Best Swiss Forex Brokers for 2024 (Top 10) - Online Forex Rating

Switzerland's reputation as a global financial hub extends to its Forex market, which is known for its stability, security, and stringent regulations. The Swiss Financial Market Supervisory Authority (FINMA) oversees all financial institutions, ensuring that Forex brokers operate with transparency and adhere to strict guidelines. Swiss Forex brokers are renowned for offering high levels of privacy, competitive trading conditions, and a strong legal framework.

Before diving into the Forex market, traders in Switzerland must select a broker that meets their specific needs and complies with local regulations. To assist with this, we've compiled a list of the best Forex brokers in Switzerland for 2024, each offering a combination of reliability, advanced trading tools, and favorable conditions.

Best Swiss Forex Brokers

Best for beginners, user-friendly platform

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Best for low spreads & commission

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Best for professional traders, wide range of markets

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Best Swiss Forex Brokers Compared

Forex Broker

License

Minimum Spread

Maximum Leverage

Minimum Deposit

Open account

Details

Compare

8.26

Regulated

0.6

1:400

8.14

Regulated

0.0

1:500

8.25

Regulated

0.9

1:100

8.46

Domestic Regulation

0.0

1:200

$100

9.10

Regulated

0.0

1:1000

$200

7.05

Regulated

0.0

1:1000

1,000 EUR/USD/GBP/CHF

7.51

Regulated

0.3

1:200

N/A

8.88

Regulated

0.0

1:500

$100 AUD or equivalent

7.95

Regulated

0.0

1:200 (Retail)/1:500 (Professional)

7.54

Regulated

0.75

1:30

$10

Open account

Details

+ Compare

Best Swiss Forex Brokers Reviewed

① IG

IG is a UK-based Forex broker known for its user-friendly platform and comprehensive education resources, making it a good option for beginners.

	⭐⭐⭐⭐⭐
Account Minimum	$0
Tradable Instruments	Forex, shares, indices, commodities, thematic and basket, options, futures, spot, cryptocurrencies
Demo Account	✅
Spreads	From 0.6 pips (EUR/USD)
Trading Platforms	Online trading platform, mobile trading app, progressive web app, ProRealTime, MT4, L2 Dealer
Payment Methods	Credit/debit cards (MasterCard/Visa), bank transfer
Customer Support	24 hours a day, except from 6am to 4pm on Saturday (UTC+8) - live chat, phone, email, WhatsApp, Help & Support

Pros

√ No account minimum

√ Wide range of market offerings

√ Extensive educational resources

Cons

× MT5 is not supported

× Limited payment options

② Fusion Markets

Fusion Markets is an Australian broker known for its extremely low-cost entry point and easy-to-use platforms.

	⭐⭐⭐⭐⭐
Account Minimum	$0
Tradable Instruments	250+, forex, metals, indices, energy & soft commodities, cryptocurrency, US Share CFDs
Demo Account	✅
Spreads & Commissions	From 0.9 pips (Classic account) & $2.25 commission per side
Trading Platforms	MT4, MT5, cTrader
Copy Trading	✅
Payment Methods	Visa, MasterCard, PayPal, Skrill, Neteller, Bank Transfer, Sticpay, Perfect Money, Fasapay, etc.
Deposit Fee	❌
Customer Support	Live chat, phone, email

Pros

√ Low-cost trading

√ User-friendly platforms

Cons

× Limited analysis tools

× Not as many educational resources as some competitors

③ Saxo

Saxo is a Danish-based Forex broker offering a robust and user-friendly platform. They have a reputation for excellent customer service and extensive market research tools.

	⭐⭐⭐⭐⭐
Account Minimum	$0
Tradable Instruments	Investment products: stocks, ETFs, bonds, mutual funds, crypto ETPs
Tradable Instruments	Leveraged products: options, futures, forex, forex options, crypto FX, CFDs, commodities, turbos
Demo Account	✅
Spreads & Commissions	From 0.9 pips (Classic account) & commission-free (forex)
Trading Platforms	SaxoInvestor, SaxoTraderGO, SaxoTraderPRO
Payment Methods	Bank transfer, quick payment, card funding
Deposit & Withdrawal Fee	❌
Customer Support	24/5 - Support Center

Pros

√ Wide-ranging product portfolio

√ Excellent customer service

Cons

× Limited educational resources for beginners

④ Forex.com

Forex.com provides a mix of interesting currency pairs, a reliable trading platform, and useful educational materials, delivering a strong package for forex traders.

	⭐⭐⭐⭐⭐
Account Minimum	$100
Tradable Instruments	Forex, indices, stocks, cryptocurrency, commodities, gold & silver
Demo Account	✅(90 days risk-free trading with $50,000 in virtual funds)
Spreads	Floating around 1.0 pips (EUR/USD)
Trading Platforms	Web Trader, Mobile App, TradingView, MT4, MT5
Payment Methods	Local online transfers, credit/debit card, wire transfer, Neteller, Skrill
Deposit Fee	❌
Withdrawal Fee	Credit/debit card: ❌
Withdrawal Fee	Wire transfer: additional fees may be applied by receiving bank
Customer Support	Live chat, contact form, phone, email

Pros

√ Wide range of market offerings

√ Good trading platforms

Cons

× High minimum deposit requirement

⑤ IC Markets

IC Markets is an Australian-based Forex broker renowned for its transparent pricing structure and robust platform, making it an excellent option for seasoned traders.

	⭐⭐⭐⭐⭐
Account Minimum	$200
Tradable Instruments	CFDs on forex, commodities, indices, bonds, stocks, and futures, digital currencies
Demo Account	✅
Spreads & Commissions	From 0.8 pips + no commission (Standard account)
Trading Platforms	MT4, MT5, cTrader, TradingView
Payment Methods	Credit/debit cards, PayPal, Neteller, Skrill, UnionPay, Wire Transfer, Bpay, Broker to Broker, POLI, Thai/Vietnamese Internet Banking, Rapidpay, Klarna
Customer Support	24/7 - live chat, contact form, phone, email, Help Centre

Pros

√ Excellent pricing

√ Popular trading platforms including MT4, MT5, cTrader, and TradingView are all available

Cons

× Higher minimum deposit requirement than most brokers

⑥ Swissquote

Swissquote is a Swiss-based Forex broker providing traders with reliable and efficient trading environments.

	⭐⭐⭐⭐
Account Minimum	1,000 EUR/USD/GBP/CHF
Tradable Instruments	Stocks, currency pairs, precious metals, stock indices, commodities, bonds
Demo Account	✅
Spreads & Commissions	From 0.6 pips + commission-free (Prime account
Trading Platforms	Mobile App, MT4, MT5, Money Managers
Payment Methods	Debit card (Visa, MasterCard), bank wire transfe
Customer Support	Live chat, phone, email

Pros

√ Reliable trading platforms

√ Ingest selection of tradable assets

Cons

× High trading fees

× Complex fee structure

⑦ Dukascopy

Dukascopy is a Swiss forex broker catering to high net worth individuals and professional traders, offering a wide array of research tools and deep liquidity.

	⭐⭐⭐⭐
Account Minimum	/
Tradable Instruments	Forex, indexes, metals, stocks, ETFs, binaries, bonds, cryptocurrencies
Demo Account	✅
Spreads & Commissions	Average around 0.3 pips & a default commission rate of 0.7 pips
Trading Platforms	JForex4, MT4, Web Binary Trader
Payment Methods	Wire transfers, payment cards (Maestro, MasterCard, Visa), skrill, Neteller, and cryptocurrencies (Bitcoin, Ethereum, Tether)
Customer Support	24/7 live chat, phone, email
Bonus	100% welcome bonus

Pros

√ Low-cost trading

√ Large range of research tools

Cons

× Non-transparent minimum deposit

× Not ideal for beginners

⑧ FP Markets

FP Markets is an ASIC-regulated broker with more than 15 years of experience in the industry. It offers strong execution and excellent pricing.

	⭐⭐⭐⭐
Account Minimum	$100 AUD or equivalent
Tradable Instruments	Forex, shares, metals, commodities, indices, digital currencies, bonds, ETFs
Demo Account	✅(free for 30 days)
Islamic Account	✅
Spreads & Commissions	From 1.0 pips & commission-free (Standard account)
Trading Platforms	MT4, MT5, cTrader, TradingView, WebTrader, MT5 Mobile Trader
Payment Methods	Credit/debit card (Visa, MasterCard), Bank Transfer, Crypto Payments, Cryptocurrency Solution (LetKnowPay), m2p crypto payments, Perfect Money, Skrill, AstroPay, Monetix Wallet, Neteller
Deposit Fee	❌for most methods
Deposit Fee	blockchain fees applicable for some methods
Withdrawal Fee	❌for most methods
Withdrawal Fee	Variable fees for some methods
Customer Support	24/7 - live chat, call back form, phone, email
Bonus	Yes

Pros

√ Great pricing on Forex and share trading

√ Strong customer service

Cons

× Not competitive minimum deposit

⑨ Pepperstone

Pepperstone is an Australian FX broker known for its diverse selection of third-party platforms.

	⭐⭐⭐⭐
Account Minimum	$0
Tradable Instruments	Forex, commodities, indices, currency indices, cryptocurrencies, shares, ETFs
Demo Account	✅
Spreads & Commissions	From 1.0 pips on EUR/USD + commission-free (Standard account)
Trading Platforms	MT4, MT5, cTrader, TradingView, Pepperstone Trading Platform
Payment Methods	Visa, Mastercard, Bank transfer, PayPal, Neteller, Skrill, Union Pay, USDT
Inactivity Fee	❌
Customer Support	Live chat, contact form, Help & Support

Pros

√ High execution speed

√ Large selection of tradable instruments

Cons

× Limited research and educational resources

⑩ eToro

eToro is an Israel-based social trading platform. Its copy-trading features make trading accessible to beginners.

	⭐⭐⭐⭐
Account Minimum	$10
Tradable Instruments	3,000+, Stocks, Cryptocurrencies, Currencies, Commodities, ETFs
Demo Account	✅
Spreads & Commissions	Around 3 pips (EUR/USD) & commission-free
Trading Platforms	MT4, eToro proprietary platform
Payment Methods	eToro Money, credit/debit cards, PayPal, Neteller, Skrill, Rapid transfer, iDEAL, Klarna / Sofort Banking, bank transfer, Online Banking – Trustly (EU region), Przelewy 24
Withdrawal Fee	$5 withdrawal fee for $30 withdrawal amount
Customer Support	24/5 live chat, email

Pros

√ Excellent social trading features

√ Easy-to-use platform.

Cons

× High forex fees

× Limited technical research tools

Swiss Forex Brokers FAQs

Key features of forex trading in Switzerland

Switzerland's Forex market is distinguished by several key characteristics:

Strong Regulatory Environment: The Swiss Financial Market Supervisory Authority (FINMA) strictly regulates all financial activities, including Forex trading. This ensures that brokers operate transparently and adhere to high standards of conduct.
Financial Stability and Security: Switzerland is globally recognized for its stable economy and robust banking system, making it a secure environment for Forex trading. This stability attracts both domestic and international investors.
Privacy and Confidentiality: Swiss financial institutions are known for their strong commitment to privacy. While global standards for transparency have increased, Swiss brokers still offer a high level of confidentiality, which appeals to many investors.
Reputation for Safety: Swiss brokers often hold client funds in segregated accounts with leading Swiss banks, providing an extra layer of security and ensuring that client funds are protected.
Advanced Trading Infrastructure: Switzerland is home to advanced financial technology and infrastructure, providing traders with access to cutting-edge trading platforms and tools.
Favorable Trading Conditions: Many Swiss brokers offer competitive spreads, low fees, and access to a wide range of currency pairs. The trading conditions are designed to cater to both retail and institutional clients.
Access to International Markets: Swiss Forex brokers often provide access to global financial markets, allowing traders to diversify their portfolios with a broad range of financial instruments beyond just currency pairs.

These characteristics make Switzerland an attractive destination for Forex traders seeking a reliable and secure trading environment.

Who regulates forex trading in Switzerland?

Forex trading in Switzerland is regulated by the Swiss Financial Market Supervisory Authority (FINMA). FINMA is tasked with the responsibility of regulating and supervising banks, securities dealers, insurance companies, and other financial intermediaries in Switzerland. Its main aim is to protect investors, depositors, and general financial market participants by ensuring that the financial markets function smoothly.

How to get started with forex trading in Switzerland?

To get started with forex trading in Switzerland, follow these steps:

Learn the Basics: Understand the fundamentals of forex trading, including how currency pairs work, market analysis methods, and risk management.
Choose a Regulated Broker: Select a forex broker that is regulated by the Swiss Financial Market Supervisory Authority (FINMA) to ensure compliance with Swiss laws and secure trading conditions.
Open a Trading Account: Sign up for an account with your chosen broker. You'll need to provide personal identification and fulfill Know Your Customer (KYC) requirements.
Fund Your Account: Deposit funds into your trading account. Be aware of the broker's minimum deposit requirements and choose a payment method that suits you.
Practice with a Demo Account: Most brokers offer demo accounts where you can practice trading with virtual money. This helps you get comfortable with the trading platform and develop your strategies.
Start Trading: Once you feel confident, begin trading live. Start small and gradually increase your trading volume as you gain experience.
Monitor and Adjust: Continuously monitor your trades and adjust your strategies based on market conditions. Keep learning and stay updated on global economic events that could impact the forex market.

What is the best currency pair for Swiss clients?

The Swiss Franc (CHF) paired with other major currencies like the Euro (EUR), U.S. Dollar (USD), British Pound (GBP), and Japanese Yen (JPY) are good options. These pairs usually have the highest liquidity, the tightest spreads, and the most information available, which can make trading these pairs more predictable than others.

The EUR/CHF and USD/CHF are particularly popular pairs among Swiss traders due to their economic ties and high volatility respectively, which can create ample trading opportunities.

What is the best time to trade forex in Switzerland?

The best Forex trading hours in Switzerland typically revolve around the major markets opening hours, which are known for their high liquidity and volatility due to increased trading activity.

The most volatile period is during the overlap of the European/London session and the North American/New York session (from about 2:00 p.m. to 6:00 p.m. Swiss time), where the highest volume of trades occurs. This can lead to potential opportunities, but also higher risk and stronger price movements.

Do forex traders pay tax in Switzerland?

Yes, forex traders in Switzerland are subject to taxation. The specifics depend on whether the trading is considered personal or professional, and whether it falls under capital gains or income tax:

Personal Trading: If forex trading is conducted as a private investor (non-professional), profits are generally considered capital gains, which are usually tax-exempt in Switzerland. However, if trading is frequent or significant, it might be deemed a business activity.
Professional Trading: For those classified as professional traders (e.g., traders who make a significant portion of their income from trading), profits are treated as ordinary income and are subject to income tax. The criteria for being classified as a professional trader include frequent transactions, high volume, and substantial time spent trading.
Tax Rates: Tax rates vary depending on the canton (region) in Switzerland, as tax is levied at both federal and cantonal levels. Each canton has its own tax rates and regulations, so its essential to check local tax laws for specific rates.
Deductible Expenses: Professional traders can typically deduct trading-related expenses, such as trading platform fees and professional advice, from their taxable income.
Reporting Requirements: All traders must report their trading activities and profits to the Swiss Federal Tax Administration. Accurate and thorough documentation is required to comply with tax obligations.

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