swissquote-review

Swissquote Review 2023

  • 9

Swissquote review summary

Swissquote is a Swiss online broker with a banking license. Swissquote offers access to many markets around the world. It charges no inactivity fee. As a listed Swiss broker with a banking background, Swissquote scores high on safety. It is a good choice for beginner investors. Swissquote has high fees. Its selection of multiple trading platforms is a bit overwhelming, and some of its research tools are not free of charge. BrokerChooser gave Swissquote a 4.5/5 rating based on analyzing 500+ criteria and testing via opening a live account.

Swissquote is a regulated broker, it is overseen by top-tier financial regulators in multiple countries . Swissquote is also covered by investor protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

TD Ameritrade pros and cons

Swissquote pros and cons

Pros Cons
Access to many markets and products High trading fees
No inactivity fee Confusing trading platform selection
Rock-solid background Some research tools are not free

Swissquote main highlights

🗺️ Country of regulation Switzerland, Luxembourg UK, UAE, Hong Kong, Singapore, Malta
💰 Trading fees class High
💰 Inactivity fee charged No
💰 Withdrawal fee amount $10
💰 Minimum deposit $0
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 22
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Themes trading, Robo-advisory

To read much more details about the broker’s services and features, expand on the sections below.

Our overall TD Ameritrade Review rating
  • 9

  • Fees
    3.6
  • Account opening
    8
  • Deposit and withdrawal
    9.2
  • WebTrading platform
    8.6
  • Mobile trading platform
    9.4
  • Desktop trading platform
    6.8
  • Markets and products
    10
  • Research
    6.6
  • Customer service
    10
  • Education
    10
Swissquote review

Fees

Swissquote charges no inactivity fee and you can trade an impressive selection of funds for favorable fees. On the other hand, trading fees are generally high, including stock and ETF fees, and withdrawing money comes with a price tag.

Pros Cons
Low fund fees High stock and ETF fees
No inactivity fee High bond fees
Swissquote fees snapshot
AssetsFee levelFee terms
US stockHighVolume-tiered commission ranging between $9 and $190
EURUSDLowSwissquote UK’s premium account: the fees are built into the spread, 1.6 pips is the average spread
cost during peak trading hours.
Mutual fundLow$9 per trade from Prime Partners (BlackRock, Fidelity, HSBC, etc.) and $0 per trade for funds under
Swissquote’s custody
Inactivity feeLowNo inactivity fee charged

How we ranked fees

We ranked Swissquote’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let’s go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Swissquote for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared Swissquote’s fees with those of two similar brokers we selected, Saxo Bank and Interactive Brokers. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Swissquote alternatives.

To have a clear overview of Swissquote, let’s start with the trading fees.

Swissquote trading fees

Swissquote’s trading fees are high. We recommend Swissquote if you want high-quality service and are willing to pay a higher price for it. If you prefer lower costs, there are discount brokers out there that are likely better options for you.

Swissquote’s fee structure is transparent. As a default, the pricing structure is volume-based, which means the higher the volume, the lower the fees you pay. You can, however, change the pricing structure to a fixed-rate plan, where you can pre-purchase a set amount of trades for a flat price. In this review, we calculated using the volume-based fee structure.

Stock fees and ETF fees

Swissquote has high stock and ETF commissions. Prices are far higher than the average fees of some competitor brokers in the same league and significantly higher than discount brokers’ commissions.

Swissquote stock and ETF commission of a $2,000 trade
Swissquote Saxo Bank Interactive Brokers
US stock $25.0 $10.0 $1.0
UK stock $28.3 $9.0 $3.4
German stock $29.7 $9.9 $3.0

The stock trading fee calculation is volume-based and transparent. Let’s have a quick overview of trading fee terms for the available stock exchanges at Swissquote Bank (CH): 

Swissquote Bank (CH) stock and ETF fees on major markets
Transaction value ($)Switzerland (CHF/USD/EUR)US (USD)UK, Germany, Scandinavia, Spain, Canada (EUR/GBP/CAD)Australia (AUD)Hong Kong (HKD)Singapore (SGD)
0 – 500915253525035
500 – 2,0002025253525035
2,000 – 10,0003030305035045
10,000 – 15,0005555558050075
15,000 – 25,000808080120750110
25,000 – 50,0001351351352001100190
more than 50,0001901901902901600270
Swissquote Bank (CH) stock and ETF fees on minor markets
Market Commission Minimum traded amount
Asia and Pacific
Indonesia Philippines Thailand 1.00% CHF 500
Japan 0.50% CHF 75
Malaysia Turkey 1.00% CHF 300
Sri Lanka 1.00% CHF 400
United Arab Emirates 0.75% CHF 150
Europe
Bulgaria 1.50% CHF 350
Cyprus Czech Republic Lithuania Hungary 1.00% CHF 200
Estonia 1.00% CHF 250
Ireland 0.85% CHF 250
Luxembourg 0.35% €150
Other markets
Mexico Russia 1.00% CHF 200
South Africa 0.55% €80
USA OTC 0.50% $50

The stock/ETF commission for Swissquote Bank Europe (LUX) is 0.1% with a minimum of €14.95 (€24.95 for Japan). 

If you prefer stock trading on margin, check Swissquote’s margin rates.

Trading on margin basically means that you borrow money from your broker so you can purchase more shares than you could with just the available cash in your account. You have to pay interest on this borrowed money – the interest rate is called the margin rate. It can account for a significant portion of your trading costs.

Swissquote’s margin rates are average overall, but higher than at the competitors in our comparison. The margin rates vary based on the base currency of your margin account.

Swissquote annual margin rates
Swissquote Saxo Bank Interactive Brokers
USD margin rate 7.3% 5.3%
GBP margin rate 6.4% 4.5%
EUR margin rate 4.9% 2.8%

Forex fees

Swissquote’s forex fees are low. 

To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads, and financing costs for all brokers.

Swissquote forex benchmark fee of a $20,000 30:1 long position held for one week
Swissquote Saxo Bank Interactive Brokers
EURUSD benchmark fee $15.0 $14.6 $14.7
GBPUSD benchmark fee $9.9 $8.8 $10.7
AUDUSD benchmark fee $11.5 $10.0 $8.4
EURCHF benchmark fee $1.4 $1.4 $4.7
EURGBP benchmark fee $11.4 $12.0 $12.6

Fund fees

Swissquote’s fund fees are low. Mutual fund fees differ depending on the fund provider.

We calculated the fees for the most popular mutual fund providers, such as  BlackRock and Fidelity.

Swissquote commission for a $2,000 fund purchase
Swissquote Saxo Bank Interactive Brokers
Mutual fund $9.0 $0.0 $15.0

Swissquote Bank (CH) charges $9 per trade for ‘Premium’ funds, i.e. funds issued by prominent fund providers like BlackRock.

For other mutual funds, fees vary. For example, you can trade some Swiss funds for free.

Swissquote Bank Europe (LUX) charges 0.5% for mutual fund subscription/redemption.

Bond fees

Swissquote has generally high bond fees.

Swissquote commission of a $10,000 government bond trade
Swissquote Saxo Bank Interactive Brokers
US Treasury bond $75.0 $79.2 $5.0
EU government bond $49.5 $79.2 $10.0

Swissquote charges a minimum fee as well as a percentage fee, which is quite high. 

Swissquote bond fees on all major and OTC markets
 Trading feeMinimum trading fee
All major and OTC bond markets0.3%€/£/CHF 50 or
$/CAD/AUD 70 or
Others: CHF 90 or equivalent value
Swissquote bond fees on the Swiss market
Transaction value ($)Transaction fees (CHF/USD/EUR/AUD/CAD/GBP)
0 – 500
500 – 2,00020
2,000 – 10,00030
10,000 – 15,00055
15,000 – 25,00080
25,000 – 50,000135
more than 50,000190

Options fees 

Swissquote options fees are high. We calculated the fees for stock index options.

Swissquote stock index options commission of 10 contracts
Swissquote Saxo Bank Interactive Brokers
US stock index options $19.9 $30.0 $6.5
UK stock index options $28.3 $19.2
German stock index options $9.9 $39.6 $16.8

Swissquote’s options fees are volume-based, i.e. based on the number of contracts you trade. 

Swissquote options fees
 Trading fee per contractMinimum
EUREX – stock index options€/CHF 1.00€/CHF 5.00
EUREX – stock options€/CHF 1.50None
CME E-mini NASDAQ and E-mini S&P500$1.99$5.00
US stock options$1.49None
Eurnext, LIFFE* stock index options€/£ 2.00None
Eurnext, LIFFE* stock options€/£ 1.50None

*You can trade options only via phone.

Futures fees

Swissquote’s futures fees are average. We calculated the fees for stock index futures.

Swissquote stock index futures commission of 10 contracts
Swissquote Saxo Bank Interactive Brokers
US micro e-mini stock index futures $19.9 $40.0 $2.5
UK stock index futures $33.9 $19.2
German e-mini stock index futures $9.9 $39.6 $7.9

Swissquote’s futures fees are volume-based, i.e. based on the number of contracts you trade.

Swissquote futures fees
 Trading fee per contractMinimum
EUREX – stock index futures€/CHF 1.00€/CHF 5.00
CME E-mini NASDAQ and E-mini S&P500$1.99$5.00
E-micro EUR/USD$2.50$5.00
Other futures currencies$5.00$5.00
E-mini crude oil and WTI
Gold and silver
US T-bonds & Notes
E-mini Dow
$1.99$5.00
Eurnext, LIFFE* stock index futures€/£ 2.00None

*You can trade futures only via phone.

CFD fees

Swissquote has high CFD trading fees.

To have a clear understanding of CFD fees, we calculated a CFD benchmark fee for the selected products. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Swissquote CFD benchmark fees, for a $2,000 long position held for one week
Swissquote Saxo Bank Interactive Brokers
S&P 500 index CFD fee $10.2 $3.1 $3.3
Europe 50 index CFD fee $6.1 $3.0 $4.2
Apple CFD fee $23.1 $4.3
Vodafone CFD fee $21.1 $9.3

CFD trading fees are built into spreads. We calculated with 20:1 leverage for stock index CFDs and 5:1 leverage for single stock CFDs.

Crypto fees

Swissquote provides cryptocurrencies for trading. There is a bid-ask spread, plus a commission, which is:

  • 1% for trade volume of up to CHF 10,000
  • 0.75% for trade volume between CHF 10,000–50,000
  • 0.50% above CHF 50,000 

Robo-advisor

Swissquote provides a robo-advisory service. Fees vary depending on the amount of money you invest.

Swissquote’s robo-advisory fees are high – just to give a benchmark, ETFMatic, a European robo-advisor, charges around 0.6% annually.

Swissquote robo-advisory fees
Money invested (CHF)Total annual fee of the portfolio
10,000 – 200,0001.25%
200,001 – 350,0001.10%
350,000+0.95%

Non-trading fees

Swissquote has average non-trading fees.

Swissquote non-trading fees
Swissquote Saxo Bank Interactive Brokers
Account fee No No No
Inactivity fee No Yes No
Deposit fee $0 $0 $0
Withdrawal fee $10 $0 $0

There is no inactivity fee or account maintenance fee at Swissquote Bank (CH), while there is 0.1875% min. €100 per quarter inactivity fee at Swissquote Europe (LUX).

Depositing money is free via bank transfer, but credit/debit card transfers carry a 2.2-2.5% fee. Both Swissquote Bank (CH) and Swissquote Bank (Europe) charges a withdrawal fee.

Swissquote Bank (CH) charges a high custody fee, which is charged after the securities you hold. The fee is 0.025% of total assets per quarter, with a CHF 15 minimum and CHF 50 maximum. Swissquote Bank (Europe) doesn’t charge custody fee

The fees are a bit expensive.

John

Swissquote review

Account opening

Swissquote offers a fully digital account opening process, although we encountered wait times. There is no minimum deposit for trading accounts, but a high minimum for forex and robo-advisory accounts.

Pros Cons
Fully digital Long wait times
No minimum deposit for trading account Forex and robo-advisor accounts have high minimum deposit

What is the minimum deposit at Swissquote?

There is no minimum deposit for trading accounts at Swissquote Bank (CH) and Swissquote Bank Europe (LUX). Forex accounts require a minimum of between $1,000 and $50,000, depending on the forex account you choose, while robo-advisory accounts require a minimum of EUR/GBP/USD 5,000.

At Swissquote LTD (UK), there are various account types (available in EUR, USD, GBP, and CHF), with different minimum deposit requirements.

  • Standard account – 1,000 minimum
  • Premium account – 10,000 minimum
  • Prime account – 5,000 minimum
  • Elite account – 10,000 minimum

Account types

Swissquote Bank (CH) offers three account types that differ in the required minimum deposit, the products you can trade and the available trading platforms:

Swissquote Bank (CH) account types
 Minimum depositTradable productsAvailable trading platforms
Trading accountNo minimumEquities, ETFs, Funds, Bonds, Futures, Options, Forex, and CFDseTrading
Forex account*$1,000-50,000Forex and CFDsAdvanced Trader, MetaTrader 4, MetaTrader 5
Robo-advisory account$/€/£ 5,000Robo-advisor invests in fundsRobo-advisor’s platform

*There are four types of forex accounts, which differ in pricing and minimum deposit.

  • Standard – $1,000 minimum deposit, spreads from 1.7 pip, no commission
  • Premium – $10,000 minimum deposit, spreads from 1.4 pip, no commission
  • Prime – $50,000 minimum deposit, spreads from 1.1 pip, no commission
  • Professional – custom spreads; you have to contact Swissquote to apply for this account

Swissquote review – Account opening – Account types

Swissquote Bank Europe (LUX) provides the following account types:

  • Trading account – you can trade with stocks, ETFs, mutual funds, and crypto.
  • Forex account – you can trade with CFD and forex
  • Robo-advisor account – you can use Swissquote’s robo-advisor service.

At the London-based Swissquote LTD (UK) you can choose from three account types, which differ in their pricing structure, minimum deposit, and maximum leverage. The fourth one is not for average investors. 

Swissquote LTD (UK) account types
 Minimum depositSpreadsCommissionMaximum leverage
Premium account€1,000From 1.3 pipsNo commissionas per ESMA-regulation
Prime account€5,000From 0.6 pipsNo commissionas per ESMA-regulation
Elite account€10,000From 0.0 pips€2.5 per lot per tradeas per ESMA-regulation
Professional*€10,000From 0.0 pips€2.5 per lot per trade1:400

*To qualify for the professional account, you have to satisfy the following three criteria: 

  • Traded derivatives, like CFD or forex, in significant amounts and on average 10 times per quarter over the last four quarters.
  • Have a portfolio of at least €500,000.
  • Worked in the financial sector for at least one year.

How to open your account

The Swissquote account opening process is generally smooth: the online registration was easy and straightforward, but the video identification can be inconvenient.

To open your account at Swissquote, you have to go through the following steps:

  1. Add your personal information, including your name and date of birth.
  2. Add a few details about your background, like your occupation and country of tax residence.
  3. Answer a few questions about your financial experience and knowledge.
  4. Review your application and submit it.
  5. Identify yourself either through video identification or by mailing your identity documents.

Swissquote review – Account opening

Our best alternatives to Swissquote are:

The highest ranking competitors are:

  1. Saxo Bank full review
  2. Interactive Brokers full review
  3. DEGIRO full review
  4. Comdirect full review
Swissquote review

Deposit and withdrawal

Depositing at Swissquote is quick with credit/debit card and can be done in several base currencies. On the negative side, you can only withdraw money via bank transfer and there is a withdrawal fee charged.

Pros Cons
Credit/Debit card available Withdrawal fee
Several account base currencies

Account base currencies

Swissquote provides a wide range of account base currencies.

Swissquote account base currencies
Swissquote BrandAvailable account currencies
Swissquote Bank (CH) and Swissquote Bank (LUX)EUR, USD, GBP, CHF, JPY, AUD, CAD, NZD, PLN, SEK, DKK, NOK, HUF, TRY, ZAR, SGD, MXN, HKD, THB, ILS,
AED
Swissquote LTD (UK)EUR, USD, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, CZK
Base currencies at Swissquote vs similar brokers
Swissquote Saxo Bank Interactive Brokers
Number of base currencies 22 26 23

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank.

Deposit fees and options

Swissquote charges no deposit fees for bank transfers. For credit and debit card transfers, deposit fees range between 2.2% and 2.5%, depending on your residency.

Swissquote deposit options
Swissquote Saxo Bank Interactive Brokers
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes No
Electronic wallets No No No

A bank transfer can take several business days, while payment with a credit/debit card is nearly instant. It took 1 hour when we tested it.

You can only deposit money from accounts that are in your name.

Swissquote review – Deposit and withdrawal – Deposit

Swissquote withdrawal fees and options

Swissquote withdrawal fees depend on where you trade, which country you transfer to and the currency of the transaction. The withdrawal fee at Swissquote Bank Europe (LUX) is €10, while Swissquote Bank (CH) charges €2 for euro withdrawals and $10 for US dollar withdrawals. 

Swissquote Bank (CH) withdrawal fees
CurrencyWithdrawal within Switzerland, Liechtenstein and the SEPA* countriesWithdrawal outside Switzerland, Liechtenstein and the SEPA* countries
CHF22
EUR210
USDNA10
GBPNA10
 For the full list, visit Swissquote’s website

*SEPA (Single Euro Payment Area) countries include all of the EU and EFTA countries. 

You can use bank transfers for withdrawals.

Swissquote withdrawal fees and options
Swissquote Saxo Bank Interactive Brokers
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Withdrawal fee $10 $0 $0

How long does it take to withdraw money from Swissquote? Swissquote says that it will send your withdrawal on the same day. In our test it took 1 day.

Swissquote review

Web trading platform

The Swissquote eTrading platform has so many functions that sometimes the platform is hard to use. Customizability is good and there is a clear overview of trading fees, but it’s easy to get lost on the platform.

Pros Cons
Clear fee report Easy to get lost among functions
Two-step (safer) login
Good search function
Swissquote platforms to choose from
Trading platformScoreAvailable
Web
4.3
stars
Yes
Mobile
4.7
stars
Yes
Desktop
3.4
stars
Yes

Swissquote provides several trading platforms and it can be difficult to decide which one to choose. 

If you trade stocks, the eTrading platform is most probably the best for you.

If you trade forex, you can choose MetaTrader 4MetaTrader 5 or Swissquote’s proprietary platform, Advanced Trader. Advanced Trader can only be used for forex trading.

Swissquote trading platforms
Trading platformTradable products
eTradingEquities, ETFs, Funds, Bonds, Futures, Options
Advanced Trader
MetaTrader 4
MetaTrader 5
Forex and CFDs

In this review, we focused on Swissquote’s eTrading platform, which is available in multiple languages.

Available languages on Swissquote’s eTrading platform
ArabicChineseEnglish
FrenchGermanItalian
RussianSimplified ChineseSpanish

Look and feel

The design of Swissquote’s eTrading web platform is average and functional. It feels clean but a bit outdated; functions are clear, while navigating among sections could be a bit better.

In some cases the platform is too Swiss-focused. For example, the Swiss stock market is at the top of the menu, above US and Europe. It can also be difficult to find how to go back to the previous menu. In many cases, you are logged out from the platform when you navigate between sections and need to log in again, which is quite annoying. 

The platform can be customized to your preferences.

Swissquote review – Web trading platform

Login and security

The default at Swissquote is a simple login, but you can set a more secure authentication with a physical code card or through mobile authentication. Read more about Swissquote’s 2-step identification here.

Search functions

The search function is good. Depending on the asset categories, you can set plenty of advanced filter parameters, such as rating, sector, risk, analyst recommendation, market cap, etc. 

On the other hand, the search results are not always satisfactory. Swiss assets are always overrepresented in the results and often not the most important assets are at the top of the list. We also encountered timeouts on various occasions while waiting for search results.

Swissquote review – Web trading platform – Search

Placing orders

The order panel is simple, with only five order types:

  • Limit
  • Market
  • Stop
  • Stop limit
  • OCO (One-cancels-the-other)

The order term can only be set by date. In the case of some exchanges (e.g. SIX, the Swiss exchange) there are some additional order types and term options, like Fill or Kill, Immediate or Cancel.

To get a better understanding of these terms, read this overview of order types.

Swissquote review – Web trading platform – Order panel

Alerts and notifications

You can set up price alerts and make a watchlist. With news alerts you can have a custom alert box filled with news items of your choice. You also get notifications when your trades are executed. In addition to the alert section in the trading platform, you can opt in for email notifications as well.

Portfolio and fee reports

It is simple to check your portfolio. Trading fees are easy to find in the order panel before submission, but it is relatively hard to get a clear report on all the fees you paid. For example, you need to wait 30 minutes to have your asset statement compiled.

Swissquote review

Mobile trading platform

Swissquote’s eTrading has a user-friendly and well-designed mobile trading platform. The search function is simple, although sometimes the results are organized a bit strangely, similarly to the web platform.

Pros Cons
User-friendly No advanced search filters
Good search function
Price alerts

Swissquote provides mobile trading platforms for all of its web trading platforms:

  • eTrading
  • MetaTrader 4
  • MetaTrader 5
  • Advanced Trader

These are all available for iOS and Android. In this review, we tested eTrading on iOS.

The platform is available in English, French, German and Italian, but the app language depends on your phone’s language setting.

Look and feel

The Swissquote mobile trading platform looks modern and is easy to use, but sometimes you have to go deep to find all the functionalities. We liked that if you rotate your phone horizontally, you can see a more detailed view of some lists and charts.

Swissquote review – Mobile trading platform

Login and security

Swissquote provides only a one-step login, but if you turn on Level 3 security, it prompts you to set a separate secure PIN. For logins, you can also use external password management apps like 1Password.

After logging in, you can set biometric authentication, which is a convenient feature.

Search functions

The search function is quite simple and lacks the advanced filters available on the web platform. You can only set asset type classes. The results are sometimes overweighted toward Swiss assets, similarly to the eTrading web platform.

Swissquote trading mobile app

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Stop
  • Stop limit

The only order time limit you can use is Good ’til Date (GTD).

In case of some exchanges (e.g. SIX) there are some additional order types and term options.

Alerts and notifications

You can set price, news and order confirmation alerts and notifications on the mobile platform.

Swissquote review

Desktop trading platform

Swissquote’s desktop trading platform is provided by MetaTrader. The interface is highly customizable, has a clear fee report and price alerts are enabled. On the other hand, it lacks a two-step login and the design is outdated.

Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) Poor design
Price alerts

Swissquote doesn’t have a dedicated desktop trading platform for trading stocks, ETFs, bonds and mutual funds. If you would like to trade forex/CFDs, you can choose from the following three trading platforms: MetaTrader 4, MetaTrader 5 and Advanced Trader. In this review, we tested MetaTrader 4 due to its high popularity.

MetaTrader 4 is available in an exceptionally large number of languages:

Swissquote desktop trading platform languages

Arabic

Bulgarian

Chinese
(Simplified and Traditional)

Croatian

Czech

Danish

Dutch    

English

Estonian

Farsi

French

German

Greek

Hebrew

Hindi

Hungarian

Indonesian

Italian

Japanese

Korean

Latvian

Lithuanian

Malay

Mongolian

Persian

Polish

Portuguese

Romanian

Russian

Serbian

Slovak

Slovenian

Spanish

Swedish

Tajik

Thai

Turkish

Ukrainian

Uzbek

Vietnamese

  

Look and feel

Swissquote’s desktop trading platform has great customizability. It is easy to change the size and the position of the tabs.

However, the platform feels outdated and some features are hard to find. For example, it took some time to figure out how to add an asset to the watchlist.

Swissquote review – Desktop trading platform

Login and security

Swissquote provides only a one-step login. A two-step authentication would be more secure.

Search functions

The search functions are OK. You can find the assets in categories. However, categorization is a bit confusing as there are several forex categories. We also missed the usual search function where you can type in the asset names manually.

Swissquote review – Desktop trading platform – Search

Placing orders

Don’t look for very sophisticated orders like one-cancels-the-other. The following order types are available:

  • Market
  • Limit
  • Stop
  • Trailing Stop

Trailing Stop is available only in the MT4 desktop platform

If you are not familiar with the various order types, read this overview.

There are also order time limits you can use:

  • Good ’til canceled (GTC)
  • Good ’til time (GTT)

Swissquote review – Desktop trading platform – Order panel

Alerts and notifications

You can set alerts and notifications in the form of email, push notifications to mobile, or notification to the desktop platform. 

To set email or mobile notifications, you have to add your email address and your mobile MetaQuotes ID (it can be found in the MT4 app’s settings). To add them, go to ‘Tools’ and select ‘Options’.

Portfolio and fee reports

Swissquote has clear portfolio and fee reports. It is easy to find your profit-loss balance and the commissions you paid under the ‘Account History’ tab: right click on one position, then choose ‘Save as Detailed Report’.

Safe bank. Good web- and mobileapp. Helpfull customer service.

John

Swissquote review

Markets and products

At Swissquote Bank (CH) and Swissquote Bank Europe (LUX), you can access many markets and trade a lot of different product types. At Swissquote LTD (UK) you can trade forex and CFDs.

Swissquote asset classes
 SwissquoteSaxo BankInteractive Brokers
StocksYesYesYes
ETFsYesYesYes
ForexYesYesYes
FundsYesYesYes
BondsYesYesYes
OptionsYesYesYes
FuturesYesYesYes
CFDsYesYesYes
CryptoYesYesYes

Swissquote offers many different products, with almost everything available, from stocks to options. Swissquote has a wide selection of available markets and an exceptionally broad range of mutual funds. The selection of bonds, options and futures is OK.

Swissquote review – Markets and products – Products overview

Stocks and ETFs

Swissquote offers access to 60 stock exchanges worldwide. Swissquote also offers US penny stocks.

You can trade a decent number of ETFs, though not as many as its main competitors offer.

Swissquote stock and ETF selection
Swissquote Saxo Bank Interactive Brokers
Stock markets (#) 60 50 83
ETFs (#) 20,000 6,400 13,000

Forex

Swissquote provides 80 currency pairs. 

Swissquote forex selection
Swissquote Saxo Bank Interactive Brokers
Currency pairs (#) 80 190 105

Funds

There is a very wide range of funds available at Swissquote, with around 13,000 mutual funds from some 340 fund service providers.

Swissquote mutual fund selection
Swissquote Saxo Bank Interactive Brokers
Fund providers (#) 340 17 400

Swissquote review – Markets and products – Funds

Bonds

Swissquote’s selection of bonds is great.

Swissquote bond selection
 SwissquoteSaxo BankInteractive Brokers
Bonds (#)53,4004,5001,065,000

Options

The number of available options markets is OK but less than what is offered by Saxo or Interactive Brokers.

Swissquote options selection
Swissquote Saxo Bank Interactive Brokers
Options markets (#) 6 20 34

Futures

Swissquote provides access to a few futures markets.

Swissquote futures selection
Swissquote Saxo Bank Interactive Brokers
Futures markets (#) 6 28 32

CFDs

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Swissquote offers CFDs through its UK entity. Besides forex, you can trade CFDs on stock indices, commodities and bonds. Individual stock and ETF CFDs are not available.

Swissquote CFD selection
Swissquote Saxo Bank Interactive Brokers
Stock index CFDs (#) 26 20 13
Stock CFDs (#) 300 7,800 7,100
ETF CFDs (#) 1,100
Commodity CFDs (#) 12 20
Bond CFDs (#) 3 8

Cryptos

Swissquote offers 12 cryptos as CFDs. However, these are not leveraged CFDs. 

Available cryptos:

  • 0x
  • Augur
  • Bitcoin
  • Bitcoin Cash
  • Chainlink
  • EOS
  • Ether
  • Ethereum Classic
  • Litecoin
  • Ripple
  • Stellar
  • Tezos

In addition to cryptos as CFDs, you can theoretically buy Bitcoin and Ether ETNs on the Swedish Nasdaq. However, we could not find the products’ ISIN number on Swissquote’s platform, even though “Scandinavian markets” are available.

Note that the FCA banned the sale of crypto-derivatives to UK retail consumers as of January 2021.

Themes Trading

Swissquote has an excellent special product called themes trading. These trading ideas are based on a common theme, which can be quite interesting. A few examples:

  • Global recycling
  • Online Gaming
  • 5G Revolution
  • Football Fever

The underlying portfolio and the past performance of these products are well documented. We really liked this themes trading service.

Robo-advisor

Swissquote provides a robo-advisory service. It’s suitable for you if you don’t want to manage your investments on your own or simply need to gain some confidence in investing.

The minimum investment amount starts at $/€/£ 5,000 and the fees are quite high in comparison with other robo-advisors. 

Swissquote review – Research – Robo-advisor

Swissquote review

Research

Swissquote offers good interactive charting and lots of news from various sources in different languages. Some research services are only available for a fee, which is a big drawback as the free ones are mostly basic.

Pros Cons
Good interactive chart Limited fundamental data
Trading ideas Recommendations are not structured
Quality news flow

Swissquote’s free research services are OK, but not the best in class. The broker also provides some more advanced subscription-based research services, but the fees are not competitive. In this review, as with other brokers, we concentrate only on the free services.

All Swissquote research is available in English, German and Italian, with some services offered in additional languages as well.

Recommendations

There are some reports and news commentaries. These are ad-hoc and you cannot search for a specific asset or market. The recommendations may include a target price and can be based on either fundamental or technical analysis. There are also rankings for stocks, which are a synthesis of analyst recommendations.

Fundamental data

You can access a limited amount of fundamental data for free. You can see historical earnings per share (EPS) and company calendars.

 

Swissquote review – Research – Fundamental data

Trading ideas

Swissquote provides trading ideas based on a common theme. This is called Themes Trading and you can either cherry-pick assets from the thematic portfolios or trade them as a structured product.

Swissquote review – Research – Recommendations

Charting

Swissquote has a good charting tool. It’s easy to use, complex, but not overcomplicated. There are 18 technical indicators, which is not a lot compared to other brokers. You can save the chart on the charting tool, which is a handy feature.

Swissquote review – Research – Charting

News feed

It’s worth signing up for Swissquote’s newsletters as their quality is good, the content is useful, and you can choose the topics that interest you. 

The news flow is in a mix of languages both on the website and in eTrader. Generally, there are separate news feeds on the eTrading platform and on Swissquote’s sites – like the Daily Technical Report for FX traders. On the eTrading platform, news is displayed in multiple languages at the same time, so be sure to set your favored one in the top right corner. It can be confusing to see German, English, French and Italian news items at the same time if you don’t speak all of these languages (thumbs up if you do!). Your filter sadly won’t be saved, so you need to repeat it every time. There is no economic calendar, at least we didn’t find one.

Other research tools you will enjoy

For professional traders, Swissquote provides an API, called FIX API. This API (application programming interface) allows you to be directly connected with Swissquote’s liquidity providers, which can make your trades cheaper and faster.

Swissquote review

Customer service

Swissquote has fast phone, email and live chat support. On the other hand, the email replies were not always relevant.

Pros Cons
Phone support No 24/7 support
Live chat Email answers are not always relevant
Fast response time

You can contact Swissquote customer service via:

  • Live chat
  • Phone
  • Email

Response times were short on the phone (1-2 minutes), email (1 day), and live chat (few seconds). The relevancy of the answers was good most of the time, but on email we did not always get satisfactory information.

Customer service is available in multiple languages: Arabic, Chinese, Czech, English, French, German, Italian, Spanish and Russian. Most likely some other major languages are available as well. It can get a bit confusing whether you are speaking with the Swiss or the UK office, and they cannot provide information on the other entity.

It would be great to have 24/7 availability. Their offices are open from Monday to Friday 8:00-22:00 CET and there’s a separate Customer Care Center dedicated to clients. It is open at the same times as the regular offices.

Swissquote review – Customer Service

Swissquote review

Education

Swissquote provides easy-to-understand and professional educational videos, ebooks, webinars and tutorials.

Pros Cons
Demo account None
Trading platform tutorial
Educational videos

There are a lot of good-quality educational tools available such as:

  • Tutorial videos for the platforms, both Advanced Trader and MetaTrader 5.
  • Forex learning center with educational videos, ebooks focusing on risk management, technical analysis and fundamental analysis.
  • Webinars and seminars in multiple languages

There is also a demo account available for both trading platforms, as well as the robo-advisory service. Demo accounts are a great way to get to know a broker, we really appreciate such features. Also, it is quite uncommon to have an option to try out a robo-service.

Swissquote review – Education

Swissquote review

Safety

Swissquote scores high in terms of safety for multiple reasons. The broker is regulated by top-tier authorities, it is listed on the Swiss exchange, it discloses its financial statements and has a banking license.

Pros Cons
Majority of clients belong to a top-tier financial authority None
Banking background
Listed on stock exchange

Is Swissquote regulated?

Yes, Swissquote is regulated by top-tier financial authorities:

  • the Swiss Financial Market Supervisory Authority (FINMA)
  • Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF).
  • UK’s Financial Conduct Authority (FCA)
  • Dubai Financial Services Authority (DFSA)
  • Hong Kong Securities and Futures Commission (SFC)
  • Monetary Authority of Singapore (MAS)
  • Malta Financial Services Authority (MFSA)

Is Swissquote safe?

To be certain if a broker is safe, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Since Swissquote operates multiple legal entities, investor protection depends on which one you are a client of.

Swissquote investor protection
Country of clientsProtection amountRegulatorLegal entity
120 countriesCHF 100,000Swiss Financial Market Supervisory Authority (FINMA)Swissquote Bank Ltd
EU€100,000 for cash, €20,000 for securitiesCommission de Surveillance du Secteur Financier (CSSF)Swissquote Bank Europe SA
UK£85,000Financial Conduct AuthoritySwissquote Ltd
Residents in the Middle EastCHF 100,000 for cash*Dubai Financial Services Authority (DFSA) Swissquote MEA Ltd
China and the regionNo protectionHong Kong Securities and Futures Commission (SFC)Swissquote Asia Ltd
SingaporeNo protectionMonetary Authority of Singapore (MAS)Swissquote Pte Ltd

*Middle Eastern residents’ assets are held in Switzerland. This means that clients at Swissquote MEA Ltd are under FINMA’s protection as well.

The Malta-regulated entity provides custody services for fund managers.

Swissquote review – Safety – Group structure

Swissquote provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered by any negative balance protection.

Background

Swissquote was established in 1996. The longer the track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Swissquote has a banking license, and as such is subject to tougher regulations than brokers.

Swissquote is listed on the stock exchange, which is a big plus for safety as Swissquote releases financial statements regularly and transparently.

Having a banking license, being listed on a stock exchange, providing financial statements, and is regulated by top-tier authorities are all great signs for Swissquote’s safety.

Swissquote review

Bottom line

Swissquote is an investment bank with a rock-solid background. The key factors of its safety scoreboard are the following:

  • it is Swiss,
  • it is listed on a stock exchange
  • and it is a bank. 

It has two main entities, one based in Luxembourg and one in Switzerland.

Swissquote offers a broad range of products across many markets. Their product portfolio includes a great variety of stocks, mutual funds, and a variety of other products such as bonds and cryptos.

However, nothing is free: Swissquote’s trading fees are relatively high

All in all, Swissquote is a great stockbroker. As you can trade many products and there is no inactivity fee, feel free to give it a try.

I went with Swissquote…a pretty good broker and as a beginner, I love their Theme trading but I am a bit confused with their fees.
 

Hesham

Swissquote review

FAQ

We recommend Swissquote for affluent investors who value safety and are OK with higher fees.

Below you can find links to all aspects of Swissquote in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Swissquote fees article.

What about the minimum deposit?

Our ultimate guide to the Swissquote minimum deposit is updated regularly.

How to start your Swissquote account?

Look no further than our evaluation of the Swissquote account opening.

How’s their trading app?

Here’s our expert view after checking the Swissquote trading app.

Is the quality of customer service satisfactory?

All you need to know about the Swissquote customer service.

Legit or scam?

Is Swissquote legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Swissquote is really free.

Is this broker good for beginners?

We checked it in Is Swissquote good for beginners.

Should you buy your silver bullets on Swissquote?

Research for silver bugs in the Silver buy on Swissquote guide

I want to trade options, are they available at Swissquote?

We explored the topic in Can you trade options on Swissquote?

What is the minimum account balance at Swissquote?

Check out the current account balance requirements at Swissquote in our What is the minimum account balance at Swissquote article.

Looking for commission and fees data for Swissquote?

We collected them in Swissquote commission and fees.

How do you withdraw money from Swissquote?

We tested it and collected the options and costs in How to withdraw money on Swissquote.

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