Swissquote is one of the famous Swiss brokers that many investors and traders are using. People are attracted to it to invest in the stock market. But is swissquote a good option for you?
Here in this article we will give you a detailed swissquote review, its pros and cons, and if it’s the best forex broker in the world?
Swissquote group is a part of the Swiss banking system operating in many countries. This group has access to 60 stock exchanges in the world. Also giving you some services other than the stock market like cryptocurrencies.
Here is a list of pros and cons of the Swissquote Company banking system you might need to know before signing up with them.
Pros of Swissquote:
Here are some pros of the Swissquote banking system.
License availability:
They are licensed from an authoritative regulator providing you security by holding it in a custodian bank account under your name. Hence you get high level protection from it.
Two Factor authentication:
You can also have an option to choose two factor authentication for yourself. It provides you more security. Overall you will find no security problems in Swissquote.
Wide range of services:
Swissquote banking system provides you a variety of services with trading, forex exchange, investing with cryptocurrencies, and robo advisory.
Easy to use:
Account opening and using processes is so easy that everyone can do it. By following a few steps you would be able to open your account successfully. You just have to provide some of your personal information and your general knowledge about finance.
Cheap and affordable:
You don’t need a huge amount to start trading on swissquote. You can start with minimum investment. Even its fees are also affordable as compared to other brokers.
Well established company:
It was formed in 1996 and till now this company has been well established. This group provides services in many different countries offering funds, contracts, stocks, bonds etc. It has been turning profits for many years now which makes it reliable.
Cons of Swissquote:
Where there are many pros of this banking system, we also have some cons.
Slow working site:
Working on swissquote may take some more time than usual which is the little disadvantage about it. The account making process takes time.
Paid research tools:
Some research tools of Swissquote banking are paid. Which is a con for some people who can’t afford them.
Complicated registration:
Getting an account can be a tough and time taking process. Registration is a bit complicated process requiring mandatory verification.
Large deposit:
Where you can start with a minimum amount but you have to deposit a large amount. Which can be difficult for some people. So it can be a drawback.
Swissquote Vs Other Brokers
Here is a comparison between the Swissquote banking system and other broker banking systems including EXNESS group, AMarkets, IC markets. That will give you an idea about which one is the best forex broker in the world.
Swissquote bank EXNESS Group AMarkets IC marketsTrading platform MT4, MobileTrading, WebTrader, Advanced Trader MT4, MT5, MobileTrading, WebTrader MT4, MT5 MT4, cTrader
Minimum deposit 1000$ 1$ 100$ 200$
Trust Less Less Less Less
Spread 1.4 point 0.1 point 0.1 point 0 point
Deposit bonus No need No need No need No need
Choosing a forex broker for you?
- Few tips that will help you choosing a forex broker for you are:
- Check how old the company is in the market. Old companies provide good support because they have experience and reputation to maintain.
- Which country is linked with your company? Country plays an important role in the working and reliability of a company. So try to look for a company that is registered with some country.
- Check their reviews online and offline. Ask people about their experience and working of the company.
- Check their customer service and support they provide to their customers because you might need their help.
- Every company has different trading conditions so try to check them and choose the company whose conditions you like.
- License of company should be your first priority. Because working with a licensed company is highly secure and protective.
- Check the types of trading the company is offering, amount of minimum deposit, registration fee and every other little detail which might affect you.
