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Swissquote Review
Swissquote is a provider of forex trading services. Traders can access a wide range of products in a variety of markets, including currencies, shares, indices, and commodities.
Pros
- Used by 330,000+ traders
- Established in 1996
- Regulated by Financial Conduct Authority
- Min. deposit from $1,000
Cons
- Doesn’t offer VPS (See alternatives)
- Limited range of instruments
- Not ASIC Regulated (See alternatives)
A minimum deposit of $1000 is required for a live account. Swissquote, on the other hand, provides a free demo account that you may utilize to experiment and familiarize yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 562170), all Swissquote client funds are held in a segregated bank account and they work with tier-1 banks. Swissquote was established in 1996 and their head office is in GB.
Before we get into the specifics of Swissquote’s spreads, fees, platforms, and trading tools, you might want to open the Swissquote website in a new tab by clicking the button below to get the most up-to-date information directly from the company.
Disclosure: If you sign up with a broker through one of our links, we may receive a commission.
What are Swissquote’s spreads & fees?
Swissquote, like most brokers, charges a fee based on the spread, or the difference between the bid and ask price of an instrument.
The commissions and minimum spreads shown here are taken from Swissquote’s website.
| Forex | Swissquote | City Index | XTB |
| EUR/USD(Average: 0.7 pips) | 1.0 pips | 0.7 pips | 0.1 pips |
| GBP/USD(Average: 1.1 pips) | 1.1 pips | 1.7 pips | 0.1 pips |
| USD/JPY(Average: 1.1 pips) | 1.3 pips | 0.6 pips | 0.1 pips |
| AUD/USD(Average: 0.8 pips) | 1.0 pips | 0.6 pips | 0.2 pips |
| USD/CHF(Average: 2.3 pips) | 1.7 pips | 2.3 pips | 0.2 pips |
| USD/CAD(Average: 2.9 pips) | 2.2 pips | 0.5 pips | 0.3 pips |
| NZD/USD(Average: 3.6 pips) | 1.5 pips | 2.8 pips | 0.3 pips |
| EUR/GBP(Average: 2.4 pips) | 1.3 pips | 0.5 pips | 0.1 pips |
The spreads are variable and are displayed for information purposes.
As you can see, Swissquote’s minimum EUR/USD spread is 1 pip, which is high when compared to the average EUR/USD spread of 0.70 pips.
The table below compares the costs of trading one lot of EUR/USD with Swissquote vs. similar brokers.
How much does Swissquote charge to trade 1 lot of EUR/USD?
You would likely spend $8 if you bought one standard lot of EUR/USD (100k units) with Swissquote at an exchange rate of 1.1719 and then sold it the next day at the same rate.Here’s a quick rundown of the fees and how they compare to IG and XTB.
| Swissquote | IG | XTB | |
| Spread from: | $ 10.00 | $ 6.00 | $ 2.00 |
| Commission: | $0.00 | $0.00 | $0.00 |
| Total cost of a 100k trade: | $ 10.00 | $ 6.00 | $ 2.00 |
| $4 less | $8 less | ||
| VISIT SWISSQUOTE | VISIT IG | VISIT XTB |
Fees and quotes are displayed for information purposes and could change.
What can you trade with Swissquote?
Over 189 different instruments, including over 138 currency pairs, are available to trade at Swissquote. Below, we’ve summarized all of Swissquote’s several types of instruments, as well as the instruments given by IG and XTB for comparison.
| FX / Currencies | Swissquote | IG | XTB |
| # of forex pairs offered | 138 | 90 | 48 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies* | No | Yes | Yes |
| Commodity CFDs | Swissquote | IG | XTB |
| # of commodities offered | 7 | 34 | 21 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | No | Yes | Yes |
| Index & Stock CFDs | Swissquote | IG | XTB |
| # of stocks offered | 0 | 8000 | 1606 |
| UK shares | Yes | Yes | Yes |
| US shares | Yes | Yes | Yes |
| German shares | Yes | Yes | Yes |
| Japanese shares | Yes | Yes | Yes |
| SEE SWISSQUOTE’S INSTRUMENTS | SEE IG’S INSTRUMENTS | SEE XTB’S INSTRUMENTS |
What’s the Swissquote trading experience like?
1) Platforms and apps
Swissquote is one of the few brokers that provides both the MT4 and MT5 MetaTrader platforms. You may read our MT4 versus MT5 comparison here to see how the two platforms compare. Traders can trade on their preferred device thanks to a combination of downloadable programs for Mac and Windows.
Swissquote offers Android and iOS mobile apps, making it easy to keep track of and execute deals while on the go.
Still not sure?
Open a demo account and learn how to trade.
2) Executing Trades
The maximum and minimum trade size depends on the account you open. You can expect tighter spreads and more transparency over the amount you pay to execute your trades because Swissquote offers STP execution.
Swissquote, as a market maker, may have lower entrance criteria than an ECN broker, which benefits from the bigger number of trades and often has higher capital and minimum trading requirements.
Market makers usually offer a lower minimum deposit, fewer minimum trade requirements, and zero commission trading.
Margin requirements vary by trader, account, and instrument, as they do with most brokers. On their website, you may see the most recent margin and leverage details.
We have included a list of some of the most common funding options that Swissquote provides to its traders.
Trading Features:
- Allows scalping
- Allows hedging
- Low min deposit
Accounts offered:
- Demo account
- Mini account
- Standard account
Funding methods:
- Credit cards
- Bank Transfer
- Payoneer
3) Client support
Swissquote offers support in many languages like English, German, French, Italian, Spanish, Arabic, Russian, and Chinese.
4) What you’ll need to open an account with Swissquote
Because Swissquote is regulated by the Financial Conduct Authority, every new client must pass a few simple compliance tests to confirm that you are aware of the risks associated with trading and that you are permitted to trade. You’ll probably be asked for the following information when you register an account:
- a color copy of your passport, driver’s license, or other government-issued identification
- a three-month utility bill, bank or credit card statement that shows your current address
You’ll also need to answer a few questions regarding your trading experience, so set aside at least 10 minutes to finish the account opening procedure.
You may be able to explore Swissquote’s platform right away, but you will not be allowed to make any transactions until you pass verification, which depending on the circumstances could take from a few hours up to a few days.
To begin the on-boarding process with Swissquote, you can go to their website.
79% of retail investor accounts lose money when trading CFDs with this provider.
