REVIEW - Swissquote CFD Broker

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Overview

Swissquote is a forex trading site that operates under Swissquote which also offers banking services. The forex trader was established in the year 1996 and with the many years in the business, it has created a strong name for itself in the forex sector.

Trading Accounts

For a trader to be able to execute various trades on the many trading instruments such as currencies, indices commodities, and CFDs, one will require an account. Swissquote has many different account types under its wings to help you with this. These account types are the demo account, the standard account, and the corporate account.

Swissquote Demo Account

The demo account is a specially designed account that is meant for newbies with little or no information on the forex trading concept. This account type will let on learn about forex trading as well as give them demonstrations using virtual funds to execute trades.

Standard Account

The Swissquote standard account is the basic account type. This account type is suitable for experienced traders as well as novice traders. Among the features of this account type are:

• Minimum position size of 0.01
• Instant execution of trades
• Has a variety of trading instruments from CFDs currencies and metals among others
• No commission is charged at all on this account type
• Locked margin level is at 1%

Corporate Account

The corporate account is an account type that is run by companies or corporations with an interest in forex trading. This account can also be called the professional account and here are some of its many features:

• No commissions are charged at all in his account type
• The currency of use is the United States dollar, the euro, the Japanese yen, and the Turkish lira among any others
• Minimum deposit is 1000 units of your respective base currency
• Stop out at 0.5%
• Floating spreads

Security of Funds

The company, Swissquote as has been earlier indicated is part of the Swissquote companies that also have interests in the banking sector. The forex company was established in 1996 in Switzerland here it still has its headquarters in Gland. Over two decades later since its conception, it has managed to grow in leaps and bounds to become one of the best forex traders around.

It has managed to penetrate the global forex market very efficiently with its presence being all over the globe. It has its offices in Zurich, Bern, London, Dubai, Hong Kong, and Malta. These offices help in the coordination of its activities in their respective regions. This worldwide presence has compelled Swissquote to make necessary changes in making their website versatile by incorporating various languages as well as accepting various currency units. The languages in clued English, Swiss, Dutch Chinese and Arabic with currency units such as the Yuan, the Australian dollar, the united states dollar, the Swiss franc and Turkish lira among many.

In a bid to make its services stand out they have invested in the best workforce. The workforce is made up of qualified and dedicated employees who will ensure that each client's respective needs has been given the audience and it has been solved to the client's satisfaction. They may also occasionally offer advice as well as tips on how to trade where the need arises.

Swissquote is a credible and legitimate company that is licensed to operate in all the areas it runs its operation. It has met all the regulations set for it in order to be on the right died of the law. Among the notable licenses in its possession include:

A clean bill that allows its operation Switzerland by the Swiss financial market supervisory authority (FINMA)

In keeping up with the set policies, it has formulated measures that will ensure the safety of clients’ funds. These measures are:

• Use of segregated bank accounts to separate clients funds from their company operating funds.
• Negative balance protection.
• Putting clients funds in entrusted and credible banks

Trading Conditions

Commissions

No commissions are charged at all on Swissquote.

Minimum Initial Deposit

The minimum initial deposit stands at $1000 which will serve as your base capital for trade executions.

Margins

The margin call is at 0.5% while the locked margin level is at 1%.

Trading Platforms

To improve the clients’ trading experience, Swissquote has invested in the topnotch trading platforms that come with various features. These trading platforms are as follows.

Advanced Trader

The advanced trader platform is a platform that has been designed for professional traders and has the following features:

• Customizable trading interface
• Has charts that help in trading analysis
• Pattern detection that is good in analytics and will provide a clear picture on lucrative trades
• Combines the stop order with the limit order
• Has both the web and mobile platforms
• Allows for hedging upon request
• Meta Trader 4 And 5
• The Meta trader platforms are among the best when it comes to trading and come with a lot of lucrative features under them. Swissquote uses both versions and the following are their features.
• Great analysis and charting tools.
• Allows for automated trading.
• Has two type of orders that you can pick from, instant and market execution.
• It has both the web and mobile platforms.
• Allows for hedging

Promotions

The following are the promotions that are currently running at Swissquote's site:

• CHF100 trading credit to you and a friend that you have referred.

Withdrawals and Deposits

Depositing of funds to your account is very easy and it accepts payments from three methods which are e-banking, credit card, and China UnionPay. On credit cards, you can use your visa card or MasterCard to transact.

Withdrawals are also easy and you will simply request for the funds to a chosen payment mode. There are some little payment fees that you may incur while withdrawing and is dependent on factors such as the amount and also the currency.

Summary

A look at Swissquote’s customer comments and reviews will give you a perfect picture of this specific broker. This is a very credible forex broker that I would strongly recommend to anyone who wants to try his or her hand in forex trading. Their services are great in customer care which enhances the overall customer experience.

Reprinted from Topbrokers, the copyright all reserved by the original author.