Are you considering to trade with Swissquote? Wondering if Swissquote is scam or reliable? The company was established in 1996 as an online provider of financial services that is part of Swissquote Group Holding Ltd. Now the Golden question: "Is Swissquote scam or reliable?" please find our broker review and rating in the below given detailed sections. In this unbiased free atozmarkets.com forex broker review, we share our findings, however, it is limited. If you are from Swissquote, please contact us to fill the rest of the information.
Based on our readers-first policy, putting their safety as a priority in our business line, we, as AtoZ Markets, scrutinize not only the broad headline with which a brokerage platform identifies itself, but even the smallest details about it. This comes from our belief in values in the first place, and the must-have truth and transparency in what we publish on our website, en route of keeping the trust our readers put in us, which of course has contributed much to our name and stands behind its continuous ascendance. For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation, when it comes to presenting our audience with an overview about a brokerage firm. In this review, we host Swissquote.
With its brokerage head office situated at Chemin de la Crétaux 33, 1196 Gland, Switzerland, Swissquote, which currently boasts of having more than 300,000 private and institutional clients, holds a license by the Swiss financial regulator, the Financial Market Supervisory Authority (FINMA). It has also been licensed and regulated by the UK financial regulator, the Financial Conduct Authority (FCA), to offer CFDs and Forex trade.
The trading platforms you can choose between with Swissquote are Metatrader 4 (MT4), MetaTrader 5 and AdvancedTrader. AdvancedTrader is Swissquote’s proprietary platform, available as desktop, web and mobile versions. It is user-friendly, yet one may not trade CFDs on it and EAs are not supported.
Swissquote Bank offers three types of trading accounts which comprise of the Standard account, the Premium account, and the Prime account. The major differences between these accounts are that the standard account can be opened with any amount as it does not have any requirement for a minimum deposit. However, while the Premium account requires a minimum deposit of $25,000, the Prime account needs a minimum deposit of $100,000. Meanwhile, there is a free 30-day demo account available for people who wish to try them out for before committing themselves to a live trading account.
Starting in 2017, Swissquote Bank became the first online brokerage firm in the world to launch trading of underlying cryptocurrencies (non-CFD). Starting with Bitcoin first in December of the same year, it later expanded quickly to also offer Ripple, Ethereum, Bitcoin Cash, and Litecoin; thus establishing itself as a trusted brand and a leader in the industry.
Swissquote offers variable spreads, starting from to 1.8 pips on EUR/USD (on the Standard account), which is a comparatively high value, however, the broker charges no commission. Swissquote offers traders maximum leverage of 1:100, which is considered a low ratio for the market.
Formally, Swissquote Bank Ltd is based in Switzerland and regulated by FINMA, the Swiss financial regulator. This one offers stocks, funds, bonds, futures and options. The other, Swissquote Ltd is UK based, regulated by the FCA, the UK financial regulator, and offers CFDs and FX.