Objective Swissquote Review

Swissquote user-ratings: $1000
  • Asset varierity - 0/10
    0/10
  • Trading platform - 0/10
    0/10
  • Support - 0/10
    0/10
  • Fees - 0/10
    0/10
  • Deposit/Withdrawal - 0/10
    0/10

Facts about the company:

  • Type: Forex and CFD Broker 
  • Regulation: FCA (UK), Finma (CHF) 
  • Minimum deposit: $1000 
  • Demo account: Free
  • Markets: Forex,  CFDs, Commodities, Currencies, Cryptos, Bonds
9.2/10
Comments Rating 9.2/10 (1 review)

Pros

  • Spreads from 1.1 pips
  • Zero commissions 
  • Free demo account 
  • Great learning material 

Cons

About Swissquote

The subject of this article is the online broker Swissquote, which is part of the Swissquote Group Holding Ltd. The headquarters of this group of companies are located in Switzerland (Gland). Responsible for customers in Europe is the subsidiary company called Swissquote Ltd, which has its headquarters in London.

The company currently has a workforce of 722 employees. At present, Swissquote also operates a number of other national and international offices in Zurich, Berne, London, Luxembourg, Malta, Dubai, Singapore, and Hong Kong.

The history of Swissquote

Swissquote Group Holding Ltd was founded in 1999 and was listed and licensed on the SIX Swiss Exchange on 29 May 2000. Gradually, the online broker expanded its financial products and services and in the course of this, took over a number of other companies, such as the information portal Tradejet AG in 2010.

Screenshot of the Swissquote landing page

Cooperations with important companies in its sector such as UBS, Goldman Sachs, Commerzbank, Vontobel, and Deutsche Bank were also initiated in 2014. Finally, in 2017, Swissquote was able to set another milestone by being one of the first companies to make trading in cryptocurrencies possible on its own website.

Regulation of the online broker

When searching for a suitable online broker, one should always also consider the question of regulation. Swissquote Ltd is regulated by the British Financial Services Authority FCA, which is known for its strict guidelines. The provider must therefore ensure a correspondingly high level of transparency and security of customer deposits.

Apart from this, the group of companies has a banking license issued by the Swiss Financial Market Supervisory Authority in Switzerland (FINMA). As such, it is also a member of the Swiss Bankers Association.

These tradable instruments are available at Swissquote

Let us now come to the actual range of services offered by the Online Broker. First of all, we would like to take a closer look at the range of tradable instruments that Swissquote offers its clients. In principle, two groups of products can be traded with this provider: Forex and CFDs.

The range includes more than 130 Forex and CFD instruments that can be traded on various trading platforms. In the following, the individual tradable markets will be considered in more detail.

Forex


The foreign exchange market is the largest financial market in the world, with a daily transaction volume of more than USD 5 trillion. Traders can trade here five days a week around the clock.

According to its own statements, Swissquote can convince with the following advantages in Forex trading, among others:

  • 16 liquidity providers
  • Regular high-quality market analyses
  • Flexible transaction volumes
  • Expert Advisors and algorithm trading possible

The Forex section of the Swissquote website covers both foreign exchange and precious metals trading.

Currency pairs


With more than 80 different currency pairs, the Online Broker offers its customers a relatively large selection. Trading with foreign exchange is particularly suitable for day trading, which is why it is also becoming increasingly popular with small investors and speculators.

Swissquote offers trading in the popular main currency pairs as well as a wide range of secondary currency pairs and exotic currencies.

Precious metals


Precious metals are also considered foreign currencies in the Forex market and for this reason, they can be traded in pairs with other currencies. They offer traders the opportunity to diversify their own portfolio and hedge it accordingly. The precious metals gold (XAU), Silver (XAG), platinum (XPT), and palladium (XPD) are available from Swissquote.

CFDs


In addition to foreign exchange trading, Swissquote clients can also trade CFDs on a variety of underlying assets. Traders can trade efficiently even with a small capital investment thanks to various levers. The online broker enables its clients to trade CFDs on bonds, stock indices, and commodities.

The provider summarises aspects that speak for Swissquote in this context as follows:

  • Wide range of underlying instruments
  • Flexible transaction volumes
  • Low capital requirements
  • No safekeeping costs
  • Transparent price structures
  • Share indices

Initially, investors can trade a variety of stock indices at Swissquote, including SP500, NAS100 and DE30. There are no restrictions on day trading for customers, nor are there any short-selling rules at the online broker to make better use of downward movements.

Commodities


In addition, Swissquote clients have the opportunity to further diversify their portfolio with CFDs on commodities. Commodities such as crude oil, natural gas, and copper can thus also be traded.

Bonds


Last but not least, CFDs on bonds can also be traded at Swissquote. These include bonds such as US Treasury, UK Long Gilt, and German Confederation. With the help of long-term interest rates when trading in bonds, investors can hedge their positions.

What trading platforms are available at Swissquote?

The previous section has highlighted the different trading instruments in the Swissquote service offering. The next section will focus on the trading platforms that the online broker makes available to its clients. Swissquote provides its own trading software, Advanced Trader, as well as the popular MetaTrader 4 and MetaTrader 5 trading platforms.

MetaTrader 4

The MetaTrader 4 (MT4) trading platform is the most popular trading platform in the world and comes with a variety of helpful plug-ins, tools, and Expert Advisors. Investors can also benefit from efficient analysis tools and charts. In addition to the numerous selectable (free or paid) indicators, the charts can also be individually designed with 9-time frames according to your needs.

Automated trading via robots or copy trading with MetaTrader 4 is also interesting for many traders. The software can be used as a web platform and also as a mobile version via smartphone and other mobile devices.

MetaTrader 5

And the successor software MetaTrader 5 (MT5) can also be used at Swissquote. Compared to its predecessor, MT5 includes a number of other helpful functions and trading tools.

With MetaTrader 5, traders have even more pre-installed indicators as well as analytical objects and customizable charts at their disposal, ensuring a higher degree of flexibility when trading. Like the previous version, the MT5 trading platform can be used as a desktop version, mobile version, or web version.

In addition, Swissquote customers can also use the MetaTrader Master Edition as a plug-in for MT4 or MT5. This is designed to help customers optimize their own trading processes with extended tools and indicators.

Advanced Trader

With the Advanced Trader, the online broker also provides its own in-house trading software, which has been specially tailored to the trading offer at Swissquote.

The platform’s trading interface is clearly laid out and can be individually adapted by each user. The Advanced Trader also has numerous powerful, pre-installed tools. These include, for example, 27 indicators (MACD, Stochastic, etc.), 17 overlays (Bollinger bands, Ichimoku, etc.), and integrated news (from Dow Jones & Swissquote in real-time).

Also interesting is the automatic pattern recognition of the 17 most frequently used chart patterns. This is a useful tool, especially for newcomers to chart analysis, as the strength of each pattern is indicated by the darkness of the highlighting. Last but not least, Swissquote clients can also choose the most important order types in the Advanced Trader. (OCO, If Done, etc.). And there is also a corresponding mobile version for this trading platform, allowing clients to trade anywhere and at any time.

Other tools at Swissquote

In addition to the trading platforms available at Swissquote, the online broker also offers a range of tools to further improve its own trading processes. These include Autochartist and Trading Central. These two trading tools will be examined in more detail below.

Autochartist

With Autochartist, the online broker provides his customers with an effective tool for technical analysis, which is also free of charge. The screenshot below provides an insight into the user interface of the tool.

Among the advantages of the tool is the automated technical analysis (via Fibonacci patterns as well as horizontal levels). In addition, the integrated risk calculator enables the calculation of real capital risk and risk-adjusted position sizes. A further advantage is the analysis function, which supports the trader in evaluating economic events and their influence on certain trading instruments.

According to the online broker, the tool is suitable for both beginners and advanced traders.

Trading Central

The Trading Central Plug-In is a pattern recognition software by TC for the trading platforms MT4 and MT5, which provides the investor with daily market reports. Furthermore, developed trading strategies can be checked for their chances in real time on the basis of “expert analyses of an award-winning market research company”.

The plug-in is basically composed of three different indicators, which can be displayed directly in the charts of the MT4 or MT5 platforms and can be adopted via drag & drop. These indicators and their functions are therefore briefly described below.

Analyst Views

The Analyst Views indicator is primarily used to keep an eye on movements in the Forex market, stock market indices, and commodities. In the course of this, corresponding TC analysts also provide their own assessments and forecasts for the most traded instruments.

Adaptive Candlesticks

With Adaptive Candlesticks, charts are analyzed for the 16 most important candlestick patterns. This should help to identify relevant changes in positions and to determine at what point one enters or exits the respective market.

Adaptive Divergence Convergence (ADC)

Adaptive Divergence Convergence is based on the trend following technical indicator MACD (Moving Average Convergence/Divergence). The indicator is designed to make appropriate adjustments and extensions in the event of sideways movements.

It provides investors with relevant signals, which are primarily intended to simplify short-term trading (entry/exit signals, slow as well as fast price indicators, oscillators, etc.).

What are the trading conditions at Swissquote?

However, the aspect that sometimes plays the biggest role in choosing a suitable online broker is the trading conditions of the provider in question. In this respect, we will first take a look at the types of accounts available and then at the spreads of the instruments that can be traded.

Account types

Clients can choose between four different account models at Swissquote: Premium, Prime, Elite, and Professional. The Prime account model is the most popular and therefore most used account type. For the sake of clarity, the different account types are now presented in tabular form so that they can be directly compared with each other.


Premium
Primeeliteprofessional
Spreadsfrom 1.3 pipsfrom 0.6 pipsfrom 0.0 pipsfrom 0.0 pips
CommissionsNo commissionsNo commissions2.50 euros per page per lot traded2.50 euros per page per lot traded
Minimum deposit$ 1,000$ 5,000$ 10,000$ 10,000
lever1:30 for forex
1:20 for indices & gold
1:10 for commodities
1:30 for forex
1:20 for indices & gold
1:10 for commodities
1:30 for forex
1:20 for indices & gold
1:10 for commodities
Up to 1: 400
Margin requirement100%100%100%100%

Swissquote accepts the following 9 currencies: GBP, EUR, USD, CHF, PLN, HUF, CZK, AUD, JPY.

Spreads


For many online brokers, the spreads associated with the corresponding trading instruments account for a large part of the fees. At Swissquote, as we already know, these depend on the type of account. The spreads of some popular trading instruments should, therefore, be briefly listed by account type.

In addition, if there is further interest, the respective swap rates for the corresponding overnight positions can also be viewed on the Swissquote website.

In addition to the spreads, it is also worth taking a quick look at some information concerning the execution of trades at Swissquote. The average execution time of the online broker is only 27 milliseconds with an execution rate of 97%. And the slippage figures are also relatively positive:

  • 63% No slippage
  • 15% positive slippage
  • 12% negative slippage

Deposit and withdrawal at Swissquote

In terms of deposits and withdrawals, Swissquote provides its clients with the so-called ePortal. This enables an overview of all accounts and direct access to the trading platforms.

As already mentioned, the minimum deposit is USD 1,000.

Customer service of the Online Broker

The customer service at Swissquote is not much different from the service of the competition. In addition to a classic contact form, interested parties or customers can also contact the support department by e-mail or telephone if they have questions or problems. As opening hours, the online broker gives the following times: From Monday to Friday: 08:00 am – 6:00 pm (UK time).

Support available:Mo to Fr 8:00 am – 12:00 / 1:30 – 5:30 pm CET
Telephone:+41 44 825 88 88
Adress:fx@swissquote.com
Languages:2

Also worthy of note is the offer of continuing education on the Swissquote website. The Online Broker gives interested investors access to a learning center with a wide range of video tutorials on various topics.

Swissquote also offers webinars and seminars at regular intervals.

The demo account with Swissquote

Interested investors can also use a free demo account with Swissquote. It is therefore possible to test the online broker and its services without having to take a financial risk. All three trading platforms of the provider can be tested without obligation. Within the demo account, more than 130 financial instruments can be traded on a test basis, for which the user receives a virtual credit balance of up to 100,000 US dollars.

Conclusion

Finally, we would like to briefly review our experience with online brokers on the Internet. The customer evaluations on the World Wide Web are relatively mixed, but all in all rather positive. The Online Broker offers a sufficient number of trading instruments, and in addition to the advanced in-house platform, the MetaTrader software can also be used.

The trading conditions are within a fair range, and as a client, you can choose between four different account models. And for those who want to try the provider first without risk of loss, a clearly arranged demo account is available.


Most asked questions:

Is Swissquote regulated?

Yes, Swissquote is a regulated broker after all. It is regulated by the British FCA as well as supervised by Finma. In any case, Swissquote is a reputable and trustworthy broker.

What trading instruments are available?

Clients of Swissquote can mainly trade Forex and CFDs. Moreover, also crypto, currencies, bonds and more are offered for trading which enables a variety of trading goods for every trader.

For whom is Swissquote suitable?

Swissquote offers its clients different account models and trading is possible from an initial minimum deposit of $1000. Thanks to different account modalities, trading is possible for beginners as well as for professional traders.

Are there commissions for account openings?

Account openings are commission-free. The standard, premium, and prime account are free of charge. However, for opening a professional account a commission is charged.

One Response

  1. Andre Witzel September 21, 2020

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