What is Swiss Markets
Swiss Markets was first established as a brand in 2016 to create a competitive environment where customers can enjoy safe, transparent, and reliable straight-through processing (STP) transactions.
Swiss Markets is operated by BDSwiss Holding PLC, a company that also operates the popular binary options brand, BDSwiss.
Swiss Markets is located in Cyprus while it is now one of the leading STP brokers in the industry.
This company exerts a sense of reliability under the Cyprus Securities and Exchange Commission (CySEC) regulation. It is one of the reasons why it managed to maintain consistent popularity over the years. In addition, this online broker offers the popular MetaTrader 4 (MT4) platform and it has an excellent set of trading conditions which is suitable for many traders.
Swiss Markets’s Trading Conditions
- Trading Assets
With Swiss Markets, clients can trade a wide range of trading instruments including Foreign exchange (Forex), metals, energies, indices, equities, and cryptocurrencies. Swiss Markets provides an impressive set of Forex pairs including 18 major currency pairs, 19 minor currency pairs, and 40 exotic currency pairs that clients can trade. All tradable instruments are set out on its website so that a trader can average spreads for each pair as well as the swaps, tick values, and the margin requirements applicable to each trading account type. Overall, the range of assets available is highly diverse and competitive to many brokers in the same industry.
- Spreads
The spreads do vary from every account type although all spreads are floating and not fixed. They all vary from the starting spread. All spreads on each tradable instrument are set out on Swiss Market’s website according to each account type so a trader can be clear on what spreads to expect. It is free to access for everyone so there is no need to open an account just to see the spreads.
- Leverage
Swiss Markets offers leverage up to 1:500 which is a high ratio. Although CySEC proposed the default leverage level to be 1:50, most Cypriot brokers still provide higher leverage ratios. Traders must be cautious when trading on margin. Hhigher leverage levels may not only multiply profits on a small deposit but also lead to losses which could exceed initial investments.
- Trading Costs
Swiss Markets’s trading commission fees might vary based on the account type. Traders must bear in mind that since there is a variation in starting spreads across the accounts, the trading cost mostly “evens out” regardless of the account type in the same volume.
Swiss Markets’s Customer Support and Regulations
Swiss Markets’ quality of customer service is excellent and very impressive. Swiss Markets’s representatives are professional and friendly manner when they deal with the client’s concerns. They are available on a 24/5 basis in line with when the markets are open.
Swiss Markets clients can reach out to them via Live Chat, email, and telephone. Traders can expect a consistent high-level quality of customer service
With respect to the regulation policies that Swiss Markets comply with, the following countries are restricted from the provision of Swiss Markets’s trading services:
- Democratic Republic of Congo
- North Korea
- United States
- Sudan
- Belgium
- Eritrea
- Somalia
- Libyan Arab Jamahiriya
Deposits and Withdrawals
For the majority of traders, Swiss Markets offers different deposit methods including credit cards, debit cards, bank wire transfer, Skrill, Neteller, Wirecard, Bitcash, Ethereum, Bitcoin, and Coinbase. This broker provides a useful option for funding methods. It is also an advantage that a cryptocurrency deposit option is available for those clients who want to make use of their crypto coins. It is usually the simplest and fastest method of transaction nowadays. Swiss Markets do not charge any fees to their clients for funding their accounts.
However, traders must take note that there is a required minimum withdrawal amount according to the broker’s withdrawal procedures.
- 100 EUR/USD/GBP if via bank wire transfer
- 21 EUR/USD/GBP if via Skrill, debit card, credit cards, and Bitcoin
If this is not met, the client would be subject to a fee of 10 EUR/USD/GBP on withdrawal. There are no more fees other than that. It is recommendable that traders check their banking providers for additional fees.
Conclusion
Swiss Markets is one of the safest STP brokers out there with impressive trading conditions and excellent customer support. This broker is highly dynamic and keeps up with the times. It also offers cryptocurrency not only to the trade on margin, but also as a funding and withdrawal method.
