Swissquote review

Introduction of the broker Swissquote

Swissquote is a broker with a long-standing history, operating in the market since 2000. The company is based in England and operated by Swissquote Ltd, regulated by the FCA, and Swissquote Capital Markets Ltd regulated by CySEC. This type of broker operates on a Market Maker (MM) basis, creating its own market for its clients. This means that trades are executed internally, and the broker itself acts as the counterparty to its clients' trades. This model allows the broker to offer stable liquidity and instant trade execution. Although there may be a conflict of interest, reputable MM brokers like Swissquote are strictly regulated to ensure transparency and fairness in trading.

Swissquote Group Holding Ltd (SQN) has been listed on the SIX Swiss Exchange since May 2000. With over 500,000 clients worldwide, a wide range of products, and asset management worth CHF 52.2 billion, Swissquote demonstrates its strong market position and ability to provide quality services.

Trading Platforms and Service Offering

Swissquote offers a wide range of trading platforms, including MT4, MT5, a mobile app, and WebTrader. These platforms are well-known for their robustness and advanced trading tools. The minimum deposit for a basic account is $1000.

One of Swissquote's advantages is the support for hedging, scalping, and automated trading systems (AOS) to implement various trading strategies. The broker offers access to approximately 150 assets, including forex, stock indices, commodities, and bonds. A demo account is also available, but only for 30 days. Spreads at Swissquote start from 3 pips.

Account Types

Swissquote offers three main financial service packages, tailored to the needs and capabilities of clients: Premium, Prime, and Elite.

• Premium package. Allows Forex trading with spreads starting from 1.3 pips and no commissions. For stock trading, fees are USD 0.03 per share for US markets and 0.15% for Swiss, EU, and UK markets, with a minimum fee of USD 15. The minimum deposit for this package is 1,000 EUR, USD, or CHF.
• Prime package is the most popular choice among Swissquote clients. It offers tighter Forex spreads starting from 0.6 pips and still no commissions. Stock trading is more favorable here, with a fee of USD 0.02 per share for US markets and 0.12% for Swiss, EU, and UK markets, with a minimum fee of USD 12. A minimum deposit of 5,000 EUR, USD, or CHF is required for this package.
• Elite package is designed for advanced traders. It offers Forex spreads starting from 0.0 pips, but with a fee of 2.5 EUR per side per traded lot. For stocks, the fee is USD 0.01 per share for US markets and 0.09% for Swiss, EU, and UK markets, with a minimum fee of USD 9. The minimum deposit for this package is 10,000 EUR, USD, or CHF.

Cryptocurrencies at Swissquote

Swissquote offers a comprehensive cryptocurrency service package that easily integrates into a portfolio. Swissquote provides extensive liquidity through its partnerships with exchange partners. This allows traders to benefit from increased liquidity and better buy/sell prices. Another advantage is trading in a secure environment of a Swiss financial group.

Swissquote offers a wide range of cryptocurrencies, currently 39 different ones, not just Bitcoin. In addition to direct buying and selling of cryptocurrencies, it is possible to trade securities on the exchange that track cryptocurrency prices. Options and futures on BTC and ETH are also available, providing more ways to increase exposure to cryptocurrencies.

Swissquote Smart Portfolios

Swissquote Smart Portfolios are ideal for long-term investors looking for a simple, cost-effective solution. They offer transparent fees starting at 0.92% per year, diversification through low-cost ETFs and index funds, and automatic portfolio rebalancing with a minimum investment of 5,000 EUR/USD/GBP. Clients can add funds as needed without a minimum transfer limit, and automatic investing is available once the balance reaches 100 EUR/USD/GBP. There is no minimum holding period, and funds can be withdrawn at any time.

The portfolio is managed by one of the world's largest asset managers, BlackRock. Swissquote offers various investment strategies (Defensive, Moderate, Growth, Sustainable Multi-Asset). The main disadvantage may be the high minimum investment.

User ratings and reviews of broker Swissquote

Swissquote has a rating of 3.4 out of 5 stars on TrustPilot, reflecting mixed user reviews. Some praise the wide selection of financial products and markets, as well as robust security measures, while others criticize the high fees and occasional platform issues. On Google Play, the Swissquote app has positive ratings for its functionality and user-friendliness, although some users mention the high trading costs. Similarly, on the Apple App Store, the app is rated positively, but users often mention the need for improved customer support and lower fees.

Is Swissquote a scam or a safe broker?

Swissquote is generally considered a safe and trustworthy broker. Swissquote is regulated by several major financial authorities, including the Swiss Financial Market Supervisory Authority (FINMA) and the UK Financial Conduct Authority (FCA). With its long history, strong regulation, and good market reputation, Swissquote is considered a safe broker.