Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

Trusted Swiss Forex Brokers

swiss forex brokersWhat comes to mind when Switzerland is mentioned? For most people, banking, chocolate and even the Alps will be the first thing that pops into their mind when talking about Switzerland. Aside from this, the country is well-known in Europe and even in Forex markets as a financial and banking hub.

The stability and even financial success of the country has given Swiss Forex brokers in the country a great reputation. Not only will you find excellent trading conditions but you will also find transparent trading activities. Remember, the swiss franc (CHF) is one of the major trading currencies in the world. Although there are adequate regulations to protect the retail traders from fraud and extortion, this may not be sufficient especially where a Swiss citizen decides to choose an international brokerage firm.

To get an idea of some of the best brokerage companies in Switzerland, go through the table below.

  • Key information
  • Trading
  • Payment systems
  • Trading platforms
  • Trading instruments
  • Support
  • Trading accounts
  • Account settings
  • Spreads
  • Promotion
Filter
Company#LogoForex brokerFoundedRegulatedReviewsPayment systemsBroker type(?)Min. DepositMax.
leverage
Live spread
Interval:
Live
spread
EUR/USD
Live spread
Interval:
Live
spread
GBP/USD
Live spread
Interval:
Live
spread
USD/CHF
Live spread
Interval:
Live
spread
USD/CAD
Live spread
Interval:
Live
spread
USD/JPY
Live spread
Interval:
Live
spread
AUD/USD
Live spread
Interval:
Live
spread
NZD/USD
Live spread
Interval:
Live
spread
EUR/AUD
Live spread
Interval:
Live
spread
EUR/CAD
Live spread
Interval:
Live
spread
EUR/CHF
Accepting US traders?Account
Forex.com1Forex.combest broker2001
FCA, CFTC

Regulated

38

Payment systems

ECN, MM
100 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1
eToro2eToro2007
ASIC, FCA
54

Payment systems

NDD, STP
50 $-N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1
IG3IG1974
ASIC, FCA
14

Payment systems

DMA, MM
0 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1
TD Ameritrade4TD Ameritrade1975
FINRA, SIPC
6
DMA
2000 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1
Saxo Bank5Saxo Bank199219

Payment systems

ECN, STP
10000 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1
LMFX6LMFX2015-25

Payment systems

NDD
50 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
OANDA7OANDA1996
ASIC, FCA
18

Payment systems

-0 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1
CMC Markets8CMC Markets1989
ASIC, FCA
26

Payment systems

NDD, STP
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Interactive Brokers9Interactive Brokers1977
FCA, CFTC

Regulated

10

Payment systems

MM
10000 $1:40N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1
City Index10City Index2001
ASIC, FCA
12

Payment systems

NDD, ECN
250 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FxGlory11FxGlory2012-10

Payment systems

NDD, MM
1 $1:3000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
XM.COM12XM.COM2009
ASIC, IFSC

Regulated

74

Payment systems

MM
5 $1:30N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Capital.com13Capital.com2016
ASIC, FCA
80

Payment systems

MM
20 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
AXITrader14AXITrader2007
ASIC, FCA
12

Payment systems

NDD
0 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
XTB.com15XTB.com2002
FCA, CNMV
5

Payment systems

NDD, STP
250 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
RoboMarkets16RoboMarkets2012
CySEC
20

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
  • MM
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
RoboForex17RoboForex2009
IFSC
19

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
  • MM
0 $1:2000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Forex4you18Forex4you2007
FSC
32

Payment systems

NDD, STP
20 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
NordFX19NordFX2008
SEBI, VFSC
101

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
0 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Plus50020Plus5002008
ASIC, FCA
39

Payment systems

NDD
100 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
HYCM21HYCM1977
FCA
138

Payment systems

MM
100 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
LegacyFx22LegacyFx2012
CySEC, VFSC
0

Payment systems

NDD, STP
250 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FBS23FBS2009
IFSC, NAFD
91

Payment systems

ECN, STP
1 $-N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
EXNESS24EXNESS2008
FCA, CySEC
84

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
  • MM
0 $1:2000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FxPro25FxPro2006
FCA, CySEC

Regulated

108

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Swissquote26Swissquote1996
FINMA
25

Payment systems

STP
1000 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FXCM27FXCM1999
ASIC, FCA
18

Payment systems

NDD
0 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Admiral Markets28Admiral Markets2001
FCA, CNMV
23

Payment systems

NDD, ECN
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
AVATrade29AVATrade2006
ASIC, CBI
59

Payment systems

NDD
100 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
IQ Option30IQ Option2013
FSA
5

Payment systems

NDD
10 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FxGiants31FxGiants2015
FCA
15

Payment systems

ECN, STP

Broker type

  • ECN
  • STP
  • MM
50 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Vantage FX32Vantage FX2009
ASIC
11

Payment systems

ECN
200 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Instaforex33Instaforex2007
RAUFR
86

Payment systems

NDD, ECN
1 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Alfa-Forex34Alfa-Forex2016
CBR
14

Payment systems

NDD
0 $1:40N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FIBO Group35FIBO Group1998
FSC, CNMV
28

Payment systems

NDD, MM
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Markets.com36Markets.com2006
CySEC
12

Payment systems

NDD
100 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FXOpen37FXOpen2005
ASIC, FCA
97

Payment systems

ECN, STP

Broker type

  • ECN
  • STP
  • MM
1 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
GrandCapital38GrandCapital2006-15

Payment systems

STP
10 $1:2000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
AMarkets39AMarkets2007
FSA
69

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
100 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Dukascopy Bank SA40Dukascopy Bank SA1998
FINMA
14

Payment systems

ECN
1000 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Dukascopy Europe41Dukascopy Europe2010
FCMC
14

Payment systems

ECN
100 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FP Markets42FP Markets2005
ASIC, CySEC
16

Payment systems

DMA
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Just2Trade43Just2Trade2006
CySEC
37

Payment systems

ECN, STP
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
DeltaStock44DeltaStock1998
BNB
14

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
  • MM
100 $-N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
IFC Markets45IFC Markets2006
FSC, CySEC
36

Payment systems

STP
0 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
HotForex46HotForex2010
CySEC, FSC
76

Payment systems

NDD
5 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
IC Markets47IC Markets2007
ASIC
21

Payment systems

NDD, ECN
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FXDD48FXDD2002
MFSA
6

Payment systems

NDD, ECN
250 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Finpari49Finpari2013
CySEC
3

Payment systems

NDD, STP
100 $-N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
ActivTrades50ActivTrades2001
FCA, CNMV
71

Payment systems

NDD
100 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
AAFX Trading51AAFX Trading2014
ASIC, FSA
226

Payment systems

NDD, ECN
100 $1:2000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
LiteForex52LiteForex2008
CySEC
38

Payment systems

ECN
50 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
BCS Forex53BCS Forex2006
FSA
12

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
  • MM
1 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
ForexMart54ForexMart2015
CySEC
21

Payment systems

ECN
1 $1:5000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Binarium55Binarium2012
CROFR
4

Payment systems

-9 $-N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Fortrade56Fortrade2013
FCA, FSCS

Regulated

15

Payment systems

-100 $1:30N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
EasyMarkets57EasyMarkets2001
ASIC, CySEC
13

Payment systems

MM
100 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Orbex58Orbex2010
CySEC
21

Payment systems

ECN
500 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Hantec Markets59Hantec Markets2009
FCA
12

Payment systems

NDD
1000 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
ForexChief60ForexChief2014
VFSC
119

Payment systems

ECN, STP
1 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
ICM Capital61ICM Capital2009
FCA
4

Payment systems

-200 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Octa FX62Octa FX2011
FCA, FSA
27

Payment systems

ECN
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Fort Financial Service63Fort Financial Service2010
IFSC
2

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
5 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
BMFN64BMFN1988
ASIC, FCA
12

Payment systems

NDD, DMA
0 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Core Spreads65Core Spreads2014
FCA
14

Payment systems

NDD
1 $1:240N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
NPBFX66NPBFX1996
IFSC
18

Payment systems

NDD, STP
10 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FreshForex67FreshForex2004
KROUFR
61

Payment systems

NDD, MM
0 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
City Index Singapore68City Index Singapore2006
MAS
3
MM
100 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Degiro69Degiro2008
BaFin
8
NDD
0 $-N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
GO Markets70GO Markets2006
ASIC
14

Payment systems

NDD
200 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Forex.ee71Forex.ee2004
FSA
8

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
10 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Tickmill72Tickmill2014
FCA, SIBA
10

Payment systems

NDD
25 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Yadix.com73Yadix.com2010
FSC
52

Payment systems

ECN, STP
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FXPRIMUS74FXPRIMUS2009
CySEC, VFSC
11

Payment systems

STP
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Swiss Markets75Swiss Markets2012
CySEC
3

Payment systems

STP
200 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
PSB Forex76PSB Forex2016
CBR, NAFD

Regulated

6
NDD
1500 $1:40N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
ICE FX77ICE FX2015-8

Payment systems

STP
30 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FriedbergDirect78FriedbergDirect2008
IIROC
10

Payment systems

NDD, STP
0 $1:33N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
TrioMarkets79TrioMarkets2014
CySEC
8

Payment systems

ECN, STP
500 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
iOCBCfx80iOCBCfx2004
MAS
8
NDD
1000 $1:35N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
UOB Kay Hian81UOB Kay Hian2000
MAS
6
NDD
0 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
KGI Futures82KGI Futures2001
MAS
8
NDD
1000 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
KE Forex83KE Forex1972
MAS
9
NDD
0 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Haitong84Haitong2010
MAS
8
NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
0 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FXCitizen85FXCitizen2010
VFSC
10

Payment systems

NDD, ECN
10 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Land FX86Land FX2013
FCA, FSCS

Regulated

11

Payment systems

NDD, ECN
300 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Pepperstone87Pepperstone2010
ASIC
12

Payment systems

ECN
200 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
PhillipCapital UK88PhillipCapital UK1975
ASIC, FCA
7
NDD
200 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Ak Investment89Ak Investment1996
SPK
10
NDD, DMA

Broker type

  • NDD
  • DMA
  • MM
1000 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
InvestAZ90InvestAZ2010
FSP, SPK
8
ECN
100 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Corner Trader91Corner Trader2012
FINMA
9
MM
1 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Abshire-Smith92Abshire-Smith2011
FCA, FSCS
10

Payment systems

STP, DMA
500 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
ArgusFX93ArgusFX2000
CySEC
10

Payment systems

STP
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Ayondo94Ayondo2008
FCA, BaFin
9

Payment systems

NDD
100 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Bacera95Bacera2009
ASIC
10

Payment systems

MM
0 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
BogoFinance96BogoFinance2006
CySEC
10

Payment systems

NDD
100 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Capital Index97Capital Index2014
FCA, CySEC

Regulated

3

Payment systems

NDD, STP
100 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Core Liquidity Markets98Core Liquidity Markets2012
ASIC, FSA
10

Payment systems

NDD
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
CMG99CMG2015
ASIC
16

Payment systems

-250 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Colmex Pro100Colmex Pro2010
CySEC
13
NDD, ECN
2000 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Darwinex101Darwinex2012
FCA
9

Payment systems

STP, DMA
500 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
eTrader102eTrader2014
CySEC
11
NDD
100 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Flatex103Flatex1999
BaFin
9
NDD, MM
0 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Fullerton Markets104Fullerton Markets2015
FSP
11

Payment systems

ECN, STP
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FX88105FX882016
CySEC
2

Payment systems

ECN
100 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FXCC106FXCC-
FCA, CySEC
91

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
100 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FX Choice107FX Choice2010
IFSC
6

Payment systems

NDD
100 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FxGrow108FxGrow2008
CySEC
4

Payment systems

ECN, STP
100 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
GMG Markets109GMG Markets2015
FCA
2
NDD, STP
200 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
HMS Markets110HMS Markets1972-2
NDD
1000 $1:40N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Infinox Capital111Infinox Capital2009
FCA
7

Payment systems

ECN, STP
100 $1:30N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
iTrader112iTrader2012
IFSC
4

Payment systems

NDD
250 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Mex Exchange113Mex Exchange2012
ASIC
3

Payment systems

NDD, ECN
200 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FXPCM114FXPCM2007
FSC, DFSA

Regulated

2

Payment systems

NDD, ECN
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Rakuten Securities Hong Kong115Rakuten Securities Hong Kong2002
SFC
2
NDD, STP
0 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
RietumuFX116RietumuFX1992
FCMC
5
NDD
1000 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
TFI Markets117TFI Markets1999
CySEC
3
NDD
50 $1:30N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Tradealot118Tradealot2010
FCA
6

Payment systems

STP
2000 $1:30N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
FinmaxFX119FinmaxFX2017
CROFR, VFSC
18

Payment systems

MM
250 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
CommSec120CommSec1998
ASIC
3
DMA, MM
10 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
VTB 24 Forex121VTB 24 Forex2009
CBR, KROUFR
2

Payment systems

NDD
2000 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Finam Forex122Finam Forex1994
CBR, NAFD

Regulated

3

Payment systems

NDD, DMA
0 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
MultiBank Group123MultiBank Group2005
ASIC
1

Payment systems

ECN
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
AMP Global124AMP Global2018
CySEC, CFTC

Regulated

5

Payment systems

STP
100 $1:30N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Ingot Brokers125Ingot Brokers2004
ASIC
7
ECN
100 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Alvexo126Alvexo2014
CySEC, SIBA
8

Payment systems

ECN
0 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
AETOS127AETOS2007
ASIC
5

Payment systems

NDD
250 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Arum Capital128Arum Capital2017
CySEC
2

Payment systems

ECN, STP
0 $1:30N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
ATFX129ATFX2015
FCA
15

Payment systems

NDD
0 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Key to Markets130Key to Markets2010
FCA, FSP

Regulated

4

Payment systems

ECN
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Trading.com131Trading.com2018
FCA
2

Payment systems

ECN
5 $1:30N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
BDSwiss132BDSwiss2012
CySEC, FSC
9

Payment systems

ECN
0 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
ATC Brokers133ATC Brokers2005-2
ECN
2000 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
ACY.com134ACY.com2011
ASIC, VFSC
2
ECN, STP
--N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0
Milton Prime135Milton Prime2015
CySEC, SIBA
0

Payment systems

NDD
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0


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Brief history of trading in Switzerland

Currency trading was a rather lax activity in Switzerland before 2008. Prior to this, there were little regulatory objective concerning the trading of currencies in the country. Most of the laws and regulations during this period was meant to curb money-laundering when changing currencies. As a result, there were more than 200 forex brokers who were operating in the country. It is common sense that not all these forex brokers could be trusted with funds from their clients. In a bid to protect the clients from unscrupulous forex brokers, the regulating authority of financial services in the country decided that Forex brokers would also need banking licenses before they are allowed to operate.

On march 31, following the 2008 recession and the need to protect clients from unsafe forex brokers, the swiss financial market supervisory authority sought to have forex brokers meet the same requirements as that of a bank. The banking industry is often the most regulated sector in most economies and this move resulted in only two forex brokerage companies remaining in the country at the time. A key point to note is that Switzerland is known for its stable financial institutions which arose due to the stringent rules and compulsory self-regulation.

Forex regulation in Switzerland

swiss government

One of the major ways through which regulations in Swiss differ from FX regulations in other countries is the amount of freedom that both Swiss brokers and traders are accorded in the country. The country views their traders as both experienced and mature. Due to this, there are limited restrictions that are to be imposed on the traders and even the brokers. Leverage, for example, is a really important tool that traders can use to increase their profits. If not used well, however, leverage can also magnify the losses that traders get especially if they do not have the knowledge and skills to use the instrument well.

Unlike other jurisdictions with mature regulatory framework, Switzerland does not set a cap on the amount of leverage that forex brokerage companies can set. Also, the regulatory authority does not bar traders and brokers from engaging in credit card funding or impose other minor restrictions. As a result, the brokerage companies can easily set the terms that they consider appropriate for their clients. Although many countries all over the world have stringent FX regulations, their enforcement mechanisms will determine whether these regulations are ultimately effective. In the case of Switzerland, there are both internal and external audits that are mandatory for the financial institutions. Since Forex brokerage companies are treated as banks, they also have to carry out these internal and external audits.

It is mandatory for the FX firms to carry out an internal audit. To ensure the credibility of these internal audits, the process is delegated to subordinates who report directly to the companies board of directors. Since the report will be sent directly to the board and not to the executive management, there can be some sense of authenticity. Also, there needs to be a distinction between the board of directors and the senior management with the former expected to be independent. For the case of external audits, banks and forex firms have to get an external auditor who will have two primary functions. The external auditors will first audit the financial statements of the business in compliance with the statutory rules of the country. Secondly, they will also conduct an audit in a bid to ensure that the firms comply with the regulations and the banking rules of Switzerland. To ensure there is independence and credibility, any external audit reports made by external auditors will be sent directly to FINMA (Swiss Financial Market Supervisory Authority). Any observations and even deductions that the auditors make is presented before the regulatory authority to ensure that the body has an understanding of the financial institutions.

Monitoring and Regulation of Brokerage companies by FINMA

Swiss Finma logo

There are a couple of measures that the regulatory authority takes to ensure forex firms and even banks are in compliance with the rules. One of the key enforcement mechanisms that they use is proposing the change of management. For example, if a brokerage firm does not have the competent people to run its affairs, the body may require it to change the whole management or even ban certain individuals from becoming managers. FINMA can also impose some risk compliance activities in a bid to ensure that the clients’ funds in the firm are safe. In cases where a forex brokerage company violates the forex regulations, the regulatory authority may choose to halt all the financial operations of the firm or require a change in shareholder composition.

Another key enforcement and regulation measure taken by FINMA involves the mandatory disclosure requirements. Traders eventually need to know and understand the financial position of their forex brokers to ascertain their financial stability. After all, who would want to trade or invest with a company that is facing financial squabbles. For this reason, clients should have access to some level of reliable financial information that has been duly audited and authenticated (check FINMA Regulated Forex brokers ). Swiss banks are mandated to publish a couple of reports to their clients. First, they need to report an annual report after every financial year but before the completion of 4 months. Furthermore, each bank also needs to publish their income statement and even balance sheet after every half-year. Since forex companies need to meet the same legal and operational thresholds as Banks, they are also required to comply with these regulations. The high level of transparency among these companies makes it easier for Swiss traders to evaluate the best or the safest Swiss forex brokers in the country.  

While the above enforcement and regulations guarantee some level of safety on the part of the traders, they do not offer any guarantee that there will be no incident that happens. The only thing that can guarantee the forex traders such safety against bankruptcies is the depositor scheme set up by the Swiss government. Bank and even forex deposits in Switzerland are guaranteed against bankruptcy to a tune of CHF 100,000. This rate is insured to each client in every bank.

How to choose a Swiss Forex Brokers

Trading platform

An important consideration for most traders is the type of trading platform that their forex broker supports. As a trader, you will interact with the trading platforms on a number of occasions and it is important to ensure it has a great user interface. A good trading platform will have a variety of features including charting tools, forex data and even financial news that affects the financial markets. Some of the good trading platforms include MetaTrader4, Webtrader or even Mobile Trader.

Financial stability

No one wants to invest in a failing brokerage company and the Swiss government has made stringent regulations to ensure that forex traders know the financial health and position of their brokerage firm. According to the rules set by FINMA, brokerage firms are expected to publish their financial information  on an annual basis. Since brokers need to publish and audit their financial statements, the traders can rely on this information to make informed decisions.

Customer support

You will have to interact with the customer support of your fore broker and this may make a big difference in whether you will make a profit or a loss. For example, you are likely to lose funds if a trading platform takes time to execute a trade. What should you consider when choosing a forex broker with a good customer service? You need a polite and even polite customer representative who will always be there to attend to your needs at any time. The forex broker should also have a number of communication channels which may include live chats, phone numbers, instant email or even online contact forms.

Popular forex brokers in Switzerland

  1. Dukascopy

It offers direct access to the foreign exchange marketplace. One of the primary benefits of the marketplace is that the FX broker offers the biggest pool of ECN forex liquidity. The brokerage firms caters for hedge funds, institutions, banks and other retail investors. It is FINMA rgulated and also has a European branch  which is EU licensed and wholy owned by Dukascopy Bank SA.

  1. Swissquote Bank

This is one of the popular forex brokerage firms in Switzerland. Swissquote Bank is regulated by tworegulatory authorities including the Financial Conduct Authority of the UK and Swiss Financial Market Supervisory Authority (FINMA). The minimum deposit for this forex broker is 2,000 Euros with a leverage of 500:1. It also offers a number of trading platforms which include

  1. MetaTrader4
  2. Advanced trader
  3. Web-based trader
  4. Mobile-based trading

Unfortunately, it does not offer a free demo account and also rejects US clients due to the stringent regulations imposed.