Broker «Swissquote» Review

Swissquote2 min read

Broker Review

Swissquote Bank was founded in 1996 and is considered the titan of the foreign exchange market. Acts as a global partner of the Manchester United club. It offers popular financial services: online banking, lending, robo-consulting and Forex trading. Traders trade on a professional platform, provides training, online lectures, demo accounts.

Platforms

Usability

Assets

Users rating13 Votes

Pros Broker

Wide range of trading assets

Offers EU deposit insurance

Well regulated by FCA

Unique social network (Pulse)

Cons Broker

More for experienced traders

Doesn’t accept e-wallets

High minimum deposit

Own platform is not easy to use

Overall Broker Rating

Visit Broker

Swissquote

Review of the company

Swissquote Forex Broker is a company established in 1996. The main activity of the company is the provision of online trading services to market participants. It all started with Marvel Communications SA, which was founded in 1990 by entrepreneurs Paolo Buzzi and Mark Burke. Marvel’s core business was financial software and online application development. Swissquote, having begun its work in the securities market, entered the Swiss Stock Exchange. At the moment, the broker is a leader in online trading and among financial services in Switzerland. Also, the official website of the company is visited monthly by 2 million users. Worldwide, Swissquote is one of the top ten global online brokers. In 2000, the company placed its shares on the Swiss Stock Exchange SIX Swiss Exchange.

Promotions, bonuses

The company has three main trading platforms that are suitable for different customer needs. AdvancedTrader allows you to trade in the foreign exchange market, as well as precious metals, CFDs. Hedging and complex types of orders are possible.

MetaTrader 4 also includes automated trading and providing each client with a personal manager. A MetaTrader 5 account adds the default FIFO service to all the advantages of a previous trading account.

The affiliate program allows traders to receive additional income from attracted customers. There are these types of affiliate programs:

Partnership in a rebranding environment;
Liquidity decisions;
Introducing brokers;
Fund manager.

Trading advantages

Swissquote brokerage is regulated by financial institutions. By joining the company, clients and partners of the broker get the maximum benefit from a number of advantages. Swissquote adheres to Swiss banking standards. Transparency and security are the basic principles of a brokerage company.

To maximize profits, the company’s customers use marketing research developed by Swissquote, have access to training information and trading tools. The communications department provides 24/7 customer support on weekdays. Swissquote Group has over 500 employees. The broker has offices in London, Hong Kong, Dubai and Malta. These representations provide services to customers from 120 countries.

Trading interface

The company offers its customers a choice of three trading platforms: MetaTrader 4/5 and its own proprietary trading platform AdvancedTrader. All platforms are adapted for mobile devices. Swissquote Ltd regulated by the FCA in the UK does not offer the AdvancedTrader platform, leaving only the MetaTrader 4 and MetaTrader 5 platforms. We tested the MetaTrader 4 platform from the British branch. The work of the platform left a good impression, very good order execution speed, spread from 0.2 pips, plus a commission of $7.

Deposit & withdrawal

Customers can deposit funds into their accounts using bank transfer and Visa and MasterCard credit cards. Withdrawal of funds is possible only by bank transfer. Withdrawal fee is $10.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Broker Screenshot

Full Broker Name

Swissquote Group Holding Ltd.

Deposit

Country

Founded

$/€/£ 1000

1996

Basic Information

Help Broker Country

Not all brokers offer their services to traders in each individual country in the world, and you need to make sure that any broker in which you «open an account» is fully licensed and regulated by the licensing authority of your country. The United States, Japan, the United Kingdom, Switzerland, Australia and the Eurozone offer strong regulation that you can trust. If you choose a broker based outside of these zones, make sure that the broker is regulated by proper regulation bodies.

This broker is located in: Switzerland

Country: Switzerland

Help Main Type of Broker

Broker - is a company that provides its customers with the opportunity to trade in the foreign exchange and other markets.

Market Maker (MM) - most often these brokers do not send orders to the interbank market, but only enter into transactions with the client, of course, they take prices from this market, that is, they create their own market.

Dealing Desk (DD) - a dealing desk broker is a market maker. Market makers typically offer fixed spreads and may elect to quote above or below actual market prices at any time.

No Dealing Desk (NDD) - an NDD forex broker provides direct access to the interbank market; it can be an STP or STP+ECN broker.

Straight Through Processing (STP) - its feature is to offer its participants entry / exit to the real exchange market and market prices, and they also have the right to execute orders immediately without involving the Dealing Center.

Electronic Communication Network (ECN) - provides a trading place where all participants (banks, market participants and traders) trade against each other by bidding within the system.

Direct Market Access (DMA) - technology of access to the market directly, bypassing the broker. DMA offers better execution transparency: orders are sent to the market and are being filled according to available quotes provided by liquidity providers.

Type of Broker: STP/ECN

Help Main Regulations

National Futures Association (NFA) - is a national futures organization that controls financial companies in the United States.

Financial Conduct Authority (FCA) - is an independent non-governmental financial regulator controlled by the UK Treasury.

Bundesanstalt für Finanzdienstleistungsaufsicht (BAFIN) - is the German Federal Financial Supervisory Authority, which is the central authority over financial markets and companies located in that country.

Markets in Financial Instruments Directive (MiFID) - is a special EU directive developed by the FCA to monitor financial transactions in the 27 member states of the European Union.

Cyprus Securities Exchange Commission (CySEC) - state regulatory body of investment and currency organizations in the Republic of Cyprus. As Cyprus is a member of the EU, the work of the Cyprus Commission is carried out in full accordance with the approved EU standards (MiFID European Directive).

Australian Securities Investments Commission (ASIC) - it is an Australian securities regulator that oversees the activities of financial markets.

Swiss Financial Market Supervisory Authority (FINMA) - is the Swiss government body responsible for financial regulation.

Regulation(s): FINMA, DFSA, MFSA, SFC FCA

Help Main Types of Platforms

MetaTrader - is the most popular and widespread trading platform. Millions of traders around the world trade on it.

WebTrader - is a terminal for online trading in an Internet browser. WebTrader is developed on the basis of MetaTrader and can work separately as an independent trading system.

cTrader - is designed for trading on the ECN market and uses STP and NDD technologies, which guarantees the broker's non-interference in the trading process.

NinjaTrader - is a high-end platform for professional trading in both currencies and stocks, futures and other exchange-traded instruments.

MirrorTrader - is a trading platform that provides unique tools for trading: real-time signals, charts, indicators, oscillators and various helpers for studying the chart.

xStation - is a multi-functional trading platform, perfect for manual traders, hedge fund managers and social traders.

SIRIX WebTrader - is a trading platform provides instant access to global financial market trading (Forex and CFD) and a social network of traders.

Trading Platform(s): MetaTrader 4, MetaTrader 5, AdvancedTrader

Help Main Types of Assets

Currency Pairs (Forex) - the foreign exchange market is the largest financial market in the world, with thousands of related participants.

Contract for Difference (CFD) - an agreement between two parties, commonly referred to as “buyer” and “seller”, to pay each other the difference between the price of opening a position and the closing price of a position on a traded instrument.

Exchange Traded Funds (ETF) - are a type of investment fund that tracks underlying assets like indices, bonds, commodities and divides ownership of those assets into stocks.

Stock Market Indices - are financial instruments that represent the value of the underlying publicly-traded companies.

Equities - also known as stocks, are stocks that are owned by state-owned companies. Within this asset class, there are further differences between stocks with large, medium and small capitalization.

Options - this is a type of contract that provides the right to buy or sell a certain amount of an asset at a certain price on a pre-defined time.

Crypto - works exactly the same way as the classic version of the contract for difference in prices (CFD).

Types of Assets: Forex, Crypto, Indices, Metals, Energies, Stocks, Bonds, ETFs, CFDs

Help Accout Currency

A foreign exchange account, or Forex account, is used to hold and trade foreign currencies. Typically, you open an account, deposit money denominated in your home country currency, and then buy and sell currency pairs. Your purpose, of course, is to make money on your trades.

Accout Currency: USD, CHF, EUR, GBP, JPY, HKD, CAD, AUD

Trading Сonditions

$/€/£ 1000 Minimum Deposit:

$/€/£ 0.01 Minimum Trade:

Yes Demo Account:

Yes Crypto Trading:

Yes Social Trading:

Yes Analytics:

Yes Education:

1:100 Maximum Leverage:

Yes Allows Scalping:

Yes Allows Hedging:

0.2 - 3 pips Average Spreads:

Payments Method

Maestro VISA Mastercard Bank Transfer UnionPay

New Brand «Deriv» On The Market
Binary.com trading platform for options in financial markets, has rebranded in Deriv.com with new products and enhanced user experience, continuing its mission of serving customers in the future with …
Consob Blacklisted 5 Forex Sites
Italian investors have been warned not to use any financial services from SMART FX. They were also warned about Warp Enterprise Ltd, Pro Consulting Invest, Gntfin LTD and Global Finance FX. CONSOB, …
AvaTrade Online Broker Adds MetaTrader 5
Representatives of the international forex and CFD broker of Irish descent, AvaTrade, exclusively told the editors of Finance Magnates about supplementing their offer with the opportunity to trade on …
Forex Broker TRADE Makes Spread Betting Massive
TRADE.com has expanded the offer for retail investors in the UK and Ireland by adding tax-free transaction types available through WebTrader. Spread betting was once considered the privilege of City …
Forex Accounts for Only 8% of Suspicious Transactions
The British regulator FCA received 69 reports on manipulations in the foreign exchange market in a year – out of a total of 822 reports. The UK regulator, FCA Financial and Supervisory …