Overview of Swissquote

Swissquote Ltd is a Swissquote subsidiary based in London. On the broker’s award-winning platforms, over 360,000 clients trade over 160 FX and CFD products. Manchester United Football Club is the company’s official partner.

The organization offers a variety of choices that will appeal to people of all levels of experience, such as instructions for creating your own methods and tools for receiving trading signals. This company has a lot of clout right now, with a client base of around 390000 people.

Trading platforms

Swissquote reviews

Advanced Trader, Swissquote’s proprietary platform, allows you to trade synthetic CFDs and other instruments and features a completely customisable interface. The platform’s advanced features are meant to detect patterns automatically, making it a useful tool for traders who are new to chart pattern research. Brokers’ robo-advisory services have received positive feedback from clients.

Advanced order types such as Another Order to Cancel (OCO) and If Done, as well as 27 indicators, 17 overlays, and eight timeframes, are available to traders. On request, we can provide hedging solutions. After you create an account, you can use the platform as a desktop or web terminal.

The MT 4 platform’s automatic electronic trading tools, as well as the free plug-ins, can assist traders of all levels. Clients have the option of selecting from tens of thousands of specialists or replicating the techniques of hundreds of well-known traders.

Spreads and commission

The quantity of a client’s expenses is directly proportionate to the type of asset traded. It’s worth remembering that the spread includes the commission. It happens when trading currency pairs with contacts based on price differential, for example. When using the Prime account, standard spreads on the Forex market start at 0.8 for several pairs. Traders who choose to trade on these two markets typically choose the premium range of shields. When comparing the classic and premium accounts, there can be a 60 percent difference in us-sales. Other assets, particularly ETF trading, have a starting commission of 0.1 percent.

Brokers frequently try to hide their clients’ commission fees; however, this is not the case with Swissquote, which clearly states that, for example, it charges a fee for account maintenance even if the account is not actively traded. Prepare to pay a monthly fee of 100 euros if there has been no activity for more than two years. Although the company does not charge interest on withdrawals from the trading account, the payment service will charge you interest. Please note that the fees stated in this article were current at the time of writing.

Leverage Overview

Forex trading can be leveraged up to 1:30, precious metals and index CFDs up to 1:20, commodities up to 1:10, and bonds up to 1:5.

Mobile application

You can download our mobile app for free. It enables you to access the platform from anyplace on the planet that has access to the global network.

Using the mobile application allows you to enter transactions quickly, which is significant in the market because reaction time is crucial.

Payment options

The required SWIFT codes and bank details for bank transfer deposits are listed in the broker’s assistance area. Withdrawals are only possible through the ePortal system.

Please note that all payments are accepted on behalf of the client. The methods of deposit depend on the client’s registration region. Most of the withdrawals and deposits are made without commissions from the broker. Exceptions are fees which take place at the side of payment systems.

Credit card transactions are processed instantly, whereas bank wire transfers take 1-3 business days.

Demo account

Every client who wishes to test the platform’s features and trading tactics can open a demo account. The funds in the account are fictitious and are automatically credited by the broker in the amount of 10,000 pounds. There was no discernible difference in functionality between the test account and the real account. It only takes a few minutes to register and there are no complications.

Bonuses and Promo Codes

In accordance with regulatory restrictions, Swissquote does not offer any bonus offers or promotions.

The company’s website contains a bonus agreement and withdrawal policy, however it is quiet on what nuances exist in the withdrawal process and how collected bonuses would effect it.

Because the broker is not supervised by a European supervisory authority, the bonus policy may be relaxed. In Europe, for example, trading with bonus funds is prohibited due to the complexities of regulating the withdrawal of bonus monies. A specific trading turnover is usually expected, but it is an added load for a trader, especially if they have no prior trading expertise.

Account Types

Trading accounts come in a variety of shapes and sizes, as well as the fees that are associated with them.

The client has the option of choosing between three account types: standard, professional, or no-rollover accounts. As previously indicated, the organization does not require a minimum deposit; nonetheless, all customers, regardless of account type, are on MT4 with a financial leverage of 1:400.

Customers can also practice trading on a demo account, which means they can do so without risking their money.

Opening an account

To become the client of the company it is enough to open the menu item , fill in some data. We strongly recommend you to study all the agreements on the website before you start trading, even before you register. Only after you are satisfied with the trading conditions with this broker, you may register your trading account.

Support

Standard support is offered through live chat, email or a hotline. There is also available such communication channel as social networks, it is definitely a convenient and fast way to get help. The company strongly recommends that before asking a question to the operator to see if the question is not already in the list of questions and answers.

The company’s strength is also the training of clients. There is a large database of video and text materials available; you can arrange the information by groups and watch the movies for free. You will also be taught how to reduce your risks, which is crucial for autonomous trading. There’s also a comprehensive handbook that will show you how to get started in the financial market.

Swissquote Verdict

Trading FX and CFDs in a regulated environment is possible with Swissquote’s Advanced Trader and MetaTrader platforms.  However, some newbies may be put off by the hefty initial deposit requirements and limited funding possibilities.