Swissquote Review 2024: Should you sign up with this broker?

There are Visa/MasterCard or wire transfer funding and withdrawal options available. Keep in mind that credit/debit card funding options are instant, but wire transfers may take up to three business days. Make sure that you use a working trading strategy and manage your emotions and risks well. It’s also recommended to use a trading journal to learn from your mistakes and successes.

The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) on the EUR/USD with a pip value of $10 for each account. After six months of dormancy, Swissquote charges an inactivity fee of 10 units of the base currency. The fee is charged monthly until activity resumes or the account balance drops to zero. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight.

1. Around 120 educational videos are also available from the broker’s YouTube channel.
2. After the takeover of Consors (Switzerland) AG in 2002, followed by the takeover of the clients of Skandia Bank Switzerland, further markets, financial products and services completed our offer.
3. All relevant information on the deposit insurance can be found at
4. It provides access to actionable trading ideas on a number of instruments at all times.

Swissquote is a reliable Swiss broker with a banking license that provides online trading services around the world in accordance with the rules and laws of local authorities. This means that the company adheres to high https://traderoom.info/is-swissquote-a-safe-brokerage-to-trade-through/ standards of security and transparency, so customers can trade with complete peace of mind. I like the in-house Quantitative Asset Management (QAM) at Swissquote, offering a competitive Robo-Advisory service. Regrettably, the minimum deposit required to access this feature is CHF 50,000, placing it out of reach to retail traders. The advisory fee is 0.75%, divided into a 0.40% administration fee and a 0.35% management cost.

1. With the choice of eTrading platform, Swiss DOTS, Themes Trading, and Mobile applications are able to choose and cover your particular need.
2. Interactive Brokers is an industry leader when it comes to offering low trading fees and a wide range of trading instruments.
3. In addition, the firm takes an active part in social contribution and support.
4. In addition, traders can examine the efficacy of their trading techniques by back-testing.
5. While partners may pay to provide offers or be featured, they cannot pay to alter our recommendations, advice, ratings, or any other content.
6. While MT4 has great customizability, the platform feels outdated, and some of the features may be hard to find.
7. Even pros use a Demo account for developing new trading strategies.

It responds well to straightforward questions related to the general trading experience. The platform’s design is fairly straightforward and easy to navigate. The charts screen is positioned on the right-hand side of the main panel, with the Autochartist screener right on top of it. Account info is displayed at the bottom, while the watch list panel can be found on the left-hand side. I reviewed Swissquote’s legal documents and assessed that everything was in order.

Brokers

His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor’s degree in Economics and International Relations. Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. According to my findings, Swissquote’s Premium and Prime accounts offer trading fees that largely correlate with the industry average.

How Withdraw Money from Swissquote Step by Step:

You can submit your question to Swissquote’s automated chatbot or go through the FAQ section of the website for more general queries. Phone support is available to all, but live chat with an agent is exclusive to registered clients. I tested the many features of CFXD and found it a very well-balanced and versatile platform. It has a web trader version and is the only platform from the available ones that offers synthetic CFDs. And while CFXD does not support copy and automated trading, it provides a superior user experience. However, it’s worth noting that Swissquote’s trading fees are above average, and its minimum deposit requirement of $1,000 is also relatively high.

Customer Support

The above-mentioned execution performance ensures precise order filling. At the same time, the feature-rich CFXD platform can be used to great effect by chart artists looking for the best entry and exit levels. Founded in 1996 and headquartered near Geneva, Swissquote stands out as a reputable and well-rounded financial institution offering trading and investment services. Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency.

After the registration, online authentication is required before finalizing the registration process. Video identification is required before opening an account with Swissquote. As we can see, the process of registering a trading account on Swissquote is somewhat complicated but definitely worth the effort. We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses.

Swissquote’s Research and Trading Tools

Swissquote’s leverage feature lets investors increase their holdings with borrowed capital. Traders should proceed with care and use smaller leverages initially until they have sufficient trust in their trading techniques. The broker stands out with its lightning-fast execution speeds, averaging around 9 milliseconds, and an extensive and diverse set of tradable and investment instruments. Available from the website, each news article is extremely detailed and informative, affording the reader a balanced and insightful outlook on recent market developments. However, I found a supporting chart for technical analysis to be lacking.

Interactive Brokers processes payment requests fairly quickly, usually within 1 business day. The broker does not charge handling fees for deposits or withdrawals, although third-party banking fees may apply. The one major drawback is that payments are currently only supported via bank wire. Interactive Brokers is authorized by multiple Tier-1 regulators, including the SEC and CFTC in the US, IROC of Canada, FCA in the UK, ASIC in Australia, and more. As a publicly traded company on the Nasdaq with a market cap of approximately $33 billion, IBKR upholds high standards of transparency and financial security.

Total Swissquote fees are based on spread plus funding fees, inactivity fees, and swap fees. Advanced Trader, Swissquote’s in-house web platform, allows users to manage and rearrange layouts based on their preferences. There are robust in-app capabilities and tools for handling orders on this platform. Traders who use the Advanced Trader platform have access to exclusive market news and can easily transition between the web, mobile, and desktop versions of the platform. It’s crucial to keep in mind, though, that opening an account and getting started trading stocks, foreign exchange, and contract for differences might take a while.

The customer support is available by Email, Phone and Live Chat (to use the Live Chat a client has to login to the broker’s website). The broker’s trading platforms are MetaTrader 4, WebTrader and Advanced trader , also optimized for mobile devices with IOS, Android and Windows mobile operating systems. Swissquotes provides its’ customers with sixty currency pairs and precious metals trading. The company’s services are not available for the United States citizens. The Swissquote trading platform has several advantages, however the minimum deposit is very high in comparison to the rest of the industry.

If automations are part of your trading strategy, Dukascopy allows you to set them up either on your local device or through its Strategy Server. Additionally, you can test your automations against historical data. Fees depend on the payment method, but Swissquote generally does not charge a fee for deposits or withdrawals. Swissquote offers both its own Advanced Trader solution and popular platforms MT4 and MT5. Swissquote Bank Ltd has a banking license issued by The Swiss Federal financial market Supervisory authority (FINMA), and is a member of the Swiss bankers ‘ Association.