Brokers
swissquote
Min. Deposit: $100
Regulated By:FINMA
Headquarters:Switzerland
4.15
Based on 11 User Reviews

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Swissquote Video Review

Swissquote Review
Swissquote Review

Swissquote Bank Ltd specializes in providing online forex and financial trading services. Its parent company, Swissquote Group Holding SA, has been listed on the SIX Swiss Exchange under the ticker symbol “SQN” since 2000. The Swissquote trading platform is one of a handful of forex brokers that operates out of Switzerland and because they are a licensed and regulated Swiss bank, the platform is highly trusted among traders in the online forex trading community. Hence, it is not surprising to find that this broker is currently serving more than 200,000 institutional and private clients.

Trading Platforms

Swissquote - Trading Platforms
Swissquote – Trading Platforms

The mainstay of the trading platform provided by Swissquote to their clients is their proprietary Advanced Trader. The platform was designed to operate seamlessly as a desktop application, web application or Mobile Trader hence allowing traders to take advantages of any trading opportunities that present themselves to the traders.

In addition to the Advanced Trader trading platform, Swissquote also offer their clients the choice of two other platforms developed by Metaquote Software Ltd namely the MetaTrader 4 (MT4) and the MetaTrader 5 (MT5). The MT4 is regarded as the industry standard trading platform with comprehensive trading features that helps to enhance the trading ability of traders. The MT5 trading platform represents an upgrade off the MT4 with numerous new features integrated into the trading platform. With all these different trading platforms, traders switching from other brokers need not worry about the trading platforms that they will work with at Swissquote.

Account Types

To open a live trading account at Swissquote, you will need to make a minimum deposit of $1000. Currently, Swissquote offer 3 different types of trading accounts:

  • Standard Trading Account ($1K to $25K deposit)
  • Premium Trading Account (25K to 100K deposit)
  • Prime Trading Account (Over 100K)

Commission & Spreads

No commissions are payable at Swissquote but traders do have to pay a widened spread on the assets which they are trading in. The spreads which are offered by Swissquote are variable and extremely competitive as well. For example, for frequently traded pairs like the EUR/USD, the minimum spread starts from 1.8 pips for the standard trading account, 1.6 pips for the premium trading account and 1.3 pips for the prime trading account. Even exotic currency pairs like the HKD/JPY, the minimum spreads can be as low as 0.6 pips for the prime trading account.

Customer Support

For the benefit of their non-English speaking clients, Swissquote has also made their website available in Arabic, Chinese (Simplified & Traditional), French, German, Italian, Russian and Spanish. As for the customer support services, they are channeled through email, live chat or the telephone. Swissquote’s traders can also request a callback from the broker if they prefer to save on their telephone call charges.

Pros

  • Choices of Trading Platforms
  • Competitive Spreads
  • Experienced Broker with wealth of experiences behind them
  • Reputable International Broker
  • Secured and Trusted Broker
  • Wide Range of Products

Cons

  • Does not accept U.S traders
  • Lack of Promotional Offers
  • Market Maker Broker
  • High Minimum Deposit Requirement

Conclusion

As part of an international banking group, there is no question about the reputation and reliability of Swissquote as forex broker. Regulated by the Swiss’s FINMA and the Emirates Securities and Commodities Authority in Dubai, Swissquote today is trusted by more than 200,000 traders from all over the world. The platforms and product range are extensive and are appreciated by traders of all experience levels. If you are looking for a forex broker with a solid reputation and an assurance that your money will be safe with them then Swissquote is the broker for you.

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