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Swissquote Alternatives

May 2019
Our top picks for DEGIRO alternatives
Interactive Brokers
Saxo Bank

The best alternatives to Swissquote are

  1. Saxo Bank - Danish investment bank
  2. DEGIRO - Dutch discount broker

Let's see in a bit more detail how the Swissquote alternatives compare to Swissquote and each other:

Swissquote alternatives comparison
Swissquote Saxo Bank DEGIRO
Overall score 4.5 4.7 4.7
Fees score 2 stars 3 stars 5 stars
Account opening score 5 stars 3 stars 5 stars
Deposit and withdrawal score 4 stars 5 stars 3 stars
Web platform score 3 stars 5 stars 4 stars
Markets and products score 4 stars 4 stars 3 stars
Visit broker Visit broker Visit broker

Why are these brokers considered good alternatives to Swissquote? There are many areas based on which Swissquote can be compared with others. When we say a given online broker is a good alternative to Swissquote we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

Swissquote alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • Swissquote is recommended for beginners and investors
  • Saxo Bank is recommended for investors and traders looking for a great trading platform and solid research
  • DEGIRO is recommended for price-sensitive buy and hold investors and traders looking for only execution

Important factors of finding Swissquote alternatives

So far Brokerchooser has reviewed 41 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether Swissquote or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Swissquote is considered to be a rather expensive broker. This gives you a good chance to cut your costs by choosing a cheaper Swissquote alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Swissquote this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Swissquote, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Swissquote alternative is a must.


Now let's dive into the details of how Swissquote and its alternatives perform in the most important areas!

Swissquote alternatives
Swissquote

4.5 5 stars

Best for funds

Swissquote logo

Swissquote is a Swiss investment bank, established in 1996. It has two main arms: 

The Swiss arm for stocks, funds, options, and futures

The UK arm for CFDs, and FX

Formally, Swissquote Bank Ltd is based in Switzerland and regulated by FINMA, the Swiss financial regulator. This one offers stocks, funds, bonds, futures and options. The other, Swissquote Ltd is UK based, regulated by the FCA, the UK financial regulator, and offers CFDs and FX.

Swissquote is considered safe because Swissquote Bank Ltd has a banking license, it is listed on the Swiss stock exchange, and discloses detailed financials regularly.  

For clarity, we will call the Switzerland Swissquote for stocks "Swissquote (CH)", and the UK Swissquote for CFDs and FX "SwissquoteForex (UK)".

Recommended for beginners and investors

Pros
  • Extensive market and product access
  • High investor protection amount
  • Digital account opening
Cons
  • High trading fees
  • Overcomplicated trading platform
  • Better part of the research not free

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Fees 2 stars

Swissquote has high trading fees and average non-trading fees. As a plus, there is no inactivity fee.
Pros
  • No inactivity fee
Cons
  • High trading fees
  • Withdrawal fee
Swissquote alternatives trading fees
Swissquote Saxo Bank DEGIRO
Apple benchmark fee $30.2 $20.0 $1.4
Vodafone benchmark fee $73.0 $15.0 $5.2
EURUSD benchmark fee $18.9 $58.4 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 5 stars

Swissquote offers a fast, easy, and fully digital account opening. Also, there is no minimum account balance requirement.
Pros
  • Fast account opening
  • Fully digital account opening
  • No minimum account balance
Cons
  • Video identification of documents may not be available for some locations
Swissquote alternatives minimum deposit and account open times
Swissquote Saxo Bank DEGIRO
Minimum deposit $0 $725 $0
Time to open account 1 day 1-3 days 1 day

Learn more about Swissquote minimum deposit here.

More Visit broker

Deposit and withdrawal 4 stars

The depsoit is fast and user-friendly. On the flip side, you can only withdraw by bank transfer.
Pros
  • No deposit fee
  • Several account base currencies
  • Credit/Debit card deposit
Cons
  • Credit card withdrawal is not available
  • Withdrawal is not user-friendly
Swissquote and alternatives withdrawal options and fees
Swissquote Saxo Bank DEGIRO
Bank Transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Withdrawal fee $10 $0 $0

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Web trading platform 3 stars

The Swissquote (CH) platform has a lot of functions, even too many. It can get complicated. SwissquoteForex (UK)' MetaTrader 4 is a well thought out platform.
Pros
  • Two-step (safe) login
  • Price alerts
  • Available in several languages
Cons
  • Poor search function
  • Limited order types
Swissquote - Web trading platform
Swissquote and alternatives trading platform scores
Swissquote Saxo Bank DEGIRO
Web platform score 3 stars 5 stars 4 stars
Mobile platform score 3 stars 5 stars 4 stars
Desktop platform score - 5 stars -

Learn more about Swissquote's web trading platform in the detailed Swissquote review.

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Markets and products 4 stars

At Swissquote(CH) you can reach many markets and trade with a lot of different product types. At SwissquoteForex (UK) you can trade only Forex and some CFDs.
Swissquote and alternatives markets and products
Swissquote Saxo Bank DEGIRO
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex Yes Yes No
Fund Yes No Yes
Bond Yes Yes Yes
Options Yes Yes Yes
Futures Yes Yes Yes
CFD Yes Yes Yes
Crypto Yes Yes Yes

More Visit broker

Verdict

Swissquote has a rock solid background. It is Swiss, it is listed, it is a bank. It has two entities, one in the UK and one in Switzerland. If you open an account at the London-based entity, you can trade with forex and CFDs, while the Swiss entity gives you access to a wide range of asset classes from stocks to options.

Swissquote has an easy and fast account opening. We really liked its market and product coverage. There are lot of stocks, mutual funds, and a lot of different type of products from bonds to cryptos.

However, nothing comes for free. The trading fees are relatively high. 

All in all, Swissquote is a great provider. As there is no minimum deposit requirements and no inactivity fee, feel free to try it out.

Swissquote
Summary Swissquote is Swiss online broker with its own banking background. It is listed on the Swiss exchange and regulated several authorities globally, including the top-tier FCA.
Fees score 2 stars
Recommended for Beginners and investors

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Swissquote alternatives
Saxo Bank

4.7 5 stars

Best trading platform

Saxo Bank logo

Saxo Bank is a Danish investment bank providing online trading and investments. It is a leading European retail brokerage innovator. Saxo is privately owned, established in 1992, and headquartered in Copenhagen.

Saxo is considered safe as it is regulated worldwide by more than 10 financial regulators, including top-tier regulators, like the UK FCA.

Recommended for investors and traders looking for a great trading platform and solid research

Pros
  • Outstanding research
  • Great trading platform
  • Broad product portfolio
Cons
  • High forex, bond, options, and futures fees
  • Slow account opening
  • Missing live chat

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Fees 3 stars

Saxo Bank has average trading and non-trading fees.
Pros
  • No withdrawal fee
  • Transparent fee structure
  • Lower fees for Platinum and VIP clients
Cons
  • Inactivity fee
  • High financing rate
  • High forex, bond, options and futures fees
Swissquote vs. Saxo Bank: Trading fees
Saxo Bank Swissquote
Apple benchmark fee $20.0 $30.2
Vodafone benchmark fee $15.0 $73.0
EURUSD benchmark fee $58.4 $18.9

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 3 stars

Account opening is available for residents of almost every country and is fully digital.
Pros
  • Fast account opening
  • Fully digital account opening
  • Available for residents of almost every country
Cons
  • Minimum account balance is higher than $500
  • Sales team pushy
  • Classic accounts available only in a single currency
Swissquote vs. Saxo Bank: Minimum deposit, time to open an account
Saxo Bank Swissquote
Minimum deposit $725 $0
Time to open account 1-3 days 1 day

If you are interested more in Saxo Bank minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 5 stars

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
Cons
  • Credit/Debit card withdrawal not available
Swissquote vs. Saxo Bank: Withdrawal options
Saxo Bank Swissquote
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $10

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Web trading platform 5 stars

Saxo Bank's web trading platform is easy-to-use and well-designed. However, it doesn't provide a two-step login and the customizability is limited.
Pros
  • User-friendly
  • Good search function
  • Looks nice
Cons
  • No two-step (safe) login
  • Limited customizability (for charts, workspace)
Web trading platform of Saxo Bank, a Swissquote alternative
Swissquote vs. Saxo Bank: Trading platform scores
Saxo Bank Swissquote
Web platform score 5 stars 3 stars
Mobile platform score 5 stars 3 stars
Desktop platform score 5 stars -

Learn more about Saxo Bank's web trading platform in the detailed Saxo Bank review.

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Markets and products 4 stars

At Saxo Bank you can reach many markets and trade with a lot of different products, except for funds.
Swissquote vs. Saxo Bank: Markets and products
Saxo Bank Swissquote
Stock Yes Yes
ETF Yes Yes
Forex Yes Yes
Fund No Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD Yes Yes
Crypto Yes Yes

More Visit broker

Verdict

Saxo Bank is a great broker, providing a complex and good service.

It has the best trading platforms backed by great research. The product portfolio is covering all important international markets and asset classes.

It has some drawbacks though. The fees for forex, bond, options, and futures are high. The account opening can take long and the live chat is missing.

In general, Saxo Bank is one of the best online brokerage companies you can choose. By opening an account, you end up with a broad, well-developed service.

Saxo Bank
Summary Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier FCA.
Fees score 3 stars
Recommended for Investors and traders looking for a great trading platform and solid research

More Visit broker

Swissquote alternatives
DEGIRO

4.7 5 stars

Best discount broker

DEGIRO logo

DEGIRO is a trending Dutch online discount broker. It is privately owned and was established in 2013 by former employees of another brokerage company.

DEGIRO is considered safe as it is regulated by top-tier financial regulators, the Dutch AFM and DNB. It is registered with the Chamber of Commerce and Industry in Amsterdam under number 34342820.

Recommended for price-sensitive buy and hold investors and traders looking for only execution

Pros
  • One of the lowest fees in the market
  • Broad access to international markets
  • Easy to use web and mobile platform
Cons
  • Limited research and education
  • No forex trading
  • No credit/debit card deposit and withdrawal

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Fees 5 stars

DEGIRO has low trading and non-trading fees. In most asset classes, it is the best in the market. There are some ETFs which you can trade free once per month. It's a great offer for buy-and-hold investors.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
  • At some ETFs, one free trade per month
Cons
  • Yearly service fee for mutual funds
  • Higher trading fees for Asian and smaller European stock exchanges
Swissquote vs. DEGIRO: Trading fees
DEGIRO Swissquote
Apple benchmark fee $1.4 $30.2
Vodafone benchmark fee $5.2 $73.0
EURUSD benchmark fee - $18.9

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 5 stars

DEGIRO has an easy and fast account opening process. Also, there is no minimum deposit.
Pros
  • Fully digital account opening
  • No minimum account balance
  • User-friendly
Cons
None
Swissquote vs. DEGIRO: Minimum deposit, time to open an account
DEGIRO Swissquote
Minimum deposit $0 $0
Time to open account 1 day 1 day

If you are interested more in DEGIRO minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 3 stars

DEGIRO deposit and withdrawal is free of charge via bank transfer. On the other hand, you cannot deposit with credit or debit card.
Pros
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
Cons
  • Credit/Debit card deposit and withdrawal not available
Swissquote vs. DEGIRO: Withdrawal options
DEGIRO Swissquote
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $10

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Web trading platform 4 stars

DEGIRO’s web platform is simple and easy to use. Even beginners can easily navigate it and buy stocks. On the negative side, it is a bit complicated to customize.
Pros
  • User-friendly
  • Two-step (safe) login
  • Looks nice
Cons
  • Limited customizability (for charts, workspace)
  • No price alerts
Web trading platform of DEGIRO, a Swissquote alternative
Swissquote vs. DEGIRO: Trading platform scores
DEGIRO Swissquote
Web platform score 4 stars 3 stars
Mobile platform score 4 stars 3 stars
Desktop platform score - -

Learn more about DEGIRO's web trading platform in the detailed DEGIRO review.

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Markets and products 3 stars

At DEGIRO you can access many markets and trade with a lot of different products, except for forex.
Swissquote vs. DEGIRO: Markets and products
DEGIRO Swissquote
Stock Yes Yes
ETF Yes Yes
Forex No Yes
Fund Yes Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD Yes Yes
Crypto Yes Yes

More Visit broker

Verdict

DEGIRO is a good choice if you want a simple platform and don’t want to spend a fortune on fees.

It is far cheaper than its big European competitors and only Interactive Brokers can compete with DEGIRO fees. DEGIRO also has great access to international markets and trading products. And it is als one of the best trading platforms for Europeans.

However, cheapness comes with some shortfalls. Education and research tools are limited, there is no forex trading and limited deposit and withdrawal options.

All in all, it is a great online broker. As there is no minimum deposit and no inactivity fee, feel free to try it out.

DEGIRO
Summary DEGIRO is a Dutch discount broker established in 2008. It is regulated by the Dutch FMA.
Fees score 5 stars
Recommended for Price-sensitive buy and hold investors and traders looking for only execution

More Visit broker

Swissquote alternatives
Bottom line

Based on our analysis, there are several good alternatives to Swissquote. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Swissquote alternatives
Broker Info Recommended for
Swissquote Swiss investment bank Beginners and investors
Saxo Bank Danish investment bank Investors and traders looking for a great trading platform and solid research
DEGIRO Dutch discount broker Price-sensitive buy and hold investors and traders looking for only execution

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
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