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Swissquote Broker Review

Review By: Alan LittleReview Updated: 2021-03-11

Address: Swissquote Bank SA Registered Office: Chemin de la Crétaux 33, P.O. Box 319,1196 Gland. - Swissquote Ltd. Registered Office: Boston House, 63-64 New Broad Street, London, EC2M 1JJ.

forexetfstockscfdcryptocommodities

Spread

1

Max. Leverage

1:300 Pro

Deposit Protection

£50,000

Min. Deposit

£100

Spread

1

Max. Leverage

1:300 Pro

Deposit Protection

£50,000

Min. Deposit

£100

Spread

0.6

Max. Leverage

1:300 Pro

Deposit Protection

£50,000

Min. Deposit

£100

Spread

Max. Leverage

Deposit Protection

Min. Deposit

Spread

1

Max. Leverage

1:30

Deposit Protection

£50,000

Min. Deposit

£100

Spread

1

Max. Leverage

1:300 pro

Deposit Protection

£50,000

Min. Deposit

£100

Our Overall Rating

Rating4.2

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to risk losing your money.

 

The emergence of Swissquote in 1990 complemented the Swiss financial system’s long-standing reputation for reliability and trustworthiness. The bank, which is also a broker, started in life as Marvel Communications SA and took the bold step to democratise access to financial markets by setting up a user-friendly and innovative online trading platform.

Swissquote has maintained its appetite for pushing boundaries and today offers one of the most comprehensive trading / investing platforms on the market. Its retail, institutional and private banking clients still benefit from the Fin-tech pedigree of the firm and its ground-breaking willingness to provide access to the markets in which investors want to invest. The multi-asset opportunities are all wrapped up in the security of Swissquote being a fully regulated bank.

Our Swissquote review will take an in-depth look at the features of this broker, from fees and charges to the choice of available trading platforms. This review aims to help you identify if Swissquote is the best broker for you, given your trading objectives.

The brokerage is fully regulated by the Commission de Surveillance du Secteur Financier (CSSF) and the Financial Conduct Authority (FCA). The broker has a broad range of tradeable instruments available, including FX, CFDs, stocks, indices, ETFs, mutual funds, commodities and cryptocurrencies, with access to more than 20 stock exchanges worldwide. Leverage of up to 1:30 is available on CFD instruments and forex.

The broker has a range of features that will appeal to both new and more experienced traders. Its on-site education portal is of particular interest to beginner traders, and the platform is generally straightforward to navigate. There is a choice of account types, including an option to open a Smart Portfolio, allowing traders to be relatively ‘hands-off’, with trading managed according to a risk profile selected by the client. Traders with Swissquote also have access to Trading Central, a source of helpful trading signals that help clients develop and manage their trading strategies by providing important real-time market data. Swissquote is a well-respected and popular firm within the global financial services sector, serving 390,000 clients worldwide.

Commissions & Fees

Rating

Swissquote pricing can be a little complicated, as it varies according to the asset class being traded and the type of account held. However, it is also highly transparent, with all costs laid out on the website and very few hidden charges. The broker operates a zero-commission model on forex and CFD trading. All profits come from the spreads, which vary according to the instruments being traded but start at 0.8 pips for popular forex pairs on Prime accounts. Premium accounts are the most popular choice for trading forex and CFDs, and holders of this account type can expect spreads starting at 1.0 pips, whereas Standard account holders are offered spreads from 1.5 pips.

With other instruments, there will be commissions and trading fees involved. When trading stocks and ETFs, charges start at 0.1%, or €14.95 per trade, on all markets. There is an annual management fee for mutual funds, which can be reduced by up to 50% if you decide to invest in selected ‘Clean Funds.’

There are no custody fees for mutual funds, and Swissquote’s convenient multi-currency account (with access to 22 fiat currencies) means that currency conversion fees can be kept to a minimum. Smart Portfolios have a different set of charges, with annual account costs amounting to between 0.40% and 0.90% depending on the size of your portfolio. In addition, there will be a product fee of between 0.54% and 0.94%, depending on the type of risk profile chosen. The portfolios do not incur entry and exit fees, redemption fees, custody fees, or any trading or transaction fees.

There are always a few ‘hidden extras’ when trading online with any broker, but Swissquote keeps them to a minimum. There is no account maintenance fee on active accounts, though an account fee of €15 a month will apply if you do not trade at all in a given month. An inactivity fee of €100 applies if your account is dormant for two years. That increases in subsequent years if the account is not closed or reactivated. There are no broker-levied deposit or withdrawal fees, though your bank may charge a transaction fee and a currency conversion charge if your trading account is in a different currency from your bank account. Please remember that a broker’s fees and charges are subject to change, sometimes at short notice, so that other fees may apply to your account not mentioned in this Swissquote review.

Swissquote Trade Forec & CFDs

Platforms & Tools

Rating

Swissquote offers a choice of trading platforms depending on the instrument being traded. If you are trading forex and CFD instruments, you will have access to the award-winning MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. They come with a variety of built-in trading tools and technical indicators and the facility to integrate with various third-party applications. These platforms offer a great deal of flexibility and convenience, facilitating a wide variety of trading styles and techniques.

Swissquote also has its proprietary eTrading platform, which is used for trading other instruments. The broker provides access to over 100,000 financial products via this single platform. It is robust and intuitive, with a customisable workspace and a range of convenient features, such as a quick search function to locate any available instrument instantly, customisable watchlists to monitor the instruments you are interested in and a comprehensive market overview section.

Another fully integrated part of the Swissquote trading experience is the Trading Central software, also available to all clients and designed to keep traders updated with real-time market data across multiple asset classes. Swissquote also provides all the technical indicators and charting tools you would expect from a reputable brokerage, including Autochartist. There are also educational resources and market analysis tools.

MARKETS

Swissquote is a multi-asset brokerage offering a broad range of instruments in multiple asset classes across all markets. Around 130 forex currency pairs are available to trade, including major and minor pairs and some exotic pairs. The broker also offers 12 cryptocurrencies, including Bitcoin, Ethereum and Litecoin, and other digital assets. CFDs are available, providing potential exposure to stock indices, commodities and bonds. Other accessible markets via

Swissquote include single stocks, ETFs and mutual funds. To allow for plenty of diversification of your portfolio, the company offers access to over 20 global stock exchanges, with a potential to invest in around three million products, including more than 20,000 ETFs and over 2,000 low-cost ‘Clean Funds’ from major asset management companies.

When it comes to trading stocks, Swissquote customers can trade in leading companies from Europe, North America and the Asia-Pacific region, with access to the NYSE, NASDAQ, LSE, ASX and many other global exchanges. As well as single stocks, clients may choose to trade stock indices, with several major US and European indices available as CFDs. A stock index simply measures a group of stocks and aims to reflect the performance of the related economy. ETFs on offer include a wide selection from world-renowned asset management companies such as BlackRock and iShares. For those unfamiliar with ETFs, these funds are a basket of securities bundled together and traded as a single instrument to allow for a more diversified investment profile.

Customer Service

Rating

Swissquote offers customer support options, including email, phone and live chat. The broker also maintains active social media accounts on several channels, giving clients a quick and convenient way to get in touch. New and existing clients can access all available customer support channels. The broker provides a wealth of information for customers across the website, including a FAQ page, which answers commonly asked questions regarding products available, costs and charges, and account management.

Swissquote also provides resources for its clients in the form of an education centre. It is easily accessed via the website and provides eBooks, online courses, video tutorials and free demos. The resources cover general trading skills, chart patterns and technical analysis, and risk management. There are also specific resources to support clients as they learn to use the eTrading platform. A User Guide to the platform can be downloaded from the education centre for easy reference.

 

Research

Rating

Swissquote provides clients with market news, research, analysis and an array of learning materials to help them with their trading activities. The research section can be found under the ‘Newsroom’ tab on the Swissquote website. That is where you can access constantly updated daily news articles relevant to the global financial markets, with in-depth analysis and exclusive insights on a range of markets and issues. You will also find the Swissquote magazine, with detailed interviews and in-depth articles on key market players worldwide. You can read the magazine online or order a print copy delivered six times a year.

MT4 and MT5 clients also have access to the Trading Central plugin, which provides traders with technical and market analysis, including a Daily Market Report. The separate education portal provides a range of learning resources that include market analysis, trading psychology, risk management, and other topics that will help clients analyse the available research and apply it to their daily trading strategies.

Swissquote Tools & Research

Ease of Use

Rating

Swissquote is a high-quality, multi-asset brokerage, and the platform is generally easy to use. The website is clean, clear and user-friendly, with all relevant information clearly displayed and easy to find. Setting up an account is straightforward, and the entire process is carried out online. Simply register with the broker, and you will get clear instructions on how to get your account opened, set up and funded. The only thing that may be a little confusing is choosing your platform. It is not immediately obvious, but those trading forex and CFD instruments will be using the MT4 or MT5 platform. Other traders will use the main eTrading platform.

In our opinion, the Swissquote platforms are pretty intuitive and easy to navigate. Most traders will be able to find their way around with ease. A very comprehensive user guide is available, along with short explanatory videos and free demos, which makes getting started easier than with many other brokers. The education centre is also very easy to navigate and is helpful to less experienced traders, and the daily market news and trading signals make life easier for Swissquote customers. For some traders, one very positive feature of this brokerage is the option to access various markets and trade in different asset classes. There is an excellent choice of instruments, especially for forex pairs, and unlike many brokers, crypto trading is also available. This makes the trading experience easier for multi-asset traders at all levels.

Mobile Trading

Rating

Mobile trading is a feature that online traders worldwide are finding increasingly important. Whether you want to trade on the go all day, every day, or simply have access to your trading account on the rare occasions you are away from your desk; mobile trading is the answer. Swissquote is dedicated to providing it.

The Yuh app takes things one step further, and as well as facilitating investment and trading, it also supports everyday payments. The Mobile app is available for both iOS and Android devices and is available to download free from the App Store and Google Play.

Customers will be happy to find that the mobile apps have almost all the same features as the desktop platform, including easy access to technical analysis and charting tools, detailed real-time financial information, and price notifications.

The apps provide traders with an easy-to-customise, personalised interface and work well, incorporating all of the essential functions that mobile traders will need to access. As with any trading apps, clients will need to get used to the different layout and navigation options, but the apps certainly compare well with similar offerings from other brokers.

Robo Trading

Swissquote offers a robo-advisory account for those traders who prefer to automate their trading activities. The Swissquote robo-advisor software, QAM, is built on an award-winning algorithm designed and created to support high-net-worth institutional clients. It’s possible to build a bespoke investment portfolio based on your preferences and then monitor it 24 hours a day, seven days a week.

To set up a robo trading account, you will need to set the parameters by which you wish to trade. You will choose the level of risk you are comfortable with, and if you want, the types of securities and locations in which you want to invest. The robo-advisor does the rest. There is also an option to compare the strategy you have chosen with other methods and to change your system at any time. The robo-advisor will generate a new portfolio based on your changes. Swissquote offers a risk-free robo-advisory demo account using virtual money so that you can test potential strategies in realistic market conditions before committing to a live robo-advisor account.

Crypto Currency

There are various cryptocurrencies and other crypto-assets available to trade at Swissquote. As most traders will be aware, digital currencies are highly speculative investments with high volatility and inherent risk. However, if you plan to trade in this asset class, this broker allows you to do so easily, with more than 20 cryptocurrencies available, including Bitcoin. As with other assets, pricing is transparent, with a transaction fee of between 0.5% and 1% charged, according to volume. With cryptocurrencies, there are no deposit fees for deposits equivalent to $500 or more and a flat fee of $10 on deposits of less than this. There is also a $10 withdrawal fee. No custody fees, stamp or stock exchange tax is charged on cryptocurrencies.

Swisstrade Crypto Trading

Regulatory details

Swissquote is fully regulated and licensed by the Commission de Surveillance du Secteur Financier (CSSF), under the oversight of the European Central Bank. Therefore, the firm is also governed by the Markets in Financial Instruments Directive (MiFID). This European regulation aims to increase transparency and standardise regulatory disclosures required for financial services firms that operate within the EU. Swissquote Ltd is authorised and regulated by the Financial Conduct Authority (FCA) regarding its operation in the UK. Swissquote Bank Europe has full bank status and is an AAA-rated financial centre renowned for investor protections. A custodian holds client assets securely, and cash funds of up to €100,000 are protected.

Final Thoughts

Our Swissquote review has found this firm a reliable, well-regulated broker with a good range of assets, transparent pricing, and a high-quality platform. The brokerage offers a range of forex pairs, a variety of CFD instruments, cryptocurrencies, and other assets. The proprietary eTrading platform is straightforward and intuitive, and trading and investing at the same place is highly convenient.

Mobile trading is available, along with robo-advisory services and a range of advanced trading tools. The broker is fully licensed and regulated and offers excellent client protection. There are disadvantages with any broker, of course. At Swissquote, we found the minimum deposit amounts relatively high and deposit methods very limited. There is also a monthly fee on inactive accounts.

Swissquote is a reputable, versatile, and competitive brokerage. Its reputation for pushing boundaries on behalf of its clients started in 1990 and still applies. The firm has the pedigree of a regulated Swiss bank and, at the same time, the approach of a fin-tech firm. If you can stomach the high minimum balance requirements, it’s definitely worth trying out.

FAQ

Our Swissquote review gives you the most up to date appraisal. We have tested all aspects from trade to platforms for your peace of mind.

Is Swissquote a regulated broker?

Swissquote Ltd is authorised and regulated in the United Kingdom by the Financial Conduct Authority under reference number 562170. Swissquote Group Holding Ltd was created and listed on the SIX Swiss Exchange in May 2000, and the firm is also listed on the New York Stock Exchange.

How can I open a Demo account with Swissquote?

Demo accounts at Swissquote are free to set up and can be opened at the click of a button on the Swissquote website. It takes just a few steps to set up an account and try out trading using virtual funds.

How do I withdraw money from Swissquote?

To withdraw funds at Swissquote, simply log on to the ePortal platform and build an instruction in the Account Management section of the site. For security reasons, instructions have to be submitted into that core area of the site. Emails and other message types are not accepted.

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