Swissquote Review

Swissquote bank is a Switzerland based forex broker offering CFDs trading platforms MetaTrader 4, MetaTrader 5 + Advanced Trader. Swissquote offer three forex trading accounts with EUR/USD CFDs spreads from 1.1 pips and financial markets from forex to crypto.

By Justin Grossbard / Updated: Monday, November 11th, 2019

Swissquote Review

Swissquote Review Logo‘Top 3’ Swissquote Strengths

  1. Choice Of Trading Platforms
  2. Low Spread Commission-Free Trading
  3. Customer Support

‘Top 3’ Swissquote Weaknesses

  1. High Minimum Deposit
  2. CFDs Bonuses
  3. Risk Management

Swissquote Bank is a global multi-asset broker with a wide range of markets (currencies, stocks, bonds, CFDs, and cryptocurrencies) that caters to all types of traders. Ipsos the number one research agency ranks Swissquote LTD with a score of 5.6 out of 7.0 in terms of client satisfaction among Swissquote clients. Compare Forex Brokers is proud to provide you with a fair and balanced Swissquote review.

FeatureMetaTrader 4+ 5cTrader
Forex TradingYesYes
Metals and CFDs TradingYesYes
Trading ConditionsLeverage up to 500:1Leverage up to 500:1
Algorithmic trading (Expert-Advisors)YesNo
Complex Order TypesNoYes
FIX APINoYes

Our Rating

The overall rating is based on review by our experts

8.83
Spreads
10 / 10
Leverage
8 / 10
Trading Platform
10 / 10
Risk Management
6 / 10
Range of Markets
9 / 10
Customer Service
10 / 10


Swissquote Forex Trading Platforms

Swissquote allows its customers to access the Forex market through 3 award-winning trading platforms:

Swissquote Advanced Trader Logo

1) Advanced Trader

  • Advance Trader is a proprietary online trading platform developed by Swissquote LTD
  • The customizable interface allows traders to arrange the platform interface to fit their own needs
  • Powerful built-in tools and order management tools
  • Exclusive access to news from Bloomberg and Swissquote.com
  • Full mobility to switch between the Desktop, Web or Mobile trading versions

MT4 Trading Platform Logo

2) MetaTrader 4 Platform

  • MetaTrader 4 is the most popular Forex trading platform
  • Built exclusively for retail traders, it comes with a user-friendly interface
  • Deep liquidity and fast trade execution
  • Capability to develop automated trading strategies through the Expert Advisors (EA)
  • Real-time charts, fast live quotes and android/iPhone apps

MT5 Trading Platform Logo

3) MetaTrader 5 Platform

  • MT5 is the latest generation of MetaTrader software
  • It has all the features of the MT4 but with more features, more tools, and more instruments
  • Advanced charting capabilities across android and iPhone devices
  • Offers one-click forex trading service with real-time price quotes
  • Extensive back-testing facilities and copy trading

Summary Of Online Trading Platforms

PlatformAccessibilityAdjustable Session TimesDepth Of Market FunctionalityHistorical Data AccessAlgorithmic TradingDetachable Charts
MetaTrader 4Windows
MAC
Linux
NoNoYesYesYes
MetaTrader 5Windows
MAC
Linux
NoNoYesYesYes
Advanced TraderWindows
MAC
Linux
YesYesYesNoYes

Additionally, the more sophisticated traders have available the FIX API solution to access the interbank market directly from his custom interface. Swissquote’s API protocol can be built up directly into your online trading platform to access real-time and historical price quotes as well as execute orders through Swissquote.com servers.

Traders using the MT4 and MT4 platforms can easily download and install three versions of the MetaQuote software: desktop, mobile, and tablet. The mobile app version can be accessed from  Google Play and the App Store. You have the option to open a Swissquote demo account to first test the waters and explore all the features that come with the MT4 and MT5 platforms. Make sure you check out our MT4 vs MT5 guide that highlights the key similarities and differences between the two forex trading platforms.

On the other hand, Advanced Trader platform comes with unique order execution features that add a wide range of orders including the traditional order types. These complex order types are exclusively available only through the Swissquote proprietary trading platform.

Swissquote Trading Tools

Swissquote offers a wide range of analysis and data tools that allows its customers to trade under the best conditions. The technical analysis tools will help you research only for the instruments that align with your trading specifications.

1) Automatic Pattern Detection (Advanced Trader only)

Swissquote’s chart pattern recognition leading-edge software that allows traders to save time analyzing the most popular chart patterns. Swissquote software has the capability to recognize and outline up to 17 of the most commonly used chart patterns.

When your favourite chart pattern is detected, the automatic pattern detection tool will also indicate the strength of the pattern. Newbie traders may find this as an ideal learning tool for chart pattern trading.

2) Complex Order Types (Advanced Trader only)

Swissquote Mobile TradingTrading with Swissquote.com comes with a high degree of flexibility and complex order management tools. Conditional orders offered by Swissquote can help limit risk and reduce the speed of execution. Additionally, some trading orders are designed to minimize market impact and possibly provide price improvement.

The forex trading platform allows the trader to engage the market with the following extra order types:

  1. Order Cancels Other (OCO) – Uses a combination between a stop order and a limit order. When one order is triggered the other is automatically cancelled.
  2. If done – Uses a two-legged order in which the second-order is triggered only after the conditions of the first order has been satisfied.
  3. If done / OCO – A variation of the IF DONE order whereby an OCO is placed after the order in the IF section has been executed.

One advantage of using these order types is that the contingent order enables you to implement more sophisticated trading strategies.

3) Robo-Advisory

Robot Advisor

Swissquote Robo-Advisory behaves like an automated investment manager and provides an alternative to the classic way of investing. Robo-Advisory is based on a powerful algorithm that analyzes thousands of instruments to create the perfect portfolio based on your risk profile and tolerance.

The cutting-edge technology behind the Swissquote Robo-Advisory allows you to customize your investment preference. But you can also choose the parameters proposed by the algorithm.

The Robo-Advisory platform has been recognized as the first electronic wealth manager in Switzerland being awarded the Lipper Fund Award in 2016 for generating consistent profits for its clients. The Robo-Advisory solution also offers its clients a very competitive annual management fee that is as low as 0.50%.

To participate in the Robo-Advisory management solution, Swissquote requires a minimum deposit of CHF 10,000 (€500.00). To access the Robo-Advisory account, you need to follow a four-step process:

  1. Apply for an online Robo-Advisory account in just a few clicks
  2. Establish your risk level on a scale of 1 to 10
  3. Customize your investment portfolio or go for the strategy recommended by the Robo-Advisory.
  4. Let the Robo-Advisory do the job for you. Your portfolio will be continually optimized and monitored 24 hours a day, 7 days a week.

Before you invest any of your hard-earned money you can opt for a Robo-Advisory demo account which will simulate in a real environment, how the algorithm will perform based on your risk tolerance.

Swissquote Trading Platform Conclusion

Forex broker Swissquote has the in-house capabilities to offer its customers with an advanced proprietary trading platform. Swissquote platform is characterized by a user-friendly interface,  that is rich in technical tools, fast execution,  and complex order types.

The Swissquote’s Advanced Trader platform is dedicated to the professional trader who as more experience. For the novice traders, the MetaTrader4 and MetaTrader5 are just as good to fulfil all your trading needs.

Swissquote Offers Commission-free Trading

Swissquote Bank offers many types of accounts available to you as a trader. Depending on the goals you have set for yourself, and your budget, you can choose between 3 different account types:

  • Standard account – required minimum deposit of $1,000; the EUR/USD spreads start from 1.7 pips
  • Premium account – required minimum deposit of $10,000; the EUR/USD spreads start from 1.4 pips
  • Prime account – required minimum deposit of $50,000; the EUR/USD spreads start from 1.1 pips

Below shows each of these accounts which have no commissions.  There is also a professional account that offers the lowest spreads and higher leverage of up to 400:1. This professional account has qualification requirements and it’s recommended to get in touch with the forex broker to learn more about the bespoke trading conditions.

Swissquote Trading Accounts

Below compares Swissquote to other market makers whose prices are not set by exchanges. This means that they are spread only CFD brokers compared to ECN brokers that charge spreads and commissions.

Currency PairSwissquoteOANDAAvaTradeFXCMDukascopyEasyMarkets
EURUSD1.11.11.31.41.81.8
EURGBP1.21.42.02.41.43.0
AUDUSD1.21.21.80.81.72.6
GBPUSD1.41.72.01.22.33.3
USDJPY1.41.21.51.61.73.0

Outstanding Customer Service

Swissquote enjoys the excellent reputation of a Switzerland brand specialized in online trading. Swissquote Bank is a branch of Swissquote Group Holdings Ltd with the headquarters in Gland Switzerland. But, Swissquote has a global presence with secondary offices in:

  • Bern
  • Dubai
  • Zurich
  • Malta
  • Hong Kong
  • London

With over 23 years of experience in FX solutions, Swissquote has placed a high standard on their customer satisfaction. Clients are well pleased with Swissquote for their award-winning and multi-lingual 24/5 customer service support. Swissquote is a leading global forex broker that serves clients from over 150 countries, including all 28 EU nations as well as non-European countries like Australia, New Zeeland, Hong Kong, and many others.

Due to the strict regulatory environment and laws in some jurisdictions, Swissquote Bank can’t serve clients from the USA, Canada, Japan or Singapore.

The customer service is available in multiple languages: Arabic, Chinese, Czech, English, French, German, Italian, Spanish, and Russian. Swissquote experts can assist you in more than 10 languages.

To reach Swissquote customer service you have several channels available at your disposal:

  • Phone support
  • Live chat with fast response time
  • Email

Swissquote customer support representative answer emails within the same business day. Clients can reach Swissquote representatives using their different office locations and speak in your native language.

Swissquote Broker Reviews – Global Recognition

Swissquote is highly respected among retail traders and professional traders alike. Swissquote has worldwide recognition and prestige. Ipsos the number one research agency ranks Swissquote LTD with a score of 6.2 out of 7.0 in terms of the level of trustworthiness.

The Ipsos study was carried out from June 28th to July 13th 2018, among 1540 Swissquote clients. More than 340,000 clients, with assets worth more than CHF 30 billion, from around the world trust Swissquote with their online trading activities.

What sets apart Swissquote Group from other retail Forex brokers is their exclusive partnership with Manchester United, the world’s most valuable football club.

Swissquote ManU

Swissquote Customer Service Conclusion

Our Swissquote review discovered their customer support service excelling in 3 main areas:

  • Several channels for support including live chat
  • High level of trustworthiness among Swissquote clients
  • Multi-lingual 24/5 customer service support

High Minimum Deposit

Compared to other Forex brokers, Swissquote has a high minimum deposit. This is a safety measure to ensure retail traders are well-capitalized to engage in high-risk leveraged products such as Forex currencies and CFDs.

The Swissquote Forex accounts come with different minimum deposit requirements:

  • Swissquote Standard Account: with a minimum deposit of $1,000
  • Swissquote Premium Account: with a minimum deposit of $10,000
  • Swissquote Prime Account: with a minimum deposit of $50,000

The Swissquote Professional Account comes with a flexible initial deposit which is volume-based. To check if you’re eligible for a professional account, get in touch with Swissquote support team at swissquote.com.

Before you can make a deposit to fund your account,  you need to open an account with Swissquote. The process of opening a Swissquote Forex account follows 3 easy steps:

  1. Fill out the Swissquote application with your personal and financial data.
  2. Submit your documents. The identification requirements: proof of identity (ID card, Passport, Driver’s License) proof of residence (phone bills, bank account statement) and proof of funds.
  3. Deposit trading funds

Open In 3 Steps

The Swissquote account opening procedure is quick and easy and it comes with an effective digital account opening experience.

Swissquote Has Limited Funding Methods

Swissquote offers its clients with limited funding options. As a Swissquote trader you have two methods to fund your account:

  1. Credit Card – Swissquote accepts Mastercard and Visa credit cards
  2. eBanking Portal – Allows for bank wire transfer

 You can even make a Swissquote deposit directly from your iPhone or Android device, with the same ease and convenience as any other deposit procedure. The mobile app deposit is part of the Swissquote eBanking service, which is fast, secure, and easy to use.

Swissquote Account Base Currencies

Swissquote offers an impressive array of 15 different currencies. These include USD, EUR, GBP, JPY, CHF, CAD, AUD, PLN, TRY, SEK, SGD, NOK, XGD, CZK, and HUF.

As a first-time Swissquote client, when you go through the account opening process,  you can only choose four account base currencies: CHF, EUR, GBP and USD.  Nevertheless, once your account is approved, you can attach more currencies to your account.

Swissquote Deposit Fees

Swissquote deposit fees are applied transparently. Whenever you send money to your Swissquote trading account there is a low transaction fee charged:

  • For CHF, EUR and GBP credit card transfer a flat fee of 2.2% is charged
  • For USD deposits a flat fee of 2.5% is charged.

You can only make a Swissquote deposit from a credit card that is under your name.

Swissquote Instant Withdrawal of Funds

Our unique Swissquote eBanking services allow you to add or withdraw funds and manage your account simply and conveniently.

Swissquote is advertising itself as processing all withdrawal requests within the same business day. But, despite that, you can’t withdraw funds directly to your credit card.

The bank transfers are only available with the eBanking portal. The eBanking service will provide you with a personal Swiss IBAN that is connected to your Swissquote account number.

Bank wire transfers are free of charge. You can learn more about Swissquote pricing structure HERE.

Risk Management

Forex trading involves substantial-high risks and it may not be suitable for everyone. Understanding the inherent risk associated with the Forex market is the first step in assuring that you don’t lose your account balance. Minimizing the Forex risk can be achieved by properly using risk management tools and techniques.

The most popular risk management techniques are:

  • Stop-Loss Orders and Trailing Stop Loss
  • Limiting your risk per trade
  • Limiting the amount of leverage used
  • Having an accurate Forex trading strategy
  • Using trade entry management tools

Forex Analysis Tools

Swissquote Non-Guaranteed Stop Loss Order

Swissquote runs on a non-guaranteed stop-loss order policy. This means that you can lose more than your initial stop-loss order because your position is not always closed at the pre-selected price. Stop-loss orders cannot be guaranteed in cases where we have a high level of volatility or there is a Black Swan event.

Swissquote Negative Balance Protection

In terms of risk management tools, Swissquote offers negative balance protection. Due to new ESMA regulation Forex retail clients are better protected against negative balance. This guarantees the trader won’t lose more than their initial investment.

Final Thoughts On Swissquote

This Swissquote review recommends their Premium account for:

  • Scalping traders looking for fast execution speed, commission-free trading, mainstream forex trading platforms (MT4&MT5 and Advanced Trader) and award-winning customer service.
  • Expert traders looking for advanced forex trading features (including automated trading), sophisticated order types, and advanced support

The combination of fast execution speed, multiple choices of trading platforms and enhanced trading tools makes Swissquote Bank a solid and reliable Forex retail broker.

Summary Of Swissquote Findings

Swissquote is a Swiss bank with a rich history doing business since 1996 when it has established itself as Switzerland’s largest financial portal. What makes Swissquote a reliable and versatile Forex trading broker is a combination of multiple factors:

  • A wide range of available instruments for trading, including over 130 Forex currency pairs and CFDs
  • Multiple award-winning trading platforms
  • Enhanced trading tools
  • A reliable Swissquote support team
  • A well-regulated Forex broker satisfying all the Swiss financial market standards.

We believe there is some value in first trying the Swissquote demo account so you can validate by yourself the outstanding trading services provided by one of the best Forex brokers.

Swissquote FAQs

Swissquote Ltd works under the umbrella of top-tier regulatory agencies which makes it safe for online trading. A Swissquote account also comes with a negative balance protection policy, which ensures that clients won’t lose more than their initial investment. As a Swissquote client, you get CHF 100,000 investor protection per account. Swissquote Bank passed with success of our safety test.

The maximum leverage for all types of Swissquote accounts is capped at 1:100. Upon request, you can customize your leverage to fit your risk tolerance levels. Trading leveraged products and derivatives come with a high-risk level.

Swissquote offers its customers two methods to fund their trading accounts. The easiest funding method is by credit card, but you can also do bank wire transfers through a unique eBanking portal. Before you fund your account make sure you try Swissquote demo account at swissquote.com, which is designed to mimic the live trading conditions based on the live prices and the same trading conditions.

Additional Swissquote Information

Swissquote Regulation

Conquer the world’s biggest financial market under the protective screen of a regulated Swiss Bank.

Swissquote Bank enjoys the protection that comes with having a banking license with the Swiss banking system which is known as one of the strongest in the world. Swissquote Group is on the SIX Swiss Exchange under the ticker symbol SQN and has been since May 29, 2009.

Swissquote is listed on the Swiss stock exchange which obligates Swissquote Group to disclose its financial statements. This can provide potential Swissquote clients with an in-depth look at the company’s health and management success.

Swissquote has a rock-solid background. It is Swiss, it is listed, it is a bank. It has two entities, one in the UK and one in Switzerland. If you open an account at the London-based entity, you can trade with forex and CFDs, while the Swiss entity gives you access to a wide range of asset classes from stocks to options.

Swissquote is authorized by the following tier-1 regulatory agencies: Securities Futures Commission (SFC)Monetary Authority of Singapore (MAS)Swiss Financial Market Supervisory Authority (FINMA), and the Financial Conduct Authority (FCA).

Dubai Financial Services Authority (DFSA) entity is Swissquote MEA Ltd.

Swissquote Regulation

Swissquote puts all client funds in a segregated bank account and uses tier-1 banks for this. The supervisory authority requires Swissquote to hold your funds separate from Swissquote funds which comply with the FCA rules.

Financial Services Offered

At Swissquote you have a versatile marketplace with a broad range of tradable instruments. Swissquote scores exceptionally well on the available products offered for online trading. You can find trading opportunities in more than 130 Forex currency pairs and CFD instruments.

You can trade through Swissquote over 80 currency pairs including the:

  • Major currencies
  • Minor currencies
  • Exotic currencies

Swissquote’s offer also includes precious metals trading. You can trade up to 4 precious metals with Swissquote:

  • Gold
  • Silver
  • Platinum
  • Palladium

You can trade the precious metal instruments against the main currencies: CHF, USD, EUR, GBP, and AUD.

Swissquote’s FX platform allows trading CFDs on stock indices, commodities, and bonds. Swissquote CFD’s offer comprises all the major European and US stock indices,  as well as Japan’s stock indices. You also have access to major commodity CFDs such as oil, gas, and copper.

Additionally, you can also trade cryptocurrencies through Swissquote. The Swiss forex broker will give you access to the world’s largest cryptocurrencies by market cap: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.

FX Crypto

All types of trading strategies are allowed on Swissquote including scalping and mobile trading. No matter which is your favourite currency pair, you have access to a deep liquidity pool that is comprised of 16 major liquidity providers.

Forex Training

You can learn the ins and outs of forex trading with Swissquote learning centre, which consist of a wealth of educational tools:

  • Professional educational videos
  • Live seminars
  • Online webinars
  • Forex eBooks and User Guides

The online forex courses will equip the trader with the right knowledge to tackle the forex exchange market and will help you step up your learning curve. The online trading courses are rich in educational videos including introductory tutorials, how to trade tutorials and more advanced video tutorials on risk management.

Swissquote Learning Center

 

The Swissquote Forex eBook is designed to consolidate your FX expertise and solidify the core Forex trading principles. On the other hand, the Swissquote User Guides will help you navigate through the different functionalities of their various trading platforms.

Live webinars and on-demand webinars are held on each  Monday by Swissquote experts. A wide range of exclusive topics that are relevant to today’s market particularities is discussed on a weekly basis. To participate in the live Swissquote webinars, you need to follow their registration process.

The Swissquote Bank research team will supply you with tailored products and content like:

  • Live Analysis Reports
  • All Morning News
  • Daily Market Brief
  • Daily Technical Report Filter
  • Daily Technical Report

The Swiss banking system is portrayed as a bastion of security and has the reputation of being the safest financial system in the world. Don’t miss the change to trade with Swissquote starting from today.