There are several reasons to trade stocks on Swissquote:
- The web interface can be used immediately and has all the necessary functions.
- A program for use on Apple and Google mobile devices.
- Desktop software designed for Forex trading.
Overall, everyone can find something they like. They should be easy enough for most people to use—web interface. Many people will also like the apps that let you do everything you need on your phone.
The only bad thing is that so many features packed into the web interface can be hard to use.
But once you find the features you want, you should be able to use them without any problems. If you want to invest passively, you won’t need many of the features.
How secure is Swissquote?
When you put a lot of money into a broker, you must ensure it is safe.
In Switzerland, FINMA keeps an eye on Swissquote. It is also regulated in other countries by its different parts.
Since Swissquote has been around since 1996 and has been making money for several years, it is unlikely that it will go out of business. But you should still know what would happen if your broker went out of business.
Since Swissquote has a banking license, Esisuisse will protect up to 100,000 CHF of your cash. Since your securities are supposed to be held in the custodian bank account in your name, they should be fully guaranteed. It provides a good level of safety.
You can choose a second-factor authentication (2FA) for your account’s technical security. I think everyone should do that to make their even forex demo account more secure. We haven’t heard anything terrible about Swissquote’s security, which is a good sign.
So, investing with Swissquote is safe in general. As for investing, remember that you could lose money no matter where you do it.
Reputation of Swissquote
Before investing in the stock market, it’s important to check out a broker’s reputation.
One should always use a trustworthy review source. So, let’s check out what people have said about SQ. Users give SQ 3.2 stars on average, which is not a great score. So, let’s find out what people think of this broker.
First, we should look at what people have said about the broker. We can put the complaints into a few different groups:
- It takes a very long to open an account. Several people had to wait a few days before opening their accounts.
- Costs are very high. Some of this is true, but people should consider this before opening their accounts. And the fees are reasonable compared to those of other Swiss brokers.
- Bad service to customers. Customer service was hard for a lot of people to work with.
- Not a good place to invest.
- Some investors aren’t happy with what the platform has to offer, especially when it comes to cryptocurrencies.
Overall, the reviews about how good the customer service is and how easy it is to open an account make one a little nervous. The other complaints don’t bother, because the people who made them didn’t do enough research before opening an account with Swissquote. We need to keep in mind that top comments on the Internet come from unhappy people. So, you should take negative comments with a grain of salt, even if they have some truth.
The good thing is that 36% of the reviews give it five stars. Overall, reviews that are good.
- The platform makes it easy to trade.
- An excellent platform and business.
- It’s interesting that most of the good reviews focus on the platform itself and how easy it is to use. Many say the platform is easy to use and a good sign.
Overall, I’d say that the user reviews of Swissquote are good but not great.
Pros of Swissquote
Let’s sum up the good things about Swissquote:
- Compared to other Swiss brokers, they are cheap.
- Opening an account is pretty quick.
- A considerable number of investments
- The company has been around for a ages
- And has a good reputation.
- Let’s sum up the problems with Swissquote:
- Expensive fees for changing money
- Compared to foreign brokers, they are more expensive.
- Video ID can take a long time to finish.
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