Swissquote Review crypto broker 2024

Our veredict

Swissquote is a highly regarded crypto broker, recognized for its strong regulatory compliance and security, given its foundation in a traditional banking institution. The platform is excellent for beginners due to its comprehensive educational resources and user-friendly interface. Swissquote allows users to own the actual cryptocurrencies rather than just trading derivatives, providing a more authentic trading experience. The customer support is exemplary, offering multiple channels of communication, including phone support and even in-person appointments in Switzerland and Luxembourg.

However, the platform’s relatively high fees and stringent verification processes might deter some casual traders. Additionally, while the platform’s security is robust, the limited options for cryptocurrency withdrawals (currently only Bitcoin and Ethereum) could be a drawback for those looking to trade a broader range of cryptocurrencies. Overall, Swissquote is a solid choice for serious investors looking for a secure and regulated trading environment.

Pros

1. High Regulatory Compliance Swissquote operates under the strict oversight of multiple regulatory bodies, including FINMA in Switzerland and the FCA in the UK, ensuring a secure and compliant trading environment.
2. Ownership of Cryptocurrencies Unlike many platforms that offer only derivatives, Swissquote allows users to buy and hold actual cryptocurrencies, providing a more genuine investment experience.
3. Comprehensive Educational Resources Swissquote offers extensive learning materials, including videos, coursebooks, and interactive tools, making it an excellent platform for beginners.

Cons

Threenvest Score

Fees

4,1/5

Regulated

FINMA

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Why choose Swissquote?

Swissquote stands out as an excellent choice for cryptocurrency trading due to several key strengths. Firstly, it is backed by a traditional financial institution with a long-standing reputation, ensuring a high level of trust and reliability. The platform is fully regulated by multiple authorities, including FINMA in Switzerland and the FCA in the UK, providing users with a secure and compliant trading environment. This extensive regulation means users can trade with confidence, knowing their assets are protected and the platform adheres to stringent financial standards.

Another major advantage of Swissquote is its comprehensive educational resources. The platform offers a range of learning materials, including coursebooks, videos, and interactive tools, which are invaluable for novice traders. This focus on education helps users understand the complexities of cryptocurrency trading and make informed decisions. Additionally, the platform’s user-friendly interface and intuitive design make it accessible to beginners, while still providing advanced features for experienced traders.

Moreover, Swissquote excels in customer support, offering multiple channels for assistance, including phone support and in-person appointments in Switzerland and Luxembourg. This high level of support ensures that users can get help when needed, making their trading experience smoother and more efficient. Although the platform has relatively high fees and a stringent verification process, these aspects are balanced by its strong security protocols and the ability to own actual cryptocurrencies rather than just trading derivatives.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert in the field, I can confidently recommend Swissquote for your cryptocurrency trading needs. Its solid regulatory framework and long-standing reputation in the financial industry make it a trustworthy platform. The ability to own actual cryptocurrencies rather than just trading derivatives is a significant advantage. Additionally, Swissquote’s extensive educational resources and robust customer support make it an excellent choice for both beginners and seasoned traders. While the fees might be higher than some other platforms, the security and peace of mind provided by Swissquote’s stringent protocols are well worth it.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.