Swissquote
Overall Rating:★ ★ ★ ★ ★ (4.7 / 5)
Introduction★ ★ ★ ★ ★ (5/5)
Licensing & Regulation★ ★ ★ ★ ★ (5/5)
Mobile Trading★ ★ ★ ★ ★ (5/5)
Brand & Functionality★ ★ ★ ★ (4/5)
Registration Process★ ★ ★ ★ ★ (5/5)
Depositing Process★ ★ ★ ★ (4/5)
Product Offering★ ★ ★ ★ ★ (5/5)
Trade Execution★ ★ ★ ★ ★ (5/5)
Banking★ ★ ★ ★ ★ (5/5)
Customer Support★ ★ ★ ★ (4/5)
Trading Tools★ ★ ★ ★ ★ (5/5)

Broker Information

User Rating
Swissquote
4.5 (90%) 2 vote[s]
Leverage
Instruments
Platforms
Account Types
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Commissions
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  • Swissquote
  • Swissquote
  • Swissquote

Introduction

★ ★ ★ ★ ★

Swissquote is an international bank and multi-asset broker offering traders direct access to more than 2 million products, including everything from CRDs to Forex, wealth advisory to exchange-traded securities as well as underlying cryptocurrencies and just so much more. Swissquote established in 1996 was listed on six Swiss stock exchanges by 2000 and have since become a leading broker in the United Arab Emirates, the United Kingdom, Malta and Hong Kong.

Swissquote offers an abundance of advisory services in addition to its wide range of brokerage offerings and in 2017 had more than CHF 21 billion in custody, while it maintains more than 300,000 accounts of client’s accounts regulated in Asia and Europe. Swissquote became the first bank to add underlying cryptocurrencies and trading in 2017 and in December of the same year expanded its services to also add Ripple, Litecoin, Ethereum and Bitcoin. The Swissquote Bank headquartered in Switzerland offers traders access to a massive selection of different products including derivatives, shares, ETF’s, funds, warrants, bonds, futures, and forex, across platforms such as MetaTrader 4 and 5, FXBook, eForex, Advanced Trader, and SwissquoteFOX.

Licensing & Regulation

★ ★ ★ ★ ★

Trust is crucial to the success of any forex broker, which is not something most Swissquote clients have any concerns with as it holds a FINMA Swiss banking licence in Switzerland. Swissquote is not authorised by the authorities of France, Italy, Great Britain, Canada, the USA or Germany to provide services to citizens. All information exchanged to and from Swissquote is encrypted during transmission via the use of encryption logarithms to prevent any violations, and to protect user’s privacy.

Mobile Trading

★ ★ ★ ★ ★

Never miss out again on any market opportunity when you download the free Swissquote app, which offers several apps for iPhone and Android mobile devices, the trading app used depends largely on the type of account clients open. Both iPhone and Android users find the app light and changes after updates are kept to a minimal. The app remains one of the most user-friendly, with its neat, organised design making it easy to trace or viewing positions.

The Advanced Trader app is available as a free mobile app and can be downloaded via the App Store or Google Play, while mobile users can also download the MetaTrader 4 app for Android devices via the Google Play and the App Store offers the iOS app. The third mobile app available at Swissquote is the MetaTrader 5 again available via free download from the App Store and Google Play. Mobile app functionalities include fast trade for quick orders, dynamic graphics offering price changes in real time and trade themes trading portfolios. The trading VR app is currently exclusive to traders in Switzerland who can trade via a virtual reality headset.

Operating systems supported by the mobile apps require Android 2.1 for version 3, for version 4 traders would need an Android 3 and an Android 4 for the version 5, while Windows Phone 8 is compatible and iOS 8.2 or more recent versions.

Brand & Functionality

★ ★ ★ ★

Swissquote comes from creativity and ambition and is focussed on the empowerment of international investors, which is also the main reason why the website is still visited more than two million times each month and remains the largest financial portal in Switzerland. The success of Swissquote is its ability to enable investors to access prices in real-time free of charge, while the bank believes in unbiased information, integrity and transparency. The breakthrough for Swissquote Group Holding Limited came in May 2000 when it obtained a banking license and was listed on six Swiss exchange. Swissquote’s aim was to create a connection to all the premier financial exchanges, and in 2001 gained access to exchanges such as AMEX, US NYSE and NASDAQ and was acknowledged via the Best Swiss Online Broker award. In striving to always enhance the experience of its clients, Swissquote has added in the past year’s Swiss DOTS, online mortgages, themes trading, while digital banking is an important part of facilitating its clients.

Registration Process

★ ★ ★ ★ ★

Registering a new account is a long process and requires a lot of details, although support is more than willing to provide you with a bit of guidance and the best bet is to phone support. Account opening is not instantly and could require a few days before the account can be used. The great news is that you can open your Swissquote account online and once the account is processed a confirmation email follows.

Before registration, clients need to select either the corporate account or individual account options, and the first section requires personal details such as first name, family name, marital status, date of birth, nationality, address, correspondence address and contact details including a mobile contact number and valid email address. The second part of the application also require some financial information, and once you have reviewed all information supplied you can complete registration. The customer care centre is available via free live chat, email or telephone from Monday to Friday from 8 am to 6 pm.

Depositing Process

★ ★ ★ ★

Deposits are accepted via credit card and wire transfer, while no transaction fees are charged on Visa or Mastercard. Funds can also be transferred once you have an active Swissquote account, although it is also possible to transfer from AA rated banks, and a transaction fee could be charged. Currencies accepted includes GBP, USD, EUR and CHF.

Product Offering

★ ★ ★ ★ ★

The range of markets offered by Swissquote enables clients to trade on German Bund, British Long Gilt and US T-Bond. It includes Forex, bonds, stock indices, precious metals, stock indices and commodities. When it comes to precious metals and currencies, Swissquote offers all minor, major and emerging currencies and precious metals enabling traders to have access to opportunities worldwide.

The extended list of pair trading includes AUDCAD, CHFSGD, EURAUD, EURCZK, EURJPY, EURNZD, EURCAD, CHFSGD, CHFJPY, CADJPY, EURRUB, EURZAR, GBPCHF, GBP HUF, GBPNOK, HKDJPY, NZDCAD, NZDJPY, NZDDKK, USDZAR, USDTRY, USDSEK, USDRUB, USDPLN, USDMXN, USDILS, USDHKD, USDCZK, USDCAD, TRYJPY, SGDJPY AND SEKJPY to list only a few. Trading hours are available on the website for each product.

Precious metals trading includes XAGUSD, XAGGBP, DAGCHF, XAGAUD, XPDUSD, XAUUSD, XAUGBP, XAUEUR, XAUCHF and XAUAUD. CFDs Stock indices trading includes Synthetic Germany 30, Synthetic Japan 225, Synthetic US 500, Synthetic US Tech 100, Synthetic Hong Kong 50, Spot France 40, Spot US Tech 100, Spot Spain 35, Forward Japan 225, Froward US Small Cap 2000, and Forward UK 100.

The diverse selection of commodities includes Synthetic UK Crude Oil, Synthetic US Crude Oil, Synthetic Natural Gas, Synthetic US Copper, Forward Natural Gas, Forward Heating Oil, Forward US Crude Oil and Forward Gasoline.

Trade Execution

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Swissquote offers a variety of different languages including Spanish, Deutsch, French, and English, while trading conditions include cash adjustments, pips, spreads, commissions as well as leverage and margin requirements. Swissquote traders that have surpassed 10 million units pay a commission of 0.65 pips, it is in addition to raw spreads that starts from 0.0 up to 0.3 pips on USD and EUR meaning the all-in cost is 0.95 pips. A wealth advisory and management service is offered to ePrivate investors depositing a minimum of CHF20,000 that also includes a robo-advisor service. By adding non-CFD cryptocurrency investing in Ripple, Bitcoin, Litecoin, Ethereum and Bitcoin Cash, Swissquote Bank established itself as a world leader.

Banking

★ ★ ★ ★ ★

Swissquote clients can make withdrawals via credit cards such as MasterCard and Visa and Bank Wire, although traders from China can also use UnionPay. Withdrawal currencies include CHF, EUR, GBP and USD, while Swissquote indicates that all withdrawals are sent on the same day.

Customer Support

★ ★ ★ ★

The operating hours of the Swissquote customer care centre are Monday to Friday 08:00 to 22:00 and communication options available to all clients include telephone, international telephone numbers as well as fax numbers are displayed on the website. Live chat is a fast way to instantly connect with the support team, and the FAQ provide answers to all the most frequently asked question. Clients that are new to online trading can also benefit from the user guide and tutorials while webinars are also a great way to learn more about Forex trading.

Trading Tools

★ ★ ★ ★ ★

Swissquote offers in-house platforms, these include the web and desktop version of the Swissquote Advanced Trader, while numerous third-party platforms include the MetaTrader 5, MetaTrader 4, FXBook and SwissquoteFOX platforms. The Advanced Trader desktop version runs off Java, which makes it easy to install on MacOS. The layout is like most traditional platforms used for forex offering a clean and organised layout that ensures user-friendly efficiency.

The eTrading platform is available on demo first and designed to provide traders with investment objectives in the most intuitive and simplest manner possible. The series of function added to optimise every trader’s experience includes quick search, trend radar, the latest financial news, widgets allowing traders to create a workspace that they prefer and the integrated watchlist. All clients are advised to enable two-factor authentication as an additional security measure.