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
more
Best Swiss Forex Brokers Compared
Forex Broker
License
Minimum Spread
Maximum Leverage
Minimum Deposit
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 |
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: ❌ |
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 |
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
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.
You Also Like
Best Forex Brokers in Turkey for 2024
Review top 9 forex brokers in Turkey, elevating their trading pros and cons to give traders more useful guidance.
Best Forex Brokers for Beginners in the United Arab Emirates for 2024
Select the top forex brokers for beginners in UAE from the many available to ensure a safe trading environment.
Best Swiss Forex Brokers for 2024
Explore top 10 forex brokers in Switzerland, elevating their trading pros and cons to give traders more useful guidance.
Best Stock Brokers in the US for 2024
When choosing an online broker, finding the platform that best fits your investment needs is crucial. With the rise in popularity of online trading, more brokers are offering free stock trading and commission-free transactions for various assets. It has become a challenge for users to select suitable brokers.
Best CySEC Regulated Forex Brokers 2024
Delving into CySEC-regulated forex trading, this article presents a top 9 list of brokers, spotlighting the benefits of regulatory compliance.
8 Best Forex Trustworthy Brokers in 2024
Stay informed and avoid forex scams with our list of 8 Top Trustworthy Brokers – trade with peace of mind and profitable potential.
Best Forex Brokers for Beginners in the United Arab Emirates for 2024
Select the top forex brokers for beginners in UAE from the many available to ensure a safe trading environment.
Best Forex Brokers in 2024
Guide to the most trusted Forex brokers, with a thorough investigation into their quality, security measures, and financial transparency.