The Swiss Markets brand was established in 2016 and makes up part of BDSwiss Holding PLC that was originally founded in 2012. Swiss Markets was formed with the idea of providing its trading clients access to STP or Straight Through Processing order execution in a secure, reliable and transparent manner.
Swiss Markets is headquartered in Cyprus and operates as a Cyrpus Investment Firm under CySEC oversight with incorporation no. HE300153. This means Swiss Markets needs to comply both with relevant local laws and with European regulations that include the MiFID (Markets in Financial Instruments European Directive). The firm is also required to adhere to the European Union’s Law 144(1)/2007, also known as the Investment Services and Activities and Regulated Markets Law of 2007. Swiss Markets is regulated by CySEC under license number 199/13.
The official website for Swiss Markets is located at www.swissmarkets.com and a screenshot of its welcome page appears below:
Swiss Markets currently does not accept U.S. based clients, so such traders should look elsewhere for a forex broker.
Features at Swiss Markets
Swiss Markets has an impressive set of assets clients can trade via its online broking service, including 18 major currency pairs, 19 minor currency pairs and 40 exotic currency pairs for forex traders. The broker also offers an execution service in precious metals like gold, silver, palladium, platinum and copper; energy assets like U.S. oil, Brent crude and natural gas; soft commodities like cocoa, coffee, cotton, sugar and orange juice; and 23 high volume stock indexes that include the SPX500 (S&P 500), the JPX225 and the GBR100 (FTSE 100).
An important issue some active traders might have with Swiss Markets is that it charges as much as an $11.00 USD commission for each forex transaction, with the actual per trade commission depending on what type of account clients decide to open. The broker compensates for that per trade charge by offering very tight dealing spreads that average between 0.2 of a pip for EUR/USD to 2.4 pips for GBP/NZD, which would be the highest dealing spread within major currency pairs.
Forex dealing spreads can vary substantially for the minor and exotic pairs according to how liquid each market is at the time a transaction is executed. Traders can transact in amounts as tiny as 0.01 of a lot to a maximum size of 50 lots per each forex trade. Leverage for all currency pairs offered is available up to 500 to 1 in the Classic account type, but only up to 200 to 1 in the other three account types.
You can trade via Swiss Markets on mobile devices using MetaTrader 4’s mobile platform.
Swiss Markets offers a negative balance protection service to its clients that means their account balance will not fall below zero irrespective of underlying market conditions.
Clients can start live trading with as little as $200 deposited in their trading account, and all client account funds are kept segregated from the broker’s for added security.
Swiss Markets offers both a demo account and four live STP account types, including a Classic STP account, a RAW STP SWISS 11 account, a RAW STP SWISS 8 account and a RAW STP SWISS 5 account. The RAW accounts differ by the amount of initial deposit required and the per trade commission charged.
The primary Swiss Markets trading platform is MetaTrader4 or MT4, which is a very popular choice among traders and forex brokers around the world. MT4 has a substantial charting tool package for technical analysis purposes, and you can even design your own indicators or automate your trading plan once you get to that stage using its MQL programming language.
Swiss Markets lets you execute all the major and popular minor currency pairs, indexes, energy, precious metal and soft commodities via this trading interface using very competitive STP dealing prices, although the per trade commission may be an issue for small size scalpers.
The screenshot shown below shows the extensive functionality of Swiss Markets’ version of MetaTrader4, which includes technical analysis, a news feed and position management features.
Deposits and Withdrawals
Swiss Markets offers leverage up to 500 to 1 with a minimum deposit requirement as low as $200 for a Classic account and no minimum deposit amount after the initial one. Clients use the broker’s Client Portal to make further deposits.
Deposits to fund a Swiss Markets trading account can be made without charge via numerous payment options, including bank wire transfers; Visa, MasterCard and Maestro credit cards; and payment companies like postepay, SOFORT, giropay, eps, Skrill (formerly Moneybookers), Przelewy24, Neteller. The broker unfortunately does not support Paypal payments at this time.
Deposits get credited immediately to clients’ accounts, other than wire transfers that can take between one to four days to show up.
Withdrawals can only be made once appropriate documentation has been submitted and verified, and then only to the originating account that the trader originally made a deposit from. No charge is made for withdrawals that usually take 24 hours to complete.
Swiss Markets offers a customer support service via telephone in the United Kingdom, Switzerland, Germany, Poland, Spain, the Czech and Slovak Federative Republic, Hungary and Russia. UK clients also have access to a fax number for support and support via email is also available. While the broker’s website contains a live chat feature, it did not seem to be working correctly when this review was performed. A live chat query received a response to leave a message and an email address that was eventually responded to several hours later by email.
Little to no educational material seems to be displayed on this broker’s website, although it does mention having such resources in its “About Us” section, including regular seminars, webinars and other content relevant to traders.
Swiss Markets – Conclusion
Swiss Markets looks like a high quality and well-regulated STP broker offering a CFD and forex trading service. Both a demo account and four additional trading account types are available to suit just about any initial deposit amount.
One issue with this broker is that it charges a trading commission per trade that few other online forex brokers do. Although these fees might be compensated for by the tighter dealing spreads their STP execution service offers, especially for infrequent traders employing larger transaction sizes, they might be problematic for frequent traders who deal in smaller sizes like those employing scalping strategies.
In terms of its trading platform, Swiss Markets offers MetaTrader4 which is pretty much the market standard and readily allows automation of trading strategies and custom indicators to be developed.
This broker would therefore best suit more advanced traders capable of dealing in larger amounts, especially since it does not seem to offer any educational materials or a functioning live chat feature yet on its website.