Best Forex Brokers in Switzerland for 2024 (Top10) - Online Forex Rating

　　Welcome to our comprehensive guide to the “Best Forex Brokers in Switzerland for 2024”. Whether you are a seasoned trader or just getting started, choosing the right broker can greatly influence your success in the exciting world of forex trading. Switzerland, with its robust economy and stable currency, is an excellent choice for both domestic and international traders. This article will help you narrow down your options, providing insightful details about some of the most reputable brokers to consider.

Best Forex Brokers in Switzerland

Best for beginners, user-friendly platform

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Best for low spreads & commission

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Best for professional traders, wide range of markets

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Comparison of Best Forex Brokers in Switzerland

Forex Broker

License

Minimum Spread

Maximum Leverage

Minimum Deposit

Open account

Details

Compare

8.49

Domestic Regulation

1:200

$250

8.41

Regulated

0.0

1:500

8.24

Regulated

0.4

1:30/1:100

$2,000

8.45

Domestic Regulation

0.0

1:500

$100

8.92

Regulated

0.0

1:500

$200

6.73

Regulated

0.6

1:1000

$1,000

7.41

Regulated

0.3

1:200

N/A

8.87

Regulated

0.0

1:500

$100

7.97

Regulated

0.0

1:500

$200

7.53

Regulated

0.75

1:30

$10

Open account

Details

+ Compare

Best Forex Brokers in Switzerland Reviewed

① IG

IG is a UK-based Forex broker known for its user-friendly platform and comprehensive education resources, making it a good option for beginners.

	⭐⭐⭐⭐⭐
Account Minimum	0
Tradable Instruments	17,000+, forex, indices, cryptocurrencies, shares, commodities, ETFs, options, interest rates, bonds
Demo Account	Yes
Spreads	Average 1 pip (EUR/USD)
Trading Platforms	Online trading platform, Mobile trading app, Progressive web app, ProRealTime, MT4, L2Dealer
Deposits & Withdrawals	Credit/debit cards (MasterCard/Visa), bank transfer
Customer Support	24h/day, except from 6 am to 4 pm on Saturday (UTC+8)-live chat, phone, email

Pros

√ No account minimum

√ Wide range of market offerings

√ Extensive educational resources

Cons

× MT5 is not supported

× Limited payment options

② Fusion Markets

Fusion Markets is an Australian broker known for its extremely low-cost entry point and easy-to-use platforms.

	⭐⭐⭐⭐⭐
Account Minimum	$0
Tradable Instruments	250+, forex, metals, indices, energy & soft commodities, cryptocurrency, US Share CFDs
Demo Account	Yes
Spreads & Commissions	From 0.9 pips (Classic account) & $2.25 commission per side
Trading Platforms	MT4, MT5, cTrader
Copy Trading	Yes
Deposits & Withdrawals	Free deposits, Visa, MasterCard, PayPal, Skrill, Neteller, Bank Transfer, Sticpay, Perfect Money, Fasapay, etc.
Customer Support	Live chat, phone, email

Pros

√ Low-cost trading

√ User-friendly platforms

Cons

× Limited analysis tools

× Not as many educational resources as some competitors

③ Saxo

Saxo Bank is a Danish-based Forex broker offering a robust and user-friendly platform. They have a reputation for excellent customer service and extensive market research tools.

	⭐⭐⭐⭐⭐
Account Minimum	HKD10,000
Tradable Instruments	Stcoks, ETFs, bonds, mutual funds, IP0, forex, futures, forex options, listed options
Demo Account	Yes
Spreads & Commissions	Around 0.4 pips (EUR/USD) & commission-free (forex)
Trading Platforms	SaxoInvestor, SaxoTraderGO, SaxoTraderPRO
Deposits & Withdrawals	Free - Visa, MasterCard, Visa Debit, Visa Electron, MasterCard Debit, Maestro (for UK residents), Visa Dankort (for Denmark residents), Carte Bleue (for France residents)
Customer Support	24/5 phone, email

Pros

√ Wide-ranging product portfolio

√ Excellent customer service

Cons

× Higher minimum deposit

× Limited educational resources for beginners

④ Forex.com

Forex.com provides a mix of interesting currency pairs, a reliable trading platform, and useful educational materials, delivering a strong package for forex traders.

	⭐⭐⭐⭐⭐
Account Minimum	$100
Tradable Instruments	currency pairs, precious metals, energies, indices, bonds, cryptocurrencies and equities
Demo Account	Yes
Spreads	From 0.018 pips (EUR/USD)
Trading Platforms	Forex.com, MT5
Deposits & Withdrawals	Free - cards (Visa, Mastercard, Maestro), bank wire transfer, Skrill and Neteller
Customer Support	24h live chat, phone, email
Bonus	Up to $5,000 (New Account Opening)

Pros

√ Wide range of market offerings

√ Good trading platforms

Cons

× MT4 is not supported

× Limited methods for deposit and withdrawal

⑤ IC Markets

IC Markets is an Australian-based Forex broker renowned for its transparent pricing structure and robust platform, making it an excellent option for seasoned traders.

	⭐⭐⭐⭐⭐
Account Minimum	$200
Tradable Instruments	1780+, forex pairs, commodities, stocks, cryptocurrencies, indices, bonds, futures
Demo Account	Yes
Spreads & Commissions	From 0.6 pips & no commission (Std)
Trading Platforms	MT4, MT5, cTrader
Deposits & Withdrawals	Credit/debit cards, PayPal, Neteller, Skrill, UnionPay, Wire Transfer, Bpay, Broker to Broker, POLI, Thai/Vietnamese Internet Banking, Rapidpay, Klarna
Customer Support	24/7 live chat, phone, email

Pros

√ Excellent pricing

√ Popular trading platforms including MT4, MT5 and cTrader are all available

Cons

× Higher minimum deposit than the average

⑥ Swissquote

Swissquote is a Swiss-based Forex broker providing traders with reliable and efficient trading environments.

	⭐⭐⭐⭐
Account Minimum	＄1000
Tradable Instruments	130+ CFDs on currency pairs, precious metals, cryptos, stocks, commodities, indices, bonds
Demo Account	Yes
Spreads & Commissions	From 1.3 pips & commission-free (Premium account)
Trading Platforms	Advanced Trader, MT4, MT5
Deposits & Withdrawals	Debit card, bank wire transfer
Customer Support	Phone, email

Pros

√ Reliable trading platforms

√ Ingest selection of tradable assets

Cons

× Higher trading fees

× Complex fee structure

⑦ Dukascopy

Dukascopy is a Swiss forex broker catering to high net worth individuals and professional traders, offering a wide array of research tools and deep liquidity.

	⭐⭐⭐⭐
Account Minimum	N/A
Tradable Instruments	Forex, indexes, metals, stocks, ETFs, binaries, bonds, cryptocurrencies
Demo Account	Yes
Spreads & Commissions	Average around 0.3 pips & a default commission rate of 0.7 pips
Trading Platforms	JForex4, MT4, Web Binary Trader
Deposits & Withdrawals	Wire transfers, payment cards (Maestro, MasterCard, Visa), skrill, Neteller, and cryptocurrencies (Bitcoin, Ethereum, Tether)
Customer Support	24/7 live chat, phone, email
Bonus	100% welcome bonus

Pros

√ Low-cost trading

√ Large range of research tools

Cons

× Non-transparent minimum deposit

× Not ideal for beginners

⑧ FP Markets

FP Markets is an ASIC-regulated broker with more than 15 years of experience in the industry. It offers strong execution and excellent pricing.

	⭐⭐⭐⭐
Account Minimum	$100 AUD or equivalent
Tradable Instruments	Forex, stocks, index, commodities, bonds, precious metals, cryptocurrencies
Demo Account	Yes
Islamic Account	Yes
Spreads & Commissions	From 1.0 pips & commission-free (Std)
Trading Platforms	MT4, MT5, WebTrader, Mobile App
Deposits & Withdrawals	Free deposits & fees for withdrawals- China UnionPay, crypto payments, cryptocurrency solutions, credit/debit cards, bank wire transfers, Neteller, Skrill, Broker-to-broker
Customer Support	24/7 live chat, phone, email
Bonus	Yes

Pros

√ Great pricing on Forex and share trading

√ Strong customer service

Cons

× Not competitive minimum deposit

⑨ Pepperstone

Pepperstone is an Australian FX broker known for its diverse selection of third-party platforms.

	⭐⭐⭐⭐
Account Minimum	$200
Execution Speed	30ms
Tradable Instruments	1000+, Forex, Cryptocurrencies, Shares, ETFs, Indices, Commodities
Demo Account	Yes
Spreads & Commissions	Average 1.1 pips & commission-free (Std)
Trading Platforms	Trading View, MT4, MT5, cTrader
Deposits & Withdrawals	Visa/Mastercard, POLi, Bank transfer, BPay, PayPal, Neteller, Skrill, and Union Pay
Inactivity Fee	No
Customer Support	24/5 live chat, phone, email

Pros

√ High execution speed

√ Large selection of tradable instruments

Cons

× Limited research and educational resources

× No proprietary platform

⑩ eToro

eToro is an Israel-based social trading platform. Its copy-trading features make trading accessible to beginners.

	⭐⭐⭐⭐
Account Minimum	$10
Tradable Instruments	3000+, Stocks, Cryptocurrencies, Currencies, Commodities, ETFs
Demo Account	Yes
Spreads & Commissions	Around 3 pips (EUR/USD) & commission-free
Trading Platforms	MT4, eToro proprietary platform
Deposits & Withdrawals	＄5 withdrawal fee for ＄30 withdrawal amount, eToro Money, credit/debit cards, PayPal, Neteller, Skrill, Rapid transfer, iDEAL, Klarna / Sofort Banking, bank transfer, Online Banking – Trustly (EU region), Przelewy 24
Customer Support	24/5 live chat, email

Pros

√ Excellent social trading features

√ Easy-to-use platform.

Cons

× High forex fees

× Limited technical research tools

Forex Brokers in Switzerland FAQs

Is Forex Trading Legal and Safe in Switzerland?

　　Yes, Forex trading is legal and safe in Switzerland as long as you are trading with a broker regulated by the Swiss Financial Market Supervisory Authority (FINMA).

　　FINMA is tasked with the responsibility of regulating and supervising banks, securities dealers, insurance companies, and other financial intermediaries in Switzerland. Its main aim is to protect investors, depositors, and general financial market participants by ensuring that the financial markets function smoothly. To this end, all Forex brokers in Switzerland must be licensed and regulated by the FINMA.

Can I Make Money with Forex Trading in Switzerland?

　　Yes, you can make money through Forex trading in Switzerland. Forex trading involves buying and selling of currency pairs based on the market's volatility, and traders can profit from these fluctuations.

　　However, note that Forex trading carries significant risks and is not suitable for everyone. It requires a deep understanding of the foreign exchange market, using effective trading strategies, risk management, and constant market analysis.

How to Trade Forex in Switzerland?

　　Educate Yourself: Learn about the basics of Forex trading, trading strategies, risk management and more. You can find many resources online, including free courses, blogs, webinars, and eBooks.

　　Choose a Reliable Forex Broker: Look for a broker regulated by the Swiss Financial Market Supervisory Authority (FINMA). Check the broker's reputation, their trading platform, account types, fees, and customer service.

　　Open a Trading Account: Once you've chosen a broker, you'll need to open a trading account. This usually involves submitting identification documents and proof of residence for account verification.

　　Deposit Funds: After your account is verified, deposit funds into your account using the payment methods offered by your broker. The broker might offer multiple options such as wire transfer, credit/debit card, or e-wallets.

　　Try Demo Trading: Most brokers offer a demo or practice account where you can practice trading using virtual money. It's a great way to familiarize yourself with the trading platform and test your trading strategies.

　　Start Trading: Now that you're ready, you can start trading on the live market. Keep track of market news and analysis, apply your strategies and always manage your risk responsibly.

How do I Choose the Best Swiss Forex Broker?

　　Regulation: Ensure the broker is regulated by the Swiss Financial Market Supervisory Authority (FINMA). This ensures the broker adheres to high standards of conduct for the safety and security of their clients' funds.

　　Currency Pairs Offered: Depending on your trading strategy, you may want to trade specific currency pairs. Check the broker offers the pairs you are interested in.

　　Account Types: Check what types of accounts the broker offers (e.g. standard, mini, managed, VIP) and the benefits of each. Most importantly, ensure they offer an account type that suits your level of experience and investment style.

　　Fees and Charges: Consider the costs involved with trading, including spreads, commission fees, and any fees for deposits or withdrawals. Remember that lower fees arent everything – it's also important that the broker is reputable and reliable.

　　Trading Platform: Check the trading platform(s) the broker offers. Some popular ones include MetaTrader 4, MetaTrader 5, or the broker's proprietary platform. Ensure the platform is user-friendly, has a range of analysis tools, and allows for seamless trading.

　　Deposit and Withdrawal Options: A good broker should process payments swiftly and offer a variety of deposit and withdrawal methods.

　　Customer Service: Useful customer support can be invaluable, particularly for newer traders. Look for a broker that offers customer service in your native language and on channels that are convenient for you (like email, phone, or live chat).

　　Education and Resources: Especially for beginners, brokers that offer educational resources such as webinars, ebooks, video tutorials, and access to market analysis can be very helpful.

　　Also, consider testing different platforms via demo accounts to find the one you are most comfortable with.

Which Forex Broker is Best for Beginners in Switzerland?

　　For beginners in Switzerland, IG is one of the best Forex brokers to start with.

　　User-friendly platform: IG offers a platform that's intuitive and easy to navigate – an important aspect for new traders still getting to grips with Forex trading.

　　Educational Materials: IG provides quality educational resources. This includes webinars, video guides, and articles about forex trading, making it a great choice for beginner traders who are still learning about the market.

　　Practice account: IG offers a demo account where beginners can practice their trading strategies using virtual funds, an invaluable tool for those new to forex trading.

　　Customer support: IG has a reputation for its strong customer service, including a 24-hour hotline, which can be very helpful for beginners.

What is the Best Currency Pair for Swiss Clients?

　　The choice of the best currency pair for a Swiss forex trader is subjective and depends on various factors including, the trader's familiarity with the currency pair, trading strategy, the pair's volatility, trading hours, and more.

　　However, the Swiss Franc (CHF) paired with other major currencies like the Euro (EUR), U.S. Dollar (USD), British Pound (GBP), and Japanese Yen (JPY) are good options. These pairs usually have the highest liquidity, the tightest spreads, and the most information available, which can make trading these pairs more predictable than others.

　　The EUR/CHF and USD/CHF are particularly popular pairs among Swiss traders due to their economic ties and high volatility respectively, which can create ample trading opportunities.

What are the Best Forex Trading Hours in Switzerland?

　　The best Forex trading hours in Switzerland typically revolve around the major markets opening hours, which are known for their high liquidity and volatility due to increased trading activity. The Forex market operates 24 hours a day five days a week, but the market is most active when these major markets are open:

　　Tokyo/Sydney sessions: From 2:00 a.m. to 10:00 a.m. Swiss time.

　　London session: From 9:00 a.m. to 6:00 p.m. Swiss time.

　　New York session: From 2:00 p.m. to 11:00 p.m. Swiss time.

　　The most volatile period is during the overlap of the European/London session and the North American/New York session (from about 2:00 p.m. to 6:00 p.m. Swiss time), where the highest volume of trades occurs. This can lead to potential opportunities, but also higher risk and stronger price movements.

　　Again, the 'best' trading time depends on many factors, like your personal schedule, trading strategy, the currency pairs you're trading, etc.

Do I Need to Pay Taxes on Forex Trading in Switzerland?

　　In Switzerland, as with many other countries, profits from Forex trading are generally considered capital gains and are subject to taxation. The specifics of how much you are required to pay will depend on individual circumstances including your total income and your location within Switzerland, as different cantons may have slightly different tax rates.

　　However, tax laws are complex and can change, so it's always a good idea to consult with a tax professional or financial adviser who is familiar with Swiss taxation laws to understand your obligations towards taxes on Forex trading profits. Another useful resource is the Swiss Federal Tax Administration's website.

Final Thoughts

　　We hope that this guide to the Best Forex Brokers in Switzerland for 2024 has been helpful and informative. Remember, choosing a broker is an important decision and should be based on your individual trading needs and objectives. While this list includes some of the top contenders, it is important to do your own research. Here's to a prosperous and successful year of trading in 2024, may the odds be ever in your favor.

Disclaimer

　　Trading Forex (foreign exchange) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, risk appetite, and the possibility of incurring losses. There is a possibility that you may sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.