Swissquote experience (2026): How good and cheap is the Swiss pioneer broker really?

Formerly almost without alternative, today with a lot of competition around the ears: In this detailed review, we want to tell you about our experiences with Swissquote. You will find out where we see the strengths and weaknesses of Switzerland’s largest online broker and for which investors a switch is particularly worthwhile – and for which it is not. Finally, Head of Marketing Romain Le Baud explains the particular challenges Swissquote is currently facing and how the company is positioning itself in an increasingly dynamic market.

Swissquote promotional code MKT_SFB

If you are convinced by Swissquote’s offer, you can secure a starting bonus in the form of trading credits (fee waiver on trades) when you open an account with the promotional code MKT_SFB . You will also be supporting our blog.

– Partner offer –

– – – – –

Company history

“We want to be the world’s most advanced and intuitive online bank. We use innovation and technology to challenge and rethink traditional conventions.” This is Swissquote’s vision.

Since its foundation in 1996, Swissquote’s corporate history has been characterized by innovation and growth. The latter has been achieved not only organically, but also through frequent company takeovers.

Today, Swissquote has over 700,000 clients and is represented in 12 locations around the world – a clear sign of the bank’s international orientation and growing importance in the global online trading market.

In the following, we focus on those milestones that are particularly relevant for private investors.

• 1996: Launch of Swissquote
• 2000: Listing on the stock exchange (symbol: SQN)
• 2001: Receipt of Swiss banking license
• 2006: Online trading via smartphone
• 2008: Introduction of savings accounts
• 2014: Strategic partnership with PostFinance
• 2018: Introduction of the multi-currency credit card
• 2021: Launch of Neobank Yuh (review) together with PostFinance
• 2023: Launch of a multi-currency debit card and “Invest Easy” for automated investing in an entire portfolio based on your own risk profile
• 2024: Introduction of savings plans from CHF 3
• 2025: Complete takeover of Neobank Yuh

The fact that Swissquote’s dynamic business model works is also demonstrated by the bank’s pleasing share price performance.

Product range

We consider Swissquote’s offering to be very comprehensive. In total, Swissquote offers over 3 million products , including a wealth of ETFs, tradable on over 50 exchanges around the world.

The best known is probably electronic trading in securities such as equities, investment funds (including ETFs), options/warrants and bonds, as well as account and custody account management for private and corporate clients and asset managers. Swissquote’s competitiveness in its core business is also demonstrated by the fact that the major PostFinance has been processing e-trading exclusively via the Swissquote platform since 2015.

Swissquote was also the first online bank to enable trading in the cryptocurrencies Bitcoin, Bitcoin Cash, Ether, Litecoin and Ripple back in 2017.

Swissquote also offers other traditional banking services such as mortgages, Lombard loans, savings and multi-currency accounts as well as various payment cards, including the free, purely virtual “Light” debit card.

Finally, comprehensive analytical tools and an integrated robo-advisory service called “Invest Easy” round out the broad product range.

Focus on equity ETFs: Swissquote therefore offers a versatile multi-asset platform for a wide range of investor groups. As you know, we consider the passive, low-cost, broadly diversified buy and hold investment strategy with a focus on the equity asset class to be the most promising in the long term. We are also convinced that such a strategy can best be implemented with ETFs. That is why we have focused on equity ETFs in this review of our Swissquote experience.

Security

Account opening

Accounts are opened in just a few minutes in purely digital form by scanning documents, among other things. Swissquote does not use video recordings for personal identification. Alternatively, Swissquote offers account opening in person in its lounge in Zurich. Either way, the account opening process is divided into the following three parts:

• Personal data: Here you enter personal information such as marital status, income and assets as well as MKT_SFB in the “Promotion code” field, which will earn you trading credits worth CHF 100 (special offer).
• Login details: You will receive your user name and password here.
• Application completion: Here you can check your details again and sign the application digitally.

App and platform

As befits a modern online broker, Swissquote offers both web-based access via the desktop and an app for mobile devices.

While Swissquote previously presented itself in a rather sober, uninviting image, the new website has a clear structure and a modern look.

The “Bank” menu shows the cash balances and account movements on the three standard accounts in CHF, EUR and USD. You will also see an overview of your card transactions.

The actual trading platform is located in the “Trade” menu. This can be customized: In addition to the positions you already hold, you can create a personal watchlist with securities that are relevant to you. This allows you to keep an eye on price developments, market data and potential buy candidates at all times.

Swissquote enables you to purchase securities on practically all the world’s major stock exchanges. Well-known ETFs, such as the Vanguard FTSE All-World in the illustration below, are often traded on different stock exchanges and in several currencies. The visualization by means of a country flag indicates the origin of the stock exchange and helps you to select the desired security.

Prices

Let’s get straight to the point: Swissquote cannot compete with foreign providers such as Interactive Brokers or DEGIRO in terms of price. In a domestic comparison, however, Swissquote offers very attractive fees.

Fee Highlights: ETF Leaders for up to 9 CHF, savings plans starting at 3 CHF

We were particularly impressed by the fee structure for the “ETF Leaders,” a Swissquote selection of more than 1,000 ETFs. On the Swiss stock exchange SIX, you pay between 3 and a maximum of 9 CHF per trade, depending on the order size—and this cap applies even to large amounts. So whether you’re trading 2,000, 20,000, or 200,000 CHF, the commission remains at 9 CHF.

If you’d like to invest small amounts on a regular basis, Swissquote also offers savings plans —with commissions starting at 3 CHF per trade.

Custody fees

Account maintenance fees apply regardless of your trading activity. Swissquote charges these fees quarterly based on a tiered rate structure, with cash holdings excluded from the calculation basis. You’ll pay between 80 and a maximum of 200 CHF per year. If your account balance exceeds 1 million CHF, an additional 0.0075% per quarter will be charged.

The following comparison illustrates just how effectively a cost cap limits fees on larger assets:

Provider	100'000 CHF	500'000 CHF	1 Mio. CHF
Swissquote	100 (0,10%)	200 (0,04%; Cap)	200 (0,02%; Cap)
Migros Bank	230 (0,23%)	1'150 (0,23%)	2'100 (0,21%)
Zürcher Kantonalbank	300 (0,30%)	1'500 (0,30%)	3'000 (0,30%)
UBS	350 (0,35%)	1'750 (0,35%)	3'500 (0,35%)

Custody fee comparison between Swissquote (with a fee cap) and other established Swiss banks (without a cap): the higher the securities portfolio, the more important a fee cap becomes – and the better Swissquote compares. (Own research; as of 24 July 2026)

Brokerage fees (transaction fees)

One positive aspect that stands out to us regarding this important fee category is the capped rate for “ETF Leaders.” The brokerage fee is based on order volume: 3 CHF up to 500 CHF, 5 CHF up to 1,000 CHF, and a flat rate of 9 CHF for amounts of 1,000 CHF or more—regardless of how large your order is beyond that. Swissquote refers to ETFs that benefit from this low fee as “ETF Leaders.”

These are by no means unattractive clearance items from unknown providers. On the contrary: This category includes hundreds of ETFs from the most renowned providers, such as Vanguard and iShares ( BlackRock). What they have in common is that they are all traded on the Swiss stock exchange, SIX.

We are pleased to report that our research has also shown that all the winning ETFs that we selected in the article Best ETFs Switzerland and globally after a rigorous multi-stage selection process benefit from this low flat rate.

Here you will find all the ETFs that Swissquote offers at the “ETF Leaders” special rate.

Let’s come back to the costs: A purchase of 50 units of the “ETF Leader” Vanguard All World ETF (VWRL) at a unit price of CHF 94.00 cost us CHF 4,718.25 including fees of CHF 18.25. Below is a brief breakdown of these transaction-related costs:

Swissquote’s Brokerage Fees:	9.00 CHF
Stamp duty (0.15%):	7.05 CHF
Stock Exchange Fees:	2.20 CHF

This means that Swissquote’s fees for our test trade are only around half, with the other half being paid by the federal government and the stock exchange.

If none of these low-cost ETFs appeal to you, you’ll pay significantly higher brokerage fees on trades of 2,000 CHF or more, as shown in the following price overview from Swissquote for stocks and ETFs:

So it’s clear: Anyone who chooses Swissquote as a broker and wants to invest in ETFs should preferably opt for “ETF Leaders” products, which have a maximum commission of 9 CHF. The “standard” rates are reminiscent of Switzerland’s high-cost environment and are unlikely to be an option for cost-conscious investors. With one exception: If you’re investing only small amounts up to 500 or 1,000 CHF—for example, regularly through a savings plan—even the standard rates result in only moderate fees of 3 or 5 CHF, respectively.

Stamp duty (transaction tax)

Since Swissquote is a Swiss broker, stamp duty is levied on every trade. It amounts to 0.075% for funds domiciled in Switzerland (identified by the domestic ISIN “CH…”) and 0.15% for funds domiciled abroad (foreign ISINs such as “IE…” for Ireland). You can find more information on the taxation of ETFs in our separate tax article, “ETF Taxes in Switzerland: Optimize Your Portfolio with These Tax-Saving Tips.”

Foreign currency fees

For currency exchange within major currencies, which includes the Swiss franc, euro, US dollar, British pound and Japanese yen, Swissquote charges a fee of 0.95% . Higher rates apply for so-called minor currencies, which you can find here.

With Swissquote, you can hold almost any number of foreign currency accounts. Foreign currency accounts are advantageous because they can help you save on the relatively high exchange fees. For example, if you already have EUR cash and want to invest in an ETF in EUR trading currency, you will not incur any foreign currency fees. Incoming EUR transfers to your Swissquote Trading account are also free of charge.

Account management fees

At Swissquote, you can manage your cash in different currency accounts free of charge . Practical: When you open an account, you receive a CHF, USD and EUR bank account as standard.

Transfer fees

A welcome development, albeit long overdue: As of January 1, 2023, Swissquote no longer charges fees for domestic payments. Previously, a flat fee of 2 CHF had to be paid for outgoing transfers. For us, this was a deal-breaker, which is why, when this article was published, we advised against using Swissquote as your primary bank. Now, this option may once again be worth considering for some investors. But be careful: If you regularly make international SEPA transfers in euros, you’ll still be charged a fee of €2.

Costs for Lombard loans

If you want to invest more riskily, you can leverage your investments with a securities loan (Lombard loan). You can find Swissquote’s current interest rates here.

If you’re considering a Lombard loan, it’s worth taking a close look at the offers from various providers. As the following comparison shows, there are significant differences in this niche market.

Provider	CHF	EUR	USD
DEGIRO	2,5%* - 4%	4,75%* - 6,25%	5,25%* - 6,9%
Interactive Brokers	1,5%**	3,7%**	5,13%**
Saxo Bank	2%***	3,91%***	5,7%***
Swissquote	3%	5,03%	6,63%

Different margin conditions depending on currency and provider as of 24 July 2026. *Fixed advance, i.e. interest is charged on the entire amount allocated, regardless of how much is actually used. **Up to CHF/EUR 90,000 or USD 100,000, then gradually cheaper. ***For the Classic account model; lower interest rates for the Platinum and VIP account models.

Fees for robo-advisory

For those who want to automatically manage their entire portfolio—not just individual holdings in a savings plan—Swissquote offers the optional “Invest Easy” service. However, the relatively high total fees of up to 0.79% are likely to deter many retail investors. The robo-advisors on our recommendations page show that there are significantly more affordable options available.

Securities lending as an additional source of income

Securities lending is a free, optional service from Swissquote that offers you an additional way to generate passive income from your existing portfolio. Here’s how it works: Swissquote lends your securities on your behalf to institutions that need them and you receive a share of the returns generated. This share can vary greatly: According to Swissquote, the gross return on securities lent ranges from 0.5% to over 4%, depending on the lending transaction. The returns are credited monthly.

Swissquote ensures that it only conducts securities lending with renowned, top-rated institutions and holds at least 105% collateral.

Even if you lend out your securities, you remain their beneficial owner and continue to receive dividends.

Important: Despite all the security precautions taken by Swissquote, you are taking an additional risk with securities lending. Essentially, this is that in the event of a loss, the value of the collateral may not cover the value of the securities lent . You can find out more about securities lending from Swissquote here.

Support

For us, one clear advantage of Swissquote is its customer support: it’s knowledgeable, free, multilingual, and flexible—available via phone, email, or chat.

The latter has proven to be particularly efficient for us (unlike with phone inquiries, where we spent 15 minutes on hold just before noon): While the chatbot is good at helping with standard questions, the human support team handles more specific issues.

The telephone support team once referred us to the contact form when we pointed out a bug in the demo version. (Some widgets in our workspace were no longer displayed correctly). So we filled out the form and attached a print screen with the faulty widgets as “evidence”. We received an e-mail from Swissquote on the same day informing us that it would take two working days to rectify the problem, which it did.

Many people may be less aware that the online bank Swissquote also operates a lounge in Zurich in addition to its headquarters in Gland (VD). Centrally located at Löwenstrasse 62, a five-minute walk from the main train station, you can meet Swissquote in person. And not only, as mentioned above, to open an account, but also to call up stock market information etc. or simply have a coffee in a relaxed atmosphere.

As support in the broader sense, Swissquote offers a wide range of training in the form of free video courses, webinars and eBooks on all aspects of investing. These training formats are primarily aimed at newcomers to the stock market, as the following video on how the stock market works shows.

You are currently viewing a placeholder content from Default. To access the actual content, click the button below. Please note that doing so will share data with third-party providers.

Unblock content Accept required service and unblock content

More Information

Suitability

Based on our experience with Swissquote and the research we conducted for this review, we believe this pioneering Swiss broker is particularly well-suited for investors who prioritize one or more of the following characteristics when choosing a broker:

• Domestic broker with a Swiss banking license, Swiss deposit protection of CHF 100,000 and 30 years of market experience
• Huge offering with over 3 million products, including a wealth of (niche) ETFs, tradable on numerous exchanges around the world
• Attractive terms for larger transaction amounts of 1,000 CHF or more thanks to the 9-CHF flat rate for “ETF Leaders” on the Swiss stock exchange SIX
• Automatic savings plan feature: Regular, consistent investments are possible thanks to fractional trading, with moderate fees starting at 3 CHF
• Separate foreign currency accounts, which can save on currency exchange fees
• Expert, multilingual, free support via email, phone, or chat
• Flexible use: Modern, customizable user interface and app for mobile devices
• Everything from a single source: investing, transfers and savings including cards
• Online courses for beginners

– Partner offer –

– – – – –

Interview with Romain Le Baud, Head Marketing Swissquote

As Head of Marketing, you shape Swissquotes’ positioning. What are currently the most important challenges?

1. Standing out in a market where everything looks the same
   Many providers look similar. Swissquote must remain clearly recognizable as an innovative, reliable and bold brand.
2. Reconciling price sensitivity and added value
   Price pressure is increasing. It is crucial to make the added value behind a regulated Swiss bank with a broad offering and stable infrastructure visible.
3. Keeping up with the pace without diluting our long-term vision
   The industry is accelerating – new technologies, new platforms, new asset classes. We want to stay agile without losing our focus or a consistent customer experience.

What counts in the end is to secure Swissquote’s leading position in an increasingly dynamic market – through a clear identity, innovation and reliability.

Swissquote achieves record figures, but at the same time the custody account fees are coming under increasing criticism. Many people see these fees as a relic of traditional banking precisely because they are incurred even if you don’t trade. What do you think about a possible fee cut and the opportunity to appeal to more price-sensitive investor segments?

It is crucial to distinguish between a low-cost broker and a fully regulated digital bank. Swissquote is the leading digital bank in Switzerland – with Swiss regulation, customer service, internal development and a broad investment universe of over 3 million products. This level of security, infrastructure and quality comes at a price, and we are convinced that the value delivered clearly justifies it.

Our aim is not to be the cheapest provider, but to offer the best value for money. For more price-sensitive customers who prefer a simpler and reduced offering, Yuh already offers a modern and competitive alternative without custody fees.

Finally, a look into the crystal ball: What will banking and trading look like by 2030 – in terms of technology, regulation and customer behavior? And what new functions or products will Swissquote surprise us with in the near future?

It is difficult to speculate reliably about future regulatory developments, and I ask for your understanding that I will only comment on specific new products when they are ready to be launched. What is clear, however, is that two forces will shape the financial world until 2030: Technology and customer behavior – and AI will greatly accelerate both.

1. Technology: AI-based, frictionless and highly personalized
   AI will become the core of the trading and banking experience by 2030. Platforms will become smarter, more personal and more dialog-oriented – from analysis and risk control to almost invisible processes such as onboarding or compliance. Technology is thus evolving from an execution tool to an actual intelligence engine.
2. Customer behavior: from DIY trading to AI-powered investing
   Investors still want control, but less complexity. AI will simplify decisions and enable personalized, guided experiences. Banking, trading and digital assets will increasingly merge into a seamless user journey.

Thank you Romain for the exciting insights.

(The interview with Romain Le Baud was conducted in writing in English on 20.11.2025 and is reproduced here in slightly abridged form).

Conclusion on our Swissquote experience

Our experience with Swissquote has shown that the Swiss market leader offers an attractive overall package for anyone who values an online broker with a Swiss banking license.

This target audience also benefits from a modern trading platform and efficient, multilingual customer support.

However, we believe the key factor in deciding to switch is the fees charged by “ETF Leaders”: depending on the order size, these range from 3 to a maximum of 9 CHF per trade on SIX. This means Swissquote also stands out in terms of price when compared to other Swiss providers.

But even if you only want to invest small amounts—for example, conveniently through an automated savings plan—Swissquote has made improvements and significantly lowered the minimum investment amounts: 3 CHF for investment amounts up to 500 CHF.

And one more thing: Domestic payments are now free of charge at Swissquote. This change—which we believe was long overdue—makes them an attractive option not only as an online broker but also as a traditional bank—and thus for anyone who wants to handle both banking and securities transactions through a single provider.

This might also interest you

Updates

2026-07-24: Modified fee model implemented.

2026-01-03: Various updates made to text and images.

2025-12-16: New platform redesign presented.

2025-12-02: Bonus (trading credits) increased to CHF 200.

2025-11-21: New interview with Swissquotes Head of Marketing Romain Le Baud added.

2025-10-06: Various minor updates made.

2025-07-15: Various minor updates made.

2025-01-13: New price chart Swissquote vs. UBS added. Fee comparison updated. Various minor adjustments made.

2024-11-19: New savings plan offer with fees from CHF 3 explained and prices updated.

2024-04-11: Various links updated; the new “Invest Easy” tool for automatic asset management and the new, purely virtual free “Light” debit card mentioned; note added that PostFinance has been offering e-trading on the Swissquote platform since 2015.

2024-01-29: Specifies that Swissquote offers over 50 trading venues and more than 9,000 ETFs worldwide at a flat rate of CHF 9.

2023-12-08: Note on the demo account deleted, as this was discontinued on 27.11.2023.

2023-10-05: New chapter on securities lending added.

2023-06-15: Comprehensive product range specified and quantified.

2023-01-04: Text block “Short & sweet” added.

2022-12-12: Text supplemented by new investment plan for regular, automated investing.

2022-12-10: Fees updated: Abolition of fees for domestic payment transactions adopted as of 1.1.2023 (previously CHF 2 fee for outgoing payments).

Disclaimer

Disclaimer: Investing involves risks of loss. You must decide for yourself whether you want to bear these risks or not.

Errors excepted: We have written this article about our Swissquote experience to the best of our knowledge and belief. Our aim is to provide you as a private investor with the most objective and meaningful financial information possible. However, should we have made any errors, forgotten important aspects and/or no longer have up-to-date information, we would be grateful if you could let us know.

Transparency note: We, Stefan and Toni, have extensive Swissquote experience, as we have managed and continue to manage our securities accounts on the Swissquote e-trading platform, including via PostFinance, for many years. In addition, we opened a Swissquote demo account for this review, used it to execute trades and tested Swissquote support through various channels.