Swissquote forex review
Swissquote Ltd has education on Forex, CFDs, trading platforms, and technical and fundamental analysis.
In this review, we focus on the UK-based broker, but you will find the important information about the Swiss entity as well. Swissquote offers good investor protection.
The account opening is fully digital with no minimum funding requirement, and the product portfolio is extensive. Swissquote is not a discount broker, it employs relatively high trading fees. Its customer support, especially the live chat had troubles answering complex questions, like forex pricing when we tested.
Compare to other brokers. Swissquote is regulated by top-tier authorities. It does not offer a negative balance protection. It offers CHF , investor protection per account. Filter the brokers by investor protection.
Swissquote offers a fast, easy, and fully digital account opening process. As a plus, there is no minimum account balance requirement. This includes all European countries and most major non-European countries, e. Swissquote offers three account types. The major differences between the account types are the tradable products, the trading platforms, and the investor protection amounts. If you open your account at the Swiss entity, you can verify your identity by video.
The funding process is fast and user-friendly. On the flip side, the only withdrawal option is bank transfer. Bank transfer is available both at the London-based and at the Switzerland-bassed entity. However, only the UK entity's clients can credit card as a funding method. Neither the bank transfer nor the credit card has a fee, and they are really fast as the money will arrive within 3 days.
Swissquote's UK entity charges no fee for withdrawal, while Swiss entity does. More funding and withdrawal info. The Switzerland-based entity offers an extensive product range, better than most brokers. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Swissquote is not a discount broker, it has high trading fees, and the financing rate is mid-range. As a plus, there is no inactivity fee. Swissquote's UK entity uses the latter, i. Different currency pairs have different markups, for the full list, visit Swissquote's site. For the better understanding let's see an example: Swissquote has high forex costs.
Swissquote's Swiss entity uses a volume-based cost calculating. Higher the volume you trade, lower the costs you pay. The fee structure is transparent, which is great. On the flip side, the trading fees are really high even trading on a higher volume. We recommend Swissquote if you want to get a high-quality service and you are prone to pay a higher cost. Below you can find the cost of a typical trade of the different asset types for Swissquote and its closest competitors.
The typical trade for stock index options and futures means ten contracts. The Forex fees for a typical trade is high. Swissquote's non-trading fees are transparent, you can easily calculate what other costs can occur. As a plus, there is no inactivity fee, and clients of the UK entity don't have to pay for withdrawal.
On the flip side, clients of the Swiss entity have to pay for withdrawal and the financing rate is at the mid-range. Deposit and withdrawal fee: There is no deposit fee, but there is a withdrawal fee. It is at the mid-range if you compare to its peers. The Swiss Swissquote Bank platform is user-friendly, has good search functions and a wide range of order types. MetaTrader 4 and 5. From the market orders until the trailing stop order you will find a wide range of order types.
Another advantage is that you can use a lot of indicator and analysis tools. Alerts and notifications are available, and easy to set up. Visit web platform page. At Swissquote Bank, you have access to more than 2 million different types of financial instruments. All these different instruments can be traded in the CFDs markets or in the spot market. As for the types of trading account that are available at Swissquote Bank, they comprise of the Standard account, the Premium account, and the Prime account.
The standard does not have any minimum deposit requirement and can be opened with any amount. A free day demo account is also available to those who wish to try out the trading platforms first before committing to opening a live trading account at Swissquote Bank. At Swissquote Bank, there are no commission charges payable upon executed trades. Instead, traders have to pay a small spread on the trades that they make.
The spreads are competitive but differ according to the type of trading account that the trader is trading from. The following table below shows the typical spreads that a standard account can expect to receive from Swissquote Bank. As for the depositing and withdrawals of funds at Swissquote Bank, the broker currently has provided 4 main types of payment options. The customer support service at Swissquote Bank is available from 9. You can contact the support team through live chat, fax or the telephone.
You can also request a call-back by leaving a message on the contact form provided on the website. You can fund your trading account at Swissquote Bank through bank wire transfer, credit cards, China UnionPay and direct bank deposits. To open an account at Swissquote Bank, you will need to first fill up the registration form and then submit it with all the necessary documentation.
Yes, Swissquote Bank is a reliable broker that is well known within the financial trading industry. Swissquote Bank is a safe broker. It is regulated by a leading financial regulatory body and is technically a bank as well. With its standing as a bona fide Swiss bank, Swissquote Bank is able to gain the trust and confidence of the online trading community. The broker has also one of the widest selections of instruments for you to trade with.
In addition, they also offer a good range of trading tools for you to enhance your market analysis. Finally, by not requiring a minimum deposit on their standard account, the broker has made it very easy for anyone to open a trading account with them. Swissquote Bank Review This page may not include all available products, all companies or all services.
Swissquote Bank Review With its roots going as far back as , Swissquote Bank is an online financial services provider that is part of the Swissquote Group. Swissquote Bank Reliability As a well as an established financial services provider, there is no doubt about the reliability of Swissquote Bank. Sophisticated Trading Tools To further support their traders, Swissquote Bank has also provided extra advanced trading tools for free to them. Swissquote Bank Account Types As for the types of trading account that are available at Swissquote Bank, they comprise of the Standard account, the Premium account, and the Prime account.
Where is Swissquote Bank based? Swissquote Bank is based in Switzerland. Their head office is located in the city of Gland. How does Swissquote Bank make money?
Swissquote Bank makes its money by charging traders a small spread on the trades that they made. How to deposit in Swissquote Bank account?
How to withdraw money from Swissquote Bank? Withdrawals at Swissquote Bank can be done through bank wire transfer or by credit cards.
How to open an account with Swissquote Bank? Is Swissquote Bank reliable? Does Swissquote Bank use MetaTrader? The leverage at Swissquote Bank by default is capped at 1: Is Swissquote Bank a scam? No, Swissquote Bank is not a scam. It has been in business since
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