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).
Becoming a client of Swissquote Bank SA can be done in a few steps:
Due to regulatory requirements Swissquote Bank SA performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Swissquote Bank SA will ask him/her to provide the following documents: passport or ID card; utility bill. For corporate clients Swissquote Bank SA will ask to provide corporate documentation as well as information about controlling persons. Swissquote Bank SA may request additional documentation or information depending on the case. Swissquote Bank SA performs client's identity verification via video call. Account opening procedure is usually completed within 1-2 days.
Swissquote Bank SA is the 55th largest bank in Switzerland in terms of total assets. In 2019 its total assets were 5 907,67 mln CHF, providing the bank with the market share of 0.18%. Swissquote Bank SA is the 7th largest stock exchange bank in Switzerland (out of 42 stock exchange banks) having market share of 2.64% amongst the banks of this category.
Swissquote Bank SA participates in the deposit guarantee scheme of Switzerland. This deposit guarantee scheme applies to credit balances made by private individuals (Swiss and foreign), legal entities (Swiss and foreign) and covers up to up to 100,000 CHF per bank per depositor. Swissquote Bank SA is a member of esisuisse – Deposit Insurance (ESI) and makes its contributions into it.
Swissquote Bank SA is headquartered in Gland.
Swissquote Bank SA is authorized and supervised by the Swiss Financial Market Supervisory Authority (reference number CHE-102.383.586).