Forex Brokers in Switzerland in 2024

Forex trading has gained popularity in recent years, and many people in Switzerland have joined the trend, looking for opportunities to invest in the foreign exchange market. With the rise in demand for forex trading services, there has been an increase in the number of forex brokers in Switzerland. 

Choosing the best forex broker can be a daunting task, especially for beginners, as there are many factors to consider, such as regulation, trading platform, fees, and customer service. In this article, we will take a look at some of the best forex brokers in Switzerland, based on these key criteria, to help you make an informed decision when selecting the right broker for your forex trading needs.

A List of Top Forex Brokers in Switzerland

To find the best forex brokers in Switzerland, we tested 100+ brokers and ranked them based on different criteria. These ranking factors include reputation, regulatory compliance, trading experience, customer support, and more. With our carefully curated list, you can be sure you’re choosing a broker that meets all your needs.

Here is the list of the top 10 forex brokers in  Switzerland

• Icmarkets
• Pepperstone
• Etoro
• XM
• Exness
• Oanda
• FBS
• Hotforex 
• Eightcap
• FXTM

Comparison of Best Forex Brokers in Switzerland

Best Forex Brokers in Switzerland Reviewed

ICmarkets.com – Best for Tight Spread

IC Market is a leading Forex broker established in 2017 and regulated in Australia. It offers tight spreads, fast execution and reliable trading conditions for traders of all experience levels. With its popular MetaTrader, cTrader and Web platforms, as well as mobile trading options, IC Market allows you to trade from anywhere at any time.

IC Markets is an established Forex broker that has been providing online trading services since 2007. They are a leading provider of Forex, CFDs and Cryptocurrencies, offering over 60 currency pairs, 1600+ CFDs, and 10+ Cryptocurrencies, to both retail and institutional clients. With their cutting-edge technology, IC Markets offer some of the best trading conditions in the industry, allowing traders to take advantage of low spreads, no requotes, fast execution, as well as a wide range of trading tools such as Expert Advisors (EAs) and scalping. Additionally, they offer a variety of additional services, such as a MAM Account and Zulutrade Social Trading, to help traders further enhance their trading experience.

Our Ratings

Pros:

• Low spreads and commission rates 
• High leverage and competitive pricing 
• Wide range of currency pairs and other trading instruments 
• Regulated by ASIC 
• User-friendly platform 

Cons:

• Limited customer support options 
• Limited educational resources

Pepperstone.com — For Islamic Account

Pepperstone is a regulated broker based in Australia, established in 2010. They offer a variety of trading platforms, including MT4, MT5, cTrader, DupliTrade, and TradingView, as well as an Islamic account option for their customers. Pepperstone is committed to providing a secure and reliable trading experience for all traders, and they strive to provide the best possible service.

Pepperstone is an excellent broker for traders of all levels. It offers a wide range of trading instruments, including over 60 currencies, 20+ cryptos, and more than 1200 CFDs. Its trading conditions are highly attractive, allowing traders to use Expert Advisors or Robots, as well as Scalping and News Trading. Moreover, Pepperstone provides additional facilities such as MAM and PAMM accounts, and also Copy Trading, making it a great choice for both experienced and novice traders.

Our Ratings

Pros:

• Low fees and low spreads – Pepperstone offers competitive spreads and low commissions that help traders save money on their trading. 
• Variety of trading platforms – Pepperstone offers a variety of trading platforms such as MT4, MT5, cTrader and Web Trader that can help traders find the platform that is most suitable for their trading style. 
• Variety of account types – Pepperstone offers different account types such as Standard, Razor and Active Trader to meet different trading needs. 
• Excellent customer service – Pepperstone offers 24/7 customer service with knowledgeable and experienced customer service representatives. 
• Wide range of products – Pepperstone offers a wide range of products including forex, indices, commodities, and cryptocurrencies. 

Cons:

• Limited range of educational materials – Pepperstone offers some educational resources, but they are limited compared to other brokers. 
• Limited range of research tools – Pepperstone offers some research tools, but they are not as comprehensive as those offered by other brokers.

Etoro.com – Best for Social Copy Trading

Etoro is a regulated broker based in the United Kingdom, established in 2007. It is best known for its social copy trading feature, allowing traders to copy the strategies of experienced traders. Etoro offers its trading platform, which is easy to use and intuitive to navigate. It also offers a wide range of assets, including stocks, indices, commodities, and cryptocurrencies. Etoro is a great choice for traders looking for a reliable and secure trading platform, as well as those interested in copying successful trading strategies.

Etoro is a global trading platform that offers a wide range of trading instruments such as currencies, cryptos and CFDs. With over 45+ currencies, 55+ cryptos and 2815+ CFDs, traders have a variety of markets to choose from. Etoro does not allow the use of EAs or robots but does offer the additional facility of Copy Trading. This allows traders to copy other traders in real-time and make informed trading decisions.

Our Ratings

Pros:

• User-friendly and intuitive platform. 
• Comprehensive educational resources. 
• Low fees and spreads. 
• Social trading options for investors. 
• Regulated and secure broker. 

Cons:

• Limited range of tradable instruments. 
• No automated trading or scalping allowed.

XM.Com – For Flexible trading

XM is a regulated broker established in 2009 and based in Cyprus. It offers flexible trading on the popular MT4 and MT5 platforms. XM provides various services and products from currency trading to CFDs and more, all with competitive spreads and no hidden fees. The broker is committed to providing a secure and reliable trading environment to its customers, together with excellent customer support.

XM is an online broker offering its clients a wide range of trading instruments including 55+ currencies, 30+ cryptos and 940+ CFDs. It is a great choice for traders who want to use EAs or robots, scalping and news trading, as all of these are allowed. In addition, clients of XM can benefit from the MAM account feature, but unfortunately, PAMM accounts and Zulutrade social trading are not available.

Our Ratings

Pros:

• Low spreads and competitive trading fees 
• Variety of trading platforms and instruments 
• Variety of account types for different levels of traders 
• Reliable customer service 
• Regulated by CySEC and FCA 

Cons:

• Limited number of educational resources 
• Not available in US and other countries

Exness.com — For Instant withdrawal

Exness is a regulated broker based in Seychelles, established in 2008. It is best known for its instant withdrawal feature and offers its clients access to the popular MetaTrader4 and MetaTrader5 trading platforms. Exness offers a range of features and services to its clients, such as multiple account types, low spreads and leverage, and operational support. Its range of features, and its ability to provide a secure and reliable trading environment, make Exness a great choice for traders.

Exness is an online broker offering a range of trading instruments such as 95+ currencies, 5+ cryptos, and 130+ CFDs. EAs and robots trading are allowed, as well as scalping and news trading. Furthermore, it offers a copy trading facility which allows clients to copy the trades of experienced traders. With such a range of trading instruments and facilities, Exness is a great broker for all levels of traders.

Pros:

• Low trading fees and competitive spreads 
• Highly regulated – Exness is regulated by multiple international financial authorities 
• Wide range of trading products – Exness offers more than 1000 instruments 
• Advanced trading platforms – including MetaTrader 4 and 5 
• Excellent customer support – 24/7 customer service available in multiple languages 

Cons:

• Limited payment methods – Exness only supports bank transfers and credit/debit cards 
• Limited research and educational resources – Exness does not offer many resources to help traders learn and improve their trading skills

Oanda.com — Most Trusted

Oanda is one of the most trusted brokers in the industry, having been established in 1996 and regulated in the United States. They offer a range of trading platforms for traders of all levels, including MT4, MT5, WebTrader, NinjaTrader, MotiveWave, MultiCharts and TradingView. With their range of platforms and reliable customer service, Oanda is a great choice for traders of all levels.

Oanda is a broker that provides a wide range of trading instruments, including 70+ currencies, 4 cryptos and 50+ CFDs. It offers a number of features for traders, such as allowing scalping, news trading and the use of EAs and robots. Additionally, Oanda also provides ZuluTrade, which is an additional facility for traders to take advantage of.

Our Ratings

Pros

• Competitive spreads – Oanda offers some of the lowest spreads available in the Forex market. 
• Advanced trading platform – Oanda offers a powerful and advanced trading platform which includes a range of helpful trading tools. 
• Wide range of currency pairs – Oanda offers a wide range of currency pairs and other instruments, including major, minor, and exotic pairs. 
• Multiple account types – Oanda offers a range of different account types to suit different trading styles and budgets. 
• Regulatory oversight – Oanda is regulated by multiple authorities and is committed to providing a safe and secure trading environment. 

Cons

• Limited leverage – Oanda offers relatively low leverage compared to other brokers, which may limit the potential profits of traders. 
• Fees for inactive accounts – Oanda charges fees for accounts that are inactive for a certain period of time.

FBS.com —- For High Leverage

FBS is a regulated broker based in Belize and established in 2009. They offer a variety of trading platforms to suit all types of traders, including the popular MetaTrader 4 and 5, as well as their own platform, FBS Trader. The broker is best known for its high leverage, which can reach up to 1:3000. FBS also offers a wide range of trading instruments, including Forex, CFDs, commodities and indices, and also provides reliable customer service and a range of educational resources for new and experienced traders.

FBS is a well-known broker that offers a wide range of trading instruments. It provides traders with access to more than 35 currency pairs, as well as 3 CFDs. It allows traders to use a variety of trading strategies, such as scalping and news trading, and also permits the use of EAs and robots. FBS also offers tight spreads, fast order execution, and reliable customer service. All these features make FBS an ideal choice for both experienced and novice traders.

Our Ratings

Pros:

• Secure and reliable trading environment. 
• Low minimum deposit requirement. 
• Wide selection of trading instruments. 
• Excellent customer service. 
• Advanced trading platform. 

Cons:

• Limited selection of CFD instruments. 
• High spreads on some trading instruments.

Hotforex.com — For Trading instruments

Hotforex is a regulated broker established in 2010, based in Saint Vincent and Grenadines. It offers a variety of trading instruments and is well known for its trading platforms, MT4 and MT5. The broker is renowned for its competitive spreads, fast executions and advanced charting packages. It also offers a wide range of trading products, including Forex, Commodities, Indices, Shares, Cryptocurrencies, and more. Hotforex is committed to providing its clients with the best trading experience possible.

Hotforex is an online broker offering a wide range of trading instruments, including 45+ currencies, 5+ cryptos, and 5+ CFDs. It allows traders to use EAs and robots, as well as scalping and news trading for maximum profitability. Hotforex also allows traders to open MAM accounts for enhanced trading capabilities. With its low fees and tight spreads, Hotforex is a great option for traders looking to maximize their profits.

Our Ratings

Pros:

• Offer a wide range of trading instruments including Forex, CFDs, indices, commodities, and cryptocurrencies. 
• Offer competitive spreads and leverage up to 1:1000. 
• Provide a range of account types tailored to different trading strategies. 
• Offer a variety of trading platforms including MT4, MT5, and WebTrader. 
• Provide extensive educational material including webinars and trading tutorials. 

Cons:

• High minimum deposit requirement. 
• Limited payment and withdrawal methods are available.

Eightcap.com — Best for Trading Support

Eightcap is a regulated broker based in Australia and was established in 2009. It is best known for its first-class trading support and offers popular trading platforms such as MT4, MT5 and TradingView. Eightcap provides a secure and reliable trading environment for all types of traders. Its user-friendly interface allows for seamless navigation across multiple markets and instruments. Additionally, Eightcap offers a wide range of market research and educational tools to help traders make informed decisions. With its advanced trading tools and customer service team, Eightcap is a great choice for those looking to start their trading journey.

Eightcap is a great broker for traders looking for a wide range of instruments to trade. It offers 45+ currencies, 300+ cryptos, and 800+ CFDs. It also allows traders to use EAs and robots and permits scalping. Furthermore, it offers additional facilities such as PAMM and MAM accounts which can be beneficial to traders.

Our Ratings

Pros:

• Low minimum deposit requirement of $100 
• Access to a variety of trading platforms to suit different styles of traders 
• A variety of trading instruments including forex, indices, commodities and cryptocurrencies 
• No minimum trade sizes and competitive spreads 
• Highly secure with data protection and encryption protocols 

Cons:

• Limited customer support and no live chat 
• Limited educational materials and resources for new traders

FXTM.com — Best For Trading Conditions

FXTM is a regulated broker based in Mauritius that was established in 2011. It is well known for its excellent trading conditions, making it a popular choice among traders. The broker offers access to the MT4, MT5, and WebTrader platforms, providing traders with a wide range of options when it comes to their trading. With its excellent trading conditions, competitive fees, and reliable customer service, FXTM is an excellent choice for traders of all levels.

FXTM is an online broker offering a wide range of trading instruments, including 55+ currencies, 4+ cryptos, and 190+ CFDs. They also provide facilities such as a MAM Account and allow traders to use EAs and robots, scalp, and news trade. With their competitive spreads, high leverage and reliable services, FXTM is an excellent choice for traders looking to make the most out of their trading.

Our Ratings

Pros:

• Regulated by the FCA, CySEC and IFSC 
• Low minimum deposit requirements 
• Wide range of tradable assets 
• Variety of account options 
• Comprehensive educational resources 

Cons:

• Limited customer support 
• High spreads and commissions

What is a Forex Broker? 

A Forex broker is a specialized financial intermediary that facilitates currency trading for individuals and businesses in the global foreign exchange market. Serving as a crucial link between traders and the dynamic realm of forex, these brokers provide online platforms for buying and selling various currencies. Opting for a reputable and regulated Forex broker is paramount to ensuring a secure and efficient trading experience, complemented by essential tools and analysis for navigating the complexities of currency transactions within the intricate forex landscape.

Get More Details : The Ins and Outs of ‘What is a Forex Broker?

What are the Most Trusted Forex Brokers in Switzerland?

According to our research and broker ratings, Pepperstone, IC Markets, XM, and FBS emerge as the most reliable forex brokers for trading in Switzerland. These brokers are highly regulated by top regulators including FCA, ASIC, CySEC, BaFIN, DFSA, SCB and so on.  They also offer segregated client fund accounts with tire 1 banks. for example. Here are our trust score for the following brokers 

• Pepperstone : 9.4 
• IC Markets    : 9.3
• XM                : 9.3 
• FBS              : 9

What is the No 1 Forex Brokers in Switzerland

Based on our in-depth research and ratings, Pepperstone is the number 1 forex broker in Switzerland. The broker is not only popular in Switzerland but also globally. Additionally, the broker is regulated under top-tier regulators worldwide, including FCA, ASIC, CySEC, and others. Pepperstone secures a score of 9.4 out of 10, the highest in our research

What are the Best MT4 Forex Brokers in Switzerland ?

Based on our in-depth research and test results, the best MT4 forex brokers in Switzerland are:

• IC Markets
• Pepperstone
• Eightcap
• Tickmill
• XM
• FBS

They offer thousands of trading instruments, including forex, crypto CFDs, stock CFDs, and indices.

What are the Best MT5 Forex Brokers in Switzerland?

MT5 a multi-asset trading platform by MetaQuotes. It is second most popular forex trading platform in the world. Most of the forex brokers in Switzerland offer MT5 Trading Platforms. According to our brokers research and ratings, the best MT5 Forex Brokers in the UK are 

• Pepperstone
• IC Markets 
• FBS 

MT5 perform allows traders to perform  technical analysis and trading operations in the Forex market

What are the Best ECN Forex Brokers in Switzerland ?

Our findings and broker ratings show that the best ECN Forex brokers in Switzerland are 

•  Pepperstone 
•  IC Markets 
•  XM
•  FXTM 
•  Hotforex 

These brokers offer low trading fees. They also offer seamless deposit and withdrawal processing. Among the brokers, Pepperstone we ranked Pepperstone as No 1 forex brokers in the world

Which Forex Brokers are Best for Beginners in Switzerland ?

From our research, analysis, testing, and experience; XM, hotforex, FBS, and Exness are the best brokers for beginners in Switzerland. They all provide comprehensive training resources for newbies and also demo accounts for practice. When the newbies are ready for live trading, these brokers offer micro accounts which they can use to start experimenting with live trades at very little risk.

Which Forex Brokers Offer Copy Trading Platforms in Switzerland ?

The best forex brokers offering copy trading platforms in Switzerland include eToro, Pepperstone, IC Markets, and FBS, among others. Among these, eToro is renowned for its social copy trading. Moreover, you can use almost all forex brokers for copy trading purposes if they allow EA trading

Which Forex Brokers offer High Leverage in Switzerland ?

FBS is one of the highest-leverage forex brokers that offers services worldwide, including in Switzerland. FBS provides a 1:3000 leverage, allowing for up to $3000 in trading capital for every $1 risked. However, the leverage in the EU and the USA is fixed. In the EU and Australia, retail traders can take up to a 1:30 leverage, while US regulators allow a maximum 1:50 leverage for retail forex traders. Many brokers have multiple entities for traders in different countries. Here is a list of the highest-leverage forex brokers:

FBS.com : 1:3000

Exness.com : 1:2000

Hotforex : 1:1000

How Can I Trade Forex in Switzerland? 

Educate yourself:

Before you start trading forex, it’s important to educate yourself on the basics of the market. Learn about the currency pairs, trading strategies, risk management, and technical analysis.

Choose a reputable forex broker:

Look for a forex broker that is regulated by a reputable financial authority such as the Financial Services Regulatory Authority (FSRA) in Switzerland. Check their trading conditions, fees, customer support, and trading platforms to make an informed decision.

Open a trading account:

Once you’ve chosen a broker, you’ll need to open a trading account. Fill out the application form, provide the required documents for verification, and fund your account with an amount you’re comfortable with.

Choose a trading platform:

Most forex brokers offer trading platforms such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Choose a platform that you’re comfortable using and that has the features you need to trade effectively.

Analyze the market:

Use technical analysis tools such as charts, indicators, and oscillators to analyze the market and identify potential trading opportunities.

Place your trade:

Once you’ve identified a trading opportunity, place your trade using the trading platform. Choose the currency pair you want to trade, set your stop loss take profit levels, and enter the trade.

Monitor your trade:

Keep an eye on your trade, adjust your stop loss and take profit levels if necessary. You can also use trailing stops to lock in profits as the market moves in your favor.

Close your trade:

When you’re ready to close your trade, use the trading platform to do so. You can either take your profit or cut your losses depending on how the trade has performed.

Review your trades:

 After each trade, take the time to review your performance. Look at what you did well and what you could improve on, and use this information to refine your trading strategy.

Different Types of Forex Brokers in Switzerland?

Dealing Desk:

Market Maker: A market maker forex broker is a type of broker that creates a market for their clients’ trades by taking the other side of their trades. They offer fixed spreads and can be suitable for beginner traders who are starting in the forex market.

No Dealing Desk:

ECN:

An Electronic Communication Network (ECN) forex broker is a type of broker that provides direct access to the interbank market. They charge a commission on trades and offer variable spreads that can be as low as 0 pips. ECN brokers are suitable for experienced traders who need fast execution and deep liquidity.

STP:

A Straight Through Processing (STP) forex broker is a type of broker that passes their clients’ trades directly to liquidity providers without any intervention. They offer variable spreads and can be suitable for traders who want to trade in a transparent and fair environment.

Types of Trading Platforms in Switzerland?

Online Trading Platforms:

Online trading platforms allow traders to buy and sell various financial instruments such as stocks, currencies, commodities, and indices via the internet. These platforms are often provided by brokers who act as intermediaries between traders and the financial markets. Some popular online trading platforms used in Switzerland include MetaTrader, WebTrader, and cTrader.

Mobile Trading Apps:

With the widespread use of smartphones, many brokers in Switzerland offer mobile trading apps that allow traders to access the financial markets on the go. These apps provide the same functionality as online trading platforms and allow traders to monitor their accounts, execute trades, and access market data in real-time.

Social Trading Platforms:

Social trading platforms allow traders to follow and copy the trades of successful traders. This type of platform is popular among beginner traders who want to learn from more experienced traders. Some popular social trading platforms available in Switzerland include eToro and ZuluTrade.

Automated Trading Platforms:

Automated trading platforms use algorithms to execute trades automatically based on predefined rules. These platforms are popular among traders who want to take emotion out of the trading process and rely on the power of technology. Some popular automated trading platforms used in Switzerland include MetaTrader and Pro Real Time.

How to Choose the Best Forex Brokers in Switzerland?

Choosing the best forex broker in Switzerland is an important decision, as it can have a significant impact on your trading experience and success. Here are some key factors to consider when making your choice:

Regulation:

Ensure that the broker is regulated by a reputable financial authority, such as the Switzerland Financial Services Authority (SFSA). This will ensure that your funds are protected and that the broker operates transparently and fairly.

Trading Platform:

Look for a broker that offers a user-friendly and reliable trading platform, with advanced charting tools and analysis features. This will help you make informed trading decisions and stay on top of market movements.

Fees:

Consider the fees charged by the broker, including spread, commission, and overnight charges. Make sure they are competitive and transparent, and that you understand how they will impact your trading profitability.

Customer Service:

Good customer service is essential for forex traders, especially for beginners. Choose a broker that offers 24/7 support through multiple channels, such as live chat, email, and phone, to ensure that you can get help when you need it.

Asset Selection:

Check the range of assets available for trading, including currency pairs, commodities, and indices. Make sure that the broker offers the assets you are interested in trading and that you have access to the markets you want to trade.

Leverage:

Consider the leverage offered by the broker, which allows you to trade with more capital than you have in your account. However, it’s important to understand the risks associated with leverage and only use it when necessary.

Reputation:

Do your research and read online reviews and customer feedback to gain insight into the broker’s reputation. Look for a broker with a strong track record of stability, reliability, and customer satisfaction.

Frequently Asked Question (FAQs)

What is forex trading?

Forex trading is foreign exchange trading, which involves buying and selling different currencies in the hope of making a profit from the fluctuations in their exchange rates.

Is Forex Trading Legal in Switzerland?

It is recommended that you consult with a legal professional or a regulatory authority in Switzerland to confirm the legality of forex trading in the country and the requirements for trading with foreign forex brokers.

What is the role of a forex broker?

A forex broker acts as an intermediary between traders and the forex market, providing traders with access to the market and facilitating their trades.

What should I look for in a forex broker?

When choosing a forex broker in Switzerland, look for a broker that is regulated by a reputable financial authority, offers a user-friendly trading platform, has competitive fees, provides good customer service, offers a wide range of assets, and has a strong reputation.

What are the risks of forex trading?

Forex trading involves significant risk, as currency exchange rates can be volatile and can fluctuate rapidly. It’s important to understand the risks involved and to only trade with capital that you can afford to lose.

How much money do I need to start forex trading?

The amount of money you need to start forex trading will depend on the broker you choose, as some brokers have minimum deposit requirements. It’s also important to remember that trading with leverage can amplify your losses, so it’s advisable to start with a smaller amount and only trade with the amount of capital that you can afford to lose.

Conclusion

Forex trading can be a lucrative opportunity for investors in Switzerland, but it is important to choose the right forex broker to ensure a successful and profitable trading experience. By considering factors such as regulation, trading platform, fees, customer service, asset selection, leverage, and reputation, you can find a forex broker that meets your needs and provides you with the tools and support you need to trade effectively.

Kindly note forex trading involves risk and it’s important to only trade with capital that you can afford to lose. Before you start trading, be sure to educate yourself about the market and develop a sound trading strategy to maximize your chances of success.