Thinking about investing in cryptocurrencies and building a diverse portfolio, maybe beyond just Bitcoin? Wondering whether you can trade actual crypto on the spot market at Swissquote? We've got you covered: our team of brokerage experts did the research for you and here's what they found.
The good news is that you can trade spot crypto at Swissquote. However, its fees are high, meaning there are other, better broker options out there for you.
I've been trading crypto for several years now, making hundreds of trades. I tested crypto trading conditions at Swissquote using real money, and here are my main findings:
- Want to trade real crypto? Swissquote has what you're looking for.
- However, spot crypto trading at Swissquote comes with relatively high trading fees.
- Swissquote is a trusted, more reliable option for crypto trading than crypto exchanges.
- Check our list of the best crypto brokers for some top-notch alternatives.
Build your crypto portfolio at Swissquote
Looking to get into crypto, or expand your existing crypto portfolio? Swissquote has you covered with a selection of real cryptos to trade. Whether it's Bitcoin or some other cryptos from the ever-expanding range of available choices, you will have several options, with all the coins available for trading on the spot market.
Cryptocurrency
Swissquote offers 52 cryptocurrencies for spot trading. All the major coins, like Bitcoin, Ethereum, Ripple and Litecoin are available.
Note that the FCA banned the sale of crypto-derivatives to UK retail consumers as of January 2021.
See the table below to check more details, like whether other forms of crypto (such as CFDs) are available, and how Swissquote compares with some similar brokers in this area.
| Broker | Spot crypto | Crypto CFD |
|---|---|---|
| Swissquote | ||
| Saxo | ||
| Interactive Brokers |
Check trading fees to keep your costs low
When buying crypto, you'll likely have to pay a trading fee to the broker. Or not! Let's see what the case is for Swissquote.
| Spot crypto fee terms | 1% of trade value |
| Spot crypto benchmark fee | $10 |
| Spot crypto fee class | High |
Sure enough, Swissquote will take a piece of your crypto trade in fees. Specifically, trading spot crypto will cost you 1% of trade value.
We also calculated what this would mean for a real-life trade where you buy $1,000 of spot crypto, let's say Bitcoin or Ethereum: the fee for this trade would be $10.
Comparing this to other brokers where you can trade spot crypto, our verdict is that Swissquote's fees are high.
Heads up! Before diving into crypto trading, you might need to sign a special amendment to your broker agreement, so double-check the exact requirements first.
Maker vs taker fees
One thing you might come across when trading crypto is a difference between maker and taker fees, depending on whether you’re adding or taking liquidity from the market. If your reaction is "huh?", no worries, here's what this means:
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If you place an order that doesn’t get filled right away (like a limit order set at a certain price), you’re a maker because you’re “making” liquidity by adding your order to the order book, which usually means lower fees.
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On the other hand, if you place an order that’s filled instantly (like a market order), you’re a taker since you’re “taking” liquidity, and this often comes with slightly higher fees.
Choose a trusted broker like Swissquote for crypto trading
Swissquote is a trusted broker for crypto investing. This is important because there are many scammers out there, especially in the area of crypto. You can be sure that Swissquote will not steal your coins or ask for upfront taxes or additional fees when you want to withdraw your funds. Check the tool below to see what makes Swissquote a trusted broker in our eyes.
Take note! Even when trading crypto at legitimate brokers that offer investor protection, this protection usually does not extend to crypto investments. Investor protection schemes, like SIPC insurance in the US or FSCS protection in the UK, typically cover only traditional assets such as stocks, bonds, and cash in case of broker insolvency.
Swissquote vs crypto exchanges
There are a number of key differences between Swissquote and a crypto exchange service. Just to name a few:
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Not all crypto exchanges are overseen by a top-tier, strict regulator and some have no regulatory oversight at all. There is a higher risk of exchanges being hacked and crypto assets stolen, which greatly decreases their safety.
- Crypto service exchanges usually charge higher fees than brokers such as Swissquote.
- Withdrawal and deposit charges at crypto exchanges are much higher than at Swissquote. Also, unused cash is not covered by investor protection at crypto exchanges.
Looking for the best crypto brokers?
Hunting for the best of the best in crypto trading? We've handpicked the cream of the crypto crop to match you with the perfect broker. Dive into our list of top crypto brokers to see your best options.
Still missing something? Our knowledgeable AI assistant Nuri is here to answer all your crypto-related needs.
Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.
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.
