BROKER REVIEW

Swissquote Review 2018

3.7 20 April, 2018
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Swissquote logo

Swissquote, as the name suggests, is a Swiss broker, and offers 100,000 CHF of investor protection per account, as they abide by Swiss financial regulation. Swissquote holds a full Swiss banking license, and it is listed on the SIX Swiss Exchange. 

As a plus

Swissquote offers a solid foundation for investor protection, as it has a banking license, and it is listed on the stock exchange. The account opening is fully digital with no minimum funding requirement, and the product portfolio is extensive.

On the flip side

Swissquote has high trading fees. The quality of the live chat customer support needs improvement, they have trouble answering more complex questions. Furthermore, trading forex requires a separate account.

Recommended for beginners and investors.

Swissquote review
Investor protection and regulation

Swissquote has a full Swiss banking license. It is listed on the SIX Swiss Exchange. As per FINMA regulation, it offers 100,000 CHF of investor protection per account. However, they do not offer a negative balance protection policy, despite their built in stop-out systems.

.swissquote-review-Investor-protection

Swissquote review
Account opening

Swissquote offers a fast, easy, and fully digital account opening process. There is no minimum account balance requirement.

swissquote open account screenshot

Swissquote review
Funding and withdrawal

Swissquote offers bank and Credit/Debit card funding and withdrawal. The process is fast, and user friendly.

swssquote funding and withdrawal page screenshot

Swissquote review
Product portfolio

Swissquote offers an extensive product range, better than most brokers. It has a good international coverage within each asset class. It recently added Cryptos, however, it lacks a selection of CFDs.

swissquote products overview screenshot

Swissquote review
Fee structure

Swissquote has high trading fees, and the financing rate is mid-range at best. Swissquote charges no fee if your account is inactive.

swissquote pricing overview screenshot

Swissquote review
Web trading platform

Swissquote combines user friendlyness with a minimalistic design for its web trading platform. It has a good variety of order types, and an intuitive search function. However, customizability of your personal workspace and charts are limited, and also lacking a clear fee report.

swiss quote trading platform screenshot

Swissquote review
Mobile trading platform

The Swissquote mobile trading platform is very user friendly and it is easy to navigate. It also offers a safe login with Touch id and a great search function. However, it is missing price push alerts and push order confirmation, which is something most competitors have.

swissquote-review-mobile

Swissquote review
Desktop trading platform

Swissquote does not offer a dedicated desktop trading platform.

Swissquote review
Research

Swissquote does a good job with stock recommendations. We also liked the Themes Trading, that offers portfolios for current investment trends like green energy. However, fundamental data is not available. It is also impossible to set a default language for the news flow, which is a mix of French, German, and English articles.

swissquote-review-research

Swissquote review
Customer service

Swissquote has phone, e-mail, and live chat support. However, the live chat can not answer complex questions. For example, how pricing is structured for forex transactions.

swissquote-review-customer-support

Swissquote logo

Swissquote, as the name suggests, is a Swiss broker, and offers 100,000 CHF of investor protection per account, as they abide by Swiss financial regulation. Swissquote holds a full Swiss banking license, and it is listed on the SIX Swiss Exchange. 

As a plus

Swissquote offers a solid foundation for investor protection, as it has a banking license, and it is listed on the stock exchange. The account opening is fully digital with no minimum funding requirement, and the product portfolio is extensive.

On the flip side

Swissquote has high trading fees. The quality of the live chat customer support needs improvement, they have trouble answering more complex questions. Furthermore, trading forex requires a separate account.

Recommended for beginners and investors.

Overall

Pros
  • 100,000 CHF account protection
  • Easy account opening
  • Extensive product portfolio
Cons
  • Costly trading fees
  • Low quality live chat support
  • FX can only be traded on a separate platform

Investor protection and regulation

Pros
  • High amount of account protection of 100,000 CHF
  • Listed on stock exchange
Cons
  • Negative balance protection not available

Account opening

Pros
  • Fast account opening -within 3 days-
  • Account opening fully digital
  • No minimum account balance
Cons
  • Video identification of documents may not be available from some locations

Funding and withdrawal

Pros
  • Bank transfer is available
  • Credit/Debit card funding and withdrawal available
  • Speedy funding and withdrawal -within 3 days-
Cons
  • None

Product portfolio

  • Equities
  • ETFs
  • Forex
  • Funds
  • Bonds
  • Options
  • Futures
  • Cryptos

Fee structure

Pros
  • No inactivity fee
Cons
  • High trading fees
  • High minimum fees

Web trading platform

Pros
  • User-friendly
  • Good search function
Cons
  • Limited customizability (for chart, for workspace)
  • No clear fee report available

Mobile trading platform

Pros
  • User-friendly
  • Good search function
Cons
  • No price alerts available
  • No order confirmation available

Research

Pros
  • Analyst recommendations for stocks
Cons
  • No fundamental data available
  • No default language setting for news flow

Customer service

Pros
  • Phone support available
  • Live chat available
  • Fast support
Cons
  • Irrelevant and inconsistent answers, and an unprofessional tone on live chat
Gergely Korpos
Author
Gergely Korpos
Co-founder, CPO
Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager

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