Swissquote Alternatives

May 2019
Our top picks for Swissquote alternatives
Saxo Bank DEGIRO

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
SwissquoteSaxo BankDEGIRO
Overall score4.54.74.6
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 29 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

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)".

Best for funds

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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Swissquote
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
SwissquoteSaxo BankDEGIRO
Apple benchmark fee$30.2$20.0$1.4
Vodafone benchmark fee$73.0$15.0$11.1
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

Swissquote
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
SwissquoteSaxo BankDEGIRO
Minimum deposit$0$725$0
Time to open account1 day1-3 days1 day

Learn more about the Swissquote minimum deposit here.

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Swissquote
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
SwissquoteSaxo BankDEGIRO
Bank TransferYesYesYes
Credit/Debit cardNoNoNo
Electronic walletsNoNoNo
Withdrawal fee$10$0$0

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Swissquote
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
SwissquoteSaxo BankDEGIRO
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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Swissquote
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
SwissquoteSaxo BankDEGIRO
StockYesYesYes
ETFYesYesYes
ForexYesYesNo
FundYesNoYes
BondYesYesYes
OptionsYesYesYes
FuturesYesYesYes
CFDYesYesYes
CryptoYesYesYes

More Visit broker

#1 Swissquote alternative - Saxo Bank
Saxo Bank

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.

Best trading platform

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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Saxo Bank
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 BankSwissquote
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

Saxo Bank
Account opening 3 stars

Account opening is available for almost all residents and is fully digital.
Pros
  • Fast account opening
  • Fully digital account opening
  • Available for almost all residents
Cons
  • Minimum account balance is higher than $500
  • Sales team pushy
  • Only single currency account available at classic accounts
Swissquote vs. Saxo Bank: Minimum deposit, time to open an account
Saxo BankSwissquote
Minimum deposit$725$0
Time to open account1-3 days1 day

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

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Saxo Bank
Deposit and withdrawal 5 stars

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

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Saxo Bank
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 BankSwissquote
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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Saxo Bank
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 BankSwissquote
StockYesYes
ETFYesYes
ForexYesYes
FundNoYes
BondYesYes
OptionsYesYes
FuturesYesYes
CFDYesYes
CryptoYesYes

More Visit broker

#2 Swissquote alternative - DEGIRO
DEGIRO

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.

Best discount broker

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 no education
  • No forex trading
  • No credit/debit card deposit and withdrawal

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DEGIRO
Fees 5 stars

DEGIRO has low trading and non-trading fees. In most asset classes, it is the best in the market. There is one free ETF trading per month, a great offer for buy-and-hold investors.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
  • One free ETF 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
DEGIROSwissquote
Apple benchmark fee$1.4$30.2
Vodafone benchmark fee$11.1$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

DEGIRO
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
DEGIROSwissquote
Minimum deposit$0$0
Time to open account1 day1 day

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

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DEGIRO
Deposit and withdrawal 3 stars

DEGIRO deposit and withdrawal is free of charge via bank transfer and SOFORT. 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
DEGIROSwissquote
Bank TransferYesYes
Credit/Debit cardNoNo
Electronic walletsNoNo
Withdrawal fee$0$10

More Visit broker

DEGIRO
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
DEGIROSwissquote
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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DEGIRO
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
DEGIROSwissquote
StockYesYes
ETFYesYes
ForexNoYes
FundYesYes
BondYesYes
OptionsYesYes
FuturesYesYes
CFDYesYes
CryptoYesYes

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
BrokerInfoRecommended for
SwissquoteSwiss investment bankBeginners and investors
Saxo BankDanish investment bankInvestors and traders looking for a great trading platform and solid research
DEGIRODutch discount brokerPrice-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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