Swissquote is also a registered member of the Financial Services Compensation Scheme . Therefore, clients can seek compensation of up to 50,000 GBP in case the company becomes insolvent. To protect clients’ confidential data, the company enforces advanced web security protocols with eur SSL encryption and 2F authentications. Keeping in view all the safety measures the company employs to protect clients’ financial and confidential data, I can say Swissquote is a trustworthy broker. If a broker has a score less than 80, like this one, we won’t recommend it to you.
The Mini Terminal is also highly convenient for efficient management of positions. The features in the Mini Terminal help with risk and order management. This is done via integrated calculators for margin and lot-size and preset trailing stops, take-profits, and stop-loss.
Swissquote Bank offers 60 currency pairs for trading, gold and silver are available as well. Swissquote Bank does not offer trading on ECN accounts and does not provide currency trading for the United States citizens. The maximum lot size for all trades irrespective of account type is 100 lots. As we can see, operating a forex account with a Swiss-based forex broker is not cheap. You must therefore be prepared for the venture financially before you jump in. It is also worth mentioning that Swissquote Bank now offers gold-denominated accounts.
When cooperating with Swissquote through Traders Union, it is possible to significantly reduce the cost of the spread. To do this, you just need to register for free on the Traders Union website, then open a trading account with Swissquote and start trading with this broker. For each completed transaction, even unprofitable, part of the spread will be returned to the client’s balance at Traders Union.
Swissquote is trying to be a bank, forex platform and even pension manager. Trying to be too many things is trying too hard they should focus on one or the other.
Essentially, the higher the deposit the tighter the spreads are. The bank uses a proprietary agency/principal execution trader model for speed and reliability and offers its own Advanced Trader platform for Desktop, Web and Mobile.
Spreads in Premium and Prime accounts start from 1.3 pips and 0.6 pips, respectively. The company charges no commission on both account types. Traders can sign up for the premium account with a $1000 Swissquote Forex Broker Review initial deposit. However, traders opening the prime account need to deposit $5000 at least. And for those of you who are already hooked on the MetaTrader trading platform there is MT4 and MT5.
The broker also applies inactivity fees for traders holding a professional account. You should consider whether you can afford to take the high risk of losing your money. 74-89% of retail investor accounts lose money when trading CFDs. You should ensure you are aware of the risks involved in trading and if you can afford to take the high risk of losing your money. The very first thing we must say about Swissquote broker – in order dispel all kinds of doubt – is that it is owned by a real Swiss-based bank institution. As to the history of Swissquote Forex trading platform, it began back in 2000 and since then, this huge brokerage unit has succeeded to advance with a huge speed among the entire financial world. As for me, mobile trading has many advantages, and the most crucial thing is the ability to trade from anywhere.
Instead, this account is for those professionals who are not afraid of taking risk by trading with big sums of money. In addition to what has already been mentioned in terms of regulation, it must also be mentioned that SwissQuote is currently present in the United Kingdom as well.
Swissquote Account Types
We have also forwarded your feedback to the responsible team. We are sorry to hear that some of our services did not satisfy your expectations. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. If you want a serious broker with serious regulation and the best safety of funds this is the spot. Yes there is cheaper but this is a premium swiss broker and that comes a slightly higher costs.
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The Group’s shares have been listed on the SIX Swiss Exchange under the ticker symbol “SQN” since 29 May 2000. The Group’s headquarters are located in Gland, Switzerland.
- Other regulators of the firm include the Swiss Financial Market Supervisory Authority , Monetary Authority of Singapore , and Securities Futures Commission .
- Stop Loss orders are guaranteed only during market hours and under normal trading conditions.
- With a diverse portfolio of tradable assets and flexible account types, Swissquote can be the best fit for traders looking for low-cost forex trading experience.
- This prevents missed opportunities and saves time spent analyzing charts.
- As of 2020, Interaxx’s entity was rebranded to Swissquote Bank Europe SA. Its purpose – among other things – is to provide access for European clients after Brexit to trading.
- It’s grown by $ % in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.
My personal account is a real catch for me and everything is intuitive and transparent. Trading conditions are one of the best in the Forex market and might blow you away; the spreads are one of the lowest. Qualified support will try to solve all your sensitive matters in a snap. I’ve never had any major problems regarding withdrawal or trading. Risk Warning – Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you are fully aware of the risks involved and the high probability of losing your money.
Our Swissquote review gives you the most up to date appraisal. We have tested all aspects from trade to platforms for your peace of mind. In August 2018, Swissquote acquired the Luxembourg-based Internaxx Bank SA to gain unrestricted access to the European market. Following regulatory approval by the European Central Bank and the CSSF in Luxembourg, the company was renamed Swissquote Bank Europe SA and Foreign exchange market is now a fully owned entity of the Swissquote Group. Swissquote Asia Ltd, based in Hong Kong, is regulated by the Securities and Futures Commission and holds a type 3 licence . Swissquote Bank SA holds a banking licence and is regulated by FINMA, the Swiss Financial Market Supervisory Authority. In addition to its head office in Gland, the bank also has offices in Zurich, Bern, Dubai and Hong Kong.
A screenshot of the Swissquote Advanced Trader web platform is shown below and is covered in more detail in the video review. Swissquote Bank’s parent company, Swissquote Group Holdings Ltd, is listed on the SIX Swiss Exchange , thus providing a high level of transparency and oversight. Is Swissquote legit features all the key aspects you need to look at to see if a broker is safe and legit. Here’s our expert view after checking the Swissquote trading app.