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Swissquote Review 2024

By:
Plamen Stoyanov
Updated: Apr 1, 2024
Overall Rating
4.4
  • Trust
    5
  • Fees
    3.8
  • Platforms and Tools
    4.5
  • Tradable Instruments
    4.9
  • Customer Support
    4.5
  • Research
    4.8
  • Deposit and Withdrawal
    3.4
  • Account Types and Terms
    2.9
  • Education
    5
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    Our Take on Swissquote

    Founded in 1996 and headquartered near Geneva, Swissquote stands out as a reputable and well-rounded financial institution offering trading and investment services.

    I was particularly impressed by Swissquote’s extensive selection, offering over 3 million securities, forex, and CFD instruments. Moreover, the broker is an industry leader in execution performance, boasting an impressive median execution speed of 9 ms.

    Swissquote offers the standard suite of MetaTrader 4 & 5 platforms. It has also developed an intuitive proprietary CFXD platform featuring charts from TradingView. Coupled with fast execution speeds, these platforms are well-suited to meet the needs of day traders and scalpers.

    However, it’s worth noting that Swissquote’s trading fees are above average, and its minimum deposit requirement of $1,000 is also relatively high.

    Recommended in 8 best broker guides: 
    Forex | Platforms | Regulated| MT4 | MT5 | Scalping | Commodities| Share CFDs in Europe

    Swissquote Pros and Cons

    Pros Cons
    • Lightning-fast execution speeds
    • Feature-rich proprietary platform
    • More than 3 million instruments 
    • FIX API offering 
    • Comprehensive research and education 
    • Listed on a major exchange
    • High trading fees
    • High minimum deposit requirement
    • Fee for withdrawals 

    Swissquote Highlights for 2024

    • Robust Security: Swissquote is one of the most tightly regulated institutions in the financial industry. The bank is currently authorized by eight regulators, 7 of which are ranked as Tier-1.
    • Ultra-fast Execution: Swissquote averages execution speeds of around 9 milliseconds – one of the fastest in the industry. It also has a 98% fill ratio, mitigating the risk of negative slippage.
    • Advanced Proprietary Platform: The CFXD platform enables comprehensive technical analysis and features complex order types along with multiple chart configurations.
    • Extensive Instruments Offering: The broker boasts an impressive instruments offering comprising more than 3 million securities. This includes over 470 CFDs and other forex instruments.
    • High Trading Fees: Even though Swissquote offers commission-free trading, except for share CFDs, its spread and swap charges exceed the industry average.

    What Sets Swissquote Apart?

    Swissquote boasts average execution speeds of approximately 9 milliseconds, an achievement matched by only a few other brokers in the industry.

    Also, Swissquote incorporates actionable trading signals from the seamless Autochartist and offers FIX API for even better low-latency trading performance.

    Who is Swissquote For?

    Based on my research, Swissquote is an ideal choice for scalpers and day traders. The above-mentioned execution performance ensures precise order filling. At the same time, the feature-rich CFXD platform can be used to great effect by chart artists looking for the best entry and exit levels.

    I performed my tests on a Standard trading account using the web trader and mobile app versions of the CFXD platform. The account was opened with the Swissquote Bank Ltd entity of the broker. Some features and services may vary depending on where you reside and which entity you open an account with.

    Swissquote Main Features

    ☑️ RegulationsFINMA (Switzerland), CySEC (Cyprus), FCA (United Kingdom), DFSA (United Arab Emirates), SFC (Hong Kong), MFSA (Malta), MAS (Singapore), CSSF (Luxembourg)
    🗺 Supported Languages
    English, Russian, French, Czech, Arabic, Italian, Spanish, Chinese, German
    💰 ProductsOptions, Currencies, Stocks, ETFs, Mutual Funds, Crypto, Bonds, Indices, Commodities, Futures
    💵 Min Deposit$1000
    💹 Max Leverage1:100 (FINMA), 1:30 (CySEC ), 1:30 (FCA), 1:30 (DFSA), 1:20 (SFC), 1:30 (MFSA), 1:20 (MAS), 1:30 (CSSF)
    🖥 Trading Desk TypeSTP, Market Maker, Hybrid
    📊 Trading PlatformsMT5, MT4, CFXD
    💳 Deposit OptionsWire Transfer, Credit Card, Visa, Mastercard
    💳 Withdrawal OptionsWire Transfer, Credit Card, Visa, Mastercard
    🤴 Demo AccountYes
    🗓 Foundation Year1996
    🌎 Headquarters CountrySwitzerland
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    Swissquote Full Review

    Trust

    5
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    Swissquote operates eight entities that are authorized in different jurisdictions. Seven of those are licensed by Tier-1 regulators. The broker adheres to all essential safety requirements, such as ensuring negative balance protection, segregation of client funds, a compensation scheme, and capping the maximum retail leverage.

    Entity Features Sissquote Bank Ltd Swissquote Ltd  Swissquote MEA Ltd Swissquite Asia Ltd Swissquote Finanial Services (Malta) Ltd Swissquote Pte. Ltd Swissquote Bank Europe Ltd Swissquote Capital Markets Ltd
    Country/Region  Swizerland, Zurich UK, London UAE, Dubai Hong Kong Malta, St. Julians Singapore Luxembourg Cypru, Limassol
    Regulation FNMA FCA DFSA SFC MFSA MAS CSSF CySEC
    Tier  1 1 2 1 1 1 1 1
    Segregated Funds Yes Yes Yes Yes Yes Yes Yes Yes
    Negative Balance Protection No Yes Yes No Yes Yes Yes Yes
    Compensation Scheme Up to CHF 100,000 under esisuisse Up to GBP 85,000 under FSCS No Up to HKD 500,000 under ICF Upt to EUR 100,000 under DCS No Up to EUR 25,000 under ICS Up to EUR 20,000 under ICF
    Maximum Leverage 1:100 1:30 1:30 1:20 1:30 1:20 1:30 1:30

    Swissquote Regulations

    In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

    This is what I discovered about the several entities operating under the Swissquote trade name:

    • Sissquote Bank Ltd holds a banking license issued by the Swiss Federal Financial Market Authority (FINMA), and it is also a member of the Swiss Bankers Association. We rank FINMA as a Tier-1 regulator.
    • Swissquite Ltd is licensed and regulated by the Financial Conduct Authority (FCA) in the UK under licensing number 562170. The FCA ranks as a Tier-1 regulator on our system.
    • Swissquote MEA Ltd is licensed and regulated by the Dubai Financial Services Authority (DFSA) under licensing number FD001438. We rank DFSA as a Tier-2 regulator.
    • Swissquite Asia Ltd is licensed and regulated by the Securities and Futures Commission (SFC) of Hong Kong under reference number AZV127. We rank SFC as a Tier-1 regulator.
    • Swissquote Financial Services (Malta) Ltd is licensed and regulated by the Malta Financial Services Authority (MFSA) to provide custodian services and institutional trading. The MFSA is ranked as a Tier-1 regulator on our system.
    • Swissquote Pte. Ltd is licensed and authorized by the Monetary Authority of Singapore (MAS). We rank MAS as a Tier-1 regulator.
    • Swissquote Bank Europe Ltd holds a banking license and is regulated by the Commission de Surveillance du Secteur Financier (CSSF) under the supervision of the ECB. We rank the CSSF as a Tier-1 regulator.
    • Swissquote Capital Markets Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 422/22. We rank CySEC as a Tier-1 regulator.
    Swissquote Bank Ltd’s licensing info on finma.ch
    Swissquote Bank Ltd’s licensing info on finma.ch

    Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?

    Brokers operate multiple entities to serve clients globally, yet regulatory protections vary by jurisdiction. Some regulators enforce strict financial standards, while others are more lenient. Traders should understand the protection offered by the entity where they intend to open an account.

    Here is what you need to be looking for in a broker in terms of safety mechanisms:

    • Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All Swissquote entities ensure segregated client funds.
    • Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. Six out of eight Swissquote entities ensure negative balance protection.
    • Compensation scheme. A compensation scheme protects traders against the broker’s liabilities in the unlikely event that the company becomes insolvent. All Swissquote entities offer compensation schemes, except for Swissquote MEA Ltd and Swissquote Pte Ltd.
    • Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum leverage with Swissquote is capped at 1:100.

    Stability and Transparency

    In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided.

    Swissquote has been a Swiss SIX Stock Exchange member since 2000, evocating the company’s stability. Financial publicly traded institutions usually have huge market capitalizations, meaning they are less likely to go bankrupt. Presently, Swissquote’s market capitalization is close to 3.65 billion Swiss francs.

    I reviewed Swissquote’s legal documents and assessed that everything was in order. All legal information is extensive and readily available. Texts are written in an easy-to-assimilate manner, and I found no major discrepancies.

    Is Swissquote Safe to Trade With?

    Swissquote’s entities are tightly regulated and adhere to all essential safety requirements, such as ensuring negative balance protection and participating in compensation schemes. The bank is publicly traded on the SIX stock exchange and has a huge market capitalization.

    In conclusion, I assessed that Swissquote demonstrates a high level of trustworthiness and stability because of the following factors:

    • It is authorized by eight Tier-1 regulators
    • Is a member of a major stock exchange
    • It complies with all essential safety requirements

    Fees

    3.8
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    Swissquote affords commission-free trading. However, its spreads and swaps exceed the industry average. The broker offers swap-free trading via its Islamic accounts. Deposits are free of charge, but withdrawals are liable for a handling fee. There is also an inactivity fee.

    Swissquote Trading Fees

    Swissquote Spreads

    I tested Swissquote’s spreads on 7 March 2024 during the London and the New York open. The results are shown in the table below:

    Instrument Live Spread AM Live Spread PM Industry Average 
    EURUSD 1.4 pips 1.4 pips 1.08 pips
    GBPJPY 2.6 pips 2.6 pips 2.44 pips
    Gold (XAUUSD) 25 pips 25 pips 42 pips
    Crude Oil  0.02 pips 0.02 pips 0.03 pips
    Apple NA 0.04 pips 0.33 points
    Tesla NA 0.05 pips 0.50 points
    Dow Jones 30 3.79 basis points 3.79 basis points 3.3 basis points
    Germany 40 3.5 basis points 3.13 basis points 2.4 basis points 

    Broken down by asset class and compared to the industry average, Swissquote charges low spreads on commodities and share CFDs and average-to-high spreads on forex pairs and indices. My tests indicate that Swissquote offers especially competitive prices for trading precious metals and energies.

    As a side note, there is almost no difference between Swissquote’s AM and PM spreads across all markets. This demonstrates the broker’s access to deep liquidity and superior execution standards.

    Swissquote Commissions

    With respect to forex and CFD instruments, most assets can be traded commission-free. The only exception is share CFDs. The table below outlines the shares CFD commission rate on a Standard account:

    Region Commission Rate  Minimum
    US $0.03/share $20
    Switzerland, EU, UK 0.15% $20

    For commissions applied to securities and cryptocurrency trading, please refer to the table below:

    Swissquote’s securities commission policy
    Swissquote’s securities commission policy

    Swissquote Swaps

    A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

    The values listed below are for one full contract (100,000 units) of the base currency.

    Instrument Swap Long Swap Short
    EURUSD Charge of $5.88 Credit of $2.41
    GBPJPY Credit of $24.50 Charge of $30.82

    My tests indicate that Swissquote charges average-to-high swaps compared to the industry average. This should not impede the performance of day traders. However, it is not in line with the needs of longer-term traders.

    Swissquote Non-Trading Fees

    Swissquote does not charge deposits, but withdrawal requests are liable to a handling fee. Its size depends on the account’s base currency.

    After six months of dormancy, Swissquote charges an inactivity fee of 10 units of the base currency. The fee is charged monthly until activity resumes or the account balance drops to zero.

    Are Swissquote’s Fees Competitive?

    Given the elevated spreads and swaps, this price configuration does not seem particularly competitive. However, the higher trading fees charged by Swissquote are balanced out by its superior execution standards and services. Overall, the high trading fees at Swissquote are justifiable, considering the value they provide.

    Accounts Comparison

    I have compiled the table below to help you better understand the difference between the trading fees of Swissquote’s three account types and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.

    The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) on the EUR/USD with a pip value of $10 for each account.

    To calculate the cost of such a full-sized trade, I used this formula: Spread x pip value+commission

    Account Type* Spread Commission**  Net Cost 
    Standard 1.4 pips $0 $14
    Premium 1.1 pips $0 $11
    Prime 0.8 pips $0 $8
    Typical STP 1.2 pips $0 $12
    Typical ECN 0.2 pips $6 $8

    *The numbers in this chart are only illustrative and subject to change over time

    **Round-turn commission

    According to my findings, Swissquote’s Premium and Prime accounts offer trading fees that largely correlate with the industry average. However, they have rather high minimum deposit requirements (at $10,000 and $50,000, respectively).

    In contrast, the Standard account features above-average costs but with a much lower barrier to entry. The minimum deposit requirement for it is $1000.

    Platforms and Tools

    4.5
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    Swissquote developed its proprietary CFXD platform for advanced technical analysis and order execution. It also supports a standard suite of MetaTrader 4 and MetaTrader 5. Autochartist is integrated directly into the CFXD platform and also can be installed as a plugin on MT4 and MT5. Moreover, Swissquote provides a FIX API for low-latency trading.

    Platform/Tool Suitable For
    MetaTrader 4 Simple order execution, automated trading
    MetaTrader 5 Simple order execution, automated trading
    CFXD Sophisticated technical analysis, advanced order execution, customizable trading interface 
    FIX API Low-latency trading 

    I tested the many features of CFXD and found it a very well-balanced and versatile platform. It has a web trader version and is the only platform from the available ones that offers synthetic CFDs. And while CFXD does not support copy and automated trading, it provides a superior user experience.

    The CFXD platform features a customizable trading interface, enabling users to tailor it to their specific preferences and trading styles. It also supports complex order types, including OCO orders, for more advanced entry and exit strategies. Additionally, CFXD’s capabilities can be enhanced with Swissquote’s FIX API for low-latency trading.

    Autochartist via CFXD platform
    Autochartist via CFXD platform

    The standout feature of CFXD is its integration with Autochartist, one of the premier signal-providing services, directly into the platform’s interface. This integration gives traders access to a broad spectrum of actionable trading ideas, as mentioned above. Such flexibility is particularly beneficial for high-frequency day traders.

    CFXD also has a practical mobile app version, which is an excellent account management tool. It also offers many educational content to help beginners learn even on the go.

    The CFXD Web Trader Platform

    CFXD’s main panel
    CFXD’s main panel

    General Ease of Use

    The platform’s design is fairly straightforward and easy to navigate. The charts screen is positioned on the right-hand side of the main panel, with the Autochartist screener right on top of it. Account info is displayed at the bottom, while the watch list panel can be found on the left-hand side.

    Charts

    I consider the chart screen a platform’s most important feature. It facilitates technical analysis by providing an overview of price action behavior. Chart artists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down.

    CFXD’s chart screen
    CFXD’s chart screen

    The first thing that struck me about CFXD’s charts was their fluidity. As you can see above, price action is represented clearly and elegantly. Unlike other, more cumbersome platforms, applying two or more indicators and drawing tools to the chart does not obscure the price action.

    Instead, it enhances and contextualizes it, a hallmark of robust charting software. This fluidity is unsurprising, given that CFXD’s charts are powered by the seamless TradingView.

    I have broken down the available analytical tools and chart configurations below:

    • 86 technical indicators. The platform supports trend-based, volume-based indicators, oscillators, and more. These can be applied to study price action behavior and determine the underlying market sentiment. In general, technical indicators are used to gauge where the market is likely to head next.
    • 64 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns. Additionally, they can be applied to determine key support and resistance levels and potential breakout or breakdown levels.
    • 15 timeframes. CFXD allows multi-timeframe analysis of price action behavior. The greater the number of timeframes, the more intricate examinations that can be carried out across the short-term and long-term.
    • 16 chart types. The large amount of possible chart configurations makes it possible to examine potential trading opportunities from different angles. Price action can be represented as a line, as different types of candlesticks, or as several types of bars.

    Orders

    CFXD’s order placing window
    CFXD’s order placing window

    I have broken down the main order types available on the CFXD platform below:

    • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order gets filled.
    • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
    • Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    The platform also accommodates complex order types, such as OCO (One Cancels the Other) orders. These are used to gain more sophisticated entries into the market based on the changing market environment.

    My Key Takeaways After Testing the CFXD Platform

    CFXD is an excellent platform that can be used for advanced price action examination and order placing. It is feature-rich and caters to the needs of day traders and scalpers. The inclusion of synthetic CFDs also makes it possible to implement complex hedging strategies.

    What stood out the most to me, in addition to CFXD’s fluid charts, is the inclusion of Autochartist. It provides access to actionable trading ideas on a number of instruments at all times.

    The CFXD Mobile App

    From left to right: a watch list of selected instruments, chart screen, order placing window, and an Autochartist signal
    From left to right: a watch list of selected instruments, chart screen, order placing window, and an Autochartist signal

    Swissquote’s proprietary CFXD mobile app provides traders with quick and easy access to the market on the go. It’s very useful for making snap adjustments to any open trades. The app also allows for placing market, limit, and stop orders, as well as adjusting the exposure of your open trades.

    Moreover, the CFXD app integrates content from Autochartist, significantly facilitating traders in search of viable trading opportunities. It enables easy management of open positions and helps traders stay informed about current trading setups.

    Another significant advantage of the app is its inclusion of over 20 educational videos, making it a valuable resource for newbie traders to learn about trading nuances whenever they have the opportunity.

    The app lacks drawing tools or technical indicators, which I don’t see as a major issue since technical analysis is generally not recommended to be performed on devices with low resolution.

    My Key Takeaways After Testing Swissquote’s Mobile App

    I appreciated the CFXD mobile app for its convenience, offering quick market access and easy trade adjustments on the go. They value the app’s ability to place various orders and adjust trade exposures, as well as its integration of Autochartist content, which simplifies finding trading opportunities.

    The inclusion of educational videos is beneficial for new traders. Although the app lacks technical analysis tools, I don’t view this as a significant drawback, considering the unsuitability of conducting in-depth technical analysis on low-resolution devices.

    Tradable Instruments

    4.9
    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    Swissquote offers more than 470 forex and CFD instruments across various markets, surpassing the industry average. These instruments are available in different contract types, including synthetic CFDs, spot, and forwards. Additionally, the broker provides access to over 3 million securities, encompassing growth assets, warrants, ETFs, forex options, cryptocurrencies, and more.

    Forex and CFDs

    Markets Industry Average Types Contract Types
    83 Currency Pairs 30 – 75 Majors, Minors, Crosses, Exotic Spot 
    25 Commodities 5 – 10 Metals, Energy, Soft Commodities Spot, Forward, Synthetic
    335 Shares 100 – 500 Switzerland (28), France (41), US (126), UK (101), Germany (39) Spot 
    25 Indices 5 – 10 EU, UK, Americas, APAC Spot, Forward
    3 Bonds 3 – 10 EU, US Forward

    *With respect to trading fees, volatility, and contract types

    Swissquote offers an average amount of share CFDs and a high amount of FX pairs, commodities, indices, and cryptocurrencies compared to the industry average.

    Securities

    Markets  Types *Suitable For
    95,533 Shares US, Europe, Asia, Other Value, Growth, Momentum
    150,983 Warrants and Derivatives  US, Europe, Other Hedging, Value
    1,000,000+ Options and Futures US, Europe, Asia, Other Hedging, Speculation
    17,815 Funds US, Europe, Asia, Other Growth, Momentum, Value
    1008 ETFs US, Europe, Asia, Other Hedging, Growth
    76,047 Bonds US, Europe, Asia, Other Hedging, Growth
    35 Cryptocurrencies  Major and Minor Speculation

    *With respect to trading fees, volatility, and contract types

    The combined offering of Forex, CFDs, and securities accommodates the execution of all kinds of trading and investing strategies. Clients of Swissquote can use it to practice speculative trading – scalping, day trading, position trading – or to practice growth and value investing.

    What Are CFDs?

    Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery.

    For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.

    One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

    What Can You Trade With Swissquote?

    Forex Commodities
    EURUSD | GBPJPY | EURNZD | USDJPY | USDHKD | EURNOK Gold | Crude Oil | Natural Gas | Silver | Sugar | 
    Share CFDs Indices
    Apple | Tesla | Citigroup | Microsoft | Netflix | Amazon | Meta | Barclays Dow Jones 30 | Germany 40 | Nasdaq 100 | FTSE 100 | Hong Kong 50
    Bonds Cryptocurrencies
    US Bond | German Bund | UK Gilt Bitcoin | Litecoin | Ethereum | Ripple

    My Key Takeaways After Exploring Swissquote’s Instruments Offering

    Swissquote provides an impressive range of tradable and investment instruments. Its clients can get creative with the type of trading and investing strategies they wish to implement. For instance, they can speculate with changes in price action in the short term or invest in value assets with the potential for future growth.

    Most importantly, I assessed that Swissquote offers a sufficient range of lower-risk securities and higher-yield/risk assets so that traders can regulate their market exposure and take advantage of various trading opportunities.

    Customer Support

    4.5
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    Swissquote offers 24/5 customer support in several languages, including English, French, German, and others. You can submit your question to Swissquote’s automated chatbot or go through the FAQ section of the website for more general queries. Phone support is available to all, but live chat with an agent is exclusive to registered clients.

    Live Chat Email Phone 
    24/5 from the website For private clients: fx@swissquote.com  +41 44 825 87 77
    Languages
    English, French, German, Italian, Spanish, Czech, Arabic, Russian, Chinese

    Customer Support Test

    When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

    I conducted my test using the chat option. Even though I could not contact an agent, I found Swissquote’s chatbot sufficiently intuitive. It responds well to straightforward questions related to the general trading experience.

    Deposit and Withdrawal

    3.4
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    Swissquote accepts payments via bank cards and wire transfers. It takes up to one business day for deposit and withdrawal requests to be processed, though transaction times may take several days. Swissquote does not charge an internal fee for deposits; it only charges for withdrawals with bank cards. The fee rate varies depending on the account currency.

    Swissquote Deposit Methods

    Payment Method Currency Processing Time Fee
    Bank Wire CHF, EUR, USD, GBP, AED, AUD, CAD, CZK, DKK Up to 1 business day $0*
    Visa CHF, EUR, USD, GBP, AED, AUD, CAD, CZK, DKK Up to 2 hours 1.9% third-party fees for residents of SEPA countries (including Switzerland)

    0% for clients residing outside of SEPA countries
    Mastercard CHF, EUR, USD, GBP, AED, AUD, CAD, CZK, DKK Up to 2 hours 1.9% third-party fees for residents of SEPA countries (including Switzerland)

    0% for clients residing outside of SEPA countries

    *Third–party banking fees may apply

    Swissquote Withdrawal Methods

    Payment Method Currency Processing Time Fee
    Bank Wire EUR, CHF Up to 1 business day $0*
    Visa CHF, EUR, USD, GBP, AED, AUD, CAD, CZK, DKK Up to 2 hours Based on the currency**
    Mastercard CHF, EUR, USD, GBP, AED, AUD, CAD, CZK, DKK Up to 2 hours Based on the currency**

    *For residents of Switzerland and Liechtenstein

    **For further information, please click here

    Account Types and Terms

    2.9
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    Swissquote offers three retail accounts and one professional account. Although the Standard account requires a minimum deposit of $1,000, which is relatively high, it offers many perks, including access to content from Autochartist. Swap-free trading is available via Swissquote’s Islamic accounts.

    Swissquote Account Opening Process

    Swissquote’s account registration form
    Swissquote’s account registration form
    • Step 1. Click ‘Open Your Account’ at the top-right corner of the main page.
    • Step 2. Choose your account type.
    • Step 3. Fill in your personal information and contact details.
    • Step 4. Build your client profile by elaborating on your trading experience.
    • Step 5. Provide your financial information.
    • Step 6. Upload proof of address and ID to verify your account.
    Swissquote’s account registration form (continued)
    Swissquote’s account registration form (continued)

    Swissquote’s Account Types

    Account Types Standard Premium Prime  Professional
    Spread From From 1.7 pips From 1.4 pips From 1.1 pips Custom
    Commission* $0 $0 $0 Not Specified
    Stocks Commission

    US – $0.03/share

    EU, UK, CH – 0.15%

    Min $20

    US – $0.02/share

    EU, UK, CH – 0.12%

    Min $15

    US – $0.01/share

    EU, UK, CH – 0.09%

    Min $10

    Lowest 
    Minimum Deposit $1000 $10,000 $50,000 Volume-based 
    Minimum Trade Size 0.01 lot 0.1 lot 1 lot Custom
    Standard Leverage 1:100 1:100 1:100 Custom
    Maintenance Margin 100 100 100 100
    Stop-Out Level 30% 30% 30% 30%
    Inactivity Fee 10 units of base currency per month 10 units of base currency per month 10 units of base currency per month 10 units of base currency per month
    Islamic Account Yes Yes Yes NA
    Demo Account Yes Yes Yes NA

    *Round-turn, per traded lot (100,000 units)

    I concluded that Swissquote’s Standard account has the lowest barrier to entry at $1000 but offers above-average trading costs. It also supports maximum retail leverage at 1:100, which is suitable for risk-takers.

    The stop-out levels for all private accounts are fixed at 30%, which is somewhat low. Inexperienced traders should exercise particular caution.

    Demo Account

    Swissquote offers demo accounts that introduce traders to the broker’s services, allowing them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account alongside your live CFD account.

    Islamic Account

    The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law. Traders who want to open an Islamic account must contact Swissquote’s customer support and request the service.

    Professional Accounts

    Swissquote also offers professional accounts for experienced forex traders. To be eligible, you must provide a proven track record of trading leveraged derivatives in significant sizes. Additionally, you must have a portfolio of cash and investments of EUR 500,000 or more.

    What is CFD Leverage?

    The leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

    Maximum Leverage by Asset Class

    In the table below, I have listed the maximum retail leverage available with Swissquote for instruments from different asset classes:

    Asset Class Maximum Retail Leverage 
    Forex and FX Options  1:100
    Energies 1:50
    Other Commodities 1:50
    Share CFDs 1:20
    Indices 1:50
    Bonds 1:50

    Swissquote Restricted Countries

    Swiisquote doesn’t accept clients from the following countries: Morocco, Hong Kong, Japan, Singapore, Belgium, Russia, Ukraine, Malta, Turkey, Canada, the USA, and Uruguay.

    Research

    4.8
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    Swissquote offers multifaceted research content catering to the needs of beginners and seasoned traders. There are multiple articles, videos, a magazine, and a podcast. The materials are diverse, insightful, and easy to digest.

    Autochartist

    In my opinion, Autochartist’s trading ideas are the most practical type of research content available. What’s great is that they are directly integrated into the CFXD platform, alerting traders to currently unfolding trading opportunities, including the emergence of patterns such as falling and rising wedges, flags, pennants, and more.

    Traders are informed about the underlying market sentiment (what is actually causing the setup), the likely day highs and lows, associated risk, potential profit, and more. This type of content is extremely practical, especially for day traders.

    A trading signal by Autochartist
    A trading signal by Autochartist

    Morning News

    Available from the website, each news article is extremely detailed and informative, affording the reader a balanced and insightful outlook on recent market developments. However, I found a supporting chart for technical analysis to be lacking.

    Swissquote’s morning news
    Swissquote’s morning news

    Magazine

    Swissquite publishes its own magazine, which is rather rare in the trading industry and evocative of the bank’s commitment to detail and perfection. The magazine represents an abstract take on current trading, investing, and financial developments from global markets. It offers broker clients an innovative way to stay on top of the latest developments.

    Swissquote’s magazine
    Swissquote’s magazine

    Blog

    Here, traders can access all the latest articles and opinions published by Swissquote. The benefit of the blog is that it presents readers with a broad perspective on current market trends and economic developments. They can use this information to learn about trading and investing opportunities that are currently unfolding.

    Swissquote’s blog
    Swissquote’s blog

    Podcast

    Swissquote’s podcast is published daily and available on all major podcast platforms, such as Spotify, Apple Podcasts, Amazon Music, and more. Podcast episodes usually feature interviews with prominent market experts, offering a unique and personal perspective into the peculiarities of trading and investing. I found listening to the podcast a great and easy way of gaining expert insights.

    YouTube Videos

    Traders can access a wide range of videos from Swissquote’s YouTube channel. These are published regularly and cover a wide range of trading topics related to economic trends, technical analysis, fundamental analysis, and more.

    Swissquote YouTube-channel
    Swissquote YouTube-channel

    Education

    5
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    Swissquote offers comprehensive educational content, including a range of ebooks and videos. The content is structured nicely and mostly focused on technical analysis and investing. Less attention is paid to fundamental analysis and the psychology of trading.

    Swissquote’s ebooks
    Swissquote’s ebooks

    The bulk of Swissquote’s educational content is available from the European version of the website. Around 120 educational videos are also available from the broker’s YouTube channel.

    I appreciated the ‘Master Forex’ course, which lasted 1.5 hours and comprised 23 separate videos. The course is nuanced and well-organized, serving as an excellent foundation for beginners to delve into complex theory.

    There are also six ebooks available from the EU version of the website. They mostly cover topics pertaining to technical analysis, such as how to interpret price action behavior, chart patterns, candlesticks, and more. There is also one ebook dedicated to risk management.

    Swissquote can improve its educational section by adding some more content related to fundamental analysis and trading psychology.

    Swissquote’s educational webinar
    Swissquote’s educational webinar

    The Bottom Line

    Swissquote, an industry veteran founded in 1996, is a Geneva-based bank that has established itself as a trusted partner for novice and experienced traders alike, as well as those interested in value investing.

    The broker stands out with its lightning-fast execution speeds, averaging around 9 milliseconds, and an extensive and diverse set of tradable and investment instruments.

    Furthermore, the proprietary CFXD platform is versatile and feature-rich. Its charts, powered by Trading View, are fluid and highly informative. The platform supports complex order types and facilitates comprehensive technical analysis.

    On the other hand, Swissquote’s trading fees are elevated and exceed the industry average, coupled with a relatively high minimum deposit requirement.

    Overall, I found Swissquote to be an ideal choice for high-frequency traders interested in low-latency trading.

    FAQ

    Swissquote’s headquarters are in Geneva, Switzerland.
    From my research, Swissquote can be considered safe to trade with. It is authorized by several Tier-1 regulators and adheres to all safety requirements, such as ensuring negative balance protection and segregated funds. The bank is also a member of the SIX Swiss stock exchange.
    Swissquote is indeed good for beginners. It offers extensive supporting content, versatile platforms, and excellent execution standards.
    The minimum deposit requirement is $1000.
    Deposits can be made using bank wire and bank cards.
    Clients of Swissquote can withdraw funds via bank transfer, credit, or debit card.
    Transaction times may vary between 3 to 8 business days.
    The maximum leverage for retail traders with Swissquote is 1:100.
    Swissquote has developed its proprietary CFXD platform. It also incorporates MetaTrader 4 and MetaTrader 5.
    Yes, it does.
    Swissquote is one of the best options for scalping. It achieves ultra-fast order execution speeds of around 9 milliseconds, offers FIX API, and has developed a versatile platform.
    Yes, auto-trading is available via MetaTrader’s Expert Advisors (EAs) feature.
    Yes, Swissquote is quite suitable for hedging. The broker offers a wide range of lower-risk securities, such as ETFs and bonds, typically used for hedging.
    No. Spread betting is not available with Swissquote.
    No, Swissquote does not provide VPS hosting. However, a FIX API plugin is available.
    Swissquote operates with a proprietary hybrid execution model that combines features of both STP and market maker models.
    Swissquote is a licensed bank, except for clients residing in the EU.

    See Swissquote Full Information

    Headquarters CountrySwitzerland
    Foundation Year1996
    RegulationsFINMA (Switzerland), CySEC (Cyprus), FCA (United Kingdom), DFSA (United Arab Emirates), SFC (Hong Kong), MFSA (Malta), MAS (Singapore), CSSF (Luxembourg)
    Publicly TradedYes
    Number Of Employees1053
    Trading Desk TypeSTP, Market Maker, Hybrid
    Trading PlatformsMT5, MT4, CFXD
    Restricted Countries
    Canada, Morocco, United States, Turkey, Russian Federation, Uruguay, Singapore, Japan, Malta, Hong Kong, Belgium, Ukraine
    Supported Languages
    English, Russian, French, Czech, Arabic, Italian, Spanish, Chinese, German
    Min Deposit$1000
    Max Leverage1:100 (FINMA), 1:30 (CySEC ), 1:30 (FCA), 1:30 (DFSA), 1:20 (SFC), 1:30 (MFSA), 1:20 (MAS), 1:30 (CSSF)
    Deposit OptionsWire Transfer, Credit Card, Visa, Mastercard
    Withdrawal OptionsWire Transfer, Credit Card, Visa, Mastercard
    Time to Withdrawal3
    Time to Open an Account1
    Crypto
    Ethereum, Dogecoin, Bitcoin, Litecoin, Bitcoin Cash, Ripple, Ethereum Classic, 0x, Cardano, EOS, enjincoin, Bancor, Polkadot, Chainlink, Tezos, Solana, Polygon, Cosmos, The Sandbox, Decentraland, Avalanche
    Products
    Options, Currencies, Stocks, ETFs, Mutual Funds, Crypto, Bonds, Indices, Commodities, Futures
    Demo AccountYes
    OCO OrdersYes
    Offers HedgingYes
    Automated TradingYes
    API TradingYes
    Guaranteed Stop LossNo
    Guaranteed Limit OrdersNo
    Guaranteed Fills / LiquidityNo
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorYes
    Social TradingYes
    AutochartistYes
    Trading SignalsYes
    Platform Languages
    Italian, Chinese, Arabic, English, French, Spanish, Russian, German, Czech, Thai
    24 Hours SupportYes
    Support During WeekendsNo
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    WebinarsYes
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeYes

    About the Author

    Plamen StoyanovBroker Analyst

    Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

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