Swissquote Review 2023: Read This Before You Initiate!
- What Is Swissquote?
- User Experience
- Is It Regulated?
- Pros and Cons
- Types of Trading Platforms
- Market Instruments
- Range of Instruments
- Types of Accounts
- Trading Tools
- Leverage & Margin Requirements
- Referral Program
- Resources Offered
- Supported Country
- Security Measures
- Customer Support
Swissquote Bank UK is situated in London, a subsidiary of Swissquote Bank Ltd. Swissquote broker is strictly regulated and authorized by the Financial Conduct Authority (FCA) and has been operating since 1996. The Forex and CFD broker provides more than 160 instruments on its award-winning broker platforms, including MT4, MT5, and a proprietary platform with more than 330,000 users worldwide.
|Regulated||FCA, FINMA, DFSA, SFC, CSSF|
|Product Offered||Forex, CFD, Fund, Bond, Stock, ETF, Options, Futures, Cryptos|
|Minimum Initial Deposit||$1000 For a Standard Account |
$10,000 For Premium Account
$50,000 For Prime Account
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||Yes|
|Trading fees||High Fee Structure|
|Inactivity fee||Yes (Charges Quarterly Fee)|
|Withdrawal fee||It depends on Currency & Payment Methods|
|Supported currencies||EUR, USD, GBP, CHF, JPY, CAD, TRY, PLN, AUD SEK, NOK, XGD, SGD, HUF, CZK|
|Customer Support||Yes, via Live Chat, Email, Support Hub, Phone, & Education Resources|
Swissquote Group Holding Ltd is Switzerland’s leading provider of financial and advisory services in Switzerland, and it is listed on the SIX Swiss Exchange. The multi-asset broker operates two banks and has offices in different parts of the world, including Asia, the UAE, the UK, and Europe.
In this Swissquote review, we will discuss at length the platform’s features, services offered, regulations, pros and cons, trading and investment platforms, complex instruments, trading costs, types of accounts, and many more.
What Is Swissquote?
Swissquote was established in 2000 in London, and it is one of the leading banks in online financial and credit services. It is headquartered in Gland, Switzerland, with international offices in London, Bern, Zürich, Luxembourg, Dubai, Malta, Singapore, and Hong Kong. Swissquote is a Public Listed online broker. It is listed on the SIX Swiss Exchange as the Swissquote Group Holding Ltd, which is also listed on the SQN.
Unlike other similar brokers, Swissquote is regulated by some of the leading regulatory authorities, including the UK Financial Conduct Authority (FCA), Swiss Financial Market Supervisory Authority (FINMA), Dubai Financial Services Authority (DFSA), and Securities And Futures Commission (SFC).
Swissquote provides funds, derivative products, bonds, forex, CFDs, cryptocurrency and stock trading, Robo-advisory, and mortgage solutions. It has more than 330,000 users with easy access to more than 60 global stock exchange platforms that allow traders to trade 3 million products on their safe and reliable trading platforms.
Swissquote broker has two main arms – the Swiss branch offers stocks futures funds and options trading, whereas the UK entity only offers forex and CFD instruments. Swissquote has access to FSCS and Esisuisse funds protection, making this trading platform an excellent choice for investors and traders to trade forex and CFDs.
Swissquote User Experience
Swissquote’s website offers one of the best user experiences with its in-house trading platform, Advance Trader, MetaTrader platforms, and account types. The proprietary platform is entirely customizable. The user-friendly interface has a clean and attractive layout. The broker allows synthetic CFDs trading along with other financial instruments. Swissquote platforms have smart features which are mainly designed for automatic pattern detection.
This makes Swissquote one of the best brokers with advanced charting tools for beginners with minimal chart pattern analysis experience. The broker also offers an additional Robo-advisory service that has received positive customer reviews. Swissquote traders access 8 timeframes, 17 overlays, 27 different indicators, and complex market orders, including OCO (Order Cancels Other) and If Done. The platform also has a hedging feature that is mostly offered upon request.
Features of Swissquote
Negative Balance Protection
Swissquote offers negative balance protection and deposit protection of up to 8500 GBP if the company becomes insolvent. The multi-asset offering of negative bank account balance protection for trading CFDs and forex spot is only offered to retail investor accounts opened in the European Union. Non-EU and professional clients do not enjoy this feature.
Swissquote clients leveraged products capped at 30:1 for forex, 24:1 index CFDs and precious metals, 10:1 for commodities CFDs, and 5:1 for bonds. Higher leverage allows traders to employ their borrowed funds to raise their positions. It is highly recommended that traders use low leverages until they are completely confident in their investment strategy.
Swissquote customer service team operates five days a week from Monday to Friday between 8 AM to 8 PM (UK time). The support team is responsive and offers high-quality service with effective solutions on a wide variety of topics, including how to use platform APIs or retrieve forgotten passwords. The clients can contact the support team through different channels – email support, live chat, telephone support, or visit them at their office in the UK.
As per the Swissquote review and our research, we can say that the platform is regulated and authorized in the United Kingdom under the financial regulation of the Financial Conduct Authority (FCA) and reference number 562170. Like most best forex brokers, Swissquote also provides negative balance protection along with deposit protection of up to 8500 GBP. Within Swissquote MEA Ltd, several branches offer a range of financial services to institutional and retail clients from offices based in different regions, including Luxembourg, Malta, Dubai, Zürich, South Africa, Indonesia, and Hong Kong.
Swissquote has won several awards, including the Thomson Reuters Lipper Fund Award 2016 which declared the company one of the best-performing equity funds over three years. It also won the Best Swiss Online Broker Award in 2001.
Swissquote-regulated brokers offer more than 160 forex and CFD financial instruments on award-winning trading and investment platforms to more than 330,000 clients worldwide.
Services Offered by Swissquote
Swissquote offers a vast range of services that are highly recommended for any trader, irrespective of how much trading experience one has. Swissquote traders can make complex trading strategies under risky trading conditions with the help of Swissquote’s Expert Advisors (EA), basic tutorial videos, and low leverage in regular financial markets such as shares or forex.
The main barrier for most traders is the min. Deposit requirement, which is relatively high compared to the industry average. EU Swissquote forex traders prefer the Swissquote trading platform for its zero-commission trading accounts and lower spreads, even though they are unable to enjoy a broader range of instruments, markets, and payment methods on the Swissquote platform. Among the range of financial services offered by Swissquote, some of the main ones are mentioned below:-
- Trading Central Plug-in: Analyst views, daily market reports, adaptive convergence divergence, and many more.
- Auto Chartist Plug-in: Offers trade alerts, automated technical analysis, Event impact analysis, market volatility scanner, and many more.
- MetaTrader Master Edition Plug-in: Offers additional trading and non-trading features such as Stealth Orders, Correlation Matrix, Mini Terminal, Trade Terminal, and more.
Consumers choose from hundreds of copy trades or Expert Advisors from thousands of successful traders and investors. Strategical back-testing can also be performed. It offers over 130 trading market opportunities covering forex, indices, precious metals, bonds, and commodities.
Is Swissquote Regulated?
Unlike other brokers in the United Kingdom, Swissquote is regulated by some leading regulatory authorities, including the Swiss Financial Market Supervisory Authority (FINMA) and the UK Financial Conduct Authority (FCA). The company is also regulated by Dubai Financial Services Authority (DFSA), an extremely difficult license to obtain.
This proves that Swissquote LTD. is a safe and robust ECN broker with a banking license for all traders worldwide. In addition to this, the Swissquote trading platform is also regulated by the following regulatory entities – the Monetary Authority of Singapore (MAS), the Hong Kong Securities and Futures Commission (SFC), and the Malta Financial Services Authority (MFSA).
Note that different banks using the Swiss tag may not be regulated or licensed in Switzerland. Therefore, clients should be aware of such websites as they may be unsafe and unregulated. Confusion may arise since Switzerland is often synonymous with high confidentiality levels and client funds safety. Traders can always feel safe while depositing funds and trading with Swissquote because of the above-mentioned regulations.
Swissquote Review: Pros and Cons
|Several trading platforms, including MetaTrader 4/5 with advanced trading features.||Very limited funding options.|
|Good track record and a global brand.||High minimum deposit requirements.|
|Cryptocurrency (Bitcoin) and E-banking exchange services.||Limited range of financial instruments.|
|Crypto staking and lending.||ASIC does not regulate it.|
|It is regulated by multiple regulatory bodies, including FCA.|
Types of Swissquote Trading Platforms
Swissquote has designed the eTrading web-based platform with clear features and easily navigable sections and functionality. The interface looks slightly outdated, and many say that the platform is very Swiss-focused. For instance, the Swiss stock or financial markets are right at the top of Europe and the US. The platform is highly customizable to suit the various trading requirements of different clients.
The Swiss DOTS environment consists of more than 90,000 derivatives with different underlying, including indices, EFTs, equities, commodities, and exotic forex pairs. The clients at Swissquote using Swiss DOTS can choose from 19,000 Knockout Warrants, 55,000 Warrants, 1500 Factor Certificates, and 15,500 Mini features.
Another excellent trading platform unique to Swissquote market makers is themes trading. The ideas of themes investment and trading are built on a simple theme that includes:-
- Online gaming
- Global recycling
- 5G revolution
- Football fever
The past performance and the underlying portfolio of the structured product are documented efficiently at the Swissquote trading platform.
Swissquote provides mobile apps on which the Advance Trader platform is available. Traders can download and install the app on their Android and iOS smartphones. Both the mobile app and desktop platform support eight languages, and traders can easily move between the mobile apps and desktop version with easy access to sophisticated chart patterns and tools provided by Swissquote, real-time streaming quotes, complex order types, and other trading features.
Both MT4 and MT5 platforms are available on the app. This means that traders using automated trading strategies can use the same algorithms and analysis tools as they did on their PC. Swissquote clients also enjoy financial news, push notifications on mobiles, and the community chat features on the go.
Swissquote has a proprietary web platform, Advance Trader, that offers a customizable interface allowing traders to manage and arrange the layouts according to their requirements. The Advanced Trader platform has order management tools and other powerful built-in features. Traders using the Advanced Trader platform get exclusive access to market news, and the traders can switch with complete mobility between Web mobile or desktop versions.
Swissquote Metatrader 4
The award-winning forex trading platform, MetaTrader 4, is one of the most popular platforms in this industry preferred by all kinds of traders. The Swissquote MT4 platform is exclusively built for retail investors and traders with a beginner-friendly user interface. There is no tolerance level compared to other platforms. It offers fast trade execution with deep liquidity. The MetaTrader 4 platform can develop automated trading strategies with the help of Expert Advisors (EA). It also offers fast live quotes, iPhone/Android apps, and real-time charts. Thus providing a great user experience.
Swissquote Metatrader 5
As per Swissquote forex review, It also offers the MetaTrader software’s latest generation MetaTrader 5 (MT5) platform with all the MT4 features, extra trading options, and a distinct codebase. MetaTrader 5 also has a Master Edition, netting mode, and advanced charting support on iOS and Android devices. MT5 provides one-click forex and CFD trading services, real-time price quotes, social trading, copy trading, and extensive back-testing features.
|Features||Advanced Trader||Metatrader 4||Metatrader 5|
|Hedging Capability||Upon request||Yes||Yes|
|Complex Order Types||Yes||No||No|
|Customisable Trading Interface||Yes||No||No|
|Complex Order Types||Yes||No||No|
|Multi Account Manager (MAM)||Yes||Yes||No|
In addition to the above platforms that the developers at Swissquote offer, another solution is offered to the more advanced and sophisticated traders, FIX API. This API protocol can be developed directly into an online trading platform to access historical and real-time price quotes. This enables traders to execute trade orders through Swissquote. The API (application programming interface) enables traders to directly connect with the platform’s liquidity providers, making it faster and cheaper to trade CFDs and forex at Swissquote.
Market Instruments by Swissquote
With Swissquote Ltd. traders can seize all trading opportunities worldwide with their wide range of assets, including more than 400 forex and CFD market instruments, all from an all-in-one platform. Swissquote online banking portal gives traders access to the major stock exchange and the current financial information that traders require to trade the financial instrument of their choice.
The tradable instruments available at Swissquote are – Stocks, Themes investment and trading, ETFs, Swiss DOTS, Futures and Options, Funds, Bonds, Forex, CFDs, and cryptocurrencies.
Range of Trading Instruments
Swissquote offers several trading instruments across its Advanced Trader, MT4, and MT5 platforms. All in all, Swissquote offers over 400 financial instruments that can be grouped into the following classes:-
- Over 80 major, minor forex pairs and emerging currency pairs.
- 25+ stock indices such as CAC 40 and FTSE 100.
- 340 funds and around 13000 mutual funds.
- 3 bonds CFDs.
- 26 Stock index CFDs.
- 12 Commodity CFDs.
- 26 cryptocurrencies CFDs including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Stellar and Tezos.
Swissquote Account Opening Process
The account opening process at Swissquote is smooth and straightforward. Opening an account involves an easy online registration process. Opening an account Swissquote requires a video identification process that can be quite inconvenient to many clients.
To open an account with Swissquote, a new client needs to follow the steps mentioned below:-
- Go to the official website of Swissquote and click login/register.
- Enter personal information such as name, date of birth, a few data about the trader’s background such as occupation or country of residence.
- Answer simple questions about financial knowledge and experience.
- Thoroughly review the application before submitting it.
- Swissquote Broker requires mandatory identity verification that involves video identification or emailing national ID documents, a bank statement, a driving license, or any utility bill to open an account.
Note that video identification is applicable to both the UK and Swiss Bank entities. The waiting time to open an account and finally trade stocks, forex, and CFDs can be a lengthy process. Start trading once the account is verified and ready!
Types of Swissquote Accounts
There are four live trading accounts available at Swissquote and a free demo account for beginners who wish to experiment with the features and functionalities offered by the platform. The four live retail investor accounts are standard account, premium account, prime account, and professional account. The premium account is one of the most preferred Swissquote account types.
Note that the minimum deposit requirement of the standard account is $1000; for the premium account, it is $10,000; for the prime account, it is $50,000, whereas the minimum deposit requirement for professional accounts is volume-based which means it may vary depending on the trade volume. Here is a table of the features offered for each service count trading account:-
|Trading Account||Standard Account||Premium Account||Prime Account||Professional Account|
|Forex Spreads||1.7 pips||1.4 pips||1.1 pips||Custom spreads|
|Forex Commission||No Commissions||No Commissions||No Commissions||No Commissions|
|Minimum Deposit Requirement||1000 USD||10,000 USD||50,000 USD||Volume Best|
|Minimum Trade Requirements||0.010 Lot – 1000 CCY||0.10 Lot – 10,000 CCY||1 lot – 1,00,000 CCY||Custom|
|EA or Expert Advisors||Allowed||Allowed||Allowed||Allowed|
|In Activity Fee||10 account currency units (monthly)||10 account currency units (monthly)||10 account currency units (monthly)||10 account currency units (monthly)|
|Stop Out Level||30%||30%||30%||30%|
Swissquote Trading Tools
Swissquote trading and investment tools include:-
- Advanced Trader by Swissquote Bank Ltd
- MetaTrader 4 and MetaTrader 5 by MetaQuotes Software Corp
- One-Click trading
- Trade-off charts
- Market order
- Stop order
- Trailing stop order
- OCO order
- Limit order
- 24Hr trading
- Charting package
- Streaming news feed
Worth mentioning additional tools like autochartist, which has very few new and advanced features, offers information like risk metrics, chart patterns identification, and many more. For issues or questions regarding investment and trading tools, customer support is an essential part of the trading experience at Swissquote. Clients can instantly get in touch with the support team to resolve such issues.
Swissquote Leverage & Margin Requirements
As per our Swissquote review & research, leverage levels offered at Swissquote depend on the regulation or jurisdiction where the trading account is held. If the account is under the regulation of FINMA, Switzerland, the maximum leverage is 400:1, accounts regulated by DFSA enjoy leverage capped at 50:1 for best forex brokers in UAE, and FCA-regulated accounts enjoy maximum leverage of 30:1.
It is important to note that professional clients may enjoy significantly higher leverages of 200:1, but they may have to give away their rights to the funds’ compensation scheme that FSCS offers. For accounts under the regulation of MAS, the maximum leverage is 20:1 for the forex trading platform Singapore, whereas MFSA regulated accounts enjoy 30:1 leverage based on ESMA regulations.
The leverage level offered by any broker is correlated with the safety of the client funds. The EU and UK regulators usually have lower leverage, but a market maker benefits from better funds safety (€20,000 and €1,00,000, respectively). Swissquote brokers are an exception, offering leverage of up to 400:1 while maintaining a 100% funds guarantee.
Traders prefer depositing money with less regulated platforms because of leverages of a high degree. Swissquote Brokers solves this issue as the traders avoid the risks of trading and investing at a less regulated broker. In addition, compared to most brokers, Swissquote Europe and the UK offer compensation policies, arbitration, and consumer protection, making the platform an attractive choice for all.
- 30:1 for trading forex
- 20:1 for index CFDs and precious metals
- 30:1 for EU and UK clients
- 10:1 for commodities CFDs
- 5:1 for bonds
- 100:1 for professional traders
Note that clients need to deposit a minimum of $1000 to enjoy the maximum leverage ratios. Investments and trading carry high risk, and a market maker can lose more money that may exceed deposits.
Swissquote, like other competitor brokers in the same league, also takes spreads (difference between the buy and sell price). Swissquote pricing and transaction fees are relatively competitive. They offer 3-tiers of minimum spreads based on the trader’s initial deposit, which can act as a barrier to some traders and investors. The standard trading account size can be valued at up to $25,000 with an initial minimum deposit of $1000.
The spread difference between the Standard and Prime accounts is around 0.6 pips. Margin requirements remain the same irrespective of the trading account held by the traders. The commission-based Elite account has customized spreads with the exception of lower margin call threshold stop-out.
With the commission-free forex trading, the spreads at Swissquote start from 0.6 pips. Popular currency pairs like EUR/USD have spreads at around 1.3 pips, whereas both XAU/USD (Gold) and S&P 500 start from about 0.25 points. Other non-trading fees include inactivity fees of 10 currency units every month after an inactive period of six months, overnight swap charges, and an account maintenance fee.
There are crypto fees Swissquote Brokers charges that include commission and bid-ask spread (1% for CHF 10,000 trade volume, 0.75% for CHF 10,000– 50,000 trade volume, and 0.5% for over CHF 50,000 trade volume). Swissquote’s Robo-advisory fees vary depending on the invested amount, and they are somewhat high. A few brokers or stock exchanges charge 0.6% p.a., whereas Swissquote charges between 0.95% and 1.25%.
Regarding other fees such as stock fees and ETF fees, Swissquote charges high fees like high stock fees. Swissquote withdrawal fees and deposit fees are negligible compared to other competitive brokers.
Swissquote Deposit & Withdrawal Options
Swissquote Deposit Methods
Deposits at Swissquote Brokers can be made in 9 different base currencies through prepaid, credit, and debit cards, wire, or bank transfer. A minimum fee may be applied for certain payments depending on the banking service providers. Other than this minimum fee which may be applicable, clients still need to maintain the Swissquote minimum deposit of $1000 (or equivalent).
Swissquote Withdrawal Methods
The withdrawal methods can be processed from within the e-portal, and unlike payment methods for funding, money can be withdrawn from Swissquote only through bank transfer. The Swiss bank may charge a small fee for this.
Note that the processing times for withdrawals are instant for credit card payments (completed on the same day), while wire and bank transfers take about 1 to 3 working days to complete.
Swissquote Bonuses & Promotions
Swissquote does not offer any deposit or no deposit bonuses to its clients due to regulatory restrictions. The platform has come up with a dual referral bonus offer, explained in the following section.
Swissquote Referral Program
Swissquote gives full priority to its client’s satisfaction and needs to enhance their financial experience and boost their loyalty. To do this, Swissquote comes up with occasional promotions that guarantee the traders unique rewards and gifts upon fulfilling certain conditions. Although the platform offers no bonus offers, the sponsor–a–friend promotion or referral program seems to be quite a hit. This regulated and safe broker offers a “Refer a Friend” bonus which requires an existing Swissquote broker to sponsor a friend or family by referring them to the Swissquote platform.
Once the referred friend creates a trading account with Swissquote using the referral code sent by the referrer, both the referrer and the referee get a bonus amount credited to their accounts as per Swissquote review. Note that the bonus is credited only after the referred friend makes minimum deposits at Swissquote.
Swissquote Partnership Program
Swissquote affiliate program or partnership program is offered to those who wish to join the platform as franchise partners or sub-brokers. If a client becomes a partner or an affiliate under this Swissquote program, he can earn a maximum of 35% of the revenue share. To become a partner, there is no need to pay extra charges or fees to become a partner. Hence, anyone can become a Swissquote affiliate, free of any fee.
Note that Swissquote takes about 2 to 3 days to become a partner at Swissquote as it takes time to activate the code.
Another program that is quite popular at Swissquote is the Introducer Programme that follows a franchise model. Clients in this program can earn up to 20% of their deposits. The program involves a lower minimum deposit or initial deposit that the referred clients should make (between 100–499 EUR/GBP).
Once the deposit is made, the client receives 20% of the deposit amount. It takes 2 to 3 days for the code to activate for both affiliate and introducer models. The main mission of both models is to build long-term financial relationships with their referred clients and partners.
Resources Offered by Swissquote
Swissquote offers a rich research and education section that contains live analysis and a daily technical report on market insights. The education center comes with a collection of courses, webinars, e-books, free demos, and a magazine. It covers the basics of advanced trading techniques and how a broker can learn strategies while trading CFDs and forex.
Swissquote website contains above-par quality educational and knowledgeable tools like:-
- Tutorial videos supported on both MetaTrader 5 and Advance Trader platforms.
- Forex learning center with e-books, educational videos that focus on technical analysis, fundamental analysis, and risk management.
- Seminars and webinars in multiple languages.
In addition to this, the platform also offers free demo accounts and a Robo-advisory service, both of which are great features to learn more about Swissquote brokers.
Swissquote Supported Countries
Swissquote is available to all traders belonging to the following countries:-
- Australia (Not ASIC regulated)
- South Africa
- United Kingdom
- Hong Kong
- United Arab Emirates
- Saudi Arabia
- Luxembourg and many other countries
Note that the brokers at Swissquote accept traders only from the countries mentioned on their website. Traders from the United States are not allowed to trade at Swissquote.
Swissquote Security Measures
There is no denying that Swissquote is one of the most secure and reliable brokers in this industry, and the product has been in the marketplace for years with a wider range of financial services. The entities – UK entity and Swiss entity – offer the most professional and transparent trading conditions with high liquidity. These are the most notable features in Swissquote owing to the clientele who have greater expectations from the venerable tag name in Swiss banks.
Being regulated by four of the most popular and scrupulous regulatory bodies in the world, FCA, FINMA, DFSA, SFC, with an additional investor protection policy for its trading and investment audience (the European Union and the Rest of the World), the entire Swissquote entity is reliable and trustworthy.
The security, Swissquote MetaTrader, and Advance Trader platforms include encrypted SSL technology. Traders can also use other security measures like the touch ID, and the two–factor authentication (2FA) features to protect their funds. Lastly, it is important to note that Swissquote maintains a segregated bank account while depositing the funds of its clients. This means that the company cannot use the client funds for its purposes.
Swissquote Customer Support
Being multilingual, Swissquote supports various languages, including French, German, English, Italian, Spanish, Russian, Arabic, and Chinese. It has a double AA customer support rating as it offers more than three languages.
According to user reviews and Trustpilot reviews, the Swissquote customer support team is quite efficient and responsive. It is operational for 5 days from Monday to Friday, 8 AM to 8 PM (UK time). Trading hours for currency pairs are from Monday to Thursday, 12 AM to 12 PM. The trading hours vary for other assets or investment products; refer to the official web page & support hub for more information.
Traders with any queries regarding investment advice, investment recommendation, how the platform or CFDs work, its features and functionalities, or to retrieve forgotten passwords can get in touch with the Swissquote customer support team through the following channels:-
- Email support – [email protected]
- Telephone support – +44 20 7186 2600
- Live chat – Logo at the bottom corner of the official website
- Headquarters office – Boston House, 63-64 New Broad Street, London, EC2M 1JJ, United Kingdom
Swissquote Review: Conclusion
To sum up this Swissquote review, as a Swiss investment bank established in 2000, Swissquote has gained an enormous reputation in the financial circles across the globe by providing traders and investors with an impressive selection of services and products, including social trading. This is done in a protected manner with an investor compensation rule and advanced technology. EU clients under ESMA will not have access to most of the underlying investing and banking services that are relegated to CFD and forex trading at better prices.
Swissquote offers several broker platforms and stock exchanges with a range of distinctive comparative advantages, but most traders prefer trading with MetaTrader 4 and the Advanced Trader platform. With a good range of assets, a better pricing structure, and strict regulation under the leading regulatory bodies, Swissquote makes a good choice for both beginners and professional traders. One major drawback of the platform is it is high min. deposit requirement for the standard account and a smaller range of payment methods may make traders, who prefer lower costs, and lower entry requirements than other brokers, turn away from Swissquote.
Is Swissquote Safe and Legit?
According to this Swissquote review, it is a legit, low-risk, safe, and the best broker that is publicly traded and operates a regulated bank. Swissquote is authorized by 4 tier-1 regulators (high trust), one tier-2 regulator (average trust), and no tier-3 regulators (no trust). CFD and foreign exchange trading can be risky, and past performances do not guarantee future results.
Is Swissquote a Good Broker?
Yes, Swissquote is a publicly Listed, regulated broker in 4 tier-1 jurisdictions that makes forex and CFD trading extremely safe and low-risk. Swissquote has bagged many awards for the Best Banking Services.
Can Americans Use Swissquote?
No, traders from the United States of America are not allowed to trade at Swissquote.
How Do I Withdraw Money From Swissquote?
Swissquote offers only wire transfers for withdrawing money.
What Is the Minimum Deposit for Swissquote?
The minimum deposit requirement of Swissquote Standard, Premium, Prime, and Professional accounts are $1000, $10,000, $50,000, and volume-based, respectively.
Can I Withdraw Bitcoin From Swissquote?
Swissquote offers 26 cryptocurrencies for CFD trading, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and many more.
Does Swissquote Offer Islamic Accounts?
Yes, Swissquote provides an Islamic account by following Sharia law, prohibiting the rule of accumulating interests based on the principles of Islamic finance.
Risk Warning – CFDs are complex instruments, and trading involves risk of losing money rapidly due to leverage. 72% of the retail investor accounts lose money rapidly during CFD Swissquote trading. Only risk capital if you have a risk appetite and can afford to bear a high risk of losing your money. All data contained in this Swissquote review is for informational purposes or educational purposes and does not provide investment advice. Certain financial products may offer different leverages and have high market volatility and limited regulatory protection.