Quotex vs Swissquote - Fees Review included
Which broker is better Quotex or Swissquote? Our expert assessment conducted according to TU’s own methodology showed that Quotex is one of the top brokers in the financial market with the TU Overall Score of 7.76 out of 10. Swissquote is one of the top brokers in the financial market with the TU Overall Score of 6.78 out of 10. Find out more about TU Overall Score.
| Feature | Quotex | Swissquote |
|---|---|---|
Overall |
2.8 |
4.3 |
1 |
4.8 |
|
3.3 |
3.6 |
|
3.1 |
5 |
|
Investment Instruments |
1 |
4.3 |
Platforms and Charting Tools |
3.9 |
4.7 |
Deposit and Withdrawal |
4.6 |
4.0 |
Research |
1.5 |
4.5 |
Education |
2.3 |
4.6 |
Support |
3.0 |
4.0 |
Bonuses |
3.8 |
3.6 |
|
|
|
Quotex vs Swissquote: Pros and Cons
QUOTEX is a broker specializing in binary options trading. The company was established in 2019. Its clients can trade currencies, metals, oil, cryptocurrencies, stock indices and earn a profit of up to 90% of the value of the option. QUOTEX has developed a proprietary trading platform which is easily customized, supports 29 technical indicators and allows investments from USD 10. The broker’s team provides support 24/7. Personal and payment information of the clients are protected with two-factor authentication
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.
| Quotex | Swissquote | |
|---|---|---|
| Overall Pros | Affordable minimum investment amount – USD 10 | availability of a license from an authoritative regulator |
| No trading fees and no deposit, withdrawal and account fees | a wide range of financial services | |
| Algorithmic trading is technically impossible | a large selection of deposit currencies | |
| Overall Cons | No Regulatory License | high spreads and commissions |
| large deposit | ||
| few promotions, bonuses, contests, or other special offers |
Quotex vs Swissquote: Safety and Regulation
| Regulated By: | Quotex | Swissquote |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
FINMA (Switzerland) |
Quotex vs Swissquote: Trading Conditions
| Trading Conditions | Quotex | Swissquote |
|---|---|---|
Minimum Deposit |
$10 |
$1000 |
Trading Platforms |
Own platform |
MT4, MT5, Advanced Trader |
Max Leverage (Futures) |
Not provided technically |
1-100 |
Supported Markets |
Currencies, raw materials, stocks |
Forex, CFD, precious metals, stock indices, bonds, commodities, cryptocurrencies |
Trading assets |
80+ |
10000+ |
Trading Accounts |
Single account for binary options trading |
Standard, Premium, Professional, Prime |
Base Account Currencies |
USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND, NGN, MXN, EGP |
USD, EUR, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, CZK |
Quotex vs Swissquote: Fees
Forex Trading Fees
| Fee | Quotex | Swissquote |
|---|---|---|
Standard Account EURUSD Average Spread |
The reward depends on the type of asset and the situation at the time of the transaction. The amount of remuneration - 15-90% of the investment amount |
1.7 pips |
Standard Account Fee |
$0 |
15-50 CHF |
ECN/STP Account Fee |
Not supported |
Not supported |
ECN Account EUR Average Spread |
Not supported |
Not supported |
CFD Trading Fees
| Fee | Quotex | Swissquote |
|---|---|---|
CFD Trading Fee |
Reward - 15-90% |
Floating spread |
Non-Trading Fees
| Fee | Quotex | Swissquote |
|---|---|---|
Account Fee |
No |
15-50 CHF |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
$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.
Quotex vs Swissquote: Trading Assets
| Asset Name | Quotex | Swissquote |
|---|---|---|
Overall |
80+ |
10000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
No |
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 |
Quotex or Swissquote: Investment Programs
| Asset Name | Quotex | Swissquote |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
No |
Other |
No |
Themes Suggestions |
Trading Platforms: Swissquote or Quotex
| Quotex | Swissquote | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
Advanced Trader |
Others |
Own trading platform |
No |
|
|
|
Quotex vs Swissquote: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Quotex | Swissquote |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
No |
Quotex vs Swissquote: Research
| Research Type | Quotex | Swissquote |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Quotex vs Swissquote: Education
| Education Type | Quotex | Swissquote |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
Swissquote vs Quotex: Support
| Support Features | Quotex | Swissquote |
|---|---|---|
Working Days |
24/7 |
24/5 |
No |
No |
|
Phone |
No |
Yes |
Online chat |
No |
Yes |
Other |
Feedback form |
No |
Quotex vs Swissquote: Forex Bonuses and Promo
| Promo | Quotex | Swissquote |
|---|---|---|
Forex Bonus |
Welcome bonus 30% when opening a real account. Cashback, bonus for using "deal cancellation" |
No |
Affiliate Program |
Yes. Payouts up to 80% of income or up to 7% of referral turnover |
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 Quotex
-
Comment
Probably the best trading platform out there, saying this because I've used alot,the user interface is just superb couple with the simplicity, it's just too good,try it out you won't regret
-
Comment
I've been using Quotex for a while now and I'm comfortable with the platform. It's user-friendly and intuitive, which makes the registration process easy. The variety of assets available for trading is exciting, and trading operations have been smooth. I highly recommend it to anyone looking for a reliable app. Deposits and withdrawals are fast and trouble-free, which reassures me that I can easily deposit funds and withdraw profits quickly.
-
Comment
After a year with Quotex, I think it's a decent platform. I mainly trade EUR/USD and EUR/GBP through mt4, and the charts match up perfectly with Quotex's platform, no choppiness or unpredictability issues, unlike other brokers. Also, there's no sketchy stuff going on from what I can tell. You just need to put in the work studying the markets. My process is analyzing on mt4, then quickly executing trades on Quotex. So far my win rate is over 80%. I always test new strategies on the demo account first before going live. I started with just $100 and have grown it to $506 by actually understanding the fundamentals instead of blindly following indicators. While trading always carries risk, Quotex seems legit based on how it matches pricing across platforms.
-
Comment
Quotex is so far the fastest binary broker to navigate through and load, lightest and most convenient with deposits and withdrawals as it offers a wide number of payment options which makes it easy to use from any country in the world as per my experience from a couple of months using it. Quotex also has the fastest withdrawals as per my experience. It has a good looking interface too which doesn't bore or cause eye straining to the user, so you can stay before your screen for a very long time without disturbance. With Quotex, you can trade anywhere since it is very compatible with smartphones. Anyone who trades wisely (with patience, analysis and with no greed) is very more likely to grow financially. Hence I rate Quotex 5 stars!
-
Comment
Quotex platform is user friendly, easy to trade, simple view with Options quite clear for better understanding for beginners as well. Almost all the valuable currency pairs are available with commodities. Even the indicators sections have a variety of options. One of the best things I have found is deposits and withdrawals are fast.
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!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!