECN Account
No
DMA Account
No
MAM Account
Yes
PAMM Account
No
LAMM Account
No
Demat Account
No
Mobile Apps
Yes
Margin Trading
Yes
Volatility Index
No
Spot Trading
Yes
Perpetual Swaps
No
ELWs
No
REITs
No
AI / Machine Learning
No
Robo Advisor
Yes
P2P Trading
No
Negative Balance Protection
Yes
VPS Hosting
No
Tournaments
No
Demo Competitions
No
Managed Accounts
Yes
Market Maker
Yes
Auto Trading
Yes
Social Trading
No
Copy Trading
No
Trade Signals
Yes
Islamic Account
No
Inactivity Fee
Yes
Guaranteed Stop Loss
No
Stock Exchanges
Over 30 global stock exchanges
Commodities
Gold, Silver, Oil, and others
Forex Trading
Yes
Forex GBPUSD Spread
Varies
Forex EURUSD Spread
Varies
Forex EURGBP Spread
Varies
Forex Assets
Over 70 currency pairs
Crypto Spread
Varies
Crypto Lending
No
Crypto Staking
No
Crypto Mining
No
Crypto Auto Market Maker
No
Crypto Coins
Bitcoin, Ethereum, Litecoin, Ripple, and others
Binary Options
No
Payout Percent
Not applicable
Expiry Times
Not applicable
Ladder Options
No
Boundary Options
No
Show all >>

* The amount that will be credited to the account in the case of a successful deal

* General Risk Warning: Your capital might be at risk

Trustpilot Real Time Reviews

Star

The Trustpilot rating is 3.4,
according to 3025 reviews

4.5 Stars
EatSmart.Community
EatSmart.Community
stars
ch
i am very happy with the plattform and customer support especially the treatment from Kerim Ük - fast reliable and available at anytime

View all

majid
majid
stars
sa
This company has good support for clients in admin.side also trading info.by Pamela Bassil and also good help in technical problems..

View all

Mohab
Mohab
stars
sa
Pamela Bassil She help me from A to Z and solved all my issues Thanks a lot for your kind support and assistance If all places have Pamela , the world will be easy 🙏🏻

View all

Issoumaila TOURE
Issoumaila TOURE
stars
ae
I am trading for more than 18 years and I have seen broker, Market makers and others opening and closing but SWISSQUOTE is really a big innovation. From cash management to online platform everything is perfect. I even my debit card. And very flexible. The swap and others fees are fair. Pamela Bassil My RM is talented and available for any assistance. She gave me definitely the wish to boost my investment with SWISSQUOTE.

View all

Andy
Andy
stars
at
App and online portal offer many functions for stocks, derivates and forex. Many cryptos can be purchased and staked. Only receiving and sending seems quite difficult or partly impossible yet. Everything else works well, support is friendly and professional, fees are not cheap but considerably lower than at standard bank, and I do feel very comfortable with Swiss safety and legal protection.

View all

BertDut
BertDut
stars
ch
There are more than 15 years that I have an account at Swissquote and I m very satisfied

View all

Content

What is Swissquote?

If the above section wasn’t enough, let me tell you more about this broker. I found this broker very interesting and trouble-free.

You might feel the same way after knowing what it is.  So, let’s check it out.

It has been operating as an investment firm since 1996. It is part of the Swissquote Group Holding, a banking group currently functioning in various countries.

It maintains offices in Bern and Zurich and – outside of Switzerland – in London, Luxembourg, Malta, Dubai, Singapore, and Hong Kong. At the time of writing, Swissquote employs more than 900 staff. Pretty impressive, right?

Swissquote homepage

Swissquote homepage

The brokerage firm is regulated by FINMA, the Swiss Financial Market Supervisory Authority. The broker is also regulated by:

  • Financial Conduct Authority (FCA)
  • Dubai Financial Services Authority (DFSA)
  • Securities and Futures Commission (SFC)
  • Malta Financial Services Authority (MFSA)
  • Monetary Authority of Singapore (MAS)

It offers a range of trading instruments for currencies and other commodities (as we’ll see in the next section). Additionally, there are great trading platforms and a variety of research tools. Well, that’s pretty impressive. So why not try it for yourself?

How does Swissquote work?

You might be wondering how it works. Well, I am here to answer this simple question. Since I have dealt with it, it will not be a problem. Let’s have a look at it.

How does Swissquote work? 

You should know that due to regulatory limitations, trading assets vary. Several trading instruments may be available depending on the brokerage holding your account and your country of residence. Furthermore, depending on the trading platform you select, Swissquote may provide different trading instruments.

Overall, Swissquote provides more than 400 financial products. There are more than 80 major, minor, and exotic currency pairs. With Swissquote, you may trade a vast selection of instruments, over 100 in fact, depending on the trading platform you select.

Cryptos

  • Bitcoin
  • Ethereum
  • Litecoin
  • Ripple
  • ApeCoin
  • Audius
  • Chiliz
  • Enjin
  • Hedera Hashgraph
  • Decrentraland and many more

Forex

  • AUD/JPY
  • AUD/USD
  • EUR/CHF
  • EUR/USD
  • EUR/GBP
  • NZD/JPY
  • NZD/USD and many more.

Metals

  • Gold
  • Silver
  • Platinum
  • Palladium

Indices

  • US Tech 100
  • Euro Stoxx 50
  • S&P 500
  • Australia 200
  • Hong Kong HS50
  • Nikkei 225
  • IBEX 35 and many more

Deposits and withdrawals take relatively less time than other brokers. Swissquote is multilingual and is available in 8 different languages. I’ll talk about deposits and withdrawals in more detail later.

How does the Swissquote platform work?

Do you know Swissquote offers many trading platforms? When I started, that’s what caught my eye the most. I can select any platform I want. Let’s see how it works. You can access the forex market using these trading platforms.

Advanced trader

Swissquote Ltd. created the proprietary trading platform Advanced Trader. It provides full mobility to switch between trading versions on desktop, web, or mobile.

Swissquote Advanced Trader platform

Swissquote Advanced Trader platform

Metatrader 4 and 5

MT4 and MT5 are the most well-liked online platforms for retail traders. Swissquote and the MT4/5 software are fully connected to offer quick trade execution speeds and substantial liquidity. These platforms also allow you to automate your trading through Expert Advisor (EA) add-ons and participate in social trading.

Swissquote MT4 platform

Swissquote MT4 platform

eTrading

Swissquote’s eTrading web platform has an ordinary and practical design. Although the interface is simple if outdated, navigation between different areas could be smoother. But you can alter the platform to suit your needs.

Swissquote eTrading platform

Swissquote eTrading platform

Mobile platform

Swissquote offers mobile apps that let you access the Advanced Trader platform. I tried the mobile app, and it did wonders for me. I liked the overall UI and navigating around the app.

What trading indicators are available?

You should be aware as a trader that indicators are helpful. Various indicators are used by Swissquote, some of which are listed below. If you know how to use them, they would be helpful.

The trading indicators depend on the platform you use. On Swissquote, some of the most important indicators include:

  1. Commodity channel index (CCI)
  2. Moving average (MA)
  3. Ultimate oscillator (UO)
  4. Relative strength index (RSI)
  5. Moving average convergence divergence (MACD)
  6. Williams’s percent range (WPR) and many more.

Admiral Market and OANDA support the Metatrader platform.

Further reading

What are Swissquote’s trading accounts?

You might need to refresh your memory because I’ve told you about its different account types. Each account is slightly different from the others.

The choice is all yours; choose what suits you. So, without wasting any more time, let’s dig in.

Swissquote can offer you four different accounts; you can choose them according to your goals. But, importantly, do they suit your pocket? I use the prime one. The deposit is high but it’s good if you want a broker with excellent trading conditions.

What are Swissquote’s trading accounts?

Swissquote trading accounts

Standard account

The Standard account has a minimum deposit of $1,000. The leverage is up to 1:100. There are no forex commissions. However, the spread starts from 1.7 pips.

Premium account

The premium account is the most famous and requires a minimum deposit of $10,000. The leverage is the same as the standard one with zero forex commissions. The spreads are 1.4 pips.

Prime account

As the name states, this account is for major traders and institutional managers. The minimum deposit is $50,000. Leverage remains the same as with the previous accounts, with no commissions for forex. At the same time, the starting spread is 1.1 pips.

Professional account

The Pro account is like a playground for a professional. Choose what sport you want to play, and it’s all set. You can have an account with individually specified deposits, minimum trade sizes, leverage, and customized spreads. Amazing, isn’t it?Swissquote trading accounts

Swissquote trading accounts

When I first learned about Swissquote, I was excited to open an account. I am sure you will be, too. Let’s see how you can open your desired account.

You can open an account with Swissquote by visiting its official website and selecting Login/Register. To open an account with Swissquote, you must complete the necessary identity verification, including video identification or submitting official national identification documents, like a bank statement, driver’s license, or utility bill.

Does Swissquote offer a demo account?

The various trading accounts that Swissquote operates only recently came to light. So, does this broker offer a demo account? Yes, novice traders can practice on a free demo trading account.

The demo account is perfect if you wish to learn how to trade without taking risks or losing money. Swissquote offers risk-free conditions for practicing FX trading.

Swissquote account setup

Swissquote account setup

You just need to click on ‘try a demo. Leave the rest to the website; it will tell you what to do next. And then you are done. Good luck!

Further reading

How safe is Swissquote?

When you are investing, you have the right to ask if a broker is legit or not. I encourage this kind of question since the right answer boosts your confidence.

I was once in your shoes, signing-up with an unregulated broker like Ayondo, and here I am using Swissquote. Without wasting time, let me explain how it is entirely safe.

How safe is Swissquote?

As you know, Swissquote is regulated by FINMA and other popular and reliable regulatory bodies worldwide, FCA, DFSA, and SFC.And as Swissquote has existed since 1996 and is a bank, the likelihood of it going bankrupt is low.

Even so, it’s crucial to understand what would happen if your broker filed for bankruptcy. Due to Swissquote’s banking license, Esisuisse will secure your funds up to 100,000 CHF.So, safety is where Swissquote shines.

That comforts me, and it should comfort you. It’s encouraging that I haven’t experienced any security concerns at Swissquote. Overall, it is safe to invest with Swissquote.

Further reading

Where is Swissquote located?

You might be wondering where the brokerage firm is located. I was curious too.

So, where is it located? Let me take out the map!

Swissquote Ltd is a Swissquote Group Holding Ltd division in Gland, Switzerland.  However, Swissquote has more offices around the world, namely:

  • Bern
  • Dubai
  • Zurich
  • Malta
  • Hong Kong
  • Singapore
  • Luxembourg

Swissquote location

Swissquote location

Who owns Swissquote?

Now that we know about the location, why don’t I answer this question for you? Let’s end this curiosity of yours and find out.

The CEO and founder of Swissquote is Marc Bürki. He, with his executive management team, runs the whole business.

Further reading

How to deposit funds in the Swissquote account

This broker offers multiple deposit methods for its users. Its multiple methods have always been convenient for me.

They are another reason why you can approach this broker with confidence. Let’s move fast through these.

How to deposit funds in the Swissquote account

The credit card option has been a big help for me. Because everybody has one, right? Anyhow, the deposit methods are:

  • Bank transfer
  • Credit cards
  • Debit cards
  • Skrill wallet.

There is no deposit fee. All you need to do is enter the necessary data and verify the information, and you’re ready to go! I’d say it couldn’t be any simpler.

How to withdraw funds from the Swissquote account

The withdrawal procedures are easy and practical. But can you use the same methods as those for a deposit or not? Let’s have a look at them and see how to withdraw funds. It’s pretty easy to learn. So, let’s go!

The platform only enables wire transfer withdrawals. Depending on your bank, the processing may take up to three days. They may ask you to use the customer e-portal. Swissquote does not charge currency conversion fees for withdrawals.

Swissquote deposits and withdrawals

Swissquote deposits and withdrawals

Further reading

How to contact Swissquote

Swissquote offers a large customer service department. So, you don’t have to worry about contacting them.

I honestly enjoy their services so much. For that, let’s see what they are.

The customer support service works from Monday to Friday. It offers you multilingual live chat support.  However, the client hotline is available around the clock from 11p.m Friday to 11p.m Sunday CET (Central European Time).

The international support hub is available from Monday to Friday, 8 a.m to 10 p.m CET. If you aren’t comfortable with that, try their email, [email protected].

If that’s not your thing, try contacting them through social media.  You can reach them on social media through Facebook, Instagram, LinkedIn, YouTube, and Twitter.

Swissquote customer support

Swissquote customer support

Further reading

Does Swissquote charge tax on profits?

Never have I ever seen any broker charging taxes on profits. But does this broker do this?

Well, to answer that question… Why not continue reading while I tell you? Swissquote does not charge any taxes on profits. But as a responsible citizen, you should pay your taxes.

Further reading

How do I make money with Swissquote?

Swissquote has been around for some time, and I wanted to try the broker. I read several positive reviews about its multiple account types and wanted to give it a go. I tried the prime account, and so far, so good.

The platforms are perfect and customer service is reliable too.  The only thing I’m concerned about is the high spreads. The spreads are higher than those of other brokers.  Besides that, I didn’t have any issues with this broker and have been operating the account since 2015. Let’s see what others are saying about Swissquote.

saying about Swissquote

about Swissquote

about Swissquote

Further reading

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