Swissquote Bank Review

  • Regulated by: DFSA, FINMA, MFSA, SFC
  • Headquarters: Switzerland
Website : Swissquote
Established : 1996
Country : Switzerland
U.S. Clients Allowed : No

Swissquote was established in 1996 and is one of the most recognized bodies in the online trading market. It is an online broker which is part of the Swissquote Group, headquartered in Switzerland.  Though its roots are in Switzerland, it has offices in many major locations such as Bern, Dubai, London, Malta, Hong Kong and Zurich. Over the years Swissquote has catered to the clients’ needs by providing them with high quality trading services, the most recent addition being online mortgages it offers in collaboration with major financial institutions in Europe. Swissquote has made a mark in the industry with early adoption of newer technology and ever changing market trends, it has helped it gain an edge over its peers in the industry.

Swissquote Bank Regulations

As Swissquote is based in Switzerland, it is regulated with one of the best financial authorities in the country, i.e Financial Market Supervisory Authority (FINMA). Moreover it is also affiliated with Swiss Bankers Association. FINMA is a power economic institution which is responsible for the supervision of the financial industry in Switzerland, with a regulatory bank like that; the traders can trust Swissquote with their funds and their trading needs.

Reliability

swiss quote reliability

Although legally a bank, Swissquote was named as the ‘Best Online Broker’ in Switzerland in 2010. Their website has more than 2 million visits daily and it is regularly quoted by some of the most reputed news channels like CNBC, Bloomberg, The Wall Street Journal, Financial Times and Reuters as a source of financial news; all of the above leave no doubt about the reliability of Swissquote bank as an online broker. In addition to the abovementioned Swissquote has been listed on the Swiss Market Exchange (SIX Swiss Exchange) since 29 May 2000 under security number 1067586 and ISIN number CH0010675863.

Swissquote Bank Trading Platforms

Swissquote Bank has provided its clients with a choice of 3 main trading platforms – the Advanced Trader, the MetaTrader 4 and the MetaTrader 5, to cater to their diverse clientele.

The Advanced Trader

swiss quote the advanced trader

To meet the unique trading requirements of Swissquote, the Advanced Trader is an award-winning trading platform that has been developed in-house. It comes with 27 main technical indicators and 17 indicators that the traders can overlay onto their charts. It projects a real time new feed from sources like Bloomberg and Swissquote. It supports multiple types of market orders however; its automatic pattern detection ability is its most powerful feature. This helps traders save valuable time and effort.

The MT4

MT4 is a popular choice of trading platforms, highly regarded by both, the brokers and the traders. It comes with a bunch of features like comprehensive charting packages and a host of technical trading indicators, which are all integrated into the platform. This aside, it is most popular for its automated trading support through its Expert Advisors feature.

The MT5

It’s an improved version of the already powerful MT4 trading platform. In addition to the features of MT4, it boasts of addition features such as copy trading, along with automated trading. It also allows traders to create their own technical indicators and customize their charts with over 21 different time frames.

Sophisticated Trading Tools

swiss quote trading tools

Swissquote Bank has also provided extra advanced trading tools to their traders for free to further their trading skills, such as Autochartist market scanner and FIX API. To have better connectivity with the market participants, traders use the FIX protocol (Financial Information Exchange). The Swissquote Bank’s FIX API, enables the traders to plug in their MetaTrader platforms to the interbank market to gain better control of their trades.

Swissquote Bank Mobile Trading

Swissquote bank has made available mobile trading apps on Android & IOS, free of charge for their traders who like to stay abreast with the latest market movements on the go; having access to the markets directly from their smartphones, they are better suited to monitor the status of the trading accounts and other developments on the move.

Swissquote Bank Trade Types/Instruments

Swissquote Bank offers access to over 2 million different financial instruments, which covers asset classes such as warrants, indices, futures options, forex, commodities, investment funds, stocks, EFT/ETP, bonds and cryptocurrencies; all of these instruments can be traded in spot markets or CFDs

Swissquote Bank Account Types

Three types of accounts are on offer at Swissquote bank – Standard, Premium and Prime. The standard account does not require any minimum opening deposit whereas the premium and the prime account require a deposit of $25,000 & $100,000 respectively. 30 –day free demo account is also available for novice traders to hone their skills before they take on to live trading.

Swissquote Bank Commissions & Spreads

Swissquote Bank charges no commissions on the trades; the broker makes money via the small spread that the traders are required to pay on their trades.  The spreads are competitive from an industry standard.

Swissquote Bank Deposits & Withdrawals Options

The Swissquote Bank allows deposits and withdrawals via four main types of payment methods – Bank deposits, Bank wire transfer, credit cards and China UnionPay.

Swissquote Bank Customer Support

swiss quote customer support

Swissquote bank offers customer support on 24/5 basis, the mediums one can use to get in touch with them are – live chat, fax or telephone. A call back can be requested through a contact form provided on the website. To serve a global clientele, the website of Swissquote bank can be translated into 9 different languages.

Swissquote Bank Q&A

·         Is Swissquote Bank regulated?

Yes, Regulated by FINMA, the Swiss Financial Market Supervisory Authority, Swissquote bank is a reliable broker.

·         Where is Swissquote Bank based?

Their head office is located in the city of Gland, Switzerland.

·         How does Swissquote Bank make money?

Typically Swissquote Bank makes money by charging traders a small spread on the trades that they made.

·         How to deposit in Swissquote Bank account?

Swissquote Bank allows deposits through bank wire transfer, credit cards, China UnionPay and direct bank deposits.

·         How to withdraw money from Swissquote Bank?

Swissquote Bank allows withdrawals through bank wire transfer or by credit cards.

·         How to open an account with Swissquote Bank?

One needs to first fill up the registration form and then submit it with all the necessary documentation to open an account with Swissquote Bank.

·         Is Swissquote Bank reliable?

Yes, Swissquote Bank is a reliable broker with years of experience to back it up.

·         Does Swissquote Bank use MetaTrader?

Yes, both the MetaTrader 4 and MetaTrader 5 trading platforms are used by Swissquote Bank

·         What is Swissquote Bank’s leverage?

By default, The leverage at Swissquote Bank is at 1:100.

·         Is Swissquote Bank a scam?

No, It has been in business since 1996, hence is a trusted entity.

Conclusion

Swissquote bank has been operational since 1996 and has years of experience and trust within the trading community. It understands trade and provides all the tools required for traders to prosper and grow. Finally, by offering no minimum deposit to open a standard trading account, it has made it easier for traders to enter the market.  We say it is a good choice for all your trading needs!

Swissquote Rating

Swissquote Rating
9.2

Easy to use

9.2 /10

Fees

9.2 /10

Support

9.2 /10

Payment

9.2 /10

Pros

  • It has multiple choices of trading account
  • No minimum deposit requirement to start an account
  • It is a reputable and regulated broker
  • It offers a wide range of trading instruments

Cons

  • Confusing website interface
  • No 24/7 support
Ricardo Martinez

Ricardo Martinez

Ricardo Martinez has been active in the financial markets for around 10 years. In the early days in his career he was a trader and worked as market analyst in different online brokers advising clients on key decisions of trading instruments in foreign exchange and commodity markets. Ricardo is currently working as independent trader with diversified portfolio over different markets. His writing for LearnMarketonline is part of his commitment to share knowledge with traders.