Swissquote Review 2017

Swissquote Review 2017

Swissquote Review 2017

Founded way back in 1996, Swissquote is today one of the biggest and most influential financial institutions in Switzerland. They are not just your average bank, but also a very popular provider of forex and CFD trading services. At first glance, it seems like they have it all – experience, reputation and quality all seem to be the cornerstones of their offer. But what does all that really mean?

Well, this article is about to show you. We will give you our firsthand impression of the broker’s website and analyze all the features you get there.

A company like this definitely has a lot to offer, so sit back and relax because our Swissquote Bank review is about to begin. Read on!

PROS

CONS

– three trading platforms

– VR app

– no minimum deposit requirement

– no minimum withdrawal requirement

– PAMM account

– unique social network (Pulse)

– great trading robot

– Bitcoin available

– partners with Manchester United

– no bonuses

– doesn’t accept US traders

– doesn’t accept e-wallets

Swissquote Review | Account types

First, a quick disclaimer. We mentioned in the introduction that Swissqoute is a bank, so some online banking services they offer will be skipped in this review. Our focus is on forex and CFD trading and, as you are about to see, there are plenty of things to talk about when it comes to that particular part of the company’s offer.
Now, before you start trading, you will have to choose your Swissqoute account, which will be the first topic in this analysis. And right away, you will notice that this broker does not do things as many of its counterparts do. You see, your choices here are not limited by how much you deposit (there are actually no requirements for that, but we will talk about that in one of the next parts of this Swissquote review). Instead, your account will depend on which platform you want to use when trading. Therefore, there are three main Swissqoute account types: Advanced Trader, MetaTrader 4 and MetaTrader 5. Naturally, we will analyze all of the platforms later on in the guide, but for now it is important to emphasize that all features of every account are always readily available, i.e. you don’t have to deposit more to get access to more features. We should also mention that you can get your own Swissquote Visa card which is connected directly to your account. This way, every transaction you make will be debited towards it.
But those are not the only account types you can open. Like all serious brokerages, this company also allows you to open joint and corporate accounts if you’re interested. All documents for this can be downloaded from the website or you can simply contact the support for more info. We should also mention that you can also open a swap-free account, which will surely please many of our readers who practice Islam. Finally, we are happy to report that Swissquote Bank Ltd charges no account fees. However, this is just the beginning. On top of all this, there is one other very special account you can open, but we will talk about that in the next part of the review.

Swissquote Account Opening

Swissquote Account Opening

Swissquote Review | PAMM account

Apart from what we might perceive as regular accounts, you can also open your Swissquote forex PAMM account. Now, you won’t find this feature offered by all brokers; only the biggest and most established companies can offer you something like this. So if you think you have what it takes to successfully manage a fund or have the money you’d like to invest but don’t have the time to dedicate yourself to the market completely, this could very well be the perfect solution. Swissquote will provide you with all the tools and reports you need and will always have a member of the support team at your disposal. You will even have market research data just a click away. Apart from PAMM, you can also choose a LAMM or a MAM system, but the bottom line is that you can get a whole new perspective on online trading this way and reduce your risk significantly. Additionally, these systems work on every one of this broker’s numerous platforms, so you can run things however you want. In any case, once you decide which kind of account you want, the next step becomes vital if you want to trade, so stick around and learn all about it. Our Swissqoute review continues just below.

Swissquote Review | Deposit

Well, you can’t trade if you see that you don’t have any funds in your trading account after you complete the login. You get your funds to your trading account via Swissquote deposits, of course. These simple processes allow you to manage your money quickly and efficiently, as the broker only conducts business with banks whose rating is at least AA. Apart from bank wire transfers, you can also use Visa and MasterCard credit cards for this, which are also perfectly reliable options.
Swissquote deposit by credit cards can be made in numerous different currencies, from EUR, USD, CHF, GBP to HUF, CZK and PLN. Bank wire transfers also accept JPY and AUD, which completes a pretty respectable lineup. When it comes to deposit fees, the situation also varies depending on the method you decide to use because there are no fees for bank wire transfers, whereas credit cards will incur a 2% fee. What is particularly important to emphasize is the fact that there is no minimum Swisquote deposit requirement, so you can literally deposit as much as you want. This makes the bank (or the broker, however you want to look at them) accessible to literally everyone. Unfortunately, there are no bonuses at the moment either, but the broker has been known to launch promotions, so keep an eye out for a promo code that could give you a boost. However, there’s no need to worry because there are many more interesting features we need to look at in this Swissquote Bank review, so stay with us!

Swissquote Deposit

Swissquote Deposit

Swissquote Review | Withdrawal

We took a look at the deposit process, so now it’s time to take a look at Swissqoute withdrawal, too. Obviously, you will eventually want the funds from your trading account back, so let’s see how you can initiate the transfer.
As always, before you withdraw, you will need to verify your account (your ID and your address need to be confirmed). A utility bill and your passport or ID will do perfectly fine. Once you do that, you will be able to fill out the withdrawal form and withdraw as much as you like because the minimum Swissquote withdrawal requirement does not exist! However, do keep in mind that the only available withdrawal method is by using bank wire transfers which take between one or two days to process. Swissqoute will also charge you withdrawal fees for every transaction, but the amounts are really not that high – 2 CHF, 10 USD and 2 or 10 EUR, depending on whether or not the payment is going to the SEPA zone.
In addition, you don’t ever have to worry about your funds reaching you because this is a regulated and monitored trading institution. We took a closer look at the whole security system in our Is Swissqoute a Scam? article, so if you need more information about regulation and security you can head over there. Now, we will steer this Swissqoute review towards the trading methods and environments you have here, which are really quite numerous. First up, it’s the risk-free trading zone!

Swissquote Withdrawal

Swissquote Withdrawal

Swissquote Review | Demo account

Online trading is a serious business, so don’t go in blindly. You don’t want to lose any money by randomly opening trades and then simply hoping for the best. Gather as much information about what awaits you before you place your first investment, and the best way to do that is to open a Swissquote demo account. This is a completely free feature that allows you to test Swissqoute’s two platforms (MetaTrader 4 and MetaTrader 5, but more on them later) and learn about the tools they offer. You just have to fill out a short form containing your name, e-mail and phone and your first demo login will be complete.

Swissquote Demo Account

Swissquote Demo Account

Swissqoute demo account has more than 130 different assets you can test your strategies on, plus there are loads of indicators and other analytical tools you can learn to use, all without any financial risk whatsoever. You will be given 100,000 virtual EUR for trading here, so the feeling will be just as if you were trading for real. Also, the practice account is not limited by time, so you can return to it whenever you want. As you can see, this can also be an excellent educational tool, but there are many more things that can back it up. Simply read up on forex trading in the broker’s learning center and then come back here and test your knowledge. Come to think of it, why don’t we move our Swissquote review on to that part of the website and see what it has to offer?

Swissquote Review | Education

In online trading, it is very important to keep developing your trading skills. There is always something new to learn or a new theory to test out, which is where the demo account comes in. However, before you can use it effectively, you have to have a certain degree of theoretical knowledge. This is where the educational section of Swissqoute’s website can help you out immensely and it is divided into two sections – the learning center and webinars.
The learning center is mostly composed of videos, although there are some educational materials you can download, too (an eBook and several user guides). There are more than 20 videos which cover everything from forex and CFDs to risk management and various analyses. Naturally, you don’t have to pay anything to access these materials, so this is the perfect place to start if you’re a beginner.
More advanced traders should register for upcoming Swissquote webinars which are usually held twice a month. Some pretty reputable guest lecturers will always be there, so you will always be able to learn a thing or two from people who can be considered experts in their field. And if you have to miss a webinar, don’t worry – simply check the archives and watch it later. We would also encourage you to check weekly reports regularly, just to get a sense of where the market is heading. When you feel ready, head to the trading platform, but be careful because there are several options to choose from. We will help you make the right choice in the following part of Swissquote review.

Swissquote Education

Swissquote Education

Swissquote Review | Trading platforms

OK, so now you feel completely prepared to start trading. The question is – where do you go from here? Well, you go to one of the Swissqoute trading platforms we mentioned earlier. Remember those three? Let’s see what they have to offer. Just don’t confuse them with other platforms; these ones are dedicated to forex and CFD trading, but you also have platforms for derivatives, investment themes etc.
The first platform we need to mention is Advanced Trader. Now, this is a platform completely developed by the broker, and we must say we were very pleasantly surprised with what it has to offer. First of all, you can set up the interface however it suits you, plus there are loads of popular and useful analytical tools at your disposal. You will also receive market news regularly and be able to choose from a variety of different orders. Finally, what we liked most about Advanced Trader is the fact that it has a system designed to help you detect various patterns. So if you miss something, the software will readily point you in the right direction.
Other two Swissquote trading platforms are MetaTrader 4 and MetaTrader 5, probably the most famous trading softwares in the world. If you are at all familiar with the forex industry, you know that they offer an extremely big number of possibilities, including creating your own indicators, various analytical objects, automated trading and much more. Today, mt4 is pretty much a classic, whereas mt5 belongs to the newest generation of trading platforms and the broker did well to include them both. But Swissqoute review has to cover many more interesting ways of trading. As a matter of fact, we’re just starting with them, so don’t go away!

Swissquote Trading Platforms

Swissquote Trading Platforms

Swissquote Review | Robo Advisor

What is particularly interesting about trading on this website is the fact that you can use your own personal robot to help you manage things. Now, we know that automated trading is nothing new, but Swissqoute Robo Advisor is definitely one of the best in its field. Additionally, it is also a product that has won numerous prizes.
You get loads of customizable parameters with this feature, so you can really plan everything down to the tiniest detail. After choosing the assets that interest you and creating your portfolio, you proceed to set the conditions under which you would like the trade to be opened. This is where we come to the first big advantage of Swissquote Robo-Advisory because you get to simulate the conditions and see how it all will play out. You can compare your strategy to other ones and come and change it whenever you want. You are in complete control all the time, and the robot is simply acting in your stead.

Swissquote Robo Advisory

Swissquote Robo Advisory

However, the problem with trading robots is that they take things too literally and never adjust your instructions to the situation on the market. Not this one, though – your Robo Advisor will keep monitoring the market and analyzing how its various elements affect each other. Because of that, it will actually act to reduce risk and balance your portfolio. Not to mention that it helps you avoid stress. However, this is just one innovative way of trading here. Learn what your other options are in the rest of this Swissqoute review.

Swissquote Review | Mobile apps

Swissquote has a lot to offer when it comes to mobile trading, too. This is all done through apps which come in a variety of versions, so pretty much all types of traders should be satisfied. Let’s take a look.
The first product we want to examine here is your basic Swissquote mobile app. It comes in versions for your iPhones and iPads, Android devices, Windows OS and even for your smart watch. With it, you can easily browse the most important stock exchanges and follow the stocks that interest you the most while examining their market history. You will also receive the latest news this way, as well as be able to utilize your Robo Advisor. Everything works smoothly, so we have absolutely no problems recommending this to everyone.
However, there are also some other options you may want to consider. You see, every trading platform we mentioned earlier also has its own mobile version. Therefore, if you want your Swissquote Advance Trader mobile app, all you have to do is download it from Google Play or the App Store. This is an excellent solution for forex and CFD trading, especially for beginners, because it has an integrated tutorial and allows you to trade on your demo account. Additionally, you have more than 100 instruments to choose from, different types of orders and numerous analytical tools. You can also easily access forex reports on Swissqoute’s website this way.
Finally, you can also download your MetaTrader 4 and 5 apps. Here too you get news and access to the market history, but there are also various types of charts, objects and indicators you can use to analyze the situation on the market. Forex and CFDs are both available, and you can even chat with other registered users. You probably know all too well why MetaTrader platforms are the most popular trading platforms in the world, so we will stop there, but allow us just to say that all of the aforementioned apps are completely free. However, there is one more very special app. In fact, it’s so special that it deserves its own part in this Swissqoute Bank review. You can find out just below why we say that.

Swissquote Mobile Apps

Swissquote Mobile Apps

Swissquote Review | Trading VR

If you really want to immerse yourself in trading, there is absolutely no better way to do that than by using the Swissquote Trading VR app. Now, you really won’t find too many brokers using virtual reality to create a completely new trading experience for their clients. In fact, we can’t remember the last time we saw one offering anything like it, which is why you really have to appreciate what this company has done. Naturally, everything you do in your virtual trading world is directly connected to your trading account.
Like we said, this is an app and this means that you can get it from both the App Store and Google Play. It will run on your VR headset or on your Google Cardboard, so feel free to make your choice. Swissquote Trading VR app is also very functional because it allows you to trade quickly via its Fast Trade function. Just find the asset you’re interested in on the listings wall and you’ll be able to invest almost instantly. The app may need some configuration when you first activate it, though, but this is done pretty easily thanks to the numerous options you have. In short, this is a pretty special experience and we encourage you to check it out if you can. But before you do, finish our Swissquote Bank review – we have a lot more to say.

Swissqoute Trading VR

Swissqoute Trading VR

Swissquote Review | Pulse

We’re not done with the innovations this company brings to the table, oh no. The next thing we absolutely must mention is Swissquote Pulse, a social network developed by this very company for its traders. The network completed its beta phase last summer and is now finally fully operational, so allow us to show you how it can benefit you.

What Swissquote Pulse is intended to be is a place where you can communicate with other traders in an informal manner. This allows you to discuss your trading strategies and improve them by exchanging ideas. It kind of reminds us of Twitter, with its hashtags and relatively short posts, only more specialized for trading activities. Additionally, you can also discuss various aspects of the company’s offer there and even work on improving it by providing accurate feedback. The fact that you can do this testifies about the broker’s willingness to accept criticism and do everything in its power to improve itself. More importantly, it also tells you that this is a company that hides nothing.
At the moment, Pulse is available in Italian, French, German and English and can also be used on mobile devices. You don’t even have to have a Swissquote account – it is possible to access this social network by using your Facebook, LinkedIn or Twitter account. That’s it for this part of Swissquote review, but we are still far from over, so keep reading!

Swissquote Pulse

Swissquote Pulse

Swissquote Review | Bitcoin and other cryptocurrencies

Pulse was actually not the only new feature to be launched in the summer of 2017. In July, the company also announced that it is going to allow its clients to start trading Bitcoin on its website. This is the result of a partnership agreement with Bitstamp, a well-known digital currency exchange.
Therefore, you now also have the option of investing in this cryptocurrency because you can easily exchange it for EUR and USD or vice versa. The whole process is extremely simple as you only have to activate the Bitcoin service in your Swissquote account with a single click. After that, you’ll be ready to trade however you want. Be aware, though, that there are some trading fees to consider here because you will be charged between 0.5% and 1%, depending on the size of your transaction. Swissqoute has also stated that it will be introducing new cryptocurrencies like Ethereum and Litecoin very soon, which will certainly attract a lot of new clients given how much the popularity of this kind of trading is growing these days. So keep your eyes open and continue reading because we have more interesting stuff for you in this review.

Swissquote Bitcoin Trading

Swissquote Bitcoin Trading

Swissquote Review | Fees and numbers

Apart from platform features, there are some other things you need to be aware of before you start investing. By this we mostly mean Swissqoute fees and other important numbers that have a significant impact on your trades and potential profit. Here’s a short overview of what you need to know – these are your forex conditions.
We’ll start things off with Swissquote spreads which come in three different categories – Standard, Premium and Prime. The category depends on the size of your investment: up to 25,000 USD is the Standard category, between 25,000 and 100,000 USD is Premium and all above that is Prime. Another very important number you need to be aware of is the leverage you get here. If you decide to go with the MetaTrader platforms, it will go up to 1:400 for accounts with less 10,000 USD in their balance. Otherwise, the leverage is 1:100. All things considered, these are pretty average numbers when compared to the rest of the industry.
As for the fees, we already mentioned money transfer fees earlier, so we will mention Swissqoute overnight rates here (also known as rollover fees). We cannot give you an exact number here because they are calculated on daily basis, just be aware that the broker does charge them. However, there is a detailed table of swap rates on the website which is updated regularly, so head on over there for more info. As a matter of fact, Swissquote has pretty much all of its fees, charges and tariffs clearly laid out there in various handy forms, which makes things a whole lot easier. Remember to check the interest rates while you’re there because they are monthly and fixed and should definitely be a part of your calculations. Does all this sound overwhelming to you? Don’t worry; you can always rely on expert help here. More on that in the next part of this Swissqoute review.

Swissquote Review | Support and contact

You can see from the size of this analysis that this broker has a lot to offer. Fortunately, the Swissquote support team can help you find your way around the website, and there are quite a few contact methods you can use to get in touch with them. Standard methods like live chat, e-mails and phone calls (callbacks also available) can all be used and you can always count on quick answers from knowledgeable people on the other side. However, that’s not everything Swissqoute has to offer when their clients need help. Since a detailed FAQ section is also available, you can find out everything that interests you with a click of your mouse button. Honestly, they really went all in in this case and the number of answered questions is simply staggering. In short, there is no way you won’t be able to find the information you need. The company is also present on Facebook, Twitter and LinkedIn, so you can ask them anything there, too. On top of all that, you can also sign up for their newsletters.
Just as you would expect from a widely respected brokerage, Swissquote has offices all around the world. Their headquarters is in the Swiss municipality of Gland, but they are also present in Zurich and Bern. Other offices are located in London, UK, Dubai, Hong Kong and Malta, with all contact information, from address to office hours, clearly stated on the website for each of them. As you can see, Europe is well covered, but we would like to draw your attention to two Swissqoute Dubai offices. One of them is a special UAE representative office, while the other acts like a customer support center.
We also have to say that Swissquote does not accept US traders at the moment, unfortunately. Traders from other countries, such as Indonesia, Singapore, South Africa, Thailand and pretty much the rest of the world, are all welcome. Before we wrap this up, however, you’ll be interested to know about a big sponsorship agreement involving this particular bank. Only one more paragraph before we conclude the review!

Swissqoute Contact

Swissqoute Contact

Swissquote Review | Manchester United

It is not unheard of for brokers and banks to join forces with the best athletes and clubs in the world. If they can do that, you can be absolutely sure they are a big and respected company. We have one such cooperation in this case too, and we would argue that it is one of the most spectacular deals in the world of online trading. You see, Swissquote is a sponsor of Manchester United, one of the most famous football clubs on the planet. Given that Swissqoute Bank is one of the best forex brokers in the world, it’s not a big surprise that these two institutions have joined together. This partnership started in January 2015 and is still going, so we can say that both parties have profited from the relationship. Certainly, the fact that Swissqoute was deemed a desirable partner by Manchester United says a lot about the company and can be seen as its big success because clubs like this are always very careful who they choose as their business partners. With that, we can bring this review to a close. It’s been a big article, so if you need everything condensed in a few sentences just stay for the conclusion.

Swissquote Manchester United Sponsorship

Swissquote Manchester United Sponsorship

Swissquote Review | Conclusion

There was certainly a lot of ground to cover in this Swissquote review, but we really enjoyed researching everything. From login to withdrawal, this company offers loads of features to traders from all over the world, and you can really expect top-notch service no matter what you’re looking for. This a serious, respected and very professional Swiss bank, so you can rest assured that you are in extremely capable hands. Furthermore, there are several different ways of trading you can choose between, including three exceptional trading platforms, an excellent trading robot and several very handy apps. They even have a VR app and their own social network you can use whenever you want! On top of that, there are no minimum withdrawal and deposit requirements, so you are free to manage your funds as you please. Educational materials are also very detailed and you can sign up for some very interesting webinars. Finally, we have to say that Swissqoute has also partnered up with Manchester United, one of the most illustrious football clubs in the world. A partnership like this really says a lot about the reputation this company has, so you really don’t have to think too much about opening an account with them. Sign up and you will enjoy one of the best online trading experiences on the planet.

Author's overall rating:
Author: Ben Prescott
Updated:

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