SwissQuote.ch (.com, .eu) Review Visit site

Updated: May 26, 2020
2.374 · 14 REVIEWS
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SwissQuote acquired MigBank.com

Other websites of this company include SwissQuote.com,SwissQuote.eu.

The default language is German but English and other languages are available in the language button at the upper right corner.

About SwissQuote.ch (.com, .eu)

SwissQuote is a forex broker. Swiss Quote offers the MT4 and MT5 forex trading top platform. SwissQuote.ch offers over 90 forex currency pairs, cfds, commodities, stocks, options, futures, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

SwissQuote.ch (.com, .eu)

Broker Details

Minimum Trade Size:0.01
Maximum Leverage:100:1
Minimum to Open Live:$1,000
Established:1996
Address:Swissquote Bank SA Ch. de la Crétaux 33 P.O. Box 319, Gland, 1196, Switzerland
Contact:info@swissquote.eu, +41 44 825 88 88
Regional offices:
Regulators: SFC #, MFSA #, MAS #, FINMA #, DFSA #, FCA #
Prohibited countries:Unknown
Trading platforms:MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
Currencies:(90+)
Cryptocurrencies:(10+) Bitcoin, Litecoin, Ethereum
CFD:(20+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
MAM: Yes
Deposit Methods:Bank Wire, VISA, MasterCard
Withdrawal Methods:Bank Wire, VISA, MasterCard

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2.374 · 14 REVIEWS
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Consumer Reviews

Mumbai, India,
May 4, 2020,
Registered user

No customer support

Service use: Live

Length of use: 3-6 Months

For UAE Client, they have no live chat service and also no one pick phone call and if someone come on live chat then they do not provide any details or don't help on chat, just share support email details, then why they have live chat service.
They have very bad withdrawal policy.
 
Zuerich, Switzerland,
Apr 5, 2020,
Registered user

Only for Pros.

Service use: Live

Length of use: 6-12 Months

This is my second review after half an year with this broker.
I cannot complain on order execution (no scalping) nor on wire transfers and stocks.
The two new major downsides to this broker are
1. Spreads on majors like EURUSD, GBPUSD rise above 30 pips (for newbies at 1vol = $300 between buy and sell instead of the usual $15) from 20:30 to 23:00 GMT every night
2. Margin requirements are being doubled, at best with 8h pre-notice but, usually with an email on the next day. Yes the next day.
So if you are not a seasoned trader don't even bother.

Jan 20, 2020 - 4 Stars My experience so far:
+ they are legit (regulated)
+ I was able to transfer and withdraw cash internationally at a fair price
+ Metatrader did't have an outage for more than 20min (from my experience)
+ All of my orders are executed including pending and SL, TP
+ They don't bombard me with calls to sell me into investing more
+ Accurate major pairs historical data
0 They have small lag but as I don't use them for scalping this is no issue
0 You can store your crypto and buy stocks (if it is your thing)
- Subscription is incredibly bureaucratic (it took me 10 days)
- Costs are high (swaps (triple swap day is Wednesday!!!), speads if you are with $1k account), but remain affordable if you know what you're doing.
- Customer service is super slow and needs reminders (1 week)
- Live chat is useless unless you forgot your password
- Web browser is tricky to go through especially when you want important info such as spreads or account closure.
- Gap on commodities historical data

=4 stars because it works and can access your money but there is room for impovement

I hope this helps

Ciao!!!
  1 trader has found this review helpful
Jack,
London, United Kingdom,
Mar 23, 2020,
Guest

Bad Experience

Service use: Other

Length of use: 0-3 Months

Before I had even finished opening my account I had a very rude phone call from a man trying to get me to finish opening my account or something. Was not feeling comfortable so tried to end the conversation instead was told if I could not deposit £1000 pounds right then I may aswell not open the account, or something along those lines his English wasn't great. Amazing the lack of good customer service...
 
Rome, Italy,
Dec 25, 2019,
Registered user

A joke. 1 star, becuse I had to click on something....ZERO STARS.

Service use: Other

Swissquote is a joke.
If you Believe first impressions is important, and I was on a first date with Swissquote I would run out of the restaurant and never look back.

When I tried to open an account with this Rinky dinky operation , I had to do a video identification, which is fine, but at first it would not connect, then they were to busy.
When I finally got connected ( 2 days later) , I was interacting with someone that spoke English like a 2 year old.
After which I was email personal questions that I would never answer , I reply that I would not answer these ridiculous questions and that I was declining them, last part I think they did not like. I never heard from these wankers.

If this would have been the prelude of things to come I was happy to decline them.

They are a waste of space, not even worth the time to apply
 
Michael,
Slovakia, Slovakia,
May 30, 2018,
Guest

Stay away from this low quality market maker!

Here is my short experience with this broker and it will be short experience, because I am moving my funds back to the other broker I've used since 2011 or 12, without any problems. So here is my experience with Swissquote:

1. Account opening - pain in the ass. Too complicated and long process. First you have to either speak with them on cam chat, or send them your documents by mail. Then pain in the ass starts by trying to actually log in to your account. Their chat shuts down when you swith pages on their website, so the support cannot navigate you throughout this process. I spent 1 hour on the phone with their support before I was finaly able to login to my newly opened account. All this takes days.

2. Funding - they (or their payment vendors) charge high fees, like 2% just for deposit. Only free option is bank wire transfer. You also pay for withdrawals $20 for each withdrawal. So you lost money (and time) with this broker before you even made your first trade.

3. Spreads - Terrible. Double the standard spreads of other popular brokers on all instruments at all times.

4. Live chat support - terrible. The guy there doesn't know much, plus their policy on not helping people over the chat is also terrible. They can't help you with almost anything over the chat. Typical response you get is- send email to support@swissquote.ch and they will be able to help you. Even when you are asking about very basic stuff, like informations about their products. And when you send email, you will wait 3-4 days for response. In my case their response to my email with very specific basic questions about their product was (after 4 days on Thursday) can I contact you on Monday on the phone to discuss your specific needs? I didn't respond to that email, but nobody called on Monday, so my query is unresolved, probably forever, because I will not bother to contact them again.

5. Additional account opening - terrible, bacause you have to wait couple days. What is automatic 3 clicks process with other brokers (once your main account is approved), here it takes 3 days. They actually must approve your additional account.

5. Closing my profitable trade. This made me write this review, because it pissed me off today morning, when I found my profitable position closed. It was closed with profit, but I didn't close it, my TP didn't close it and I didn't plan to close it so early. If they let this position run, my profit (and their loss) would be doubled by now. It's absolutely unacceptable that broker interferes with your profitable positions like this.

There are also other details, that I don't like about this broker, like not being able to open smaller positions on commodity cfd's. So you can choose either to not trade those instruments, or trade, but with overleveraged positions. In MT5 charts, they give you only couple of days of data on futures cfd's. Plus some other details about their website, complicated system and interface, that I don't want to go into detail here.

Bottom line is this - if you are looking for a good retail forex broker, this is definitely not the one in 2018. Do yourself a favour and
  1 trader has found this review helpful
Athens, Greece,
Apr 12, 2018,
Registered user

Probably one of the best and safest brokers in Europe at a retail level

spread on EUR/USD is a standard 2pip its almost fixed except day change and some other instances. They are one of only two brokers i trust because they are actually a bank, as far as i know they offer institutional level accounts from a specific amount and beyond, max leverage up to 400:1 but it drops to 100:1 to amounts more than 20k. I can't recommend them enough honestly spreads might be a little wide but you get your bank account in Switzerland and although it has limitations and you can't receive third-party deposits i still think its a huge deal maybe not if you are a scalper but if you ever dreamed of making millions in forex i guess you should be looking for a similar solution as safety should be above all.
 
Vntrader,
Vietnam, Viet Nam,
Dec 2, 2017,
Guest

Fair broker?

Yesterday I visited some fx forums to see more reviews on Swissquote. Unlike my complaint, some other experienced traders seem to appreciate Swissquote's trading service, such as this link: https://www.forexfactory.com/showthread.php?t=603038. OK. If so, I can find some way to continue using Swissquote's service, such as trading hourly charts with them while trading minute charts with other brokers who offer better spreads. I will give Swissquote 3 stars later if they improve their spreads in standard trading account.

Nov 21, 2017 - 1 Star Today I opened my mt4 with Swissquote again to see if they improved their spreads. But nothing's changed. The spread on eurusd in my a/c is still terribly wide, running from 2.8 to 3.2 all day. I note that Swissquote recently changed the info on spreads on their site. Min. spread on eurusd in standard a/c was changed from 1.4 to 1.7. It's not true again as I have never seen such min. spreads over the last 3 years! I also work with other brokers so I know what it should be. With serious brokers, if they say their spreads start at 1 pip (min. spread) for instance, then you should see this min. spread accounts for at least 10% of every trading day time, and the average spread around 1.4. ActivTrades is an example of the best broker by spread so far. They state on their site their min. spread on eurusd is 0.5 (no commissions) and this spread actually accounts for about 50% of the whole trading day on their mt4, and their average spread is just 0.6. That's why I keep complaining about Swissquote's spreads.

Aug 11, 2017 - 1 Star Swissquote's spreads are going from bad to worse in my a/c. Recently I opened my mt4 with them and noted that the spread on eurusd was even wider than before, running from 2.8 to 3.2 in turns all day no matter in Asia or Europe or US session. I tried to trade a mini lot and my a/c recorded a loss of $3.2 right after executing. I also noted the chart was freezed a bit at the opening and closing but I am not sure. I will feedback more later.


May 6, 2017 - 1 Star Swissquote is dishonest about their spreads, at least with me up to now. I am a small trader and have a trading a/c with them for a few years now. Previously I didn't trade often so I didn't care much about spreads. Recently, I trade more and note that their spreads are much wider than stated. For instance, they state on their website that their target spread on EURUSD is 1.4 pip for standard a/c, but on my real a/c it is 2.8 almost all the times. I complained with them by email attached with screenshot but they didn't reply or correct their spreads. Apparently they think little of small traders although in their emails to clients they always call them 'Valued Customers'. Now that I trade regularly with my new broker and consider my a/c with them as a 'standby'. If they still don't improve their spreads in the future I will close my a/c.
 
Matt Hendshaw,
Manchester, United Kingdom,
Oct 28, 2017,
Guest

Top quality broker

Dont know what all complaining about spreads. I have a prime account and eurusd is like 1.4 no commission.
Yes there is cheaper but this is a premium swiss broker and that comes a slightly higher costs. Unless your scalping its immaterial a 0.5 pip difference.
Brillant relationship managers....online banking.....good service.
Wouldnt change them for anyone.
If you want a serious broker with serious regulation and the best safety of funds this is the spot.
 
John,
Indonesia,
Dec 10, 2016,
Guest

Untrusted, unhonnorable scam broker.

I was one of MIG existing customer.
At first, I confidence to trade forex with them, because my trading account is fully sharia (free swap), even for long trade open position. It's match with trading profile, so I can trade/open position without worry getting involve with any interest.
The old MIG management always honour this free swap facility as their promises to me. I made a few of profitable trading with MIG.

But, +-1 year after MIG become Swissquote, this free swap facility is suddenly removed from my account. Without any previous notice before & when I'm still having a few open (lost) trading positions.
They refused to restore free swap facility on my trading account.

For sharia trader, pls be aware with their (sharia/free swap) commitment.
Untrusted, unhonnorable scam broker.
A trading condition can be changed anytime as they want to, without previous notice before.
I've lost a lot of money with this broker.
  1 trader has found this review helpful
JS,
Kuala Lumpur, Malaysia,
Oct 30, 2016,
Guest

Our Views

Me and all my other business partners started with them quite a while ago. Opening an account was a breeze. Compliance Department took no more than three days to approve our respective applications. Wiring of funds took around twenty one hours and withdrawal of funds took a little more than double the time mentioned. Internal transfers was done within minutes. Relationship managers were extremely helpful at all times. Multi-terminal platform and multi-account manager platform extremely stable. No software issues whatsoever. Seriously, they're quite good and all of us are staying on with them.