Swissquote
Highlights
- Access to Many International Markets
- Trustworthy Background
Description
Established in 1996 Swissquote is a Swiss Investment Bank. Swissquote has two entities: Swissquote Bank Ltd based in Switzerland and Swissquote Ltd based in the UK. The entity in Switzerland deals in trading stocks, funds, options, and Futures while the entity in the UK deals for CFDs and Forex. The Switzerland based entity (Swissquote Bank Ltd) is regulated by the Swiss Financial Market Supervisory Authority(FINMA) and The Uk base Swiss Ltd is regulated by the Financial Conduct Authority (FCA) in the UK. Swissquote is listed on Swiss stock exchange, discloses financial reports, and has a long track record which are great signs for its safety.
Highlights
- Access to Many International Markets
- Trustworthy Background
- Safe & secure
Pros
- Global access
- No Inactivity fee charged
- Great learning tools
Cons
- Trading fee is high
- Fee on withdrawal
Main Features
Country of Regulation: Switzerland, USA, UK, Hong Kong, Singapore
Trading Fees: High
Inactivity Fees Charged: No
Minimum Deposit: $0
Products: Stocks, Theme Trading, ETFs, Swiss Dots, Opinions and Futures, Crypto Currencies, Funds, Bonds
Review
Fees
The Swissquote has high Trading fees, low forex fees, and no inactivity fee. Swissquote has trading fees, financing fees, and non-trading fees.
A/C opening
The account opening process at Swissquote is fully digitalized and fast. The minimum deposit is $0 for trading accounts, but for forex, there is a high minimum. TradeStation offers three types of accounts i.e Trading account, forex account, and Robo-advisory account. The 3 accounts have different minimum deposit requirements.
The Swissquote account cannot be opened online, going through a 3 step registration process and then account review. Swissquote also provides video identification options for account verification.
Deposit & withdrawal
Swissquote provides 3 base currencies accounts (CHF, EUR, and USD) for the stock, ETF, mutual fund, bond, and futures trading but for forex accounts, you have the option of 15 base currencies.
Swissquote offers options of bank transfer, credit/debit card for deposit.
The Swissquote(Switzerland) charges no deposit fees for bank transfer but for credit/debit card transfer there are deposit fees between 2.2% and 2.5%.
Swissquote Forex (UK) deposits are free of charge. The Bank transfer can take a few business days but Credit/debit card deposits are quick.
Withdrawal fees at Swissquote depend on where you trade, which country you transfer to, and the currency of the transaction. It usually takes 1 business day to withdraw money.
Trading Platform
The Swissquote trading platform is clear, user-friendly and available in several languages. The Swissqote trading platform provides web, desktop, and mobile trading platforms. Its trading platform is customizable and has a lot of functions.
Research
The Swissquote research offers fundamental data, recommendations, a news feed, interactive charts, trading ideas, and other research tools which is helpful.
Customer service
You can connect with the Swissquote customer service for different queries through phone, email, and live chat.