Online trading services are gaining its popularity both among private and professional investors. Technological developments and society digitalization allow investors to get quick and inexpensive access to a wide variety of financial instruments offered by online trading providers. Online trading services are offered by both banks and securities dealers based in different countries, however Switzerland has its advantages when comparing with other countries, including high-income, innovation driven economy, stable political and economical environment, long traditions in international banking, high guaranteed deposit amount.
While many of Swiss banks focused on wealth management or retail banking offer online trading services, there are several banks which made providing online trading and brokerage services their main business activity (online trading banks). These banks are compared in details below by the following aspects:
Online trading banks considered in details below have several similarities. In particular, these banks
| Bank Name | Business Focus | Country of Origin | Customers Rating | Deposit Protection | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
 | securities trading |  Switzerland | (3.5) | up to 100,000 CHF | |||||||
 | online trading |  United Kingdom | (3.9) | up to 100,000 CHF | |||||||
 | investment and trading services |  Denmark | (3.7) | up to 100,000 CHF | |||||||
 | online brokerage | Switzerland | (2.5) | up to 100,000 CHF | |||||||
 | online brokerage | Switzerland | (3.5) | up to 100,000 CHF | |||||||
Financial instruments made available by an online trading provider to its clients is an important factor to consider. Dukascopy Bank and IG Bank offer more risky financial instruments, while Saxo Bank, STRATEO and Swissquote provide a broader range of instruments.
| Trading Products | | | | | |
|---|---|---|---|---|---|
| Forex | |||||
| Commodities | |||||
| CFDs | |||||
| Binary Options | |||||
| Cryptocurrencies | |||||
| Stocks | |||||
| ETFs | |||||
| Futures | |||||
| Options | |||||
| Bonds | |||||
| Mutual Funds |
SwitzerlandDukascopy brand was launched in 1998 to research, develop, and implement a complex financial system via novel mathematical and econophysical techniques. Over the twenty years Dukascopy has been developed into an international financial group, providing online and mobile trading, banking and payment services to individuals, companies and institutions worldwide. Established in 2010, Dukascopy Bank is a Swiss innovative online bank focused on providing Internet based and mobile trading services, banking and other financial services through proprietary technological solutions. Dukascopy Bank also exercises consolidated supervision over Dukascopy Group entities, ensures adequate liquidity, risk diversification and capital adequacy at the group level.
Dukascopy Bank SA provides products and services in the areas of securities trading, forex trading, CFD trading, crypto-assets trading, white-label solutions, wealth management. Dukascopy Bank SA offers a range of products including current accounts, credit cards, trading accounts. Dukascopy Bank SA makes its solutions available to private individuals, financial institutions.
United KingdomIG Bank is a member of UK-based IG Group. IG Group was founded in 1974 to be focused on OTC leveraged derivatives trading. In 1998 IG Group created the first online dealing platform for financial spread betting. IG Group provide trading and investment services to clients worldwide, and have offices in 16 countries over the world. IG Group is still focused on contracts for difference (CFDs) and spread betting, while extending its product range with non-leveraged share dealing and wealth-management products. IG Bank specializes in providing online leveraged CFD trading services.
IG Bank S.A. provides services in the area of online brokerage. IG Bank S.A. offers a range of products including trading accounts. IG Bank S.A. makes its solutions available to natural persons, companies, financial institutions.
DenmarkSaxo Bank is a privately-owned Danish bank, established in 1992. In 1998 Saxo Bank launched one of the first online trading platforms, making professional-grade tools and multi-asset market access available to everyone. Saxo Bank is a global service provider, operating in different countries via its branches and subsidiaries. Saxo Bank specializes in providing online investment and trading services, allowing individuals, banks and brokers to trade dorex, CFDs, stocks, futures, optionsand other derivatives via its trading platforms online.
SAXO BANK (SCHWEIZ) AG provides products and services in the areas of online investments, online trading services. SAXO BANK (SCHWEIZ) AG offers a range of products including trading accounts, corporate accounts. SAXO BANK (SCHWEIZ) AG makes its solutions available to private individuals, companies.
SwitzerlandSTRATEO was founded in 2009 as Keytrade Bank (Switzerland) and was a subsidiary of Keytrade Bank in Belgium, in 2012 the company was renamed to STRATEO. in June 2016, STRATEO joined Crédit Mutuel Arkéa Group (France). STRATEO specializes is providing online securities trading services to private individuals and asset managers. STRATEO offers online trading accounts opening for residents of more than 100 countries and provides access to 18 international stock markets. On 1 April 2021, STRATEO transferred the majority of its clients to SAXO BANK (SCHWEIZ) AG and ceased its business activities.
STRATEO, Genève provides products and services in the areas of online brokerage, securities trading. STRATEO, Genève offers a range of products including trading accounts, investment plans. STRATEO, Genève makes its solutions available to natural persons, asset managers.
SwitzerlandSwissquote Bank SA is focused on providing online securities trading services to private individuals, businesses and asset managers.In 1996 Swissquote launched its financial platform which allowed private investors to access the prices of all the securities traded on the Swiss exchange in real time.In 2001 Swissquote obtained banking licence. In 2013 Swissquote Bank acquired MIG Banque, specialized in Forex trading. In 2017 Swissquote Bank started offering cryptocurrency trading (Bitcoin, Bitcoin Cash, Ether, Litecoin and Ripple). In 2018 Swissquote Bank acquired Internaxx Bank S.A. (Luxembourg).
Swissquote Bank SA provides products and services in the areas of online brokerage, securities trading, forex trading, crypto-currency trading. Swissquote Bank SA offers a range of products including trading accounts, mortgage loans, lombard loans, payment cards. Swissquote Bank SA makes its solutions available to natural persons, companies, financial institutions.
| Broker | Documents | Authentication | Initial Deposit | Time | |
|---|---|---|---|---|---|
| | passport utility bill application form | video call selfie + documents | 1000 USD | 1 day | Open Account |
| | n/a | instant online verification | 0 | 5 minutes | |
| | passport or ID card ID card, government-issued insurance or tax return application form | n/a | 10000 USD | 1-3 days | |
| | n/a | n/a | 0 | ||
| | passport or ID card utility bill application form | video call | 0 | 1-2 days |
Account opening procedure is usually completed within 1 day.
Dukascopy Bank requires minimal initial deposit of 1000 USD.
Account opening procedure is usually completed within 5 minutes.
IG Bank does not require initial deposit.
Account opening procedure is usually completed within 1-3 days.
SAXO BANK requires minimal initial deposit of 10000 USD.
STRATEO does not require initial deposit.
Account opening procedure is usually completed within 1-2 days.
Swissquote Bank does not require initial deposit.
| Broker | Credit Cards | Debit Cards | Wire Transfers | Bitcoins | Bank Guarantees | Securities Transfers |
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| Broker | Wire Transfers | Bitcoins | Debit Cards | Wire Transfer | Securities Transfers | Cash Withdrawal |
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Funding of your trading account at Dukascopy Bank can be done via credit cards, debit cards, wire transfers, bitcoins, bank guarantees while withdrawal can be performed through wire transfers, bitcoins.
Funding of your trading account at IG Bank can be done via credit cards, debit cards, wire transfers while withdrawal can be performed through debit cards, wire transfer.
Funding of your trading account at SAXO BANK can be done via credit cards, debit cards, wire transfers, securities transfers while withdrawal can be performed through wire transfers, securities transfers.
Funding of your trading account at STRATEO can be done via wire transfers while withdrawal can be performed through wire transfers, cash withdrawal.
Funding of your trading account at Swissquote Bank can be done via wire transfers, securities transfers while withdrawal can be performed through wire transfers, securities transfers.
All fees related to online trading can be classified into two categories: trading and non-trading fees. Non-trading fees are all fees associated with account management and not connected to particular trading transactions. Trading fees in contrary are imposed when particular trading transactions are performed. Among other factors, trading fees depend on financial instruments, markets and currencies.
| | | | | | |
| Account Opening | none | none | none | none | none |
| Account Maintenance | none | none | none | none | none |
| Account Closure | none | none | none | none | none |
| Custody Fees | 1% per year of average gold balance | 24 GBP per quarter | from 0.12 % | from 0.02 % per quarter min 15.00 CHF | 0.025% quarterly min 15 CHF, max 50 CHF |
| Deposit Fee | wire transfers: free payment cards: 1,2%-2,3% | debit cards: free credit cards: 0.5-1.0% wire transfers: free | payment cards: as per Visa/MasterCard wire transfer: free | none | wire transfers: free bank cheques: 30.00 CHF credit cards: 2.2-2.5% |
| Withdrawal Fee | wire transfers: from 2.3 EUR payment cards: 1.5 EUR + 2.5% | none | none | wire transfers (CH): 2.00 CHF wire transfers (non-CH): 15.00 EUR | 2.00 CHF |
| Account Inactivity | max 100 CHF per client per 182 days | 18 USD per month after 24 months | max 100 USD per client per 180 days | none | none |
Trading fees provided below are minimal fees imposed on a private individual when performing a stock transaction at selected stock markets.
| | | | | | |
| US Stock | n/a | 0.00 USD | 3.00 USD | 10.00 USD | 15.00 USD |
| UK Stock | n/a | 3.00 GBP | 5.00 GBP | 15.00 GBP | 25.00 GBP |
| CH Stock | n/a | n/a | 10.00 CHF | 7.5 CHF | 9.00 EUR |
| DE Stock | n/a | 10.00 EUR | 6.00 EUR | 10.00 EUR | 25.00 EUR |
