1040
Reviews
Honest dealings, no hidden fees, open market
The UI is great and the product offerings is very diverse. With the trading cashback, the fees are essentially 0.
Stock trading fees is very high 9 usd per one trade 🥲 Need to reduce to 2 usd maximum
Efficient service
It was a Very Good experience
I use Swissquote (SQ) as my secondary broker and I have to say that the prices are by no means competitive. Especially the deposit fee with a stock of fixed assets > 1 Mio. is not acceptable. Therefore I initated with the official form of SQ a portfolio transfer to Saxo which is much cheaper. After one day I received from Saxo a notice that the transfer was interrupted because SQ said that the transfer was unknown to them. I then phoned to SQ and they acknowledged that they had received my transfer order. I asked them why it was stopped without to inform me before. The answer: They would like to know the reason why I want to transfer the portfolio! This behavior and communication is for me totally inacceptable and they gave me another reason to change SQ.
Great UI/UX and market coverage
I opened online trading, savings and FX accounts with Swissquote remotely from Hong Kong in late 2024. Yet, a few months later, they set a blank restriction on all clients originating from Greater China. As a result, I could not perform any transaction. I phoned and emailed the bank personally, but only received a mass email that all online accounts of Greater China clients are banned from the virtual debit card and crypto functions. At my wit's end, I deleted the app, thinking that they'd close my accounts. Yesterday when I happened to download the app and found my trading account with a negative balance of CHF59. I frantically sold the only share I had with the trading account. And I tried transferring the meager few CHF (totally no more than five CHF from my savings and FX accounts), yet to no avail. Indeed, I can do nothing. I cannot perform any transfer because the trading account in deep red, as I found out from the transaction history that they deducted CHF20 every three months for no activity. For god's sake, how can you expect me to perform any transaction with a restricted account? I'm not a money bag and cannot afford those hefty account management fees. I only opened the account because of the reputation of Switzerland as a secure wealth management hub. Yes, I thought it's secure till everything got restricted. How can you be so heartless as to do this to a client? Don't you have family? Don't you have ailing parents to support like I do? Don't you have conscience? Where is your personal touch? Where is your so-called customer care when all you care is the account management fee every three months for doing nothing?!!!! Well, I can hardly log onto my Swissquote account via any webpage here in Hong Kong or Mainland China. Each time I tried, the webpage loading got jammed. I failed every single time, either to write an internal email or find the account closure button. Yesterday after my shift ended, I even tried to phone the customer care hotline, again I failed to be connected. I tried three times and wasted half an hour. I have been horrified. I can't afford such hefty account management fees. Even a single transfer requires the payment account approval from them before hand. Such accounts are in effect useless and become a financial trap, landing clients deep into a black hole of negative balance...
Love the tech and convenience.
These folks opened me a bank account in Dubai office. Guess what - only now I found out that the account "sits" in Switzerland. They are shysters, and they don't care. In 2021 I placed USD 10,000 worth of crypto on the account and in 2022, reacting to anti-Russian sanctions, they sold my assets. With just one comment - sanctions were clear - any portfolio of any Russian citizen with value more than 10,000 Euro - cannot be kept by the bank - SWISS BANK - NOT THE UAE BANK. First, they pretend to be the UAE bank at the opening of the account - they are not. So, any of those sanctions did not affect UAE banks, UAE has not supported any sanctions. But it gets even better - in 2022 my portfolio dropped in value to USD 3598 and this exact amount was put on my account forcefully. By the way through sales in USD and Euro - and nobody still can explain why in these two currencies. I wrote them a proper legal letter - they responded back and their compliance team COPIED half of my own text. So not only arrogant, law-breaking (in 2022 in the UAE legislation of safe custody of digital assets came into force - but guess what they don't care - "your account is in Switzerland"), they are not very intelligent either. I NEVER AGREED to have account in Switzerland. I will keep it now - for the fun of it - but I was never clearly told that this is what I'd get by coming to their office in DUBAI and this is how they do business. Their moto should be "We are not a bank in the UAE, we are not safe and we are shysters". That would be an honest disclosure. When I contacted them in 2024 (that's where crypto gave me the fruits I thought) - their argument was "we were so scared and confused with the sanctions and we warned you... and because you did not respond - we have sold your portfolio for the lowest price possible" (yes they did - through their system which I tried to log into few times - never worked). Well, shysters.
Easy to use. Could be easier for joint and family accounts
Easy, fast and transparent.
Swissquote repeatedly and insistently demands proof of origin of funds, requesting much beyond what is required by KYC. I'm a citizen of an EU country, I have transferred savings to my Swissquote Luxembourg account from my own bank account in EU-based bank, the amounts of low thousands of EUR. Every now and then I receive an email from their customer service requesting more proof of origin of funds. No details, no numbers, no legal justification, just "provide more proof of origin of funds". I submitted multiple times documents from their list of accepted documents but then after some time another request arrives. The email requesting proof of origin is brief and vague but it looks that meanwhile they suspend the Swissquote account. The incoming bank transfers don't arrive neither they are bounced back to the bank account, the outgoing transfers don't arrive to the bank account. At this point they have much more financial and personal information about me than I feel comfortable sharing with them, and yet the funds I deposited are not accessible. Accepting the initial deposits entraps the client into fallacy of sunk cost as then Swissquote follows with their predatory requests. Now cherry on top. Their "multi currency virtual debit card" doesn't deduct from the balance in corresponding currency. The card transactions are always converted to EUR and if needed are creating negative balance in EUR with very aggressive interest, leaving the balance in the currency of the transaction untouched. Customer service still insists that the card picks automatically the balance in the right currency. This is hopeless. I absolutely do not recommend using Swissquote services. They keep on creating problems and are litigious. Their practices are predatory.
The bank takes ages to whitelist a wallet address and even after the whitelisting you need a lot of patience for the execution of a crypto-transfer. In my case it has been now over a week and still counting.
The same problem with me - they asking to prove my savings - my long time savings from my salary, saved in my bank account in EU registered bank! I transferred my saved money from EU registered bank to Swissquate bank account and now must proof that these money is mine - it is unbelievable! they asking to prove that EU citizen money saved in in EU registered bank are "clean" - it is absolutely bullshit. keep away from them
I (EU citizen), opened an account with "Swissquote" (Luxembourg) at the end of August to serve as my investment broker and I deposited ~100k EUR from my main home bank (which is one of the oldest Scandinavian banks) and invested in ETF. At the end of October, I received a letter requiring me to "prove the origin of funds," or else my account "may be blocked." I spent half the day gathering documents from my home bank to show that the funds were mainly from my salary (I provided bank statements showing my income for the past five years, tax declarations for the past five years, salary slips for the past six months, and a bank account statement showing my cash balance at the beginning of 2025). I also provided an Excel spreadsheet with a summary, so everything was very transparent and clear. Last night I repeatedly received the same letter with the same proof requirements and no comments explaining what exactly they wanted in additional or what is wrong with provided documents...so I have second notice that they may block my account... Meanwhile, a week ago (November 9), their online banking stopped working. All I got was a message saying, "No such account." There were no notifications or support; just "No such account" - with my 100,000 eur. I have wrote them letters, called, but no any answer (ok, it was weekend) and later system started working himself .... A bank employee approached me via telephone after five days "to help with my account" with all my savings... If you want the same experience, go ahead. But I am selling all my assets and leaving this bank.
As a long time customer I can say how good is Swissquote service. Never had any major issues or always solved on time. Custome service is very good, smooth communication and the mobile app improves a lot even if it still needs some improvement. Swissquote is also your trust partner for your crypto or any investments. I recommended this bank to my friends many times.
I did the Satoshi test now 6 days ago and it went through! But the bank is still not validating it and is blocking the transaction. SHAME ON SWISSQUOTE AND NEVER AGAIN!
I like the easy of manage, but dislike that the bank takes fee in every transaction or trading.
Service is expensive, UX is unintuitive and readability is significantly worse than competition products. The app needs an overhaul top to bottom.
Clear, practical, lot of products, great customer service.
Easy to use, a wide range of US products accessible.
One of the best world banks, amazing services, low fees, free card payments, free transfers and many other outstanding features...thank you
Easy trading - good overview.
Simple and easy to place orders. User friendly tool for retail investors.
Just great experience
Just a Quick question, how long does it take to open an account?
Ease of use and speed of trades.
Just impossibile to use. The user experience of this app seems something so obsolete. I have regrets starting the account with them but it's a learning. Beside the ux of the app, even the information that are given are just clunky and unhelpful. I just don't know how in 2025 they can offer such bed product
Great products and great service