CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE. 79% 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 TAKE THE HIGH RISK OF 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.
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 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.
Mobile Trading App
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.
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 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.
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.
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