Swissquote Review

This Swissquote review was conducted by the team of Topforexbrokers.com for those who want to know about the Swissquote forex bank. By this review you will know how to how to open a Swissquote demo account and how to do Swissquote MT4 download.

Swissquote Review by Topforexbrokers.com

The Swissquote Bank is a Forex brokerage with a market maker model which started operations out of its commercial head office in Lausanne, Switzerland. It is regulated by the Swiss Financial Market Supervisory Authority (FINMA), and it has secondary offices in Dubai, Malta, Zurich and Bern. MIG Bank authoritatively changed its name to Swiss quote Bank.

Swiss-quote Bank Ltd identifies in providing online Forex trading and financial trading services. Its head company, Swissquote Group Holding SA, has been registered on the SIX Swiss Exchange under the ticker symbol “SQN” since 2000. The Swiss quote trading platform is one of a handful forex brokers that workings beyond Switzerland and as they are a licensed and regulated by the Swiss bank, the platform is really trusted among traders in the online forex trading communal. Thus, it is not astonishing to find that this broker is currently serving more than 200,000 official and private clients.

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Swissquote MT4 Download

The provision of the trading platform delivered by Swiss quote to their customers is their special Advanced Trader. The platform was planned to operate perfectly as a web application, desktop application or Mobile Trader hence permitting traders to take advantages of any trading chances that present themselves to the traders.

The Advanced Trader trading platform, Swiss quote also offer their customers the choice of 2 other platforms established by Metaqoutes Software Ltd exactly the Swissquote MT4 and MT5. The Swissquote Metatrader4 is considered as the industry standard trading platform with comprehensive trading features that assistances to improve the trading skill of traders. The MT5 trading platform indicates an upgrade off the Swissquote MT4 with several new features combined into the trading platform. Through all these various trading platforms, traders switching from other dealers must not worry about the trading platforms that they will work with at Swiss quote.

Swissquote Trading Account

There are 5 categories of Swissquote trading account:

  1. a) Standard Account: In this type of account the minimum deposit is some amount from $10,001 – $49,999, with a minimum trade size of 0.1 lots and a maximum leverage of 1:200.
  1. b) Explorer Account: In this type of account the smallest deposit is any amount less than 10,000 dollars. The minimum trade size is 0.1 lots and a Maximum leverage is 1:500.
  1. c) Advanced plus Account: In this type of account the minimum deposit is $100,000 – $249,999, with a lowest trade size of 0.1 lots and a maximum leverage of 1:100.
  1. d) Advanced Account: In the Advanced account the minimum deposit is any amount from $50,000 – $99,999, with a lowest trade size of 0.1 lots and a maximum leverage of 1:100 and a lowest trade size of 0.1 lots.
  1. e) Prime Account: The minimum deposit for this Prime Account type is $250,000, with Leverage size is a maximum of 1:50 and a minimum trade size of 0.1 lots.

The maximum lot size for all trades irrespective of Swissquote trading account is hundred lots. As we can know, operating a Forex account through a Swiss-based forex broker is not reasonable. You must thus be ready for the venture financially beforehand you jump in. It is also worth enlightening that Swiss-quote Bank at the present offers gold-denominated accounts.

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Swissquote Forex Commission & Spreads

At Swissquote there is not any commissions are payable but traders do have to pay an extended spread on the moneys which they are trading in. The spreads which are delivered by Swiss quote are flexible and really competitive as well. For instance, for regular traded pairs like the EUR/USD, the lowest spread begins from 1.6 pips for the top trading account, for the standard trading account is 1.8 pips and for the prime trading account is 1.3 pips. Even the unusual currency pairs like the HKD/JPY, the lowest spreads can be as small as 0.6 pips for the initial trading account.

Customer Support services

For the benefit of their non-English speaking clients, Swiss quote has also made their website accessible in German, Arabic, French, Chinese, Italian, Russian and Spanish. As for the customer support services, they are directed through live chat, telephone or email.

Deposit and Withdrawals

Deposits can only be ready on MIG Bank through the transaction of bank wire and credit cards.

  1. a) Bank wire: Bank Wire transfer orders have to be acquired from the customer service desk.
  1. b) Credit card: The only acceptable cards are those of MasterCard and VISA. Using the currency majors Transactions can be The Swiss Bankers Travel debit card can be used to withdraw moneys from a MIG Bank account.

Pros

  • Reputable International Broker
  • Competitive Spreads
  • Skilled Broker with wealth of experiences behind them
  • Trusted and Secured Broker
  • Wide Range of Products
  • Choices of Trading Platforms

Cons

  • High Minimum Deposit Requirement
  • Lack of Promotional Offers
  • Market Maker Broker
  • Does not accept U.S traders

Swissquote Bank Review Conclusion

Swissquote Bank has found a technique to appeal to its wide-ranging customer base by forming secondary companies in Europe and other just, in Asia, to publicize its service module to fit the yearnings of its customers in those areas. Traders can thus choice the subsidiary of choice which matches their trading necessities and specifications.

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