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Interactive Brokers vs. Swissquote

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Interactive Brokers and Swissquote are leading online brokers. Interactive Brokers is a trustworthy broker with licenses from the IIROC, FINMA, FSA, FCA, SFC, MAS, and CFTC. It provides a proprietary platform and a premium app with access to a demo account. Interactive Brokers is a top choice for professionals, as it has premium tools and platforms. 

Swissquote is a secure forex and CFD broker. It has many tradable assets, including cryptocurrency trading and CFDs. Swissquote offers a proprietary platform and the MetaTrader suites. It is a top choice for new traders as it has valuable trading tools. 

Both online brokers have strengths and weaknesses. This article discusses the differences between Interactive Brokers and Swissquote. 

Broker NameInteractive BrokersSwissquote
Year Founded19781996
RegulationSEC (USA), FCA (UK)SFC (Hong Kong), MAS (Singapore), FINMA (Suisse), FCA (UK)
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures,
CFD, Crypto, Warrants, Structured Products
78 forex currency pairs, 17 CFD commodities, 1,500 CFD pairs, 60 CFD stock indices, and 55,000  bonds, 6 options and 6 features
Min Deposit$0$1000
Min Trade$0
PlatformsTraders Workstation (TWS)Advanced Trader (proprietary), MT4 suite, MT5 trading suite
DepositYou can open account without deposit$1000
WithdrawalsFree of charge for the first withdrawal in calendar monthFree of charge

Top findings from the Interactive Brokers vs. Swissquote review:  

  1. Interactive Brokers is a leading online broker with both professional and beginner-friendly tools. 
  1. Swissquote is a beginner-friendly online broker with a high minimum deposit fee. 
  1. Both brokers offer proprietary platforms, demo accounts, and an active trader discount. 

Interactive Brokers is a top choice for experienced traders, as it has world-class trading platforms. We recommend Swissquote for traders of all levels because of its straightforward platforms. 

Overall Rating

FeatureInteractive BrokersSwissquote
Overall4.54
Commissions & Fees4.53.5
Offering of Investments54.5
Platforms & Tools4.54
Mobile Trading44
Research4.54
Education43.5
Trust Score9499
WinnerYES
66% of retail CFD accounts lose money79% of retail CFD accounts lose money

Level of experience  

Interactive Brokers offers some research tools, including Trading Central and forex news. It has useful learning materials, including webinars. Interactive Brokers provide premium platforms and tools, which is why it’s a top choice for advanced traders. 

Swissquote has beginner-friendly tools and platforms, but it charges a high initial deposit fee. This broker has a proprietary platform, social trading, and virtual trading. Swissquote offers an impressive trading experience with both beginner-friendly and professional features. 

Fees  

Swissquote charges a high minimum initial deposit of $1000, while Interactive Brokers doesn’t charge a fee for new accounts. Both brokers offer an active trader discount. 

Assets  

Interactive Brokers provides 105 forex currency pairs, while Swissquote has 78 available pairs. Interactive Brokers has 7400 CFDs, while Swissquote has 49 available CFDs. 

Trading platform 

Interactive Brokers offers a premium trading experience with desktop and web platforms. It has some useful educational materials, including advanced trading videos. It is a top choice for professionals, as its platforms follow the industry’s highest standards. 

Swissquote has a proprietary desktop and web platform. It offers premium services with social trading tools. Swissquote has the MetaTrader suite with useful learning materials. It is a good choice for professionals and active traders. 

Banking services  

Banking services are an asset when trading online. Interactive Brokers allows traders to fund their accounts with bank transfers. Swissquote offers bank transfers, credit/debit cards, PayPal, and Skrill. 

Final verdict  

Interactive Brokers and Swissquote are leading online brokers. Both have advantages and disadvantages, depending on your trading needs and experience. We recommend Interactive Brokers to professionals, as it offers premium services. Swissquote is a good choice for traders of all levels of experience. It charges a high minimum deposit fee, which might not be accessible to all investors. 


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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