FAQ

Encontrará aquí las respuestas de Swissquote a las preguntas que más frecuentemente se plantean. Sírvase contactarnos por toda otra pregunta o información.

PREGUNTAS FRECUENTES GENERALES

What are Swissquote Bank’s opening hours?

Sunday 23:00 CET through Friday 23:00 CET.

Do you manage funds?

Swissquote provides an execution only online service. We do not offer a managed-account service.

What regulatory body is Swissquote Bank supervised by?

Swissquote Bank SA is regulated by the FINMA - the Swiss Financial Market Supervisory Authority.

Where does market news come from?

Swissquote's market news is provided by Dow Jones News Wires and Bloomberg International. Swissquote also offers FX Insider to live clients. This feed is linked directly into the Advanced Trader platform and the information is provided by our Strategy Desk, led by Peter Rosenstreich.

¿Se puede mantener abierta una cuenta sin fondos?

Los clientes pueden retirar íntegramente sus fondos sin penalización. Sin embargo, en este caso la cuenta se marcará como inactiva. La cuenta permanecerá abierta hasta que el cliente decida volver a invertir con Swissquote o cerrar su cuenta.

CUENTAS

Is it possible to keep an account open with no funds?

The totality of a client's funds may be withdrawn without penalty. However, in this case the account will be flagged inactive. The account will remain open until the client decides to reinvest with Swissquote or close their account.

Can I transfer funds from my trading account to the trading account of another client?

No, it is forbidden to transfer funds between different clients’ accounts and third parties.

Does Swissquote pay interest on the outstanding balance of my account?

No, your account does not earn interest. It is a trading account, not a bank account.

Do you charge fees or commissions when opening an account with Swissquote?

Swissquote does not charge fees for client deposits nor withdrawals. However, banks may charge wire transfer fees. It is important to ask your bank what their applicable fees will be when initiating a wire transfer.

How much time is required before my transferred funds are deposited?

Swissquote handles all transactions the day they are received, however, transaction time also depends on the processing time required by the depository bank.

Can my account be denominated in other currencies than US dollars?

Yes, you can choose to have your account denominated in USD, EUR or GBP.

How does one withdraw their funds?

Clients may withdraw their funds by sending an email to the Back Office (forex.backoffice@swissquote.ch). Each request must provide their full name, phone number, e-mail address and account number. Once the Back Office has received the request and all security checks are in order, the client will receive the money by standard wire transfer to his/her account. In accordance with Swiss Anti-Money Laundering practices, Swissquote Bank will only send funds to a registered account under the client's name or business.

Is there a minimum amount of trades a customer must do?

No. Swissquote charges no inactivity fees nor penalizes customers for their trading habits.

What is the procedure for switching from one account type to another?

Clients may change their account type by sending an email to the Back Office (forex.backoffice@swissquote.ch). Upon request they must provide their full name, phone number, e-mail address, account number and the change they'd like to make.

Is it possible to keep an account open with no funds?

The totality of a client's funds may be withdrawn without penalty. However, in this case the account will be flagged inactive. The account will remain open until the client decides to reinvest with Swissquote or close their account.

TRADING

Can I trade mini-lots with Swissquote?

Yes. Account Holders are authorised to trade mini-lots. The minimum amount is point 0.1 lot (10,000 of the base currency).

Can I trade Mini-Step Lots with Swissquote?

Yes. Account Holders are authorised to trade mini-step lots. Step Lot trading begins at 0.1 lot and permits increments of 0.1, 0.11, 0.12 etc.

What do you mean by a 'No maintenance margin' policy?

Our no maintenance margin policy means that our clients can go below the margin requirements during the week without Swissquote closing their positions. Throughout the week your positions can fluctuate without Swissquote taking action. We only require you to respect the margin requirements before 23:00 CET (22:00 UK time) every evening. This no maintenance margin policy means that we do not give margin calls and we do not automatically close your positions if you go below the margin requirements of your positions. However, if you approach the level where the loss of your open positions approaches the balance of your account, you will be stopped out and your positions will be closed. The stop out will be executed when there is only around 2% equity of the required margin left in the account.
We believe that our no maintenance margin policy gives more flexibility to the clients, as they can decide for themselves when they want a position to be closed. Occasionally, if the market price is going against you, many of our competitors would close the position if it goes below the required margin - even if the price bounces back the next moment. We give the client complete control over their positions.

What is margin?

In financial trading, the word margin is used to describe a deposit used as collateral for taking positions in the market. Trading with margin allows traders to basically open positions on credit - increasing the client's buying power. Swissquote allows clients to use 100:1 leverage, thus requiring a 1% margin requirement (for tickets up to $30M).

The amount of leverage refers to the maximum a client may buy on "credit" and the minimum he must maintain as collateral. Dividing 1 by 100, the minimum margin requirement is found to be 1% [converted to a percentage]. If a client were allotted 50:1 or 25:1 leverage, the maintenance margin levels would be 2% and 4% respectively.

What is margin level?

Margin level is a reflection of one's available margin determined by the ratio of one's total exposure, open profit or loss and equity on a trading account. If a client were trading with 100:1 leverage, he/she must maintain a margin level above 1%. Should this level fall below the 1% threshold, all open positions and orders will be closed automatically.

What time does Forex trading open and close?

The Forex trading opens on Sunday at 23.00 and CET closes on Friday at 23.00 CET.

How does Swissquote handle overnight positions?

Positions held overnight are automatically rolled to the next trading day. The cost of carry for holding a position overnight can either be a credit or debit to the clients account, depending on the assets and orientations of their positions.

If there is a price gap during overnight/weekend period, will a pending order still be executed at the specified price?

Swissquote will execute your order at the best price available. In the event of a market gap, the order will be triggered with the market open and executed as close to the specific price as possible.

Are there any situations when the spread will increase?

As Swissquote does not make the market on currency pairs, our clients cannot have fixed spreads. Spreads may increase in times of extreme market volatility or lack of liquidity. However, Swissquote connects to more liquidity providers in North America and Europe than any other STP broker. This added liquidity keeps advertised spreads fairly consistent and diminishes the risk of spread widening.

What are conditions surrounding precious metal trading?

Swissquote offers spot Gold and Silver trading against the US dollar. The pairs are represented on the trading platform similar to currency pairs: Gold - XAU/USD Silver - XAG/USD. Spot Gold/Silver trading is available to Swissquote clients during liquid hours, from 0730 - 2230 CET, Monday-Friday. The standard dealing amount is 1 ounce for Gold and Silver.

What are the minimum dealing amounts for Swissquote accounts?

To trade FX, the minimum amount is 1K.

On the internet, I keep seeing references to DD and NDD. What do these terms refer to?

DD stands for Dealing Desk and NDD for No Dealing Desk. A Dealing Desk firm is also known as a market maker, sometimes abbreviated MM.

What is a Market Maker?

A market maker provides a buy and sell price in a financial instrument and acts as the counterparty of the transaction with its clients.

Is Swissquote an ECN (Electronic Communication Network) broker?

No. An ECN broker electronically matches trades between the participants in the ECN platform. There are limitations with ECNs as there may not be enough liquidity available due to lack of participants placing bids and offers in the ECN which will cause unstable spreads and partial trade executions. Our business model provides consistent liquidity and stable spreads offering clients better execution conditions versus ECN platforms.

TECNOLOGIA

I would like to program my own Expert Advisor for automated trading. How do I do that?

If you are familiar with programming you may want to program an Expert Advisor yourself. For clients who have developed a trading strategy and need help programming, Swissquote now offers a programming service for free. For more information, please contact Client Services.

Can I have the period of my demo account extended beyond the 30 days?

All demo accounts automatically expire after 30 days. Unfortunately, it is not possible to extend this period. Please be aware that all data regarding the demo account will be lost when the account expires. If you want to keep a copy of your trade history, we advise you to copy the account statement to your computer. To do that, go to Account History in the Terminal, right-click and choose 'Save as Report'.

How is volume calculated on the charts?

The volume is the amount of incoming ticks. If the price is constantly changing, it is an indication of a large volume - the more changes, the more activity and the larger the volume.

Does the MT4 offer the trailing stop feature?

Yes. It is active on the demo platform, however, live accounts require a Trailing Stop Request. To activate the Trailing Stop on a position, go to 'Trade' in the 'Terminal' at the bottom of the platform, right-click and choose Trailing Stops. Please note that you have to be making a profit of minimum 15 pips before you can activate it.
IMPORTANT – Your MT4 terminal must be on at all times for this feature to work or your account will be exposed to unlimited risk.

Does the platform allow hedging?

You can open hedge positions (hold both long and short positions of the same pair) on the MT4 platform.

I have downloaded the MT4 but the platform says 'no connection'. How do I connect?

When you download the platform it is important that you open a demo account in the system. The system cannot connect if there is no account. If you did not fill the grey box that popped up when you installed the platform, just go to 'File' in the menu and choose 'Open an Account'. Fill the box that appears and remember to tick the box about newsletters. You should now receive an account with login and password and you will connect to the server - please accept the updates, when proposed.

How do I troubleshoot problems with the Advanced Trader platform?

The Advanced Trader platform is a Java-based program. If the platform is unusually slow or a problem occurs, often times this is because the client's Java Cache is overloaded; many programs/websites store information on a person's computer within their cache. To quickly resolve this issue, a person must simply clean out their Java cache.

PREGUNTAS SOBRE RETIRADAS DE FONDOS

Can I withdraw my money whenever I want?

Yes. Just fax us your Fund Withdrawal Request form and Swissquote will wire the funds to your bank account.

How does one withdraw their funds?

Clients may withdraw their funds by sending an email to the Back Office (forex.backoffice@swissquote.ch). Each request must provide their full name, phone number, e-mail address and account number. Once the Back Office has received the request and all security checks are in order, the client will receive the money by standard wire transfer to his/her account. In accordance with Swiss Anti-Money Laundering practices, Swissquote Bank will only send funds to a registered account under the client's name or business.

Can I withdraw money if I have open positions?

Yes, you can. However, you will not be able to withdraw an amount higher than the free equity on your account.
Also, if you withdraw most of your free equity, please bear in mind that the risk of seeing your open positions being stopped-out increases, due to less margin available.

Is there a minimum amount I am allowed to withdraw?

No, you can withdraw any amount you wish.
However, considering that fees will be charged by other banks involved in the withdrawal process, it makes sense to request a withdrawal for a sensible amount: our recommendation is not to request a withdrawal of any amount less than USD 100.00 (or equivalent).

How often can I withdraw money?

You can withdraw money as often as you like. However, please consider the fact that fees charged by other banks involved in the transfer may occur. In order to minimise these fees we advise you to avoid frequent withdrawals, for example make a larger withdrawal instead of 3 smaller withdrawals.

What is “BIC”?

“BIC” stands for “Bank Identifier Code”, and uniquely identifies a bank within the SWIFT network, the largest network of bank-to-bank instructions used by about 10,000 financial institutions throughout the World.
Providing BIC ensures that your money arrives faster. We urge you to get this information from your bank.

What is “IBAN”?

“IBAN” stands for “International Bank Account Number” and serves as an ID of your bank account.
IBAN is mandatory for payments within European countries; we therefore strongly advise you to check with your bank if an IBAN is provided for your account, as this information will:
  1. speed up the settlement of your withdrawal,
  2. avoid additional bank fees being charged (no IBAN allows banks to charge extra fees)
  3. prevent your withdrawal from being returned to Swissquote (banks can refuse transfer without warning if no IBAN is provided).