Swissquote Forex Trade Platform and Broker Review

Swissquote Forex Trade Platform and Broker Review

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Swissquote Broker Review

Swissquote is a Swiss bank and broker which is a leading provider of online financial and trading services. Swissquote caters to private and institutional clients. 

Swissquote was first founded in 2000 is headquartered in Gland, Switzerland, with main offices in Zurich, Bern, London, and Dubai. The Swissquote Group currently employs 805 staff.

Is Swissquote Regulated?

Yes, Swissquote is regulated by the Financial Conduct Authority (FCA) in the United Kingdom.  

According to the official website, Swissquote is under regulation for offering licensed brokerage and investment services within the United Kingdom and the European Union. 

Swissquote’s regulations guarantee high ethical, security, and transparency standards, so its customers can trade with total peace of mind.

Is Swissquote Regulated in the United States?

No, Swissquote is not regulated in Virginia or any other US state. 

Is Swissquote Regulated in Europe?

Yes. Swissquote has been regulated in Europe since 2012 by the Financial Conduct Authority. In Europe, Swissquote offers cross-border investment services as a regulated Forex broker Europe. 

Is Swissquote regulated in a Tier-1 Jurisdiction?

According to the Swissquote website, Swissquote is regulated under Tier-1 jurisdiction. 

Being regulated in a Tier-1 jurisdiction means that the broker has a license to provide investment services in one or more of the following countries: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

Is Swissquote regulated in Tier-2 Jurisdiction?

According to the official Swissquote sources, Swissquote is regulated under Tier-2 jurisdiction. 

Tier-2 jurisdiction means that the broker is regulated to offer licensed services in the British V.I., Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

What are the Platforms and Tools for Forex Trading in Swissquote?

Swissquote offers three proprietary trading platforms, which consist of the eTrading platform, the Swiss DOTS platform, and the Themes Trading platform.  

  1. The eTrading platform from Swissquote is intuitive, accurate, and efficient and provides several advanced features, including widgets, an integrated watchlist, trend radar, and a quick search function. 
  2. The Swiss DOTS platform from Swissquote provides access to more than 90 000 products for derivatives trading specifically. The platform has various underlying including equities, indices, ETFs, currency pairs, and commodities.
  3. The Themes Trading platform integrates news feeds from global currency trends allowing users to trade on the basis of comprehensive fundamental analysis. 

Does Swissquote Have a News Blog for Forex News?

Yes. Swissquote has a free news blog available on its official website. The Swissquote news blog can be accessed via the dedicated Newsroom area on the website, which has both morning news updates and themes trading news. 

Does Swissquote Have a Traders Dashboard?

No, Swissquote does not provide a Traders Dashboard. This is a central feature on some broker’s websites that integrates multiple data streams for technical and fundamental analysis. 

Does Swissquote Have an Educational Section?

Yes, Swissquote has an education system for Forex Traders. To join the education system, users can navigate to the dedicated Education section on the Swissquote website. 

What is the content of Swissquote Forex Education?

The Swissquote Forex Education has three different resource categories, consisting of courses, webinars, and eBooks. 

The courses section has two lectures, listed below. 

  1. Trade the right way
  2. Master Forex

The webinars section has several changing lecture topics, the latest of which is Thematic Investment Strategies

The EBooks section has 12 lectures, which are listed below. 

  1. Introduction to Forex trading
  2. Chart patterns
  3. How to trade with Japanese candlesticks
  4. How to manage risk in Forex
  5. Introduction to Forex options
  6. Introduction to bond investing
  7. Introduction to stock investing 
  8. Building a diversified portfolio
  9. Swiss DOTS
  10. Themes Trading
  11. Cryptocurrencies: from Bitcoin to Ether
  12. Cryptocurrencies: chainlink, Tezos, and more

This is an excellent educational offering from Swissquote that should be used by all beginner traders. Intermediate traders will also benefit from the two technical lectures in the eBooks series on the broker’s trading platforms. 

Is Swissquote Legit?

Yes, Swissquote is a legit Forex Broker and Trade Platform. Swissquote has an FCA legal certificate to perform Forex Broker and trading services.

Is Swissquote Safe?

Swissquote is a reliable and safe Forex Trade platform in terms of its regulation and safety protocols. The broker is regulated by the Financial Conduct Authority (FCA) in the UK and the EU. 

In terms of its safety protocols, Swissquote uses enhanced security services based on cutting-edge technology. 

Is Swissquote a Good Broker?

Yes. According to the Forex Suggest review, for security, trading speed, online support, and cryptocurrencies, Swissquote is a good broker. 

  1. In terms of trading speed, Swissquote has an average execution speed of 9 milliseconds. Swissquote’s technological infrastructure, with trade servers in premium locations, ensures that users experience the lowest latency and fastest execution.
  2. In terms of security, Swissquote is highly regulated by the Financial Conduct Authority, and also provides further data security protection measures including encryption and two-step authentication. 
  3. In terms of online support, Swissquote allows traders to contact its customer support team through a dedicated live chat function. This will allow clients to have their questions resolved in real-time.  
  4. In terms of cryptocurrencies, Swissquote allows clients to trade all 17 cryptocurrencies with low fees and exchange cryptos against fiat currencies.

What is the Offering of Investment in Swissquote?

Offerings of Swissquote can be found below.

Feature Swissquote
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  Yes

Does Swissquote have Nasdaq?

Yes, Swissquote offers traders the option of trading CFDs on the Nasdaq 100 Stock Index. The Nasdaq is an American electronic marketplace that lists the biggest companies in the world for global stock trading by investors.

What are the awards of Swissquote?

According to the official sources and Forex Trading platforms, Swissquote does not have any awards listed on its website to date. However, the broker is known for offering award-winning services.

How to Use Swissquote for Forex trading?

To use Swissquote, a forex trader should have the necessities below:

  1. A copy of their identification documents
  2. They should be 18 years or older. They should not be a resident of the United States, where Swissquote services are not offered
  3. They should be able to afford the minimum deposit of $1000

If a Forex Trader has the conditions above, they can open a forex trading account to use Swissquote. 

How to open a Forex trading account with Swissquote?

To open a Forex Trading account with Swissquote, a trader should follow the steps below.

  1. To open an account via post with Swissquote, you can send signed documents including a notarized copy of your passport and proof of address by post to the following address:

Swissquote Bank Ltd
Ch. de la Crétaux 33
Case Postale 319
CH-1196 Gland

  1. Alongside the postal option, you can also complete the account opening directly online. This means you can sign the contract online with confirmation. 
  2. You can confirm your identity via video conferencing or by uploading a copy of your passport. If you choose to upload a copy of your ID, you must use a Swiss bank account for the first transaction of your new Swissquote account.
  3. After giving your personal data to register for a new account on the official Swissquote website, you will receive guidelines about digital account opening and the required documents.

What is the Forex Trader Account Types with Swissquote?

Forex Trading Platform and Financial Asset Management Institution Swissquote have 6 different account types. Every Forex trading account type has different features and conditions with Swissquote. 

Swissquote Account Types are listed below. 

  1. Demo Account

  2. Trading Account

  3. Forex Account

  4. Robo-Advisory Account

  5. Crypto-Assets Account

  6. Islamic Account 

  • Demo Account

Swissquote provides a demo account that will allow traders to test out the different trading features of its various accounts and trading platforms. 

  • Trading Account

The Trading Account from Swissquote grants traders 3 million products on 60 stock exchanges and Competitive pricing starting from 9.-

  • Forex Account

The Forex Account from Swissquote allows users to trade more than 130 instruments FX & CFDs with 3 cutting-edge platforms: Advanced Trader, MT4 & MT5. Users also get premium plugins & tools to find the best trading ideas.

  • Robo-Advisory Account

The Robo-Advisory Account from Swissquote allows users to customize their portfolio management with a tailor-made investment platform. 

The account offers the 1st automated asset manager in Switzerland and is customizable with a vast multi-asset investment universe.

  • Crypto-Assets Account

The Crypto-Assets Account from Swissquote provides crypto solutions with 12 major cryptocurrencies with low fees and multiple crypto-asset classes for enhanced diversification.

  • Islamic Account

Traders of the Muslim faith can apply directly to the Swissquote customer support team for an Islamic Account. This account is swap-free, a type of trading interest that is strictly prohibited by Sharia law.

How to Withdraw Money from Swissquote?

To withdraw money from Swissquote, the following should be done:

  1. Traders wishing to withdraw funds should navigate to the ePortal within their account settings
  2. Here, they can select the option to withdraw
  3. Choose the type of withdrawal method you prefer
  4. Provide the amount you would like to withdraw 
  5. For withdrawals via wire transfer, the broker lists the relevant SWIFT codes and bank details within the Support section.

How many days do deposits take with Swissquote?

Deposit times will vary depending on the chosen deposit method. Processing times are instant for credit cards and 1 – 3 working days for wire transfer.

What are the costs and fees with Swissquote?

There are two types of costs with Swissquote. Spreads are charged to all account holders, and swap fees will consist of interest accrued to positions held overnight.  

A Forex Trading Cost is one that will apply to the trader for using the Swissquote brokerage services and can be charged in different ways. Spreads are the difference between the bid and the asking price and are represented in pips. Swap fees are interest charged on positions held overnight. 

The Forex Trading Fees with Swissquote are below. 

Spreads:

  • Spreads start from 0.6 pips. Popular pairs such as the EUR/USD are around 1.3 pips

Swaps:

  • These will vary according to the instrument being traded and the conditions pertaining to the specific position

What are the Trading Fees with Swissquote?

Swissquote trading fees consist of swaps and spreads, as well as an inactivity fee of 10 account currency units per month after 6 months of inactivity.

Muslim traders can apply for an Islamic swap-free account and avoid incurring swaps on positions held overnight. 

What is the minimum deposit in Swissquote?

Swissquote has a minimum deposit requirement of $1000

What are the contract specifications in Swissquote?

Feature Swissquote
Forex Trading Yes
CFDs 4
Forex Pairs 75+
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 17
Social Trading  No

Does Swissquote have promotional offers?

No, Swissquote does not provide promotional offers or bonuses to its new or existing clients. This is primarily due to the fact that the broker is regulated by the FCA, but also because it is a banking institution as well as a brokerage. 

Does Swissquote have a welcome bonus?

No, Swissquote does not offer a welcome bonus. 

However, Swissquote is a leading STP broker, which is an automated process done purely through electronic transfers with no manual intervention involved. This means that traders get the best price directly from the market. 

Does Swissquote have a deposit bonus?

No, Swissquote does not offer a welcome bonus.  This is due to the fact that Swissquote’s regulators restrict the broker from offering a deposit bonus. 

Is there a commission-free trade bonus in Swissquote?

No, Swissquote does not offer a commission-free trade bonus. The broker does however offer commission-free trading.  

Is there a VIP bonus in Swissquote?

No, Swissquote does not offer a VIP bonus. The broker does not offer a VIP account for high net-worth clients. 

Can you start trading with no money at Swissquote?

No, you cannot start trading with no money at Swissquote. This is because Swissquote does not offer any deposit bonus, therefore traders will need to deposit their own funds when opening a Trader Account.

How does leverage work with Swissquote?

Leverage can be essentially understood as funds that are borrowed from the broker that allows a trader to increase their trading position. While leverage can increase potential profits, it can also amplify losses. 

Traders can use leverage with Swissquote by setting their preferred margins from within the settings on their personal accounts.  

Where are the headquarters of Swissquote?

Swissquote is headquartered in Gland, Switzerland, with main offices in Zurich, Bern, London, and Dubai. 

Who is Swissquote’s CEO?

The CEO of Swissquote is Marc Buerki. He was educated at the Swiss Institute of Technology and has extensive experience in the financial industry. 

What are the social media accounts of Swissquote?

Traders can follow Swissquote on the following social media accounts:

  • Twitter
  • Facebook
  • Instagram
  • YouTube
  • LinkedIn

How many employees do work for Swissquote?

According to the official Swissquote website, Swissquote has over 805 employees.

What are the opinions about Swissquote?

Swissquote is a good option for more advanced traders seeking tailored trading solutions and feature-rich platforms. Beginner traders are also catered for with a comprehensive education section.  

What are Swissquote Contests?

Swissquote does not run any kind of Forex Trading Contests. Forex Contests can be performed for brokers who offer them to traders to profit on contest winnings. 

Swissquote didn't perform any Forex Contest in the past. For future forex exchange contests and competitions, Swissquote didn't perform any official announcements yet.

Does Swissquote have online support?

Yes, Swissquote has an online support team for Forex trade account users. The online support team can be reached by using the chat button on Swissquote's official website. 

Does Swissquote offer demo accounts for Forex trading?

Yes, Swissquote offers a free demo account for all new traders. The demo account can be opened with the following steps:

  1. Navigate to the demo account registration portal on the broker’s website
  2. Fill in the online registration form 
  3. Get account number and password.
  4. Download the platform and log in using the received data.
  5. Start forex trading on a demo account.

Does Swissquote have a mobile app for Forex trading?

Yes, Swissquote offers a proprietary mobile app for Forex Traders. 

The mobile app has distinct trade features, including dynamic graphs and real-time price changes. Users can trade themed portfolios, and enjoy a secure and fast trading environment.

Does Swissquote publish an economic calendar?

An economic calendar is a vital trading tool that lets Forex traders stay updated on relevant economic information that is scheduled to be released, which may impact the currency markets and impending trades. 

Swissquote does not offer an economic calendar.

What is the communication information of Swissquote?

Swissquote has three telephone numbers and five local addresses. 

Swissquote’s main telephone number is: 0848 25 88 88

Swissquote’s main local address is: Ch. de la Crétaux 33 Case Postale 319 CH-1196 Gland

Alternate phone numbers are:

Forex bank: +41 44 825 87 77

Robo-advisory: +41 44 825 88 55