Minimum Deposit: $200
Maximum Leverage: 1:30
Hello guys! I will introduce Swiss Markets today. Swiss Markets is a Forex broker and part of the BDSwiss Holding PLC group which was founded in 2012.
The brand was established in 2016 to create a competitive environment where customers can enjoy safe, transparent and reliable STP transactions.
Swiss Markets is operated by BDSwiss Holding PLC, a company that also operates the popular binary options brand BDSwiss.
The address of BDSwiss Holdings PLC is Apostolou Andrea Street 11, Hyper Tower, 5th Floor, 4007 Mesa Yeitonia, Limassol, Cyprus.
I will give you all the details about the broker in this Swiss Markets review. For example: Is Swiss Markets regulated? What are the account types offered by Swiss Markets? What are the spreads, minimum deposit, and maximum leverage? Is Swiss Markets scam or reliable forex broker?
Regulation of Swiss Markets
As the broker’s said on its website, at Swiss Markets accountability is key to ensuring a strong market reputation. They place a great deal of emphasis on their regulatory responsibilities and aim to go beyond their clients’ expectations.
BDSwiss Holding Plc is licensed and regulated by the Cyprus Securities and Exchange Commission (“the CySEC”) under license number 199/13.
Cyprus is one of the most popular destinations for forex and binary options brokers worldwide. CySEC requires the regulated brokerages to hold a minimum of €730 000 as proof of the company’s financial stability. Also, the broker needs to report to the Commission on a regular basis.
Besides, all licensed brokers are members of the Investor Compensation Fund. Thanks to this compensation, if the broker becomes insolvent or ceases trading, where customers of authorized financial services firms may receive compensation, up to 20,000 EUR.
In addition, as a Cyprus Investment Firm, BDSwiss Holding Plc is obliged to adhere to all relevant European and local laws and regulations, including the Markets in Financial Instruments European Directive (“the MiFID”).
Account Types and Spreads
The broker offers four account types. Classic STP account, Raw STP Swiss11, Raw STP Swiss8, and Raw STP Swiss5 are the names of these account types.
All of the account types have different features. Let’s take a closer look to these starting from the Classic STP account.
Classic STP account requires 200 USD minimum deposit. Spreads on EUR/USD as low as 0.9 pips. There is no commission. Minimum trade size is 0.01 lots and the maximum leverage is 1:30. There is an option also Islamic account (as known swap-free).
Raw STP Swiss11 account requires 200 USD minimum deposit too. But there is different about spreads. Spreads on EUR/USD as low as 0 pips but there is a $11/lot commission. Minimum trade size is 0.01 lots and the maximum leverage is 1:30 for this account type.
The minimum deposit for Raw STP Swiss8 account is 2000 USD. Spreads are as low as 0 pips but there is a $8/lot commission on EUR/USD. Minimum trade size is 0.1 lots and the maximum leverage is 1:30 for this account type.
The last account type is Raw STP Swiss5 and spreads are as low as 0 pips + $5/low commission. It is competitive but if you want to open this account you have to deposit 10,000 USD.
I can say that the trading conditions are acceptable. They are industry average offers. The reason for the low leverage is that the regulator sets a rule in this way.
Swiss Markets offers the most popular trading platform MetaTrader 4 (MT4). The Swiss Markets Forex MT4 platform is packed with a wide array of technical analysis and charting tools to meet the needs of any trader wishing to trade the financial markets.
The MT4 platform is available to all Windows and Mac users, it is available for iOS and Android device users too. Also, you can use the web trader without downloading anything on your pc or mobile devices.
The broker offers more than 250 assets including forex pairs, metals, energies, cryptocurrencies, indices and equities.
Swiss Markets provides an impressive set of assets including 18 major currency pairs, 19 minor currency pairs, and 40 exotic currency pairs that clients can trade.
The precious metals such as gold, silver, and platinum are available for trading at Swiss Markets. The broker also offers an execution service in cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Unfortunately, some of the most popular ones are missing such as Ripple, Bitcoin Cash and more.
The website of the Swiss Markets supports various languages including English, German, Italian, Spanish, Russian, Arabic, and more.
You can reach the customer services via live chat, WhatsApp, Telegram, and e-mail. You can also give your number for the broker to call you back.
The website is well-designed and provides all the information that you need to know about the broker. You can also find many features in its About Us section.
In the Swiss Markets, deposits can be made with various payment options into a trading account. You can fund your account with credit cards like Visa, MasterCard and Maestro; electronic payment services like postepay, giropay, SOFORT, eps, iDEAL, Przelewy24, Skrill, Neteller; and by Bank Wire Transfer.
The broker mentioned that bank wire deposits may take between 1-4 working days to reach Swiss Markets and are processed immediately once they are received.
Deposits can only be completed if they have been made from the trading account holder. This means that the trading account and the deposit method used must have the same name.
The Swiss Markets says it aims to provide you with convenience and convenience in attracting funds. The broker who claims to aims to provide the best service to its customers, so it to be trying to process all the withdrawal requests made within 24 hours.
The broker notes that withdrawals are processed within 24 working hours by Swiss Markets.
Swiss Markets seems like a reputable and duly-regulated STP broker offering a CFD and forex trading service. The broker offers the extensive product portfolio and attractive trading conditions, it supports the industry’s most used platform MT4.
The fact that the Swiss Markets receive a commission for each transaction may be the only possible problem for active traders.
However, live chat, WhatsApp, and Telegram options are available and these are very useful for reaching to broker’s customer support.
If you don’t like this brokers’ offers and features, you can check my top forex brokers list 2019 and find a better one. Also, you can look at cons and pros about this broker in the table below.