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FOREX.com vs Swissquote 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between FOREX.com and Swissquote? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FOREX.com ranks more highly than Swissquote.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating expand_moreexpand_less FOREX.com Swissquote XTB
Overall Rating 8.7 / 10 8.5 / 10 8.7 / 10
Account Type expand_moreexpand_less FOREX.com Swissquote XTB
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account Yes Yes Yes
Copy Trading expand_moreexpand_less FOREX.com Swissquote XTB
Social Trading / Copy Trading No Yes Yes
DupliTrade No No No
ZuluTrade No No No
Cryptocurrency expand_moreexpand_less FOREX.com Swissquote XTB
Cryptocurrency (Physical) No Yes No
Cryptocurrency (CFD) Yes No Yes
Bitcoin Yes Yes Yes
ethereum Yes Yes Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less FOREX.com Swissquote XTB
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less FOREX.com Swissquote XTB
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less FOREX.com Swissquote XTB
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting No No No
Social Trading / Copy Trading No Yes Yes
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes Yes Yes
ETF Yes Yes No
U.S. Stocks (CFD) Yes Yes Yes
Trading Platforms expand_moreexpand_less FOREX.com Swissquote XTB
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes
MetaTrader 5 (MT5) Yes Yes No
Regulatory Licenses expand_moreexpand_less FOREX.com Swissquote XTB
Tier-1 Licenses 4 4 1
ASIC Authorised (Australia) No No No
IIROC Authorised (Canada) Yes No No
FCA Authorised (U.K.) Yes Yes Yes
SFC Authorised (Hong Kong) No Yes No
MAS Authorised (Singapore) No Yes No
FINMA Authorised (Switzerland) No Yes No
CFTC Registered (USA) Yes No No
Tier-2 Licenses 2 1 3
Tier-3 Licenses 1 0 1
Research, Education expand_moreexpand_less FOREX.com Swissquote XTB
Trading Central (Recognia) Yes Yes No
Forex News (Top-Tier Sources) Yes Yes Yes
Daily Market Commentary Yes Yes Yes
Autochartist No Yes No
Investor Dictionary (Glossary) Yes Yes No
Videos - Beginner Trading Videos Yes Yes Yes
Client Webinars (Archived) No Yes Yes
Trading Costs expand_moreexpand_less FOREX.com Swissquote XTB
Minimum Initial Deposit $100 $1000 $0
Average Spread EUR/USD - Standard 1.1 (US August 2021) N/A 0.9 (Q3 2021)
All-in Cost EUR/USD - Active 1.1 (US August 2021) N/A 0.9 (Q3 2021)
Active Trader or VIP Discounts Yes Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) Yes Yes Yes
Trading Tools expand_moreexpand_less FOREX.com Swissquote XTB
Watchlists - Total Fields 18 7 8
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 139 49 39
Mobile Charting - Indicators / Studies 88 30 39
Trust Factors expand_moreexpand_less FOREX.com Swissquote XTB
Year Founded 1999 1996 2002
Publicly Traded (Listed) Yes Yes Yes
Bank No Yes No
Authorised in European Union Yes Yes Yes
Trust Score 99 99 95
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FOREX.com vs Swissquote Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FOREX.com vs Swissquote.

Can I trust FOREX.com?

FOREX.com has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust Swissquote?

Swissquote has a trust score of 99, giving it a "Highly Trusted" trust label.

Is FOREX.com a good broker?

Is Swissquote a good broker?

Swissquote is a highly-trusted broker, offering a significant range of markets from within its in-house platform suite. It's worth noting that Swissquote's pricing is more expensive than what you'd find with low-cost brokers, and its forex account offers far fewer markets โ€“ including on MetaTrader โ€“ than Swissquote's eTrading account for share dealing.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FOREX.com is IIROC Authorised (Canada), FSA Authorised (Japan), FCA Authorised (U.K.) and CFTC Registered (USA), while Swissquote is SFC Authorised (Hong Kong), MAS Authorised (Singapore), FINMA Authorised (Switzerland) and FCA Authorised (U.K.)., neither have ASIC Authorised (Australia), CBI Authorised (Ireland) and FMA Authorised (New Zealand)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FOREX.com is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE), while Swissquote is DFSA / Central Bank Authorised (UAE)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses FOREX.com is CIMA Authorised (Cayman Islands), while Swissquote is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

Both FOREX.com and Swissquote offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does FOREX.com offer MetaTrader? Does Swissquote offer MetaTrader?

Both FOREX.com and Swissquote offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If youโ€™re new to MetaTrader 4 hereโ€™s our educational guide on how to use MT4.

How do FOREX.com and Swissquote differ in terms of minimum deposit? What about average spreads and funding options?

FOREX.com requires a minimum deposit of $100, while Swissquote requires a minimum deposit of $1000. From our testing we found FOREX.com offers spreads of 1.1 (US August 2021), while Swissquote offers spreads of N/A. FOREX.com supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where Swissquote supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, FOREX.com or Swissquote?

FOREX.com offers a more diverse selection of investment options than Swissquote allowing you to trade Forex Trading, Trading - Forex or CFDs, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, FOREX.com has 5500, compared to 466 from Swissquote.

Can I trade cryptocurrency with FOREX.com or Swissquote?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither FOREX.com nor Swissquote allow you to trade physical cryptocurrencies.

Who offers more research tools, FOREX.com or Swissquote?

In terms of research and research tools FOREX.com gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison Swissquote has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.




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