Swissquote Broker Review 2024

Last Updated: November 2024

8.5 / 10

Overall Rating

9 / 10

Investment Offering

9 / 10

Trading Platforms

7 / 10

Deposit & Withdrawal

9 / 10

Research & Education

7 / 10

Commissions & Fees

9.5 / 10

Regulation & Security

Investment Offering

Swissquote is a comprehensive online brokerage that provides a wide range of investment options, catering to both beginner and advanced traders. The broker offers access to multiple asset classes, including:

  • Stocks: Swissquote provides access to over 60 global stock exchanges, including major exchanges such as the NYSE, NASDAQ, LSE, and SIX Swiss Exchange. Traders can invest in thousands of stocks from companies worldwide, including blue-chip companies like Apple, Google, and Nestlé.
  • Forex: Swissquote is known for its strong forex trading platform, offering over 80 currency pairs, including major, minor, and exotic pairs. Examples include EUR/USD, GBP/USD, and USD/JPY, as well as less common pairs like USD/TRY and EUR/HKD.
  • Cryptocurrencies: The broker supports cryptocurrency trading with over 30 crypto assets, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). Traders can buy, sell, and hold cryptocurrencies directly through the platform.
  • Commodities: Swissquote offers CFDs on commodities such as gold, silver, oil (WTI and Brent Crude), and natural gas, allowing traders to speculate on price movements without owning the physical assets.
  • Indices: Traders can access CFDs on major global indices, including the S&P 500, NASDAQ 100, FTSE 100, and DAX 30. These indices enable traders to take positions on the overall performance of entire markets.
  • ETFs: Swissquote offers a broad range of Exchange-Traded Funds (ETFs) that cover various sectors, regions, and asset classes, providing a diversified investment option.
  • Options and Futures: The platform also supports trading in options and futures, giving traders access to advanced derivatives trading strategies.

Asset Classes & Trading Types: Swissquote supports multiple asset classes, with trading available through both direct market access (DMA) and Contracts for Difference (CFDs). Leverage varies depending on the asset class and region:

  • Leverage: For forex trading, leverage can go up to 100:1 for professional clients, while retail clients in regions like Europe are generally limited to 30:1 due to regulatory restrictions.

Notable Features:

  • Advanced Trading Tools: Swissquote offers a range of advanced trading tools, including Autochartist for automated technical analysis and MetaTrader tools for algorithmic trading.

Social Trading: Through partnerships, Swissquote allows for social trading, where traders can copy the strategies of experienced investors.

Commissions & Fees

Swissquote’s fee structure varies based on the type of account and the asset class being traded:

  • Stocks: Commission rates vary depending on the exchange and volume of the trade. For example, trading stocks on the SIX Swiss Exchange incurs a commission starting from CHF 9 for trades up to CHF 500, while larger trades incur a lower percentage-based commission.
  • Forex: Forex trading on Swissquote is commission-based for certain account types. Standard accounts typically offer commission-free trading with spreads starting from 1.1 pips for major pairs like EUR/USD. Premium accounts have tighter spreads starting from 0.8 pips with a commission of $5 per lot per side.
  • Cryptocurrencies: Swissquote charges a fee for cryptocurrency trading that typically ranges from 0.5% to 1% depending on the volume traded.
  • CFDs: CFD trading fees depend on the underlying asset. For example, indices like the S&P 500 have spreads starting from 0.5 points, while commodities like gold have spreads starting from 0.3 pips.
  • Options and Futures: Fees for trading options and futures vary depending on the exchange and contract size. Swissquote provides detailed fee schedules for these instruments on its platform.

Additional Fees:

  • Overnight (Swap) Fees: Applicable for positions held overnight, these fees vary based on the asset and the direction of the trade (long or short).
  • Inactivity Fees: Swissquote charges an inactivity fee of CHF 10 per month if no trading activity is detected over a 12-month period.
  • Withdrawal Fees: Swissquote charges withdrawal fees depending on the method. For example, bank transfers within Switzerland are free, but international transfers may incur fees starting from CHF 2.
  • Deposit Fees: Deposits are generally fee-free, though some international methods may incur charges.

Fee Comparison Summary: Swissquote’s fees are generally competitive for a premium broker, particularly for forex and stock trading. The commission structure is transparent, but traders should be aware of the additional fees, such as inactivity and withdrawal fees.

Region

Asset Class

Commission Structure

Additional Fees

Switzerland

Stocks (SIX Exchange)

CHF 9 for trades up to CHF 500, lower for higher volumes

CHF 10/month Inactivity Fee, Withdrawal Fees

Global

Forex

Spreads from 0.8 pips (Premium Account), $5 per lot

Swap Fees, Withdrawal Fees

Global

Cryptocurrencies

0.5% to 1% per trade

Withdrawal Fees

Global

CFDs (Indices)

Spreads from 0.5 points

Swap Fees, Withdrawal Fees



Deposit & Withdrawal

Supported Methods: Swissquote supports a variety of deposit and withdrawal methods, including:

  • Bank Transfers: Available for both domestic and international clients. Domestic transfers within Switzerland are typically fee-free, while international transfers may incur fees.
  • Credit/Debit Cards: Visa and Mastercard are accepted, offering fast processing times. However, fees may apply depending on the card issuer.
  • E-Wallets: Swissquote supports popular e-wallets like PayPal and Skrill, providing a convenient and fast way to deposit and withdraw funds.
  • Cryptocurrency Wallets: Swissquote allows deposits and withdrawals in major cryptocurrencies, catering to clients who prefer using digital assets.

Minimum Deposit Requirements: Minimum deposit requirements at Swissquote vary depending on the account type:

  • Standard Account: CHF 1,000 minimum deposit.
  • Premium Account: CHF 10,000 minimum deposit.
  • Professional Account: CHF 50,000 minimum deposit, designed for high-volume and institutional traders.

Withdrawal Processing Times:

  • Bank Transfers: Typically 1-3 business days for domestic transfers, 3-5 business days for international transfers.
  • Credit/Debit Cards: Usually processed within 1-3 business days.
  • E-Wallets: Generally processed within 24 hours.
  • Cryptocurrency Withdrawals: Processing times depend on blockchain confirmation, usually within 24 hours.

Conditions & Limitations:

  • Withdrawal Limits: No specific limits on withdrawal amounts, but high-value withdrawals may require additional verification.
  • Frequency: Withdrawals can be made as often as needed, with processing conducted daily.

Trading Platforms

Platform Offerings: Swissquote offers a range of trading platforms tailored to different types of traders:

  • Advanced Trader: Swissquote’s proprietary platform, designed for experienced traders. It features advanced charting tools, customizable layouts, and access to all asset classes. The platform also supports automated trading and offers real-time news and analysis.
  • MetaTrader 4 (MT4): A popular platform among forex traders, known for its reliability and extensive range of technical indicators. MT4 supports automated trading through Expert Advisors (EAs) and offers advanced charting tools.
  • MetaTrader 5 (MT5): The successor to MT4, MT5 offers additional features such as more timeframes, advanced order types, and an integrated economic calendar. MT5 is ideal for traders seeking a more comprehensive trading environment.
  • WebTrader: Swissquote’s web-based platform provides access to trading from any browser, without the need to download software. It offers essential trading tools and is ideal for traders who require flexibility.
  • Mobile Apps: Swissquote provides mobile apps for iOS and Android, offering full access to trading, account management, and real-time market data.

Platform Features:

  • Charting Tools: All platforms offer advanced charting tools with multiple timeframes, drawing tools, and a variety of technical indicators.
  • Order Types: Supports various order types, including market, limit, stop-loss, and trailing stop orders.
  • Algorithmic Trading: Both MT4 and MT5 support automated trading strategies through EAs, while Advanced Trader offers similar capabilities with custom scripts.
  • Risk Management Tools: Features like one-click trading, margin calculators, and stop-loss orders are available across all platforms.

User Experience and Reliability: Swissquote’s platforms are known for their stability and reliability, with fast execution speeds and minimal downtime. The user experience is generally smooth, with intuitive interfaces across all platforms, making them accessible to both beginners and experienced traders.

Research & Education

Educational Resources: Swissquote provides a robust range of educational resources suitable for traders of all levels:

  • For Beginners: The broker offers video tutorials, webinars, and articles covering the basics of trading, platform usage, and risk management. There are also interactive trading courses available.
  • For Advanced Traders: Swissquote provides in-depth webinars on topics such as technical analysis, advanced trading strategies, and market psychology. The broker also offers detailed market insights and analysis from industry experts.
  • Webinars & Seminars: Regular webinars are held on a variety of topics, ranging from beginner trading concepts to advanced market analysis. Swissquote also hosts occasional seminars for in-depth learning.

Research Tools:

  • Market Analysis: Swissquote offers daily and weekly market reports covering key markets like forex, commodities, and indices. These reports provide insights into market trends, potential trade setups, and economic events.
  • Economic Calendar: The platform includes an economic calendar that highlights significant economic events and their potential impact on the markets.
  • Third-Party Research: Swissquote integrates with Autochartist and Trading Central, providing automated technical analysis and trade ideas.

In-House Analysis: Swissquote produces regular in-house analysis, focusing on both technical and fundamental aspects of the market. This research is valuable for traders looking to stay informed on market developments and potential trading opportunities.

Mobile Trading

Swissquote’s mobile trading apps offer a full suite of features, ensuring traders can manage their accounts and execute trades from anywhere:

  • Charting Tools: The mobile apps include robust charting capabilities with multiple timeframes, drawing tools, and various technical indicators.
  • Order Execution: Supports various order types, including instant execution, limit orders, and stop-loss orders.
  • Account Management: Traders can monitor their portfolios, view account balances, and manage funds directly from the mobile app.
  • Notifications: Push notifications are available for price alerts, order execution, and other important account events.

User Experience: The mobile apps are designed with a user-friendly interface, making them accessible for traders of all experience levels. They mirror the functionality of the desktop platforms, ensuring a seamless trading experience across devices.

Regulation & Security

Regulatory Bodies: Swissquote is a well-regulated broker, holding licenses from several top-tier financial authorities:

  • Switzerland: Regulated by the Swiss Financial Market Supervisory Authority (FINMA), providing strong investor protections, including segregated client funds.
  • United Kingdom: Regulated by the Financial Conduct Authority (FCA), which ensures compliance with strict regulatory standards and offers investor protection through the FSCS.
  • European Union: Swissquote operates under the regulations of the Cyprus Securities and Exchange Commission (CySEC) for its European operations, ensuring compliance with European financial laws.

Investor Protection Schemes:

  • Switzerland: Client funds are protected under Swiss banking regulations, with funds held in segregated accounts.
  • United Kingdom: Clients are covered under the Financial Services Compensation Scheme (FSCS), which provides protection up to £85,000.
  • Europe: Clients under CySEC regulation are protected up to €20,000 through the Investor Compensation Fund (ICF).

Platform Security: Swissquote employs robust security measures to protect client funds and personal data:

  • Encryption: All data is encrypted using advanced SSL technology, ensuring secure communication between clients and the broker.
  • Two-Factor Authentication (2FA): Available on trading platforms to add an extra layer of security.
  • Segregated Accounts: Client funds are held in segregated accounts with top-tier banks, ensuring they are not used for the broker’s operational activities.

Contracting Entity: Swissquote operates different entities depending on the region:

  • Switzerland: Swissquote Bank Ltd.
  • United Kingdom: Swissquote Ltd.
  • European Union: Swissquote Financial Services (Malta) Ltd. for EU clients, regulated by CySEC.