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Should You Trade with Swissquote? Read This Broker Review First

Swissquote

Swissquote was founded in 1996 and is a publicly traded bank with four top-tier licenses. Because it is a bank, it must comply with numerous regulations, and therefore, it is more secure than many brokers you may find online. Swissquote was among the first trading banks in the world to offer actual cryptocurrencies for trading.
Swissquote has several advantages, such as security and strong educational resources, but many of its customers find its spreads confusing and rather high.
Should you trade with Swissquote? Broker Complaint Registry has investigated Swissquote thoroughly and has created this review to guide consumers’ financial decisions. It is important to research even quality brokers before entrusting your funds with them. Our team of financial experts has asked the right questions and examined Swissquotes services in-depth. The following review is what we discovered about Swissquote.
Year Founded 1996
Regulation Securities Futures Commission (CFC), Monetary Authority of Singapore (MAS), Swiss Financial Market Advisory (FINMA), Financial Conduct Authority (FCA),
Minimum Deposit $1,000
Product Types Countless product types across 60 market exchanges
Products Offered CFDs and Forex offered in separate trading entity from other products. Direct trading of cryptocurrencies.

About Swissquote

Swissquote was founded in 1996 and is a publicly-traded, regulated bank. It has licenses from top-tier regulators and has an advanced proprietary platform as well as actual cryptocurrency trading available. It offers a large number of products across 60 market exchanges. It also has a research team that provides its clients with up-to-the-minute market information.

Regulation

Swissquote has four licenses, which include: Securities Futures Commission (CFC), Monetary Authority of Singapore (MAS), Swiss Financial Market Advisory (FINMA), Financial Conduct Authority (FCA), All of these are tier-1 regulators, which makes Swissquote among the safest brokers. With such oversight and regulation, it is clear that Swissquote is legitimate.
Broker Complaint Advisory advises consumers to avoid all unregulated brokers. If a broker is not regulated, they can take your money and you can’t complain to a regulator. The function of regulators is to have authority over their licensees and levy fines or suspend licenses over problematic practices. Regulation serves as a deterrent against scams, but unregulated brokers are off the regulation radar and do not have accountability.
Not only is a license essential, but a top-tier license will provide protection, whereas a license from a third of fourth-tier regulator may not mean very much. Low-quality regulators have very lax requirements for giving licenses, and the brokers they regulate may not be reliable.
Swissquote is entirely the opposite scenario. You can’t ask for more security than a publicly traded bank that has four top-tier licenses. This is not a guarantee that you will not have a complaint or a dispute with this broker, but it is safe to say that Swissquote is most likely not a scam broker.

Accounts, Fees, Commissions, Spreads

The advantage Swissquote has in terms of licensing is offset somewhat by its spreads. The rate of spreads varies widely from region to region and according to account. Its spread rate differences can be confusing, which is not something people want when looking for a broker.
Details about Swissquote’s spread structure can be found on its website, but basically, the UK account spreads for EUR/USD starts at 1.3 pips for standard and 0.6 pips for Premium. Its Swiss entity has a spread of 1.7 pips for EUR/USD on the regular account with a minimum deposit of $1,000 and 1.3 pips for EUR/USD on the premium account with a minimum deposit $10k.
What makes Swissquote’s spread and account information so potentially confusing is that there is a Swiss entity and a UK entity of Swissquote, and each one focuses on different trading instruments and has different requirements, spreads, and fees. An individual customer should investigate the differences between these two entities and decide which is right for them if they want to invest in Swissquote.
In addition, it should be noted that the minimum deposit of $1,000 is high, but is not unheard of among premium trading banks and top-tier brokers. However, if you want to trade with a smaller amount, you can look in our BCR’s other broker reviews for top-tier brokers that have minimums as low as $100. One advantage of Swissquote’s high minimum is the more you trade, the more money you can make, and since Swissquote is one of the safer brokers, investing more may be worthwhile.

Trading Instruments

Swissquote is one of the first trading banks and brokers in the world to offer cryptocurrency trading outside of CFDs. Also, it has an extremely broad selection of products across 60 global exchanges.
However, like its spread structure, figuring out which segments of Swissquote you can trade which financial products can be confusing. Forex and CFDS, for instance, are traded only on Swissquote’s eForex account.

Technology and Platforms

Swissquote offers MetaTrader 4 and 5 as well as its own platform, AdvancedTrader Web and AdvancedTrader Desktop. We found that the AdvancedTrader platforms were lacking in features and needed an upgrade. However, WebTrader 4 and 5 may be sufficient for many traders.

Research and Education

Swissquote’s research and educational resources are particularly impressive. It has a team of research analysts that produce its Daily Market Brief, its weekly Live Analysis Report, a bi-monthly magazine, Trading Central, which is a daily technical report, and a YouTube channel.

Swissquote Pros and Cons

To sum it all, up, the following are Swissquote’s Pros and Cons:
Pros
  • Publicly traded bank with Four tier-1 licenses
  • Direct trading of cryptocurrencies
  • Top of the Line Research and Educational tools
Cons
  • Confusing spreads, fee structures and accounts
  • High spreads
  • The proprietary platform needs an upgrade

Should You Trade with Swissquote?

After our thorough analysis, Broker Complaint Registry has concluded that Swissquote is a safe and reliable broker with advanced research and analysis and direct trading of cryptocurrencies. Although its spreads are high and the differences between its entities and account types can be confusing, you are protected if you decide to trade with Swissquote.
However, even though Swissquote is a secure, regulated broker, that doesn’t mean that you won’t at some point have a complaint or even a dispute. If you have a complaint with Swissquote or any broker, contact Broker Complaint Registry.

Do You Have a Broker Complaint? Broker Complaint Registry Will Help

Contact Broker Complaint Registry experts if you need to make a complaint against a broker. We deal with a variety of issues, including data theft, broker scams, and crypto complaints. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you get a refund.