Swissquote Review

Author By Jeffrey Cammack Author Information Updated: November 16, 2020
Overall Rating
3.60 3.60 / 5
Rated #40 of 49 Recommended Brokers
Min. Deposit
USD 1000
Regulators
Trading Desk
Trading CostTrading Cost Information
USD 13
Website Language
English
Support Language
English
AlertAccepts Australian Clients. Average spread EUR/USD 1.30 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4, MT5 and Swissquote proprietary platforms supported. Swissquote is regulated by the FCA.

Summary

Swissquote is an award-winning, FCA-regulated STP broker. Swissquote targets more experienced traders (and serious beginners) as the minimum deposits required are considerably higher than with other similar brokers. However, Swissquote’s trading conditions reflect what clients should expect from a professional brokerage.

Swissquote has an award-winning proprietary trading platform, but also offer support for the MetaTrader suite. In addition, premium analytical tools are available for clients for free.

Reviews

Regulation
111104/ 5
Trading Conditions
111104/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
111003/ 5
Education & Research
110002/ 5
Assets Available
1110.503.5/ 5
Customer Service
111003/ 5
Beginner Friendly
Standard
Bonuses

Account Information

Base Currencies
CHF, EUR, USD
Number of FX Pairs
78
Copy Trading
No
Hedging Allowed
Yes
Scalping Allowed
Yes
Islamic Account
Yes

Trading Conditions

Min. Spread
1.70 pips
Commission
Fees Included in Spread
EUR/USD
1.7
GBP/USD
2
USD/JPY
1.6
Max. Leverage
400:1

Company Details

Company Name
Swissquote Group Holding Ltd
Founded
1996
Office Locations
Switzerland, Hong Kong, United Arab Emirates

Is Swissquote Safe?

Swissquote uses STP execution for trades, which is entirely free of conflict as trades are passed directly to the market without any dealing desk oversight.

Swissquote has been regulated by the FCA in the UK (license: 562170) since 2012 and Swissquote Bank is regulated by FINMA (Switzerland). The UK’s FCA is a world-class regulator with strict processes that guarantee security for consumers.

Swissquote is only one of four brokers in Europe with bank backing, and none of the other three has the financial stability of Swissquote Bank.

Swissquote has also been well-recognised by the industry, recently winning the award for Best Forex Platform 2015 and 2016 (ADVFN International) and the award as for Best Broker 2018 (Forbes Fintech Age Awards).

Trading Conditions

Swissquote targets experienced and professional traders, as the entry-level accounts require significant initial deposits. All accounts operate on an STP execution model and do not have dealing desk intervention.

A client can trade in currency pairs, precious metals, stock indices, commodities and bonds. The maintenance margin on all accounts is 100%, and the stop-out level is 30%.

Account Types

Swissquote offers four different live account options in addition to a demo account. The minimum deposits on these accounts are higher than other STP brokers but are normal for experienced and professional traders. There are three commission-free accounts.

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Premium
USD 10000
100:1
1.4
None
Account Details
Prime
USD 50000
100:1
1.1
None
Account Details
Professional
0
100:1
Custom
None
Account Details
Standard
USD 1000
100:1
1.7
None
Account Details

The Standard account is the commission-free entry-level account at Swissquote. An initial deposit of 1000 USD is required and spreads start from 1.7 pips, and standard leverage up to 1:100.

The Premium account is the next step up in the commission-free accounts, with a 10,000 USD minimum deposit and offers spreads from 1.4 pips, and standard leverage up to 1:100.

The Prime account is the top of the range for commission-free trading. With a 50,000 USD minimum deposit, and standard leverage up to 1:100, spreads will get as tight as 1.1 pips.

The Professional account is a fully-customisable account option, where the minimum deposit is adjusted depending on the volume traded. Custom spreads and pricing can be discussed with your account manager. This account is targeted at professional traders looking to get the best trading conditions possible at a leading brokerage.

Swissquote Account Types

Spreads and Commissions

Depending on the account type, spreads can be as low as 1.1 pips on the commission-free accounts, while spreads will get tighter on the professional account which then blends tighter spreads in exchange for a commission charged on volume traded.

Deposit and Withdrawal Fees

Deposits and withdrawals are free of administrative charges. Deposits can be made via bank transfer, credit cards, and Skrill. Skrill can only be used for deposits.

All withdrawals require filling out a form and emailing it to the back office team.

Swissquote for Beginners

Swissquote cannot be considered a broker for new traders. While educational material does exist, it is not as extensive as other brokers, and no support is provided to find trading opportunities besides access to additional tools.

Customer service hours are also limited to regular office hours instead of the 24 hours service that is more common among similar brokers.

Education Material

The education section at Swissquote is broken down into two parts – the learning centre and webinars. While the videos in the learning centre are in English only, the webinars are available in multiple languages.

The learning centre is made up of 2-3 minute short videos in the following sections:

  • Introduction to Forex
  • Introduction to CFDs
  • Technical Analysis
  • Fundamental Analysis
  • Risk Management
  • MetaTrader
  • Advanced Trader

These videos are a very high-level introduction to Forex trading, and more reading should be done on each of these topics before trading. An 11-page ebook is downloadable as well to supplement the videos, but additional resources will be needed to get a complete picture.

Webinars are available in English, French, German and Arabic, and topics cover items from a Weekly Market Update to the occasional educational question. Educational issues are coordinated between languages to ensure clients of all languages have the opportunity to learn the material.

Analysis Material

Swissquote is an execution-only broker. Execution-only means that they don’t offer any assistance to traders in finding trading opportunities.

However, the Research Section of the website issues market analysis and news on subjects that affect the currency market – from fundamental to political and technical intelligence.

Swissquote also offers regular analysis with a Daily Market Brief and a Daily Market Outlook.

Customer Support

Customer support is available via phone, email and chat.

Toll-free numbers for some countries are available for phone contact, and the service centre is opening during office hours from 9 am to 6 pm UK time. Chat is open during office hours. The dealing desk is open during market hours.

Trading Platforms

Swissquote supports multiple trading platforms: Advanced Trader – a proprietary platform created by Swissquote, and MetaTrader 4 & 5 – the industry standard CFD trading platforms.

Advanced Trader is a JavaScript platform compatible with both PC and Mac where no download is required. The platform supports conditioned orders, advanced charts analyse tools, FX Insider and an economic calendar; all included by default.

Significantly, the order inputs are by notional value rather than lots, mini, and micro-lots. Advanced Trader allows FIX API connection, has hedging capabilities on request and does not support EAs (Expert Advisors).

Metatrader, on the other hand, allows hedging, full access to a signal community and plugins able to align the basic version to the Advanced Platform. We list more of the advantages of MT4 here.

While the regular versions of MT4 and MT5 are available on both Mac and PC, the MetaTrader Extended Edition which makes MetaTrader a little more beginner-friendly is only available for Windows PCs.

Trading Tools

Swissquote offers a small set of premium tools to traders free of charge. These tools help traders find trading opportunities by analysing the markets for patterns or by presenting additional data that can help traders draw trading conclusions.

Autochartist

Autochartist is a 3rd party tool that monitors market charts looking for patterns. It is particularly helpful for traders looking to trade specific pattern or currency pairs, as it will send alerts in real-time making it possible to take advantage of the data immediately.

Autochartist is a powerful tool for traders who actively spend time looking for trading opportunities and technical traders who appreciate the assistance with finding patterns.

Swissquote Autochartist Example

FIX API

The Financial Information eXchange (FIX) protocol is a platform created to pass information between systems in trading, and Swissquote gives clients access to an API to pull information from this database. This data includes historical price quotes, as well as other trading information, which will allow traders to get real-time information from the markets to either assist directly in trading or as a part of algorithmic trading.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Swissquote offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

SwissQuote Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Swissquote would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

Overall

Swissquote is a leading STP broker in Forex & CFD trading. Targetting mainly the experienced trader and offering limited but mainstream MetaTrader platform choice, Swissquote has created a stable and fast trading solution. Premium tools are issued for no charge, and a wide range of CFDs are available to trade without commission, but with wider spreads than with their competitors. In contrast to other STP brokers, the minimum deposits required at Swissquote are substantially higher than with their competitors.

AlertAccepts Australian Clients. Average spread EUR/USD 1.30 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4, MT5 and Swissquote proprietary platforms supported. Swissquote is regulated by the FCA.
Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.60/ 5
USD 1000
Market Maker
Commodities, Cryptocurrencies, Equities, Bonds
78
5
  • Great platform choice
  • Wide range of assets
  • High minimum deposit
  • Limited education
  • Poor customer service
111104/ 5
111104/ 5
11110.54.5/ 5
111003/ 5
110002/ 5
1110.503.5/ 5
111003/ 5
79% of retail investor accounts lose money when trading CFDs with this provider
400:1
1.70 pips
Yes
Yes
Premium, Prime, Professional, Standard
Yes
MT4, MT5, AdvancedTrader
Bank Transfer, Visa, Mastercard, Unionpay
Fees Included in Spread
1110.503.33/ 5
AUD 50
Market Maker
Commodities, Cryptocurrencies, Forex, Equities
47
16
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
11110.54.5/ 5
110.5002.5/ 5
111104/ 5
110002/ 5
10.50001.5/ 5
111104/ 5
111104/ 5
71% of retail investor accounts lose money when trading CFDs with this provider
400:1
1 pips
Yes
Yes
Professional, Standard
Yes
etoro
Bank Transfer, Skrill, Paypal
Fees Included in Spread
1110.503.73/ 5
AUD 500
Market Maker
Commodities, Forex, Equities, ETFs
48
0
  • Good range of accounts
  • Wide range of assets
  • Wide spreads
  • Limited education
  • Limited market analysis
  • High minimum deposit
111104/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
10.50001.5/ 5
11110.54.5/ 5
111003/ 5
69.7% of retail investor accounts lose money when trading CFDs with this provider
400:1
3 pips
Yes
Yes
Gold, Islamic, Mini, Platinum
Yes
MT5, Sirix
Bank Transfer
Fees Included in Spread
Visit Broker
AlertMost retail CFD accounts lose money. Your capital is at risk.

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