image FXCM VISIT FXCM image Swissquote VISIT SWISSQUOTE image IG VISIT IG
About

FXCM is regulated by the Financial Conduct Authority and NFA. FXCM have provided Forex trading services since 1999.

Swissquote is regulated by FINMA (Swiss Financial Market Supervisory Authority). Swissquote have provided Forex, Commodities, Indices, Stocks, Bonds trading services since 1999.

IG is regulated by the Financial Conduct Authority and ASIC. IG have provided forex, spread betting, CFD, and stock trading services since 1974.

Why choose them?
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
Headquarters NY, USA Chemin de la Cretaux 33, 1196 Gland, Switzerland London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting Yes No Yes
Social Trading Yes Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 39 138 90
Commodities Offered 0 7 34
Stocks Offered 0 0 8000
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No Yes Yes
Penny stocks No Yes No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes Yes
Dow Jones No Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs No No Yes
IPO No No Yes
See all instruments

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

Losses can exceed deposits

See all instruments

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No Yes No
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade Yes Yes No
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms No eTrading ProRealTime & L2 Dealer

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes No
Available Languages

English, Italian, Spanish, German, Russian, French, Portuguese, Hebrew, Arabic, Chinese, Japanese, and Urdu

English, German, French, Italian, Spanish, Arabic, Russian, and Chinese

English, French, German, Spanish, and Portuguese

See platform & features

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

Losses can exceed deposits

See platform & features

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by FXCM and Swissquote

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No No No
Standard account Yes Yes Yes
ECN Account No No No
Islamic account Yes No No
Zero spread account No No No
VIP account No No Yes
Fixed spreads No Yes No
Variable spreads Yes No Yes
See account options

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See account options

Losses can exceed deposits

See account options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No Yes
Direct market access No No Yes
STP broker Yes No Yes
Market maker Yes Yes No
Min trade Varies Varies £1
Max trade Varies Varies Variable
Min deposit $1 1,000 $250

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No No No
Skrill No No No
Payment processing time 1 business day 1 business day Varies
Withdrawal processing time 1-2 business days 1 business day Varies
See all funding options

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

Losses can exceed deposits

See all funding options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

DETAILED INFO

Excluded countries US US BE,FR,IN,IL,PL,ZW
Contact email Send Email Send Email Send Email
phone number +44 02073984050 41 22 999 94 11 44 20 7633 5300
Live Chat Yes Yes Yes
Website https://www.fxcm.com/ http://en.swissquote.com/ http://www.ig.com/
Forex Spreads
EUR/USD 0.30 0.80 0.60
GBP/USD 0.70 1.00 0.90
USD/JPY 0.70 0.80 0.70
AUD/USD 0.8 1 0.6
Cryptocurrency Spreads N/A N/A 10
View all FX spreads

79.79% of retail investor accounts lose money when trading CFDs with this provider.

View all FX spreads

Losses can exceed deposits

View all FX spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

INDICE SPREADS
Dax 30 1.4 1.0
Nasdaq 100 1 1.8 1.0
Euro Stoxx 50 1 2 1.5
ASX 200 1.0
S&P 500 0.5 0.6 0.4
FTSE 100 1 1.6 1.0
Google N/A 1 to 20
Facebook N/A 4 points per side
View all spreads

79.79% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

Losses can exceed deposits

View all spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

FEES

Inactivity Fee No No Yes
Commission 0.08% per share charge per side No Yes (0.1%)
Deposit Fee No No Varies
Withdrawal Fee Varies No No
View All Fees

79.79% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

Losses can exceed deposits

View All Fees

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

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Last update

All information collected from https://www.fxcm.com/. Last updated on 01/06/2019.

All information collected from http://en.swissquote.com/. Last updated on 01/06/2019.

All information collected from http://www.ig.com/. Last updated on 01/06/2019.

Company

Since 1999, FXCM (AKA FXCM) have become one of the most popular forex brokers, with over 220,000 active accounts. In 2014 alone, their retail trading volume exceeded $4 trillion. If you are looking for a reputable broker with low spreads, FXCM are a great option.

Swiss based Swissquote is an online trading company that provide everything you need to manage your assets online. With Swissquote you are only one click away from trading in the worlds major stock markets in over 1 million products. They give you access to equities, options and futures, funds, derivatives and more.

Swissquote have been listed on the Swiss Market Exchange for over 15 years have global offices including London, Hong Kong and Dubai and employ over 500 staff. They are a member of the Swiss Bankers Assoication and are also regulated by the Swiss Financial Market Supervisory Authority. Opening an account with Swissquote trading platform will grant you access to a premium financial information and analysis to keep in permanent touch with the markets.

Founded in 1974, IG are one of the largest and most respected brokers in the world. With over 125,000 traders, low margins and spreads, and a range of platforms, they're a popular choice for traders looking for a reputable broker that also offers a good range of markets and trading options.

IG are also one of the few brokers that offer experienced traders the chance to upgrade to an elective professional status. For more information about trading with IG, we have put together an indepth IG review with all the pros and cons about this broker.

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FXCM or Swissquote?

Offers Islamic accounts or a wide range of instruments?

If you’re a trader looking for a broker that offers Islamic accounts, FXCM may be the better option. However, if you want a broker with a large range of instruments available to trade, Swissquote may be more suitable.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider FXCM to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

FXCM and Swissquote are both regulated by Financial Conduct Authority

As the Financial Conduct Authority are one of the most stringent regulators in the world, both FXCM and Swissquote will have very strict guidelines to follow to ensure they protect their retail trader clients.

IG are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

FXCM has been around for 20 years, while Swissquote have been around for 20 years. Our third alternative broker, IG, have been around for 45 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both FXCM and Swissquote use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on FXCM or Swissquote in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

FXCM is a publicly listed company, while on the other hand Swissquote is still a privately owned company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

FXCM are based in NY, USA, while Swissquote are based in Chemin de la Cretaux 33, 1196 Gland, Switzerland.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both FXCM and Swissquote offer forex trading. Swissquote have a slightly larger variety of currency pairs with 138 pairs, compared to 39 offered by FXCM. Also, if you’re looking to trade cryptocurrencies,

Both FXCM and Swissquote allow you to trade commodities like gold, silver and crude oil.

FXCM and Swissquote both offer social trading, which is a modern approach to trading that allows you to follow like-minded traders, copy their trading activity, and engage in discussion around trading strategies.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both FXCM and Swissquote offer this. Swissquote also offer the new & improved MT5 platform. Our alternative broker, IG, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. IG, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

FXCM does allow scalping and hedging. While Swissquote also allows scalping and hedging. You can trade with EAs (expert advisors) on both FXCM and Swissquote.

In terms of risk management tools, neither FXCM or Swissquote offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

FXCM also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

FXCM accept Payoneer while Swissquote accept Payoneer.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, FXCM charges 0.30 points, while Swissquote charges 0.80 points. Therefore, FXCM is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: FXCM or Swissquote?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, FXCM is more reliable based on our criteria above. Swissquote has a wider range of instruments to trade. Swissquote offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.