Swissquote Review
Swissquote is a renowned online broker that is regulated in several countries and provides clients all over the world with a wide range of tradeable products. Swissquote provides sophisticated and easy-to-use trading platforms, a variety of account types, complex trading tools, and instructional resources. Spreads are competitive, and there is no commission. The support crew responds quickly, politely, and efficiently.
Swissquote is a Swiss broker that was established in 1996 as an information portal back then. Swissquote Group Holding Ltd was founded in May 2000 and listed on the SIX Swiss Exchange. Swissquote Bank Ltd was granted a banking licence in 2001. Swissquote is authorised and regulated by top government financial authorities, including the Securities Futures Commission (SFC), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), and the Financial Conduct Authority (FCA).
Swissquote offers a wide range of tradeable securities from various asset classes such as fiat currencies, cryptocurrencies, CFDs, commodities, stocks, indices, bonds, options, funds, IPOs, ICOs, and ETFs. Swissquote provides multiple trading platforms and apps with various account types, including eTrading platform, MT4, MT5, Swiss DOTS, Advanced Trader, and FIX API for individual and institutional traders. In addition, tight spreads and zero commission fees for trading are available for all clients.
Swissquote takes care of the education of its clients through an excellent selection of resources. Trading courses, tutorials, videos, chart analysis, and premium tools such as Trading Central, Autochartist, and Robo-Advisory are there for all levels of traders. They also offer free demo accounts which can be a great way for you to practice trading online and see if the broker can meet your needs before making a financial commitment.
Swissquote has over two decades of expertise in providing trading and banking services. The broker is a public company (SIX: SQN) and releases its financial information regularly. Swissquote provides a huge selection of over 2 million tradeable assets from all popular asset classes. There are multiple trading platforms available, including MetaTrader and Advanced Trader for forex and CFDs trading and eTrading for trading equities, ETFs, funds, bonds, futures, options. Moreover, the broker offers a ton of educational and research resources, including videos, market analysis, Trading Central, Autochartist, and Robo-Advisory. In addition, Swissquote provides customer support 24/5. Lastly, the broker also provides demo accounts to learn and get used to the trading environment.
On the other hand, Swissquote does not accept clients from the US. There are no fixed spread accounts and Islamic accounts for clients. Moreover, the minimum deposit for a standard account is $1,000, which is comparatively high compared to some other brokers such as XTB who let you get started with just $1. Forex and CFDs trading is available only on MT4, MT5, and Advanced Trader with separate accounts than shares and ETFs trading accounts. Swissquote offers limited options for funding and withdrawals. In addition, the account opening process is a bit slow. Moreover, the broker does not provide client support on weekends. Lastly, there is a withdrawal fee charged.
Let’s summarise the advantages and disadvantages of Swissquote.
Swissquote has a huge product portfolio covering over 3 million trading instruments from all popular asset classes, including forex, CFDs, commodities, shares, indices, cryptocurrencies, futures, options, bonds, and ETFs. However, there are separate accounts for forex, CFD trading, and stock trading. Another broker with a comparable product range is EXANTE who have over 400,000 to choose from.
Swissquote Instruments Summary
| Instruments | Swissquote |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | ✓ |
| Bonds | ✓ |
| ETFs | ✓ |
| CFDs | ✓ |
Commission and Spread Fees
Swissquote has multiple account options that carry different trading costs and required minimum deposits. I like that there are no commission fees for trading forex but I do feel that the spreads are still quite high. However, when you consider that the commission is accounted for via a spread mark-up, then it is acceptable. You can get spreads from zero pips through other brokers such as IC Markets, but you will be paying a small commission fee on top. It really depends on your trading strategy and whether you require tight spreads or not. If you are not scalping, then I think Swissquote have very good trading conditions overall with a versatile choice of account types for everyone.
Here is a summary of trading costs at Swissquote with different forex trading accounts.
| Fee | Standard | Premium | Prime |
|---|---|---|---|
| Commission (per standard lot per side) | $0 | $0 | $0 |
| Commission (stocks) | 0.15% | 0.12% | 0.09% |
| Spreads from | 1.7 | 1.4 | 1.1 |
Deposit and Withdrawal Fees
Swissquote charges a 1.9% deposit fee for using debit/credit cards and 30€/20£ for using checks. In addition, the broker charges a $10 withdrawal fee for using credit/debit cards.
Inactivity Fees
Swissquote does not charge an inactivity fee from its clients which is another big advantage that they have over many other brokers who do.
Swissquote offers three award-winning, sophisticated, and user-friendly trading platforms. There are some of the best trading platforms available: the mainstream MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as the in-house designed Advanced Trader platform. Desktop, online, and mobile platforms are all available which gives you great flexibility. They all include a plethora of free analytical tools and plugins to help you tackle the markets efficiently. A FIX API trading solution is also available for institutions, businesses, and expert traders that want a more customised and bespoke trading environment. In addition, the broker offers eTrading, Advanced Trader, Swiss DOTS, and mobile trading apps for shares, ETFs, and equities trading accounts. Let’s look at each Swissquote platform briefly:
eTrading (Web)
The eTrading platform was created to help you reach your trading goals in the most straightforward and natural way possible. The design of Swissquote’s eTrading online platform is ordinary and practical. It feels tidy yet antiquated; the operations are straightforward, but moving between parts could be improved.
You may set up price alerts and create a watchlist. With news alerts, you may create a personalised alert box loaded with news items of your choosing. You will also receive alerts when your deals are completed. In addition to the alert area of the trading platform, you may also opt-in for email notifications.
eTrading Mobile
Don’t lose out on market possibilities; trade whenever and wherever you want with eTrading mobile applications. Swissquote’s eTrading platform is user-friendly and well-designed for mobile trading. The search tool is straightforward, albeit the results are occasionally arranged in an unusual manner, comparable to the web platform. On the mobile platform, you may configure pricing, news, and order confirmation alerts and notifications.
Swiss DOTS
Swiss DOTS is the world’s top over-the-counter (OTC) marketplace for leveraged goods. Over 90,000 goods are traded. Take advantage of favourable conditions starting at CHF 9.- flat. From 8 a.m. until 22 p.m., you may buy and sell. The Swiss DOTS universe includes approximately 90,000 derivatives with a variety of underlying such as stocks, indices, ETFs, currency pairings, and commodities.
Advanced Trader
Swissquote’s award-winning proprietary trading platform, Advanced Trader, features a set of sophisticated built-in trading tools as well as an intuitive user interface. It is intended to suit the ever-increasing expectations of clients in a completely customizable environment for quick and efficient trading. You may customise the interface with the instruments and tools that you require based on your preferences. It has capabilities that allow you to complete trade activities more quickly. Chart analysis tools include 40+ technical indicators (Moving Average, MACD, Bollinger Bands, Stochastic, RSI, Heikin-Ashi, and so on) as well as an integrated real-time news feed from Bloomberg and Swissquote. By automatically analysing the charts, the automated pattern recognition tool can save you time from manually analysing them. It will recognise and highlight 17 of the most regularly utilised chart patterns, as well as provide a pattern strength indication in colour. This programme can show you potential trading opportunities on a variety of currency pairings and periods. Advanced Trader supports a variety of order types, including those that are not available on other platforms.
- Order Cancels Other (OCO): A stop order and a limit order are combined in this order type. If one of the order types is performed, the other order type is cancelled automatically.
- If done: This is a two-step sequence in which the second step will only be executed if the first step’s requirements have been met.
- If done / OCO: a modification of the if done that will place an Order Cancels Other (OCO) after the order in the “if done” section is executed.
If you need to trade while on the go, you may download the Advanced Trader desktop version and use the mobile or online versions of the platform. The online version allows you to trade straight from your web browser without the need to download any software. The mobile version is accessible via the respective app stores for all iOS and Android devices.
MetaTrader 4
MetaQuotes, a trading software corporation, created MT4, which is utilised by traders of various skill levels all over the world. MT4 is well-known for its short learning curve and ease of use while still providing enough complex capability to please more seasoned traders. MT4 is one of the used trading platforms on the market, offering a plethora of trading tools, plugins, and lots of other useful features for beginners and pros alike.
MT4 has an abundance of traditional technical indicators that may be applied to a variety of chart styles and timeframes. These indicators may be used to identify trends, ranges, and possible trade opportunities in the market. Users have access to hundreds of free and paid custom indicators and EAs from the MQL marketplace, which can be accessed from inside the platform, in addition to the 30+ built-in indicators. You may see the profiles of hundreds of traders and select to automatically copy their trades.
MT4 allows for automated trading with EAs and copy trading. The MetaEditor allows users to write their own custom indicators or EAs in the MQL programming language. The strategy tester may be used to backtest EAs against historical data obtained straight from the broker or another supplier.
The Swissquote MT4 platform accepts two types of market orders: immediate and market execution. The immediate order is executed or rejected for the whole amount of the deal at the requested bid or ask price. The order will be executed at the best market circumstances for Stock Indices.
MT4 is accessible for desktop (Windows and Mac), online, and mobile (iPhone, iPad, Android, and Tablet). The online platform operates directly in most major web browsers without the need for any extra software to be installed, whilst the mobile trading apps allow you to trade from the palm of your hand from anywhere in the globe with an internet connection.
MetaTrader 5
MetaTrader 5 (MT5) is the next iteration of MetaTrader software. Following on from MT4, it retains the majority of the fundamental functionality while adding some new capabilities for traders seeking the complete trading technology available. The additional tools and trading instruments provide greater flexibility.
MT5 has a wide range of technical indicators that may be used to discover trends and anticipate price direction. In the MetaEditor, users may pick from over 80 built-in indicators or build their own. Thousands of other custom indicators are available in the MQL marketplace and may be added to the platform.
MT5 also includes over 40 chart analytical items, like Gann, Fibonacci, and Elliott tools, geometric forms, a variety of channels, support/resistance levels, and more. As with MT4, the MT5 charts are entirely customizable, with an additional 21 periods to pick from, compared to MT4’s 9 timeframes.
MT5 also supports fully automated trading using expert advisors (EAs) or copy trading from the various signal sources available in the MQL community. The built-in editor may be used to create and backtest your own strategies with tick data in the multi-currency strategy tester. The marketplace offers a wide range of EAs, some of which are free to use and others that demand a charge.
MT5 is accessible for desktop (Windows and Mac), online, and mobile (iPhone, iPad, Android, and Tablet). The web platform operates in web browsers and does not require any software to be installed.
FIX API
A Financial Information eXchange (FIX) protocol is an international standard for electronic trading that was created to allow for improved connection among market players. If you are looking for an API solution, you might want to consider Oanda as another option as they have a powerful AP solution.
The FIX API provides a customised and adaptable option for directly accessing Swissquote’s liquidity from your own platform. It is based on the FIX 4.4 protocol and may provide you with greater control over your trade while also providing optimal connection and performance.
You may get real-time and historical price quotations, as well as place market or limit orders using secure communication channels. Institutions, companies, and skilled traders who require high-speed connectivity and ultra-low latency execution frequently employ FIX APIs.
Themes Trading
Themes Trading is a collection of dynamic themed portfolios, which means you don’t buy individual stocks but rather collections of equities chosen by our Swissquote experts. Investors that choose this theme investment are anticipating the future and may thus position their portfolio for faster growth. This is a great feature and something that I have not seen many other brokers offer which helps Swissquote stand out even further from the stiff competition. Past results are no indication of future performance.
Swissquote Platforms Summary
| Platform | Swissquote |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | x |
| Proprietary (eTrading, Advanced Trader) | ✓ |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | ✓ |
| Other (FIX API, Themes trading) | ✓ |
Swissquote provides an excellent range of educational material in the form of trade videos, eBooks, and webinars, with the goal of teaching you various trading methods and best practises in order to help you enhance your trading expertise and realise your maximum potential. Let’s look at each educational resource and research tool briefly.
Trading Central
TC’s pattern recognition software allows you to construct trading strategies and spot changes in real-time from within your MetaTrader 4 and 5 platforms (MT4 and MT5). When combined with TC’s Daily Market Report, this solution provides everything you need to base your trading choices on professional insights from an award-winning market research company. With 24/7 worldwide coverage of FX, stock indices, and commodities, this indicator shows forecasts, commentary, and key levels from TC analysts directly on the MT4/MT5 live charts of the most actively traded assets (available for 30 min, daily or weekly charts). This indicator instantly scans any MT4/MT5 chart for the sixteen most significant candlestick patterns, allowing you to notice key shifts in supply and demand lines and better determine when to enter/exit the market.
Autochartist
The advanced search engines of Autochartist continually analyse markets, automatically detect trade setups, and give warnings based on three key technical analysis options: normal chart patterns, Fibonacci patterns, and Key levels. It is offered as an MT plugin that is completely connected to Swissquote’s deep liquidity, allowing you to quickly capitalise on trading opportunities by placing orders right from the charts. Alongside Trading Central, this is one my favourite tools for market analysis so I think that it is excellent that Swissquote provide both free of charge to their users. Not many brokers do, with Forex.com being one of them.
Here are some of AutoChartist’s features:
- Technical analysis that is automated: Chart Patterns, Fibonacci Patterns, and Horizontal Levels are identified early.
- Volatility Analysis: This allows for a more accurate risk assessment when determining to Take Profit and Stop Loss levels.
- Event impact analysis: Brief graphic representations of the effects of economic events on certain instruments.
Robo-Advisory
The Robo-Advisor was created with algorithms, precision, and logic in mind. You are in command, but the Robo-Advisor serves as your autopilot. It works as a professional partner capable of constructing a portfolio tailored to your requirements and directing its long-term growth. Your investing profile is taken into account by the Robo-Advisor. Whether you invest for personal or professional reasons, whether you want to use default methods or create your own, the Robo-Advisor can help you with your goals. This can be a good solution for those of you who are looking to take a more hands-of approach but looking for some guidance along the way.
Videos
The Swissquote learning centre includes a section dedicated to trading lessons, which cover a wide range of topics through a series of well-explained and graphically appealing films. These English-language videos cover everything from trading tools to trading platforms, market analysis, risk management, and more. Within this area, you may also find various PDF user instructions.
Webinars
Swissquote hosts expert-led webinars on a regular basis, both live and on-demand. The webinars allow you to expand your trading expertise from the comfort of your own home. They are accessible in the following languages: English, French, German, Spanish, and Arabic.
Market Analysis
Swissquote has a staff of specialist analysts and researchers that provide daily and weekly market reports in real-time. These special market insights can be utilised in conjunction with a broader technical and fundamental study.
Swissquote Research and Education Summary
| Resources | Swissquote |
|---|---|
| Market Analysis | ✓ |
| Guides | ✓ |
| Videos | ✓ |
| Webinars | ✓ |
| Autochartist | ✓ |
| Trading Central | ✓ |
| Economic Calendar | ✓ |
| Other | ✓ |
Swissquote provides a limited choice of funding options with wire transfers, debit/credit cards, and checks available for you to deposit and withdraw funds. I think they could improve by adding support for some e-wallets and cryptocurrencies. If you want more funding options, Trading 212 have a broader selection.
Swissquote Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | ✓ | ✓ |
| Credit/debit Card | ✓ | ✓ |
| Electronic Wallets | x | x |
| Cryptos | x | x |
Swissquote Group Holding Ltd. is authorised and regulated by various Tier-1 regulatory bodies. Here is the summary of the regulations:
- Swissquote Bank Ltd holds a banking licence from the Swiss Federal Financial Market Supervisory Authority (FINMA)
- Swissquote Ltd: the Financial Conduct Authority (FCA)
- Swissquote MEA Ltd: the Dubai Financial Services Authority (DFSA)
- Swissquote Asia Ltd: the Securities and Futures Commission (SFC)
- Swissquote Financial Services (Malta) Ltd: the Malta Financial Services Authority (MFSA)
- Swissquote Pte Ltd: the Monetary Authority of Singapore (MAS)
Swissquote Regulation Summary
| Regulator | Swissquote |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | x |
| SFC (Hong Kong) | ✓ |
| JFSA (Japan) | x |
| MAS (Singapore) | ✓ |
| FINMA (Switzerland) | ✓ |
| FCA (UK) | ✓ |
| CFTC (USA) | x |
| Other (DFSA, MFSA) | ✓ |
Swissquote Safety
The Swissquote Group and its affiliated firms are organised to provide effective regulatory monitoring to its global activities. Each Swissquote entity is governed by the competent regulatory body in the nation in which it is located. This regulation can provide clients with the assurance that they are dealing with a reliable internet broker.
Swissquote provides customer support 24/5 via live chat, email, and phone calls. I think this is an area in which they could improve by offering weekend support just like some other brokers such as RoboForex.
Swissquote is the ideal broker for expert traders that need a diverse portfolio of assets. Swissquote’s fundamental trading environment is outstanding, with over 3,000,000 trading instruments, improved MT4/MT5 trading platforms, competitive custom solutions, and a FIX API for sophisticated algorithmic solutions. The most apparent disadvantage is the potentially high trading fees maintained by Swissquote, along with the large minimum deposit requirement. I’d want Swissquote to simplify its onboarding procedure and introduce other payment processors to complement its competitive core offering and reduce trading expenses. Other than that, I think they are very hard to beat in many aspects and would certainly put them up there with the best CFD brokers that I have reviewed over the years.
