Swissquote Review

By | March 10, 2021

Swissquote is a Swiss Investment Bank based in Switzerland, and established in 1996. It has two branches, one is situated in Switzerland and provides trade in stock, futures, funds and options. While the other located in the UK deals with CFDs and Forex.

Swissquote holds a banking license & is also listed on the swiss stock exchange. It also discloses its financial details on time which make it safe to consider. 

Swissquote Bank Ltd. which is situated in Switzerland, is regulated by the Swiss Financial Market Supervisory Authority (FINMA). 

The other entity, Swissquote Ltd. located in the UK is regulated by the Financial Conduct Authority (FCA). 

Here, we will refer to Swissquote located in Switzerland as SwissCH & other of Swissquote forex as SwissUk in whole content. So don’t get confused by terminologies. 

swissquote

Account Opening 

The Swissquote account opening process is fully digital and straightforward. It  took some time to open your account. They don’t charge any minimum amount for trading accounts, but have high forex and robo advisory account charges. 

SwissUK is available for clients around 150 countries in the world, whereas SwissCH serves 120 countries.

What is the minimum deposit at Swissquote?

There is no minimum deposit for trading accounts at SwissCH. 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.

Account Types:

SwissCH account types along with minimum deposit and more

Minimum Deposit Tradable ProductAvailable Trading Platform
Trading accountNo minimumEquities, ETFs, Funds, Bonds, Futures, Options, Forex, and CFDseTrading
Forex account$1,000-50,000Forex and CFDsAdvanced Trader, MetaTrader 4, MetaTrader 5
Robo-advisory account$/€/£ 5,000Robo-advisor invests in fundsRobo-advisor’s platform

SwissUK account types along with its minimum deposit 

Minimum Deposit Spreads CommissionMaximum Leverage
Premium account€1,000From 1.3 pipsNo commissionas per ESMA-regulation
Prime account€5,000From 0.6 pipsNo commissionas per ESMA-regulation
Elite account€10,000From 0.0 pips€2.5 per lot per tradeas per ESMA-regulation
Professional€10,000From 0.0 pips€2.5 per lot per trade1:400

To qualify for the professional account, you have to satisfy these three criteria: 

  • Trade with derivatives, like CFD or forex, in significant size and on average 10 times per quarter over the last four quarters.
  • Have a portfolio of at least €500,000.
  • You had to work in the financial sector for at least one year.
swissquote

Fees

Swissquote fee snapshot

Assets Fee Terms
US stockVolume-tiered commission ranging between $15 and $190
EURUSDThe fees are built into the spread, 1.6 pips is the average spread cost during peak trading hours.
Mutual fund$9 per trade from Prime Partners (BlackRock, Fidelity, HSBC, etc.) and $0 per trade for funds under Swissquote’s custody
Inactivity feeNo inactivity fee charged
swissquote

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Stock & ETF Fees

Swissquote stock and ETF commission of a $2,000 trade

US stock$25.0
UK stock$32.5
German stock$30.0

Swissquote stock and ETF fees on major markets

Transaction value ($)Switzerland (CHF/USD/EUR)US (USD)UK, Germany, Scandinavia, Spain, Canada (EUR/GBP/CAD)Australia (AUD)Hong Kong (HKD)Singapore (SGD)
0 – 500915253525035
500-2,0002020253525035
2,000-10,0002930305035045
10,000-15,000495555800075
15,000-25,000807980120750110
25,000-50,0001352001352001100190
More than 50,0001902001902901600270

Swissquote annual margin rates

USD margin rate4.4%
GBP margin rate4.3%
EUR margin rate4.3%

Swissquote forex benchmark fee of a $20,000 held for one week

EURUSD benchmark fee$8.7
GBPUSD benchmark fee$6.6
AUDUSD benchmark fee$8.2
EURCHF benchmark fee$5.7
EURGBP benchmark fee$8.7

Swissquote bond fees on the Swiss market

Transaction value ($)Transaction fees (CHF/USD/EUR/AUD/CAD/GBP)
0-5009
500-2,00020
2,000-10,00030
10,000-15,00055
15,000-25,00080
25,000-50,000135
More than 50,000190

Swissquote options fee

Trading fee per contractMinimum
EUREX – stock index options€/CHF 1.00€/CHF 5.00
EUREX – stock options€/CHF 1.50None
CME E-mini NASDAQ and E-mini S&P 500$1.99$5.00
US stock options$1.49None
Euronext, LIFFE stock index options€/£ 2.00None
Euronext, LIFFE stock options€/£ 1.50None

Swissquote future fee

Trading fee per contractMinimum
EUREX – stock index futures€/CHF 1.00€/CHF 5.00
CME E-mini NASDAQ and E-mini S&P 500$1.99$5.00
E-micro EUR/USD$2.50$5.00
Other futures currencies$5.00$5.00
E-mini crude oil and WTIGold and silverUS T-bonds & NotesE-mini Dow$1.99$5.00
Euronext, LIFFE* stock index futures€/£ 2.00None

Crypto fees

Swissquote provides cryptocurrencies for trading. There is a bid-ask spread, plus a commission, which is:

  • 1% for trade volume of up to CHF 10,000
  • 0.75% for trade volume between CHF 10,000–50,000
  • 0.50% above CHF 50,000 

Robo advisory

Swissquote robo-advisory fees

Money invested (CHF)Total annual fee of the portfolio
10,000 – 200,0001.25%
200,001 – 350,0001.10%
350,000+0.95%
swissquote

Deposit & Withdrawal

Deposit at Swissquote is easy and can be done in several ways. You can use credit/debit cards along with bank transfer to deposit funds to Swissquote A/c. 

While on the other hand, it allows withdrawals only through bank transfer and that too at chargeable cost. Swissquote withdrawal fees depend on where you trade, which country you transfer to and the currency of the transaction. 

Withdrawals at SwissUK are free of charge, while SwissCH charges €2 for euro withdrawals and $10 for US dollar withdrawals. 

SwissCH is available in 21 languages, and SwissUK is available in 9 languages. 


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Trading Platform

Swissquote provides three types of trading platform:

  1. Web Trading Platform

The SwissCH e-trading platform has a lot of options which sometimes make it difficult to use. Although it has good customizability and provides a clear report. 

Swissquote trading platforms

Trading PlatformTradable Product Swissquote entity
eTradingEquities, ETFs, Funds, Bonds, Futures, OptionsSwitzerland(Swissquote Bank Ltd)
Advanced TraderMetaTrader 4MetaTrader 5Forex and CFDsSwitzerland, UK(Swissquote Bank Ltd, Swissquote Ltd)
swissquote
  1. Mobile Trading Platform

Swissquotes’ e trading mobile platform is simple to use and is user friendly. But like the web platform the organization of options here is also a little bit fizzy. 

Swissquote provides mobile trading platforms for all of its web trading platforms:

  • eTrading
  • MetaTrader 4
  • MetaTrader 5
  • Advanced Trader
  1. Desktop Trading Platform

Swissquotes’ desktop trading platform is provided by MetaTrader. It does not have its own desktop platform. Desktop platform is not available for forex, shares and bonds trading. 

If you want to trade in CFD & forex you have to choose among the following to trade: MetaTrader4, MetaTrader5 and Advanced Trader. 

MetaTrader4 platform is available in 41 different languages.

swissquote

Products Offered 

At SwissCH you can trade in many assets, while with SwissUK you can trade only in CFD & forex,

Swissquote Product Selection

Stock markets (#)60
ETFs (#)1400
Fund providers (#)340
Bonds (#)53,400
Options markets (#)6
Futures markets (#)6

Cryptos

  • 0x
  • Augur
  • Bitcoin
  • Bitcoin Cash
  • Chainlink
  • EOS
  • Ether
  • Ethereum Classic
  • Litecoin
  • Ripple
  • Stellar
  • Tezos
swissquote

Research & Education

Research tools provided  by Swissquote are average, they charge fees for using some advanced level tools. It provides trading ideas in the form of themes. You can pick themes from available and can trade accordingly.

Swissquote offers ebooks, video lectures, tutorials and PDFs for easy learning. It also provides demo accounts to learn trading and even robo advisory services. 

Very few or might be no one else provides a demo account to check robo advisory services. 

Safety

  • Swissquote Bank Ltd is based in Switzerland and is regulated by FINMA. If you are a client here, you get CHF 100,000 investor protection per account.
  • Swissquote Ltd is based in the UK and regulated by the FCA. Clients are covered by £85,000 in investor protection per account.

Swissquote investor protection

Country of Client Protection AmountRegulator Legal Entity 
120 countriesCHF 100,000 for cashSwiss Financial Market Supervisory Authority (FINMA)Swissquote Bank Ltd
150 countries£85,000Financial Conduct Authority (FCA)Swissquote Ltd
Residents in the Middle EastCHF 100,000 for cashDubai Financial Services Authority (DFSA)Swissquote MEA Ltd
China and the regionNo protectionHong Kong Securities and Futures Commission (SFC)Swissquote Asia Ltd
SingaporeNo protectionMonetary Authority of Singapore (MAS)Swissquote Pte Ltd

Customer Service

You can contact Swissquote via:

  • Live Chat
  • Phone
  • Email

No 24/7 service available

Pros Cons
Rock-solid backgroundHigh trading fees
Access to many markets and productsSome research tools are not free
No inactivity feeHigh bond fees
Credit/Debit card availableForex and robo-advisor accounts have high minimum
Two-step (safer) loginRecommendations are not structured

FAQ’s

How do I get my tax statement?

If you require a detailed tax statement for the past year, you can order it for CHF 100 from 1 January in your account via «Documents > Request statement».

An earnings report (KPMG statement) for foreign tax authorities (e.g. under German tax law) can be ordered by telephone. Charges on request.

What investor protection does Swissquote provide?

Swissquote Bank Ltd holds a banking licence and is therefore subject to the supervision of FINMA . Swissquote Bank Ltd is a member of the Swiss Bankers Association (SBA) and a signatory of the Depositor Protection Agreement. This agreement provides each bank creditor (Depositor) with immediate protection of up to an equivalent of CHF 100,000 for cash savings should a bank become insolvent. Should Swissquote Bank Ltd become insolvent, securities are fully guaranteed if they are held by the respective custodians in your name.

Change of name; what do I have to do?

When you change your name, send them a copy of your new identification document/passport in your new name as well as the certificate for the change of name (marriage certificate/divorce certificate). One of these documents has to be certified.

Which markets can I place trades on?

Our mobile apps for Android and iOS enable you to trade directly on most markets. However, on some markets, technical constraints mean that the mobile apps will redirect you to the Swissquote website. Currently, you may access directly on SIX, US, Swiss DOTS and Options & Futures.

Swissquote Review

9.5

Account

9.4/10

Trading Platform

9.5/10

Products Offered

9.4/10

Tools

9.7/10

Pros

  • No inactivity fee
  • Two-step (safer) login

Cons

  • High bond fees
  • High trading fees

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