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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.

Switzerland

Best Swiss Forex Brokers

Best for beginners, user-friendly platform

Best for low spreads & commission

Best for professional traders, wide range of markets

more

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
$0
Regulated
0.0
1:500
$0
8.25
Regulated
0.9
1:100
$0
8.46
Domestic Regulation
0.0
1:200
$100
Regulated
0.0
1:1000
$200
7.05
Regulated
0.0
1:1000
1,000 EUR/USD/GBP/CHF
Regulated
0.3
1:200
N/A
8.88
Regulated
0.0
1:500
$100 AUD or equivalent
Regulated
0.0
1:200 (Retail)/1:500 (Professional)
$0
7.54
Regulated
0.75
1:30
$10

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.

    IG
    ⭐⭐⭐⭐⭐
    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

IG's home page


② Fusion Markets

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

    Fusion Markets
    ⭐⭐⭐⭐⭐
    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

Fusion Markets' home page

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.

    Saxo
    ⭐⭐⭐⭐⭐
    Account Minimum $0
    Tradable Instruments Investment products: stocks, ETFs, bonds, mutual funds, crypto ETPs
    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

Saxo's home page


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.

    Forex.com
    ⭐⭐⭐⭐⭐
    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:
    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

FOREX.com's home page


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

IC Markets Global's homepage



⑥ Swissquote

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

    Swissquote
    ⭐⭐⭐⭐
    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

Swissquote's home page


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.

Dukascopy
⭐⭐⭐⭐
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


Dukascopy's home page



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.

    FP Markets
    ⭐⭐⭐⭐
    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
    blockchain fees applicable for some methods
    Withdrawal Fee for most methods
    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

FP Markets' homepage


⑨ Pepperstone

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

    Pepperstone
    ⭐⭐⭐⭐
    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

Pepperstone's homepage


⑩ eToro

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

    eToro
    ⭐⭐⭐⭐
    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

eToro's home page


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. 

FINMA

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.

CHF pairs

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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