This broker was not featured in our 2020 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.
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Swissquote is the trading name of a Swiss provider of online financial and trading services known as Swissquote Group Holding Ltd. It has been listed on the SIX Swiss Exchange since 2000, and as well as its headquarters in Gland, there are also offices in Bern, Zurich, Malto, Dubai, Hong Kong and London. It is licensed and regulated by FINMA, and also authorised by the FCA. Swissquote is also a licensed and regulated Swiss bank which only adds to the reasons for it becoming a highly respected and trusted Forex broker. In fact, it currently has more than 200,000 private and institutional clients.
|Forex, indicies, commodities, shares|
Swissquote offers a wide variety of tradeable instruments
There are plenty of options when it comes to trading, and most types of trader will find something they like. For example, Forex, commodities, and stock indices. Swissquote Bank offers:
- A choice of 63 of the most-traded currency pairs
- Precious metals including gold, silver, platinum, and palladium
- Natural gas, Brent and WTI crude oil
- Copper, aluminium, nickel, zinc, and lead
- Leverage of up to 25:1 on stock indices Euro Stoxx 50, DAX, and SMI
Swissquote offers its own innovative eTrading platform
Swissquote offers traders new features and a great new look with a personalised trading platform. The host of features includes:
- Widgets that enable traders to personalise their workspace
- A watchlist that allows the tracking of favourite securities
- Daily analysis via trend radar
- Tracking of the latest financial news so you can stay up to date
- Quick search option that means you can find securities by name, symbol or ISIN
And for those of you who are already hooked on the MetaTrader trading platform there is MT4 and MT5. MT4 is packed full of indicator and charting options, potential for automated trading, trailing stop features and all the latest news from Dow Jones. MT4 also comes with the latest trading tools including direct access to MetaTrader trading signals that can be used for community trading, as well as free access to Autochartist. MT4 also accepts Expert Advisors with no restrictions.
MetaTrader 5 is also available, but it hasn’t yet reached the popularity of the previous MT4 version. Nevertheless it does have some interesting features. Including MetaQuotes Language 5 that allows faster and easier use of custom indicators and EAs.
Swissquote currently offer two types of account
When writing this Swissquote review we used the European site as our point of reference. Currently there are two types of account available, an individual and a corporate account. Opening an individual account is really quite easy, and is free to open with no forms to sign. All that is required are a few personal details and you can be ready to go. Alternatively, if you’d prefer to get in a little practise before risking real money, and want to get a feel for this broker, we’d advise you to open a demo account first.
Swissquote charges no commission but there is a charge payable via the spread. These are variable, but very competitive.
Adding funds to an account has some very limited options, bank wire transfer and credit cards being the only ones. While that may not be a problem for many traders, we’d always prefer to see a few more. Wire transfer payments incur no charges but there is a transaction fee of 1.7% – 2% of funds deposited for credit card payments. Withdrawing funds from a trading account can only be done by bank transfer to your own bank account, and can take up to 4 business days.
There is a learning centre that will help beginners and more experienced traders
With Swissquote you can learn to trade with much more confidence by taking advantage of all that’s in the very informative learning centre. From the very basics, to more complex subjects such as fundamental and technical analysis, as well as calculating profit and loss. As well as help with developing strategies and so much more.
Getting in touch with Swissquote is pretty simple, with a few telephone numbers to call, toll-free, an email address, as well as our favourite, the instant chat option. And if you’d prefer to save on the charges there is a call back option as well.
Why should you choose Swissquote as your Forex broker?
Swissquote has been operating in the industry for a good number of years, and its banking experience certainly goes a long way to backing up its reliability. There is a good choice of trading platform and a wide range of trading instruments to choose from. The spreads offered are competitive and it has a great reputation internationally, which is going to put you in good stead. If you like the sound of what they have to offer give the demo account a whirl first, so you can get a feel first hand for the services of this secure and trusted broker.
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