Swissquote: detailed broker review and traders’ feedback
Information about Swissquote Company
One of the leading brokers, Swissquote, started its operations in 1996. The main office is located in Gland, Switzerland, with official branches in Bern and Zurich. The company’s activities are regulated by the Swiss regulatory body FINMA.
Overview of the Registration Process on the Company’s Website
In reviews, users complain about the lengthy verification process. Registration is divided into two stages: filling out personal information and providing financial position data.
- Personal information includes full name, date of birth, phone number, and email address.
- Financial information requires account parameters, trading experience, income, and bank account details.
Overview of Trading Conditions
Swissquote offers three types of accounts: Standard, Premium, Prime, and Professional. Each account has its own features and minimum requirements.
- Financial instruments include futures, options, stocks, and others.
Opening a Demo Account
Swissquote provides the opportunity to open a demo account for practice. Access to the demo account is blocked after a month of use.
Deposits and Withdrawals
Funds can only be withdrawn via bank transfer, with processing taking up to a week and incurring a fee.
Trading Platform
Users can choose a trading program: MetaTrader4, MetaTrader5, and Advanced Trader. Each has its own features.
Educational Materials
Swissquote provides an extensive range of educational materials and conducts paid webinars in English.
Technical Support
Contact information for technical support is available on the website. Support operates promptly but does not provide services in Russian.
- Hotline phone: +41 44 825 88 88.
- Fax: +41 44 825 88 89.
- Online chat and email: forex.sales@swissquote.ch.
Company Reviews
Negative feedback concerns account blocking, disregard, and delays in fund withdrawals. However, there are also positive reviews about Swissquote‘s operations.
Advantages and Disadvantages
The company’s strengths include FINMA and MFSA certifications, headquarters location, diversity of financial instruments, and access to a demo account. Among the weaknesses are negative reviews, lack of Russian language support, and a lengthy registration process.
Summary
Broker clients express various opinions, but overall, the company is currently facing certain difficulties. To get acquainted with Swissquote, it is recommended to start with a demo account to learn about trading conditions.
Author: Alina Maymistova