Swissquote Bank

The firm is purportedly regulated by the Swiss Financial Market Supervisory Authority (FINMA), which underscores its reliability and high performance standards. A scanned copy of the document is not presented on the site Swissquote Bank official website contains information only about the fact of receiving the certificate.

A check of open registers did not confirm the existence of a financial regulation license. Fraudsters made this up to simply convince gullible newcomers of honesty and transparency of cooperation.

Scammers claim the following benefits:

• the office has a presence on three continents, which indicates its global reach and international recognition;
• customer service is provided in several languages, which ensures accessibility and convenience for traders from different countries;
• protection of the client’s rights thanks to activities in a proven jurisdiction, but we have already found out that the FINMA license is a cheap trick.

The advantages are very dubious and streamlined. With their help, scammers try to confuse a potential client. The disadvantages are more obvious and obvious. You can’t turn a blind eye to them:

• management anonymity;
• illegal activity in the Russian Federation – no license from the Central Bank;
• questions regarding legal registration;
• lack of compensation fund;
• Sharaga continues to work in Russia without SRO status, thereby violating the law.

Bank Swissquote has succeeded more as a financial and credit institution with favorable products for Swiss residents. As for brokerage activities, in this area the company is inferior to industry leaders in all respects.

Terms of trading with broker Swissquote Bank

The administration of the office promises to provide access to a variety of trading platforms, including Advanced Trader, MetaTrader 4 and MetaTrader 5, which provide effective algorithmic trading without restrictions. The listed terminals are ideal for both beginners and experienced traders, offering advanced tools and indicators, as well as a fully customizable interface.

However, investors have questions about the accuracy of quotes, systematic failures, and slippage. The culprits of the listed problems are not the platform developers, but the broker, since the office independently manages quotes and software. The scammers refused to cooperate with liquidity providers.

Sharaga offers additional investment offerings: trading stocks, ETFs, funds, bonds, options and futures, as well as trading cryptocurrencies.

Key trading parameters:

• minimum deposit – $1000;
• maximum leverage – 1:100;
• Islamic accounts are not supported;
• spreads – 1.1-1.9 points.

The conditions for trading with a broker can hardly be called profitable. The company has seriously raised the minimum entry threshold, making cooperation unavailable for novice investors with small starting capital. The leverage is too high, and it also violates the norms and standards of European regulators.

Spreads are significantly higher when compared to real regulated brokers. Taken together, these aspects make trading on the site unprofitableSwissquote Bank personal account It’s better not to open here, because the investor will pay with his capital.

Swissquote Bank broker exposed

Despite its status as a Swiss company and promises of complete security for customers, the counterparty faces a number of serious accusations and dissatisfaction from its users. The company is supposedly regulated and offers competitive trading conditions, but its rating is rather modest. This is due to the fact that the experts recognized the company’s lies. The scammer does not have any licenses.

One of the main complaints from clients is the high spread size, which significantly reduces potential profits. In addition, clients point out problems with withdrawal of funds, because this is a critical drawback for any broker. Some users also accuse the company of using deceptive business practices, comparing the company to kitchen brokers who manipulate prices and trading conditions in their favor.

The registration procedure also raises questions as it requires sending personal documents to the sharaga office, which creates inconvenience and raises concerns about privacy. Investors have reported cases where the company blocks accounts without explanation, leaving traders without access to their funds and trading operations.

The support team has also been criticized for being slow to respond to customer queries, making it more difficult to resolve problems. Finally, the authenticity of the declared documents has not been confirmed, which increases the risks of cooperation withSwissquote Bank investing in this platform is a big mistake.

The legend about the Swiss origin of the company is a cheap enticement for beginners. Traders should not be fooled by fairy tales. The office operates on the principle of a forex kitchen, and it is run by scammers. Therefore, you should not count on stable profit payments.