Written by ForexBrokers.com
In this head to head comparison of Swissquote vs iFOREX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Swissquote and iFOREX, both founded in 1996, are prominent players in the online brokerage landscape, yet they differ significantly in terms of regulation and trustworthiness. Swissquote, a publicly traded company on a stock exchange, is also a fully-fledged bank. This Swiss broker commands a stellar reputation with the highest possible Trust Score of 99 from ForexBrokers.com, backed by its five Tier-1 licenses and two Tier-2 licenses. These certifications underscore Swissquote's status as a highly trusted entity in the industry.
iFOREX, on the other hand, does not share Swissquote's status as a publicly traded company or a bank, and it carries a Trust Score of 75, categorizing it as an average-risk broker. Despite having a single Tier-1 license, iFOREX lacks any Tier-2 licenses, which limits its standing compared to Swissquote's comprehensive regulatory credentials. For traders prioritizing trust and regulatory assurance, Swissquote emerges as the stronger option in comparison to iFOREX.
| Feature |
Swissquote
|
iFOREX
|
|---|---|---|
| Year Founded | 1996 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Swissquote and iFOREX for commissions and fees, Swissquote offers the advantage of holding an account with a reputable Swiss banking conglomerate. However, this comes with a premium that makes Swissquote less competitive in terms of trading costs compared to the lowest-cost forex brokers. With a 3.5-star rating for commissions and fees and a #53 ranking out of 63 brokers by ForexBrokers.com, Swissquote’s U.K. entity provides the most cost-effective options among its different branches. Here, the Elite account with a $10,000 deposit requirement offers lower spreads and a $5 per round-turn trade charge, while the Standard account starts with spreads of 1.3 pips on EUR/USD. Swissquote's Switzerland and Luxembourg accounts also feature varied spreads and deposit requirements, with Premium and Prime accounts providing slightly reduced spreads in exchange for higher deposits.
In contrast, iFOREX, which is rated 3 stars and ranked #61 out of 63 brokers by ForexBrokers.com for commissions and fees, lacks detailed average spread data, making it difficult to provide precise insights into its cost structure. While iFOREX might present itself as a viable choice for some traders, the absence of detailed spread information can be a consideration for those seeking transparency in trading costs. Overall, iFOREX stands lower in the rankings, reflecting a less attractive commission and fee structure compared to Swissquote.
In essence, while Swissquote offers the cachet of a Swiss banking institution and potentially lower costs through its U.K. branch, it still operates at a higher cost level relative to other brokers. iFOREX, without specific spread details, might appeal less to cost-sensitive traders. Both brokers have distinct pricing structures, yet their rankings and star ratings highlight Swissquote as a potentially preferable option for those willing to pay a premium for Swiss banking reliability, provided they understand the nuances of account spreads and deposit requirements.
| Feature |
Swissquote
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $1000 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Swissquote and iFOREX both offer opportunities in forex trading, allowing clients to trade forex either as CFDs or spot contracts. However, when comparing the range of investments, Swissquote appears to take the lead. With a total of 472 tradeable symbols and an impressive 80 forex pairs, Swissquote provides clients access to exchange-traded securities on both U.S. and international exchanges. This means investors can directly purchase shares from well-known companies like Apple and Vodafone, a feature not available with iFOREX. Additionally, Swissquote offers options like copy trading and the ability to buy actual cryptocurrency, setting it apart in its offerings.
On the other hand, iFOREX boasts a higher quantity of tradeable symbols, numbering 750, and offers 88 forex pairs, slightly more than Swissquote. While iFOREX does not provide access to exchange-traded securities on U.S. or international exchanges, it does join Swissquote in offering cryptocurrency derivatives. When considering overall ratings, Swissquote earns a higher rating for its range of investments, with 5 stars, ranking #2 out of 63 brokers according to ForexBrokers.com. iFOREX, while having a respectable rating of 3.5 stars, ranks much lower at #41, indicating a more limited range of investment options compared to Swissquote.
| Feature |
Swissquote
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 472 | 750 |
| Forex Pairs (Total) | 80 | 88 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing Swissquote and iFOREX in terms of trading platforms and tools, several key differences arise. Swissquote offers a comprehensive range of platforms, including a proprietary desktop application for Windows users, alongside a web-based option, providing flexibility for traders. In contrast, iFOREX limits its offering to a browser-based platform. Additionally, Swissquote supports popular systems like MetaTrader 4 and MetaTrader 5, which are not available through iFOREX. Both brokers provide proprietary platforms, yet only Swissquote offers a simulated demo account, making it an attractive option for those keen on practicing their strategies in a risk-free environment.
Charting capabilities at Swissquote are more extensive, with 75 drawing tools compared to iFOREX's 25, and a higher number of columns available for creating in-depth watch lists. While both brokers allow trading directly from stock charts, Swissquote stands out by supporting copy trading, which iFOREX does not. As a result, Swissquote garners a 4.5-star rating in the Trading Platforms and Tools category, surpassing iFOREX's 4-star score, and is ranked 12th by ForexBrokers.com, significantly higher than iFOREX's 54th place. This edge highlights Swissquote's commitment to providing advanced and accessible trading tools for a diverse trader base.
| Feature |
Swissquote
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 86 | 57 |
| Charting - Drawing Tools (Total) | 75 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, Swissquote and iFOREX both cater to iPhone and Android users, enabling access to trading on the go. Swissquote stands out with features like stock and forex price alerts, advanced charting with 30 technical studies, and the ability to draw trendlines directly on charts. Moreover, Swissquote supports multiple time frames for in-depth analysis. Users also enjoy the convenience of watchlists with real-time quotes and auto-saving drawings. In contrast, iFOREX lacks these advanced charting features and does not provide price alerts or real-time watchlists, which can limit the trading experience for some users.
This difference is reflected in Swissquote's higher recognition, boasting a mobile trading app rating of 4.5 stars compared to iFOREX's 4 stars. In a ranking of 63 brokers, Swissquote holds a commendable 12th place, while iFOREX ranks at 55th. Although neither platform offers watchlist symbol syncing, Swissquote's advanced toolkit and higher efficiency make it a more appealing choice for users who need comprehensive mobile trading capabilities. This makes Swissquote a strong contender for traders seeking a more dynamic and informative mobile trading experience.
| Feature |
Swissquote
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Swissquote and iFOREX, both online brokers provide daily market commentary and maintain an economic calendar, keeping traders informed about global events. Swissquote stands out by offering forex news from top-tier sources like Bloomberg and Reuters, and it also provides tools from Autochartist, enhancing its appeal to those who value high-quality market insights and advanced research resources. In contrast, iFOREX does not offer news from such high-profile sources but includes tools from Trading Central, providing customers with different technical analysis options.
For those interested in sentiment-based trading tools, iFOREX offers insight into the ratio of long and short positions, a feature Swissquote does not provide. Despite these differences, Swissquote's comprehensive research capabilities earn it a higher research rating of 4 stars, surpassing iFOREX's 3.5 stars. According to ForexBrokers.com rankings, Swissquote secures the 16th spot among 63 brokers in the Research category, whereas iFOREX is placed at 48th, reflecting Swissquote's more favorable reputation for research among traders.
| Feature |
Swissquote
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners diving into the world of forex and CFD trading, Swissquote stands out as a premier destination for educational resources. Offering a comprehensive suite of materials, Swissquote provides a diverse range including over ten educational pieces such as articles, videos, and archived webinars focusing on forex and CFDs. Additionally, Swissquote hosts monthly online webinars for clients and maintains a searchable archive of past sessions, allowing learners to revisit valuable content anytime. New traders can benefit from over ten beginner-friendly videos and even delve into more advanced topics through their extensive video library. Moreover, Swissquote supports traders with an investor dictionary that explains over fifty investing terms, making complex jargon more accessible.
In comparison, iFOREX offers fewer resources for beginner education in the forex and CFD arena, missing the mark on several key offerings. While iFOREX does provide over ten introductory educational videos for newcomers, it lacks the depth seen in Swissquote's programming, such as regular webinars or a searchable archive of past webinars. This absence might make it challenging for beginners who desire a more interactive learning experience. Although iFOREX's educational efforts received a respectable 3.5-star rating, they lag behind Swissquote's 4-star recognition. On the broader scale, ForexBrokers.com ranks Swissquote at #21 for education out of 63 brokers, while iFOREX sits at a lower #53, highlighting a notable difference in their educational offerings.
| Feature |
Swissquote
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Swissquote is better than iFOREX. Swissquote finished with an overall rank of #11, while iFOREX finished with an overall rank of #52.
Traders choose Swissquote for its quality research and vast multi-asset offering – as long as they are willing to pay a premium to have their brokerage account held with a Swiss bank.
| Feature |
Swissquote
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 75 |
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Swissquote allows investors to purchase actual cryptocurrencies with delivery, unlike iFOREX, which does not offer this service, but both platforms provide the option to trade cryptocurrency derivatives.
Swissquote and iFOREX both provide versatile deposit and withdrawal options, including PayPal, Skrill, Visa or Mastercard, and bank wires, but Swissquote distinguishes itself by additionally offering ACH and SEPA transfers, a feature not available with iFOREX.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Swissquote | iFOREX | |
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| Trust Score | 99 | 75 | |
| Winner | check_circle | ||
| Review | Swissquote Review |
| Broker Screenshots | Swissquote | iFOREX | |
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| Regulation | Swissquote | iFOREX | |
|---|---|---|---|
| Trust Score | 99 | 75 | |
| Year Founded | 1996 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Swissquote | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Swissquote | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Swissquote | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 472 | 750 | |
| Forex Pairs (Total) | 80 | 88 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Swissquote | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Swissquote | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $1000 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Swissquote | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Swissquote | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 11 | 9 | |
| Charting - Indicators / Studies (Total) | 86 | 57 | |
| Charting - Drawing Tools (Total) | 75 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Swissquote | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Swissquote | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Swissquote | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Swissquote | iFOREX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Swissquote Review |
| Overall | Swissquote | iFOREX | |
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| Trust Score | 99 | 75 | |
| Winner | check_circle | ||
| Review | Swissquote Review |
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