Complete Swissquote Review 2022 - Benefits and Drawbacks Revealed

Swissquote Bank UK is a subsidiary of Swissquote Bank Ltd. and is based in London. Swissquote broker is strictly regulated and authorized by the Financial Conduct Authority (FCA), and it has been in business since 1996. The forex and CFD broker offers over 160 instruments on its award-winning broker platforms, which include MT4, MT5, and a proprietary platform with over 330,000 users worldwide.

Swissquote Overview

Swissquote Group Holding Ltd is Switzerland's leading provider of financial and advisory services, and it is listed on the SIX Swiss Exchange. The multi-asset broker operates two banks and has offices in Asia, the UAE, the United Kingdom, and Europe.

In this Swissquote review, we will go over the platform's features, services offered, regulations, pros and cons, trading and investment platforms, complex instruments, trading costs, account types, and much more.

What Is Swissquote？

Swissquote was founded in London in 2000 and is one of the leading banks in online financial and credit services. It is headquartered in Gland, Switzerland, and has international offices in London, Bern, Zürich, Luxembourg, Dubai, Malta, Singapore, and Hong Kong. Swissquote is a publicly-traded online broker. It is listed on the SIX Swiss Exchange as Swissquote Group Holding Ltd, which is also listed on the SQN.

Unlike other similar brokers, Swissquote is regulated by some of the world's leading regulatory bodies, including the UK Financial Conduct Authority (FCA), the Swiss Financial Market Supervisory Authority (FINMA), the Dubai Financial Services Authority (DFSA), and the Securities and Futures Commission (SFC).

Swissquote offers funds, derivative products, bonds, forex, CFDs, cryptocurrency and stock trading, Robo-advisory, and mortgage solutions. It has over 330,000 users and easy access to more than 60 global stock exchange platforms, allowing traders to trade 3 million products on their safe and reliable trading platforms.

Swissquote broker has two main branches: the Swiss branch offers stocks, futures, funds, and options trading, whereas the UK entity only offers forex and CFD instruments. Swissquote has access to FSCS and Esisuisse funds protection, making this trading platform an excellent choice for investors and traders trading forex and CFDs.

Swissquote User Experience

Swissquote's website provides one of the best user experiences, thanks to its in-house trading platform Advance Trader, MetaTrader platforms, and account types. The proprietary platform is completely customizable. The user-friendly interface has a clean and appealing layout. Synthetic CFDs, as well as other financial instruments, are available for trading through the broker. Swissquote platforms have smart features that are primarily intended for automatic pattern detection.

This makes Swissquote one of the best brokers with advanced charting tools for beginners with little chart pattern analysis experience. The broker also provides a Robo-advisory service that has received positive feedback from customers. Swissquote traders have access to 8 timeframes, 17 overlays, 27 different indicators, and complex market orders such as OCO (Order Cancels Other) and If Done. The platform also has a hedging feature that is available upon request.

Swissquote's characteristics

Negative Balance Protection

If the company becomes insolvent, Swissquote offers negative balance protection and deposit protection of up to 8500 GBP. The multi-asset offering of negative bank account balance protection for trading CFDs and forex spot is only available to retail investor accounts opened in the European Union. This feature is not available to non-EU or professional clients.

Leverage

Swissquote clients had leverage limits of 30:1 for forex, 24:1 for index CFDs and precious metals, 10:1 for commodities CFDs, and 5:1 for bonds. Higher leverage allows traders to use borrowed funds to increase their positions. It is strongly advised that traders use low leverage until they are completely confident in their investment strategy.

Customer Care

Swissquote's customer service department is open five days a week, from Monday to Friday, from 8 a.m. to 8 p.m. (UK time). The support team is responsive and provides high-quality service with effective solutions on a wide range of topics, such as how to use platform APIs or recover forgotten passwords. Clients can contact the support team via email, live chat, phone, or by visiting their office in the United Kingdom.

Regulations

According to the Swissquote review and our research, the platform is regulated and authorized in the United Kingdom under the financial regulation of the Financial Conduct Authority (FCA) and reference number 562170. Swissquote, like the best forex brokers, offers negative balance protection as well as deposit protection of up to 8500 GBP. Several branches of Swissquote MEA Ltd provide a range of financial services to institutional and retail clients from offices in various regions, including Luxembourg, Malta, Dubai, Zürich, South Africa, Indonesia, and Hong Kong.

Awards

Swissquote has received several awards, including the Thomson Reuters Lipper Fund Award 2016, which named the company one of the best-performing equity funds over three years. It also won the Best Swiss Online Broker Award in 2001.

Clients

Swissquote regulated brokers provide over 160 FOREX and CFD financial instruments on award-winning trading and investment platforms to over 330,000 clients worldwide.

Swissquote's Services

Swissquote provides a wide range of services that are highly recommended for any trader, regardless of the level of experience. Swissquote traders can create complex trading strategies under risky trading conditions with the help of Swissquote's Expert Advisors (EA), basic tutorial videos, and low leverage in regular financial markets such as shares or forex.

The most significant barrier for most traders is the minimum. When compared to the industry average, the deposit requirement is relatively high. EU Swissquote forex traders prefer the Swissquote trading platform due to its zero-commission trading accounts and lower spreads, even though they are unable to access a broader range of instruments, markets, and payment methods on the Swissquote platform. Among the many financial services provided by Swissquote, the following are some of the most important:

• Trading Central Plug-in: Analyst perspectives, daily market reports, adaptive convergence divergence, and much more.

• Auto Chartist Plug-in: Provides trade alerts, automated technical analysis, event impact analysis, market volatility scanner, and many other features.

• MetaTrader Master Edition Plug-in: Provides additional trading and non-trading features such as Stealth Orders, Correlation Matrix, Mini Terminal, Trade Terminal, and more.

Customers can select from hundreds of copy trades or Expert Advisors from thousands of successful traders and investors. Strategic back-testing is another option. It provides over 130 trading market opportunities in forex, indices, precious metals, bonds, and commodities.

Is Swissquote Regulated？

Unlike other brokers in the UK, Swissquote is regulated by some of the world's leading regulatory bodies, including the Swiss Financial Market Supervisory Authority (FINMA) and the UK Financial Conduct Authority (FCA). The company is also governed by the Dubai Financial Services Authority (DFSA), which is an extremely difficult license to obtain.

This demonstrates that Swissquote LTD. is a secure and reliable ECN broker with a banking license for all traders worldwide. Furthermore, the Swissquote trading platform is governed by the Monetary Authority of Singapore (MAS), the Hong Kong Securities and Futures Commission (SFC), and the Malta Financial Services Authority (MFSA).

It should be noted that different banks are using the Swiss tag that may or may not be regulated or licensed in Switzerland. Clients should be aware of such websites because they may be unsafe and unregulated. Confusion may arise because Switzerland is frequently associated with high levels of confidentiality and the safety of client funds. Because of the aforementioned regulations, traders can always feel safe when depositing funds and trading with Swissquote.

Swissquote Review: Pros and Cons

Swissquote Trading Platforms Come in a Variety of Styles

eTrading

Swissquote has designed the eTrading web-based platform with clear features and easily navigable sections and functionality. The interface appears slightly outdated, and many users claim that the platform is heavily geared toward Swiss users. For example, the Swiss stock or financial markets rank first in Europe and the United States. The platform is highly customizable to meet the various trading needs of different clients.

Swiss DOTS

The Swiss DOTS environment includes over 90,000 derivatives with various underlying, such as indices, EFTs, equities, commodities, and exotic forex pairs. Swissquote clients who use Swiss DOTS can select from 19,000 Knockout Warrants, 55,000 Warrants, 1500 Factor Certificates, and 15,500 Mini features.

Themes Trading

Themes trading is another excellent trading platform that is exclusive to Swissquote market makers. The themes of investment and trading are based on a simple theme that includes:

• Online gaming

• Global recycling

• 5G revolution

• Football craze

The past performance and underlying portfolio of the structured product are efficiently documented on the Swissquote trading platform.

Mobile

Swissquote offers mobile applications that have access to the Advance Trader platform. Traders may download and install the program on their Android and iOS cellphones. Both the mobile app and the desktop platform support eight languages, and traders may effortlessly switch between the two, with simple access to advanced chart patterns and tools offered by Swissquote, real-time streaming quotes, complicated order types, and other trading capabilities.

The software supports both MT4 and MT5 platforms. This implies that traders utilizing automated trading methods may utilize the same algorithms and analytical tools that they used on their PC. Swissquote customers also benefit from financial news, push alerts on mobile devices, and community chat capabilities on the move.

Advanced Trader

Swissquote has a unique online platform, Advance Trader, that provides a configurable interface that allows traders to modify and configure the layouts according to their needs. The Advanced Trader platform includes order management capabilities as well as other robust built-in features. Traders who use the Advanced Trader platform get unique access to market news, and they may move between Web mobile and desktop versions with total mobility.

Metatrader 4

MetaTrader 4, an award-winning forex trading platform, is one of the most popular platforms in the market, used by all types of traders. The Swissquote MT4 platform is designed specifically for ordinary investors and traders, with a user interface that is simple to use. When compared to other platforms, there is no tolerance threshold. It provides quick transaction execution as well as extensive liquidity. Expert Advisors on the MetaTrader 4 platform may be used to create automated trading strategies (EA). It also provides quick live quotations, iPhone/Android applications, and real-time charts.

Metatrader 5

According to the Swissquote forex review, it also provides the MetaTrader software's newest generation MetaTrader 5 (MT5) platform, which includes all of the MT4 features, additional trading choices, and a different codebase. On iOS and Android smartphones, MetaTrader 5 also has a Master Edition, netting mode, and sophisticated charting features. MT5 offers one-click FX and CFD trading, real-time price quotations, social trading, copy trading, and significant back-testing tools.

Fix API

In addition to the platforms mentioned above, Swissquote's engineers provide another alternative to more skilled and sophisticated traders, FIX API. This API protocol may be integrated directly into an online trading platform to provide access to historical and real-time price quotations. This allows traders to execute trade orders using Swissquote. The API (application programming interface) allows traders to connect directly with the platform's liquidity providers, making it quicker and cheaper to trade CFDs and FX at Swissquote.

Swissquote Market Instruments

With Swissquote Ltd., traders may grasp all trading possibilities globally with their diverse asset portfolio, which includes over 400 FX and CFD market products, all from a single platform. Swissquote's online banking platform provides traders with access to the main stock exchanges as well as the latest financial information needed to trade the financial instrument of their choosing.

Swissquote offers the following trade instruments: stocks, themes investing and trading, ETFs, Swiss DOTS, futures and options, funds, bonds, forex, CFDs, and cryptocurrencies.

Variety of Trading Instruments

Swissquote provides a variety of trading instruments via its Advanced Trader, MT4, and MT5 platforms. Overall, Swissquote provides approximately 400 financial products divided into the following categories:

• Over 80 major, minor, and developing currency pairings.

• There are over 25 stock indexes, including the CAC 40 and the FTSE 100.

• There are 340 funds and around 13000 mutual funds.

• 3 CFDs on bonds

• 26 CFDs on stock indexes

• CFDs on 12 commodities.

• CFDs on 26 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Stellar, and Tezos.

Swissquote Account Opening Procedure

Swissquote's account opening procedure is simple and uncomplicated. Opening an account is a simple online registration procedure. Opening an account with Swissquote requires a video identification step, which many customers find difficult.

To create an account with Swissquote, a new customer must first complete the following steps:

• Go to the Swissquote official website and click login/register.

• Enter personal information such as name, date of birth, and a few details about the trader's history such as employment or country of residence.

• Answer easy questions regarding your financial knowledge and expertise.

• Examine the application thoroughly before submitting it.

• To create an account with Swissquote Broker, you must provide video identification or email national ID papers, a bank statement, a driving license, or any utility bill.

It is important to note that video identification is required for both UK and Swiss bank companies. The time it takes to establish an account and eventually trade stocks, FX, and CFDs might be considerable. Begin trading as soon as your account is validated and ready!

Swissquote Account Types

Swissquote offers four active trading accounts as well as a free trial account for novices who want to test out the platform's features and functions. The four live retail investor accounts are regular account, premium account, prime account, and professional account. The premium account is one of the most popular Swissquote account types.

It should be noted that the minimum deposit requirement for the regular account is $1000, $10,000 for the premium account, and $50,000 for the prime account, however, the minimum deposit requirement for professional accounts is volume-based, which means it may fluctuate depending on transaction activity. Here is a table of the features available for each service count trading account:-

Swissquote Trading Tools

• Swissquote trading and investing tools include:

• Swissquote Bank Ltd.'s Advanced Trader

• MetaTrader 4 and MetaTrader 5 by MetaQuotes Software Corp One-Click trading

• Diagrams of trade-offs

• Market order

• Stop order Trailing stop order OCO order Limit order 24-hour trading

• Graphing software

• Streaming news feed

It is worth noting that other tools, such as autochartist, which has relatively few new and sophisticated capabilities, provide information such as risk measures, chart pattern analysis, and many others. Customer service is an integral component of the trading experience at Swissquote for concerns or queries about investing and trading tools. Clients may contact the support staff right once to remedy such situations.

Swissquote Leverage and Margin Requirements

According to our Swissquote analysis and research, the leverage levels available at Swissquote are determined by the legislation or country in which the trading account is maintained. If the account is regulated by FINMA in Switzerland, the maximum leverage is 400:1, accounts regulated by DFSA in Dubai have a leverage ceiling of 50:1, and FCA controlled accounts have a maximum leverage of 30:1.

It is crucial to remember that professional customers may benefit from substantially greater leverages of 200:1, but they may have to give up their rights to the funds' compensation plan that FSCS provides. The maximum leverage for MAS-regulated accounts in Singapore is 20:1, but MFSA-regulated accounts have 30:1 leverage under ESMA standards.

The degree of leverage provided by any broker is proportional to the safety of the client's assets. The EU and UK regulators typically have smaller leverage, but a market maker benefits from greater fund safety (€20,000 and €1,000,000, respectively). Swissquote brokers are an exception, allowing leverage of up to 400:1 while keeping a 100 percent funds guarantee.

Because of the high degree of leverage, traders prefer depositing money with less regulated platforms. Swissquote Brokers overcomes this problem by allowing traders to avoid the hazards of trading and investing with a less regulated broker. Furthermore, when compared to other brokers, Swissquote Europe and the UK include compensation plans, arbitration, and consumer protection, making the platform an appealing alternative for everybody.

• For FX trading, the leverage is 30:1.

• 20:1 for index CFDs and precious metals

• 30:1 for EU and UK customers

• 10:1 for commodity CFDs

• Bonds 5:1

• For skilled traders, the odds are 100:1.

It should be noted that to benefit from the highest leverage ratios, customers must deposit a minimum of $1000. Investments and trading are high-risk activities, and market makers may lose more money than they deposit.

Swissquote Fees

Swissquote, like other competitors in the same league, accepts spreads (difference between the buy and sell price). Swissquote pricing and transaction costs are competitive. They provide three levels of minimum spreads dependent on the trader's initial deposit, which might be a hurdle for certain traders and investors. The normal trading account size is up to $25,000, with a $1000 initial investment.

The spread difference between the Standard and Prime accounts is around 0.6 pip. Margin requirements remain the same regardless of the trading account maintained by the traders. Except for a reduced margin call threshold stop-out, the commission-based Elite account includes adjustable spreads.

Swissquote's spreads for commission-free FX trading begin at 0.6 pips. Popular currency pairings, such as EUR/USD, have spreads of roughly 1.3 pips, while XAU/USD (Gold) and the S& P 500 have spreads of about 0.25 points. Other non-trading expenses include inactivity penalties of 10 currency units each month after a six-month inactivity period, overnight swap charges, and an account maintenance fee.

Crypto costs charged by Swissquote Brokers include commission and bid-ask spread (1 percent for CHF 10,000 trading volume, 0.75 percent for CHF 10,000–50,000 transaction volume, and 0.5 percent for trade volume more than CHF 50,000). Swissquote's Robo-advisory fees vary based on the amount invested, and they are rather expensive. A few brokers or stock exchanges charge 0.6 percent each year, while Swissquote charges between 0.95 and 1.25 percent.

Swissquote charges hefty costs for additional things such as stock and ETF fees. In comparison to other comparable brokers, Swissquote withdrawal and deposit fees are low.

Swissquote Deposit and Withdrawal Methods

Swissquote Deposit Options

Deposits at Swissquote Brokers may be made in 9 different base currencies via prepaid, credit, and debit cards, wire transfers, or bank transfers. Depending on the financial service provider, some payments may be subject to a minimum cost. Aside from any relevant minimum fees, customers must maintain the Swissquote minimum deposit of $1000. (or equivalent).

Methods of Withdrawal from Swissquote

Withdrawal methods may be handled from inside the e-portal, and unlike payment methods for financing, money can only be withdrawn from Swissquote through bank transfer. The Swiss bank may charge a modest fee for this.

It is important to note that withdrawals for credit card payments are immediate (finished the same day), however, wire and bank transfers take 1 to 3 working days to complete.

Swissquote Bonuses and Promotions

Due to regulatory restrictions, Swissquote does not offer any deposit or no deposit bonuses to its clients. The platform has created a dual referral bonus offer, which is explained in the following section.

Swissquote Referral Program

Swissquote prioritizes its clients' satisfaction and the need to improve their financial experience and increase their loyalty. To accomplish this, Swissquote runs periodic promotions that provide traders with one-of-a-kind rewards and gifts if certain conditions are met. Although the platform does not provide any bonus offers, the sponsor–a–friend promotion or referral program appears to be a big hit. This regulated and secure broker offers a “Refer a Friend” bonus that requires an existing Swissquote broker to sponsor a friend or family member by referring them to the Swissquote platform.

When a referred friend opens a trading account with Swissquote using the referral code provided by the referrer, both the referrer and the referee receive a bonus amount credited to their accounts, according to the Swissquote review. It is important to note that the bonus is only credited after the referred friend makes a minimum deposit at Swissquote.

Swissquote Partnership Program

Swissquote affiliate program or partnership program is available to those who want to join the platform as franchise partners or sub-brokers. If a client joins the Swissquote program as a partner or affiliate, he can earn up to 35% of the revenue share. There are no additional charges or fees to become a partner. As a result, anyone can become a Swissquote affiliate at no cost.

It is important to note that becoming a partner at Swissquote takes approximately 2 to 3 days due to the time it takes to activate the code.

The Introducer Program, which operates on a franchise model, is another popular program at Swissquote. Clients in this program can earn up to 20% of their deposits. The program requires a lower minimum deposit or initial deposit from referred clients (between 100–and 499 EUR/GBP).

When the deposit is made, the client receives 20% of the deposit amount. The code takes 2 to 3 days to activate for both affiliate and introducer models. The primary goal of both models is to develop long-term financial relationships with their referred clients and partners.

Swissquote's Resources

Swissquote has a robust research and education section that includes live analysis and a daily technical report on market insights. The education center includes a library of courses, webinars, e-books, free demos, and a magazine. It covers the fundamentals of advanced trading techniques and how a broker can learn strategies while trading CFDs and forex.

Swissquote's website includes high-quality educational and informational tools such as:

• Tutorial videos are supported on both the MetaTrader 5 and Advance Trader platforms.

• Forex learning center with e-books and educational videos on technical analysis, fundamental analysis, and risk management.

• Seminars and webinars in multiple languages.

In addition, the platform provides free demo accounts and a Robo-advisory service, both of which are excellent tools for learning more about Swissquote brokers.

Countries that Support Swissquote

Swissquote is available to all traders from the following countries:

• Australia is a country in Australia (Not ASIC regulated)

• Canada

• Thailand

• South Africa

• the United Kingdom

• Hong Kong

• Singapore

• Germany

• France

• Sweden\sNorway

• Denmark\sItaly

• United Arab Emirates Kuwait Saudi Arabia

• Qatar

• Luxembourg and several other countries

It should be noted that the brokers at Swissquote only accept traders from the countries listed on their websites. Traders from the United States are not permitted to trade at Swissquote.

Swissquote Security Measures

There is no denying that Swissquote is one of the most secure and reliable brokers in the industry, and the product has been on the market for years with a broader range of financial services. The entities – the UK entity and the Swiss entity – provide the most professional and transparent trading conditions with high liquidity. These are the most notable features of Swissquote, owing to the clientele who have higher expectations from the venerable tag name in Swiss banks.

The entire Swissquote entity is reliable and trustworthy, as it is regulated by four of the world's most popular and scrupulous regulatory bodies, FCA, FINMA, DFSA, and SFC, with an additional investor protection policy for its trading and investment audience (the European Union and the Rest of the World).

The Swissquote MetaTrader and Advance Trader platforms all use encrypted SSL technology for security. Traders can also use other security features such as touch ID and two–factor authentication (2FA) to protect their funds. Finally, Swissquote maintains a separate bank account in which its clients' funds are deposited. This means that the company cannot use the client funds for its purposes.

Customer Service at Swissquote

Swissquote supports a variety of languages, including French, German, English, Italian, Spanish, Russian, Arabic, and Chinese. It has a double AA customer support rating because it supports more than three languages.

According to the user and Trustpilot reviews, the Swissquote customer support team is quite efficient and responsive. It is open Monday through Friday, 8 a.m. to 8 p.m. (UK time). Monday through Thursday, 12 a.m. to 12 p.m. Other assets or investment products have different trading hours; for more information, visit the official web page and support hub.

Traders who have questions about investment advice, investment recommendations, how the platform or CFDs work, its features and functionalities, or how to retrieve forgotten passwords can contact the Swissquote customer support team via the following channels:-

• Send an email to info@swissquote.co.uk for assistance.

• Contact us by phone at +44 20 7186 2600.

• Live chat – Logo in the bottom right corner of the official website

• Boston House, 63-64 New Broad Street, London, EC2M 1JJ, United Kingdom

Conclusion of the Swissquote Review

To summarize this Swissquote review, Swissquote, a Swiss investment bank founded in 2000, has built an enviable reputation in financial circles around the world by offering traders and investors an impressive range of services and products, including social trading. This is done in a secure manner using an investor compensation rule and cutting-edge technology. Most of the underlying investing and banking services that are relegated to CFD and forex trading at better prices will be unavailable to EU clients under ESMA.

Swissquote provides several broker platforms and stock exchanges with distinct comparative advantages, but most traders prefer trading with MetaTrader 4 and the Advanced Trader platform. Swissquote is a good choice for both beginners and experienced traders, as it offers a wide range of assets, a more competitive pricing structure, and strict regulation by the industry's leading regulatory bodies. One significant disadvantage of the platform is that it has a high minimum deposit requirement for the standard account and a limited range of payment methods, which may turn away traders who prefer lower costs and entry requirements than other brokers.

FAQs

Is Swissquote safe and legal？

According to this Swissquote review, it is a legitimate, low-risk, safe, and the best broker that is publicly traded and operates a regulated bank. Swissquote is authorized by four tier-1 regulators (high trust), one tier-2 regulator (average trust), and no tier-3 regulators (no trust). CFD and foreign exchange trading can be risky, and past performance does not guarantee future results.

Is Swissquote a reputable broker？

Yes, Swissquote is a publicly-traded, regulated broker in four tier-1 jurisdictions, making forex and CFD trading extremely safe and low-risk. Swissquote has received numerous awards for Best Banking Services.

Can Americans Use Swissquote？

No, traders from the United States of America are not permitted to trade at Swissquote.

How Do I Withdraw Money From Swissquote？

Swissquote only accepts wire transfers for money withdrawal.

What is the Swissquote minimum deposit？

The minimum deposits for Swissquote Standard, Premium, Prime, and Professional accounts are $1000, $10,000, $50,000, and volume-based, respectively.

Can I Withdraw Bitcoin from Swissquote？

Swissquote offers 26 cryptocurrencies for CFD trading, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and many others.

Is it possible to open an Islamic account at Swissquote？

Yes, Swissquote offers an Islamic account under Sharia law, which prohibits the accumulation of interests based on Islamic finance principles.

Risk Warning – CFDs are complex instruments, and trading involves the risk of losing money quickly due to leverage. During CFD Swissquote trading, 72% of retail investor accounts lose money quickly. Risk capital should only be used if you have a high-risk tolerance and can afford to lose your money. All data in this Swissquote review is for informational or educational purposes only and does not constitute investment advice. Certain financial products may provide different levels of leverage, as well as high market volatility and limited regulatory protection.