FxPro vs Swissquote - Fees Review included
Which broker is better FxPro or Swissquote? Our expert assessment conducted according to TU’s own methodology showed that FxPro is one of the top brokers in the financial market with the TU Overall Score of 8.68 out of 10. Swissquote is one of the top brokers in the financial market with the TU Overall Score of 6.58 out of 10. Find out more about TU Overall Score.
| Feature | FxPro | Swissquote |
|---|---|---|
Overall |
4.6 |
4.3 |
5 |
4.8 |
|
3.9 |
3.6 |
|
4.6 |
5 |
|
Investment Instruments |
4.9 |
4.3 |
Platforms and Charting Tools |
4.2 |
4.7 |
Deposit and Withdrawal |
4.5 |
4.0 |
Research |
4.7 |
4.5 |
Education |
4.6 |
4.6 |
Support |
4.5 |
4.0 |
Bonuses |
2.5 |
3.6 |
|
|
|
FxPro vs Swissquote: Pros and Cons
The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC (Cyprus), Bahamas SCB, FCA (UK), and South African FSCA. FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The company has stock indices, metals and energy resources at its disposal. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.
The Swissquote brokerage firm has been operating in the Forex market since 1996. The company is regulated by the Swiss Financial Markets Authority (FINMA). The company is a member of the Swiss Bankers Association. It has offices in many financial capitals of the world: Zurich, London, Dubai, Hong Kong and is moderately popular among traders. The company falls short in the category of customer service when compared to other top companies and is significantly inferior to popular Forex brokers in many other respects also.
| FxPro | Swissquote | |
|---|---|---|
| Overall Pros | Regulated in EU and Great Britain | availability of a license from an authoritative regulator |
| Big choice of ECN/STP accounts | a wide range of financial services | |
| insurance of client funds | a large selection of deposit currencies | |
| Strong research and education | ||
| PAMM and Copy-trading for investors | ||
| Personal offers for VIP-clients | ||
| Overall Cons | High spreads and fees | high spreads and commissions |
| No forex bonuses | large deposit | |
| few promotions, bonuses, contests, or other special offers |
FxPro vs Swissquote: Safety and Regulation
| Regulated By: | FxPro | Swissquote |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
FSCA (South Africa), SCB (Bahamas) |
FINMA (Switzerland) |
FxPro vs Swissquote: Trading Conditions
| Trading Conditions | FxPro | Swissquote |
|---|---|---|
Minimum Deposit |
$100 |
$1000 |
Trading Platforms |
MT4, MT5, MultiTerminal |
MT4, MT5, Advanced Trader |
Max Leverage (Futures) |
1:500 SCB regulation 1:30 (FCA, CySec regulation) |
1-100 |
Supported Markets |
Forex, CFDs on indices cryptocurrencies, stocks, energy commodities |
Forex, CFD, precious metals, stock indices, bonds, commodities, cryptocurrencies |
Trading assets |
3000+ |
10000+ |
Trading Accounts |
FxPro MT4 Instant (with fixed spreads), FxPro MT4 Instant (with floating spreads), FxPro MT4 Market, FxPro MT5, FxPro cTrader, VIP-account |
Standard, Premium, Professional, Prime |
Base Account Currencies |
USD, EUR, PLN, GBP, AUD, CHF, JPY, ZAR |
USD, EUR, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, CZK |
FxPro vs Swissquote: Fees
Forex Trading Fees
| Fee | FxPro | Swissquote |
|---|---|---|
Standard Account EURUSD Average Spread |
2.4 pip |
1.7 pips |
Standard Account Fee |
$0 |
15-50 CHF |
ECN/STP Account Fee |
Not offered |
Not supported |
ECN Account EUR Average Spread |
Not offered |
Not supported |
CFD Trading Fees
| Fee | FxPro | Swissquote |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | FxPro | Swissquote |
|---|---|---|
Account Fee |
No |
15-50 CHF |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$5 per month after 6 monthes without trades |
$10 per month after 6 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FxPro vs Swissquote: Trading Assets
| Asset Name | FxPro | Swissquote |
|---|---|---|
Overall |
3000+ trading assets |
10000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
No |
No |
Bonds |
No |
Yes |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
FxPro or Swissquote: Investment Programs
| Asset Name | FxPro | Swissquote |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
Yes |
Managed Accounts |
No |
No |
Other |
No |
Themes Suggestions |
Trading Platforms: Swissquote or FxPro
| FxPro | Swissquote | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FxPro |
Advanced Trader |
Others |
No |
No |
|
|
|
FxPro vs Swissquote: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FxPro | Swissquote |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (Only Bahamas and South Africa regulated entities) |
No |
Crypto |
No |
No |
FxPro vs Swissquote: Research
| Research Type | FxPro | Swissquote |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
FxPro vs Swissquote: Education
| Education Type | FxPro | Swissquote |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Swissquote vs FxPro: Support
| Support Features | FxPro | Swissquote |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
No |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
FxPro vs Swissquote: Forex Bonuses and Promo
| Promo | FxPro | Swissquote |
|---|---|---|
Forex Bonus |
Not offered |
No |
Affiliate Program |
Up to $1.100 per client you introduce to FxPro |
Recommend Swissquote Bank and receive cash bonuses of up to CHF 800 for every customer you refer. |
Other Promos |
No |
|
|
|
|
Top 5 Reviews on Swissquote
-
Comment
A year ago, when I was a novice trader, I carefully studied the market and looked for a reliable broker to avoid possible fraudulent schemes. After a long search and analysis of many reviews and forums, I decided to choose Swissquote. It turned out to be the right choice. I did not regret my decision, as Swissquote turned out to be a reliable and professional company. I recommend this broker.
-
Comment
I have received positive experience for two years of trading with Swissquote. Their reliability, execution speed, and lack of requotes make trading convenient and enjoyable. The only thing I would like to improve is to expand the range of tools for technical analysis, including those designed for trading on stock markets. Overall, I recommend Swissquote to Forex traders.
-
Comment
Swissquote did not pass my own check. I made a deposit, traded a little, and saw serious issues. I have a lot of experience and problems with opening orders and the operation of the platform are obvious to me. Technical support is very weak.
-
Comment
Although Swissquote is considered good, I cannot write a positive review about it. The spread here is not 1.5 points, as stated on the website. The average spread for major currency pairs at Swissquote is 4-5 points without widening. During the night or during strong market movements, the spread can reach 15-20 points. My trading strategy cannot withstand such a spread.
-
Comment
Swissquote practices blocking traders who trade successfully and actively. Although the company does not prohibit active trading, it appears that there are still restrictions. At first, I was blocked from accessing my user account for a week precisely because of active trading. Then Swissquote introduced a limit on the number of trades per day - no more than two. It’s kind of nonsense, these restrictions are strange! There is no point in trading with the broker that does not allow you to open more than two trades per day.
Top 5 Reviews on FxPro
-
Comment
To become a successful forex trader, you must know the four trading sessions and best time to trade in the most busy session. Forex trading sessions are times when the forex market is open and closed in different regions. You have to learn about these sessions to know when each opens and closes before you open a position. Out of the four sessions, new york and London is the ones with the highest trading volume and the best sessions to trade in if you want to trade in a busy market. I use the FXxPro Global Stock Exchanges session times to know what session is open and to monitor when two sessions overlap especially the New York and London overlap which is the best time to trade as it is known to have the heaviest volume of trading and is best for trading opportunities. Personally, this is one of the simple but helpful tools for day traders on FxPro.
-
Comment
You can transfer from your Fxpro wallet to your trading wallet 24/7. I happen to be busy during the weekdays and only trade during the weekends, now i want to transfer funds between my FxPro Wallet and trading accounts during the weekend to trade. The first time i tried i had few open positions and it stalled but after closing the positions it was successful. So transferring funds between fxpro wallet and trading accounts during weekends is possible if the specific trading account you are transferring from does not have any open positions. You will not be able to move money from an open trade you had over the weekend to your wallet until the market reopens on Sunday at 22:00 UK time.
-
Comment
When you encounter any challenge with your trade, the best option is to contact the customer service agent if you don't have any senior trader you can get help from at the moment. At least the Fxpro customer service is fast, responsive, and made up of experts. Issues with verifications, deposit and withdrawals are best handled by the support team, especially those that have to do with delay in funding accounts. You can use the FAQ option to solve some recurring issues as you can find answers given to traders who had similar challenges earlier. In one of the occasions connecting to the customer support was not going through so i decided to check the FAQ section. My challenge has to do with transferring from my wallet to my trading account. I solved this with the answer from the FAQ section.
-
Comment
Great broker FxPro. It has decent trading tools and a wide range of assets. This is good because the opportunity to invest in multiple financial markets simultaneously is an advantage for any trader. FxPro has a fairly professional customer support service, helping to resolve various issues. I've traded here on two platforms, and they both work quickly.
-
Comment
You can entrust FxPro with your money. As far as I know, the company has established itself as a decent broker and it would be surprising when they engage in manipulation here. I have been trading with FxPro for many years and during all this time I haven’t noticed any manipulations or bucket shop methods.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!