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Head to head

Swissquote vs ThinkMarkets

Swissquote is licensed by FINMA in Switzerland; FCA in the United Kingdom; CySEC in the European Union; SFC in Hong Kong and DFSA in Dubai (DIFC), UAE. ThinkMarkets is licensed by FCA in the United Kingdom; CySEC in the European Union; ASIC in Australia; DFSA in Dubai (DIFC), UAE and FSCA in South Africa, and also has an offshore registration. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

On its cheapest account per lot, Swissquote costs about $12 per standard lot on EUR/USD (Prime account: 1.2 pips, no commission); ThinkMarkets costs about $11 (Standard account: 1.1 pips, no commission). On these typical figures ThinkMarkets is $1 cheaper per lot, or $10 a month at 10 lots. Swap and other fees are extra.

Minimum deposits start at $1,000 at Swissquote (the Prime account needs $50,000) and $10 at ThinkMarkets (the Standard account needs $50). Neither offers negative balance protection. Only ThinkMarkets offers segregated client money.

Facts last checked: Swissquote on 20 October 2026, ThinkMarkets on 20 October 2026.

Swissquote profileThinkMarkets profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
SwissquoteStrictly regulatedRead the profile
ThinkMarketsStrictly regulatedRead the profile
Comparing
SwissquotePrime account · Switzerland
ThinkMarketsStandard account · United Kingdom

Overview

Founded
Not yet checked
2010
Headquarters
Switzerland
Not yet checked
Official websites
  • swissquote.com
  • swissquote.ch
  • swissquote.co.uk
  • swissquote.eu
  • swissquote.cy
  • thinkmarkets.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
Swissquote Bank Ltd (Swissquote Bank SA)
TF Global Markets (UK) Limited
Regulator
FINMA
Switzerland
FCA
United Kingdom
Regulation level
Strictly regulated
Strictly regulated
Licence number
Bank licence
Check the register
629628
Check the register
Clients this company serves
Swiss residents and international clients not served by a local Swissquote company
UK residents
All licences held
  • FINMA (Switzerland)
  • FCA (United Kingdom)
  • CySEC (European Union)
  • SFC (Hong Kong)
  • DFSA (Dubai (DIFC), UAE)
  • FCA (United Kingdom)
  • CySEC (European Union)
  • ASIC (Australia)
  • DFSA (Dubai (DIFC), UAE)
  • FSCA (South Africa)
  • FSA Seychelles (Seychelles)
Segregated client money
No
Yes
Negative balance protection
No
No
Compensation scheme
Swiss depositor protection up to CHF 100,000 (Swissquote Bank); FSCS up to £85,000 (UK); ICF up to €20,000 (Cyprus)
FSCS up to £85,000 (UK); ICF up to €20,000 (Cyprus); none for the Seychelles company

Costs

Your monthly cost
$120$12 per lot × 10 lots
$110$11 per lot × 10 lots
Cost per lot (EUR/USD)
$12
$11
Spread from
1.1 pips
0.4 pips
Typical EUR/USD spread
1.2 pips
1.1 pips
Commission per lot (round turn)
None
None
Typical GBP/USD spread
1.6 pips
1.3 pips
Typical USD/JPY spread
Not yet checked
1.4 pips
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Not yet checked
Yes

Leverage and margin

Maximum retail leverage
1:30 on major pairs (UK, EU); 1:100 standard at Swissquote Bank
1:30 on major pairs (UK, EU, Australia); up to 500:1 (2500:1 on ThinkTrader) at the Seychelles company
Retail leverage by asset class
  • Major currency pairs (UK: 1:30
  • EUR/USD and other major pairs (Swissquote Bank): 1:100 (1% margin)
  • Gold (Swissquote Bank): 1:50 (2% margin)
  • Major currency pairs (UK: 1:30
  • Currency pairs: up to 500:1
  • ThinkTrader account (Seychelles company): up to 2500:1
Margin call level
100% (maintenance margin)
Not yet checked
Stop-out level
30%
50% (forced liquidation level)

Account

Minimum deposit (this account)
$50,000
$50
Base currencies
Not yet checked
USD, USDt, AUD, GBP, EUR, SGD, CHF
Execution
Spread only, minimum trade 1 lot
Spread only, no commission (MT4, MT5)

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • CFXD
  • TradingView
  • FIX API
  • ThinkTrader
  • MetaTrader 4
  • MetaTrader 5
  • TradingView
Markets
About 130 currency pairs, metals and CFDs on indices, commodities and bonds
Forex, commodities, indices, crypto, stocks, ETFs and futures CFDs (up to 4,000 instruments on ThinkTrader)
Demo account
Yes
Yes
Copy trading
Not yet checked
Not yet checked
Expert advisors (automated trading)
Yes
Yes
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Bank transfer
  • Bank wire
  • Visa
  • Mastercard
  • Apple Pay
  • Google Pay
  • Neteller
  • Crypto
Withdrawal fee
Not yet checked
No fee on any funding method (international site)
Inactivity fee
10 units of the account currency a month after 6 months without activity
Not yet checked

Support

Customer support
Not yet checked
Not yet checked

Our notes

Strengths
  • Forex accounts held with a Swiss bank supervised by FINMA, with Swiss depositor protection up to CHF 100,000
  • Subsidiaries licensed by the FCA, CySEC and Hong Kong's SFC
  • Spread-only pricing with no commission on forex, and live spreads shown per account on its website
  • Licensed by the FCA, CySEC and ASIC, with client money in segregated accounts
  • Publishes target (typical) spreads for the Standard account, such as 1.1 pips on EUR/USD
  • No deposit or withdrawal fees on the international site's funding methods
Watch out for
  • High entry level: $1,000 for Standard, $10,000 for Premium and $50,000 for Prime.
  • At Swissquote Bank, Swissquote warns that losses are in theory unlimited and you may have to pay in more if your balance falls below margin
  • Inactivity fee of 10 a month in the account currency after only 6 months
  • Says Swissquote South Africa (Pty) Ltd holds FSCA licence 43908 (advice and intermediary services); we could not confirm it on the FSCA register on 2026-10-20.
  • International clients join TF Global Markets Int Limited in the Seychelles (offshore tier), where leverage goes up to 2500:1 on ThinkTrader and losses can exceed deposits
  • ThinkMarkets also says it is licensed by CIMA, an FSC, an FMA and (on its South African company) FSCA FSP 49835, without naming every company; we could not confirm these on 2026-10-20. Its FSCA OTC derivative provider approval is confirmed.
  • The ThinkZero minimum deposit is shown as $100 on the account types page and $500 on the ThinkZero page; ask before you fund.

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • Swissquote: Trading leveraged products on the Forex platform, such as foreign exchange, spot precious metals and Contracts for Difference (CFDs), involves significant risk of loss due to the leverage and may not be suitable for all investors. Prior to opening an account with Swissquote, consider your level of experience, investment objectives, assets, income and risk appetite. Losses are in theory unlimited and you may be required to make additional payments if your account balance falls below the required margin level and therefore you should not speculate, invest or hedge with capital you cannot afford to lose, that is borrowed or urgently needed or necessary for personal or family subsistence. Over the past 12 months, 68.22% of retail investors have either lost money when trading CFDs, experienced a total loss of their margin at the closing of their position or ended up with a negative balance after closing their position.
  • ThinkMarkets: Derivative products are leveraged products and can result in losses that exceed initial deposits. Please ensure you fully understand the risks and take care to manage your exposure and seek independent advice if necessary.

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Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

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