Swissquote Review 2023 Leading broker with no commission fees

Islamic swap-free accounts that comply with Sharia law are also available upon request. Select one or more of these brokers to compare against Swissquote. ForexBrokers.com also recognized brokers that demonstrated excellence and innovation with our exclusive Industry Awards. Read our full explanation and accounting of our research and testing process to learn more about how we test.

In recent years, social trading features have become increasingly common on the major trading platforms. These are popular, as they not only allow you to connect and interact with a community of traders but also give you the option to follow the investment strategies and patterns of successful traders. Particularly for beginners, social trading tools are a useful way of learning trading and investment strategies from your peers. In terms of what stock trading options Swissquote offers, once again, the selection is more than adequate. Although not the most extensive, Swissquote appears to have taken a more measured approach to building up its stock offerings.

• There are also some PDF user guides available within this section.
• Liquidity describes the extent to which an instrument can be bought and sold quickly and without moving the market.
• Although some services are not available on the app, the website covers them adequately.
• It is operational for 5 days from Monday to Friday, 8 AM to 8 PM .
• If you need to trade while on the go, you may download the Advanced Trader desktop version and use the mobile or online versions of the platform.

We are sorry to read that you are not satisfied with our customer service and our fee policy. I like the product variety, across different market places, including crypto. Swissquote strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your Swissquote trading account.

We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. To qualify for Swissquote’s FIX API solution, clients must have a minimum deposit on their account of at least $50,000. If you need FIX API trading, Global Prime are one of my top choices. I found the trading conditions are very competitive with transparent pricing and execution speeds. All trading costs are included in the spread with no commissions and no hidden costs.

Background info on Swissquote

Each available swissquote review platform is packed with its own individual features. Swissquote makes both MetaTrading platforms available, MetaTrader 4 and MetaTrader 5. The market-leading trading platforms allow users to automate their trading via robots or copy trading. Swissquote users will be able to view the profiles of hundreds of successful traders and copy their deals automatically. There are a variety of platforms available for Swissquote traders who want to expose their capital in different ways.

Particularly when compared to a number of the budget brokers, the overall cost of trading seems quite high. Commissions on stocks and ETFs are quite high when compared to some other brokers, but this should be balanced out by the relatively low costs of trading CFDs and forex currency pairs. This is definitely something to bear in mind, as if you prefer forex and CFD trading, the costs might not be too much higher than the industry average. Swissquote offers a variety of account types suitable for the differing needs of traders. There are the Standard, Premium, Prime & Professional accounts.

Swissquote Detailed Summary

You can try Trade Nation for a lower deposit requirement. It took me only a few minutes to complete the application form. Once the process had been completed, I received e-mail confirmation. Following on from that I needed to upload proof of identification such as a passport or drivers license and proof of address such as a recent utility bill. Once my documents had been verified I could fund my trading account and commence trading.

There is no minimum deposit for trading accounts, but a high minimum for forex and robo-advisory accounts. There are four live trading accounts available at Swissquote and a free demo account for beginners who wish to experiment with the features and functionalities offered by the platform. The four live retail investor accounts are standard account, premium account, prime account, and professional account. The premium account is one of the most preferred Swissquote account types. Swissquote provides mobile apps on which the Advance Trader platform is available.

Great partner in good times

Crypto platform trading very expensive, execution of any token buy or sell Swissquote charges 1% per transaction. Also, they don’t let you transfer your crypto tokens off their platform apart from BTC and ETH. So the crytos you think you hold you don’t, swissquote holds the keys and therefore you have no control over it. We are pleased to read, that you like our platform and are satisfied with our pricing model and range of products. Yes, Swissquote offers demo accounts for both the Advanced Trader and MetaTrader platforms. These ranged from the basic, for example ‘do you charge an inactivity fee?

• Traders and the friends referred will both earn CHF 100 once the referred friend opens an account and deposits CHF 100.
• Swissquote provides only a one-step login, but if you turn on Level 3 security, it prompts you to set a separate secure PIN.
• A Financial Information eXchange protocol is the international standard for trading electronically and was developed to enable greater connectivity among market participants.
• Swissquote’s margin rates are averageoverall, but higher than at the competitors in our comparison.

We test the https://forexhero.info/‘s platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money. In addition to the web-based trading platform, Swissquote has developed a bespoke desktop trading platform called Advanced Trader. Once again, this is a custom-built trading platform that combines an intuitive interface with advanced charting and analysis capabilities. Advanced Trader is packed full of charting tools, technical indicators, and various other trading tools – these give you total control of your trading portfolio. We also really appreciated how customisable it was, which makes it an attractive alternative to MT4 and MT5. In terms of how this stacks up against the competition, Swissquote obviously does not perform as strongly when compared to a cryptocurrency-focused broker.

Swissquote Fees, Spreads, and Commission

It is listed on the SIX Swiss Exchange as the Swissquote Group Holding Ltd, which is also listed on the SQN. We are glad to read, that you are satisfied with our services and customer service. Very professional and knowledgeable about the services offered.When the contact person did not know the answer to my question, she said she would find out and call me back.

They come with complimentary analysis tools and plugins. There is nominimum deposit for trading accounts at Swissquote Bank and Swissquote Bank Europe . 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.

Platforms

I had a great deal of trouble with funds transfer where they couldn’t find the funds for 6 weeks. We are pleased to read, that you are satisfied with our services. In recent months several changes have taken place, none of which have made any difference to my user experience of the trading website, but did take time to adjust to. We are sorry to read, that you are not satisfied with our crypto fees. Nevertheless, we are sorry that you have experienced the failed payment.

Swissquote’s eTrading platform is user-friendly and well-designed for mobile trading. The search tool is straightforward, albeit the results are occasionally arranged in an unusual manner, comparable to the web platform. On the mobile platform, you may configure pricing, news, and order confirmation alerts and notifications. Swissquote makes money from the bid/offer spread, commissions, overnight financing fees and miscellaneous account related fees. The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities, indices and stocks. Once you have got up to speed on a demo account, you can easily switch over to a live account.

My last support took weeks to be answered, so I am creating this complaint. Yesterday I did a review and I’m receiving phone calls from Swissquote. I would like an answer via e-mail if you have any questions or need to talk to me…please send me an e-mail, I can’t talk via telephone, I use a translator to write in English… This is just the best bank in Switzerland and I should have changed to it earlier. The crew is exceptional and I wish it will still last for a long time. We are sorry to hear that you have experienced some issues with your platform.

The relevancy of the answers was good most of the time, but on emailwe did not always get satisfactory information. Swissquote has fast phone, email and live chat support. On the other hand, the email replies were not always relevant.

Swissquote’s Robo-advisory fees vary depending on the invested amount, and they are somewhat high. A few brokers or stock exchanges charge 0.6% p.a., whereas Swissquote charges between 0.95% and 1.25%. The spread difference between the Standard and Prime accounts is around 0.6 pips.

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Please note that by investing in and/or trading financial instruments, commodities and any other assets, you are taking a high degree of risk and you can lose all your deposited money.

Educational and research materials are also first class. The Standard Account does not offer very tight spreads, but other account types are more competitive in this area. Swissquote has done a good job of keeping fees to a minimum and overall customer service was of a high standard, despite not having 24/7 availability. Overall, the costs of trading on the Swissquote platform are average. As was mentioned earlier, Swissquote does not provide the most competitive spreads that we have seen on either its CFD or forex offerings.

Only downfall the standard account spreads are to high 1.7 on eurusd. Swissquote has a very large selection of trading instruments, including an impressive 8,500+ individual stocks based on shares of AU, US, CA, UK and EU companies. I think they have a good selection of indices based on baskets of different blue-chip stocks. They have over 800+ ETFs based on exchange-traded funds containing various tradable assets. The primary benefit of using Swissquote is the appeal of holding an account with a Swiss banking conglomerate – and that comes at a slight premium. As such, trading costs are not Swissquote’s best feature, and can’t compete with what’s offered by the lowest-cost forex brokers.