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ETX , Swissquote Broker Comparison

Do you want to know which is the better broker between ETX and Swissquote ?

In the table below, you can compare the features of ETX , Swissquote side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
ETX
2
Suspicious Clone
Under guarantee
5-10 years
FCA
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
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Swissquote
6.73
Regulated
Under guarantee
10-15 years
FCA,MFSA,FINMA,DFSA
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
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--
--
--
--
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professional ,standard,prime,premium
custom
volume based
--
--
0.00
--
--
--

Swissquote BrokersRelevant information

ETX 、 Swissquote BrokersRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of etx-capital, swissquote lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

etx-capital

Note: Oval X (ETX)s services have now been discontinued.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

Oval X Review Summary in 10 Points
Founded 1965
Registered Country/Region United Kingdom
Regulation FCA (suspicious clone)
Market Instruments Forex, indices, stocks, CFDs, commodities
Demo Account N/A
Leverage 1:200
EUR/USD Spread 0.6 pips
Trading Platforms MT4, Oval X Trader Pro
Minimum deposit $100
Customer Support Phone, email

What is Oval X?

ETX have completed a re-branding exercise and it is called “Oval X”. Oval X is a trading brand of Monecor (London) Limited, company registration number 00851820. As a member firm of the London Stock Exchange, Monecor (London) Limited is regulated by the Financial Conduct Authority (Financial Services Registration Number. 124721), however, it is a suspicious clone.

Oval Xs home page

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros Cons
• Wide range of trading instruments • Suspicious clone FCA license
• Flexible leverage • Reports of unable to withdraw and scams
• Tight spreads • Withdrawal fees applied after 5 withdrawals
• MT4 trading platform available
• Multiple payment methods
• Rich educational resources

Oval X Alternative Brokers

    There are many alternative brokers to Oval X depending on the specific needs and preferences of the trader. Some popular options include:

    • Z.com Trade - a reputable online broker with a user-friendly platform and competitive trading conditions, making it a good choice for traders of all experience levels.

    • AETOS - a trusted broker known for its strong regulatory compliance, extensive product offerings, and comprehensive trading tools, making it a reliable option for traders looking for a diverse range of investment opportunities.

    • Hirose Financial - offers a reliable trading environment, competitive spreads, and a wide range of trading instruments, making it a recommended choice for traders seeking a trusted broker with a solid track record.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Oval X Safe or Scam?

Based on the information available, Oval X is an unregulated broker with a suspicious Financial Conduct Authority (FCA, License No. 124721) license. Furthermore, there are reports of withdrawal issues and scams associated with the company. These factors raise significant concerns about the safety and legitimacy of Oval X as a trading platform.

Traders are advised to exercise caution and conduct thorough research before engaging with unregulated brokers, as the risks of financial loss and fraudulent activities are higher in such cases. It is recommended to choose regulated brokers that adhere to industry standards and provide a higher level of investor protection.

Market Instruments

Oval X offers investors a diverse range of tradeable financial instruments across various markets. Traders can access a wide selection of currency pairs in the Forex market, allowing them to participate in global currency trading. Additionally, Oval X provides access to popular stock indices, enabling traders to speculate on the performance of major equity markets.

Market Instruments

The platform also offers a range of individual stocks, giving investors the opportunity to trade shares of well-known companies. Furthermore, Oval X provides access to Contracts for Difference (CFDs), allowing traders to speculate on the price movements of various underlying assets such as commodities and more. With this comprehensive offering of market instruments, Oval X aims to cater to the diverse trading preferences of its clients.

Accounts

Oval X provides two distinct account types that align with the trading platforms it offers. The first account type is the Trader Pro account, which is designed to cater to the needs of traders using Oval X's proprietary trading platform. The second account type is the MT4 account, specifically tailored for traders who prefer the popular MetaTrader4 platform.

One notable advantage of Oval X's account offerings is the relatively low minimum initial deposit requirement of $100. This lower entry barrier makes Oval X an attractive choice for new beginners in the trading industry who may have limited initial capital.

Leverage

Oval X offers traders different leverage options depending on the financial instruments they choose to trade. For currency pairs, Oval X provides leverage of up to 1:200, allowing traders to amplify their trading positions in the foreign exchange market. When it comes to indices, the leverage offered is 1:20, providing traders with increased exposure to a basket of stocks representing a specific market. For individual stocks, Oval X offers leverage of 1:5, enabling traders to potentially magnify their gains or losses based on their trading decisions.

In the case of precious metals like gold, Oval X provides leverage of 1:20, allowing traders to capitalize on price movements in this popular commodity. For silver, copper, and platinum, Oval X offers leverage of 1:10, giving traders the opportunity to participate in the market with enhanced trading power. It's important to note that while leverage can amplify potential profits, it also increases the risk of losses, and traders should exercise caution and proper risk management strategies when utilizing leverage in their trading activities.

Spreads & Commissions

Oval X offers competitive spreads on a range of financial instruments. For popular currency pairs such as EUR/USD, the minimum spread is as low as 0.6 pips and the average spread is 0.81 pips, allowing traders to access tight pricing and potentially reduce trading costs. Similarly, for other currency pairs like EUR/JPY, the minimum spread is 0.9 pips, providing traders with favorable pricing conditions. When it comes to indices, Oval X offers spreads of 1 pip for both UK and Wall Street indices, enabling traders to participate in the movements of these key markets with competitive pricing.

For precious metals like gold, the minimum spread is as low as 0.4 pips, offering traders favorable conditions for trading this popular commodity. The spread for silver is even narrower at 0.03 pips, providing traders with tight pricing on this metal. For commodities such as crude oil and natural gas, Oval X offers spreads of 0.03 and 0.02 pips respectively, giving traders access to these markets with low trading costs.

Spreads

In terms of commissions, Oval X charges 0.1% per deal for UK and European stock trades, 2 cents per share for US major and minor stock trades, and 0.2% per deal for Australian stock trades. These commission rates are competitive and transparent, allowing traders to have a clear understanding of the costs associated with their trades.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker EUR/USD Spread Commissions
Oval X 0.6 pips 0.1% per deal (UK & EU stocks)
Z.com Trade 0.2 pips No
AETOS 0.3 pips No
Hirose Financial 0.8 pips No

Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.

Please note that spreads and commissions may vary based on market conditions and account type. It's always recommended to check with the respective broker for the most up-to-date information.

Trading Platforms

Oval X offers traders a choice between two robust and versatile trading platforms: MetaTrader4 and Oval X Trader Pro. The MetaTrader4 platform is widely recognized and highly regarded in the industry, known for its user-friendly interface, advanced charting capabilities, and a wide range of technical indicators. Traders can access the MetaTrader4 platform on their computers, smartphones, or tablets, providing flexibility and convenience in managing their trades.

On the other hand, Oval X Trader Pro is the broker's own developed trading platform, offering similar features and functionality to MetaTrader4. Traders using Oval X Trader Pro can also enjoy multiple chart types, a comprehensive suite of technical indicators, and customizable tools to suit their trading preferences.

Whether traders prefer the familiarity of MetaTrader4 or the tailored experience of Oval X Trader Pro, both platforms offer a seamless trading experience across different devices, allowing traders to access the markets and execute trades with ease and efficiency.

See the trading platform comparison table below:

Broker Trading Platforms
Oval X MetaTrader 4, Oval X Trader Pro
Z.com Trade MetaTrader 4, Z.com Trader
AETOS MetaTrader 4, AETOS WebTrader
Hirose Financial MetaTrader 4, LION Trader

Deposits & Withdrawals

Oval X provides its clients with a variety of convenient and secure deposit methods. Traders can fund their accounts using bank wire transfers, internet wire transfers, VISA/MasterCard/Maestro, UnionPay, e-wallets including Skrill and NETELLER, with no commissions charged for these transactions. This flexibility allows traders to choose the payment method that suits them best.

Deposits & Withdrawals

Oval X minimum deposit vs other brokers

Oval X Most other
Minimum Deposit $100 $100

When it comes to withdrawals, Oval X Capital offers its clients the benefit of 5 free withdrawals per calendar month for amounts over $100, ensuring that traders can access their funds without incurring additional costs. However, it is important to note that Oval X Capital incurs fees from the bank for processing withdrawal requests. As a result, if a client exceeds the 5 monthly free withdrawals, a fee of $25 per withdrawal will be charged. This fee applies to withdrawals made after the fifth withdrawal in a calendar month and ensures the sustainability of the withdrawal process while maintaining the convenience and affordability of withdrawals for most traders.

See the deposit/withdrawal fee comparison table below:

Broker Deposit Fee Withdrawal Fee
Oval X No deposit fees No withdrawal fees for the first 5 withdrawals per month; subsequent withdrawals incur a fee of $25 per withdrawal
Z.com Trade No deposit fees No withdrawal fees
AETOS No deposit fees No withdrawal fees
Hirose Financial No deposit fees No withdrawal fees

Customer Service

    If potential clients or existing clients encounter some problems during their trading process, they can reach out to this Oval X through the following contact channels:

    • Service Time: Monday to Friday: 7:30 am to 9 am - UK time

    • Telephone: +44 (0)207 392 1434, +44 (0)207 392 1400

    • Email: customer.service@ovalx.com

Or you can also follow this broker on some social media platforms, such as Facebook, Twitter, YouTube, LinkedIn and Telegram.

Overall, Oval X's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Pros Cons
• Multiple contact channels • Limited customer service hours
• Active presence on social media platforms • No 24/7 customer support
• No live chat support

Note: These pros and cons are subjective and may vary depending on the individual's experience with Oval X's customer service.

User Exposure on WikiFX

On our website, you can see that some reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

User Exposure on WikiFX

Education

Oval X places great emphasis on providing valuable educational resources to its clients. Through regular publication of webinars, blogs, news, and analysis, Oval X aims to empower traders with knowledge and insights to enhance their understanding of the market and refine their investment strategies. These educational materials cover a wide range of topics, including market trends, trading techniques, risk management, and fundamental and technical analysis.

Conclusion

Based on the available information, it is important to approach Oval X with caution. The lack of regulation and reports of withdrawal issues raise concerns about the safety and reliability of the platform. Traders are advised to thoroughly assess the risks associated with trading on an unregulated platform and consider alternative options that offer stronger regulatory oversight. It is crucial to prioritize the security of funds and ensure transparency when choosing a trading platform.

Frequently Asked Questions (FAQs)

Q 1: Is Oval X regulated?
A 1: No. Oval X FCA (Financial Conduct Authority, License No. 124721) license is a suspicious clone.
Q 2: What is the maximum trading leverage offered by Oval X?
A 2: The maximum trading leverage offered by Oval X Capital is up to 1:200.
Q 3: Does Oval X offer the industry leading MT4 & MT5?
A 3: Yes. Oval X provides MT4 and a proprietary platform - Oval X Trader Pro.
Q 4: What is the minimum deposit for Oval X?
A 4: The minimum initial deposit to open an account is $100.
Q 5: Can I deposit cash into my account?
A 5: Oval X does not accept cash deposits due to AML regulations.
Q 6: Is Oval X a good broker for beginners?
A 6: No. It is not a good choice for beginners. We dont advise any traders trade with unregulated brokers.
swissquote
Swissquote Basic Information
Founded in 1996
Headquarters Gland, Switzerland
Regulation FINMA, FCA, MFSA, SFC
Tradable Instruments Forex, Stocks, Options, Futures, CFDs, ETFs
Account Types Standard, Premium
Minimum Initial Deposit $1,000
Maximum Leverage 1:100
Commission Depends on the account type and instrument traded
Spreads Variable, starting from 0.6 pips
Trading Assets Currencies, Stocks, Bonds, Options, Futures, and Funds
Trading Platforms MetaTrader 4, MetaTrader 5
Customer Support Phone, Email, Live Chat
Educational Resources Webinars, Tutorials, Market Analysis, News
Additional Features Swiss DOTS (Structured Products), Robo-Advisory

Overview of Swissquote

Swissquote is a leading online forex and financial trading broker headquartered in Switzerland. It was established in 1996 and has since grown to become a popular choice among traders worldwide. The broker offers a wide range of financial instruments to trade, including forex, stocks, indices, commodities, bonds, and cryptocurrencies.

Swissquote offers several account types, including Standard, Premium, Prime, and Professional, to cater to different trader needs. The minimum deposit for a Standard account is $1,000, which is relatively high compared to some other brokers. However, the broker's range of account types and trading conditions may appeal to professional traders who require higher leverage and tighter spreads.

Swissquote provides its clients with access to several trading platforms, including MetaTrader 4 and 5, Advanced Trader, and their proprietary platform, Swissquote EDGE. The broker's platforms are user-friendly, feature-rich, and offer advanced trading tools and charting capabilities.

basic-info

Is Swissquote legit or a scam?

Yes, Swissquote is a legitimate broker with four entities under respective jurisdictions:

Swissquote Bank Ltd, which is based in Switzerland, is regulated by the Swiss Financial Market Supervisory Authority (FINMA).

regulation

Swissquote Ltd, which is based in the United Kingdom, is regulated by the Financial Conduct Authority (FCA).

regulation

Swissquote MEA Ltd, which is based in Dubai, is regulated by the Dubai Financial Services Authority (DFSA).

regulation

SWISSQUOTE FINANCIAL SERVICES (MALTA) LTD, is regulated by the Malta Financial Services Authority (MFSA).

regulation

These regulatory authorities ensure that Swissquote adheres to strict standards in terms of financial stability, transparency, and investor protection.

Pros & Cons

Swissquote is areputable and regulated broker, offering an array of financial instruments and account types for traders to choose from. As with any broker, there are advantages and disadvantages to consider. In the following table, we present a summary of the key pros and cons of trading with Swissquote. Swissquote undoubtedly offers a comprehensive range of trading instruments and state-of-the-art trading platforms that are designed to cater to the diverse trading needs of both novice and experienced traders. However, despite its many strengths, it falls short in terms of customer support, as it does not provide round-the-clock assistance, which can be a major drawback for traders who require immediate assistance during off-hours or in emergency situations. Whether you are a beginner or an experienced trader, this information can help you make an informed decision about whether Swissquote is the right broker for you.

Pros Cons
Regulated by reputable authorities including FINMA and FCA Relatively high trading fees compared to other brokers
Wide range of trading instruments including forex, stocks, ETFs, bonds, and cryptocurrencies Limited education and research resources
Competitive spreads and commissions Inactivity fee charged after 24 months of inactivity
Demo Account Available No 24/7 customer support
Various account types with different features to suit different trading needs High minimum deposit requirement
Availability of advanced trading platforms including MT4, MT5, and Advanced Trader Limited customer support options outside of business hours
Efficient and reliable customer support during business hours No US clients accepted

Market Instruments

Swissquote offers a wide range of market instruments for trading, including over 130 currency pairs, commodities, stock indices, shares, bonds, and cryptocurrencies. As a well-established Swiss broker, Swissquote is able to offer trading on several Swiss-specific instruments, such as the Swiss Market Index (SMI) and the Swissquote Group Holding Ltd. (SQN) stock, as well as access to other global exchanges such as the NYSE, NASDAQ, and LSE. With such a broad range of market instruments, traders of different experience levels can find suitable trading options that align with their trading strategies and investment goals.

products
products

Account Types

Swissquote offers a range of account types to cater to the varying needs and preferences of its clients. The primary account types available are the Premium Account, Prime Account, Elite Account and Professional Account. Each account type comes with distinct features and benefits, such as different minimum deposit requirements, leverage ratios, and spreads. The Premium Account requires a minimum deposit of 1,000 CHF or equivalent, while the Prime Accounts require a higher minimum deposit of 5,000 CHF or equivalent. The Elite and Professional accounts ask for the highest minimum deposit of 10,0000 CHF or equivalent.

The Standard Account provides clients with access to a wide range of financial instruments, including forex, CFDs, stocks, options, futures, and bonds. The Premium Account, on the other hand, is designed for high-volume traders and offers lower spreads and commissions, as well as personalized service. The Prime Account is designed for institutional clients and provides them with a dedicated account manager, as well as access to exclusive liquidity and pricing.

Moreover, Swissquote also offers an Islamic Account, which is compliant with Sharia law and is available to clients who follow the Islamic faith.

account-types
account-types

Demo Trading

Swissquote offers a free demo account for clients to practice trading strategies and test out the broker's trading platforms without risking any real funds. The demo account provides users with virtual funds to trade on the same live markets as the actual trading accounts. The account comes with real-time pricing and charting tools, allowing traders to simulate trading conditions as closely as possible. This is an excellent opportunity for traders to get familiar with the broker's platforms and trading environment before committing any real money. Moreover, the demo account is ideal for both novice and experienced traders who want to try new trading strategies or test their current trading strategies without incurring any financial risk.

Overall, demo accounts are a valuable resource for any trader who wishes to sharpen their skills and become more proficient in their trading activities.

demo-trading

How to open an account with Swissquote?

  1. Visit the Swissquote website and click on the “Open your Account” button.

open-account
  1. Provide personal information, such as name, email, and phone number, along with a valid identification document, such as a passport or driver's license.

open-account
  1. After the account is created and verified, the next step is to select the desired account type and deposit funds, such as Premium, Prime or Elite accounts.

  2. Agree to the terms and conditions and submit your application.

  3. Swissquote offers several convenient deposit methods, including bank transfer, credit/debit card, and online payment services. Once the account is funded, traders can access the trading platforms, begin analyzing the markets, and placing trades on a variety of financial instruments.

Leverage

Swissquote offers variable leverage levels depending on the financial instrument and the account type. For forex trading, the maximum leverage available is typically 1:30 for retail clients and up to 1:100 for professional clients who meet certain criteria. For CFD trading on indices, commodities, and cryptocurrencies, the maximum leverage ranges from 1:10 to 1:5, depending on the underlying asset.

Always keep in mind that high leverage can significantly increase the potential gains, but it can also magnify the losses, so it's important to use it with caution and always keep in mind the risks involved.

Spreads & Commissions (Trading Fees)

Swissquote offers competitive spreads and commissions to its clients. The exact costs depend on the type of account and the trading instrument being traded. The Premium Account has variable spreads, with the EUR/USD spread starting from 1.3 pips, while the Prime Account offers spreads starting from 0.6 pips. The Elite Account offers spreads as low as 0.0 pips, but it requires a higher minimum deposit and trading volume. The professional accounts provide spreads from 0.0 pips too.

In terms of commissions, the Premium Account and Prime Account charge zero commission. The Elite Account and the Professional Account charge a commission of EUR2.5 per side per lot traded. Overall, Swissquote is often seen as competitive in terms of spreads and commissions when compared to other major brokers.

spreads-commission

Below is a comparison table illustrating the spreads of EUR/USD, UK100, Gold, and Silver offered by Swissquote and three other brokers - FXTM, XM, and Plus500:

Broker EUR/USD Spread UK100 Spread Gold Spread Silver Spread
Swissquote 1.3 1 0.25 0.03
FXTM 1.5 1.2 0.35 0.03
XM 1.6 1 0.35 0.03
Plus500 0.6 1 0.37 0.03
spread-commission
spread-commission
spread-commission

Non-Trading Fees

Non-trading fees are fees that Swissquote charges its clients for services that are not directly related to trading activities. Swissquote has a relatively low level of non-trading fees compared to other brokers. Swissquote does not charge deposit fees, but it charges withdrawal fees, which depend on the method used. Swissquote also charges an inactivity fee of CHF 50 per quarter if no trades have been made during the last six months. This fee is lower than the industry average, which is around $15 per month.

Besides, Swissquote also charges overnight swap fees, also known as rollover fees or financing fees, on positions that are held overnight. The amount of the fee depends on the currency pair, the size of the position, and the prevailing interest rates in the respective countries.

Trading Platform

Swissquote offers a range of trading platforms suitable for both beginner and advanced traders. Its flagship platform is the Advanced Trader, which is a user-friendly and customizable platform that provides access to multiple markets and a wide range of trading tools. Additionally, the broker offers the popular MetaTrader 4 and 5 platforms, which are favored by many traders for their advanced charting capabilities and expert advisor features.

Advanced Trader

Swissquote Advanced Trader is a proprietary trading platform developed by Swissquote. It is a fully customizable platform designed to cater to the needs of professional traders. The platform offers advanced charting tools, a variety of technical indicators, and the ability to create and backtest trading strategies using the integrated programming language. Swissquote Advanced Trader also offers real-time news and market analysis to keep traders up-to-date with market events. The platform is available for desktop, web, and mobile devices.

trading-platform

MetaTrader 4 (MT4)

Swissquote offers the popular MetaTrader 4 (MT4) trading platform to its clients, which is widely recognized in the industry for its reliability, speed, and advanced charting tools. MT4 is available for download on desktop, web, and mobile devices, allowing traders to access their accounts and manage their trades from anywhere at any time. Swissquote also offers a range of customized tools and indicators, allowing traders to personalize their trading experience on the platform. Additionally, Swissquote provides free access to Autochartist, a popular technical analysis tool that helps traders identify potential trading opportunities.

trading-platform
trading-platform

MetaTrader 5 (MT5)

Swissquote offers the MetaTrader 5 (MT5) platform to its clients, which is the successor to the popular MT4 platform. MT5 has several advanced features such as improved charting capabilities, additional order types, and an economic calendar. Clients can also use MT5's algorithmic trading capabilities through the use of Expert Advisors (EAs) to automate their trading strategies. Swissquote's MT5 platform is available for desktop, web, and mobile devices, making it easily accessible for traders on the go.

trading-platform

Here is a table comparing the trading platforms offered by Swissquote, IG, and IC Markets:

Trading Platform Swissquote IG Markets IC Markets
MetaTrader 4
MetaTrader 5
Advanced Trader × ×
WebTrader
Mobile App

Deposit & Withdrawals

Swissquote offers two primary deposit methods: wire transfer and debit card deposit. With wire transfer, clients can make deposits in various currencies, but the process may take longer, typically taking one to two business days to reflect on their account. On the other hand, debit card deposits are processed faster, typically within a few minutes, and they are available in CHF, EUR, GBP, EUR, AUD, JPY, PLN, CZK, HUF and USD.

deposit-withdrawal

Minimum Deposit

Swissquote, a prominent brokerage firm in the financial market, has set its minimum deposit threshold at a noteworthy sum of CHF 1,000 or its equivalent in other currencies, which may be considered relatively high compared to other brokers in the industry.

Below is a comparison table depicting the minimum deposit prerequisites of Swissquote, Exness, and IG:

Broker Minimum Deposit
Swissquote $1,000
Exness $1
IG $300

For withdrawals, Swissquote typically processes requests within one to two business days. Clients can withdraw funds using the same methods they used to deposit funds. However, it's important to note that some withdrawal methods may incur fees, so it's essential to check with the broker first before initiating a withdrawal request.

deposit-withdrawal

Customer Support

Swissquote offers customer support via various channels to ensure its clients receive timely and efficient assistance. Clients can reach Swissquote's customer support team via phone, email, and live chat, available during business hours. However, Swissquote's customer support is not available 24/7, which may be a disadvantage for clients who require immediate assistance outside of business hours. Nonetheless, the broker offers a comprehensive FAQ section on its website, which provides answers to some common questions, and clients can also seek assistance by submitting a ticket through the website. In addition, Swissquote offers support in several languages, including English, French, German, Italian, and Spanish, to cater to its global client base.

Educational Resources

Swissquote offers a plethora of educational resources to help traders of all levels enhance their knowledge and skills. The broker provides various learning materials, including webinars, seminars, online courses, and e-books. Additionally, Swissquote offers market analysis and news to keep clients informed about the latest developments in the financial markets. This valuable information can help traders make informed decisions when executing their trades.

educational-resources
educational-resources
educational-resources
Pros Cons
Comprehensive educational material on various topics No formal education program
Interactive webinars and seminars with industry experts Limited language options for educational material
Wide range of market analysis tools and resources No demo account for educational purposes
Access to Swissquote's research and analysis reports Some educational material requires a paid subscription
Free educational material for all account holders No personalized coaching or mentoring programs

Conclusion

In conclusion, Swissquote is a well-established and highly regulated forex broker offering a wide range of trading instruments, advanced trading platforms, and competitive trading conditions. The broker has earned a strong reputation for its commitment to security, transparency, and innovation, which has made it a preferred choice for traders looking for a reliable and trustworthy trading partner. While the broker's high minimum deposit requirement may be a challenge for some traders, its educational resources and excellent customer support help to offset this disadvantage.

FAQs

  • Q: Is Swissquote a regulated broker?

A: Yes, Swissquote is regulated by several financial authorities, including the Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA) in the UK

  • Q: What trading platforms are offered by Swissquote?

A: Swissquote offers several trading platforms, including the MetaTrader 4 and 5 platforms, the Advanced Trader platform, and a mobile trading app.

  • Q: What is the minimum deposit required to open an account with Swissquote?

A: The minimum deposit required to open an account with Swissquote is $1000.

  • Q: Does Swissquote offer a demo account?

A: Yes, Swissquote offers a free demo account with virtual funds for traders to practice trading strategies.

  • Q: How can I deposit and withdraw funds from my Swissquote account?

A: You can deposit and withdraw funds from your Swissquote account using wire transfer or debit card.

Are the transaction costs and expenses of etx-capital, swissquote lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive etx-capital and swissquote are, we first considered common fees for standard accounts. On etx-capital, the average spread for the EUR/USD currency pair is -- pips, while on swissquote the spread is --.

Which broker between etx-capital, swissquote is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

etx-capital is regulated by FCA. swissquote is regulated by FCA,MFSA,FINMA,DFSA.

Which broker between etx-capital, swissquote provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

etx-capital provides trading platform including -- and trading variety including --. swissquote provides trading platform including professional ,standard,prime,premium and trading variety including custom.

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