Verdict

/ 5

Swissquote review

By Abdullah Zeshan

Updated on Dec 21, 2024

8 mins read

22 customer reviews

Overview

See full overview for Swissquote

Swissquote is a Switzerland-based online broker founded in 1996. The broker offers various trading services, including forex, stocks, indices, and commodities, with transparent pricing and competitive fees. Swissquote’s advanced trading platform provides users with an array of powerful tools and features for analyzing market data and executing trades.

Swissquote has received positive reviews for its user-friendly platform and excellent customer service, available through multiple phones, email, and live chat channels. However, some traders have raised concerns about the broker’s fees for trading in other markets, such as stocks and indices.

Supported Countries

Swissquote is a global broker that offers its services to clients in various countries worldwide, except for the United States, Iran, North Korea, Syria, Cuba, Sudan, and Myanmar (Burma). The broker supports multiple languages, including English, French, German, Italian, Spanish, Arabic, Chinese, and Russian, making it accessible worldwide to a wide range of traders.

Swissquote’s platform is available to traders in Europe, Asia, Africa, and the Middle East, among other regions. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Sector Conduct Authority (FSCA) in South Africa, ensuring its compliance with international standards and regulations.

Swissquote provides access to its services to traders in many parts of the world, with multilingual support, making it a broker that can cater to a diverse range of clients.

Customer Service Rating

Swissquote has garnered mixed customer reviews, with ratings on different websites varying from average to good. According to Trustpilot, a popular review website, Swissquote has an overall rating of 3.6 out of 5 based on 1280 Swissquote reviews. While some customers have praised the platform for its advanced trading tools and user-friendly interface, others have complained about the fees and customer service.

On Compare Broker.Co, another review website, Swissquote, has a rating of 3.0 out of 5. While the sample size is smaller, it’s worth noting that the website has a strict verification process to prevent fake reviews. Some customers have praised Swissquote pricing and execution, while others have criticized Swissquote fees and the lack of limited educational resources.

It’s important to note that while reviews can help assess a broker’s reputation, they should be taken with a grain of salt. Customers’ experiences can vary widely based on factors such as account type, trading style, and individual preferences.

Swissquote Trading Platforms

Advanced Trader: Swissquote’s proprietary platform is designed for professional traders who require advanced charting tools and customization options. The platform offers various technical analysis tools, including indicators, drawing tools, and customizable chart templates. Advanced Trader Swissquote also features one-click trading and a built-in news feed.

MetaTrader 4: MetaTrader 4 is a popular third-party platform among traders worldwide. It offers advanced charting capabilities, multiple order types, and automated trading options through expert advisors (EAs). Traders can also access a large community of developers who create and share custom indicators and EAs.

WebTrader: Swissquote’s web-based platform is accessible from any browser without downloading or installing software. It offers a user-friendly interface with real-time quotes, advanced charting tools, and various order types. WebTrader is suitable for traders who prefer a simple and intuitive trading experience.

Trading Denominations

Swissquote offers trading denominations in multiple currencies, including USD, EUR, GBP, JPY, and CHF, allowing clients to trade in their preferred currency.

Company Structure

Swissquote Forex is a reputable online broker that has been in existence for over 20 years. Founded in 1999, Swissquote has grown to become a leading provider of online trading services with its headquarters in Gland, Switzerland.

The Swiss Financial Market Supervisory Authority (FINMA) regulates the company. It has additional regulations in other countries, such as the Cyprus Securities and Exchange Commission (CySEC) and the Financial Sector Conduct Authority (FSCA) in South Africa. Swissquote has a diversified ownership structure, with approximately 28% of shares held by the public and the rest owned by its founding members, board members, and institutional investors.

Swissquote also has a talented team of professionals who work together to provide the best trading experience for its clients. The company has over 700 employees globally, including IT developers, financial analysts, customer support agents, and other professionals.

Swissquote Licenses and Regulatory Compliance

Swissquote is regulated by top-tier authorities such as the Swiss Financial Market Supervisory Authority (FINMA) in Switzerland with license number CH-660-1823004-9 and the FCA in the UK with license number 562170. These regulatory bodies enforce strict guidelines to ensure the safety and security of traders’ funds.

Swissquote is also a member of the Swiss Investor Protection Scheme and the UK Financial Services Compensation Scheme. This provides additional protection to traders in case the broker goes bankrupt or is unable to meet its financial obligations.

Lastly, Swissquote has strict anti-money laundering (AML) and know-your-customer (KYC) policies to prevent fraudulent activities on its platform. This ensures that only legitimate traders can open accounts and trade on the platform.

Swissquote Customer Protection

Swissquote provides customer protection through various measures, including segregating client funds, investor compensation schemes, and negative balance protection.

The company keeps client funds in separate bank accounts from its funds, ensuring that the funds are not used for any other purpose than the client’s trading activities.

In the event of Swissquote’s insolvency, client funds are protected up to a maximum of CHF 100,000 under the Swiss Deposit Insurance Scheme.

Trading Information

Swissquote provides a comprehensive range of trading information and analysis tools for traders. The broker offers real-time market data, including Swissquote information, charts, and news updates, to help traders make informed decisions.

Swissquote Leverage

Swissquote offers competitive leverage to its clients across different trading instruments. The leverage levels differ depending on the trading asset and the type of account. For forex trading, Swissquote provides a maximum leverage of up to 1:30 for retail clients and up to 1:100 for professional clients.

For stocks and ETFs, the maximum leverage is up to 1:5. The leverage offered for CFDs varies according to the instrument, ranging from 1:2 to 1:50. It’s important to note that leverage increases the potential profits of a trade but also increases the potential losses. Therefore, traders should use leverage responsibly and understand the risks involved.

Deposits and Withdrawals

Deposits

Swissquote offers a variety of deposit methods for traders to fund their accounts. The table below shows the available deposit methods, associated Swissquote fees, and processing time:

Deposit Method	Fee	Processing Time
Bank Transfer	None	2-5 business days
Credit/Debit Card	1.75% (Visa, Mastercard)	Instant
Skrill	1.5%	Instant
Neteller	2.5%	Instant
Paypal	1.5%	Instant

As seen in the table, bank transfer deposits are free but take longer to process, while the other deposit methods incur fees but are processed instantly. It’s important to note that fees may vary depending on the trader’s country of residence.

Withdrawal

When it comes to withdrawing funds, Swissquote provides several options. The table below shows the available withdrawal methods, associated fees, and processing time:

Withdrawal Method	Fee	Processing Time
Bank Transfer	None	2-5 business days
Credit/Debit Card	1.75% (Visa, Mastercard)	1-3 business days
Skrill	1.5%	Within 24 hours
Neteller	2.5%	Within 24 hours
Paypal	1.5%	Within 24 hours

As seen in the table, the withdrawal fees for each method are the same as the deposit fees. However, the processing time for withdrawals may vary depending on the method used.

Bank transfers take the longest to process, while e-wallets such as Skrill, Neteller, and Paypal provide quicker processing times. It’s also worth noting that there may be additional fees charged by intermediary banks for bank transfers.

Trading Education and Training

Swissquote offers a variety of educational resources to help traders improve their skills and knowledge. These include webinars, online courses, video tutorials, and trading guides. Swissquote broker also offers a demo account to practice trading without risking real money.

The educational materials cover a wide range of topics, including technical analysis, fundamental analysis, trading strategies, and risk management. Swissquote provides ample resources for both beginner and advanced traders to enhance their trading abilities.

Conclusion

Swissquote is a reputable online broker that provides a wide range of trading services to clients worldwide. With over 20 years of experience in the industry, Swissquote offers competitive pricing, a user-friendly trading platform, and a variety of trading instruments including forex, stocks, commodities, and cryptocurrencies.

Their commitment to regulatory compliance and customer protection ensures that clients can trade with peace of mind. With positive Swissquote reviews on various platforms like Trustpilot, Swissquote has established itself as a reliable broker in the industry.

Whether you are a beginner or an advanced trader, Swissquote offers various trading accounts and educational resources to meet your needs. With easy deposit and withdrawal options, opening a Swissquote trading account is straightforward.

Overall, Swissquote is a broker worth considering for traders looking for a reputable and reliable broker with competitive pricing and a range of trading options.

Countries

+213

Devices

Our Verdict

4.4

/ 5

See our process of evaluating brokers

Commissions & Fees

/ 5

Deposit & Withdrawal

4.5

/ 5

Customer Support

4.9

/ 5

Account Opening

3.9

/ 5

Regulation & Safety

4.8

/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

See the entire process here.

Pros

Regulated and licensed by multiple financial authorities
Offers a wide range of assets for trading
Provides advanced trading tools and platforms
Offers high-quality education and research resources
Has excellent customer support

Cons

Does not accept clients from some countries, including the United States
Has high minimum deposit requirements
Has limited leverage compared to some other brokers
Has higher spreads on some assets
Charges commission fees on some CFD trades

General details

Type of accounts

Unlimited Demo Accounts

Standard Accounts

Segregated accounts

Trading platforms

METATRADER 4

METATRADER 5

Execution Model

STP

Deposit currency

USD

EUR

JPY

GBP

AUD

CHF

CAD

MXN

CNY

NZD

SEK

RUB

HKD

SGD

TRY

KRW

Regulatory complience

Deposit payment systems

Withdrawal payment systems

Support Languges

English

Arabic

Spanish

Italian

Chinese

German

Russian

Serbian

Slovak

French

Autotrading

MT4 EA MT5 EA MQL.5 Signals

Contact details

[email protected]

0848 25 88 88

Customer reviews

Read real reviews from traders all over the world:

Miguel Carter

26 January 2023

Advantages: A variety of allowed trading strategies Automated portfolio management Good educational offering

Disadvantages: Minimum deposit is high Low leverage

I wouldn't say that working with this broker has been a bad experience, it just wasn't the best option for me. There are many advantages, that's for sure, but at the same time, it's important to mention that some disadvantages will make you turn to another broker, such as minimum deposit and leverage. I still haven't decided whether it would be better for me to choose another broker or work with this one, but I can say that I wasn't disappointed, that's for sure.

Jaden Holland

16 November 2022

Advantages: Transparent conditions All types of trading: independent, trust management, automatic, using Expert Advisors A large number of tools, training materials

Disadvantages: Few bonuses A number of confirmed reviews with complaints about the inaccuracy of quotations The User Agreement contains strict clauses in relation to the client

I found everything I needed here for myself, the opportunity to study, invest, trade. I reviewed all the information available on the site, noticed the underlying trade from the levels, understanding of the market. All that the broker gives at his seminars. I myself use trading from levels and quite successfully.

See all 22 customers reviews

Accounts

Types of Trading Accounts on Swissquote

Standard Trading Account: Swissquote offers a Standard Trading Account designed for beginners and experienced traders. It comes with a minimum deposit of CHF 1,000 or equivalent in other currencies and offers variable spreads starting from 1.4 pips. Traders can trade forex, indices, commodities, and more than 70 other financial instruments with this account type. The Standard Trading Account is commission-free, and traders can use the popular MetaTrader 4 platform to place trades.

Premium Trading Account: The Premium Trading Account is designed for experienced traders who require additional features and benefits. The account requires a minimum deposit of CHF 10,000 or equivalent in other currencies and offers tighter spreads starting from 1.1 pips. Traders can trade forex, indices, commodities, and more than 70 other financial instruments with this account type. The Premium Trading Account offers additional benefits such as personalized support, research tools, and access to exclusive events.

Prime Trading Account: The Prime Trading Account is designed for professional traders who require the most advanced features and benefits. The account requires a minimum deposit of CHF 50,000 or equivalent in other currencies and offers spreads starting from 0.1 pips. Traders can trade forex, indices, commodities, and more than 70 other financial instruments with this account type. The Prime Trading Account offers additional benefits such as access to liquidity from Tier-1 banks, customized trading conditions, and dedicated support.

Islamic Trading Account: Swissquote offers an Islamic Trading Account that is designed for traders who follow Sharia law. The account type is available for both Standard and Premium account holders and is commission-free. The account follows the principles of Islamic finance and does not charge any overnight interest on positions held for more than 24 hours. The account also offers access to the popular MetaTrader 4 platform.

Demo Trading Account: Swissquote offers a Demo Trading Account that allows traders to practice trading strategies and learn about the markets without risking any real money. The demo account comes with virtual funds and is available for all account types. It offers the same trading conditions and features as live accounts and is an excellent way for traders to test their trading skills before opening a live account.

Standard - Swissquote

Availability of a VIP account

Phone trading

Trading Platforms

METATRADER 4 ADVANCED TRADER

Deposit currency

USD

EUR

JPY

GBP

AUD

CHF

CAD

MXN

CNY

NZD

SEK

RUB

HKD

SGD

TRY

KRW

Trading instruments

Forex

1:100

CFD's

1:10

Amount of assets: 200

Metals

1:100

Energy Source

1:100

Stop Out

0.5 %

Minimum position size

0.01 units

Maximum position size

No limit on units

Execution type

instant

Spread type

Floating

Decimal places

Margin Call

0.5 %

Locked Margin Level

1 %

Commission

Not

Other

Swap free

VIP account

Phone trading

Scalping

Hedging

Spread type

Trading with expert

Trading 24 hours a day

Trailing stop

Interest on free balance

Mailing the documents

Premium - Swissquote

Availability of a VIP account

Phone trading

Trading Platforms

METATRADER 4 ADVANCED TRADER

Deposit currency

USD

EUR

JPY

GBP

AUD

CHF

CAD

MXN

CNY

NZD

SEK

RUB

HKD

SGD

TRY

KRW

Stop Out

0.5 %

Minimum position size

0.01 units

Maximum position size

No limit units

Execution type

instant

Spread type

Floating

Decimal places

Margin Call

0.5 %

Locked Margin Level

1 %

Commission

Not

Other

Swap free

VIP account

Phone trading

Scalping

Hedging

Spread type

Trading with expert

Trading 24 hours a day

Trailing stop

Interest on free balance

Mailing the documents

Professional - Swissquote

Availability of a VIP account

Phone trading

Trading Platforms

METATRADER 4 ADVANCED TRADER

Deposit currency

USD

EUR

JPY

GBP

AUD

CHF

CAD

MXN

CNY

NZD

SEK

RUB

HKD

SGD

TRY

KRW

Stop Out

0.5 %

Minimum position size

0.01 units

Maximum position size

No limit on units

Execution type

instant

Spread type

Floating

Decimal places

Margin Call

0.5 %

Locked Margin Level

1 %

Commission

Not

Other

Swap free

VIP account

Phone trading

Scalping

Hedging

Spread type

Trading with expert

Trading 24 hours a day

Trailing stop

Interest on free balance

Mailing the documents

Tradable instruments

Tradable instruments on SwissQuote trading platforms include:

Currencies

Stocks

3000

Indices

Commodities

N/A

Bonds

N/A

Frequently asked questions

Find the right answer to your question below.

Is Swissquote a Scam?

Swissquote is not a scam, and there is no evidence to suggest otherwise. The overall Swissquote review is positive, with many users praising its platform, customer service, and competitive pricing.

How do I open a Swissquote Forex trading account?

To open a Swissquote forex trading account, simply visit the Swissquote website and click on the “Open an account” button.

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