Are you wondering what Swissquote is? And if it’s a great forex broker? How can you choose the best forex broker for yourself? Here in this article we will give you a detailed Swissquote review.
What Swissquote actually is?
A banking group specialized in trading systems. It is a Swiss based investment banking system formed in 1996, allowing you to invest in stocks and products. Now it is located all around the world including Switzerland, Hong Kong, UAE, US, UK and Singapore but the main location is Switzerland which is under regulation of FINMA (Swiss Financial Market Supervisory Authority).
They provide satisfactory customer support by prioritizing reliability over indicators like:
- size of minimum deposit
- Conditions of deposit
- Trading conditions
- Rules of funds withdrawal
Types of accounts of swissquote
There are 4 different types of accounts offered by swissquote:
Trading
You can access trade in the stock market with the help of this account.
Forex
If you are a forex exchange trader, this account is for you.
Robo advisory
This account provides digital financial advice.
Crypto assets
You can trade many cryptocurrencies in this type of account.
Trading conditions:
Here are few trading conditions of swissquote bank:
| Minimum deposit | 1000$ |
| Leverage | 1:100 |
| Support | 24/5 |
Geographic Distribution:
Here is the geographic distribution of swiss quote bank:
- Switzerland (67.52%)
- China (3.22%)
- UAE (2.3%)
- Germany (1.96%)
- Saudi arabia (1.91%)
- France (1.89%)
- Russian Federation (1.83%)
- Argentina (1.16%)
- United Kingdom (1.13%)
- United States (1.03%)
- Others (16.05%)
Benefits of swiss quote trading:
Swiss quote provides you variety of benefits including:
- Targets large investors ignoring the needs of the average investor.
- It has a license.
- Affiliate programs are present
- Users can use a wide variety of currency pairs like cryptocurrencies, stock indices, commodities, or popular assets.
How to choose a great forex broker?
Are you confused about choosing the best forex broker in the world? Here are few tips which you can use while choosing it for you:
Timespan of company in the market:
The older the company is in the market, the more reliable it would be. You can check their reviews and other people’s experiences if they are in the market for a long time. Older companies do have their name built and a reputation to maintain so they tend to be a good option for you.
Which country is it based on?
Check the country on which the broker is based. Registration with some company makes it more reliable and you feel more safe working with them.
Look for a licensed company:
Licenses play a huge role in the trust and reliability of a company. It should be your first priority to check and choose a licensed company. If you don’t choose a license company for you there is high risk to your portfolio. Licensed companies are under control of independent government bodies providing you protection and security.
Customer service:
Forex trading happens 24 hours a day. So choose a forex broker that provides you support all the time. You can read the customer reviews of the company. Also, do your investigation asking their customers about their experience.
Trading conditions:
Every broker offers a different combination of trading conditions. Make a list of conditions you are looking for. Before deciding and choosing you must know:
- What is your minimum deposit range?
- Do you want highly leveraged trades?
- Rate of commission you want.
- Depositing and withdrawal of money.
Check reviews and rankings:
Other company reviews can give you so much information about the forex broker you are choosing. You can also check reviews and rankings on traders unions. We have a team which does proper research and audit to make a list of reviews and rankings you are looking for.
Top 5 forex broker
Here is a list of Top 5 forex broker and their comparison:
Pocket Option:
It gives you a minimum deposit of 50$ with leverage of 1:1 to 1:1. Trading platforms are MT5 and pocket options
Robo Forex:
It gives you a minimum deposit of 10$ with leverage of 1:1 to 1:2000. Trading platforms are MT4, mobile trading, MT5, cTrader, Currenex and Viking trader.
eToro:
It gives you a minimum deposit of 200$ with leverage of 1:2 to 1:30. Trading platforms are MobileTrading, and WebTrader.
Forex4you:
It gives you a minimum deposit of 1$ with leverage of 1:10 to 1:500. Trading platforms are MT4 and MobileTrading.
XM Broker:
It gives you a minimum deposit of 5$ with leverage of 1:1 to 1:30. Trading platforms are MT5, MT4, and MobileTrading.