Swissquote Review (2026): How Good and Cheap Is It Really?

Once almost the only game in town, now surrounded by competition: in this detailed review, we share our Swissquote experience with you. You’ll find out where we see the strengths and weaknesses of Switzerland’s largest online broker, and for which investors switching is particularly worthwhile – and for which it isn’t. 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 promo code MKT_SFB

If Swissquote’s offer appeals to you, enter the promo code MKT_SFB when you open your account to get a welcome bonus in the form of trading credits (fee waiver on trades). You’ll also be supporting our blog.

– Partner offer –

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Company history

“We want to be the world’s most advanced and intuitive online bank. Through innovation and technology, we challenge traditional conventions and rethink them.” That is Swissquote’s vision. 

Since its founding in 1996, Swissquote’s company history has been shaped by innovation and growth. The latter has come not only organically but also through frequent acquisitions.

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

Below, we focus on the milestones that are particularly relevant for private investors.

• 1996: Swissquote is launched
• 2000: Stock exchange listing (symbol: SQN)
• 2001: Swiss banking license obtained
• 2006: Online trading via smartphone
• 2008: Savings accounts introduced
• 2014: Strategic partnership with PostFinance
• 2018: Multi-currency credit card introduced
• 2021: Launch of the neobank Yuh (review) together with PostFinance
• 2023: Launch of a multi-currency debit card and of “Invest Easy” for automated investing in an entire portfolio based on your own risk profile
• 2024: Savings plans introduced from CHF 3
• 2025: Full takeover of the neobank Yuh

The bank’s pleasing share price performance also shows that Swissquote’s dynamic business model works. 

Product range

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

Probably the best known is electronic trading in securities such as shares, investment funds (incl. ETFs), options/warrants and bonds, along with account and custody account management for private and corporate clients as well as asset managers. How competitive Swissquote is in its core business is also shown by the fact that the large PostFinance has handled its e-trading exclusively via Swissquote’s platform since 2015. 

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

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

Finally, extensive analysis tools and an integrated robo-advisory service, “Invest Easy”, round off the broad product range.

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

Security

Account opening

Opening an account is done entirely digitally in just a few minutes, including by scanning documents. Swissquote does without video recordings for identity verification. Alternatively, Swissquote offers account opening in person at its lounge in Zurich. Either way, account opening is divided into the following three parts:

• Personal data: Here you enter personal information such as marital status, income and assets, and type MKT_SFB into the “Promo code” field to secure trading credits worth CHF 100 (special offer).
• Login details: Here you receive your username and password.
• Completing the application: Here you can check your details once more and sign the application digitally.

App and platform

As you’d expect from a modern online broker, Swissquote offers both web-based access via desktop and an app for mobile devices.

While Swissquote used to present itself in a rather sober, uninviting look, the new design impresses with a clear structure and a modern appearance.

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

The actual trading platform is in the “Trade” menu, which you can customize: in addition to the positions you already hold, you can create a personal watchlist of securities that matter to you. That way, you always keep an eye on price movements, market data and potential buying candidates.

Swissquote lets you buy securities on virtually all major stock exchanges in the world. Well-known ETFs, such as the Vanguard FTSE All-World in the image below, are often traded on different exchanges and in several currencies. The country flags indicate where each exchange is based and help you choose the security you want.

Prices

Let’s get this out of the way: Swissquote can’t compete on price with foreign providers such as Interactive Brokers or DEGIRO. Within Switzerland, however, Swissquote stands out with genuinely attractive fees.

Fee highlights: ETF Leaders for a maximum of CHF 9, savings plans from CHF 3

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

If you want to invest smaller amounts regularly, Swissquote also offers savings plans – with commissions from CHF 3 per execution.

Custody fees

Custody fees are charged regardless of your trading activity. Swissquote charges them quarterly according to a tiered rate, and cash does not count towards the calculation basis. Per year, you pay between CHF 80 and a maximum of CHF 200. If your portfolio exceeds CHF 1 million, an additional 0.0075% per quarter applies.

The following comparison shows how strongly a cost cap limits fees on larger portfolios:

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)

What stands out positively for us in this important fee item is the capped rate for the “ETF Leaders”. The brokerage fee depends on the order volume: CHF 3 up to CHF 500, CHF 5 up to CHF 1,000 and, from CHF 1,000, a flat rate of CHF 9 – no matter how much larger your order is. Swissquote calls the ETFs that benefit from this low rate “ETF Leaders”.

And these are by no means unattractive leftovers from unknown providers. On the contrary: this category includes hundreds of ETFs from the most renowned providers such as Vanguard or iShares (BlackRock). What they have in common: they are all traded on the Swiss stock exchange SIX.

Good news: our research also showed that all the winning ETFs we selected in our article Best ETFs for Switzerland and global through a strict, multi-stage selection process benefit from this low flat rate.

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

Back to costs: buying 50 units of the “ETF Leaders” 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, we briefly break down these transaction-related costs:

Swissquote brokerage fee:	9.00 CHF
Stamp duty (0.15%):	7.05 CHF
Exchange fees:	2.20 CHF

In other words, Swissquote’s own fees make up only about half of the costs of our test trade; the other half goes to 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 transaction amounts from CHF 2,000, as Swissquote’s price overview for shares and ETFs below shows:  

So it’s obvious: if you choose Swissquote as your broker and want to invest in ETFs, you should preferably go for “ETF Leaders” products with a brokerage fee of no more than CHF 9. The “normal” rates are reminiscent of Switzerland as a high-price island and are hardly an option for cost-conscious investors. With one exception: if you only invest smaller amounts of up to CHF 500 or CHF 1,000, for example regularly via a savings plan, the regular rates also come with only moderate fees of CHF 3 or CHF 5 respectively.

Stamp duty (transaction tax)

Since Swissquote is a Swiss broker, stamp duty is charged on every trade. It amounts to 0.075% for funds domiciled in Switzerland (recognizable by a Swiss ISIN starting with “CH…”) and 0.15% for funds domiciled abroad (foreign ISIN such as “IE…” for Ireland). You can find out more about 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 between major currencies – which, for Swissquote, include the Swiss franc, the euro, the US dollar, the British pound and the Japanese yen, among others – a fee of 0.95% applies. Higher rates apply to so-called minor currencies; you can find them here.

Swissquote lets you hold almost any number of foreign currency accounts. Foreign currency accounts are useful because they can help you save on the relatively high currency exchange fees. For example, if you already hold cash in EUR and want to invest in an ETF with EUR as its trading currency, you won’t pay any foreign currency fees. Incoming EUR transfers to your Swissquote trading account are also free of charge.

Account fees 

At Swissquote, you can hold your cash in different currency accounts free of charge. Handy: when you open your account, you automatically get a CHF, a USD and a EUR bank account.

Transfer fees

Welcome, if overdue: since 1 January 2023, Swissquote no longer charges any fees for domestic payments. Previously, a flat fee of CHF 2 applied to outgoing transfers. For us, that was a no-go, which is why, when this article was first published, we advised against using Swissquote as your main bank. Now this option may be worth considering again for some investors. But watch out: if you regularly make international SEPA transfers in euros, you’ll still be charged fees of €2. 

Costs for Lombard loans

If you’re willing to take more risk, you can leverage your investments with a securities-backed loan (Lombard loan). You can find Swissquote’s current interest rates here.

If Lombard loans are something you’re considering, it’s worth checking carefully what different providers offer. There are big differences in this niche market, as the following comparison shows.

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

If you want your entire portfolio – not just individual positions in a savings plan – to be managed automatically, Swissquote offers the optional “Invest Easy”. However, the relatively high total fees of up to 0.79% are likely to put off many private investors. The robo-advisors on our recommendations page show that it can be done much more cheaply.

Securities lending as an additional source of income

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

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

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

Important: despite all of Swissquote’s safety precautions, securities lending means taking on an additional risk. Essentially, this is the risk that, in the event of a loss, the value of the collateral does not cover the value of the lent securities. You can find out more about Swissquote’s securities lending here. 

Support

For us, one clear plus point of Swissquote is its support: competent, free of charge, multilingual and flexible via phone, email or chat.

Chat has proven particularly efficient for us (unlike phone enquiries, where we once spent 15 minutes on hold shortly before noon): while the bot handles standard questions well, the human support team answers more specific requests.

Once, phone support referred us to the contact form when we reported 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 screenshot of the faulty widgets as “evidence”. That same day, Swissquote let us know by email that fixing the problem would take two working days – which turned out to be true.

What many people probably don’t know is that, besides its headquarters in Gland (VD), the online bank Swissquote also runs a lounge in Zurich. Centrally located at Löwenstrasse 62, a five-minute walk from the main station, it’s where you can meet Swissquote in person. And not only, as mentioned above, for opening an account, but also to get stock market information & co. in a relaxed atmosphere or simply to enjoy a coffee.

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

Suitability

Based on our Swissquote experience and the research we carried out for this review, we think the Swiss pioneer broker is particularly suitable for investors who value one or more of the following features when choosing a broker:

• Domestic broker with a Swiss banking license, Swiss deposit insurance of CHF 100,000 and 30 years of market experience
• Huge range with over 3 million products, including a wealth of (niche) ETFs, tradable on numerous exchanges around the world
• Attractive conditions for larger transaction amounts from CHF 1,000 thanks to the CHF 9 flat rate for “ETF Leaders” on the Swiss stock exchange SIX
• Automatic savings plan feature: regular investments of a fixed amount possible thanks to fractional trading, at moderate fees from CHF 3
• Separate foreign currency accounts, which let you save on currency exchange fees
• Competent, multilingual free support via email, phone or chat
• Flexible use: modern, customizable user interface and app for mobile devices
• All in one place: investing, transfers and saving, including cards
• Online courses for beginners

– Partner offer –

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Interview with Romain Le Baud, Head of Marketing at Swissquote

As Head of Marketing, you shape Swissquote’s positioning. What are the most important challenges right now?

1. Standing out in a market where everything looks the same
   Many providers seem alike. Swissquote must remain clearly recognizable as an innovative, reliable and bold brand.
2. Balancing price sensitivity and value creation
   Price pressure is rising. The key is to make visible the added value that comes with a regulated Swiss bank with a broad offering and stable infrastructure.
3. Keeping 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 direction or a consistent customer experience.

Ultimately, what matters is securing Swissquote’s leading position in an increasingly dynamic market – through a clear identity, innovation and reliability.

Swissquote is posting record results, yet custody fees are increasingly coming under criticism. Precisely because these fees are charged even when you don’t trade, many see them as a relic of traditional banking. What is your view on a possible fee cut and the opportunity to attract more price-sensitive investor segments?

It’s crucial to distinguish between a low-cost broker and a fully regulated digital bank. Swissquote is Switzerland’s leading digital bank – with Swiss regulation, customer service, in-house 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 we deliver clearly justifies it.

Our goal is not to be the cheapest provider but to offer the best value for money. For more price-sensitive customers who prefer a simpler, leaner offering, Yuh already provides a modern and competitive alternative with no 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 with which new features or products will Swissquote surprise us in the near future?

It’s hard to speculate reliably about future regulatory developments, and I hope you’ll understand that I only comment on specific new products once they’re ready to be announced. What is clear, however, is that two forces will shape the financial world until 2030: technology and customer behavior – and AI will strongly accelerate both.

1. Technology: AI-based, seamless and highly personalized
   By 2030, AI will be at the core of the trading and banking experience. Platforms will become smarter, more personal and more conversational – from analysis and risk control to almost invisible processes such as onboarding or compliance. Technology is thus evolving from an execution tool into the actual intelligence engine.
2. Customer behavior: from DIY trading to AI-assisted 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 one seamless user journey.

Many thanks, Romain, for these fascinating insights.

(The interview with Romain Le Baud was conducted in writing in English on 20 November 2025 and is reproduced here in slightly abridged form.)

Conclusion on our Swissquote experience

Our Swissquote experience 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 group also benefits from a modern trading platform and efficient, multilingual customer support.

For us, however, the decisive reason to switch is the fees for the “ETF Leaders”: depending on order size, CHF 3 to a maximum of CHF 9 per trade on SIX. This makes Swissquote convincing on price, too, compared with other Swiss providers.

But even if you only want to invest smaller amounts, e.g. conveniently via an automated savings plan, Swissquote has made improvements and cut its entry-level prices significantly: CHF 3 for investment amounts up to CHF 500.

And one more thing: domestic payments at Swissquote are now free of charge. This change, overdue in our view, makes Swissquote interesting not only as an online broker but also as a traditional main bank – and therefore for anyone who wants banking and securities in one place.

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Updates

2026-07-24: Modified fee model added.

2026-01-03: Various updates 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 Swissquote’s 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 Swissquote vs. UBS share price chart 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 automated asset management and the new, purely virtual free “Light” debit card mentioned; note added that PostFinance has offered e-trading on the Swissquote platform since 2015.

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

2023-12-08: Note on the demo account removed, as it was discontinued on 27 November 2023.

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

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

2023-01-04: “In a nutshell” text block added.

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

2022-12-10: Fees updated: abolition of domestic payment fees as of 1 January 2023 included (previously a CHF 2 fee for outgoing payments).

Disclaimer

Disclaimer: Investing involves the risk of loss. You have to 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 goal is to provide you as a private investor with finance information that is as objective and meaningful as possible. Should we nevertheless have made mistakes, or should important aspects have been forgotten and/or no longer be up to date, we would be grateful for your feedback.

Transparency note: We, Stefan and Toni, have extensive Swissquote experience, as for many years we have managed – and still manage – our securities accounts on Swissquote’s e-trading platform, including via PostFinance. In addition, for this review we opened a Swissquote demo account, executed trades with it and, based on that, tested Swissquote’s support through various channels.