Swissquote – reviews of the Swiss trading platform

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Swissquote Review

Swissquote general information

Switzerland

Founded in: 1996 year
Headquarters:
Minimum Deposit: 1000 $
Website: en.swissquote.com/fx
Website languages:
Execution model: STP
Deposit currency:
Support languages:
Regulated by: FINMA (Switzerland)
Mobile trading:
Affiliate program: Not

Swissquote Forex broker description

Swissquote is a forex trading site that operates under Swissquote which also offers banking services. The forex trader was established in 1996 and with the many years in the business, it has created a strong name for itself in the forex sector.

Trading Accounts

For a trader to be able to execute various trades on the many trading instruments such as currencies, indices commodities, and CFDs, one will require an account. Swissquote has many different account types under its wings to help you with this. These account types are the demo account, the standard account, and the corporate account.

The Swissquote Demo Account

The demo account is a specially designed account that is meant for newbies with little or no information on the forex trading concept. This account type will let on learn about forex trading as well as give them demonstrations using virtual funds to execute trades.

The Standard Account

The Swissquote standard account is the basic account type. This account type is suitable for experienced traders as well as novice traders. Among the features of this account type are:

  1. Minimum position size of 0.01.
  2. Instant execution of trades.
  3. Has a variety of trading instruments from CFDs currencies and metals among others.
  4. No commission is charged at all on this account type.
  5. Locked margin level is at 1%

The Corporate Account

The corporate account is an account type that is run by companies or corporations with interest in forex trading. This account can also be called the professional account and here are some of its many features.

  1. No commissions are charged at all in his account type.
  2. The currency of use is the United States dollar, the euro, the Japanese yen, and the Turkish lira among any others.
  3. Minimum deposit is 1000 units of your respective base currency.
  4. Stop out at 0.5%
  5. Floating spreads.

About The Company and Security Of Funds.

The company, Swissquote as has been earlier indicated is part of the Swissquote companies that also have interests in the banking sector. The forex company was established in 1996 in Switzerland here it still has its headquarters in Gland. Over two decades later since its conception, it has managed to grow in leaps and bounds to become one of the best forex traders around.

It has managed to penetrate the global forex market very efficiently with its presence being all over the globe. It has its offices in Zurich, Bern, London, Dubai, Hong Kong, and Malta. These offices help in the coordination of its activities in their respective regions. This worldwide presence has compelled Swissquote to make necessary changes in making their website versatile by incorporating various languages as well as accepting various currency units. The languages in clued English, Swiss, Dutch Chinese and Arabic with currency units such as the Yuan, the Australian dollar, the united states dollar, the Swiss franc and Turkish lira among many.

In a bid to make its services stand out they have invested in the best workforce. The workforce is made up of qualified and dedicated employees who will ensure that each client’s respective needs has been given the audience and it has been solved to the client’s satisfaction. They may also occasionally offer advice as well as tips on how to trade where the need arises.

Swissquote is a credible and legitimate company that is licensed to operate in all the areas it runs its operation. It has met all the regulations set for it in order to be on the right died of the law. Among the notable licenses in its possession include:

  1. A clean bill that allows its operation Switzerland by the Swiss financial market supervisory authority (FINMA)

In keeping up with the set policies, it has formulated measures that will ensure the safety of clients’ funds. These measures are:

  1. Use of segregated bank accounts to separate clients funds from their company operating funds.
  2. Negative balance protection.
  3. Putting clients funds in entrusted and credible banks

Trading Conditions

Commissions

No commissions are charged at all on Swissquote.

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Minimum Initial Deposit

The minimum initial deposit stands at $1000 which will serve as your base capital for trade executions.

Margins

The margin call is at 0.5% while the locked margin level is at 1%.

Trading Platforms

To improve the clients’ trading experience, Swissquote has invested in the topnotch trading platforms that come with various features. These trading platforms are as follows.

Advanced Trader

The advanced trader platform is a platform that has been designed for professional traders and has the following features.

  1. Customizable trading interface.
  2. Has charts that help in trading analysis.
  3. Pattern detection that is good in analytics and will provide a clear picture on lucrative trades.
  4. Combines the stop order with the limit order.
  5. Has both the web and mobile platforms.
  6. Allows for hedging upon request.

Meta Trader 4 And 5

The Meta trader platforms are among the best when it comes to trading and come with a lot of lucrative features under them. Swissquote uses both versions and the following are their features.

  1. Great analysis and charting tools.
  2. Allows for automated trading.
  3. Has two type of orders that you can pick from, instant and market execution.
  4. It has both the web and mobile platforms.
  5. Allows for hedging

Promotions

The following are the promotions that are currently running at Swissquote’s site.

  1. The CHF100 trading credit to you and a friend that you have referred.

Withdrawals And Deposits

Depositing of funds to your account is very easy and it accepts payments from 3 methods which are e-banking, credit card, and China UnionPay. On credit cards, you can use your visa card or MasterCard to transact.

Withdrawals are also easy and you will simply request for the funds to a chosen payment mode. There are some little payment fees that you may incur while withdrawing and is dependent on factors such as the amount and also the currency.

BRIEFLY ABOUT Swissquote

A look at Swissquote’s customer comments and reviews will give you a perfect picture of this specific broker. This is a very credible forex broker that I would strongly recommend to anyone who wants to try his or her hand in forex trading. Their services are superb more so in customer care which enhances the overall customer experience

Swissquote Review

Swissquote Ltd is the London-based subsidiary of Swissquote Bank

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  • Account Minimum: $1,000
  • Fees: Minimum spreads of 1.7 pips for EUR/USD
  • Best for: Competitive fees plus customer support

Swissquote Group Holding has been in business since 1996 and as of 2020 has over 25 billion Swiss Francs in client assets under management. Swissquote Ltd is the London-based subsidiary of Swissquote Bank and is regulated by the UK Financial Conduct Authority. Being UK based brings Swissquote’s superior liquidity and execution on forex, commodities, indices and bonds to traders based in the European Union.

Three trading platforms available

Advanced desktop and mobile app are easy to set up

Daily reports available in multiple languages

Mobile charts have no technical indicators

Desktop watchlists have limited customization

Research limited to three products

Trust

Swissquote Ltd is regulated in the UK by the FCA (Financial Conduct Authority) and does not seem to have any outstanding complaints. Traders can also take comfort from the fact that the broker participates in the Financial Services Compensation Scheme (FSCS) which means clients may be entitled to pay out if Swissquote is insolvent, up to a limit of £50,000.

Swissquote works to ensure client data is protected and has an encrypted site but does not seem to offer any two-factor authentication at the current time.

Swissquote’s pricing structure is easily found on products available to trade and the spreads charged. The broker also provides examples of how trading costs work, as well as an explanation of the costs of keeping a trade open overnight. The one disadvantage, however, is the complexity of the costs in general. A trader would likely need to learn from experience to be able to fully understand all the trading and operational costs involved in running a position.

Desktop Experience

Swissquote offers three different ways to access its trading platform in a desktop environment. The one beginning traders are likely to use most is called Advanced Trader, which is easy to download and install from the website. The other desktop software options are MetaTrader 4 and 5 (MT4 and MT5). This software is designed for more advanced traders and has more technically advanced features such as trading strategies, back-testing and many technical indicators.

One advantage to Advanced Trader is its simplicity of design. The platform has a standard view with some of the most popular products located in the upper left of the screen. Different colors allow the trader to easily distinguish between prices for buying and selling. A watchlist is available on the right-hand side, but its customization is limited to a pre-set configuration of cross-currency pairs. Finally, clients can keep track of their running orders in the window at the bottom that gives details about profit and loss.

Advanced Trader also allows traders to set conditional orders, such as limit orders, and manage risks with stop-loss orders. It is also possible to open a 30-day demo account with a balance of USD $100,000 to get a feel for how the trading environment looks, feels and operates using real time market data and prices.

Special Features

Swissquote has few special features provided by other brokers such as automated trading or social trading. One feature they do offer, however, is AutoChartist, which is an early algorithmic identification of chart patterns using Fibonacci Patterns and Horizontal Levels. The feature also allows for advanced risk management by instantly calculating a client’s real capital exposure and sets risk-adjusted position sizes. The feature also allows some limited back testing to see how ideas would have performed using real market data.

Swissquote gives traders the ability to place stop-loss orders. Unlike other brokers, however, these do not seem to be guaranteed. A guaranteed stop-loss usually requires a small fee, but the client is guaranteed to get the price indicated. A non-guaranteed stop loss order means that the broker will make a best effort to get as close to the indicated price as possible in the market, but if there are gaps or slippage, the client bears this cost.

In June, the European Securities and Markets Authority (ESMA) announced its decision to implement a range of measures intended to harmonize EU-wide regulation. One of the main features of the new regulation is negative balance protection that limits client losses. Negative balance protection means that a retail client can never lose more than the total sum invested for trading Contract for Differences (CFDs). There can be no residual loss or obligation to provide additional funds beyond those in the retail client’s trading account. Since this is a policy implemented by the regulator, however, there is no specific advantage to Swissquote clients compared to using other brokers. They are all subject to the same rule.

Swissquote

Overview

Swissquote Trading Accounts

Swissquote is Swiss banking community, which is a leading provider of financial and trade services in Switzerland. The company was founded in 2000 and registered in Gland; It has offices throughout the world: Zurich, Bern, Dubai, Malta, London, Hong Kong. The number of Swissquote’s employees – 500. Bank is regulated by the Swiss Service for Supervision of Financial Markets (FINMA). The uniqueness of SWISSQUOTE bank is that it combines the reliability and prestige of the Swiss bank, and at the same time retail forex broker that are rarely found in market these services on the Internet.

Rating chart

Detailed Information

  • Telephone dealing
  • Scalping
  • Expert advisors
  • Telephone dealing
  • Scalping
  • Expert advisors
  • VIP
  • Telephone dealing
  • Scalping
  • Expert advisors

Swissquote Reviews

Denies from United States of America

They want more money in and when you decline to take loans worth of €90,000.00 they’ll empty your investment account. That’s what happened to me. In the beginning it seemed to be ok, but when you want to take money out it is not possible. They say it takes long time to gather the money etc. There’s always excuse why you can not have your money back. I have contacted them via customer service and I never got reply in written. My first contact to them was the trading pause of seven weeks. I had that time on my account €85,654.00, suddenly when they started to do the trading, there was less that €20,867.00 left. I checked the trading history win loss report and there wasn’t loss enough that could’ve explained the disappearance of 60,567.0 euros. I was not able to get access to my invested capital including my bonus in the Bloombex account, God so kind, luckily as I was researching for how to get my funds back from the scam broker, then I came across a comment on the broker reviews website find a binary trade funds recovery expert who make my dreams come through email:[email protected] he will guide you on how to get all your lost back and your bonus included

LOUIS DAVID from United States of America

I’m one of those who have suffered in the hands of unregulated broker, they wiped off my whole savings without keeping to any of their fake promise. Thanks to Mr Derrick who stood and took up my case to financial authorities, through his help I was able to get back everything I lost to this Fake Binary broker . So many people are facing this same problem after investing money they won’t be allowed to withdraw profit,they keep requesting for additional fees before withdrawal request can be carried out. Please grab this opportunity also and seek help from Mr Derrick Glenn he will help you get back your money. Am giving out his personal email ,kindly consult him for help . [email protected] com

Cynthia rose from Europe

Few months ago, i invested about $36,000 into this binary option platform with the aim of diversifying my trading portfolio. However, with my strict habits of growing my account 300% before taking profits, i never attempted any withdrawals, not until two months ago when i tried to withdraw but all effort was in vain. I called the account manager and explained the situation, he told me i would be able to withdraw after 4 working days which sounded shady to be very honest. 4days went by, still no withdrawals, i tried reaching out to the manager and customer service line but non of them were reachable till this moment. I shared my experience with my colleague at work, he introduced me to an International Recovery Firm ultimatfundrecovery These people saved me and I had my claims after 6working days. Their professionalism was top notch. contact them Eamil [email protected]

Rosemary from Europe

Please always be careful when choosing where to invest your money , I lost over $270,000 USD to unregulated broker who lured me into investing my money , after a successful investment plan they denied me access to withdraw my profit, I tried all my best to get my money back but there was mo response to my mails , I felt so stupid . I contacted some crypto currency Authority to help me recover my money back there they couldn’t offered any support until I meet Mr David markson who took up my cash to ALL BROKERS REGULARLY BODY AUTHORITY. With their help I was able to recover my money back including my profit I, please kindly contact Mr David markson on his email below if you are finding it hard to withdraw your profit , Lost fund to broker or account manager he will direct you on step to take for you to get back your fund within 4-5 days – [email protected]

pierre from Lebanon

i v been client at swissquote since several years. one of my stock has been bought by another companie with a high premium. i was happy but swissquote told me my stock are valued at 0 € . i had to fight several months and threaten them before they admit (without any excuse) that my stocks were valued at 6€ each. no excuse . their fees are not that low, i ll move to interactive brokers or saxo.

Aanuar from United Arab Emirates

I have been looking for a good broker for a long time, after trial and error, I found Swissquote broker and opened a broker account with him, now I really appreciate the advantages of a domestic broker, as trading on the stock exchange you buy real securities that become property!

Arash from United Arab Emirates

I started my trade last summer with Swissquote, and out of 50 dollars, I successfully made 150 dollars, which I was able to withdraw afterwards without problems.

Karlos from Spain

I do not want to praise Swissquote, but this is the best broker I’ve come across. For six months, there has never been a violation on his part in terms of trade

Nat from United States of America

Used Swissquote for years, never had a problem with them, good execution, good login access points and I wish I’d used them sooner!!

Danny from Romania

Swissquote has been great to deal with so far. I had a little trouble early as I started on MT4 and then wanted to move to MT5 but got my account sorted out within a week. Have been scalping across a few markets with success over the past 2 months.

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