Swissquote

Swissquote broker, previously known as AC Markets is the affiliate of a banking group that specializes on online trade services. The Net is full of Swissquote reviews, and the number of institutional and individual users has exceeded 200,000. Starting from 2000, the headquarters shares are present on the Swiss market SIX. Since the company is a member of a bank group, a lot of online traders trust it.

Trading options

The company provides its own platform called Advanced Trader: it’s equally convenient on both PC and mobile device, and there’s also a web-application to work on the go. Swissquote official website features intuitive navigation and a well-developed interface.

There’s a myriad of features provided, including Stop-loss orders, notifications, VPS services, hedging, limit orders, API trading, automatic selling/buying, and signals. The project would be equally useful for beginners and professional traders: there’s an extensive knowledge base for those who want to learn the basics of Forex.

Aside from Advanced Trader platform, clients are free to exploit two other platforms from Metaquote Software Ltd, which are Meta Trader 4 and 5. MT5 is a more advanced version of MT4: it features more functions and opportunities. Wide choice of platforms is what the customers value in Metaquote.

To start with, a trader should register and account and make a minimal deposit of $1000. At the moment, there are three types of accounts available:

  • Standard (deposit from $1000 to $25,000);
  • Premium (deposit from $ 25,000 to $100,000);
  • Prime (deposit over $100,000).

Payments & commissions

There are a few negative reviews about Swissquote that mention it has a very high spread (evidently, this is the way to compensate the absence of commissions). The company offers variable spreads, but the rate mostly depends on the currencies traded. For instance, EUR/USD pair is charged by 1.8 pips for Standard account, 1.6. pips for Premium account, and 1.3 pips for Prime account. Even some rare currency pairs are charged with minimal 0.6 pips spread.

Deposit can be made with a wire transfer, credit/debit cards, China UnionPay and PayPal. Withdrawal is made on the bank accounts only.

Swissquote is equally convenient for English-speaking and other users. The official website is present on such languages as English, German, Russian, French, arabic, Chinese and Italian. Teh assistants can be contacted via email, live chat, or by phone. Besides, users can order the call-back to save on conversations.

Although the company also names itself Swissquote Bank, it doesn’t have anything in common with Swiss banks: it is based in London and is regulated by FCA. Minimal credit leveraging is 1:400, and investors have £50,000, or CHF 100,000 protection per account.

Is this project a fraud? The vast majority of real reviews about Swissquote mention that it’s a fair company that never deceives people. Anyway, the final decision should be taken with more customer reviews in mind.

3 Comments

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Richard

25/05/2020 Reply

The broker was on top, but the servers don't work now all the time, the customers money are not withdrawn. Also got in the same situation myself. So they went from good broker to a simple crookers and that’s a sad story.

Griffin

16/11/2019 Reply

I do not recommend participating in competitions, otherwise they can be accused of fraud and pick up the victory. I recently participated in the "Million Option" competition and took the prize, the weekend went on Monday. 3 out of 5 accounts were left out. Explicit SCAM.

MarshTR

27/12/2018 Reply

I don’t have a huge trading experience, but I had to learn through a series of painful incidents. I like it here, as they offer a user-friendly interface, little slippage, fast execution and many opportunities and tools for all trader types.

Min. deposit

1000$

Regulators

FINMA

Platforms

MetaTrader 4, Advanced Trader

Year of foundation

1996

Country

Switzerland