Swissquote
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Swissquote
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Created: by bchip Attachments:2

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Swissquote

  #1 (permalink)
Africa
 
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Favorite Futures: ES,YM,CL,GC
 
Posts: 67 since Sep 2017
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Swissquote

Hi

Just wondering if anybody has used Swissquote?
Good / bad experience? Expensive?

They seem to be quite big in Europe, and its also a listed company.

Any feedback would be appreciated.

Thanks

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  #2 (permalink)
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Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Africa
 
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Pricing


The pricing just seems a bit expensive at CHF50 per quarter for custodian fees
and $25 flat fee on a stock trade above that.

https://en.swissquote.com/online-trading/pricing


1 review I found (but only on the forex side):
https://www.forexbrokers.com/compare/swissquote-vs-td-ameritrade

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  #4 (permalink)
Singapore
 
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Platform: NinjaTrader, Sierra, MT4
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dyst's Avatar
 
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They sound familiar so I checked my emails... Yes, I signed up with them when they just started years ago, for some Fxstreet competition which promised big prize money. Back then the website was very basic and lacked most of the content you see now. No proper FAQ eotjer

I did not like them because I felt I was dealing with bots (automated reply service)> Got introductory email from one of their Chinese guys, and when I wrote to them to find out more about their terms, since the website was bare back then, I never got a reply.

they are one of those CFD brokers, again using MT4 as far as I recall, so use at your own risk.




bchip View Post
Hi

Just wondering if anybody has used Swissquote?
Good / bad experience? Expensive?

They seem to be quite big in Europe, and its also a listed company.

Any feedback would be appreciated.

Thanks


Numbers work... Magic lies in the numbers
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  #5 (permalink)
Legendary Market Wizard
Switzerland
 
Trading Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,899 since Feb 2012
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Swissquote - a Swiss online bank

Hi @bchip

Swissquote had been introduced 2000. It is a Swiss online bank that operates very good and is expanding still.
It is a bank, listed at the Swiss exchange. You can find them here
• Reuters SQZ.S
• Bloomberg SQNSW
• Telekurs SQNt
They have a good reputation. In major towns in Switzerland they have a public contact office - so you can get information from real people.
Have been a client since the very beginning - never had problems.

GFIs1

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The following user says Thank You to GFIs1 for this post:
 
  #6 (permalink)
Africa
 
Trading Experience: Advanced
Platform: TradeStation
Favorite Futures: ES,YM,CL,GC
 
Posts: 67 since Sep 2017
Thanks: 78 given, 54 received


GFIs1 View Post
Hi @bchip

Swissquote had been introduced 2000. It is a Swiss online bank that operates very good and is expanding still.
It is a bank, listed at the Swiss exchange. You can find them here
• Reuters SQZ.S
• Bloomberg SQNSW
• Telekurs SQNt
They have a good reputation. In major towns in Switzerland they have a public contact office - so you can get information from real people.
Have been a client since the very beginning - never had problems.

GFIs1

Thanks so much, really appreciate the feedback

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  #7 (permalink)
Africa
 
Trading Experience: Advanced
Platform: TradeStation
Favorite Futures: ES,YM,CL,GC
 
Posts: 67 since Sep 2017
Thanks: 78 given, 54 received


dyst View Post
They sound familiar so I checked my emails... Yes, I signed up with them when they just started years ago, for some Fxstreet competition which promised big prize money. Back then the website was very basic and lacked most of the content you see now. No proper FAQ eotjer

I did not like them because I felt I was dealing with bots (automated reply service)> Got introductory email from one of their Chinese guys, and when I wrote to them to find out more about their terms, since the website was bare back then, I never got a reply.

they are one of those CFD brokers, again using MT4 as far as I recall, so use at your own risk.

Thanks for the feedback. Strange though not quite the experience I had.
I've phoned them about twice now, (couldnt see any chat functions with a bot), both times it was with a
French&English speaking person in Switzerland.

They are a listed company as well (in Switzerland), but registered with the UK FSP
Its a brokerage firm though, not a bank. In other words they are very similar to Interactive Brokers.

Their FCA number also checked out. 562170
https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000NMbrgAAD

They are way cheaper than Saxo (who isnt), but quite a bit more expensive than Interactive Brokers.

So not sure if its the same guys, but thanks for the feedback.

Cant quite tell the difference between
https://en.swissquote.eu/
https://en.swissquote.com/

Sources:
https://en.wikipedia.org/wiki/Swissquote
https://www.swissquote.ch/index/index_quote_e.html
https://en.swissquote.com/company
https://www.tradingview.com/symbols/SIX-SQN/

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  #8 (permalink)
Singapore
 
Trading Experience: Intermediate
Platform: NinjaTrader, Sierra, MT4
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dyst's Avatar
 
Posts: 83 since May 2015
Thanks: 50 given, 57 received

Very interesting. I wonder if it is the same one we are talking about? They used to have fxstreet competition back then and website was very minimal. The guy who sent me email was Wang Fang and he never replies email when I wrote to him to ask more details (since the website did not have proper FAQ then. just ads on this Manchester United and promoting their analysts lol) so I assumed he was a generic bot.

this was the competition link which is still there Trader of the Year ? About FXStreet
and yes, the same MT4 platform to be used only. I still got all those emails from them. I didn't like them since they never replied to email queries (they used to have live help though certain matters they do not know and asked me to write in which I did a few times but never got a reply). Generally I am cautious with brokers offering MT4 platform only due to this "virtual dealer plugin" (pls google for it). I and others have been a victim of those before which is why I am now moving to futures, instead of CFD which operates almost exclusively on the mt4 platform. Imo it does not matter whether it is registered with ASIC, FCA UK, Cyprus regulator, etc since the broker will only get fined when violating rules; the little guy always gets nothing since the money goes to the regulator. When you look at fxcm, gain capital, iron fx etc cases you will see that pattern.

You're welcome bro. BTW I recall hearing about them from some TST guys in squawk too. Apparently some issues if you are US citizen or something.

ps: I am actually from CFD background which is why I know a lot about this. And yes, the one I got emails from was never a bank either just another of those brokerages.



bchip View Post
Thanks for the feedback. Strange though not quite the experience I had.
I've phoned them about twice now, (couldnt see any chat functions with a bot), both times it was with a
French&English speaking person in Switzerland.

They are a listed company as well (in Switzerland), but registered with the UK FSP
Its a brokerage firm though, not a bank. In other words they are very similar to Interactive Brokers.

Their FCA number also checked out. 562170
https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000NMbrgAAD

They are way cheaper than Saxo (who isnt), but quite a bit more expensive than Interactive Brokers.

So not sure if its the same guys, but thanks for the feedback.

Cant quite tell the difference between
https://en.swissquote.eu/
https://en.swissquote.com/

Sources:
https://en.wikipedia.org/wiki/Swissquote
https://www.swissquote.ch/index/index_quote_e.html
https://en.swissquote.com/company
https://www.tradingview.com/symbols/SIX-SQN/


Numbers work... Magic lies in the numbers

Last edited by dyst; August 29th, 2019 at 01:44 PM. Reason: additional details
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  #9 (permalink)
Africa
 
Trading Experience: Advanced
Platform: TradeStation
Favorite Futures: ES,YM,CL,GC
 
Posts: 67 since Sep 2017
Thanks: 78 given, 54 received

My experience so far

So opened an account with Swissquote

After weeks of struggling to open - as they need a video of you for security purposes, but the bank is only open
their time from 09:00 to 17:00. Eventually I had a morning I could duck from work to open the account.

You get a random username (that I cant even remember) to use and a pdf document with codes.
As I dont always have access to this pdf with me every where I thought let me try the app
that uses fingerprint access.

I've downloaded the app and installed, only to find it not working for the first 2 weeks.
Eventually it started working on the fingerprints, but logging in from my desktop I still have to have
this document on my everytime I login.

I then transferred some money across to officially "open" the account.
After 3 days my bank confirmed the international payment is with Swissquote.
I phoned swissquote after 2 more days (so 1 week from the payment) and found that they cannot see any funds
having come through.
Before that though they asked me security questions to access my account.
One of the questions was what is 3rd,4th and last character of your password?
I asked the consultant if he could see my password, he said he could not only those characters.
This for me is quite a red flag that passwords can so easily be decrypted...

I've emailed them twice now asking about the payment, one with the proof of payment attached.

So waiting 1 week and 2 days from payment and still no response.

I'm not getting a warm feeling about this place, even if they are listed...


Last edited by bchip; October 10th, 2019 at 07:17 AM.
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  #10 (permalink)
Legendary Market Wizard
Switzerland
 
Trading Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,899 since Feb 2012
Thanks: 4,884 given, 10,212 received

Scam...



bchip View Post
So opened an account with Swissquote

After weeks of struggling to open - as they need a video of you for security purposes, but the bank is only open
their time from 09:00 to 17:00. Eventually I had a morning I could duck from work to open the account.

You get a random username (that I cant even remember) to use and a pdf document with codes.
As I dont always have access to this pdf with me every where I thought let me try the app
that uses fingerprint access.

I've downloaded the app and installed, only to find it not working for the first 2 weeks.
Eventually it started working on the fingerprints, but logging in from my desktop I still have to have
this document on my everytime I login.

I then transferred some money across to officially "open" the account.
After 3 days my bank confirmed the international payment is with Swissquote.
I phoned swissquote after 2 more days (so 1 week from the payment) and found that they cannot see any funds
having come through.
Before that though they asked me security questions to access my account.
One of the questions was what is 3rd,4th and last character of your password?
I asked the consultant if he could see my password, he said he could not only those characters.
This for me is quite a red flag that passwords can so easily be decrypted...

I've emailed them twice now asking about the payment, one with the proof of payment attached.

So waiting 1 week and 2 days from payment and still no response.

I'm not getting a warm feeling about this place, even if they are listed...


Hi @bchip
Sorry to hear from your adventure.
I am pretty sure you landed on a false website.
Have a look on the two websites of the very well working online bank in Switzerland with lots of contact possibilities:

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If you really have been on this very website - then you have lots of contact possibilities.
Never they will want to get a "VIDEO" of you - really strange! And phone support is until 22h CET... (see 2nd pic).
If you lost your money you need to open a legal case.

Please tell me if you need any help from here (I am a longtime client of swissquote.com) - I could contact them.
In this case contact me via pm.

Hope for your success. Good luck.
GFIs1

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