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4 Best FINMA-Regulated Forex Brokers

Last Update: June 26th, 2024

Best FINMA-Regulated Forex Brokers

 

The 4 best FINMA-Regulated Forex Brokers revealed. We have explored and tested several prominent brokers to identify the list of 4 best forex brokers regulated by FINMA in Switzerland.

 

In this in-depth guide you’ll learn:

  • What is a FINMA-regulated Forex broker.
  • Best FINMA regulated brokers reviews.
  • Who is the Best Regulated forex broker in Switzerland.
  • Pros and cons of each broker.
  • Popular FAQs about FINMA-regulated Forex brokers in Switzerland.

 

And lots more…

So, if you’re ready to go “all in” with 4 best FINMA-regulated Forex brokers

Let’s dive right in…

 

🏆 10 Best Forex Brokers

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewCySEC, MISA, FSCAUSD 25Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit Broker >>

 

4 Best FINMA-Regulated Forex Brokers (Switzerland) (2024*)

  1. ☑️Dukascopy – Overall, Best BaFin Regulated Forex Broker in Germany.
  2. ☑️Saxo Bank – Known for its Extensive Market research tools.
  3. ☑️Swissquote – One of the Biggest FX and CFD brokers listed on global stock exchanges.
  4. ☑️IG Group – Is an Over the Counter (OTC) derivatives broker.

 

What is a FINMA-Regulated Forex broker?

 

The Swiss Financial Market Supervisory Authority (FINMA) is responsible for financial regulation in Switzerland. FINMA regulates independently of Swiss politics and is funded by member fees. Banks, insurance firms, financial institutions, collective investment schemes, asset managers, and fund managers are under its supervision. It oversees insurance intermediaries. It safeguards creditors, investors, and policyholders. FINMA ensures financial sector competition is fair.

 

The 4 Best FINMA-Regulated Forex Brokers

🔎Broker Name👉 Open Account💻Account Types💰Minimum Deposit💻 Demo Account
Dukascopy👉 Open AccountForex/CFD ECN Account
Forex MT4 Account
From 100 USD
Saxo Bank👉 Open AccountSaxo Account
Professional Account
Joint Account

ISA account
SIPP account
Trust account
From 0 USD
Swissquote👉 Open AccountSwissquote Account
Forex & CFDs Account
From 0 USD
IG👉 Open AccountPersonal Account
Business Account
Creator Accounts
From 0 USD

 

Dukascopy

 

Overview

Dukascopy is a Swiss online forex and CFD broker and hosts a subsidiary of Dukascopy Bank, which is officially registered as a Swiss bank with the Swiss Financial Market (FINMA) authority.

 

FINMA is a Tier 1 authority and provides the regulatory framework for this Bank. Additionally, it is also a member of the Swiss Bankers Association and the International Swaps and Derivatives Association (ISDA).

 

This bank has been providing services to customers worldwide since 2004. It has a wide range of business interests and provides both binary options and personal retail Forex trading accounts.

 

Dukascopy

 

At Dukascopy, technology plays a major role. In 2019, the bank became the first in Switzerland to launch its own cryptocurrency, called Dukascoin.

 

Both the proprietary multi-asset JForex trading platform and the MT4 trading platform allow traders to manage their portfolios.

 

The research section is top-notch by all measures, and a plethora of trading tools and distinctive features provide enormous value. The most extensive total offers on the market right now are enhanced by the ongoing inclusion of new services and a variety of bonus programs. For those who are new to asset management organizations, it is the perfect option.

 

Unique Features

📝 RegulationFINMA, JFSA, FCMC.
📱 Social Media PlatformsLinkedIn, Twitter, Facebook, YouTube, Weibo
🔎 Trading AccountsDukascopy account, MT4 account, JForex account
💻 Trading PlatformsMeta Trader 4, Meta Trader 5, JForex
💸 Minimum Deposit$1000
🔁 Trading AssetsForex, commodities, equity and index CFDs, cryptocurrencies, bonds, ETFs, and binary options
💲USD-based Account?✔️ Yes
💲USD Deposits Allowed?✔️ Yes
💰 Bonuses for traders?✔️ Yes
📊 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes
👉 Open Account👉 Open Account

 

Dukascopy Pros and Cons

✔️ Pros❌ Cons
is well regulated under a Swiss banking license (FINMA) as well as by Japan FSA and FCMC of Latvia which are both top regulatory authorities.Dukascopy charges a higher minimum deposit than some other brokers, which may be a hurdle for new traders.
Dukascopy's JForex platform is well-known for its reliability, speed, and comprehensive trading features, which provide traders with a flawless trading experience.While JForex has extensive functionality, it may have a higher learning curve for new traders than more user-friendly platforms.
offers at offers a wide range of tradable assets which include forex, cryptocurrencies, commodities, and several more. Traders can choose between plenty of lower-risk securities and higher-yield/risk assets.educational content offered by Dukascopy is rather limited.
Traders with dormant accounts may face inactivity fees, which may be an issue for individuals who do not trade frequently.does not have a fixed round-turn commission, the commission depends on the account balance and traded volume which can be a problem for traders.
Dukascopy may provide less promotional offers or bonuses than other brokers, which could be a disadvantage for traders looking for more incentives.The website can be quite overwhelming especially for beginner traders who are still trying to find their way in the financial world of forex.

 

Trust Score

Dukascopy has a high trust score of 90%.

 

Saxo Bank

 

Overview

It is a leading fintech and regtech specialist broker situates in Copenhagen, Denmark. Saxo Bank is highly regulated by six top tier regulatory bodies namely FINMA in Switzerland, FSA in Denmark, the FCA in the UK, MAS in Singapore, ASIC in Australia, and the JFSA in Japan.

 

The Broker connects traders, investors and partners to 35000+ instruments and sets itself apart by building digital platforms to facilitate multi-asset market access. Assets include CFDs, stocks, forex, ETFs, bonds, mutual funds, crypto, commodities, options and more all through a single account.

 

Saxo Bank

 

They offer clients cutting-edge research instruments, industry-best and competitive rates, and first-rate customer support. Saxo Bank supports more than 300 financial intermediaries, 120 banks, and brokers with prime brokerage services, trading technology, and multi-asset execution through open banking solutions.

 

Saxo Bank differentiates itself by building digital platforms to facilitate multi-asset market access and provides clients of all sizes with professional-grade tools, industry-leading prices, and best-in-class service.

 

Unique Features

📝 RegulationFINMA, FSA, FCA, MAS, ASIC, JFSA
📱 Social Media PlatformsLinkedIn, Twitter, Facebook, YouTube
🔎 Trading AccountsClassic, Platinum and VIP
💻 Trading PlatformsSaxoInvestor, SaxoTraderGo, SaxoTraderPro
💸 Minimum Deposit$2000
🔁 Trading AssetsForex, commodities, CFDs, bonds, ETFs, Stocks, Mutual Funds, Crypto ETPs options
💲USD-based Account?✔️ Yes
💲USD Deposits Allowed?✔️ Yes
💰 Bonuses for traders?❌No
📊 Minimum spreadFrom 0.9 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account❌No
👉 Open Account👉 Open Account

 

Saxo Bank Pros and Cons

✔️ Pros❌ Cons
Saxo Bank excels in providing a diverse range of assets, including forex, stocks, bonds, and commodities. The platform may be overwhelming for novice traders due to its advanced features and tools.
The platform offers sophisticated tools for in-depth market analysis, catering to experienced traders. Compared to some competitors, Saxo Bank's fees may be relatively higher, impacting cost-effectiveness.
Saxo Bank provides extensive access to global financial markets, allowing diverse investment opportunities. The sophisticated platform might have a steeper learning curve, requiring time to master for some users.
Experienced traders benefit from tailored support and research resources, enhancing decision-making capabilities. Saxo Bank applies high trading fees for bonds, options, and futures, as well as inactivity and custody fees.
Saxo Bank incorporates cutting-edge technology for seamless and efficient trading experiences. Even though SaxoTraderGO platform’s charts are excellent, you can't use the drag-and-drop feature to easily change your stop-loss and limit orders.

 

Trust Score

Saxo Bank has a high trust score of 93%.

 

Swissquote

 

Overview

It is one of the biggest and more reputable brand names in the online trading business and is regulated by top-tier financial authorities, namely the Swiss Financial Market Supervisory Authority (FINMA), Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) and the UK’s Financial Conduct Authority (FCA).

 

The parent company, Group Holding Ltd, is the top supplier of trading services as well as online financial services in Switzerland.

 

Swissquote 

 

The broker offers trading access to over 3 million financial assets, whereas the assortment of tradable instruments on the broker’s retail accounts are 400+.

 

The traders can choose between the globally known and preferred MetaTrader 4 and 5 as well as the in-house superior Swissquote Advanced Trader, which allows for the implementation of more intricate strategies. They also incorporate Auto chartist and Trading Central tools.

 

Overall, they provide affordable services to individual customers and in creating customized offerings that target both corporate and independent asset managers.

 

Unique Features

📝 RegulationFINMA, CSSF, FCA, DFSA, SFC, MAS and MFSA
📱 Social Media PlatformsLinkedIn, Twitter, Facebook, YouTube, Instagram, Tiktok
🔎 Trading AccountsStandard account, Premium Account, Prime Account, Professional Account
💻 Trading PlatformsMT4, MT5, Advanced Trader (in-House)
💸 Minimum Deposit$1000
🔁 Trading AssetsPrecious metals, Currency pairs, CFDs
💲USD-based Account?✔️ Yes
💲USD Deposits Allowed?✔️ Yes
💰 Bonuses for traders?No
📊 Minimum spreadFrom 1.7 pips
💻 Demo Account✔️ Yes
☪️ Islamic AccountOnly on request
👉 Open Account👉 Open Account

 

Swissquote Pros and Cons

✔️ Pros❌ Cons
is highly regulated through various regulatory bodies in the jurisdictions that it operates in – FINMA in Switzerland, CSSF in Luxembourg, FCA in the UK, DFSA in Dubai, SFC in Hong Kong, MAS in Singapore and MFSA in Malta.high minimum deposit requirement makes it difficult for beginner traders to start trading with Swissquote
offers trading in a large range of financial instruments, which leaves a wide choice for beginner and novice traders.absence of a competitively priced cost structure remains the most notable drawback at Swissquote.
offers trading in the popular MetaTrader 4 and 5 as well as its in-house Advanced Trader which has great supporting tools.does not run promotions or give bonuses. It does, however, run a refer-a-friend program that pays out to both referrers and referees, but the minimum incentives need large deposits.
Autochartist is integrated into Advanced Trader, enhancing the user interface and platform experience.Although Swissquote has access to deep liquidity and accommodates fast order execution, it does not have the best execution policy.
sets itself apart from the competition by providing top-notch market research materials, such as webinars, video content, blog commentary, economic calendars, and streaming news headlines.can improve its fees and account types. With a minimum deposit requirement of $1000 and spreads starting from 1.7 pips on its Standard account, its most affordable service does not have particularly favourable costs.

 

Trust Score

Swissquote has a trust score of 98%.

 

IG Group

 

Overview

IG is publicly traded, does operate a regulated bank, and is authorized by eight Tier-1 regulators. IN Switzerland it operates with a FINMA license. Being a publicly listed company, IG is an extremely safe broker. It is also known as IG Trading.

 

In addition to FINMA the other Tier-1 regulators are Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), Financial Markets Authority (FMA), Commodity Futures Trading Commission (CFTC), and MiFID.

 

IG Markets

 

The range of markets available to you may vary depending on which of IG’s regulatory entities holds your account. Residents of the various countries it operates in must choose their respective local IG entity.

 

IG offers versatile services when it comes to trading forex and CFDs. The platform lists over 17,000 trading instruments across various asset classes, including forex, indices, stocks, commodities, cryptocurrencies and more. The spreads charged are also low.

 

The broker has minimal non-trading costs and a range of deposit and withdrawal options. Additionally, the broker has a top-notch customer service team.

 

Unique Features

FeatureInformation
🏛️ RegulationFINMA, ASIC, JFSA, MAS, FCA, FMA, CFTC, MiFID
📲 Social Media PlatformsLinkedIn
Twitter
Facebook
YouTube
💻 Trading AccountsInternational Account
Domestic Account
Corporate Account
📊 Trading PlatformsMetaTrader 4
IG Trading
💰 Minimum Deposit$200
📉 Trading AssetsForex, Indices, Cryptos, Shares, Commodities CFDs
💲 USD-based Account?✔️ Yes
💲 USD Deposits Allowed?✔️ Yes
➕ Bonuses for traders?No
📈 Minimum spreadFrom 0.8 pips
💻 Demo Account✔️ Yes
☪️ Islamic AccountNo
👉 Open Account👉 Open Account

 

IG Group Pros and Cons

✔️ Pros❌ Cons
IG offers over 19,000 financial instrumentsIG offers over 19,000 financial instruments IG's fee structure can be complex
IG is well-regulated by several regulatory entities, including FCAThere is a high minimum deposit
There is a wealth of education availableThere is a wealth of education available Inactivity fees apply
IG offers support for traders by offering trading toolsSome regions have limited access to financial instruments
IG serves traders around the world

 

Trust Score

IG has a trust score of 98%.

 

FINMA-Regulated Forex Brokers 1

 

Conclusion

 

Overall, choosing the right FINMA-regulated Forex broker is crucial for traders in Switzerland who seek security, transparency, and reliability in their trading endeavors. By considering features like platforms, fees, investment options, regulatory compliance, and customer support, traders can select the best broker for their requirements.

 

Frequently Asked Questions

 

What does FINMA do?

 

FINMA is the Swiss regulatory body, and as such has authority over banks, insurance companies, securities dealers, stock exchanges, collective investment schemes and Forex brokers. It is responsible for setting rules and regulations that financial institutions have to comply with. The standards that FINMA has put in place are very high, in fact, higher than most other regulators. That is possibly why there are so few FINMA-regulated brokers.

 

Is forex trading legal in Switzerland?

 

Yes, itis legal in Switzerland and it is a well-regulated activity overseen by FINMA. It was established by the Swiss parliament to oversee the forex financial sector and derivatives market. This legal framework ensures that the forex trading environment adheres to strict financial regulations, providing safety and transparency to traders.

 

Is it possible to trade with non-FINMA-regulated brokers in Switzerland?

 

Yes, it is possible but not recommend as these brokers don’t have to adhere to the stringent regulations and standards of the Swiss Financial Market Supervisory Authority. These brokers’ lack of regulatory control puts you at risk for dishonest trading practices or fraud. Selecting brokers registered by FINMA is advised for maximum security and regulatory protection.

 

Where is FINMA based?

 

FINMA was established in 2007 and it an independent institution based in Bern. It succeeded the Federal Banking Commission that was established in 1934.

 

Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?

 

In order to better serve their clients all across the globe, brokers often run several organizations. Regulators’ licenses from various countries do not necessarily provide the same level of security. While some authorities insist on the most stringent financial framework compliance, others are more lenient. This is why prospective account holders should research the security measures offered by the firm they wish to do business with. FINMA in Switzerland is known for its high regulations and strict policies.

FAQs

FINMA is the Swiss regulatory body, and as such has authority over banks, insurance companies, securities dealers, stock exchanges, collective investment schemes and Forex brokers. It is responsible for setting rules and regulations that financial institutions have to comply with. The standards that FINMA has put in place are very high, in fact, higher than most other regulators. That is possibly why there are so few FINMA-regulated brokers.

Yes, itis legal in Switzerland and it is a well-regulated activity overseen by FINMA. It was established by the Swiss parliament to oversee the forex financial sector and derivatives market. This legal framework ensures that the forex trading environment adheres to strict financial regulations, providing safety and transparency to traders.

Yes, it is possible but not recommend as these brokers don’t have to adhere to the stringent regulations and standards of the Swiss Financial Market Supervisory Authority. These brokers’ lack of regulatory control puts you at risk for dishonest trading practices or fraud. Selecting brokers registered by FINMA is advised for maximum security and regulatory protection.

 

FINMA was established in 2007 and it an independent institution based in Bern. It succeeded the Federal Banking Commission that was established in 1934.

In order to better serve their clients all across the globe, brokers often run several organizations. Regulators’ licenses from various countries do not necessarily provide the same level of security. While some authorities insist on the most stringent financial framework compliance, others are more lenient. This is why prospective account holders should research the security measures offered by the firm they wish to do business with. FINMA in Switzerland is known for its high regulations and strict policies.

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