Swissquote review
Swissquote Group Holding Ltd is a Swiss financial group built around Swissquote Bank Ltd, which holds a full Swiss banking licence from FINMA. This is a material distinction from most names in this category: Swissquote is a regulated deposit-taking bank first, and a forex/CFD, equities and crypto trading provider second. The group has been listed on the SIX Swiss Exchange under ticker SQN since 2000 and reported CHF 88.7 billion in client assets across roughly 750,000 accounts at end-2025. Beyond the Swiss bank, Swissquote Bank Europe SA (Luxembourg, CSSF/ECB-supervised) and Swissquote Ltd (UK, FCA-regulated) extend the group into the EU and UK, alongside licences in Singapore (MAS) and Hong Kong (SFC). Forex/CFD pricing and account structure vary meaningfully by which of these entities a client is onboarded to.
Swissquote key facts
- Website: www.swissquote.com
- Category: Licensed Swiss bank / multi-asset broker
- Founded: 1996 (as Swissquote; predecessor Marvel Communication SA founded 1990)
- Headquarters: Gland, Switzerland
- Public status: SIX Swiss Exchange listed since 2000, ticker SQN; joined the SMI MID index September 2025
- Regulation: FINMA (Swiss banking licence), CSSF/ECB (Luxembourg), FCA (UK), plus MAS (Singapore) and SFC (Hong Kong)
- Platforms: MetaTrader 4/5, proprietary CFXD platform, eTrading client portal, mobile apps
- Markets: Stocks, ETFs, bonds, futures, 80+ forex pairs, CFDs, crypto (SQX exchange)
- Client assets: CHF 88.7 billion, ~750,000 accounts (end-2025)
- CEO: Marc Bürki
- FYI Score: 92.3/100 (ranked #17 of the 136 CFD brokers we track)
Regulation & licences
- Swissquote Bank Ltd holds a full Swiss banking licence and is supervised by FINMA, distinguishing the group from CFD brokers that are not licensed banks.
- Swissquote Bank Europe SA (formerly Internaxx Bank, acquired 2018) is based in Luxembourg and supervised by the CSSF and the European Central Bank, giving it MiFID passporting into the EU.
- Swissquote Ltd in the UK is regulated by the FCA; the group also holds licences from Singapore's MAS and Hong Kong's SFC, giving it five Tier-1 regulatory relationships in total.
- Because pricing, leverage and protections differ by entity, which Swissquote entity a client is onboarded to (Swiss, Luxembourg or UK) materially changes the terms on offer.
Spreads & fees
- Forex/CFD spreads vary by entity and account tier: UK Standard from around 1.3 pips on EUR/USD, UK Prime from around 0.6 pips; Luxembourg roughly 0.8-1.5 pips; Switzerland roughly 1.1-1.7 pips.
- An Elite/Prime commission tier charges around $5 per round-turn lot in exchange for tighter raw spreads.
- Crypto trading fees run around 1%, tiered down toward 0.5% for larger trade sizes.
- Custody fees, quarterly account fees and withdrawal fees apply to private banking-style accounts, on top of trading spreads and swap charges, reflecting the bank's broader wealth-management fee model.
Platforms & tools
- CFXD: Swissquote's proprietary web trading platform for forex/CFDs, with TradingView charting built in.
- MetaTrader 4 and 5 are fully supported, including a Master Edition add-on package, across desktop and mobile.
- eTrading: the separate client portal used for stocks, ETFs, bonds, futures and crypto holdings, distinct from the forex/CFD platforms (eForex/CFXD).
- A previous desktop platform, Advanced Trader, has been discontinued; forex and eTrading assets currently sit on separate platforms rather than one unified interface.
Markets & instruments
- eForex/CFXD offers 472 forex and CFD symbols, including 80+ currency pairs.
- eTrading covers global stocks, ETFs, bonds and futures, alongside 52 crypto assets.
- SQX, Swissquote's in-house crypto exchange launched in 2022, adds spot crypto trading and staking.
- Life insurance and Mastercard debit card products (with Apple Pay support) extend the offering beyond pure trading into retail banking.
Account types
- Tiered forex/CFD accounts (Standard/Premium through Prime/Elite), with minimum deposits reported from roughly $1,000 up to $50,000 depending on tier and entity.
- Separate account structures for private clients, professionals/intermediaries, institutional clients and family offices.
- Swiss retail clients trading CFDs are subject to the standard high-risk disclosure: Swissquote states 68.22% of retail CFD accounts lost money over a recent 12-month period.
- PEP (Politically Exposed Person) related fees can apply to certain client categories, consistent with Swissquote's status as a regulated bank rather than a pure brokerage.
Markets
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Platforms
MetaTrader 4, MetaTrader 5, CFXD (proprietary web platform), eTrading client portal, SQX crypto exchange
Who Swissquote is for
Swissquote suits clients who want banking-grade custody and a single group covering stocks, crypto, forex/CFDs and retail banking, more than active traders chasing the tightest possible spreads. Its higher relative CFD spreads and split platforms are a real cost against pure-play discount brokers.
Pros
- A genuine Swiss banking licence (FINMA) underpins the group, a materially stronger protection profile than non-bank CFD brokers.
- Five Tier-1 regulatory relationships across Switzerland, Luxembourg, the UK, Singapore and Hong Kong.
- SIX Swiss Exchange listing since 2000 means public financial disclosure (CHF 724.2m operating income, CHF 366.4m net income for 2025).
- Very wide asset coverage in one group: stocks, bonds, futures, forex/CFDs, crypto (including its own SQX exchange) and retail banking products.
Cons
- Forex/CFD spreads are wider than low-cost specialist brokers (from ~1.1-1.7 pips on EUR/USD depending on entity), reflecting the bank's broader-service fee model rather than a pure discount-CFD positioning.
- Trading is split across separate platforms: eTrading for stocks/bonds/crypto and CFXD/eForex for forex and CFDs, rather than one unified interface.
- Fee structure is genuinely layered: spreads, swap charges, quarterly account fees, custody fees and withdrawal fees can all apply depending on account type.
- 68.22% of retail clients lost money trading CFDs with Swissquote over a recent 12-month period, per the firm's own risk disclosure, a standard industry-wide caveat but a material one.
Swissquote FAQ
Is Swissquote a bank or a broker?
Both, and that is its defining feature. Swissquote Bank Ltd holds a full banking licence from FINMA in Switzerland, so it is a regulated bank offering deposit and custody protections that a typical CFD-only broker does not have. It also operates forex/CFD, equities and crypto trading through the same group.
Is Swissquote regulated?
Yes, across several entities. Swissquote Bank Ltd is supervised by FINMA in Switzerland. Swissquote Bank Europe SA is supervised in Luxembourg by the CSSF and the European Central Bank. Swissquote Ltd in the UK is FCA-regulated. The group also holds licences from Singapore's MAS and Hong Kong's SFC.
Is Swissquote publicly traded?
Yes. Swissquote Group Holding Ltd has been listed on the SIX Swiss Exchange under ticker SQN since 2000, and joined the SMI MID index in September 2025. As a listed company its financial results are publicly disclosed.
What does it cost to trade forex/CFDs with Swissquote?
Pricing depends on which entity and account tier a client is onboarded to: reported EUR/USD spreads range from around 0.6 pips (UK Prime) up to around 1.7 pips (Switzerland, standard tier), plus a roughly $5 per-lot commission at the tightest tiers. Beyond spreads, Swissquote's bank-style fee model can add custody, quarterly account and withdrawal fees depending on account type.
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