Swissquote Sucks Customer Reviews and Feedback

From Everything.Sucks

Swissquote Group Holding SA is a Swiss banking group specialising in the provision of online financial and trading services. The Group's shares have been listed on the SIX Swiss Exchange under the ticker symbol “SQN” since 29 May 2000. The Group's headquarters are located in Gland, Switzerland. The company also has offices in Zurich, Bern, Dubai, Malta, London and Hong Kong. The Group has 722 employees.

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Risk & Control Officer (Former Employee) says

"I joined SQ after the merger of MIG Bank in 2013, SQ can be considered as a good place for teenagers and teachers (Juniors and Directors). Cons: no serious job"

Responsable logistique (Former Employee) says

"Il y avait vraiment une énergie spéciale de partage mais tout change et le management actuel n'est plus en symbiose, les valeurs annoncées deviennent de plus en plus lointaines... Cons: petit salaire et pas de valorisation au final"

Banking Platform Engineer (Former Employee) says

"Entreprise qui grandis rapidement. Certains avantages internes mais pas suffisant pour y rester des années."

Group Communications Manager (Current Employee) says

"start-up environment where it is possible to turn your ideas into action."

legal & compliance (Former Employee) says

"There are almost only quite young people working for SQ. The atmosphere is very laid back for a bank. It's a good place to start your career as you are thrown in the deep end and you get a certain hands-on mentality. Over the long run it's not the place to get expertise though, neither to make a career. Compensations schemes are not competitive and mostly under the market average."

Controller - Controlling & Risk (Former Employee) says

"Interesting but really bad salaries. Most of high managers are really bad prepared."

FX trader (Former Employee) says

"good team, no pressure, but bad salary/trainning possibility"

Nicole Adams says

"My experience here was bad but thanks to myrecoup.com they helped me get back all my money"

sami says

"took 3 days to get a video chat to open account then 7 days later email saying missing documents , all uploaded and in perfect condition tried calling over and over and no response,. each time 10 plus minutes on the phone to get cut off , I can't believe as I am now to banking as was recommended by a friend that this is how a bank that shows so much on there web page.... reality is so they are utterly useless and unhelpful to new clients starting out . all documents perfect no response , if you are looking for anew account I could not recommend and if this is how business is done I am shocked ..."

Sheryl says

"Swissquote is holding my deposit since the 4th of January that it has been confirmed on the ETH blockchain several thousands of times.
I made a deposit with the Transaction id: 217**
on the 4th of January 2021. they didn't released the deposit so 24 hrs later i open the support ticket Issue: 12615**, i am still waiting for a reply.
They send me a message to my inbox Issue 12610** asking for more information about the deposit. i answer to this message on the 6th of January 2021 Issue: 12642** and still no reply.
Their chat support is useless, they cannot answer any question, they phone waiting queue takes forever.
I have no idea what is going on or if i will be able to gain access to my deposit, i have some cash in my account and i am scared of taking it out doing a bank transfer because maybe they will hold it forever like they are doing it with my deposit.
My first problem started when i created the account around October, i was referred by a friend who told me that Swissquote was great, i guess he was wrong, the KYC chat was problematic to connect, then i cannot fund my account using my card because some error, then i wanted to order one of Swissquote credit cards but because the country i am living i am not eligible to have a credit card, and last they hold my money and don't tell me why. They also refer to me as Mr and not as Mrs.
I am posting my story here because Swissquote is not communicating with me, it will be nice if they can reply the ticket and give me an update of what is going on.
I will keep you updated if i was able gain access to my money or they hold it hostage."

Hilal says

"My third review of the company - as my issue is yet to be resolved. I am yet to receive any calls, emails from Swissquote and now I realised that my account has been locked as well and I cant understand why as they dont pick up and answer my calls. I have reached out to the regulatory body to assist on the matter, as it seems this is the only way."

Hilal says

"This is my second review and it's not better than the first one sadly. I reached out to them by their contact form asking them to close my account and payout all of my cash holdings as REQUESTED BY THEIR OWN SUPPORT and then I received an automated email that these type of requests cannot be executed my mail. So why was I asked to do it in the first place? and am I supposed to spell them by account number on the phone they never pick up and which costs an arm and a leg to dial because it seems they think all of their client base lives in Switzerland. Stay away I am yet to receive any details about my funds."

Louis Brignan says

"Website very confusing and the fees are pretty high.
Avoid at all costs (there are so many trading platforms on the market)."

Peter says

"This is the worst broker I have ever used. I can´t even see the shares I own or the cash balances. The charges are huge, ten times what I pay at other brokers. Absolutely awful"

David says

"Another forced migration customer - initial migration frozen due to COVID - fantastic, they had already messed up my ability to login and it took a phone call to Internaxx (still alive and kicking at that point) who fixed it and new what the problem was - it let me use special characters in my password when setting it up, but special characters weren't allowed.

Fast forward a couple of months later and I am now a fully fledged Swissquote customer.

My admin fees are now taken out in Euros, even though I have specified USD. No communication from Swissquote that this was happening or was a new change, and their solution doesn't work either, so I am forever stuck with Eur and then a conversion to USD to pay when charged

Transferring to Swissquote - a shambles - in the Internaxx days, it was easy - change money, send, in account a few days later.

Swissquote - phonecalls from my bank asking for intermediary bank details. What intermediary bank? Google then says other customers have the same problem, look around for details, can find them for their banking side, but not trading, why if this is part of their change are these details not available freely.

Why do they have two different SWIFT codes published - their customer service says it is because some banks require the longer SWIFT code - so why publish 2 in two different locations.

Email swissquote, they blame my bank for not updating, but eventually send me the letter with intermediary bank details on it, which they must know is causing an issue as that was their stock response.

Money is sent and recieved, but a fee is taken by intermediary bank, Swissquote say no fees charged it's not their fault.

Why was something so simple now turned into a clown show?

Sort your house out Swissquote!"

Bindesh Kurani says

"A LEGAL CASE HAS BEEN FILED IN DUBAI AGAINST SWISSQUOTE, ONE OF THE LEADING FOREX BROKERS BASED IN SWITZERLAND.
I MR BINDESH KURANI and my INVESTOR HAVE BEEN DUPED BY SWISSQUOTE EMPLOYEES Mr. CHADDY KIRBAJ AND Mr. ISSA ALJIBRIN ALONG WITH CEO MARC BURKI. A CASE FOR EXTORTION AND AND THREATENING HAS BEEN REGISTERED WITH THE DUBAI POLICE AND INVESTIGATION IS GOING ON.
SWISSQUOTE BANK IS MISLEADING LOCAL INVESTORS IN DUBAI TO OPEN A TRADING ACCOUNT THROUGH HIS COMPANY EMPLOYEES BY HIDING FACTS WITH FALSIFIED COMMITMENTS AND PROMISES. SWISSQUOTE is not giving withdrawal to my client for the FUNDS OF $880000/- WHEN ASKED FOR WITHDRAWAL THEY refused to pay and SENT A STATEMENT FOR ------ BACKDATED INTERST CHARGES AND ===== DAMAGE CHARGES.
I also have a legal proof that his employee taking third party payment which is totally illegal. I have also come across the other investors within UAE who are also cheated by Swiss Quote with same modus operandi and they are in process of filing legal complaints against them"

Do says

"‘Ok’ trading platform but some major improvements needed. Other providers worldwide have muh better services of the platform itsself, equally free of charge. For example:
- ridiculously complex process to take money out of trading account with forms and long waiting times. This should be a ‘click of the button’ type of thing.
- long processing times and cumbersome process to book money in. Again, should be instant with direct link possibility to third party bank account.
- the fact that one can see portfolio details only when flipping phone to landscape is...

Outside of these things, helpful customer service, and fairly simple sign-on process."

Hilal says

"The company has extremely poor and irresponsive customer support, after a number of calls I am yet to be able to contact a support replesentative. Furthermore there are issues with the website - the language keep on changing to German and you are not able to change your password without having to contact CS who never pick up. Dont waste your time."

Andre says

"Issue: 1240141.
My last support took weeks to be answered, so I am creating this complaint. Yesterday I did a review and I'm receiving phone calls from Swissquote. But I don't speak English/Italian/German/French. I would like an answer via e-mail if you have any questions or need to talk to me...please send me an e-mail, I can't talk via telephone, I use a translator to write in English...

I count on your understanding. I have already solved the problem of buying power, I just want to renew my credit."

LJB says

"Instable trading platform that crashes during heavy traffic. Customer service is incompetent and cannot handle complaints. Good prices compared to other Swiss banks."

whp says

"The system doesn't work reliable: Often, the prices are dragging behind, as well as the orderbook and offering volumes. As a Swissquote customer you frequently lose money due to the display of outdated data - you miss opportunities and take opportunities at the wrong moment. This makes the platform unsuited for traders. First, I thought this would be a temporary problem, due to a higher demand after the recent stock market crash. Months after the crash, and after a little bit research, I discovered, that these problems already existed before the corona-crash and thus I don't expect that they will be fixed anytime soon.

Compared with other swiss brokers, the fees are average (depending on the size of your position). Still, it's a full percent you lose for a complete trade with a CHF 10'000 position (buy and sell), no matter if you won or lost. And no matter if their system worked or not. Combined with the losses due to outdated data in the trading system, this sums up to high amounts for just a few trades. Once more this makes Swissquote unsuited for traders. You can buy flat-fee trades which can reduce trading cost if you constantly trade with big positions and if you use all the flat-fee trades within a 12 month period. After the 12 months they simply decay, without any refund.

All in all, like the stock exchange, Swissquote is a lot of gamble."

Dan says

"good service, horrible fees"

User Nyon says

"Need real time data on the whole screen and not 15 minute delayed data.
User interface is not very user friendly nor intuitive.
In owned shares, add the functionality of change in price and not just change in percentage"

Colin Fletcher says

"why, when I want to trade on my iPhone and iPad, do I not find the Ticker symbols that I get on my lap-top ??"

John Rutherford says

"Good trading platform, but i'm not satisfied with the blocks on Crude oil."

Mario Larsson says

"Good Platform,slow service with poor cfd"

Vince says

"Update: To Swissquote - Thanks for the reply. The matter has been resolved.
Regards
Also an ex-Internaxx customer. The only response one receives from Swissquote is an auto response about reply after 2 days and after that just silence......."

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