Swissquote.com is a broker that offers CFDs on indices, commodities and bonds in addition to currency pairs. This company is licensed by several regulatory authorities in the world and in Europe. The minimum deposit for Swissquote broker is set at $1000.
Swissquote – Broker overview
| Minimum deposit | 1000 USD |
| Regulated broker | Yes |
| Regulation | FCA, FINMA, MFSA |
| Trading platform | MT4, MT5 |
| Demo account | Yes |
Swissquote Trading Platform
Swissquote offers its clients a total of 2 trading platforms – MT4 and MT5. Both platforms are very popular among traders and serve very well not only for opening and closing trades but also for analyzing markets. Both MT4 and MT5 support automated trading systems (EAs). You can either trade with them directly from a web browser, or you can download the platforms to your computer or mobile device. In addition to these two platforms, the broker also offers a tool called AutoChartist, which traders can use for free for technical analysis.
Swissquote fees (spreads)
Like any other CFD broker, Swissquote charges a spread fee. For the current value of this fee, please visit Swissquote’s website. We have prepared a small comparison table here, where you can find the amount of Swissquote spread fees on popular currency pairs compared to 2 other popular CFD brokers.
| | EUR/USD | USD/JPY | GBP/USD | AUD/USD |
| Swissquote | 1.7 | 1.6 | 2.0 | 1.6 |
Advantages and disadvantages summary
Swissquote must comply with strict regulatory guidelines from the FCA, FINMA, and MFSA. The broker offers 2 trading platforms and a limited-time free demo account. The currency pairs offer is quite nice, but unfortunately, the broker does not offer CFDs on e.g. stocks or cryptocurrencies.
The broker’s website is in English, however, some translations are missing and it is not so rare that some part of the text on the page is in English. The fees (spreads) charged by Swissquote are quite high (the data in the table shows the minimum spreads). They are a bit better for traders who own e.g. a premium account (minimum deposit of 10 000 USD), but even so, the minimum spread on the EUR/USD currency pair is 1.4 pips. You can check out more review of RoboMarkets.cz here.
Cons:
- Quite high fees
- Not the lowest minimum deposit
Pros:
- Free demo account
- Regulated and licensed
- Trading on MetaTrader5
- Responsive and reliable in communication
