Swiss Financial Market Supervisory Authority (FINMA) Brokers 2024

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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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The Financial Market Supervisory Authority (FINMA) oversees the backbone of the Swiss economy, its financial services, with online brokers falling under its remit.

Despite criticism that it didn’t do enough to prevent the collapse of Credit Suisse and no powers to issue fines, FINMA remains a ‘green-tier’ regulator in line with our Regulation & Trust Rating, ensuring strong safeguards for traders and maintaining a warning list of over 1,575 unlicensed providers.

FINMA has also been ramping up its responses to concerned investors. In 2023, it replied to over 7,000 enquiries (up from 6,000 in 2022), with 1,600 complaints relating to “unauthorized financial market participants, who had frequently misled their investors about being located in Switzerland or about possessing a FINMA licence.”

Delve into our selection of the best brokers regulated by Swiss FINMA. We’ve verified that every platform is authorized on FINMA’s database of Banks and Securities Firms.

Top FINMA Brokers

After our tests, these 5 FINMA-regulated trading platforms came out on top:

FINMA Brokers Comparison

FINMA Brokers Comparison
Broker Regulated by FINMA CHF Account Minimum Deposit Markets Visit
IG logo
$0 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Visit
Interactive Brokers logo
$0 Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Visit
Dukascopy logo
$100 Forex, CFDs, indices, shares, commodities, metals, cryptocurrencies, bonds, binary options Visit
Swissquote logo
$1000 Forex, CFDs, Indices, Stocks, ETFs, Bonds, Options, Futures, Cryptos (location dependent) Visit
Saxo Bank logo
- Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs Visit

#1 - IG

Why We Chose IG

Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
  • Regulator: FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA
  • Platforms: Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:250 (Pro)

#2 - Interactive Brokers

Why We Chose Interactive Brokers

Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

- DayTrading Review Team
  • Instruments: Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
  • Regulator: FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
  • Platforms: Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
  • Minimum Deposit: $0
  • Minimum Trade: $100
  • Leverage: 1:50

#3 - Dukascopy

Why We Chose Dukascopy

Dukascopy is an online broker operated by a Swiss-regulated banking group. It offers a good selection of 500+ markets, with forex, stocks, gold, ETFs, indices, bonds and cryptocurrencies available. It also offers flexible trading opportunities through the choice of CFDs or binary options. Traders will use MetaTrader 4 or a proprietary platform that is well-suited to automated trading.

"Dukascopy will appeal to active day traders with fee rebates and the JForex platform for automated trading."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, commodities, metals, cryptocurrencies, bonds, binary options
  • Regulator: FINMA, FCMC, JFSA
  • Platforms: MT4, AlgoTrader
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:200

#4 - Swissquote

Why We Chose Swissquote

Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.

"We recommend Swissquote for experienced traders due to the $1000 minimum deposit and advanced trading tools. Swissquote is also a good option for investors looking for a sophisticated robo-advisory service."

- DayTrading Review Team
  • Instruments: Forex, CFDs, Indices, Stocks, ETFs, Bonds, Options, Futures, Cryptos (location dependent)
  • Regulator: FCA, FINMA, DFSA, SFC
  • Platforms: MT4, MT5, AutoChartist, TradingCentral
  • Minimum Deposit: $1000
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30

#5 - Saxo Bank

Why We Chose Saxo Bank

Saxo Markets is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC.

"Saxo is best for active traders and high-volume investors with an unrivalled selection of instruments alongside premium market research and fee rebates. The 190 currency pairs with tight spreads also make Saxo great for forex traders."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs
  • Regulator: DFSA, MAS, FCA, SFC, FINMA
  • Platforms: TradingView
  • Minimum Trade: Vary by asset
  • Leverage: 1:30

Methodology

To list the top brokers regulated in Switzerland, we:

  • Used our library comprising 500 brokers to identify those professing to be regulated by FINMA
  • Ran their details through FINMA’s online register to check they were authorized
  • Ranked them by their rating, blending 100+ data points with the direct experiences of our experts

How Can I Check A Broker Is Regulated By FINMA?

You can check whether a broker is regulated by the Swiss FINMA in three simple steps:

  1. Open FINMA’s directory of authorized institutions
  2. Input the broker’s name in the search bar
  3. Look for ‘Authorised…’ under ‘Details’

You can see this in action below, where I checked that Dukascopy is licensed by FINMA.

This Geneva-headquartered broker offers terrific trading tools. Notably, I love its mobile app which makes short-term trading on the move intuitive with over 50 indicators, price notifications, trading signals, and integrated chat support.

author image
James Barra
Author

Checking Dukascopy is regulated on Swiss FINMA database

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You can also download a complete list of the around 280 banks and securities firms authorized by FINMA in XLS or PDF.

What Rules Must FINMA-Regulated Brokers Follow?

Brokers regulated by FINMA must adhere to a range of rules to safeguard the Swiss financial sector and its participants, including active traders.

FINMA brokers also normally have to be registered as banks, requiring higher levels of financial transparency and capital requirements than alternative trading jurisdictions.

Notable rules include:

What Powers Does FINMA Have?

The array of financial services laws empower FINMA to act against non-compliant financial services providers and online brokers with the Administrative Procedure Act (APA) laying out the respective process.

Chief tools at its disposal include its warning list, with FINMA regularly adding unauthorized trading platforms, for example, MarginsTrade and Pocket Measure.

It can also take precautionary measures, where it can appoint investigating agents to clarify facts, implement measures and even act in place of management.

Alternatively, FINMA can mandate internal processes be followed, restrict certain trading activities and require management changes. Additionally, FINMA can ban unauthorized firms from continuing to deal in financial securities.

Yet unlike prominent regulators such as the FCA and ASIC, FINMA cannot issue fines.

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You can report unauthorized trading platforms and scam brokers directly to FINMA.

Bottom Line

If you’re a Swiss trader, in particular, signing up with a FINMA-regulated broker should provide peace of mind that the trading firm is held to a high level of financial transparency.

That said, very few brokers are regulated by FINMA (less than 5% we’ve evaluated), reducing your choice.

Also, Swiss-regulated brokers cannot protect against the risk that you could lose the money you deposit, especially with fast-paced strategies like day trading. Only risk what you can afford to lose.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com