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Swissquote Bank Review 2023

Platforms and Tools
Customer Support
Tradable Instruments
Account Types and Terms
Deposit and Withdrawal

Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.

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Please note: We performed our tests on a Standard ‘Forex & CFDs’ account using Swissquote’s Advanced Trader desktop and mobile app versions. The account was opened with the Swissquote Bank Ltd entity of the broker, regulated in Switzerland by FINMA. Some features and services may vary depending on where you reside and which entity you open an account with.

The Big Picture

Founded in 1996, Swissquote is one of the biggest and most reputable brand names in the online trading and investing industry, and its numbers attest to that. The bank offers over 3 million products, serves 500,000+ clients worldwide, and holds north of CHF 51 billion in client assets.

Swissquote possesses multiple top-tier licenses by some of the most trusted financial regulators and has been listed on the SIX Swiss Exchange since 2000. It is headquartered in Geneva and has offices in London, Luxembourg, Singapore, Dubai, Hong Kong, and elsewhere. It is the official sponsor of UEFA Europa League and UEFA Europa Conference League.

My first impression of Swissquote, in addition to its strong licensing and regulation, was its professional-grade platform coupled with fast execution speeds. The Advanced Trader, with its intuitive design and multiple supporting tools, can be used to implement a wide variety of trading strategies. Moreover, with its access to deep liquidity, Swissquote affords fast and precise order execution.

The broker can also be praised for its extensive and diverse collection of research and educational materials, providing a 360-degree overlook of current market developments. I tested Swissquote’s supporting content and found that there is something for everyone – from the seasoned vet to the rookie making his first steps in the world of trading.

Swissquote, however, has above-average costs, and its account types are rather inflexible. And with a minimum deposit requirement of $1000, the broker’s services are not particularly affordable. I also noticed that the broker does not have a ‘best execution policy.’

My overall take on Swissquote is that it is a reliable bank offering investing and trading solutions to different kinds of market participants. It can be the partner that both beginners and advanced traders are looking for.

I evaluated Swissquote across 9 categories (Trust and Stability, Fees, Tradable Instruments, Account Types, Deposit and Withdrawal, Research, Customer Support, Education, and Platform and Tools).

Swissquote Key Takeaways for 2023

  • Swissquote is authorized and regulated by 7 Tier-1 regulators and one Tier-2 regulator. Additionally, by being listed on a major stock exchange, I found the bank trustworthy and transparent.
  • Swissquote’s retail accounts are commission-free but have above-average spreads, making them underperform compared to the industry average.
  • Traders can choose between the renowned MetaTrader 4&5 and the superior Swissquote Advanced Trader, which allows for the implementation of more intricate strategies. Swissquote also incorporates the seamless Autochartist and Trading Central tools.
  • Investors and professional traders are given access to over 3 million assets, whereas the assortment of tradable instruments on the broker’s retail accounts exceeds 400. This is above the industry average, though the retail accounts notably do not include cryptocurrencies.
  • Payments to and from a Swissquote account can be processed via bank wire or credit/debit card. Deposits are free, but withdrawals may be liable for a charge from third parties.
  • Swissquote offers comprehensive research and educational materials covering a wide spectrum of topics: from emerging trading setups to more abstract market developments.
  • Swissquote’s customer support is available 24/5 over the phone, email, or live chat. My test showed that the help is reliable.

What Sets Swissquote Apart From Other Brokers?

When dealing with well-established brand names from the rank of Swissquote, it’s always difficult to pick just one stand-out feature. There are many perks in its services to choose from, but the one I think will have the broadest appeal are its comprehensive educational and research materials.

The first thing worth mentioning is the diversity of the content. There are webinars, e-books, courses, articles, video breakdowns, podcasts, seminars, and even a magazine. The deep pool of various content types affords traders with different experience levels a multilayered insight into the general trading experience. The second is the scope of the materials. Swissquote’s content delves deep into the subject matter and examines each topic from different angles. Thus, they can simultaneously appeal to the inexperienced rookie and the seasoned vet.

I appreciated that Swissquote’s analyses usually have technical, fundamental, and psychological angles, thus giving traders layered explanations of what, how, and why is driving markets.

Who is Swissquote For?

With its average execution speed of 9 milliseconds, 98% fill ratio, and only 18% of all trades being executed with negative slippage, I determined Swissquote is especially fitted to serve the needs of intraday traders. The broker also allows scalping and hedging, which can be practiced on its sophisticated Advanced Trader platform. I explain in greater detail its features in the Platforms and Tools category.

Swissquote’s slippage metrics
Swissquote’s slippage metrics

Swissquote Pros and Cons

Pros Cons
  • Top-tier regulations in multiple jurisdictions 
  • Access to deep liquidity
  • Over 3 million instruments 
  • Professional platform and great supporting tools
  • Deep and rich content 
  • High spreads
  • High minimum deposit requirement



Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.


About the Author

Plamen Stoyanov
Finance writer, analyst, and author of a book for beginner traders "Bulls, Bears and Sharks" with an experience of over 8 years in retail trading and more than 3 years in the finance area.
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
Swissquote Bank Main Features
FCA UK (United Kingdom), CySEC (Cyprus), FINMA Switzerland (Switzerland), MFSA Malta (Malta), DFSA (United Arab Emirates), SFC Hong Kong (Hong Kong), MAS Singapore (Singapore), CSSF Luxemburg (Luxembourg)
Supported Languages
English, Spanish, German, French, Arabic, Russian, Chinese, Czech, Italian
Products (CFD)
Currencies, Commodities, Indices, Stocks, Bonds, Options, Crypto
Min Deposit
Max Leverage
1:30 (FCA UK), 1:30 (CySEC ), 1:100 (FINMA Switzerland), 1:30 (MFSA Malta), 1:30 (DFSA), 1:20 (SFC Hong Kong), 1:20 (MAS Singapore), 1:30 (CSSF Luxemburg)
Trading Desk Type
Bank, Market Maker, No dealing desk, STP
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Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.

Swissquote Bank Full Review


How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

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There are several entities operating under the Swissquote brand name. The company holds multiple banking and brokerage licenses from some of the safest and most trusted financial regulators in the industry. The bank is also listed on the SIX Swiss Exchange, underpinning its safety and transparency.

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 Swissquote’s several entities:

  • Swissquote Bank Ltd holds a banking license issued by its supervisory authority, the Swiss Federal Financial Market Supervisory Authority (FINMA), and is a member of the Swiss Bankers Association. We rank FINMA as a Tier-1 regulator.
  • Swissquote Ltd is licensed and regulated by the Financial Conduct Authority (FCA) in the UK under licensing number 562170. The FCA is ranked 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.
  • Swissquote 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
Swissquote Bank Ltd’s licensing info on

I have summarized the most essential aspects of Swissquote in terms of regulation and safety in the table below:

Entity Features Swissquote Bank Ltd Swissquote Ltd Swissquote MEA Ltd Swissquote Asia Ltd Swissquote Financial Services (Malta) Ltd Swissquote Pte. Ltd Swissquote Bank Europe Ltd Swissquote Capital Markets Ltd
Country/Region Switzerland/ Zurich UK/ London UAE/ Dubai Hong Kong Malta/ St. Julians Singapore Luxembourg Cyprus/Limassol
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 Up to EUR 100,000 under DCS  No Up to EUR 25,000 under ICS Up to EUR 20,000 unde ICF
Maximum Leverage 1:100 1:30 1:30 1:20 1:30 1:20 1:30 1:30

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

Brokers operate multiple entities because it allows them to serve clients worldwide. But licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account with beforehand.

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 of Swissquote’s entities comply with this requirement.
  • 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. This is especially important in volatile markets. No such safety net is available on Swissquote Bank Ltd.
  • Compensation scheme. A compensation scheme protects traders against the broker’s liabilities in the unlikely event that the company becomes insolvent. Clients of Swissquote Bank Ltd are covered by up to CHF 100,000 by esisuisse.
  • Maximum leverage. Capping the maximum leverage limits the maximum market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. Due to FINMA’s more relaxed mandates, retail traders with Swissquite Bank Ltd can enjoy above-average maximum leverage of 1:100.

Is Swissquote Safe to Trade With?

In terms of licensing and adherence to some of the strictest safety requirements, I found Swissquote extremely safe to trade with. However, there are certain aspects retail traders should consider. Firstly, the Swiss entity does not ensure negative balance protection. This means that in extreme cases of market volatility, your losses can exceed your account balance.

Secondly, the bank is not required to have a ‘best execution policy’, which is a legal mandate for brokers to always deliver the most favorable price quotes under the prevailing market conditions. The Bank executes all transactions as the client’s counterparty, acting in its own interest. Swissquote has no duty to protect the client from losses. Swissquote is also under no obligation to seek the best possible outcome when carrying out orders and transactions.

What all of that means, essentially, is that the responsibility for the performance of your trading account falls entirely on you, and you should be especially careful what, when, and how much you trade.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, how big the company is, and how transparent it is in terms of readily available information.

Swissquote has been active for nearly three decades, which attests to its longevity and stability. As stated above, the bank has been listed on the SIX Swiss Exchange since 2000. We consider brokers and banks that are traded on major exchanges as very safe because publicly traded companies are less likely to fail. Additionally, I found out that Swissquote maintains a 25.7% core capital ratio.

Swissquote’s corporate structure
Swissquote’s corporate structure

I quite appreciated Swissquote’s clear corporate structure, as seen on its website. It is not that common in the trading industry to see such a level of detail when it comes to the various entities operating under the brand name.

Swissquote’s live spreads feed
Swissquote’s live spreads feed

Another example of Swissquote’s high transparency is underpinned by the fact that it displays live feed info on the website. You can see in real-time what the spread and swap rates on the different account types are.

In summary, my research indicates that Swissquote can be regarded as having a good level of trust and stability due to the following factors:

  • Holding 7 multiple Tier-1 licenses.
  • Listed on a major stock exchange.
  • Adheres to some of the strictest safety requirements.


How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

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I checked Swissquote’s various trading and non-trading costs and found them to exceed the industry average. Generally, the broker affords commission-free trading, charges above-average spreads, and supports swap-free trading. There are no handling fees on deposits, but withdrawals may be liable for a fee. The broker also charges $10 for inactivity.

Swissquote’s Trading Fees

Swissquote’s Spreads

I tested Swissquote’s spreads during the most actively traded times – the London open at 8:00 a.m. GMT and just after the U.S. open at 2:45 p.m. GMT. The test was conducted on 5 June 2023.

Instrument Live Spread AM Live Spread PM
EURUSD 1.9 pips 2.2 pips
GBPJPY 3.9 pips 4.2 pips
Gold (XAUUSD)  36 pips 45 pips
Crude Oil 0.05 pips 0.06 pips
Apple NA 0.03 points
Tesla NA 0.04 points
Dow Jones 30 5 basis points 4 basis points
Germany 40 3.3 basis points 4.3 basis points
Bitcoin NA NA

Broken down by asset class, Swissquote charges high spreads on FX pairs, medium-to-high spreads on commodities and indices, and low spreads on CFD shares.

Swissquote’s Swap Rates

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 Credit of $7.54 Credit of $4.22
GBPJPY Charge of $1.95 Charge of $2.49

Swissquote’s Commissions

Swissquote’s three retail account types afford commission-free trading, except for CFD shares. For instance, I evaluated the $0.03/share commission applied to U.S. stocks to meet the industry average. You can read more about Swissquote’s stock commissions in detail in the table below:

Swissquote’s commissions for CFD stocks
Swissquote’s commissions for CFD stocks

Swissquote’s Non-Trading Fees

There is a $10 inactivity fee, or the equivalent in the account’s currency, applied to dormant accounts on which no activity has been registered for a period of 6 months or longer. The fee shall be charged until trading activity resumes, the account is closed, or the account balance drops to zero, but will not take it into the negative.

Are Swissquote’s Fees Competitive?

As a whole, I found Swissquote’s fees to be widely diverging. While the spreads on CFD shares are quite low, their commissions meet the industry average. On the other hand, all other instruments on a Standard retail account can be traded without a commission but with above-average spreads. The broker’s costs get more favorable on its other account types, but you need to make a bigger deposit.

Platforms and Tools

How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

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Swissquote supports the popular MetaTrader 4&5 platforms, and it has developed its own Advanced Trader platform. I tested the latter and found it to combine the efficiency of a professional-grade platform with the easy-to-navigate layout of more conventional platforms. I also liked that the broker supports some of the best third-party tools and plugins, such as Trading Central, Autochartist, and the MetaTrader Master Edition.

Advanced Trader is a very well-rounded platform that can be used for the implementation of a wide range of strategies – scalping, hedging, intraday, day trading, and more. Being powered by Trading View, it incorporates its sleek design and broad range of tools. As an intraday trader myself, I liked that the platform supports multiple and sophisticated order types, such as OCO and IF-DONE. For a comprehensive list of the differences between Swissquote’s Advanced Trader and MetaTrader 4&5, please click here.

Automated and copy trading are both available with Swissquote. It supports a FIX API plugin, Expert Advisors (EAs), and complex order types for automated trading, whereas social/copy trading is available via the MetaTrader platforms.

With regards to the mobile app version of the platform, I really appreciated the fact that Swissquote is aware of what mobile apps are good for and what not so much. The charts screen of the mobile version of Advanced Trader intentionally has a limited scope so that traders do not get carried away with their technical analyses on a small-screened device.

Swissquote’s Advanced Trader Desktop Platform

The desktop version of Advanced Trader
The desktop version of Advanced Trader

General Ease of Use

Advanced Trader’s design is very intuitive and practical. Information pertaining to your open trades is displayed at the bottom of the screen. Above it, you can organize 1 or 2 charts. And above the charts, there is account info, and price quotes panels. I found the latter especially useful because it allows you to search for a specific instrument very quickly, unlike MetaTrader, which does not allow you to search by asset class. Finally, you can organize your favorite instruments for one-click trading on the left-hand side of the screen.

A description of the Bollinger bandwidth indicator
A description of the Bollinger bandwidth indicator

What I also found very useful is that when you select an indicator on Advanced Trader, information about its applicability is displayed next to it. This makes it very easy for beginners to learn about trading, and technical analysis in particular, directly from the platform. In my experience, I have encountered similar services only once or twice before.


Advanced Trader’s charts are highly versatile, affording a comprehensive insight into price action behavior. The latter can be scaled up and down with ease so that traders can observe unfolding trading opportunities in the short and long terms.

Advanced Trader’s EURUSD chart
Advanced Trader’s EURUSD chart

My overall impression of the charts screen, which I consider the most important in any platform, is a positive one. It is wide and concise, illustrating price action clearly so that you can differentiate between ranges and trends fairly quickly. And the chart is supplemented with a wide range of tools and features, including:

  • 27 technical indicators. The platform supports trend-based, volume-based indicators and oscillators. Depending on the underlying market sentiment, these can be applied to study different facets of price action behavior. In general, technical indicators are used to gauge where the market is likely to head next.
  • 16 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns, to determine key support and resistance levels, and potential breakout or breakdown levels.
  • 8 timeframes. This collection affords traders a quick glance over currently unfolding trading opportunities in the short and long terms.
  • 7 chart types. This diversity is one of the standout features of the platform. Being able to observe price action from different perspectives can allow you to spot trading setups you might have otherwise missed.


Placing an order on the Advanced Trader platform
Placing an order on the Advanced Trader platform

I have broken down the available order types on the 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 actually 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.
  • OCO orders. One-cancels-the-other (OCO) orders, essentially, allow traders to automate their trading. An OCO order usually but not exclusively consists of one order to execute a long position at one price and another order to open a short position at another price. When one is filled, the other is terminated. That way, traders can use OCO orders to gain favorable entry when there is enough market commitment, underscored by the price action going a significant way in either direction.

Swissquote also supports more complex synthetic order types, such as IF-DONE and IF-OCO, that you can use to automate your trading. You can read more about how they are structured and applied here. Additionally, you can read about the different execution policies on Advanced Trader and MetaTrader here.

Swissquote’s Mobile App

Watch list of selected instruments (first image), a chart (second image), an order placing window (third image), educational section (fourth image)
Watch list of selected instruments (1), a chart (2), an order placing window (3), educational section (4)

The greatest advantage of the app is that it affords traders quick and easy access to their accounts so that they can make swift adjustments to their open trades if necessary. This can be done with just a few clicks. However, the Advanced Trader app suffers from the same problem that is inherent to most other apps – it is very difficult to present complex trading data on a small-screened device.

And I appreciated how Swissquote approached this problem. There are no technical indicators or drawing tools on the chart, which some consider a disadvantage, but I am personally of the opinion that it is better to avoid making technical analyses altogether if you are not using the right tools. Thus, the purpose of the app is solely to manage your account.

Another aspect of the app that I quite liked is that when you prepare a position, the app displays the pip value depending on the volume you intend to execute, as well as that the spread rate is displayed between the instrument’s bid and ask prices. Moreover, I found the educational section of the app very useful. It allows newbies to learn even on the go.

Tradable Instruments

How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

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Swissquote offers over 3 million products on its ‘Trading’ account, including multiple investment options, ETFs, futures, crypto assets, and more. The Forex & CFDs account, which consists of its three retail options, has 450+ instruments from fewer asset classes.

Retail traders can choose from a wide variety of lower-risk securities and higher-risk assets. To me, this variety is crucial because it not only allows traders to implement a wider range of strategies but also to diversify the risk more evenly.

What Are CFDs?

Contracts for difference (CFDs) are derivatives used to speculate on the price of the underlying without physical delivery. For example, a long position on gold would generate a profit as the price rises or incur a loss as it falls. This is achieved without having to purchase actual bars of gold. 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?

I have broken down the instruments available on the Forex & CFDs retail accounts below:

  • 83 Currency Pairs
    Majors, Minors, and Exotic
  • 23 Commodities
    Metals, Energies, Soft
  • 335 Share CFDs
    Tech, Retail, Finance, Others
  • 26 Indices
    U.S., EU, Asia
  • 12 Bonds
  • 46 FX Options
    Majors and Minors

By asset class, Swissquote offers an above-average number of FX pairs, commodities, indices, and bonds, and an average amount of CFD shares. What I appreciated the most is the availability of 46 FX options. In comparison to a CFD contract, an option gives traders the right but not the obligation to execute. Hence, these complex instruments give you greater control and the possibility to better manage your risk.

Forex Commodities
EURUSD | GBPJPY | EURCHF | AUDCAD | HKDUSD | USDTRY Gold | Crude Oil | Natural Gas | Silver 
Share CFDs Indices
Apple | Tesla | | Chevron | Vodaphone | Netflix | Porsche | Puma Dow Jones 30 | Nasdaq 100 | DAX 40 | FTSE 100 | CAC 40 | Nikkei 225
Bonds FX Options

Customer Support

How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

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Swissquote provides 24/5 multilingual support over the phone, email, or live chat. By my reckoning, the support team is generally knowledgeable and responds quickly. Help is available in English, French, German, Italian, Spanish, and other languages.

For more general queries, you can turn to Swissquote’s FAQ pages, which I checked and found to contain plenty of information. My only minor criticism is that they do not have a search bar, and if you have a specific question, you need to look it up manually. But even still, Swissquote’s FAQ section is very helpful.

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 contacted them on 5 May at around 09:20 a.m. CET via live chat, which is available at the bottom-right corner of the main page. Before you get connected to an agent, you need to provide your name and email address.

An agent connected within two minutes to the chat, even though it was a relatively busy time – Monday morning, right after the EU open. I asked whether Swissquote operated as a market maker. And I found his answers to be straight to the point, though he could have been more thorough.

My conversation with Swissquote’s support team
My conversation with Swissquote’s support team

Deposit and Withdrawal

How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

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Payments to and from Swissquote are processed by bank wire or bank card. The bank does not charge for deposits, though third-party fees may apply. There is a handling fee for withdrawals via bank transfer. All payment requests are processed fairly quickly.

Swissquote Deposit Methods

Method Fee Processing Time
Bank Wire 0* Up to 1 working day
Visa / Mastercard** 0% for clients residing outside of SEPA countries
1.9% third-party fees for residents of SEPA countries (including Switzerland) 
Up to 2 hours 

*Third-party fees may apply

**Swissquote may cover some or all fees by the card issuer

Swissquote Withdrawal Methods

Method Fee Processing Time
Bank Wire Based on your currency* Up to 1 working day
Visa / Mastercard 0 Up to 2 hours

*For additional information, please go here

Deposits are free of charge, though third-party fees may apply. Swissquote may cover some of these charges when the payment is processed by a bank card. Card payments from outside of SEPA countries are charge-free. All transactions are processed during business hours, Monday to Friday, from 08:00 to 17:30 CET.

Account Types and Terms

How Do We Test A Broker's Account Types and Terms?
In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

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Swissquote offers three retail account types for Forex and CFD trading – Standard, Premium, and Prime. Account creation is fast and easy, and you may choose from 8 base currencies. Swap-free trading is also permitted via Swissquote’s Islamic account. The minimum deposit requirement of $1000 exceeds the industry average. When you open an account with Swissquote, you get a personal IBAN with the bank.

Why is Choosing the Right Account Type Important?

Your account should reflect your goals, needs, and ambitions on the market. You should take into consideration several things, such as whether the account type has a minimum deposit requirement, what its spreads and commissions are, what the execution method is, and more. Broadly speaking, the account type you choose should reflect your trading system in all regards.

Swissquote’s different account solutions
Swissquote’s different account solutions

What Account Types Does Swissquote Offer?

I gathered all relevant data about Swissquote’s accounts and arranged it in the table below, making it easy for you to compare:

Account Type Standard Premium Prime Professional
FX Spreads From 1.7 pips From 1.4 pips From 1.1 pips Custom
Commission 0 0 0 Custom
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)

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
Expert Advisors/HFT Allowed  Allowed  Allowed  Allowed 
Maintenance Margin 100% 100% 100% 100%
Stop-Out Level  30% 30% 30% 30%
Inactivity Fee 10 account currency units/month 10 account currency units/month 10 account currency units/month 10 account currency units/month

Swissquote’s retail accounts afford commission-free trading and floating spreads, except for CFD shares. This combination is, broadly speaking, more suitable for longer-term trading. This includes trading strategies such as day and position trading, which are not predicated on frequent entries and exits in and out of trades but on riding substantial price trends over a long period of time.

With a minimum deposit requirement of $1000, the Standard account may not be accessible to all retail traders. On the other hand, I determined its floating FX spreads, starting from 1.7 pips, to be quite elevated. However, I found Standard quite favorable for trading CFD shares and options.

Swissquote’s Order Execution Model?

Swissquote operates on a Straight-Through-Processing (STP) basis, meaning that client orders are directly transmitted to the broader market without an internal dealing desk. The advantage of this model is that execution speeds tend to be faster, which is underscored in Swissquote’s performance numbers above. However, the bank does not have a ‘best execution policy’, meaning that it is not mandated to always deliver the best price feeds.

Order types available on Swissquote’s different platforms
Order types available on Swissquote’s different platforms

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-sized positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

Swissquote Account Opening Process

The account creation blank with Swissquote
The account creation blank with Swissquote

I have broken down the account opening process with Swissquote in these easy-to-follow steps:

  • Step 1. Click ‘Start Trading’ at the top-right corner of the main page.
  • Step 2. Choose a private account type – ‘Trading & Crypto’, ‘Forex &CFDs’, or ‘Robo-Advisory’.
  • Step 3. Fill in your personal information, such as your name, phone number, and address.
  • Step 4. Complete your client profile. You have to provide information about your employment status and tax residency.
  • Step 5. Choose a platform, base currency, and estimated initial deposit.
  • Step 6. Provide your wealth information, including the breakdown of your assets and the sources of your wealth.
  • Step 7. Verify your account by uploading proof of address and identity. You will also need access to a camera for your digital authentication.
Filling in your financial information during account creation
Filling in your financial information during account creation

Why is a Demo Account Important?

The demo account introduces traders to the broker’s services and allows 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 for yourself along with your live account.

With Swissquote, you can open a free demo account making a trial on MetaTrader 4, MetaTrader 5, or on the proprietary Advanced Trader platform.

Swissquote Restricted Countries

Swissquote does not accept clients from the following countries: Morocco, Hong Kong, Japan, Singapore, Belgium, Russia, Malta, Turkey, Canada, the USA, and Uruguay.

Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.


How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

See More

I was impressed by Swissquote’s scope and diversity of research content. Market developments are examined from different perspectives to give traders a layered and penetrating breakdown of what’s driving markets and why. Swissquote’s nuanced content is suitable for both inexperienced traders and seasoned professionals.

Research Tools

I have broken down Swissquote’s research materials by type:

Morning News

The morning news section of the website is where traders can read up on the day’s highlights. Each story usually contains around 3-4 sentences making it very digestible.

Swissquote’s morning news
Swissquote’s morning news

Video News

Breakdowns of important upcoming economic releases and other market events. The videos usually last around 10 minutes and are easy to grasp. Traders can expect a fundamental analysis of what is driving price action or influencing the underlying market sentiment. The videos also include graphs and price charts, and the technical analysis thus complements the fundamental picture.

Swissquote’s video news
Swissquote’s video news

Themes Trading

Broader articles that cover more abstract topics, or at least do not directly examine potential trading setups. I quite enjoyed the ‘stealth orders’ section for scalpers with its sharper focus on developments in the short term.

One of Swissquote’s article collection
One of Swissquote’s article collection

Autochartist and Trading Central

Swissquote’s clients are also given access to two of the premier trading analyses and alerts providers in the industry – Autochartist and Trading Central. They are powerful search engines that scan different markets and underscore currently unfolding trading setups. Beginners can use Trading Central to identify opportunities in real-time, whereas advanced traders can make use of Autochartist’s performance statistics, volatility analysis, and price range forecasts.

Autochartist’s penetrating analyses
Autochartist’s penetrating analyses


The dedicated blog section of the website is where traders and investors can read about derivatives, FX, Crypto, and more. This is also where you can access Swissquote’s webinar page. The blog provides a 360-degree real-time of current market trends that complements Swissquote’s other research tools. About 1-2 materials are published on average per month.

Swissquote’s rich blog section


If trading analyses and market news are a trader’s bread and butter when it comes to market research, then Swissquote’s magazine is more like the cherry on top of its supporting content cake. It is a unique feature that I have not seen before in another broker. The magazine does not provide any information that can be used directly for trading, though its articles cover a range of interesting topics that are sure to keep you entertained and engaged.

Swissquote’s latest magazine cover and its table of contents
Swissquote’s latest magazine cover and its table of contents


Finally, there is Swissquote’s super user-friendly trading podcast that you can listen to even on the go. I can recommend it to those who wish to stay on top of market trends but lack the time to stay glued to a screen and follow market developments 24/7.


How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

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Swissquote also has a well-balanced and extensive collection of educational materials that can be advantageous to both newbies wanting to learn the basics of trading and experienced traders wanting to polish their skills. I appreciated Swissquote’s layered content, covering everything from technical and fundamental analysis to the psychology of trading.

On Swissquote’s YouTube channel, you can access a vast collection of educational videos, webinars, and platform videos. Content is available in multiple languages, including English, French, and Chinese. Webinars are also available in German, Italian, Spanish, Czech, and Arabic. I quite like that they cover topics related to fundamental and psychological analyses. The broker also has regular seminars.

Swissquote’s educational books
Swissquote’s educational books

Swissquote also has an impressive 18 educational books on trading, forex, and crypto, that are highly detailed and far-reaching. Traders can also try out its 3 courses – ‘Trade the Right Way’, ‘Master Forex’, and ‘Master Options’. For first-timers, there is also an extensive glossary.

Swissquote’s educational courses
Swissquote’s educational courses

The Bottom Line

Swissquote is a trusted bank that has been serving traders and investors since 1996. The company has been listed on the Swiss exchange since 2000, underscoring its trustworthiness and professionalism. Swissquote is authorized in multiple jurisdictions and has licenses from some of the strictest financial regulators.

What traders can gain the most from working with Swissquote, apart from the piece of mind of having a reliable partner, is access to 450+ Forex and CFD instruments and over 3 million other products. Swissquote’s proprietary platform, Advanced Trader, is feature-rich, highly customizable, and overall very sophisticated. Traders are also given access to some of the best third-party tools and plugins, such as Trading View, Autochartist, and the MetaTrader Master Edition.

Swissquote has access to deep liquidity and accommodates fast order execution, though it does not have a best execution policy. Its research content provides a 360-degree view of market developments, while its educational materials are layered and penetrating. Its supporting content is useful to both beginners and experienced traders.

The areas in which Swissquote can work towards improving its service are fees and account types. With a minimum deposit requirement of $1000 and floating spreads starting from 1.7 pips on its Standard account, its most affordable service does not have particularly favorable costs.

Overall, I quite like what Swissquote has to offer, being one of the best-known names in the trading industry, and, in my opinion, catering to all kinds of traders.


Where is Swissquote based?
Swissquote is headquartered in Geneva, Switzerland. It also has offices throughout Europe and Asia.

Is Swissquote safe?
The bank can be considered safe as a whole. It has multiple top-tier licenses and is listed on a major exchange. However, its Swiss entity does not ensure negative balance protection, and it does not have a best execution policy.

Is Swissquote good for beginners?
Swissquote is an excellent choice for beginners. It has a rich collection of research and educational content, reliable customer support, intuitive platforms, and multiple supporting tools.

What is the minimum deposit for Swissquote?
The minimum deposit requirement is $1000.

How do I withdraw money from Swissquote?
Clients of Swissquote can withdraw funds via bank transfer, credit, or debit card.

How long does it take to withdraw money from a Swissquote account?
Swissquote usually processes withdrawal requests in up to 1 business day. Transaction times may vary.

What is Swissquote’s maximum leverage?
The maximum leverage for retail traders with Swissquote is 1:100.

How do I open an account with Swissquote?
Accounts can be opened from the main page of the website.

Which platforms does Swissquote offer?
Swissquote incorporates MetaTrader 4 and MetaTrader 5, and it has its own proprietary platform Advanced Trader.

Does Swissquote offer a demo account?
Yes, it does.

Is Swissquote suitable for scalping?
Yes, Swissquote permits scalping. Its access to deep liquidity is also good for fast order execution.

Is Swissquote suitable for auto-trading?
Yes, auto-trading is available with Swissquote. Traders can use MetaTrader’s Expert Advisors (EAs) feature and Advanced Trader’s complex order types.

Is Swissquote suitable for hedging?
Yes, hedging is allowed with Swissquote.

Is Swissquote suitable for spread betting?
No, spread betting is not available with Swissquote.

Does Swissquote provide VPS hosting?
No, Swissquote does not provide VPS hosting. However, a FIX API plugin is available.

What are Swissquote’s trading hours?
Depends on the particular asset class. For instance, the Forex market is open 24/5, whereas shares of U.S. companies can be traded during the New York Stock Exchange (NYSE) open – Monday to Friday from 09:30 a.m. to 4 p.m. EST.

Is Swissquote a market maker?
Swissquote operates on an STP (Straight-Through-Processing) basis without a dealing desk.

Does Swissquote operate a bank?
Swissquote is a licensed bank itself.


Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.

See Swissquote Bank Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Foundation Year
FCA UK (United Kingdom), CySEC (Cyprus), FINMA Switzerland (Switzerland), MFSA Malta (Malta), DFSA (United Arab Emirates), SFC Hong Kong (Hong Kong), MAS Singapore (Singapore), CSSF Luxemburg (Luxembourg)
Publicly Traded
Number Of Employees
Trading Desk Type
Bank, Market Maker, No dealing desk, STP
Trading platforms
MT4, MT5, Advanced Trader
Restricted Countries
United States, Russian Federation, Belgium, Turkey, Japan, Canada, Hong Kong, Morocco, Uruguay, Singapore, Malta
Supported Languages
English, Spanish, German, French, Arabic, Russian, Chinese, Czech, Italian
Min Deposit
Max Leverage
1:30 (FCA UK), 1:30 (CySEC ), 1:100 (FINMA Switzerland), 1:30 (MFSA Malta), 1:30 (DFSA), 1:20 (SFC Hong Kong), 1:20 (MAS Singapore), 1:30 (CSSF Luxemburg)
Deposit Options
Wire Transfer, Credit Card, Visa, Mastercard
Withdrawal Options
Wire Transfer, Credit Card, Visa, Mastercard
Time to Withdrawal
Time to Open an Account
Bitcoin Cash, Ethereum Classic, Bancor, 0x, Bitcoin, Cardano, Dogecoin, Litecoin, Ripple, enjincoin, Solana, The Sandbox, Avalanche, EOS, Ethereum, Polkadot, Chainlink, Tezos, Polygon, Cosmos, Decentraland
Products (CFD)
Currencies, Commodities, Indices, Stocks, Bonds, Options, Crypto
Demo Account
Islamic Account
Segregated Account
Managed Account

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