Swissquote review (2022) Review
The website has a well-designed interface, allowing you to find a wealth of information about the company. The website is translated into ten languages. Since 2000, the company’s shares have been traded on the SIX, Swiss Exchange. Swissquote is headquartered in Gland, Switzerland, and has offices in Malta, the UK, UAE and Hong Kong. Swissquote has a market capitalization of CHF 500 million and assets in the range of CHF 10 billion. Swissquote has an annual trading volume of CHF 1 trillion for its clients on the Forex market. Let’s read our review and analyze the broker’s activity.
Trading instruments
Swissquote broker offers its clients access to a huge market with over two million financial products, including currencies, bonds, ETFs, funds, stocks, derivatives, futures, options and other securities. Swissquote was the primary bank within the world to feature trading in underlying cryptocurrencies (not CFDs), including Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple. The minimum deposit amount to open a trading account is $1000. The maximum leverage is 1: 100.
Trading platforms
The broker offers its clients a choice of three trading platforms: MT4, MT5 and its own proprietary Advanced Trader trading platform. All platforms are adapted for mobile devices. Swissquote Ltd, regulated by the FCA in the UK, does not offer the Advanced Trader platform, leaving only the MT4 and MT5 platforms.
MT4 terminal
This is a classic program that many traders install. The login is the account number and the password is the same as the one you created during registration. A key feature of the program is its simplicity and versatility. All the menu buttons are on the top panel. You can use them to open any asset and add any indicator. All basic tools are already built into the terminal. After downloading, a trader can immediately apply several indicators to a chart and customize them according to his or her strategy.
MT5 terminal
This programme is similar to the MT4 terminal in many ways, as it is based on the MT4 terminal as an improved version. It has the following advantages:
- 21 timeframes allow you to customize your chart according to your strategy;
- 80 built-in indicators;
- thousands of other indicators that are available for download in the Code Base library;
Advanced Trader
This software was developed in-house by Swissquote to create an optimal trading environment for traders. It contains 27 built-in indicators and 17 additional tools. Economic news is streamed directly into the terminal’s live window, allowing you to fully immerse yourself in trading without losing a single second.
Broker’s regulation
Swissquote Group Holding Ltd through its subsidiaries is regulated and licensed in various jurisdictions. Switzerland : Swissquote Bank SA is regulated by FINMA. UK : Swissquote operates through Swissquote Ltd, registered under FCA UK number 562170 as of 02/05/2012. UAE : In Dubai UAE, Swissquote operates through Swissquote MEA Ltd with registration number 1228. Hong Kong: The company operates through Swissquote Asia Limited with license number AZV127. Malta: Swissquote Financial Services (Malta) Ltd is regulated in Malta with license number MFSA C 57936. In accordance with FINMA requirements, all client deposits of Swissquote regulated brokers, are insured up to CHF 100,000
Types of accounts
- Standart – minimum deposit from $1000 USD; spreads from 1.6 pips; minimum volume of transaction – 0.01 lot.
- Premium – minimum deposit from $10 000, spreads from 1,4 pips; minimum volume – 0,1 lot.
- Prime – minimum deposit from $50 000, spreads from 1.0 pip; minimum volume – 1 lot.
- Professional – all trading conditions are determined individually.
Demo account
When you decide to try out a Swissquote forex broker, try out your strategy so you don’t lose money. By opening a demo account, you can learn how to trade without risk. All platforms and functions of the system are available for training. You get 100,000 virtual dollars and work for free – by the time you open a real account, you already have the experience you need to trade profitably.
Click on “Register” under Demo account option and fill in the form
Deposit and withdrawal methods
Balance tops up and withdrawal can be made in 2 ways:
- Interbank transfer (may take up to 3-5 business days).
- Bank transfer to Visa or MasterCard.
There is no deposit fee; however, the sender’s bank may withhold a certain amount, as the funds are credited to an account opened with a foreign Swissquote bank.
Technical support
Customer support is available by phone, e-mail and online chat in English, German and French. Access is available for both existing and potential customers, but customer support is limited to working hours on weekdays. Swissquote broker also uses social media to communicate with customers and has Facebook and Twitter accounts.
Advantages and disadvantages
Swissquote Bank’s strengths over its competitors are
- a licence from a reputable regulator;
- wide range of financial services;
- a wide range of deposit currencies.
Swissquote Bank’s weaknesses:
- lack of promotions, bonuses, contests and other special offers;
- very complicated registration procedure, requiring mandatory verification.
Pros / Cons
Our Score
Swissquote broker offers its clients access to a huge market with over two million financial products, including currencies, bonds, funds, stocks and more.