Compare Swiss Online Trading Banks

1 April 2020

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

Online trading banks considered in details below have several similarities. In particular, these banks

Business Focus
securities trading
Country of Origin
CHSwitzerland
Rating
 (4.4)
Deposit Protection
CHup to 100,000 CHF
Business Focus
online trading
Country of Origin
GBUnited Kingdom
Rating
 (3.7)
Deposit Protection
CHup to 100,000 CHF
Business Focus
investment and trading services
Country of Origin
DKDenmark
Rating
 (4.3)
Deposit Protection
CHup to 100,000 CHF
Business Focus
online brokerage
Country of Origin
CHSwitzerland
Rating
 (4.2)
Deposit Protection
CHup to 100,000 CHF
Business Focus
online brokerage
Country of Origin
CHSwitzerland
Rating
 (4.0)
Deposit Protection
CHup to 100,000 CHF

Available Financial Instruments

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

Dukascopy Bank

Customer Rating
 (4.4; 20 ratings)
Country of Origin
CHSwitzerland

Dukascopy 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.

Available Financial Instruments

forex
commodities
CFDs
binary options
cryptocurrencies

Not Available Financial Instruments

stocks
ETFs
futures
options
bonds
mutual funds

IG Bank

Customer Rating
 (3.7; 3 ratings)
Country of Origin
GBUnited Kingdom

IG 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.

Available Financial Instruments

CFDs
stocks
ETFs

Not Available Financial Instruments

forex
commodities
binary options
cryptocurrencies
futures
options
bonds
mutual funds

SAXO BANK

Customer Rating
 (4.3; 26 ratings)
Country of Origin
DKDenmark

Saxo 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, options and 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.

Available Financial Instruments

forex
CFDs
futures
options
commodities
stocks
bonds
ETFs
mutual funds

Not Available Financial Instruments

binary options
cryptocurrencies

STRATEO

Customer Rating
 (4.2; 5 ratings)
Country of Origin
CHSwitzerland

STRATEO 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.

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.

Available Financial Instruments

forex
CFDs
stocks
ETFs
mutual funds
futures
options
bonds

Not Available Financial Instruments

commodities
binary options
cryptocurrencies

Swissquote Bank

Customer Rating
 (4.0; 25 ratings)
Country of Origin
CHSwitzerland

Swissquote 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.

Available Financial Instruments

stocks
bonds
ETFs
mutual funds
options
futures
forex
cryptocurrencies

Not Available Financial Instruments

commodities
CFDs
binary options

Account Opening

Broker Documents Authentication Initial Deposit Time
 
passport
utility bill
application form
video call
selfie + documents
1000 USD1 day Open Account
 
passport
proof of address
application form
instant online verification05 minutes
 
passport or ID card
ID card, government-issued insurance or tax return
application form
n/a10000 USD1-3 days
 
passport or ID card
application form
video call02-3 days
 
passport or ID card
utility bill
application form
video call01-2 days

How to Open a Dukascopy Bank Account

Opening an account in Dukascopy Bank can be done in a few steps:
1.
Submit online application
2.
Upload documents
3.
Verify your identity
4.
Account is ready within 1 day


Required Documents

passport
utility bill

Identity Verification

video call
selfie + documents

While onboarding a private individual Dukascopy Bank will ask him/her to provide the following documents: passport; utility bill. For corporate clients Dukascopy Bank will ask to provide corporate documentation as well as information about controlling persons. Dukascopy Bank may request additional documentation or information depending on the case. Dukascopy Bank performs client's identity verification via one of the following methods: video call, selfie + documents.

Account opening procedure is usually completed within 1 day.

Dukascopy Bank requires minimal initial deposit of 1000 USD.

Advantages

Performed completely online
Available in almost every country
Fast account verification

Disadvantages

Relatively high initial deposit

How to Open a IG Bank Account

Opening an account in IG Bank can be done in a few steps:
1.
Submit online application
2.
Verify your identity
3.
Account is ready within 5 minutes


Required Documents

passport
proof of address

Identity Verification

instant online verification

While onboarding a private individual IG Bank will ask him/her to provide the following documents: passport; proof of address. For corporate clients IG Bank will ask to provide corporate documentation as well as information about controlling persons. IG Bank may request additional documentation or information depending on the case. IG Bank performs client's identity verification via instant online verification.

Account opening procedure is usually completed within 5 minutes.

IG Bank does not require initial deposit.

Advantages

Performed completely online
Available in almost every country
Fast account verification
No initial deposit

Disadvantages

How to Open a SAXO BANK Account

Opening an account in SAXO BANK can be done in a few steps:
1.
Submit online application
2.
Upload documents
3.
Account is ready within 1-3 days


Required Documents

passport or ID card
ID card, government-issued insurance or tax return

Identity Verification

n/a

While onboarding a private individual SAXO BANK will ask him/her to provide the following documents: passport or ID card; ID card, government-issued insurance or tax return. For corporate clients SAXO BANK will ask to provide corporate documentation as well as information about controlling persons. SAXO BANK may request additional documentation or information depending on the case.

Account opening procedure is usually completed within 1-3 days.

SAXO BANK requires minimal initial deposit of 10000 USD.

Advantages

Performed completely online
Available in almost every country

Disadvantages

Relatively slow account verification
High initial deposit

How to Open a STRATEO Account

Opening an account in STRATEO can be done in a few steps:
1.
Submit online application
2.
Upload documents
3.
Verify your identity
4.
Account is ready within 2-3 days


Required Documents

passport or ID card

Identity Verification

video call

While onboarding a private individual STRATEO will ask him/her to provide the following documents: passport or ID card. For corporate clients STRATEO will ask to provide corporate documentation as well as information about controlling persons. STRATEO may request additional documentation or information depending on the case. STRATEO performs client's identity verification via video call.

Account opening procedure is usually completed within 2-3 days.

STRATEO does not require initial deposit.

Advantages

Performed completely online
Available in almost every country
No initial deposit

Disadvantages

Relatively slow account verification

How to Open a Swissquote Bank Account

Opening an account in Swissquote Bank can be done in a few steps:
1.
Submit online application
2.
Upload documents
3.
Verify your identity
4.
Account is ready within 1-2 days


Required Documents

passport or ID card
utility bill

Identity Verification

video call

While onboarding a private individual Swissquote Bank will ask him/her to provide the following documents: passport or ID card; utility bill. For corporate clients Swissquote Bank will ask to provide corporate documentation as well as information about controlling persons. Swissquote Bank may request additional documentation or information depending on the case. Swissquote Bank performs client's identity verification via video call.

Account opening procedure is usually completed within 1-2 days.

Swissquote Bank does not require initial deposit.

Advantages

Performed completely online
Available in almost every country
No initial deposit

Disadvantages

Relatively slow account verification

Account Funding and Withdrawals

Funding

BrokerCredit CardsDebit CardsWire TransfersBitcoinsBank GuaranteesSecurities Transfers
 
 
 
 
 

Withdrawals

BrokerWire TransfersBitcoinsDebit CardsWire TransferSecurities TransfersCash Withdrawal
 
 
 
 
 

Dukascopy Bank

Funding Methods

credit cards
debit cards
wire transfers
bitcoins
bank guarantees

Withdrawal Methods

wire transfers
bitcoins

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.

Advantages

funding with credit and debit cards
bitcoins funding/withdrawals
broad range of payment methods

Disadvantages

low limits on bitcoins transfers

IG Bank

Funding Methods

credit cards
debit cards
wire transfers

Withdrawal Methods

debit cards
wire transfer

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.

Advantages

funding with credit and debit cards
withdrawals to debit cards

Disadvantages

none

SAXO BANK

Funding Methods

credit cards
debit cards
wire transfers
securities transfers

Withdrawal Methods

wire transfers
securities transfers

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.

Advantages

funding with credit and debit cards
withdrawals to debit cards

Disadvantages

no withdrawals to debit cards

STRATEO

Funding Methods

wire transfers

Withdrawal Methods

wire transfers
cash withdrawal

Funding of your trading account at STRATEO can be done via wire transfers while withdrawal can be performed through wire transfers, cash withdrawal.

Advantages

none

Disadvantages

funding with wire transfers only
no funding with debit/credit cards

Swissquote Bank

Funding Methods

wire transfers
securities transfers

Withdrawal Methods

wire transfers
securities transfers

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.

Advantages

securities transfers

Disadvantages

no funding with debit/credit cards

Account Fees

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.

Non-Trading Fees

 
 
 
 
 
Account Openingnonenonenonenonenone
Account Maintenancenonenonenonenonenone
Account Closurenonenonenonenonenone
Custody Fees1% per year of average gold balance24 GBP per quarterfrom 0.12 %from 0.02 % per quarter
min 15.00 CHF
0.025% quarterly
min 15 CHF, max 50 CHF
Deposit Feewire 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
nonewire transfers: free
bank cheques: 30.00 CHF
credit cards: 2.2-2.5%
Withdrawal Feewire transfers: from 2.3 EUR
payment cards: 1.5 EUR + 2.5%
nonenonewire transfers (CH): 2.00 CHF
wire transfers (non-CH): 15.00 EUR
2.00 CHF
Account Inactivitymax 100 CHF per client per 182 days18 USD per month after 24 monthsmax 100 USD per client per 180 daysnonenone

Trading Fees

Trading fees provided below are minimal fees imposed on a private individual when performing a stock transaction at selected stock markets.

 
 
 
 
 
US Stockn/a0.00 USD3.00 USD10.00 USD15.00 USD
UK Stockn/a3.00 GBP5.00 GBP15.00 GBP25.00 GBP
CH Stockn/an/a10.00 CHF7.5 CHF9.00 EUR
DE Stockn/a10.00 EUR6.00 EUR10.00 EUR25.00 EUR

See Also