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Regarding the legitimacy of Swissquote forex brokers, it provides SFC, FCA, FINMA, DFSA, MFSA and WikiBit, (also has a graphic survey regarding security).

Is Swissquote safe?

Rating Index

WikiFX Detection

Software Index

Full License

Risk Control

Risk Manage

Is Swissquote markets regulated?

The regulatory license is the strongest proof.

Leveraged FX

SFC Leveraged foreign exchange trading

Securities and Futures Commission of Hong Kong

Securities and Futures Commission of Hong Kong

Regulatory Agencies Introduction
  • Current Status:

    Regulated
  • License Type:

    Leveraged foreign exchange trading
  • Licensed Entity:

    Swissquote Asia Limited Swissquote Asia Limited
  • Effective Date:

    2013-02-25
  • Email Address of Licensed Institution:

    compliance.hk@swissquote.com
  • 53748:

    No Sharing
  • Website of Licensed Institution:

    swissquoteasia.com
  • Expiration Time:

    --
  • Address of Licensed Institution:

    香港中環花園道3號工商銀行大廈32樓3202-04室
  • Phone Number of Licensed Institution:

    --
  • Licensed Institution Certified Documents:

11 name
STP

FCA Straight Through Processing (STP)

Financial Conduct Authority

Financial Conduct Authority

Regulatory Agencies Introduction
  • Current Status:

    Regulated
  • License Type:

    Straight Through Processing (STP)
  • Licensed Entity:

    Swissquote Ltd Swissquote Ltd
  • Effective Date:

    2012-05-02
  • Email Address of Licensed Institution:

    info@swissquote.co.uk
  • 53748:

    No Sharing
  • Website of Licensed Institution:

    www.swissquote.co.uk
  • Expiration Time:

    --
  • Address of Licensed Institution:

    Boston House 63-64 New Broad Street London EC2M 1JJ UNITED KINGDOM
  • Phone Number of Licensed Institution:

    +442071862600
  • Licensed Institution Certified Documents:

11 name
Fin. svc.

FINMA Financial Service

Swiss Financial Market Supervisory Authority

Swiss Financial Market Supervisory Authority

Regulatory Agencies Introduction
  • Current Status:

    Regulated
  • License Type:

    Financial Service
  • Licensed Entity:

    Swissquote Bank SA Swissquote Bank SA
  • Effective Date:

    --
  • Email Address of Licensed Institution:

    --
  • 53748:

    No Sharing
  • Website of Licensed Institution:

    --
  • Expiration Time:

    --
  • Address of Licensed Institution:

    --
  • Phone Number of Licensed Institution:

    --
  • Licensed Institution Certified Documents:

11 name
Retail FX

DFSA Retail Forex License

Dubai Financial Services Authority

Dubai Financial Services Authority

Regulatory Agencies Introduction
  • Current Status:

    Regulated
  • License Type:

    Retail Forex License
  • Licensed Entity:

    Swissquote MEA Ltd. Swissquote MEA Ltd.
  • Effective Date:

    2012-07-16
  • Email Address of Licensed Institution:

    --
  • 53748:

    No Sharing
  • Website of Licensed Institution:

    --
  • Expiration Time:

    --
  • Address of Licensed Institution:

    Office No 3, Level 9, Currency House Building, Tower 2, DIFC, PO Box 125115, Dubai, UAE
  • Phone Number of Licensed Institution:

    971 4 450 1777
  • Licensed Institution Certified Documents:

11 name
Inv. advsy

MFSA Investment Advisory License 2

Malta Financial Services Authority

Malta Financial Services Authority

Regulatory Agencies Introduction
  • Current Status:

    Exceeded
  • License Type:

    Investment Advisory License
  • Licensed Entity:

    SWISSQUOTE FINANCIAL SERVICES (MALTA) LTD SWISSQUOTE FINANCIAL SERVICES (MALTA) LTD
  • Effective Date: 53749

    2014-07-11
  • Email Address of Licensed Institution:

    --
  • 53748:

    No Sharing
  • Website of Licensed Institution:

    www.swissquote.com/malta
  • Expiration Time:

    --
  • Address of Licensed Institution:

    PenderGardens St Andrew's Street SAN GILJAN MALTA STJ1901
  • Phone Number of Licensed Institution:

    --
  • Licensed Institution Certified Documents:

11 name

  

Is Swissquote A Scam?

  

Introduction

  Swissquote is a well-established online broker and banking group based in Switzerland, founded in 1996. It has positioned itself as a leading provider of financial services, offering a wide range of trading instruments including forex, CFDs, stocks, and cryptocurrencies. Given the complexities and risks associated with forex trading, it is crucial for traders to thoroughly evaluate the credibility and reliability of their chosen broker. This article aims to provide an objective assessment of Swissquote by examining its regulatory status, company background, trading conditions, client fund safety, customer experience, platform performance, and associated risks. The analysis is based on a comprehensive review of various sources, including regulatory filings, user reviews, and expert opinions.

  

Regulation and Legitimacy

  Regulation is a fundamental aspect of any trading platform, as it ensures that brokers adhere to strict guidelines that protect investors. Swissquote operates under multiple regulatory authorities, which enhances its credibility in the financial market.

Regulatory Authority License Number Regulatory Region Verification Status
FINMA N/A Switzerland Verified
FCA 562170 United Kingdom Verified
DFSA F001438 Dubai Verified
SFC N/A Hong Kong Verified
MFSA C 57936 Malta Verified

  Swissquote is regulated by tier-1 authorities, including the Swiss Financial Market Supervisory Authority (FINMA) and the UK's Financial Conduct Authority (FCA), which are known for their stringent regulatory frameworks. This multi-jurisdictional oversight not only instills confidence in the broker's operations but also mandates high standards for transparency and client protection. Historically, Swissquote has maintained a good compliance record, with no significant regulatory breaches reported, which further underscores its legitimacy as a broker.

  

Company Background Investigation

  Swissquote has a rich history dating back to its inception in 1996, evolving from a financial software company to a prominent online banking and trading platform. The company is publicly traded on the SIX Swiss Exchange, which adds a layer of transparency to its operations. Its ownership structure is robust, being part of the Swissquote Group Holding Ltd, which operates multiple banking entities across different regions.

  The management team comprises experienced professionals with backgrounds in finance, technology, and banking, ensuring that the company is well-equipped to navigate the complexities of the financial markets. Swissquote places a strong emphasis on transparency, regularly publishing financial reports and updates to keep its clients informed about its performance and strategic direction.

  

Trading Conditions Analysis

  Swissquote offers a range of trading accounts, each with distinct features and fee structures. The overall cost of trading with Swissquote can be categorized into spreads, commissions, and overnight fees.

Fee Type Swissquote Industry Average
Major Currency Pair Spread 1.7 pips 1.2 pips
Commission Model None Varies
Overnight Interest Range Varies Varies

  Swissquote's spreads are slightly higher than the industry average, which may deter cost-sensitive traders. While the broker does not charge commissions on most accounts, it implements an inactivity fee after six months of dormancy, which could be perceived as a drawback. Overall, while the trading conditions are competitive, traders should carefully consider the fee structure before proceeding.

  

Client Fund Safety

  Client fund safety is paramount in the financial sector, and Swissquote implements several measures to ensure the security of its clients' funds. The broker maintains segregated accounts for client funds, ensuring that these are kept separate from the company's operational funds. This practice protects clients' money in the event of financial difficulties faced by the broker.

  Additionally, Swissquote is covered by investor protection schemes, such as the UK's Financial Services Compensation Scheme (FSCS), which provides compensation up to £85,000 for eligible clients in case of insolvency. The broker also offers negative balance protection, which prevents clients from losing more than their initial investment, further enhancing the safety net for traders.

  

Customer Experience and Complaints

  Customer feedback is a critical indicator of a broker's reliability and service quality. Swissquote generally receives positive reviews for its customer support, which is available 24/5 through various channels, including live chat, email, and phone. However, some users have reported slower response times during peak periods.

  Common complaint types include issues related to account verification, withdrawal delays, and platform usability.

Complaint Type Severity Level Company Response
Withdrawal Delays Moderate Generally responsive
Account Verification High Timely resolution
Platform Usability Low Ongoing improvements

  For instance, a user reported a delay in withdrawing funds, but noted that the company eventually resolved the issue after a few inquiries. While complaints are common in the brokerage industry, Swissquote's proactive approach to customer service helps mitigate many of these concerns.

  

Platform and Trade Execution

  Swissquote provides a suite of trading platforms, including the popular MetaTrader 4 and 5, as well as its proprietary Advanced Trader platform. Users generally praise the platforms for their reliability and range of features, including advanced charting tools and automated trading capabilities.

  The execution quality is typically high, with low slippage reported. However, some traders have expressed concerns about occasional rejections of orders during high volatility periods, which can be frustrating for active traders.

  

Risk Assessment

  Trading with Swissquote, like any broker, carries inherent risks.

Risk Category Risk Level Brief Description
Regulatory Risk Low Well-regulated broker
Financial Risk Medium Higher spreads may impact profitability
Operational Risk Medium Occasional platform issues

  To mitigate these risks, traders are advised to conduct thorough research, utilize demo accounts, and implement sound risk management strategies, such as setting stop-loss orders and not over-leveraging their positions.

  

Conclusion and Recommendations

  In conclusion, Swissquote is a legitimate and well-regulated broker with a strong reputation in the financial industry. There are no significant signs of fraud or misconduct, and the broker offers a comprehensive range of trading instruments and robust customer support. However, potential traders should be aware of the higher minimum deposit requirement and slightly elevated trading costs compared to industry averages.

  For new traders or those with limited capital, it may be prudent to explore alternative brokers with lower entry barriers. Conversely, experienced traders seeking a reputable platform with a wide range of services may find Swissquote to be an excellent choice. Overall, Swissquote represents a safe option for traders looking to engage in the forex and CFD markets.

Is Swissquote a scam, or is it legit?

The latest exposure and evaluation content of Swissquote brokers.

Never withdrew money
I wanted to withdraw the remaining $73, it's been almost two weeks and it still hasn't been credited to my account. The customer service is slow in responding to emails.
Swissquote Bank arbitrarily adds spreads and fees, deceiving people.
In July 2022, in a certain QQ group about stocks, a manager surnamed Huang recommended opening a forex trading account with the option to copy trades. As a complete novice, I had no idea that Swissquote Bank's trades originally had no commissions but such large spreads (which I only learned later)—each standard lot cost $50 to open. Under their guidance, I successfully lost everything. Since the trades were executed by following their lead, I accepted the losses. I ask for nothing else but the return of the total commission fees paid based on the number of lots traded.
TMGM black platform, maliciously expanding the spread, more than two hundred pips!
My account is 7148871. I trade on the TMGM platform. I choose to use this platform for its security and stability. But TMGM is a black platform. On December 26th, XAU/USD malicious slippage and expanded more than two hundred pips, resulting in the liquidating of more than 100,000 U.S. dollars. The liquidity provider offer is not so low, the platform's forced leveling mechanism also has a problem. I hope that this matter is exposed so that everyone will be warned not to use this black platform, this platform is not trustworthy.
Be careful! The account manager can change bank rules at will! No oversight!
Third-party transfers were supported when opening the account. It seemed friendly at first. But soon after all funds were deposited, their attitude changed. They no longer support third-party transfers. The transfers I'm referring to are transfers to third-party personal accounts—not risk funds or transfers to other trading platforms, let alone money laundering. Moreover, their official website still states that third-party transfers are supported. I am a frequent trader, but the account manager outright declared: 'We do not support or provide third-party transfer services,' and refused to give any reason. Be cautious: Swissquote Bank's account managers can set their own rules, disregarding the bank's policies. Even complaints won't resolve the issue. This indicates that the bank's management tacitly allows account managers to restrict user account functions without justification, ignoring bank rules. Depositing money is very convenient, but withdrawing it is extremely difficult. Contacting the account manager is futile—they simply ignore you. This bank is completely dishonest and behaves with a 'big business bullying customers' attitude. The account managers are very impolite. Unlike other brokers like Interactive Brokers and XM, which reply to emails 100% of the time and are honest, professional, and at least respectful to clients, Swissquote is the most arrogant and rude platform I've ever traded with. Their lack of integrity and bullying of customers is self-destructive.

Swissquote latest industry rating score is 7.23, the higher the score the safer it is out of 10, the more regulatory licenses the more legitimate it is. 7.23 If the score is too low, there is a risk of being scammed, please pay attention to the choice to avoid.

Swissquote safe