Overall SwissDirekt is a trustworthy and high-risk broker with an overall rating of 2 out of 10. SwissDirekt is Self-regulated and regulation through the Federal Department of Finance and offers leverage up to 1:100.
SwissDirekt at a Glance
| 🔎 Broker's Name | SwissDirekt |
| 📍 Headquartered | Switzerland |
| 📅 Year Founded | 2003 |
| ⚖️ Regulating Authorities | Self-regulated and regulation through Federal Department of Finance |
| 🌐 Countries not accepted for trade | This is not indicated |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | 1:100 |
| 💰 Minimum Deposit | Not provided |
| 💳 Deposit Options | · Bank Wire Transfer · Credit/Debit Cards |
| 💳 Withdrawal Options | · Bank Wire Transfer · Credit/Debit Cards |
| 💻 Platform Types | SwissDirekt proprietary platform |
| 📱 OS Compatibility | Web browsers, mobile devices |
| 📈 Tradable assets offered | Forex, CFDs |
| 👨💼 Languages supported on Website | English and German |
| 👥 Customer Support Languages | English and German |
| 📆 Customer Service Hours | Not indicated – generally accepted that these hours will correlate with that of the Forex Markets which operate 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Min Deposit
USD 0
Regulators
Not Regulated
Trading Platform
Proprietary Platforms
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
SwissDirekt Review – 20 key points quick overview:
SwissDirekt at a Glance- SwissDirekt Review – 20 key points quick overview:
- SwissDirekt Overview
- SwissDirekt Safety or Security
- SwissDirekt Leverage
- SwissDirekt Accounts
- SwissDirekt Market Instruments
- SwissDirekt Fees
- SwissDirekt Deposit and Withdrawal
- SwissDirekt Trading Platforms
- How to open a SwissDirekt account step by step
- SwissDirekt Customer Support
- SwissDirekt Education
- SwissDirekt Research
- SwissDirekt Awards
- SwissDirekt vs Etoro vs XM – Comparison Table
- SwissDirekt Pro and Cons
- Conclusion
- Disclaimer
- Frequently Asked Questions
SwissDirekt Overview
According to research in South Africa, SwissDirekt is an independent financial institution that was established in 2003 and is headquartered in Switzerland.
SwissDirekt offers its services to private and institutional investors in asset management and through the provision of online brokerage services in Forex, futures, stocks, and CFDs trading.
SwissDirekt is a self-regulated organization, or SRO – PolyReg, with additional regulation through the Federal Department of Finance based in Switzerland.
SwissDirekt Safety or Security
SwissDirekt claims to be self-regulated and has additional regulations through the Federal Department of Finance within Switzerland, but traders will still need to heed caution in dealing with such brokers.
Thorough research is still needed especially when brokers claim to be self-regulated, there are still licenses that have to be in place that traders will have to cross-reference.
The regulation of a broker is an imperative factor to consider when comparing brokers as it ensures the security of client funds that are entrusted to brokers and provides further protection in the event that a broker becomes insolvent or is declared bankrupt.
SwissDirekt Leverage
Leverage is an extremely useful tool that can be used to increase the chance of gains and profit by allowing traders to open positions much larger than their initial deposits.
Simultaneously, leverage also exposes traders to substantial losses that may exceed their initial deposit if risk management tools such as stop loss and take profit, trailing stop, and others are not applied, in addition, negative balance protection also offers extra safety.
SwissDirekt provides Forex traders with leverage of up to 1:100 on all major currency pairs and claims to provide competitive leverage on CFD trading, although the ratios for this are not provided.
SwissDirekt Accounts
There is no substantial information available on the accounting options that SwissDirekt provides and the broker’s website does not differentiate between different accounts, but only mentions that Forex and CFD trading can be done through the broker.
The features of trading either Forex or CFD trading include:
Forex trading – leverage of 1:100, volume-based discounts, $25 commission per million traded, overnight fees which are competitive and low, the ability to place orders between the spread, and a MetaTrader 4 bridge.
CFD trading – competitive leverage, tight spreads, $0.4 commission per contract standard, volume-related discounts, low overnight financing rates, and the ability to place orders between the spreads.
Apart from this information that can be derived from SwissDirekt’s website, there is no additional information and previous reviews on the broker barely mention any accounting information that can be used for comparison.
There is mention of a demo account, but not of the option of converting a live trading account to that of an Islamic account which relieves Muslim traders from paying interest, which is prohibited by the Sharia law.
It is imperative for brokers to provide traders with as much information as possible pertaining to accounting options and features so that traders can thoroughly compare different brokers in identifying trading conditions that suit their trading needs the best.
There are, however, brokers, who only deal with traders who are on an institutional and professional level, and therefore not a lot of information is provided but generally speaking, a lack of information puts brokers at a disadvantage and questions their legitimacy.
Min Deposit
USD 0
Regulators
Not Regulated
Trading Platform
Proprietary Platforms
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
SwissDirekt Market Instruments
SwissDirekt offers the following tradable financial instruments:
Forex
CFDs on indices
CFDs on commodities, and
Commodity Future CFDs
Forex
Despite the lack of information regarding accounts, SwissDirekt offers a comprehensive list of currency pairs that can be traded. Forex Majors, Minors, and Exotic pairs are represented on this comprehensive list.
Traders have access to approximately 62 different currency pairs which is an impressive amount when compared to other brokers who mainly offer the trading of all majors, some minors, and very few exotic pairs.
CFDs
CFDs that can be traded through SwissDirekt include:
- Spot Indices include Europe 50, France 40, Germany 30, Netherlands 25, US SPX 500, US Tech 100, and Wall Street 30.
- Spot commodities that can be traded include Spot Gold and Spot Silver.
- Commodity Future CFDs include Gasoil, UK Brent, and US Crude.
SwissDirekt Fees
The only fees indicated for SwissDirekt are the commissions charged when trading Forex and CFDs. When trading Forex, there are commission fees of $25 per million traded while trades on CFDs are charged at $0.4 per contract standard.
Detailed spread information for SwissDirekt is not provided in great detail and the broker’s website merely claims that the spreads offered are tight. Previous reviews on SwissDirekt do not provide any additional information to substantiate this claim either.
The SwissDirekt website, in addition, does not provide any information on the overnight fees that traders can expect when holding positions for longer after the trading day has concluded, there is merely a claim that low overnight financing rates are charged.
Extraordinarily little other information is available on this broker regarding additional trading and non-trading fees, and it is imperative for traders to consider additional fees, including:
Overnight or rollover fees
Margin requirements
Inactivity fees along with account maintenance and management
Deposit and Withdrawal fees, and
Additional fees that have not been listed here
Min Deposit
USD 0
Regulators
Not Regulated
Trading Platform
Proprietary Platforms
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
SwissDirekt Deposit and Withdrawal
There is no information on the deposit or withdrawal procedures on the SwissDirekt website, but it can be safely assumed that SwissDirekt may support popular payment methods such as:
Bank Wire Transfer, and
Debit/Credit Cards
The deposit currencies supported are not indicated either, but it is safe to assume that common and popular currencies such as USD, EUR, and GBP will be supported.
SwissDirekt Trading Platforms
SwissDirekt offers the use of its own proprietary trading platform through which Forex and CFDs can be traded 24 hours of a day with anonymous and ultrafast trading along with superior execution, as claimed by the SwissDirekt website.
The features of the trading platform, as provided by the SwissDirekt website include:
Direct access to the markets for Forex and CFD trading
Low latency trading with the execution of trades in less than 10ms.
Reliable technology
Access to five different levels of market depth
Superior execution, and
User-friendly yet professional user interface.
In addition to this, SwissDirekt also makes provision for mobile trading, MultiCharts, API-trading, and Corner-Trader, which offers modern online trading with safety and security similar to that provided by a Swiss bank.
How to open a SwissDirekt account step by step
Most brokers provide traders with a quick, hassle-free way of signing up for an account, consisting of an online application where required basic, personal, financial, and employment information is provided along with trading experience.
To open an account with SwissDirekt, traders will have to contact SwissDirekt customer support either by telephone, via email, or by completing the online request form to enquire about the process involved in opening an account.
This puts SwissDirekt at a disadvantage as lengthy procedures involved with account application may discourage some traders from following through with the process.
Min Deposit
USD 0
Regulators
Not Regulated
Trading Platform
Proprietary Platforms
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
SwissDirekt Customer Support
SwissDirekt can be contacted either via telephone, email or by making use of the online request form which allows customer support to contact the trader with feedback on an issue or query that they may have.
The majority of brokers offer the option for traders to communicate with customer support via live/instant chat, allowing customer support to reply promptly, given that there is often a weekend gap during which this function may not work unless the broker operates 24/7.
SwissDirekt Education
SwissDirekt does not provide any educational tools or resources.
SwissDirekt Research
The only research resources provided by SwissDirekt are designated for Asset Management and involve strategies, apart from this, SwissDirekt does not make provisions for research.
SwissDirekt Awards
There are no rewards mentioned for SwissDirekt.
SwissDirekt vs Etoro vs XM – Comparison Table
| 🔎 Broker | 🥇SwissDirekt | 🥈 eToro | 🥉 XM |
| 💰 Minimum Deposit | Not provided | $1000 USD | $5 USD |
| 📝 Sign-Up Bonus | ☑️ Yes | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | 1:100 | 1:400 | 1:888 |
| 💵 Currency Pairs | – | 47 | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
SwissDirekt Pro and Cons
| ✔️ Pros | ❌ Cons |
| 1. Proprietary trading platform has impressive features | 1. Legitimacy of regulation status questionable |
| 2. Trading platform can be used on various devices | 2. Truly little information on accounting options |
| 3. High commissions charged | |
| 4. No MetaTrader 4 or 5 supported | |
| 5. No information on deposits or withdrawals | |
| 6. Account opening process is not digital | |
| 7. Customer support needs to be contacted in order to open an account |
Conclusion
Overall, SwissDirekt is a trustworthy and reliable broker that provides traders with ample digital tools. SwissDirekt offers the use of its own proprietary trading platform through which Forex and CFDs can be traded 24 hours.
Disclaimer
SwissDirekt warns against the risks involved with trading Forex and CFDs on leverage as it can result in losses that may exceed the trader’s initial deposit. Such risks are not suitable for all traders and traders need to acknowledge these risks before commencing trading.
Traders need to evaluate their exposure to risks along with their willingness to be exposed to risks and they need to ensure that they have adequate risk management protocols in place to minimize risks and the subsequent potential for excessive losses.
Frequently Asked Questions
How many instruments can I trade with SwissDirekt?
- Forex
- CFDs on spot indices
- CFDs on commodities, and
- Commodity Future CFDs
Which platforms are supported by SwissDirekt?
SwissDirekt offers the use of its own proprietary web- and mobile-based trading platform.
What spreads can I expect with SwissDirekt?
Spread information is not indicated by the SwissDirekt website or previous reviews done on this broker
Does SwissDirekt charge a commission?
Yes. Commissions of $25 are charged per million traded on Forex and $0.4 per contract standard when trading CFDs.
What is the overall rating out of 10 for SwissDirekt?
2/10
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