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Head to head

Swissquote vs XS.com

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. XS.com is licensed by CySEC in the European Union, ASIC in Australia and Labuan FSA in Malaysia (Labuan), 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.

Minimum deposits start at $1,000 at Swissquote (the Prime account needs $50,000) and $0 at XS.com. Only XS.com offers negative balance protection and segregated client money.

Facts last checked: Swissquote on 20 October 2026, XS.com on 20 October 2026.

Swissquote profileXS.com 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
XS.comOffshore registration onlyRead the profile
Comparing
SwissquotePrime account · Switzerland
XS.comInternational

Overview

Founded
Not yet checked
Not yet checked
Headquarters
Switzerland
Eden Island, Seychelles (group companies in Cyprus, Australia, Malaysia and elsewhere)
Official websites
  • swissquote.com
  • swissquote.ch
  • swissquote.co.uk
  • swissquote.eu
  • swissquote.cy
  • xs.com
  • xsmarkets.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
Swissquote Bank Ltd (Swissquote Bank SA)
XS Ltd
Regulator
FINMA
Switzerland
FSA Seychelles
International
Regulation level
Strictly regulated
Offshore registration only
Licence number
Bank licence
Check the register
SD089 (Securities Dealer)
Check the register
Clients this company serves
Swiss residents and international clients not served by a local Swissquote company
Clients who open an account through xs.com
All licences held
  • FINMA (Switzerland)
  • FCA (United Kingdom)
  • CySEC (European Union)
  • SFC (Hong Kong)
  • DFSA (Dubai (DIFC), UAE)
  • FSA Seychelles (International)
  • CySEC (European Union)
  • ASIC (Australia)
  • Labuan FSA (Malaysia (Labuan))
Segregated client money
No
Yes
Negative balance protection
No
Yes
Compensation scheme
Swiss depositor protection up to CHF 100,000 (Swissquote Bank); FSCS up to £85,000 (UK); ICF up to €20,000 (Cyprus)
None for clients of XS Ltd (Seychelles); EU clients of XS Markets Ltd are covered by Cyprus's Investor Compensation Fund

Costs

Your monthly cost
$120$12 per lot × 10 lots
No accounts listed
Cost per lot (EUR/USD)
$12
No accounts listed
Spread from
1.1 pips
No accounts listed
Typical EUR/USD spread
1.2 pips
No accounts listed
Commission per lot (round turn)
None
No accounts listed
Typical GBP/USD spread
1.6 pips
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
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
Up to 1:2000 (XS Ltd, dynamic); 1:30 on major pairs for EU retail clients
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)
Not yet checked
Margin call level
100% (maintenance margin)
40%
Stop-out level
30%
20%

Account

Minimum deposit (this account)
$50,000
No accounts listed
Base currencies
Not yet checked
No accounts listed
Execution
Spread only, minimum trade 1 lot
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • CFXD
  • TradingView
  • FIX API
  • MetaTrader 4
  • MetaTrader 5
  • XS Trading App
Markets
About 130 currency pairs, metals and CFDs on indices, commodities and bonds
CFDs on forex, metals, energies, indices, cryptocurrencies, futures and shares
Demo account
Yes
Yes
Copy trading
Not yet checked
Yes
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 transfer
  • Visa and Mastercard
  • Skrill
  • Neteller
Withdrawal fee
Not yet checked
No XS fee; a fee of up to 3% can apply where there was no trading or abusive trading
Inactivity fee
10 units of the account currency a month after 6 months without activity
Not yet checked

Support

Customer support
Not yet checked
Email support@xs.com and phone +248 432 3314

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
  • Group companies licensed by CySEC (412/22), ASIC (374409) and Labuan FSA, all checked on the regulators' registers
  • Negative balance protection and segregated client accounts are in the XS Ltd client agreement
  • No minimum deposit on Standard, Cent and Micro accounts, and published average EUR/USD spreads for each account
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.
  • Clients of xs.com join XS Ltd in Seychelles, an offshore licence with leverage up to 1:2000 and no compensation scheme
  • The ASIC licence covers wholesale clients only, and the CySEC company serves the EU through a different website
  • Says group companies hold licences from the FSCA (FSP 53199), FSC Mauritius (GB25204786), the UAE Capital Market Authority (20200000339) and Kuwait (513918); we could not confirm these on the regulators' registers on 2026-10-20 (FSCA and FSC sites unreachable, UAE and Kuwait not checked).

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.
  • XS.com: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved.

Open this comparison in the full tool to share a link with your own accounts and companies chosen.

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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