1. Home
  2. Compare Forex Brokers
  3. Swissquote review

Swissquote Review

  • Regulated by: Financial Conduct Authority
  • Safety: segregates client funds
  • Trust Rating: A
Open Swissquote's Website

Losses can exceed deposits

Overview

Swissquote is a forex trading services broker. They give traders access to major markets like currencies, indices, commodities and shares.

To open a live account, you’ll need a minimum deposit of at least $1,000. Alternatively, Swissquote offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 562170). Swissquote puts all client funds in a segregated bank account and uses tier-1 banks for this. Swissquote has been established since 1999, and have a head office in Switzerland.

Before we dive into some of the more detailed aspects of Swissquote’s spreads, fees, platforms and trading features, you may want to open Swissquote’s website in a new tab by clicking the button below in order to see the latest information directly from Swissquote.

Open a demo account Visit Swissquote

Full disclosure: We may receive a commission if you sign up with a broker using one of our links. Your capital is at risk. CFDs are leveraged products & 73% of traders lose money when trading CFDs.

Swissquote screenshot

PROS

  • Segeregates client funds
  • Established in 1999
  • Regulated by Financial Conduct Authority
  • Min. deposit from $1,000

CONS

What are Swissquote's spreads & fees?

Like most brokers, Swissquote takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum fixed spreads listed on Swissquote’s website. The colour bars show how competitive Swissquote' spreads are in comparison to other popular brokers featured on BrokerNotes.

Swissquote variable spread is not available. If you believe this is incorrect please fill in our form

Spreads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

As you can see, Swissquote's minimum spread for trading EUR/USD is 0.8 pips - which is relatively low compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Swissquote vs. similar brokers.

See all Spreads
Losses can exceed deposits

How much does Swissquote charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Swissquote at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $N/A. Here’s a rough breakdown of the fees and how this compares against XTB & City Index.

Swissquote XTB City Index
Spread from: N/A $ 2.00 $ 5.00
Typical overnight fee: N/A $ 7.94 $ 20.60
Commission: N/A 0 0
Total cost of a 100k trade: N/A $ 9.94 $ 25.6
Visit Swissquote Visit XTB Visit City Index

All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Losses can exceed deposits

General Fees

  • Swissquote doesn’t charge inactivity fees*
  • Swissquote doesn’t charge withdrawal fees*

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • The rollover fee for long positions on EUR/USD is $0.00007754
  • The rollover fee for short positions on EUR/USD is $0.00004096

Commissions

  • Swissquote doesn’t charge commission on CFD shares

What can you trade with Swissquote?

Swissquote offers over 189 different instruments to trade, including over 138 currency pairs. We’ve summarised all of the different types of instruments offered by Swissquote below, along with the instruments offered by XTB and City Index for comparison.

FX / Currencies Swissquote XTB City Index
# of forex pairs offered 138 48 84
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs Swissquote XTB City Index
# of commodities offered 7 21 26
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs Swissquote XTB City Index
# of Stocks offered 0 1606 4500
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See Swissquote's InstrumentsSee XTB's InstrumentsSee City Index's Instruments
Losses can exceed deposits

What’s the Swissquote trading experience like?

1) Platforms and apps

Swissquote is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.

Swissquote Screenshot See Swissquote 's Platforms

Swissquote also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See Swissquote 's platforms
Losses can exceed deposits

Trading Features:

  • Allows scalping
  • Allows hedging
  • Low min deposit

Accounts offered:

  • Demo account
  • Mini account
  • Standard account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

With Swissquote, the minimum and maximum trade requirements vary depending on the trader and the instrument.

As a market maker, Swissquote may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that Swissquote offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer

3) Client support

Swissquote support a wide range of languages including English, German, French, Italian, Spanish, Arabic, Russian, and Chinese.

Swissquote has a BrokerNotes double AA support rating because Swissquote offer over three languages

4) What you’ll need to open an account with Swissquote

As Swissquote is regulated by Financial Conduct Authority, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Swissquote’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Swissquote you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://en.swissquote.com/ on August 23, 2018.

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