Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Switch Markets Pros & Cons
- Deposit from $50.
- With leverage of up to 1:1000, you can open trades on major assets within the framework of the rules of risk management.
- High execution speed averaging 70-80 ms.
- A good range of auxiliary tools such as profit calculators, lot calculations, points, trading advisors, and a training base with practical tools for analyses.
- Free VPS-server with a delay in order execution to a maximum of 3-5 ms.
- Welcome bonus up to 5,000 US dollars.
- Relatively high spread on the standard account.
Switch Markets is a relatively young broker, which entered the OTC market in 2019. In addition to standard trading products, the company is developing unique technical trading solutions. The company already has its proprietary risk management system, author's trading advisors, and auxiliary calculators. All this is available to every client of Switch Markets.
TU Expert Verdict
Switch Markets demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
Top-5 Brokers Traders Prefer
Switch Markets User Reviews
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5-star
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3-star
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1-star
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria7 /10The trading and non-trading commissions of Switch Markets have been analyzed and rated as having Medium fees, with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No withdrawal fee
- Deposit fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Switch Markets with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Switch Markets’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Switch Markets Standard spreads Switch Markets OANDA FOREX.com EUR/USD min, pips 0.3 0.1 0.7 EUR/USD max, pips 1.4 0.5 1.2 GPB/USD min, pips 0.5 0.1 0.9 GPB/USD max, pips 1.5 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Switch Markets RAW/ECN spreads Switch Markets OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3.5 3.5 5 EUR/USD avg spread 0.2 0.15 0.2 GBP/USD avg spread 0.4 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Switch Markets. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Switch Markets Non-Trading Fees Switch Markets OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0-0.8 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is Switch Markets Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria8.7 /10Switch Markets has a safety score of 8.7/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record of less than 8 years
Switch Markets Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level ASIC
Full Name Australian Securities and Investments Commission Country of regulation Australia Investor Protection Fund No specific fund but has stringent consumer protection Regulation Level Tier-1 SVG FSA
Full Name Financial Services Authority of St. Vincent and the Grenadines Country of regulation St. Vincent and the Grenadines Investor Protection Fund No specific fund Regulation Level Tier-3 Switch Markets Security Factors Foundation date 2019 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.3 /10Switch Markets offers the following account options: Demo, Standard, ECN/Raw spread, Cent, Micro, Swap Free, VIP.
Switch Markets covers the core account types, making it convenient for traders with different preferences and strategies.
- Low minimum deposit
- Tight spread ECN account
- Exclusive VIP account with enhanced trading conditions
- Complex account structure
Switch Markets account types vs top competitors Switch Markets Plus500 Trading.com Standard YesYesYesECN/Raw spread YesNoNoDemo YesYesYesCent YesNoNoMicro YesNoNoSwap Free YesNoNoVIP YesNoNoManaged NoNoNoSwitch Markets accounts trading conditions
Before you open an account with Switch Markets, register on the Traders Union website and go to the registration window using the affiliate link. This will allow you to receive partial compensation against spreads in the future. The account options are standard and professional. Almost all trading terms are the same; the difference is in the commission policy.
Types of accounts:
Account Type Description Standard floating spread from 1.4 pips without a fixed commission. A slight widening of the spread in the period of increased volatility is allowed. For certain "exotic" assets, the spread may start at 2.0-2.2 pips. Pro the floating spreads are from 0 pips; the fixed commission for each lot spent on the account is $7. Cent The account is denominated in USD and supports trading exclusively on the MT4 platform. With a minimum deposit of just $50, traders can access 38 tradable assets, making it suitable for beginners or those testing new strategies. This account type is not eligible for free perks. Demo accounts are available for all terminals.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology7 /10Switch Markets received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Switch Markets provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Bank card deposits and withdrawals
- Supports 5+ base account currencies
- Low minimum withdrawal requirement
- Minimum deposit below industry average
- USDT payments not accepted
- Wise not supported
- Limited deposit and withdrawal flexibility, leading to higher costs
What are Switch Markets deposit and withdrawal options?
Switch Markets provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC.
Switch Markets Deposit and Withdrawal Methods vs Competitors Switch Markets Plus500 Trading.com Bank Wire YesYesYesBank card YesYesYesPayPal NoYesNoWise NoNoNoBTC YesNoNoWhat are Switch Markets base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Switch Markets supports the following base account currencies: USD, EUR, GBP, AUD, CAD.
What are Switch Markets's minimum deposit and withdrawal amounts?
The minimum deposit on Switch Markets is $50, while the minimum withdrawal amount is $0. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Switch Markets’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria8.3 /10Switch Markets provides a standard range of trading assets in line with the market average. The platform includes 1000 assets in total and 60 Forex currency pairs.
- Copy trading platform
- Crypto trading
- ETFs investing
- Futures not available
- Bonds not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by Switch Markets with its competitors, making it easier for you to find the perfect fit.
Switch Markets Plus500 Trading.com Currency pairs 60 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 1000 2800 69 Stocks YesYesNoCommodity futures YesYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesNoStock indices YesYesNoOptions NoYesNoInvestment options
We also explored the trading assets and products Switch Markets offers for beginner traders and investors who prefer not to engage in active trading.
Switch Markets Plus500 Trading.com Bonds NoNoNoETFs YesYesNoCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at Switch Markets by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.8 /10We successfully registered an account with Switch Markets in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at Switch Markets is $50. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Registration process may take longer than expected
- Account approval may require extra time depending on the documentation.
Switch Markets account opening Switch Markets Plus500 Trading.com Online Registration YesYesYesMinimum deposit $50 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 20 20 KYC time (days) 2 3 2 Is Switch Markets available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
Start your partnership with the Switch Markets broker by pre-registering on the Traders Union's website. After registering, find the affiliate link in the broker's overview and open an account. In the future, this will allow you to receive bonuses in the form of rebates as partial compensation for the spreads.
Algorithm of registration at Switch Markets broker:
Click "Create Live Account" or "Create Demo Account” on the broker's main page. When you open a demo account, you will get information with access to the trading platform – account number, password, investment password, and server.
To gain access to your user account, opening a real account is required. Fill out the registration form.
After completing the basic registration form you will receive an email with your username and password, which will prompt you after authorization to fill out the full questionnaire data for verification. It involves 6 steps. The filled-in form must be sent for verification. And only after its confirmation the broker will provide access to your new user’s account.
Features of Switch Markets’ user account:
- Account management. From your user account, you can open any number of real and demo accounts. There is an archive of accounts with the ability to view the history of each..
- Transaction management. Here you can generate withdrawal requests, free internal transfers between accounts, and view movement history..
Also in the user account, you will have access to:
- Trade statistics for all accounts with the ability to filter by date, assets, etc.
- The installation files of the mobile version of MT4.
- FAQs. Answers to basic questions on accounts and trading. You can also find the answers in the FAQs section on the broker's website. Each section has its list of the most FAQs.
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Customer Support
Score:We evaluated Customer Support at Switch Markets by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria6.6 /10Customer support at Switch Markets is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. Switch Markets provides basic support functionality but does not stand out in overall service performance.
InformationThe support team answers questions on business days 7 days a week, around the clock.
- Support responds quickly
- No contact phone numbers
There are several ways to contact client support specialists:
- Feedback form on the broker's website.
- Online chat.
- Email.
- Social networks.
Registration is not required to receive an answer to your question.
Contacts Foundation date 2019 Registration address Suite 126, 117 Old Pittwater Road, Brookvale, NSW2100, Australia Regulation ASIC, SVGFSA Official site https://www.switchmarkets.com/ Contacts Support@switchmarkets.com +44 1902 943 383
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FAQs
How do regulation and safety reviews describe the protection level at Switch Markets?
Switch Markets has a safety score of 8.7/10, which corresponds to a high security level in the reviewed methodology. It is regulated by ASIC (Tier-1) in Australia and SVG FSA (Tier-3) in St. Vincent and the Grenadines, and offers negative balance protection and KYC verification, but has a relatively short track record since its 2019 foundation and no specified investor compensation fund.
What do reviews of Switch Markets’ commissions and fees reveal about its trading costs?
The review rates Switch Markets’ overall fee level as medium, with a fees score of 7/10. Standard account EUR/USD spreads typically range from 0.3 to 1.4 pips, RAW/ECN accounts charge a $3.5 commission per lot with average EUR/USD spreads around 0.2 pips, and non-trading fees include a 0–0.8% deposit fee but no withdrawal or inactivity fees.
How are the different account types at Switch Markets structured according to expert reviews?
Switch Markets offers a range of accounts including Demo, Standard, ECN/Raw (Pro), Cent, Micro, Swap Free (Islamic), and VIP, which the review notes can make the structure relatively complex. The Standard account has floating spreads from 1.4 pips with no fixed commission, while the Pro account features floating spreads from 0 pips with a $7 commission per lot, and the Cent account is MT4-only, USD-denominated, with a $50 minimum deposit and 38 tradable assets.
What deposit and withdrawal conditions are outlined for Switch Markets?
The review states that Switch Markets supports deposits and withdrawals via bank cards, bank wire, Skrill, Neteller, and BTC, with a minimum deposit of $50 and no minimum withdrawal amount. A deposit fee applies, while withdrawal and inactivity fees are listed as 0, and BTC is accepted as a payment method but not as a base account currency.
What markets and tradable assets are available at Switch Markets based on the latest review?
According to the section on markets and assets, Switch Markets offers around 1,000 tradable instruments, including 60 Forex currency pairs, stocks, commodity futures, cryptocurrencies, and stock indices, but does not provide options or bonds. The review also notes that ETFs and a copy trading platform are available, while PAMM and managed accounts are not offered.
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