Swissquote is a reputable banking institution that went public in 2000 on the SIX Swiss stock exchange after being created in 1996. Swissquote has 410,000 client accounts and CHF 50.2 billion across its European and Asian regulated companies, per the H1 2021 report.
Swissquote Bank, headquartered in Switzerland, provides investors access to more than 2.5 million items, such as stocks, ETFs, mutual funds, bonds, warrants, futures, currencies, options, and more. Swissquote also provides investors with in-depth advising and wealth-management services. Learn more by reading this Swissquote Review.
Swissquote Pros
- Swissquote was established in 1996 and is a low-risk broker for trading FX and CFDs because it is publicly traded and authorized by authorities in four tier-1 jurisdictions.
- Swissquote offers the complete MetaTrader platform, including add-ons like the MetaTrader Master Edition.
- Swissquote produces high-quality research in the form of daily market analysis videos and written articles in its Newsroom.
- Swissquote offers the MetaTrader platform suite, including add-ons like the MetaTrader Master Edition.
- To improve the user experience, we upgraded the Advanced Trader web platform to HTML5 and included Trading View charts.
Swissquote Cons
- Swissquote offers forex and CFD accounts in addition to its share trading service.
- Swissquote only allows cryptocurrency trading through their eTrading account.
- And their minimum FX spreads are higher than the market average for all account types.
- Swissquote’s Advanced Trader platform on desktops could use a redesign.
- Trading Central and Auto chartist can be used with MetaTrader but only as add-ons.
Can I Trust Swissquote?
Swissquote is supervised by the Swiss Financial Market Supervisory Authority (FINMA) and the United Kingdom’s Financial Conduct Authority, unlike many other brokers in the United Kingdom (FCA). Also, the Dubai Financial Services Authority (DFSA) oversees the business, and that license is extremely tough to acquire.
This demonstrates that all traders across the world can feel secure using the ECN broker services of Swissquote LTD., which holds a valid banking license. Swissquote is subject to oversight by the Monetary Authority of Singapore (MAS), the Hong Kong Securities and Futures Commission (SFC), and the Malta Financial Services Authority, among others (MFSA).
Keep in mind that not all banks with the Swiss label are supervised or licensed by the Swiss government. Clients should be wary of such platforms since they may pose security risks and are not governed by authoritative bodies. Since Switzerland is commonly associated with strict levels of confidentiality and the security of customer funds, this could lead to misunderstandings. Traders may rest certain that their money and transactions will always be secure at Swissquote due to the rules and laws mentioned earlier.
What is a zero spread account?
A zero-spread account is one that does not incur any commission fees. With a zero spread account, the spread between the broker’s bids and ask price is zero, or at least very near zero. However, spreads and other trading charges (such as commissions) may increase depending on your broker and account.
If no other commissions or fees are involved, trading with a zero spread account makes it simple to place and leave a trade without worrying about financial implications.
Even if a fee is used instead of a spread, knowing there was no spread might simplify calculating trading expenses in the books. This is because commissions are typically listed in a different column in most brokerage account reports.
Forex Brokers with the Lowest Spreads
For 2022, these are the top forex brokers with the lowest spreads are listed below.
- Tickmill is your best bet.
- At FP Markets: Full MetaTrader suite and competitive pricing
- At CMC Markets: Best web trading platform and consistent pricing
- At IC Markets: best overall for MetaTrader
- At HYCM (Henyep): competitive pricing on a Raw account
- IG best broker for professionals at Interactive Brokers; excellent pricing at IG; and excellent education and trustworthiness at IG round out the top five.
Can anyone recommend a low-spread broker?
Tickmill’s Pro account offering has the lowest average trading cost (spread + commission) for the EUR/USD currency pair as of September 2021. Although the spreads of some brokers may appear smaller on the surface, they may wind up costing you more due to more excellent commission or average spreads.