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Swissquote review

On-line since: 2000
Country of origin: Switzerland
Regulation: FINMA
Payment options: Bank wire and PayPal
Minimum account size: $2000
Minimum lot size: 0.1 lot
Leverage: 1:100
Spreads: from 1.4 pips

About the company:

Swissquote Bank is a leading provider of online financial and trading services established in 1996 and headquartered in Switzerland. Swissquote Group currently employs over 500 team members. It has regional offices in Dubai, London, Hong Kong, and Malta and serves customers from more than 120 countries. Swissquote Group Holding Ltd. (SQN) is listed on the SIX Swiss Exchange.

The company’s advantages include the use of Swiss DOTS, an innovative service for derivative trading. In addition to Advanced Trader, the broker’s proprietary trading software, Swissquote also offers its customers the popular trading platforms MetaTrader 4 and MetaTrader 5 that are fully integrated into excellent liquidity combined with low trading costs and precise order execution.

Swissquote is ranked among the world’s ten best forex brokers, enabling more than 200 thousand private investors and corporate clients to trade a broad range of currencies (over 70 currency pairs), commodities, and indices.

The company’s customers have online access to market data, news, and trading signals. Swissquote also provides a variety of learning resources for forex novices.

Swissquote 4/10 (votes 1760)
Author of Swissquote: AnthonyRizal | Date 2019-04-08
I've looser with Swissquote broker due to the high spread at news realise time and disgusting eTrading platform. While their isn't fixed, but it could be raised hight position I have seen. Yesterday I've open order on EUR/USD, when the spread is 1.4 pip but today is 2.8 pips, which amplified by the Brexit news. Beside the eTrading platform didn't execute or work on time, as sometimes I can't close my position, while I've set SL. In total, my loss is $96. Now I,ve avoid Swissquote broker.
Author of Swissquote: Mperd | Date 2019-01-09
I am using their account for 2 months with $2000 deposit. I trades for one month and made a profit of $360. After that, When I place withdrawal request for $300 via Bank wire they ask me for verification and after submitting all the document it almost 25 days over but still they did not processed my withdraw request. I check their website they mention withdrawal takes only 3 business day. I think I may not go so far with this broker.
Author of Swissquote: Menlez | Date 2018-10-29
I opened an account at Swissquoute in May 2017 from their UK entity. I'd say this broker is accessible to all as it offers services to many countries and it doesn't have a minimum deposit amount. The platform is pretty stable as well and has tools like chart analysis that can help traders. However, they don't have spreads. Instead, they charge commissions. I also have an account with another broker that charges trading fees through spreads and I opened an account at Swissquote to compare the trading costs. Because Swissquote charges high commission which varies between instruments, it is more costly to trade at this broker. If I don't have a comparison, I might not mind it but because I do, and I've seen the cost difference, I'm thinking of closing my account here soon.
Author of Swissquote: Burak_Aksoy | Date 2018-08-20
Day After day I’ve lost with Swissquote broker due to their unprofessional service. I have been trading in a standard account, where I have almost $300 invested. Basically, their spread is high spread and isn't fixed. so the spreads depending on numerous factors and they have taken high spreads from me in the news trading. As In EUR/USD pair the spread is 1.4 pip but I have found it 2.8 pips almost all the times. Also the eTrading platform didn't execute in the right position and generated my SL, so when my trade closed it going to lose. Till now I had lost almost $167, So I have avoided trade with Swissquote broker.
Author of Swissquote: Virginiafx | Date 2018-06-14
I started a trading account with SwissQuote and deposited 2000$ with PayPal. I waited for a week to get the money in my trading account, and I was filling a complain and I wanted to close my account when I finally saw the money. I started to trade with the left foot. Well, the platform works fast in execution when is calm market. When there is volatility it has delays or crashes. I will close my account because for the past two months of trading currency pairs EUR/USD, USD/CAD, USD/JPY I lost 600$. The lost could be higher but I managed to make some good tradings with this crazy crashes. I called their support team regarding some closed positions which was obvious from their servers shutdown, and I lost 87$. I don't recommend the broker.
Author of Swissquote: Bogdanpip | Date 2018-04-11
This broker doesn't provide good quality services. The minimum account requested is 2000$ and the broker is not as good as they are on paper. I had problems many times with spread and delays on MetaTrader 4. The support team is not always polite. The currency traded by me are USD/CAD, USD/NZD and metals. I lost the first month of trading around 400$, now I try to managed and make that money back. The execution on the platform is not good, and my stop loss limit is changing when I check my account. I don;t recommend this broker.
Author of Swissquote: Sofiafx | Date 2017-10-31
I traded with Swissquote with a standard account, and initial deposit of 2000$. The platforms does't work fast in execution and sometimes I have delays with MEtaTrader 4. The broker is not manipulating the prices during volatility times, but I can't trade in normal conditions because the prices at the closing point are different from the real time prices due to delays. I traded with them currency pairs EUR/USD, USD/CAD, USD/JPY, USD/CHF, and Gold. The problems are usually in the first couple of hours when the London Market opens. I don't recommend the broker because I waited 2 weeks to could withdraw my funds ( ~900$ ) after 2 months of trading with them and without success.
Author of Swissquote: Karrie | Date 2017-10-04
swissquote broker is not a recommended broker for newbie and average trader because this broker set the minimum amount of capital for 2000 USD. To me this amount is not acceptable because not all trader have such money to start trade. Besides, even though they set such amount for initial deposit, they should make their leverage bigger like 1:1000 not 1:100. Their method of payment also no variable which only provide 2 method of payment which bank wire and PayPal. I have try their demo account to see their platform whether good or not but it seems like platform are not friendly user, quite hard to find settings for indicators and for other tools. Execution also not too smooth which sometimes it will take 2-4 second to take all the orders. Spread for major pairs is quite good which start from 1.4 but it can widen up to 3 pips which it will give a trouble in further when pending orders and Take profit are not triggered because of the spread.
Author of Swissquote: Jan | Date 2017-09-12
I request for a withdrawal and its been 2 weeks now I haven't received any reply from Swissquote. They are the worst service ever. They ignore all my calls. Each of my complaints to their customer support, always no response. I disagree with the words that Swissquote is a great broker. I am planning to change my broker and I don't want to risk another money of mine to them. I will not recommend Swissquote to anyone.
Author of Swissquote: Richard | Date 2017-08-14
I opened an Standard account and I can say leverage is flexible up to 1:500, spreads can get higher, especially for some majors like USD/CHF – GBP/USD- AUD/USD it can reach almost 3 pips, so chances of getting profits are slim. Also, I think their platform Advanced Trade is not that good for beginners, it crashes many times and is not so easy to deal with.
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