Swiss Markets Review

Swiss Markets is a client-centric brokerage firm founded in 2012. Over the years, Swiss Markets has attempted to establish itself as one of the foremost forex brokers in the market. In this Swiss Markets review, we'll delve into the many details worth knowing about Swiss Markets.

Swiss Markets offers various trading instruments, including hundreds of derivative assets you can easily trade on the MetaTrader4 (MT4) platform. Swiss Markets is a subsidiary of the BDSwiss Holding Group, a reputable company that has been in operation since 2012.

Swiss FX offers tailored trading products to financial institutions such as banks, brokers, hedge funds, and professional traders. As a regulated broker, Swiss Markets adheres to strict regulatory guidelines set by the Mauritius Financial Services Commission (FSC), license no. C116016172. 

Supported Countries

SWISS MARKETS caters to a worldwide clientele and welcomes clients from various countries, such as the United Kingdom, Cyprus, Seychelles, Mauritania, Portugal, Spain, Italy, the Netherlands, Canada, the Russian Federation, Estonia, and France.

While SWISS MARKETS is proud to offer its services to a global audience, some countries have regulations and legal restrictions preventing the platform from accepting clients. Unfortunately, this online trading platform is unavailable if you're located in the United States, Cuba, Syria, Sudan, or North Korea. You can only use the broker’s service if you move to countries without restriction.

Customer Service Rating

According to the reviews on Trustpilot, SWISS MARKETS has a poor rating of 1.8 stars out of a possible 5, based on 26 reviews. Many reviewers have accused the platform of being fraudulent and not transparent enough, which has raised questions about the reputation of SWISS MARKETS. 

SWISS MARKETS Forex Trading Platforms

SWISS MARKETS only offers MT4 as their trading platform. However, this platform is widely recognized and preferred by traders worldwide due to its user-friendly interface and advanced technical analysis and charting tools.

• MetaTrader4: MT4 offers over 250 assets to trade, including forex pairs, metals, energies, cryptocurrencies, indices, and equities. With this range of options, traders have the flexibility to diversify their portfolios and trade a variety of financial instruments. MT4's charting tool package is also impressive and provides traders with a wide range of technical analysis tools to help them make informed trading decisions. MT4 on SWISS MARKETS is also available on various devices and operating systems, including Windows, Mac, iOS, Android, and the web. MT4 is offered in 24 languages, making it accessible to traders worldwide. The languages include English, Russian, Spanish, Italian, Malay, Polish, German, Vietnamese, Nordic, Turkish, Slovakian, Indonesian, Chinese, Portuguese, Arabic, and many more.

Type of Trading Accounts on SWISS MARKETS

Swiss Markets offers its customers two account types: the STP Classic and STP Raw. The platform's primary focus is on straight-through processing (STP), which is a method that allows for faster and more efficient trade execution. 

Each financial instrument available for trading on Swiss Markets has two associated account types.

• Forex Trading: With the Classic STP account, traders can access a range of base currency options such as EUR, USD, and GBP. The contract size is 1 lot, equal to 100,000 units of the base currency. Traders can use leverage as high as 1:500, and the spread on EUR/USD is set at 0.9 pips. No commission is charged on trades, and traders can open up to 200 positions. The minimum trade volume is 0.01 lots, and traders can hedge their positions. The platform also offers an Islamic account option; the equivalent first deposit for this account type is $200. Alternatively, the STP Raw account, also known as SWISS11, provides traders with even more favorable trading conditions. The Raw STP account has the same base currency options, minimum trade volume, minimum deposit, and contract size as the Classic STP account. However, traders can use leverage up to 1:200, and the spread on EUR/USD can go as low as 0 pips. The commission on trades is $11, and traders can open up to 200 positions.

• Precious Metals Trading: The Classic STP account for precious metals trading offers base currency options of USD, EUR, and GBP, with a contract size of 1 lot equaling 100 units of the metal being traded. The leverage offered is 1%, and the spread on XAU/USD can go as low as 22 points. No commission is charged on trades, and traders can open up to 200 positions. The minimum trade volume is 0.01 lots, and hedging is allowed. The platform also offers an Islamic account option; the equivalent first deposit for this account type is $200. For traders who prefer Raw STP accounts, the platform offers the SWISS11 account for trading precious metals. With this Account, traders can access the same base currency options and contract size as the Classic STP account. However, the leverage is also 1%, and the spread on XAU/USD can go as low as 18 points. The commission on trades is $5, and traders can open up to 200 positions.

Trading Denominations on SWISS MARKETS

Swiss Markets offer multiple trading denominations, allowing traders to select the currency they are most comfortable with. You can trade with EUR, USD, and GBP.

Company Structure

Swiss Markets Broker has been in the trading industry for a while now and has been able to serve clients worldwide thanks to its headquarters in Cyprus, Mauritius, and Seychelles. According to information on its website, the Broker has proudly provided its Forex/CFD trading services to over 4 million clients worldwide. 

It's important to know that Swiss Markets is the brand name of BDS LTD, stationed in Seychelles, and is also part of BDS Markets, which is situated in Mauritius. All payment transactions are managed by BDS Markets, ensuring the highest level of security and protection for clients.

SWISS MARKETS Licenses and Regulatory Compliance

Swiss Markets Broker is regulated by multiple jurisdictions, which adds to its credibility and trustworthiness. These regulations and licenses include:

• Cyprus Securities and Exchange Commission (CySEC): License No. 199/13

• Financial Services Authority (FSA) Seychelles: License number SD047

• Financial Services Commission (FSC) Mauritius: License number C116016172

Swiss Markets' adherence to multiple regulations means they must comply with strict requirements set by these authorities. However, it's important to note that while the regulations may seem strict, the Seychelles and Mauritius are popular among Forex brokers due to their lax regulation requirements.

Customer service

Swiss Markets' customer support team can always assist you with queries or concerns. They can be contacted in real-time via phone (+44 (20) 36709704), email, live chat, and form.

What's great about their support team is that they provide support in multiple languages, including English, German, Spanish, and Greek. 

SWISS MARKETS Forex Customer Protection

The Swiss Markets Broker is not transparent about their policies regarding this matter. There is no direct reference to customer protection policies on its platform.

While this can be concerning for some traders, it's important to remember that Swiss Markets is a regulated broker. As mentioned earlier, Swiss Markets is authorized and licensed by CYSEC, FSA Seychelles, and FSC Mauritius, which means it must adhere to certain regulations and standards.

According to its terms and conditions and other legal documents, Swiss Markets claims to provide its clients with “appropriate technical and organizational security measures to prevent personal information from being accidentally lost, used or accessed unlawfully. We limit access to your personal information to those who have a genuine business need to access it… We also have procedures to deal with suspected data security breaches. We will notify you and the relevant supervisory authority of a suspected data security breach when legally required."

Trading Information

Swiss Markets has set its minimum deposit at a reasonable $200. The platform also takes pride in not charging fees for funding accounts, which is a significant advantage for traders. 

However, it's worth noting that commissions on trades can be high and go up to $11, depending on the asset class and volume traded. Swiss Markets offers floating spreads starting at 0.9 pips on the Classic STP account and 0 on the STP Raw account.

Tradable Instruments

Swiss Markets provides traders with various trading instruments that cater to their diverse trading needs. Here are some of the trading instruments that Swiss Markets offers:

• Forex

• Metals

• Energies

• Indices

• Equities

SWISS MARKETS Leverage

Swiss Markets offers maximum leverage of up to 1:500, which is quite high compared to other brokers in the industry. However, it's important to note that the leverage offered may vary depending on the account type and instrument being traded on Swiss Markets.

Deposits and Withdrawals

For Swiss Markets, depositing funds is one of the most important trading parts. They've collaborated with secure and leading payment providers to provide clients with the most convenient and hassle-free deposit options.

Swiss Markets strives to provide clients convenience and ease when withdrawing their funds. They pride themselves on offering the best service possible and aim to process all withdrawal requests within 24 hours. 

Deposits 

The minimum deposit amount required to start trading is $200 for both the Classic and Raw STP accounts. Swiss Markets only accepts deposits from the trading account holder, and the trading account and deposit method used must have the same name for security reasons.

Swiss Markets accepts various payment methods, including credit/debit cards, bank transfers, and electronic payment systems.

Withdrawals

Swiss Markets processes all withdrawals within 24 working hours. However, the time it takes for the funds to reach the client's Account depends on their bank's timeframe and the method used for withdrawal. 

For a withdrawal to be accepted, appropriate documentation must be provided to verify the client's trading account fully. Also, Swiss Markets requires that withdrawals be made using the same method in funding the trading account.

FAQs

Is SWISS MARKETS a Scam?

While SWISS MARKETS is a regulated broker, it's important to note that the company has received some negative reviews on Trustpilot. These reviews have raised concerns about the Broker's reliability and customer service.

It's also worth noting that SWISS MARKETS has not disclosed much information about its customer protection policies, which can be a red flag for some investors. 

How do I open a SWISS MARKETS trading account?

Opening a trading account with SWISS MARKETS is a straightforward process, and it can be done in just a few simple steps. Here's what you need to do:

1. Start by visiting the SWISS MARKETS website and clicking the "Register" button.

2. You will then be prompted to fill in a registration form with your personal information, including your name, email address, and phone number.

3. Choose the account type that best suits your trading needs. SWISS MARKETS offers three types of accounts: Classic STP, Raw STP, and VIP.

4. To comply with regulatory requirements, you must submit a copy of your identification documents, such as a passport or driver's license, and a proof of address document, such as a utility bill or bank statement.

5. Once your Account has been approved, you can fund it with a minimum deposit of $200 via various payment methods.

Conclusion

Swiss Markets is a well-established broker offering clients a wide range of trading instruments worldwide. While there are concerns regarding its customer protection policy and high trading fees, its maximum leverage of up to 1:500 and floating spreads make it an attractive option for traders.

The lack of transparency on education tools and research materials is a cause for concern. Still, the customer support team can be reached easily in real-time through phone, email, live chat, and return calls in multiple languages.

Opening a Swiss Markets trading account is a simple process that involves filling out an online form, submitting the necessary documents, and making a minimum deposit of $200.

For more top brokers, make sure to check out our RoboForex review and BMFN review.