Swissquote Review

Min. Deposit: $100

 

Swissquote Ltd is an online provider of CFD and forex trading. This trading platform offers MT4 and MT5 as its main trading platform. It also makes use of market research and webinars. Swissquote Ltd is based in London and happens to be a subsidiary of Swissquote bank. It has been regulated and authorized by the Financial Conduct Authority which is headquartered in UK since 2012.

The Swissquote broker offers over 160 CFD and forex instruments on its platforms to more than 360000 clients globally. You may find it interesting to know that Swissquote is also an official partner of the Manchester United Football Club.

Trading platforms

Swissquote makes use of three distinct platforms and we are going to be discussing them below.

·      Advanced Trader

This platform comes with a fully customizable user interface that allows you to trade in synthetic CFDs among other tools. This platform also comes with smart features that are designed for automatic pattern detection which makes it the ideal tool for traders who are new to understanding chart pattern analysis.

With Advanced Trader, traders can access 27 indicators, 17 overlays, 8 different timeframes and complex type of orders including order cancel. This platform also comes with hedging capabilities that are available upon request. You can either make use of the web terminal or the desktop version once you’ve registered.

·      MetaTrader 4

With MetaTrader 4, traders on any level can leverage automated trading capabilities. They can also take advantage of some complimentary plugins on the platform. MetaTrader 4 allows traders to choose from thousands of expert advisors or copy trades from a variety of successful traders.  Mt4 also comes with extensive charting suites that contains 30 built-in indicators, 24 analytical objects, 9 timeframes, and a variety of order types.

·      MetaTrader 5

MetaTrader 5 which happens to be the next generation of the MetaTrader platform offers a great variety of tools for experienced and expert traders. As similar to MT4, traders can enjoy unrestricted automated trading capabilities and can have access to plug-ins. On the plus side, MT5 users can now enjoy 44 analytical objects, 80 built-in indicators, and highly customizable charts with 21 timeframes.

Market

Swissquote offers 160+ CFD and forex trading instruments, which includes over 75 minor, major and emerging currency pairs, over 25 stock indices including CAC 40 and FTSE 100. Plus, a variety of precious metals, commodities and 3 bonds.

On the Swiss investment arm, you’ll find offerings like gold ETFs, stocks, options, cryptocurrencies, futures and funds.

Mobile App

The Swissquote’s Advance Trader platform is available on Apple store and Google Play. It supports 8 international languages. The fun part about this app is that traders can seamlessly transition between mobile and desktop versions. Plus, they have access to real-time streaming quotes, complex order types and sophisticated charting tools.

Payment method

Funding on the platform is somewhat easy as it supports 9 different currencies via credit cards, prepaid debit and wire transfer. Transactions on the platform come with no deposit or withdrawal fees on the broker’s side but brokers require a deposit of 1000 EUR

For deposits via wire transfer, the broker must provide the relevant SWIFT codes and bank details within the support section. Plus, withdrawal must be made via the ePortal. For credit cards, the processing times are instant, while wire transfer takes about 1 – 3 working days.

Demo Account

With Swissquotes, demo account is available on all three platforms. With a demo, account you have access to over 120 financial instruments with no risk of obligation. Traders get to receive up to $100,000 of practice money to practice their trading strategies. The demo account is only available for 30 days.

Regulations

As we stated earlier, Swissquote Ltd is regulated and authorized in the UK by the Financial Conduct Authority. They also have a reference number; 56217 0. Swissquotes also has a negative balance protection and deposit protection of 85000 GDP in case off liquidation. As regards FCA rules, clients’ money is held in segregated accounts at one on more validated banks. Swissquote group holding limited must also account for all new reports relating to cooperate governance and financial audits. Giving that Swissquotes is a reputable institution, traders should be confident that this broker platform is trustworthy and safe.

Account types

With Swissquotes, traders can select from four live accounts – Premium, Prime Elite and Professional. Traders should also note that the minimum deposit with the starter account which is the premium is 1000 in the selected currency.

Asides from minimum deposits, spreads and commissions, the other account features in the Premium, Prime and Elite are exactly the same. The minimum size for transaction for CFD and forex, forwards is 0.01 lots.

Additional features

Swissquotes also comes with a variety of materials that can help beginners and experienced traders navigate the platform more efficiently. On the plus side, new traders can leverage the education materials to understand how the platform works. The platform also makes it a priority to provide its traders with marketing insights and daily reports as these information helps them trade better.

The broker also offers its traders Autochartist and Trading Central plug-ins for free. This gives traders access to automated trading alerts as well as enhanced technical analysis. In a nutshell, the research materials and tools are quite impressive.

Customer Support

Swissquote’s customer support team can be contacted from Monday to Friday, between 08:00 – 18:00 (UK time). You can reach them via the listed mediums below:

  • Email– info@swissquote.co.uk
  • Live chat– the logo at the bottom corner of their website
  • Telephone hotline helpline number– +44 20 7186 2600 (European toll-free numbers listed on website)
  • Headquarters office address– Boston House, 63-64 New Broad Street, London, EC2M 1JJ, United Kingdom

The support service team can provide information on a variety of topics ranging from forgotten passwords to using APIs and platform journals.

Final thoughts

If you’re looking to trade with Swissquotes, this review will help you to make a well-informed decision as it contains information that can come in quite handy. In summary, Swissquote is a legitimate and reputable broker.

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