Swiss Markets Broker Review


Minimum Deposit
$100
Regulators
CySEC
EURUSD Spread
0.2
US Traders
No
Platforms
MetaTrader 4
Founded
2016
Country
Cyprus

Serving as the trading unit of BDSwiss Holding PLC group that was founded in 2012, Cyprus based Swiss Markets was established as a brand in 2016. The company was started with the goal of offering its customers a competitive means for reliable, secure and transparent trading through an STP or Straight Through Processing broker.

Swiss Markets’ intention is to offer its customers the highest level of quality in a brokerage service, employing the industry benchmark MetaTrader4 trading platform for transactions. The company’s goal is to give their clients as many asset classes as possible to trade, including a premiere forex trading service, as well as CFD trading in precious metals, commodities, energy and stock indexes.

A screenshot from Swiss Markets’ official website can be seen below:

Swiss Markets Website

Please note that SwissMarkets.com does not currently accept clients from the United States. If you are in the United States, you will want to select another broker.

Features

The list of assets available to trade from Swiss Markets includes: 18 major, 19 minor and 40 exotic forex currency pairs; soft commodities such as cocoa, sugar, orange juice, coffee and cotton, as well as copper; 23 high volume world stock indexes including JPX 225 and SPX500; energy assets such as natural gas, Brent crude and U.S. Oil; and precious metals including gold, silver, palladium and platinum.

Swiss Markets offers leverage of up to 200 to 1 in most of its account types, with one account offering up to 500 to 1 (the Classic Account). Each ticket is limited to 50 whole lots in size, the minimum trade size is 0.01 of a lot, and traders are subject to a 200 lot open position limit in any one currency pair.

The company’s STP dealing spreads are very competitive for the major currency pairs like EUR/USD, while dealing spreads for minor and exotic pairs are wider and can vary considerably depending on market liquidity. Typical spreads for most major currency pairs range from 0 pips for EUR/USD to 2.4 pips for GBP/NZD, which is the broker’s highest published dealing spread for a major currency pair.

Accounts

Swiss Markets gives customers a choice of four different account types that vary in features and initial deposits. All account types can be funded in the following base currencies: CHF, DKK, EUR, GBP, NOK, PLN, SEK and USD. Hedging is allowed in all accounts, and an Islamic option is also available for all account types. Each whole lot contract is equivalent to 100,000 units of the base currency per one lot. The four different account types are listed as follows:

  1. Classic STP – this account gives clients leverage of up to 500 to 1 and requires a minimum deposit of $200. Dealing spreads for this type of account have a minimum of 0.09 pip on EUR/USD and commissions on this type of account depend on the base currency. Position limit for this type of account is 200 positions with a maximum ticket size of 50 lots.
  2. RAW STP SWISS11 – the SWISS11 account has many of the same features as the Classic account, including the initial $200 deposit amount. Although a commission of up to $11 commission is charged per transaction, dealing spreads on EUR/USD can be as low as zero pips. Also, leverage for this type of account is 200 to 1.
  3. RAW STP SWISS8 – this account shares many of the features of the previous two types but requires a minimum deposit of at least $2,000. Leverage is 200 to 1, with spreads as low as zero pips on EUR/USD. A maximum of $8 commission is charged per trade, with position limits and lot restrictions being the same as with the Classic and SWISS11 accounts.
  4. RAW STP SWISS 5 – a minimum deposit of at least $10,000 is the requirement for this type of account. A maximum of $5 commission per trade is charged with dealing spreads as low as 0 pips on EUR/USD. Other restrictions and limits in this account are identical to the previous three.

Traders unfamiliar with MetaTrader4 can open a demo account with Swiss Markets to practice trading or test a trading strategy out. The trader can later opt for opening a live account.

Transactions

Several options are available to open and fund an account at Swiss Markets, which include: MasterCard, Maestro and Visa credit cards; wire transfers through Swift Bank Wire Transfer; and international payment companies such as, eps, giropay, postepay, SOFORT, Przelewy24, Skrill and Neteller. No charge is made for deposits, which are immediately credited to the account, except for wire transfers that can generally take from one to four days to complete.

A minimum of $200 is required to open a live account. Once open, there is no further minimum for deposits after the initial $200 for a Classic or Raw STP Account. Customers must use the broker’s Client Portal to make additional deposits.

The withdrawal process involves returning funds to the original funding source after all the account holder’s identification and other verifications have been placed on record. These documents must be submitted upon opening the account. There is no charge for withdrawals, which can be made to Visa, Mastercard, Skrill, Neteller and through a Swift Bank Wire Transfer. Except for the bank wire transfer that can take longer, withdrawals typically takes 24-hours to complete.

Platform

Swiss Markets uses the industry standard MetaTrader4 from MetaQuotes as their primary trading platform. The MT4 trading platform is available in a desktop version for Windows and Mac, a mobile version for iOS and Android, and in a web format that will work on both mobile devices and desktop computers.

This excellent trading platform offers comprehensive technical analysis capabilities, has a customizable interface, and come with a wide array of features including advance algorithmic trading functions and real time position monitoring. MetaTrader4 can also be used to run automated trading programs known as EAs or expert advisors, and even gives traders the option of developing and/or customizing their own.

A screenshot of Swiss Markets’ MT4 trading platform can be seen in the graphic below:

Support

According to their website, direct contact telephone support is available in the UK, Switzerland, the Czech Republic, Hungary, Poland, Spain, Germany and Russia. A fax number is also available in the UK, but not for the other locations.

The “Contact Us” page on their website did not specify the hours of operation of the customer service department. Also, the live chat feature did not seem to be functioning and instead asked for an email address and message that was answered via email several hours later.

Information

Despite the company’s About Us page stating that education is, “a central concern for us”, and that Swiss Markets provides, “advanced educational resources, comprising of regular seminars, webinars and trading-related content”, no menu, button or other indication of a section on education could be readily found on their website.  The broker also does not seem to provide any market commentary, news feeds or trading tips.

Safety

BDSwiss Holdings PLC, the parent company for Swiss Markets, is registered and incorporated in Cyprus with incorporation no. HE300153, and it is regulated by the Cyprus Securities and Exchange Commission or CySEC under license number 199/13.
As a Cyprus investment firm, Swiss Markets must comply with all the relevant European and local laws and regulations, including the MiFID or Markets in Financial Instruments European Directive. It must also fully comply with the EU’s Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(1)/2007).
Swiss Markets also gives its clients “Negative Balance Protection”, which means that regardless of underlying market conditions, client account balances cannot drop below zero. In addition, due to its oversight by CySEC, customer funds are kept in segregated accounts.

Overall

Swiss Markets gives the appearance of a top-notch forex and CFD broker. The company offers a demo account in addition to four other account types and a sign-up bonus of commission free trades for 14 days after opening a live account.

The broker’s use of the MetaTrader4 trading platform and the STP aspect for executing trades, is a significant advantage for most serious forex traders, but the fact that it charges per trade commissions might deter very active traders from using this broker.

Also, the live chat feature on its customer service page was not functioning properly, only providing an email response after several hours. In addition, the educational material that is mentioned in the “About Us” section could not be located on the company’s website.

Overall, the firm does not presently seem very suitable for novice traders due to the apparent lack of educational support, but it may well suit a very price sensitive trader who is not so active as to make the broker’s per-trade commissions seem prohibitive.