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 emerged in 1996 as players in the online brokerage scene, but they differ significantly in their standings today. Swissquote is not only a publicly traded company listed on a stock exchange but also a full-fledged bank. With an impressive ForexBrokers.com Trust Score of 99, it holds 5 highly trusted Tier-1 licenses and an additional Tier-2 license. This positions Swissquote as a highly reliable option for online trading activities.
iFOREX, on the other hand, is a privately-held company that is not listed on a stock exchange and does not operate as a bank. It has a ForexBrokers.com Trust Score of 75, placing it in the average risk category. The company possesses one highly trusted Tier-1 license but holds no Tier-2 licenses. Investors looking for a broker should note these distinctions and consider how they align with their trading priorities and risk tolerance.
| Feature |
Swissquote
|
iFOREX
|
|---|---|---|
| Year Founded | 1996 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 1 | 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 comparing Swissquote and iFOREX in terms of their trading platforms and tools, Swissquote stands out with its array of offerings. Swissquote provides users with a simulated trading environment through a virtual demo account, allowing traders to practice without financial risk. They have developed their own proprietary trading platform, which can be accessed via a Windows-based desktop application and a web-based browser platform, ensuring flexibility across devices. Traders can leverage the popular MetaTrader 4 and MetaTrader 5 platforms, known for their advanced trading features. Swissquote supports copy trading, making it easier for traders to mimic the strategies of successful investors. With 11 columns available for watch lists, 75 charting drawing tools, and the ability to trade directly from stock charts, Swissquote has been rated 4.5 stars by users for its trading platforms and tools and is ranked 11th out of 62 brokers by ForexBrokers.com.
On the other hand, iFOREX's trading tools offer a different experience. While it features a proprietary platform accessible through a web-based interface, it lacks a Windows-based desktop download option and does not offer MetaTrader 4 or MetaTrader 5. iFOREX does not provide a free virtual demo account for simulated trading, which may be a limitation for beginners seeking practice before committing real funds. The broker also doesn't support copy trading, but it does allow trading directly from stock charts. iFOREX offers 25 drawing tools for charting and provides watch lists with nine columns. It has been awarded a 4-star rating for its trading platforms and tools and is ranked 54th by ForexBrokers.com. Overall, both brokers offer unique features catering to different trader preferences, but Swissquote may be more appealing for those seeking comprehensive tools and flexibility in their trading experience.
| 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.
Both Swissquote and iFOREX offer mobile apps for iPhone and Android users, making trading accessible on the go. However, Swissquote's app stands out with an array of features that enhance the trading experience. Swissquote provides stock or forex price alerts and supports creating watchlists with real-time quotes, features that iFOREX does not offer. Additionally, Swissquote allows users to explore a variety of technical studies, with 30 options available for chart analysis, while iFOREX does not specify such offerings. The ability to draw trendlines and view multiple time frames on charts is another advantage with Swissquote's app, features that iFOREX users lack access to.
While both platforms do not support the syncing of watchlist symbols between the mobile app and online accounts, Swissquote further excels by auto-saving chart drawings. With an impressive rating of 4.5 stars compared to iFOREX's 4 stars, Swissquote's app is highly regarded in the mobile trading arena. Ranked #10 out of 62 brokers by ForexBrokers.com for its mobile trading apps, Swissquote demonstrates significant promise, whereas iFOREX holds a lower position at #55. For those looking for a comprehensive and feature-rich mobile trading experience, Swissquote may be the preferred choice over iFOREX.
| 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 | 1 | 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) | No | 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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