Since it was founded in 2996, Swissquote has become the undisputed Swiss leader in regard to online trading and financial services. Its name is included in the list of top 10 forex brokers around the world and has more than 200,000 institutional clients and private investors that trade a wide range of indices, commodities and currencies through its platform. Regulated by the Swiss Financial Market Supervisory Authority (FINMA), Swissquote Bank Ltd is a well-recognized bank and also holds the membership of the Swiss Bankers Association. It has its offices in a number of locations including Switzerland, Malta, London, Hong Kong and Dubai and serves customers in more than 120 countries.
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If you are considering Swissquote for starting your career in the trading market, it is best for you to familiarize yourself with all it has to offer:
The first step that you need to take is sign up for an account on Swissquote. There are three account options at your disposal. The first option is referred to as Standard and can be opened with a deposit of any amount. The next option is called the Premium account, which requires you to deposit $25,000 whereas the third account option is called Prime and requires a deposit of $100,000. The margin rates as well as the spreads you can get differ according to the product that’s being traded. The minimum trade for foreign currencies is $1,000.
As compared to other brokers, the leverage is capped at 100:1 at Swissquote. However, it provides traders with the option of increasing or reducing their leverage via a simple request. Account holders have the authority of trading mini-step lots. Step Lot trading starts at 0.1 lot and allows for increments of 0.1, 0.11, 0.12 and more. Mini-lots can also be traded and the minimum amount is 0.1 lot, which is 10,000 of the base currency.
One of the most prominent benefits of choosing Swissquote as your broker is that it gives you access to a demo account. This account can be accessed for free for approximately 30 days and can give traders an idea of what to expect when they actually start trading in the market. An appealing feature of Swissquote is their account form tab, which provides a list of all possible forms that an account holder may need.
Another advantage of using Swissquote for trading is that it provides flexible transaction sizes on all the trading platforms that are available and also has a clear table that consists of all the necessary information. Furthermore, traders also have the option of contacting the trading desk for placing orders during business hours and this also includes transaction sizes that are greater than the ones mentioned in the table. You can opt for spot Gold and silver trading against USD on Swissquote. The pairs are represented on the brokerage in the same way as currency pairs; Gold- XAU/USD, Silver-XAG/USD.
The standard dealing amount for Gold and Silver is 1 hour and this spot trading can be availed during liquid hours from Monday to Friday. A nice feature that not many forex brokers offer to their clients is a clear list of swap rates, which is quite convenient for the traders. A new feature was recently introduced by Swissquote, which is called the Swissquote Sqore. It is the first free portal of its kind that can bring about institutional quality trading ideas to the retail market.
Loaded with a variety of innovative features, this is a revolutionary generator of trade ideas. It has been designed for traders who want to use advanced investment algorithms for raising the stakes while remaining transparent and simple. This option was previously available only to institutions.
There is a complete learning center developed by Swissquote that provides the fundamental knowledge every trader should have. All the educational material is geared towards traders from different backgrounds and varying levels of experience. You can find text explanations on a number of topics, which includes basic Forex information such as the Origins of Forex Exchanges, the Advantages of Forex Trading, Market Participants and plenty more.
In addition, there are also discussions on more complex topics such as Margin Trading, Profit and Loss Calculations, Speculation and more. Other topics that have also been covered in the form of discussions include Moving Average Convergence Divergence (MACD), Stochastic Oscillator, Waves, Number Theory, Gaps, Chart formations, Trends, Relative Strength Index (RSI) and other forex technical indicators as well as Forex fundamental vs Forex technical analysis.
The platform can also provide you with a daily newsletter, daily technical report, daily market brief and weekly market outlook, all of which can be incredibly useful for trading successfully. It also provides an economic calendar and a complete glossary of financial terms.
Deposits and Withdrawals
You need to fund your account on Swissquote before you can actually get started with trading. There are several methods that you can use for adding funds, which include credit cards, bank transfers as well as China UnionPay. No fee is applicable for bank transfers, but charges are applicable on other methods. In the case of withdrawals, you don’t have to deal with a minimum amount. Swissquote’s charges for withdrawal can vary, depending on what method you are using and what bank the amount is being withdrawn to.
Last, but not the least, Swissquote specializes in providing comprehensive customer support to its clients. It maintains a 24 hour trading operation and you can reach out to their representatives through a number of methods. You can get in touch with them via phone, the live chat option or also use email. There is also an FAQ section where you can look for an answer to your query. The Swissquote website is available in several languages including Chinese, Arabic, French, English, Russian, Spanish and Italian.
The Swissquote website is alive and offers a ton of useful features and tools for traders. It has mobile apps for different platforms, which can make trading easier and convenient for anyone who is interested.
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