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Swissquote Review 2024

Written by
Adam N.
Fact checked by
Gyula L.
Updated
2d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
2,008 people chose this broker
Not available in United States; see best alternatives

Why choose Swissquote

Swissquote is a Swiss online broker with a banking license. It offers access to many markets around the world. It charges no inactivity fee, and as a listed Swiss broker with a banking background, it scores high on safety. It is a good choice for beginner investors.

However, Swissquote has high fees. Its selection of multiple trading platforms is a bit overwhelming, and some of its research tools are not free to use.

BrokerChooser gave Swissquote a 4.4/5 rating based on analyzing 600+ criteria and testing via opening a live account.

BrokerChooser score
4.4 4.4 /5
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Pros
  • Access to many markets and products
  • No inactivity fee
  • Rock-solid background
Cons
  • High trading fees
  • Confusing trading platform selection
  • Some research tools are not free

Swissquote at a glance

🗺 Country of regulationSwitzerland, Luxembourg UK, UAE, Hong Kong, Singapore, Malta, Cyprus
💰 US stock feeVolume-tiered commission ranging between $9 and $190
💰 Inactivity fee chargedNo
💰 Withdrawal fee$10
💰 Minimum deposit$0
💵 Available base currenciesEUR, USD, GBP, CHF, JPY, AUD, CAD, NZD, PLN, SEK, DKK, NOK, HUF, TRY, ZAR, SGD, MXN, HKD, THB, ILS, AED, SGD
💵 Conversion fee of deposits in non-base currency0.9% charge for position value under €25,000 or equivalent in other currency
💳 Deposit with bank cardAvailable
🕖 Time to open an account1 day
🎮 Demo account providedYes
🛍️ Products offeredStock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Themes trading, Robo-advisory
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Fees

Score: 1.9/5
Swissquote charges no inactivity fee and you can trade an impressive selection of funds for favorable fees. On the other hand, trading fees are generally high, including stock and ETF fees, and withdrawing money comes with a price tag.
Pros
  • Low fund fees
  • No inactivity fee
Cons
  • High stock and ETF fees
  • High bond fees

We compared Swissquote's fees with two similar brokers we selected, Saxo Bank and Interactive Brokers. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Swissquote alternatives.

High stock and ETF commission

Swissquote US stock fees are much higher than the industry average. US stock fees are calculated as follows: Volume-tiered commission ranging between $9 and $190

Broker
US stock
Swissquote
$20.0
Saxo Bank
$1.6
Interactive Brokers
$1.0
Swissquote stock and ETF commission

Average FX fees

All fees are built into the spread, so there is no separate commission charged. For example, the EUR/USD spread is 1.6.

Broker
EURUSD spread
FX commission per lot
Swissquote
1.6
No commission is charged
Saxo Bank
0.8
No commission is charged
Interactive Brokers
0.2
Trade value less than $1 billion: 0.2 bps * trade value; min. $2
Swissquote forex spreads and commissions

Average options commission

Swissquote US stock index options fees are much higher than the industry average. US stock index options fees are calculated as follows: $1.99 per contract commission with $5 min

Broker
US stock index options
Swissquote
$19.9
Saxo Bank
$20.0
Interactive Brokers
$6.5
Swissquote stock index options commission

We calculated the fees for stock index options.

High custody fee, low withdrawal fee

Broker
Custody fee
Withdrawal fee
Swissquote
$10
Saxo Bank
$0
Interactive Brokers
$0
Swissquote custody, withdrawal and other fees

There is no inactivity fee or account maintenance fee at Swissquote Bank (CH), while there is 0.1875% min. €100 per quarter inactivity fee at Swissquote Europe (LUX).

Depositing money is free via bank transfer, but credit/debit card transfers carry a 2.2-2.5% fee. Both Swissquote Bank (CH) and Swissquote Bank (Europe) charges a withdrawal fee.

Swissquote Bank (CH) charges a high custody fee, which is charged after the securities you hold. The fee is 0.025% of total assets per quarter, with a CHF 15 minimum and CHF 50 maximum. Swissquote Bank (Europe) doesn't charge custody fee

Other commissions and fees

Low mutual fund commission: trading mutual funds involves the following charges - $9 per trade from Prime Partners (BlackRock, Fidelity, HSBC, etc.) and $0 per trade for funds under Swissquote's custody.

Average futures fees: US index futures fees are as follows - $1.99 per contract commission with $5 min (E-Mini only).

High spot crypto fees: at Swissquote, crypto trading costs 1% of trade value.

High bond commission: US treasury bonds come with the following charges - 0.3% of trade value with $75 min.

Average margin rates: the USD annual margin rate is 9.6%.

Broker
Mutual fund
US micro e-mini stock index futures
Swissquote
$9.0
$19.9
Saxo Bank
$0.0
$30.0
Interactive Brokers
$15.0
$2.5
Misc. fees compared with other brokers

Safety

Swissquote scores high in terms of safety for multiple reasons. The broker is regulated by top-tier authorities, it is listed on the Swiss exchange, it discloses its financial statements and has a banking license.
Pros
  • Majority of clients belong to a top-tier financial authority
  • Banking background
  • Listed on stock exchange
Cons
None
Read more

Deposit and withdrawal

Score: 4.3/5
Depositing at Swissquote is quick with credit/debit card and can be done in several base currencies. On the negative side, you can only withdraw money via bank transfer and there is a withdrawal fee charged.
Pros
  • Credit/Debit card available
  • Several account base currencies
Cons
  • Withdrawal fee
Read more

Account opening

Score: 3.8/5
Swissquote offers a fully digital account opening process, although we encountered wait times. There is no minimum deposit for trading accounts, but a high minimum for forex and robo-advisory accounts.
Pros
  • Fully digital
  • No minimum deposit for trading account
Cons
  • Long wait times
  • Forex and robo-advisor accounts have high minimum deposit
Read more

Mobile app

Score: 4.7/5
Swissquote's eTrading has a user-friendly and well-designed mobile trading platform. The search function is simple, although sometimes the results are organized a bit strangely, similarly to the web platform.
Pros
  • User-friendly
  • Good search function
  • Price alerts
Cons
  • No advanced search filters
Read more

Desktop platform

Score: 4.3/5
The Swissquote eTrading platform has so many functions that sometimes the platform is hard to use. Customizability is good and there is a clear overview of trading fees, but it's easy to get lost on the platform.
Pros
  • Clear fee report
  • Two-step (safer) login
  • Good search function
Cons
  • Easy to get lost among functions
Read more

Product selection

Score: 5/5
At Swissquote Bank (CH) and Swissquote Bank Europe (LUX), you can access many markets and trade a lot of different product types. At Swissquote LTD (UK) you can trade forex and CFDs.
Read more
“I recommend Swissquote for investors, because they give access to many markets and products. The broker is not the best for traders looking for low trading fees, because their fees are high. I like that the broker has a banking background and is listed on the stock exchange.”

FAQ

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Author of this review

Adam Nasli

Financial Wizard | Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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