Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs Swissquote, 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.
Interactive Brokers, established in 1977, and Swissquote, founded in 1996, are both prominent names in the online brokerage space, each publicly traded and equipped with a high level of trust according to forex ratings. Interactive Brokers boasts a perfect Trust Score of 99 from ForexBrokers.com, showcasing its reliability with 9 highly trusted Tier-1 licenses and 2 trusted Tier-2 licenses. Swissquote, also with a Trust Score of 99, combines its brokerage services with banking capabilities, holding 5 Tier-1 licenses and 2 Tier-2 licenses, emphasizing its trustworthy standing in the financial sector.
For investors evaluating these platforms, it's important to note that Interactive Brokers is not a bank but offers an extensive range of financial services, while Swissquote operates as both a bank and a broker. This dual function might appeal to clients seeking a more comprehensive financial service under one roof. Both brokers are reliable choices, yet the choice hinges on whether the integrated banking service of Swissquote or the sheer number of high-trust licenses held by Interactive Brokers aligns better with your needs.
| Feature |
Interactive Brokers
|
Swissquote
|
|---|---|---|
| Year Founded | 1977 | 1996 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 9 | 5 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Interactive Brokers is recognized for its competitive pricing, especially in forex trading, where commissions start at 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a minimum of $2 per order. The effective all-in spread for EUR/USD during Q3 2024 was 0.59 pips, which is quite favorable. Interactive Brokers aggregates prices from 17 leading interbank forex dealers and employs an agency execution method that emphasizes transparency, charging a commission per trade instead of marking up spreads. Discounts are available for highly active traders, reducing the minimum commission further for those reaching significant trading volumes. Interactive Brokers boasts a 5-star rating for its commissions and fees and is ranked #2 out of 63 brokers by ForexBrokers.com.
In contrast, Swissquote's fees and commissions reflect a higher cost, maintaining its image as part of a prestigious Swiss banking group. Swissquote's U.K. entity offers lower costs with its Elite account, featuring a $5 charge per round-turn trade, suitable for active traders with a deposit of at least $10,000. The Standard account at Swissquote starts with spreads on the EUR/USD at 1.3 pips, while the Prime account lowers spreads to 0.6 pips, though these are still minimums rather than average prices. Swissquote's Luxembourg and Swiss branches present various account options with differing spread and deposit requirements, but generally, their pricing remains less competitive. Swissquote has a 3.5-star rating and ranks #53 out of 63 brokers in the Commissions and Fees category at ForexBrokers.com.
Overall, Interactive Brokers offers traders a more cost-effective solution, particularly for those with high trading volumes, while Swissquote appeals to those attracted by the security and prestige of a Swiss banking institution. However, this comes at a higher cost, making Interactive Brokers a more appealing choice for traders focused on minimizing trading expenses.
| Feature |
Interactive Brokers
|
Swissquote
|
|---|---|---|
| Minimum Deposit | $0 | $1000 |
| Average Spread EUR/USD - Standard | 0.59 | N/A |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Interactive Brokers to Swissquote, both online brokers offer an impressive variety of investment opportunities, making them popular choices for investors. Interactive Brokers provides access to a broad spectrum of 8,500 tradeable symbols, including a diverse range of 90 forex pairs, along with the option of forex trading as a CFD or spot contract. Similarly, Swissquote enables forex trading as both a CFD and spot contract, though with a slightly narrower selection of 472 tradeable symbols and 80 forex pairs. Both brokers facilitate the buying of exchange-traded securities on U.S. and international exchanges, allowing investors to diversify their portfolios with ease. Additionally, both platforms offer the ability to purchase actual cryptocurrency and its derivatives, catering to the growing interest in digital assets.
Despite these similarities, a notable distinction is found in their available features; Swissquote supports copy trading, a feature absent from Interactive Brokers' offerings. This difference might appeal to investors interested in mimicking successful trading strategies without executing trades themselves. In terms of recognition for their investment range, both brokers receive top ratings of 5 stars. However, Interactive Brokers holds the top spot, ranked number one by ForexBrokers.com, while Swissquote is closely ranked second out of 63 brokers for their comprehensive range of investments. These rankings reflect their commitment to providing investors with a versatile set of trading options.
| Feature |
Interactive Brokers
|
Swissquote
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 472 |
| Forex Pairs (Total) | 90 | 80 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | Yes |
| 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.
Interactive Brokers and Swissquote both offer demo accounts for simulated trading, allowing users to explore their platforms risk-free. Each broker has developed a proprietary platform, offering downloadable desktop software compatible with Windows and web-based options accessible through a browser. Swissquote provides additional versatility with the integration of popular platforms MetaTrader 4 and MetaTrader 5, which Interactive Brokers does not offer. Moreover, Swissquote supports copy trading, a feature absent from Interactive Brokers' offerings. Both brokers offer the functionality to trade directly from stock charts, yet Interactive Brokers stands out with 85 drawing tools compared to Swissquote's 75.
In terms of data and customization, Interactive Brokers excels with an expansive 659 fields available for watch lists, while Swissquote offers just 11. These extensive options contribute to Interactive Brokers' stellar 5-star rating for Trading Platforms and Tools, earning them the #3 spot in the category among 63 brokers as per ForexBrokers.com. Swissquote follows closely with a strong 4.5-star rating and a ranking of #12. Both brokers deliver quality platforms, but Interactive Brokers distinguishes itself with its more comprehensive toolset and customization features.
| Feature |
Interactive Brokers
|
Swissquote
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 86 |
| Charting - Drawing Tools (Total) | 85 | 75 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and Swissquote offer mobile trading apps on iPhone and Android platforms, appealing to traders who prefer trading on the go. While both platforms provide stock or forex price alerts and the ability to draw trendlines and view multiple time frames on charts, Interactive Brokers offers more technical studies with 97 options compared to Swissquote's 30. Additionally, Interactive Brokers allows for seamless watchlist syncing between its mobile app and online account, a feature absent in Swissquote. However, Swissquote makes up for it by offering auto-save for chart drawings, a feature lacking in the Interactive Brokers app.
For those who value real-time quotes and top-tier mobile trading experiences, Interactive Brokers stands out with a perfect 5-star rating, securing the #4 spot among 63 brokers, according to ForexBrokers.com. Swissquote isn’t far behind with a respectable 4.5-star rating and a #12 ranking. While both apps deliver a comprehensive range of functionalities, the choice between them may depend on specific trader preferences, such as the number of available technical studies and the convenience of synced watchlists.
| Feature |
Interactive Brokers
|
Swissquote
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research features of Interactive Brokers and Swissquote, both platforms offer daily market commentary and forex news from leading sources like Bloomberg and Reuters. Interactive Brokers shines with a range of advanced research tools. It includes options like Trading Central for technical analytics and offers sentiment-based trading tools and TipRanks market research, which Swissquote lacks. Swissquote, on the other hand, provides tools from Autochartist for technical analysis but does not match the breadth of Interactive Brokers' offerings.
Both platforms provide an economic calendar for tracking global events. However, Interactive Brokers excels in its overall research capabilities, earning a perfect 5-star rating and ranking third among 63 brokers on ForexBrokers.com. Swissquote, while still impressive with a 4-star rating, ranks 16th, highlighting Interactive Brokers as the superior choice for those focused on comprehensive market research.
| Feature |
Interactive Brokers
|
Swissquote
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Interactive Brokers and Swissquote for educational offerings to beginners, both provide comprehensive resources, including a wide array of educational content on forex or CFDs. Users can access more than ten substantive pieces, such as articles, videos, and archived webinars. Furthermore, each platform hosts at least one online client webinar monthly, complemented by accessible archives for those who wish to learn at their own pace. This structured and engaging approach to education equips novice traders with the foundational skills they need to begin trading confidently.
Interactive Brokers takes the lead with a strong focus on education, achieving a rating of 5 stars and ranking third out of 63 brokers by ForexBrokers.com. The platform offers a well-rounded learning experience, including at least ten beginner-focused videos, ten advanced videos, and an investor dictionary featuring over fifty investment terms. In comparison, Swissquote also boasts impressive educational resources but garners a slightly lower rating of 4 stars and ranks twenty-first. Despite this, Swissquote remains a solid choice, providing similar volumes of educational content, ensuring beginners have ample opportunity to develop their trading knowledge and skills.
| Feature |
Interactive Brokers
|
Swissquote
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than Swissquote. Interactive Brokers finished with an overall rank of #2, while Swissquote finished with an overall rank of #11.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
|
Swissquote
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both Interactive Brokers and Swissquote provide investors with the ability to purchase actual, delivered cryptocurrencies as well as cryptocurrency derivatives, offering comprehensive options for trading digital assets.
Interactive Brokers and Swissquote both support ACH and SEPA transfers, as well as bank wires for depositing or withdrawing account funds, but Swissquote additionally offers PayPal, Skrill, and Visa or Mastercard options, which Interactive Brokers does not provide.
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 | Interactive Brokers | Swissquote | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Swissquote Review |
| Broker Screenshots | Interactive Brokers | Swissquote | |
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| Regulation | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1977 | 1996 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 5 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | Yes | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | Yes | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 472 | |
| Forex Pairs (Total) | 90 | 80 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | Yes | |
| 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 | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | N/A | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Minimum Deposit | $0 | $1000 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 11 | |
| Charting - Indicators / Studies (Total) | 155 | 86 | |
| Charting - Drawing Tools (Total) | 85 | 75 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | Swissquote | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | Swissquote | |
|---|---|---|---|
| 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 | Interactive Brokers Review | Swissquote Review |
| Overall | Interactive Brokers | Swissquote | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Swissquote Review |
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