Swissquote Bank Detailed Review: Everything You Need To Know
Swissquote is a popular and well-respected
online bank and broker headquartered in Switzerland. The company was founded in
2000 and today serves over 330,000 clients in more than 120 countries.
Swissquote is a publicly-traded company listed on the market.
Swissquote offers a comprehensive range of
products and services, including stock and ETF trading, forex trading, bond and
options trading, futures trading, CFD trading, and cryptocurrency trading. The
broker also offers a selection of proprietary platforms and the
industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. The
minimum deposit at Swissquote is $1,000, and the maximum leverage allowed is
1:100, which is relatively high by European standards.
Swissquote is a regulated broker with FINMA,
CSSF, FCA, DFSA, SFC, MFSA, and MAS. The broker's headquarters are located in Switzerland, with offices in
Luxembourg, the U.K, UAE, Hong Kong, Singapore, and Malta.
Swissquote offers 24/5 multilingual customer
support via phone, email, and live chat. Moreover, Swissquote offers robust
security to protect client funds and account information. The Swissquote broker
has implemented SSL and two-factor authentication to ensure that only
authorized users can access client accounts.
Moreover, Swissquote offers a wide range of
trading tools like market analysis, trading signals, and an economic calendar.
The broker also has a good education center that offers trading courses,
e-books, video tutorials, and webinars. Swissquote is a safe and reliable
online broker suitable for both novice and experienced traders. Swissquote
offers a full-fledged suite of products and services at good prices.
Pros
Cons
Highly regulated broker
Email replies are slower
Multilingual support
Customer support is not 24/7
Higher range of tradable assets
Robust security
Access to research tools
Swissquote broker safety
information
Swissquote is among those brokers that are
highly reputed and strictly regulated. The broker has obtained licenses from
some of the most reliable regulatory organizations in the world like FINMA,
CSSF, FCA, DFSA, SFC, MFSA, and MAS.
The broker uses SSL encryption to ensure that
all the data transmitted between the client and the server is encrypted.
Swissquote has also implemented two-factor authentication to ensure that only
authorized users can access client accounts.
Moreover, Swissquote has also implemented KnowYour Customer (KYC) and Anti-Money Laundering (AML) procedures to ensure that
all the clients are legitimate and that their money is not involved in any
illegal activities. AML implementation helps Swissquote detect and prevent any
kind of money laundering activities. Also, Swissquote offers 24/5 multilingual
support, which is very helpful for the clients. As a result, we can say that
Swissquote is a safe and reliable online broker suitable for both novice and
experienced traders. Swissquote is also regulated by three different financial
authorities, making it a safe broker to trade with.
Swissquote fees structure
Swissquote offers multiple trading accounts,
and the fee also varies depending on the account type. The minimum deposit at
Swissquote is $1,000, and you get leverage of 1:100 across all the account
types. The spreads start from 1.1 pips, and it goes up to 1.7 pips.
The fee structure is quite broad as Swissquote
offers various products and services. For example, when you trade US stock CFDs
the charge is USD 0.01/share, min USD10., Moreover, the EUR/USD and GBP/USD fee
are in the form of spreads, an average of 1.6 pips and 1.7 pips. However, it can
rise during peak hours.
Swissquote also charges an inactivity fee of
ten units of your base currency if you don't use your account for six months or
more. In addition, this inactivity fee will be deducted monthly from the
Swissquote account. The minimum deposit for a live account is $1,000.Spreads information at Swissquote
Fees Type
Swissquote Bank
Deposit fee
No
Withdrawal fee
No
Inactivity fee
Yes
Fee ranking
Low/Average
Spread is something that all traders have to pay
attention to when they are looking for a new broker. Spread is the difference
between the bid and the asking price of a currency pair or other instruments,
and it is how brokers make their money. The average spread at Swissquote for is
between 0 pips and 1.3 pips. Compared to other brokers, the spreads at
Swissquote are relatively on a higher side. The commission on forex at
Swissquote starts from $0 per lot and goes up to EUR 2.5 per leg. Below is the
information related to spreads for all accounts of Swissquote:
Standard — 1.7 pips
Premium — 1.4 pips
Prime — 1.1 pips
Professional — custom spreads
Moreover, the company has not mentioned
whether the spreads are floating or fixed. Floating spreads mean that the
spreads widen during high volatile market conditions. On the other hand, fixed
spreads remain constant regardless of market conditions. In terms of spreads,
Swissquote is an average broker, and many brokers offer better value in terms
of spreads and commissions.
Swap fee at Swissquote
You need to pay the swap fee when you hold a
position open overnight. The swap fee is either deducted from your account
balance or added to it, depending on the direction of your trade.
If you trade forex with Swissquote, you will
be charged a swap fee for every night that your position is left open. The size
of the swap fee depends on the currency pair being traded and the direction of
your trade. The Swissquote swap fee for holding a long position overnight
(buying a currency pair) is typically less than the fee for holding a short
position overnight (selling a currency pair). There is no information available
on the Swissquote website regarding accurate swap fees, and you need to contact
their customer support for more information.
Deposit and withdrawal methods
available at Swissquote broker
There are several deposit and withdrawal
methods available at Swissquote brokers. The most popular deposit methods are
credit/debit cards, bank transfers, and e-wallets. The credit/debit card
deposit is instant, while the bank transfer takes 1-3 days for the funds to
reflect in your account. The e-wallet deposit of Swissquote is also instant.
The withdrawal methods are similar to deposit
methods. The most popular withdrawal method is bank transfer which takes 1-3
days while the credit/debit card withdrawal takes longer. Both the deposit and
withdrawal methods are protected with SSL encryption. There are no charges for
deposits however, the withdrawals are charged based on the country you live in.
Below are the minimum deposit details for
every account of Swissquote:
●
Standard — $1,000
●
Premium — $10,000
●
Prime — $50,000
●
Professional — Volume-based
Compared to other brokers, the minimum deposit
amount is relatively high. However, many people choose Swissquote for the
services and products it offers. Overall, the deposit and withdrawal process at
Swissquote is very efficient.
Tradable markets on Swissquote
Swissquote is a multi-asset broker offering a
wide range of tradable markets, including forex, stocks, ETFs, bonds, options,
futures, CFDs, and supports crypto trading.
The forex market at Swissquote is the most
popular trading market globally, with a daily turnover of more than $5
trillion. Swissquote offers more than 80 currency pairs for trading, including
primary and minor currency pairs. The spreads at Swissquote start from 1.1 pips
for the EUR/USD currency pair, which is very competitive. Moreover, some
popular currency pairs you can trade with Swissquote are EUR/USD, GBP/USD,
USD/JPY, and USD/CHF.
In addition to forex trading, Swissquote also
offers stock, ETF, bond, and options trading. The broker has a good selection
of stocks from all major exchanges, including the NYSE, NASDAQ, and London
Stock Exchange (LSE). There are more than 1,700 stocks available for trading at
Swissquote. The spreads on stock CFDs start from 1.1 pips. ETFs are a very
popular way to trade different markets in a single trade. Swissquote offers
over 80 ETFs for trading. ETFs are a very popular way to trade different
markets in a single trade on Swissquote.
Bonds are also a popular tradable on
Swissquote. The broker offers more than 1,000 bonds for trading with a commission
on bonds starting at CHF 9 per trade. Options and futures are also tradable at
Swissquote, with 10,000 options and more than 50 futures for trading. Overall,
Swissquote is a good choice for traders looking to trade a wide range of
markets.
Leverage at Swissquote
The maximum leverage allowed at Swissquote is
1:100, which is relatively high by European standards. The average leverage
offered by other European brokers is 1:30. Leverage allows traders to trade
with more money than they have in their accounts.
For example, if you have a $1,000 account and
use 1:100 leverage, you can trade with $100,000. Leverage also magnifies both
profits and losses. Therefore, it is important to use leverage responsibly and
not risk more money than you can afford to lose. Overall, Swissquote offers a
good selection of tradable markets with competitive prices and high leverage.
Swissquote trading platforms for
traders
Swissquote is a popular online broker offering
a wide range of trading platforms for its clients. The broker offers the
industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. In
addition to these platforms, Swissquote also offers its own proprietary
platform called Advanced Trader and a mobile trading app.
At all trading platforms of Swissquote, you
get negative balance protection that protects you from losing more than your
account balance. Moreover, all platforms offer a wide range of features and
tools like market analysis, economic calendar, a news feed, etc. Let's look at
all trading platforms available at Swissquote.
MetaTrader 4
MetaTrader 4 (MT4) is the most popular trading
platform in the world, used by millions of traders. Swissquote offers the MT4
platform for desktop, web, and mobile trading. The MT4 platform is very
user-friendly and provides a wide range of features and tools for technical
analysis. You can also use custom indicators and Expert Advisors (EAs) on the
MT4 platform. Overall, the MT4 platform is suitable for all kinds of traders.
MetaTrader 5
MetaTrader 5 (MT5) is the latest version of
the MT4 platform with some additional features. The Swissquote MT5 platform is
available for desktop and mobile trading. The interface of the MT5 platform is
very similar to the MT4 platform, so you will not have any problem switching to
the MT5 platform. The main difference between the MT4 and MT5 platforms is that
the latter offers more technical indicators and charting tools. Overall, both
MT4 and MT5 platforms are suitable for trading forex, stocks, and other
markets.
Proprietary Swissquote trading
platform
The proprietary trading platform of Swissquote
is suitable for advanced traders. The platform is available for desktop and
mobile trading. The Advanced Trader platform offers more features and tools
than the MT4 and MT5 platforms. Some of the platform's unique features are
social trading, algorithmic trading, and advanced charting tools.
Mobile trading
Swissquote offers mobile trading apps for
Android and iOS devices. The mobile trading app is very user-friendly and
offers all the features and tools available on the desktop trading platform.
You can trade forex, stocks, ETFs, bonds, and other assets with the Swissquote
mobile app.
In addition to this, Swissquote also offers a
demo account that you can use to practice your trading strategies. The demo
account is completely free, and you get virtual money to practice trading.
The standard account is designed for beginner
and casual traders with a minimum deposit of $1,000. This account offers
spreads from 1.7 pips and maximum leverage of 1:100. The standard account also
comes with a free demo account to help you practice your trading strategies.
Premium account
The premium account is designed for
experienced traders with a minimum deposit of $10,000. This account offers
spreads from 1.4 pips and maximum leverage of 1:100. The premium account also
comes with a free demo account to help you practice your trading strategies.
Moreover, while trading forex, you need to pay charges of $0.02 per share at
Swissquote.
Prime account
The prime account is designed for
institutional and high-volume traders with a minimum deposit of $100,000. This
account offers spreads from 1.1 pips and maximum leverage of 1:100. The prime
account also comes with a free demo account to help you practice your trading
strategies. In forex trading, you need to pay $0.01 per share charges.
Professional account
You need to contact the Swissquote customer
team to know more about the professional account as it is designed for
high-net-worth individuals and institutional traders. However, the maintenance
margin is 100%, and the stop-out level is 30%, similar to other accounts.
How to open a trading account
with Swissquote:
Opening an account with Swissquote is a very
simple and straightforward process. Follow the below steps to open an account
with Swissquote:
●
Go to the Swissquote website and
click on the 'Start Trading' button.
●
Select your country of residence
and choose the type of account you want to open.
●
Enter your personal details like
name, email, and phone number.
●
Choose a strong password and
verify your email address.
●
Upload the required documents for
account verification.
●
Make a deposit and start trading.
Overall, opening an account with Swissquote is
a straightforward process. The broker offers three types of accounts, including
a demo account, standard account, and premium account.
Swissquote customer support
Swissquote offers 24/5 customer support via
phone, email, and live chat. In addition, the customer support team is
multilingual, so you can get help in your language. Swissquote also has a very
good FAQ section covering all the important topics related to trading with the
broker.
Research tools available at
Swissquote
Swissquote offers a wide range of research
tools and resources, including market analysis, trading signals, an economic
calendar, and a news feed. The research tools available at Swissquote are very
good and comprehensive. Some of the key research tools at Swissquote are:
Economic calendar
The economic calendar is a very important
research tool for traders. It helps traders to track important economic events
that can impact the markets. The economic calendar at Swissquote is very
comprehensive and covers all major economic events.
Trading signals
Trading signals are another important research
tool for traders. Swissquote offers trading signals from some of the leading
signal providers in the industry, including Trading Central and Autochartist.
Charting indicators
Charting indicators are a very important tool
for technical analysis. Swissquote offers more than 50 charting indicators,
including popular indicators like moving averages, Bollinger Bands, MACD, and
RSI.
MAM, LAMM & PAMM systems
MAM, LAMM & PAMM systems are available at
Swissquote for professional money managers and traders. These systems allow
traders to manage multiple accounts from a single platform.
Copytrader
Copytrader is a very popular feature on
Swissquote. It allows traders to copy the trades of other successful traders.
This is a great way to learn from other successful traders and make money in
the markets.
Educational content at Swissquote
Swissquote offers a very good education center
that offers a wide range of trading courses, e-books, video tutorials, and
webinars. Have a look at all available education options at Swissquote:
Trading courses
The broker offers four different trading
courses, including a Forex course, a Stock course, an ETF course, and a Bond
course. Each of these courses is very comprehensive and covers all the
essential topics related to the market.
E-books
Swissquote also offers a wide range of e-books
covering different trading topics. These e-books are very informative and easy
to read.
Webinars
Swissquote also offers live and recorded
webinars on various trading topics. These webinars are conducted by experienced
market analysts and are very informative.
Trading glossary
The broker also offers a good trading glossary
covering all the essential trading terms. This glossary is a very useful
resource for both novice and experienced traders.
To sum up the Swissquote review, the broker is
a very good choice for online trading. The broker is regulated by major
financial authorities, offers a wide range of markets for trading, and has very
good prices. Swissquote also has a great selection of trading platforms and
tools and a very good education center. We recommend Swissquote as a safe and
reliable online broker for 2022.
FAQs
How much is the minimum deposit
at Swissquote?
The minimum deposit at Swissquote is $1,000 at
the standard account.
What is the leverage offered by
Swissquote?
The maximum leverage offered by Swissquote is
1:100.
Does Swissquote offer a demo
account for practice?
Yes, Swissquote offers a free demo account
with virtual funds.
Is Swissquote a regulated
platform?
Yes, Swissquote is regulated by FINMA,
CSSF, FCA, DFSA, SFC, MFSA, and MAS.
What are deposit methods
available at Swissquote?
The deposit methods available at Swissquote
include bank wire transfer, credit/debit cards, and e-wallets.
What are the withdrawal methods at
Swissquote?
The withdrawal methods at Swissquote include
bank wire transfer, credit/debit cards, and e-wallets.
How do I open an account with
Swissquote?
You can open an account with Swissquote by
visiting the broker's website and filling out the online application form.
Does Swissquote support MT4 and
MT5?
Yes, Swissquote supports the popular
MetaTrader 4 and MetaTrader 5 trading platforms.
What are the spreads available at
Swissquote?
The spreads at Swissquote start from 1.1 pips
for the EUR/USD currency pair, which is very competitive.
What is the minimum trade size
available at Swissquote?
The minimum trade size available at Swissquote
is 0.01 lots.
How to get in touch with
Swissquote customer support?
You can get in touch with Swissquote customer
support through email, phone, or live chat.
Does Swissquote offer educational
content?
Yes, Swissquote offers a wide range of
educational content, including an economic calendar, market news, webinars, and
more.
Can US residents open accounts at
Swissquote?
No, US residents are not accepted at
Swissquote.
How can I change my password at
Swissquote?
You can change your password at Swissquote by
logging into Settings and going to the "My Profile" section.
Can I use Swissquote on my mobile
phone?
Yes, Swissquote offers a mobile trading app
for Android and iOS devices.
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