Swissquote CFD Broker Review 72

Swissquote Bank is a licensed and regulated trading and financial service provider, based in Switzerland. It is one of the oldest and best-trusted online brokerages in Europe and not only. 

Overview

Everything considered, calling the brokerage a “well-established” operation, may be a bit of an understatement. Hundreds – if not thousands – of people work for the company and it has offices all over Switzerland, as well as in a number of other countries. The official site of the operation gets more than 2 million visits each month.

Swissquote Bank’s main headquarters are located in Gland, Switzerland. Offices are also maintained in Bern, Zurich, London, Dubai, Hong Kong and Malta.

The roots of the operation reach back all the way to 1990, when the company – which later turned out to be Swissquote Bank’s precursor – was launched by Paolo Buzzi and Marc Burki. The name of this company was Marvel Communications SA. Swissquotes proper was launched in 1996 – which still makes it a genuine veteran of the online trading scene.

Over the last few years, the product-palette of the brokerage went through a massive expansion. New services were added, among them Swiss Dots, the trading platform currently used by the brokerage, online mortgage services, and Themes Trading.

Obviously, for an operation of this scale and reputation, regulation is a compulsory part of the package. The main regulatory agency behind Swissquote is FINMA (the Financial Market Supervisory Authority). In addition to regulation and license-issuing, FINMA is the supervisor of the whole of Switzerland’s financial industry, and in a country whose economy is indeed dominated by that very industry, that carries quite a bit of added weight.

Being an online banking institution, the operation is a member of the Swiss Bankers Association.

Account Types

The account selection available at the brokerage is relatively standard, yet it covers the needs of all potential trader categories quite well.

There’s a free Demo account offered, which can be used to test-run the software and to sample the trading conditions offered by the brokerage. The Demo account is only valid for 30 days.

The Standard account is the obvious choice for beginners, because it does not require an actual minimum deposit.

The Premium account takes the stakes to $25,000 though, so it is safe to say that it’s not for everyone, and it is not even the highest-tier account there is.

That would be the Prime account, which calls for a minimum deposit of $100,000.

Trading Platform/Software

In this regard, Swissquote has gone all-out. They have MT4 as well as MT5 and they have their own in-house built Advanced Trader too, which serves as the go-to basic platform of the operation.

The Advanced Trader features no fewer than 27 integrated technical indicators as well as the ability to serve up real-time news-feeds from various sources. In addition to all that, the Advanced Trader is also capable of automatic pattern-detection. In essence, that means it practically doubles as an advanced trading tool (hence the “Advanced” in its name).

MT4 and MT5 hardly need to be introduced to anyone who’s ever had anything to do with online trading. They are the most complete and advanced platforms, offering traders perks such as EAs, which add automation to the whole process.

Android- and iOS-based mobile apps are available as well.

Deposit Options

As far as deposit methods are concerned, Swissquote has made quite a few options available. They accept a number of major credit/debit cards, bank deposits as well as bank wires. They also take China UnionPay.

Markets

The brokerage provides access to a wide range of Stock Indices, Commodities, Rates and Currencies. There are scores of tradable assets and currency pairs included in every one of those categories, so it is safe to say that the market-coverage of the operation is indeed quite superb.

Warrants and Derivatives, Options and Futures, as well as ETFs, Bonds and even cryptocurrencies can be traded too. Their crypto selection consists solely of crypto/crypto pairs.

Customer Support

The Swissquote customer support is good, though it is only available from 9 AM to 6 PM every day, from Monday to Friday. The support staff can be reached through live chat, phone, and an email form. There’s a callback service available as well.

Safety

Swissquote’s profile and reputation are spotless. This operation is indeed a serious and trustworthy one and it really doubles as a full-fledged bank.

Final Thoughts

Considering all the above, the conclusion can only be one: Swissquote is a reliable online brokerage. Well regulated and with a massive market-coverage, its trading conditions are attractive as well.

Pros

  • Good account selection
  • Great trading platforms
  • Excellent market coverage
  • Spotless regulatory status and reputation

Cons

  • A convoluted and somewhat disorganized website
  • Limited support
Swissquote Overview
Regulation: FCA
Assets offered: Cryptocurrency Exchange; CFD
Minimum Deposit: No Minimum Deposit
Deposit Options