Is Swissquote an honest reliable broker? Is Swissquote a real bank? Can I trust Swissquote? – FinTech Events Center Swissquote review intends to deliver an honest and unbiased 360 degree outlook on one of the largest retail Forex brokers.
We have based our Swissquote review on the following categories:
Regulation: Swissquote regulation
Platform: Swissquote trading platforms
Customer care: Swissquote customer care review
Trading accounts, spread, trader feedback, deposit and withdrawal speed
Swissquote is a brand name under Swissquote Bank LTD. The company was established in 1996 covering almost every country globally, except USA and FINMA restricted countries.
Since its inception, the broker has rapidly become the undisputed Swiss leader in online trading and financial services. The company has over 300,000 private investors and institutional clients. Meanwhile, Swissquote Bank is a regulated bank which is regulated by the Swiss Financial Market Supervisory Authority (FINMA). The bank is also a member of the Swiss Banker Association with offices in multiple locations in Switzerland. The company has a great track-record, as a financial services provider, with special focus on strong customer service and technology.
Swissquote Regulations review
When we look into Swissquote Regulations review, we can start with a wow! In terms of regulation, Swissquote has 5 separate licenses. These licenses are from Switzerland, UK, UAE, Hong Kong and Malta.
Switzerland: Swissquote Bank SA is regulated by the FINMA.
UK: Swissquote is operating through Swissquote Ltd registered under the FCA UK reference number 562170 since 02/05/2012.
UAE: In Dubai, UAE Swissquote is operating via Swissquote MEA Ltd since 14 Jun 2012 with the registration number of 1228.
Hong Kong: The company is operating via Swissquote Asia Limited with the license number AZV127since the 25th February 2013
Malta: Swissquote Financial Services (Malta) Ltd. is a regulated entity in Malta with the MFSA license number of C 57936.
Swissquote trading platform review
You can trade much more than just Forex with Swissquote. Therefore, among Swissquote trading platforms, you will find more than MT4 and MT5.
Swissquote Advanced Trader trading platform is a custom proprietary trading platform. If you are using Advanced Trader platform, you can switch between Desktop, Web or Mobile versions. This platform allows you place orders directly on the interbank market and receive exclusive live market commentary from FX Insider.
It is not just a trading account! Swissquote offers wide range of services to their clients:
The company provides wide range of trading instruments including Forex, Commodities and CFD’s with Advanced Metatrader 4 and Metatrader 5 trading platform.
Swissquote provides wide range of financial education support including educational materials and webinars to help traders to enhance their trading knowledge.
Institutional solutions including partnership as an IB, White Label and Money managers.
Since we are not talking of just a broker, we can talk about a number of Swissquote advantages. Let’s list some of the advantages of trading with Swissquote:
Security: Bank grade security of Swiss Bank
Liquidity: Interbank Trading conditions with Tier 1 bank liquidity
Support: Best in class customer support for 24/5
True Financial services: Simple trading terms without any catchy trading promotions
Let’s look into additional points:
Market Capitalization: Swissquote has CHF 500 million of market capitalization
Swissquote assets: 10 billion CHF worth of assets
Volume: Swissquote annual client Forex volume is 1 trillion CHF
Like every company, Swissquote also has some disadvantages, or at least points that we would have liked to see different.
Swissquote like most of the EU licensed companies does not accept US traders.
Since Siwissquote is a bank, their KYC documentations is a little more in-depth than other EU brokers. So, sometimes expect more than a day for your account to get approved.
To conclude about Swissquote, the broker provides high security of funds with respectable number of regulations and experience of operating over 2 decades . As of FinTech Events Center analysis on the broker, Swissquote has been found very reliable and trustworthy to trade with most advanced trading tools and trading support.
"mayabanin01atgmaildotcom"I had a hard time trading recently, I was duped by a bogus broker it was difficult to get a withdrawal after many failed attempts. I had to hire a recovery solution firm to get my funds back.Pros:Easy to use and understand Cons:withdrawals are slow
"It is not just a broker, it is a bank"Swissquote is not just a Forex broker, but a bankPros:Security of funds and execution Cons:I hated their compliance process, asked for my documents many times.
As of November 13, 2017 Swissquote does not have any forbidden trading style.
Is Swissquote Trustworthy?
Within this review, we can conclude that Swissquote is a reliable Trustworthy Forex broker and bank!
Swissquote is well regulated by world’s most renowned regulatory bodies. In Switzerland, Swissquote is regulated by Swiss Financial Market Supervisory Authority (FINMA). It is also a listed entity with the ticker symbol “SQN” since May 2010.
In the UK, Swissquote is operating through Swissquote LTD under the FCA UK registration number 562170. Swissquote has been providing trading services over 2 decades with no lucrative promotions but with world class trading services for their clients which does prove their credibility of being a trustworthy broker.