Swissquote charges a minimum fee as well as a percentage fee, which is quite high. The stock/ETF commission for Swissquote Bank Europe (LUX) is 0.1% with a minimum of €14.95 (€24.95 for Japan). Funding can be completed using GBP, EUR, CHF, AUD, JPY, PLN, CZK, HUF and USD. To compliment the morning news report there is a daily video news report, covering geopolitical themes and major economic news stories. The segments are fairly in depthin-depth at ten minutes long and well written and produced. Swissquote provides high quality news and research by in-house analysts.
Demo accounts are available for you to test the different trading platforms and conditions before opening a real account. I think this is a great way for you to see if the broker is suitable for your needs before making a financial commitment. 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.
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. We ranked Swissquote’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.
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. Swissquote offers deposits via credit card and bank wire, while withdrawals can only be made via bank wire. While deposit and withdrawal methods are limited, processing times are faster than the industry average. Swissquote does not charge any deposit, withdrawal or account closing fees. There is an inactivity fee of 10 units of your local currency per month if you have no open positions and have not been trading during a period of 6 months or more.
There are no fees for cryptocurrency deposits over the value of $500, however there is a flat fee of $10 for deposits under such value, as well as for withdrawals. In the following Swissquote review, we look at what trading options the platform has to offer, as well as appraising its user interface and various other features. We will also take a look at the enhanced security protocols that have established Swissquote as one of the best crypto exchanges on the market. Swissquote offers four different accounts, which is slightly higher than average for the industry. Swissquote provides 24/5 customer support via online chat, telephone and email.
Additionally, the broker offers the popular MetaTrader 4 and 5 platforms, which are favored by many traders for their advanced charting capabilities and expert advisor features. Swissquotes is a reputable broker in the Forex & CFD trading space with excellent regulation and a large range of Forex pairs. Targeting mainly professional traders, its minimum deposit requirements swissquote review are high, but spreads are wider than the industry average. Swissquotes offers support for a wide range of platforms and premium tools, including Autochartist, Trading Central, and MetaTrader Master Tools. One drawback for beginner traders is the high minimum deposits and lack of research and educational materials, forcing traders to self-educate elsewhere.
They also have a portfolio service called Robo-Advisory if you want a hands-free trading experience. MT4 has a wealth of built in technical indicators which can be applied to multiple chart types and 9 timeframes. I like these indicators because they can be used to spot trends, ranges and to analyse the market for potential trade opportunities.
Swissquote Risk Statement
I haven’t seen this tool being offered by most brokers which makes it a pretty unique offering. JForex, Dukascopy’s Forex trading platform, is available on Mac, Windows, and Linux operating systems. You can also trade through it online as well as on Android and iOS devices.
The only black spot is that they are very expensive, their fees are high and not flat. One can actually buy a pack of 20 flat rate transactions @ 39 CHF!!! Which is ridiculously high.In the end, it all depends on how much money one has in the account.
Swissquote-regulated brokers offer more than 160 forex and CFD financial instruments on award-winning trading and investment platforms to more than 330,000 clients worldwide. Swissquote customer service team operates five days a week from Monday to Friday between 8 AM to 8 PM (UK time). The support team is responsive and offers high-quality service with effective solutions on a wide variety of topics, including how to use platform APIs or retrieve forgotten passwords. The clients can contact the support team through different channels – email support, live chat, telephone support, or visit them at their office in the UK. 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.
The Prime Account is designed for institutional clients and provides them with a dedicated account manager, as well as access to exclusive liquidity and pricing. This makes Swissquote one of the best brokers with advanced charting tools for beginners with minimal chart pattern analysis experience. The broker also offers an additional Robo-advisory service that has received positive customer reviews. Swissquote traders access 8 timeframes, 17 overlays, 27 different indicators, and complex market orders, including OCO (Order Cancels Other) and If Done. The platform also has a hedging feature that is mostly offered upon request.
I have similar problems like others – I find them incredibly difficult to deal with, incompetent and very sluggish. I have tried to move a 30k position to another broker more than three months ago. I sent them an incredible 15 chasing e-mails in the meantime and they just refuse to move the position. Our ultimate guide to the Swissquote minimum deposit is updated regularly.
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Being heavily regulated which will be further explained in the following part of this review, SwissQuote is one of the most trusted brokers for Forex trading that are currently present on the market. The prestige that the entire banking sector of Switzerland is so proud of has also become an inevitable part of the SwissQuote Forex broker. Swissquote is well suited to affluent traders who are able to make relatively large deposits for opening accounts, which have minimum deposits ranging from $1,000 to $50,000. This broker can cater well to novice traders with its intuitive platform and extensive educational materials. Advanced traders can take advantage of more competitive spreads in the Premium, Prime and Professional accounts. They can also make use of the sophisticated features available within Advanced Trader and MetaTrader platforms such as strategy backtesting, automation and fund management tools.
Swissquote offers a variety of account types suitable for the differing needs of traders. The main differences between the accounts are the spreads offered, minimum deposit required and minimum lot size. Risk Warning – CFDs are complex instruments, and trading involves risk of losing money rapidly due to leverage.
In addition to the 30+ built in indicators, I also had access to thousands of free and paid custom indicators and EAs from the MQL market place which can be accessed from within the platform. MT4 has 24 analytical objects which I found very useful for chart analysis including lines (support, resistance, etc), channels, Gann and Fibonacci tools, shapes and https://traderoom.info/ arrows. One of my favourite features of this platform is that you can personalise the interface according to your preferences with the instruments and tools that you need. Swissquote has a proprietary web platform, Advance Trader, that offers a customizable interface allowing traders to manage and arrange the layouts according to their requirements.
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People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Swissquote is listed on the stock exchange, which is a big plus for safety as Swissquote releases financial statements regularly and transparently. Response times were short on the phone (1-2 minutes), email (1 day), and live chat (few seconds).
- Swissquote offers the MetaTrader 5 (MT5) platform to its clients, which is the successor to the popular MT4 platform.
- The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
- I’m getting 10 times a better service for a fraction of the price with another new broker.
- This makes the platform ideally suited to those who travel a lot or have business interests overseas – especially as the platform supports a huge range of fiat currencies.
- So let’s dive in and take a look at how the different entities of Swissquote across the globe are regulated and how this impacts you as a trader.
Swissquote is a leading online broker with multiple regulations, a large range of trading instruments, competitive spreads and zero commissions. They offer powerful and user-friendly trading platforms, flexible account types, advanced trading tools and educational materials. Spreads are competitive whilst there is zero commission charged on your trades.
Is Swissquote a real bank?
Swissquote Group Holding SA is a Swiss banking group specialising in providing online financial and trading services. 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.
Swissquote offers an industry leading level of trustworthiness and an impressive proprietary platform. 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. The mobile trading app is very user-friendly and
offers all the features and tools available on the desktop trading platform.
The Elite Account and the Professional Account charge a commission of EUR2.5 per side per lot traded. Overall, Swissquote is often seen as competitive in terms of spreads and commissions when compared to other major brokers. Overall, demo accounts are a valuable resource for any trader who wishes to sharpen their skills and become more proficient in their trading activities.
It also offers a variety of DIY tools that let traders personalise their layout with customised charts, drawing tools and indicators. Swissquote offers a great range of trading platforms, including MT4, MT5, and its own platform Advanced Trader powered by TradingView. Autochartist is an automated technical analysis plugin for MT4 that is available free of charge to Swissquote clients.
Swissquote Advanced Trader is a proprietary trading platform developed by Swissquote. It is a fully customizable platform designed to cater to the needs of professional traders. The platform offers advanced charting tools, a variety of technical indicators, and the ability to create and backtest trading strategies using the integrated programming language. Swissquote Advanced Trader also offers real-time news and market analysis to keep traders up-to-date with market events. Swissquote offers a range of trading platforms suitable for both beginner and advanced traders. Its flagship platform is the Advanced Trader, which is a user-friendly and customizable platform that provides access to multiple markets and a wide range of trading tools.
Swissquote’s educational materials are adequate but not as good as the best brokers in this space. A well-designed trading app, Advanced Trader is more customisable than many other trading apps and comes with a range of advanced order types such as OCO, If Done and If Done/OCO. A well-regulated broker, Swissquote ensures that all Anti-Money Laundering rules and regulations are followed, and as such, all withdrawals are returned to the deposit source.
The user experience with the Advanced Trader web platform is smooth, with an uncluttered, easy to navigate interface. With popular features such as 1-click trading and the availability of advanced order types like trailing stops, the platform can cater to traders with different levels of experience. Swissquote is a multi-asset broker offering a
wide range of tradable markets, including forex, stocks, ETFs, bonds, options,
futures, CFDs, and supports crypto trading. The Swissquote trading platform is backed by an investment bank of the same name and has three different kinds of accounts available. Whilst this is great for traders looking for versatility, it does make the issue of jurisdictions and limits slightly more complex, as not every account type is available in every domain.
How do I withdraw money from Swissquote?
‡ To request a withdrawal of funds, kindly fill out this form and send it via email to firstname.lastname@example.org or fax it to +41 22 999 94 42.