Swissquote review
Highlights: Founded in 1996, Swissquote has quickly become one of the most prominent financial services and online trading platforms in Switzerland. It focuses on continuous technological innovation. Swissquote is one of the world’s top 10 online brokers that provide foreign exchange (forex) trading services to institutional and private investors. It enables them to trade a […]
Highlights:
- Swissquote is subject to the authorization and supervision of 7 tier 1 regulators and one tier 2 regulator. In addition, being listed on a major stock exchange, the bank has been proven to be trustworthy and transparent.
- Swissquote’s retail accounts are free of commissions, but they have higher than average spreads, which makes them underperform compared to the industry average.
- Traders have a choice between the renowned MetaTrader 4&5 and the superior Swissquote Advanced Trader for the implementation of more complex strategies. The seamless Autochartist and Trading Central tools are also integrated into Swissquote.
- Investors and professional traders can access more than 3 million assets, while retail accounts offer over 400 tradable instruments. Although the retail accounts do not include cryptocurrencies, this is above the industry average.
- You can make payments by bank transfer or credit/debit card to and from a Swissquote account. Depositing is free, but withdrawing may be subject to third-party fees.
- Swissquote offers extensive research and educational resources on subjects ranging from new market structures to more abstract market trends.
- By phone, e-mail or live chat, Swissquote’s customer support is available 24 hours a day, 7 days a week.
Founded in 1996, Swissquote has quickly become one of the most prominent financial services and online trading platforms in Switzerland. It focuses on continuous technological innovation.
Swissquote is one of the world’s top 10 online brokers that provide foreign exchange (forex) trading services to institutional and private investors. It enables them to trade a wide variety of commodities and currencies.
As a regulated bank, Swissquote Bank provides its partners and traders with the best possible security and transparency. It also offers its clients with a variety of educational resources and trading tools.
Swissquote Details
| Company Name | Swissquote Group Holding Ltd, Swissquote Bank Ltd, Swissquote Ltd, Swissquote MEA Ltd, Swissquote Asia Ltd, Swissquote Financial Services (Malta) Limited |
| Country | Switzerland |
| Year Open | 1996 |
| Headquarters | Switzerland |
| Offices | Hong Kong, Switzerland, United Arab Emirates, United Kingdom |
| Employees | 600+ |
| License | FINMA, FCA UK |
| Regulatory Authorities | FINMA, DFSA, MFSA, SFC, FCA UK |
| USA Clients | No |
| Japanese Clients | Yes |
| European Clients | Yes |
| Canadian Clients | Yes |
Regulatory Authority
| Agency | Swiss Financial Market Supervisory Authority |
| Short Name | FINMA |
| Country | Switzerland |
| Min Capitalization | CHF 10,000,000 |
| Government Enforced Segregated Accounts | Yes |
| Description | FINMA performs its supervisory activities for the benefit of the Swiss financial centre, as well as investors, creditors and insured persons.The primary objective of financial market supervision is to ensure the proper functioning of the financial markets and to protect clients as a group against insolvency. |
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| Agency | Dubai Financial Services Authority |
| Short Name | DFSA |
| Country | United Arab Emirates |
| Min Capitalization | N/A |
| Government Enforced Segregated Accounts | Yes |
| Description | Economic activity of a free target-oriented zone in Dubai is regulated by the DFSA.Management of resources and securities, execution of banking and trust services, Islamic finance, exchange of international equities and derivatives, as well as insurance matters fall within the competence of the DFSA.Activity of DFSA is based on a principle of risk-related regulation and avoidance of unnecessary regulatory implications. Besides, the agency made it clear that the obligations liable to fulfillment should comply with optimization of risks in order for such obligations to be successfully met.Under the circumstances, the priorities include generation of a cycle of risk optimization that aims at identification, evaluation and assessment of risks in order to enhance local and international markets and their patterns.According to DFSA, the reality of efficient risk-based regulation is more important than the way of its achievement. |
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| Agency | Malta Financial Services Authority |
| Short Name | MFSA (MiFID) |
| Country | Malta |
| Min Capitalization | EUR 730,000 |
| Government Enforced Segregated Accounts | Yes |
| Description | MFSA is the single regulator for financial services activities in Malta. It regulates and supervises credit and financial institutions, investment, trust and insurance business and also houses the country’s Companies Registry.The MFSA issues guidance notes, monitors local and international developments, works with relevant parties on legislative matters, and plays a major role in training. It encourages high standards of compliance and runs a consumer complaints unit. |
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Account Options
| Account Types | Standard, Premium, Prime, Professional, FIX API |
| Min Deposit | 1,000 USD |
| Max Leverage | 30:1 for EU clients, 400:1 for Professional and Non-EU clients |
| Min Trade Size | 0.01 Lots |
| Max Trade Size | No limit |
| Spreads | Swissquote Spreads |
| Spread Types | Variable spreads |
| FX Pricing Decimals | 5 |
| Commission | None |
| Rollover (Swaps) | Swissquote Rollover (swaps) |
| VPS (Virtual Private Server) | No |
Trading Options
| Execution Options | STP/ECN |
| Instruments | Forex, Metals, Commodities, Indices, Bonds, Options |
| OCO Orders | Yes |
| Trailing Stops | Yes |
| One Click Trading | Yes |
| Scalping Allowed | Yes |
| Hedging Allowed | Yes |
| News Trading Allowed | Yes |
| Expert Advisors Allowed | Yes |
| Islamic Accounts | Yes |
| Copy Trading | No |
Swissquote Pros Cons
| Top-tier regulations in multiple jurisdictions Access to deep liquidityOver 3 million instruments Professional platform and great supporting toolsDeep and rich content | High spreadsHigh minimum deposit requirement |
