The purpose of this article is to understand the details of this company, from commissions and trading platform to trading tools. At the end of the review you will decide for yourself whether this company is suitable for trading or not.
European broker more than 20 years existing on the financial market was founded in Luxembourg and has an office in London. Its main assets for trading are currencies and CFDs. Regulated and licensed by CSSF and FCA, all supervisions are supervised by Financial Compliance Office. In addition to Forex and CFDs, the company offers pips, commodities and digital currencies. The leverage is not big and amounts to 1: 30. This is due to the fact that the broker is registered in the European zone.
The company has many options that will appeal to people with different levels of experience, such as instructions that help you create your own strategies or tools with which you can receive trading signals. This company has a lot of weight at the moment the client base is about 390000 people
The level of client’s expenses directly depends on the type of asset on which the trade takes place. In general, it should be noted that the commission is included in the spread. For example, it happens at trading currency pairs with contacts on the price difference. Standard spreads start from 0.8 for some pairs on the Forex market when using the Prime account. In general, the premium line of shields is popular enough for traders who prefer to trade on these two markets. The difference in us-sales can reach 60% when comparing the classic accounts from the premium line. For other assets, in particular ETF trades, the commission starts at 0.1 percent. When working with funds, the commission level may be halved if the company advises to select such a fund.
It often happens when brokers try to hide client’s commission costs, this is not the case, the company Swissquote openly declares that for example the company charges a fee for maintenance of the account in case of absence of any trading operations on the account. If there is no activity for over 2 years Be prepared to pay 100 euros per month for inactivity. The company does not charge interest on withdrawals from the trading account, but be prepared for the fact that the payment service will charge you interest. Be aware that this article specifies the fees which were relevant at the time the article was written.
The company offers a third-party MetaTrader 4 trading platform that is easy to use. The platforms have all the necessary built-in tools for trading in the currency markets in other words, margin trading CFDs. Probably the name MetaTrader will not be unfamiliar to anyone who is somehow connected with the financial markets.
Moreover, Swissquote has a proprietary platform that is mainly used for trading other assets. Through it, it is possible to work on hundreds of thousands of positions. The interface is fully customizable, contains a lot of features that will be useful to the trader. For example, it’s enough to type in a search line a particular instrument, at least a few of its letters. You can create settings for watch lists and this platform also has a program part from Trading Central. This software helps you to be aware of the prices in the current time. In addition, you can use all the technical indicators to make analyses and build charts of different types.
Standard support is offered through live chat, email or a hotline. There is also available such communication channel as social networks, it is definitely a convenient and fast way to get help. The company strongly recommends that before asking a question to the operator to see if the question is not already in the list of questions and answers.
The strength of the company is also the training of clients. There is a big database of video and text materials, you can see the information sorted by groups, watch the videos it’s all absolutely free. Also, you will be taught how to minimize your risks, which is generally important for independent trading. There is also a full-fledged guide which will tell you how to make your first steps to the financial market.