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 to iFOREX, Swissquote holds a slight edge regarding commissions and fees, although neither ranks particularly high in this category. Swissquote is rated 3.5 out of 5 stars and positioned at #52 out of 62 brokers in the ForexBrokers.com Commissions and Fees category. By contrast, iFOREX garners a 3-star rating and is ranked #60. This puts Swissquote ahead in terms of pricing, but it still lags behind industry leaders with lower trading costs.
Swissquote's varied pricing structure across its different entities is an important consideration. The U.K. branch of Swissquote, offering lower costs and deposit requirements along with four account types, stands out among its Swiss and Luxembourg counterparts. For those who are frequent traders and can commit a minimum deposit of $10,000, the Elite account offers tighter spreads and a $5 charge per round-turn trade, making it a favorable option. Swissquote's Swiss and Luxembourg branches propose different account tiers with minimum deposit requirements and varying spreads, unlike iFOREX, where specific spread data isn't disclosed.
iFOREX, while lower ranked, offers an alternative for traders not focused primarily on minimizing spread costs. Its commission and fee structure is less detailed, which might affect transparency compared to the clearly outlined options at Swissquote. However, for traders concerned primarily with Swissquote's higher spreads, iFOREX could offer potential benefits not explicitly broken down in public data. In summary, Swissquote may be a better choice for those valuing an account with a prestigious Swiss institution, while iFOREX could suit traders less concerned with cost precision.
| 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.
When comparing Swissquote and iFOREX in terms of available investment options, Swissquote stands out with a broader range of offerings. Both brokers provide traders the opportunity to engage in forex trading, either as a CFD or via spot contracts. Swissquote offers investors access to 472 tradeable symbols, including 80 forex pairs, while iFOREX presents a broader selection of 750 tradeable symbols and 88 forex pairs. However, a significant advantage for Swissquote users is the ability to purchase actual exchange-traded securities on both U.S. and international exchanges, allowing direct investment in companies like Apple and Vodafone. This feature is absent with iFOREX, which does not offer access to these traditional stock markets.
Furthermore, Swissquote allows clients to buy actual cryptocurrencies, in addition to crypto derivatives, whereas iFOREX provides only derivative trading on crypto assets. Swissquote also offers copy trading, empowering users to mimic successful trading strategies—a benefit not available to iFOREX clients. Reflecting these comprehensive investment options, Swissquote receives a perfect 5-star rating and ranks 2nd among 62 brokers for Range of Investments on ForexBrokers.com. In contrast, iFOREX holds a 3.5-star rating and ranks 41st in the same category, indicating Swissquote's superior array of investment choices.
| 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 it comes to trading platforms and tools, Swissquote and iFOREX present distinct offerings that cater to different trading needs. Swissquote stands out with its provision of a free virtual demo account, allowing traders to practice without financial risk. Both brokers have developed their own proprietary platforms; however, Swissquote offers a comprehensive experience with a Windows-based desktop download option, as well as popular platforms like MetaTrader 4 and MetaTrader 5. iFOREX, on the other hand, only offers a web-based platform, limiting some traders who prefer desktop downloads. Additionally, Swissquote supports copy trading, which is not available with iFOREX.
In terms of trading chart tools, Swissquote offers an impressive 75 drawing tools compared to iFOREX's 25, providing more flexibility in technical analysis. Both platforms allow trading directly from charts, adding ease to executing trades. Swissquote also excels with more detailed watch lists, offering 11 fields compared to iFOREX’s nine. Moreover, Swissquote's advanced offerings and platform versatility have earned it a 4.5-star rating and a high rank of #12 out of 62 brokers for trading platforms and tools by ForexBrokers.com. In contrast, iFOREX lags with a 4-star rating and a ranking of #54, indicating a narrower range of tools and lesser user satisfaction.
| 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, both Swissquote and iFOREX provide iPhone and Android applications. However, Swissquote takes the lead in several key areas. Users of Swissquote's app can receive stock or forex price alerts, a feature that is notably absent in iFOREX's offering. While neither platform supports watchlist symbol syncing with their respective online accounts, Swissquote stands out by allowing users to access up to 30 technical studies for charting. This capability is not available in the iFOREX app. Swissquote also offers the ability to draw trendlines on charts and view multiple time frames, features that iFOREX does not provide in its mobile experience. Additionally, Swissquote's app automatically saves chart drawings and offers watchlist creation with real-time quotes, adding to its user-friendly appeal.
In terms of user ratings and industry rankings, Swissquote has a slight edge. It is rated 4.5 stars out of five for its mobile trading app, while iFOREX receives a 4-star rating. Furthermore, Swissquote is ranked #11 out of 62 brokers by ForexBrokers.com in the Mobile Trading Apps category, significantly higher than iFOREX, which is ranked #55. Overall, Swissquote offers a more feature-rich and highly-rated mobile trading experience compared to iFOREX, making it a more appealing choice for traders looking for advanced mobile functionalities.
| 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 it comes to market research features, both Swissquote and iFOREX offer daily market commentary and an economic calendar to keep traders informed of global news events. Swissquote stands out with forex news from top-tier sources like Bloomberg and Reuters, offering trusted information to support trading decisions. Additionally, Swissquote provides tools from Autochartist for technical and fundamental analysis, boosting its offer with advanced research capabilities. On the other hand, while iFOREX lacks these particular features, it does provide tools from Trading Central and a sentiment-based trading tool, which show the ratio of long or short positions in various assets, helping traders gauge market sentiment effectively.
In terms of ratings and rankings in market research, Swissquote is rated higher with 4 stars compared to iFOREX’s 3.5-star rating. Swissquote also ranks significantly higher at #16 out of 62 brokers, while iFOREX sits at #48 according to ForexBrokers.com. For traders prioritizing comprehensive research options and reliable forex news, Swissquote may offer the more appealing package. However, iFOREX provides unique tools that could be valuable for traders interested in sentiment analysis and Trading Central analytics.
| 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.
When comparing Swissquote to iFOREX in terms of educational resources available for beginners, Swissquote stands out as a more comprehensive option. Swissquote offers an array of educational materials focusing on forex and CFDs, including more than ten articles, videos, and archived webinars. In addition, they host monthly webinars, providing interactive learning opportunities. Beginners can also access a wide selection of educational videos tailored for their needs and an extensive investor dictionary with definitions for over 50 investing terms. Furthermore, Swissquote provides a searchable archive of past client webinars to support ongoing learning.
In contrast, iFOREX provides educational resources but lacks the depth offered by Swissquote. Although they do offer more than ten beginner videos, their materials do not extend into advanced trading topics. Additionally, iFOREX does not conduct regular webinars or maintain an archive of recorded sessions. The absence of an investor dictionary further limits their educational support. Consequently, Swissquote receives a higher education rating of 4 stars compared to iFOREX's 3.5 stars, reflected in their respective rankings of 21st and 53rd out of 62 brokers according to ForexBrokers.com.
| 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 62 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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