This broker has also been regulated by FCA, 562170, FINMA, 4, SFC (Hong Kong), 3, DFSA (Dubai), 4, CySEC, 08, 12, 2022 and MAS.
Extensive Review
As a leading Swiss banking group, Swissquote is considered one of the most well-known online financial and trading services providers. The company is listed on the SIX Swiss Exchange since May 2000, but their story originated back in the 1990s, where Marc Bürki and Paolo Buzzi set up a business in financial software.
Swissquote's main vision is to enable private investors to access real-time prices free of charge. They follow a mission of "democratizing banking" by upholding the values of transparency, integrity, and unbiased information for the benefit of clients, in turn allowing them to make independent decisions.
Today, Swissquote is a global financial services provider with official branches in several major areas in the world like the European area, Middle Eastern, and Asian financial centers. From 2017 to 2018, it claims as the first online bank to offer crypto trading and participation in Initial Coin Offering (ICO).
Trading in SwissQuote guarantees a regulated environment, as the broker is licensed in some of the most well-known jurisdictions in the financial industry, including the Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA) from the UK.
The broker also has local regulations for other branches in other jurisdictions such as the Malta Financial Services Authority (MFSA), the Dubai Financial Services Authority (DFSA), and the Securities & Futures Commission (SFC) from Hong Kong to enable non-EU traders to register under its account with regulated services.
SwissQuote is notable for its wide variety of trading instruments, such as 8,500+ stocks and more than 800 ETFs. Forex pairs, cryptocurrencies, government bonds, and a range of commodity CFDs are also provided to clients.
The company presents a special deposit protection scheme that amounts to CHF100,000 in the event of bankruptcy proceedings. Traders from other countries are offered many choices of base currencies like EUR, USD, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, and CZK.
Opening an account in SwissQuote for forex trading is available in 3 different choices:
Standard
- Spreads: from 1.7 pips
- Commission: none
- Minimum deposit: $1,000
- Minimum trade: 0.01 lot
- Leverage: 1:100
Premium
- Spreads: from 1.4 pips
- Commission: none
- Minimum deposit: $10,000
- Minimum trade: 0.1 lot
- Leverage: 1:100
Prime
- Spreads: from 1.1 pips
- Commission: none
- Minimum deposit: $50,000
- Minimum trade: 1 lot
- Leverage: 1:100
Dubbed as the most popular account, Swissquote put Premium account as the recommended choice for forex traders, as it balances a competitive spread and affordable minimum deposit according to their standard.
For the trading platform, traders can choose between MetaTrader or Sawissquote's proprietary product called Advanced Trader. To provide traders with the best experience in trading, the company also puts complementary analytical tools such as Autochartist and Trading Central signals.
For MetaTrader fans with a desire to trade in an advanced trading environment, Swissquote offers the MetaTrader Master Edition.
As the company is more suitable to experienced traders with a medium deposit capability, they do not have a complete educational package to offer to new traders. However, they arrange free webinars for everyone who would like to continually upgrade their trading knowledge. This program is managed by professional figures in the financial industry and is available in 4 languages: English, German, French, and Arabic.
All in all, Swissquote is an ideal broker for traders with enough experience to trade with more than $1,000 as their starting deposit. Its long-standing history and qualified background as a member of a Swiss banking group provide high credibility and a guaranteed trading environment that not many can offer.
However, it is also important to note that Swissquote does not offer various deposit and withdrawal methods, as they mainly focus on bank transfer and credit card payments that they revolutionized in 2018 by launching a multi-currency credit card.