Following the strong tradition of providing the banking services and becoming one of the leaders in the entire world in those banking services, it is no wonder that many Forex brokers appeared and are operating from and in Switzerland. One such broker for Forex trading is the SwissQuote. Even though some of the features that are provided by other Forex brokers are not provided by SwissQuote, it has still managed to gather a respectable number of clients by providing many other very interesting features that benefit the client. With offices all around the world, SwissQuote has been present in almost all parts of the world for a very long time now. Being heavily regulated which will be further explained in the following part of this review, SwissQuote is one of the most trusted brokers for Forex trading that are currently present on the market. What this Forex broker is providing to their clients can be characterized as really competitive conditions in which clients conduct the trade with the clients always being the centre of attention as well as the environment that is optimally organized for the biggest benefit of a client. The prestige that the entire banking sector of Switzerland is so proud of has also become an inevitable part of the SwissQuote Forex broker.
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Background and Regulation
The SwissQuote Forex broker has been established in 1999 and since then it has spread all over the world. Today, their offices can be found in Bern, Zurich, London, Hong Kong, Malta, Dubai and more than 500 employees are taking care of the clients and making sure that they have everything they need when they are trading with currencies on the Forex market. SwissQuote broker for Forex trading has been established by one of the most prominent Swiss banks, the SwissQuote Bank Ltd. Both, the SwissQuote Forex broker and the SwissQuote Bank are regulated by the Swiss Financial
Market Supervisory Authority or FINMA.
In addition to what has already been mentioned in terms of regulation, it must also be mentioned that SwissQuote is currently present in the United Kingdom as well. In the UK, this broker for Forex trading is registered under the name SwissQuote Ltd and it is regulated by the Financial Conduct Agency which has one of the toughest regulations when it comes to the online trading, including trading of currencies. Besides providing the services of the Forex broker, this company is also providing services in the aspects of commodities, indices and many other types of online trade.
SwissQuote is not without a reason in the top 10 brokers for Forex trade in the world. One of the reasons why this broker is having such reviews is the fact that it provides two different trading platforms for their clients and those platforms are:
- MetaTrader 4 or MT4
- MetaTrader 5 or MT5
Both of these trading platforms were developed by Metaquote Software Ltd and they are considered to be the best on the market of Forex trading. The MT4 trading platform is the standard that is present in almost the entire market that provide their clients with the some of the most comprehensive features for Forex trading that is used for providing the clients with the best possible conditions for Forex trading. On the other hand, the MT5 trading platform is the more recent version of the trading platform and it provides many different features that the clients can use while conducting the Forex trade through this broker.
SwissQuote Account Types
SwissQuote broker for Forex trading is providing their clients with the selection of three different account types that clients can choose according to their wishes and needs. One of those account types is the Standard Trading Account. This account requires the clients to deposit the amount of money that is between 1,000 USD and 25,000 USD. The second type of the account offered by this Forex broker is the Premier Trading Account that requires clients to deposit the amount of funds that are between 25,000 USD and 100,000 USD. The last type of the account provided by the SwissQuote broker for Forex trading is the Prime Trading Account. The deposit requirements for this account are more than 100,000 USD and this is not the account that the common people will want to use. Instead, this account is for those professionals who are not afraid of taking risk by trading with big sums of money.
One of the biggest problems that this broker for Forex trading is currently facing is that it does not provide any kind of special offers, promotions or bonuses to the clients that sign-up with this Forex broker or to those clients who have already been trading with this broker for some time. This is especially big problem when it comes to appealing and attracting new clients with their offer. In majority of cases, people who are in the process of selecting the right Forex trader for them to use will now consider whether or not the given broker provides bonuses to them because in the market there are many Forex brokers that actually do provide these bonuses to their clients.
The banking options that SwissQuote Forex broker is providing their clients with are the standard options that can be found with many other brokers for Forex trading. These banking options include Bank Wire Transfers as well as some electronic transfers such as PayPal, Skrill, Neteller and several others. Besides that, the banking options that this Forex broker is providing their clients include many different Debit and Credit Cards including VISA, MasterCard and several others. These banking options are used for both depositing and withdrawing money from the clients’ accounts. It should also be mentioned that this broker is also providing their clients with the opportunity to use different currencies for their accounts and those are USD, GBP and EUR.
In order to provide their clients with the best possible customer support, SwissQuote broker for Forex trading has provided their clients with the version of their official web site in Arabic, French, Chinese, German, Italian, Russian, Spanish and French language. The customer support service provided by this Forex broker is available for clients through live chat, phone call and e-mail. Clients can also request a callback from this broker if they are not willing to spend their own money on the telephone call charges.