HELP > FAQ by subjects		 General information


CONTENTS :

  Online trading
  Fees and conditions
  Account management
  Rates
  Who we are?
  Tools
  Security and technical
Frequently Asked Questions:

Online trading
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What is online trading?
Since 1996, the year the Swiss stock exchange (SIX Swiss Exchange) was muted to an electronic system, all banks that are members of the SIX Swiss Exchange work from their own trading rooms, which are connected to the stock exchange by computer. The orders are executed by brokers (“traders”) with the click of a mouse. Online trading makes this technique accessible to private clients as well. Previously, investors had to call their bank to place their orders. In the past, investors had to phone their bank to place their orders. With Swissquote, orders are transmitted directly via the Internet in a fraction of a second and are executed immediately. This technical innovation allows our investers to enjoy lower operational costs and drastically reduced brokerage fees.
Don’t forget that orders placed via our Customer Care Center also benefit from the same favorable terms.

Who benefits the most from online trading?
Online trading is for anyone interested in lower brokerage fees and the immediate execution of their investment decisions.
The reduced rates and increased speed makes online trading attractive to even the occasional investor.
You don’t even need to have an Internet connection as orders can be placed over the phone via our Customer Care Center at no extra charge. We can assure you that no conflict of interest will arise during the transmission of your order.
If however, you feel that you require advice before making any investment decisions then we recommend you seek the professional support of your banker.
What is the difference between Swissquote and other online brokers?
Swissquote provides access to an ultramodern user-friendly trading platform that combines Internet technology know-how with banking experience. Our team also includes security specialists with numerous years of experience in major Swiss and international banks.
"Traditional" Swiss banks charge twice as much (or more) as we do. Orders placed by telephone via our Customer Care Center still benefit from the same advantageous rates.
"Online" really does mean "online": on no account will your orders be handled manually. Orders are immediately transmitted to the Stock markets in one simple click
Our system is simple, practical and reliable, from account opening to the brokerage process and transaction confirmation (which can be printed immediately).

Is it difficult to trade online?
    Absolutely not! We make sure that online trading is kept as simple as possible. Orders can be placed in two ways:
  • By phone:
    Our multilingual Customer Care Center staff is happy to place your orders by phone. Simply dial the number 01 825 88 88.
  • By Internet:
    The system will clearly lead you through the process of placing an order by asking the appropriate questions: buy or sell? Number of securities? Price limit? Expiration?
    If you inadvertently enter a value, which translates into an excessively high difference compared to the current value, you will receive a warning message. Our particularly simple system does not require the installation of any additional software. If you have access to the Internet, you can deal directly with the market.
    Is it possible to deal with foreign stocks with Swissquote Bank?
    Swissquote offers a reliable and easy to use way to:
    • trade online on the SIX Swiss Exchange, Virt-x, German markets, EURONEXT, NYSE, NASDAQ, AMEX, Canada and Scandinavian markets.
    • place telephone orders on more than 60 markets in 40 countries via our trading room.
    How can I stay informed, at all times, of the status of my account, deposit or orders?
    With Internet, you have, at all times, an overview of account withdrawals, pending orders, last transactions, etc. All the transaction and account statements can be checked and printed in the “Mailbox” section. Furthermore, our Customer Care Center remains at your disposal by telephone (01 825 88 88).
    A printed statement will be sent to you twice a year.
    Can I cancel or modify orders?
    In the mode "Open orders", you can check the status of orders placed. If you click on an order which has not yet been executed, you can cancel it immediately. In accordance with the official rules of the Swiss Stock Exchange SIX Swiss Exchange, an order that has already been released (i.e. which has already been placed on the stock exchange) can no longer be modified. To modify an order, you first have to cancel it, then place a new order.
    Why is online trading so advantageous?
    Thanks to the technical developments and the ever-increasing spread of Internet, brokerage fees have been significantly reduced. Take advantage of the benefits of technological progress. Please note that we do not offer investment advice. We do however, provide you with information and proven financial analysis tools.
    Am I provided with any advice?
    The Swissquote Bank Customer Care Center makes itself available to you to answer your questions regarding the bank and the trading system. However, strictly speaking, Swissquote Bank does not offer you any investment advice.
    How much time does a trade take?
    As soon as you place an order, it is sent to the stock exchange. If your price is being traded, your account and your safe custody are updated immediately and you can trade the concerned position again.
    How do I have to deal with corporate actions?
    Splits are preceded automatically. For other corporate actions like capital increases with shareholder rights the Swissquote Bank will inform you in advance.
    How does Swissquote treat uncompleted orders?
    The uncompleted orders are not subjected to a surcharge if they are executed within the same day. Orders that remain incomplete over several days are subject to brokerage fees for each day.
    Fees and conditions
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    How much will stamp duty and stock exchange charges cost?

    Federal stamp duty:
    • Swiss securities over all markets combined: 0.075% (purchase and sale)
    • Foreign securities over all markets combined: 0.15% (purchase and sale)
    This is an indication only. There are many special rules and exceptions: subscription to and redemption of units of Swiss investment funds, for example, are not subject to stamp duty.

    SIX Swiss Exchange stock exchange charge:
    • 0.10 CHF for each 1000 CHF tranche and part tranche.
    Please check our latest list for more information on federal stamp duty, foreign stamp duties and stock exchange charges.
    What is the minimum amount to open an account?
    No minimal amount is required. However, your account must be credited with cash or securities before you can make stock market transactions.
    What does the Swissquote Bank fee schedule look like?
    Please visit our recent fee schedule for detailed information.
    What type of stock exchange orders does Swissquote Bank offer?
    Swissquote Bank offers 5 different types of stock exchange orders on the SIX Swiss Exchange an the Virt-X:
    • "Normal"
    • "Stop Loss"
    • "Stop Limit"
    • "On Stop"
    • "Market"
    You can access 5 order types using the Advanced Trading Mask.
    For American markets, only limited normal orders and market orders can be placed.
    Is it possible to take out collateral loans (Lombard Credits) with Swissquote Bank?
    We are planning to offer collateral loans shortly. This is why you are offered the possibility of signing the form “General Deed of Pledge and Assignment" as soon as your account is opened.
    Can I be short, i.e. undertake short sales?
    No, it is not possible to sell short.
    What funds can be traded with Swissquote Bank?
    You can buy and sell vast number of Mutual Funds issued by Swissquote’s reputable partners in real time and at very competitive rates.
    You can also use our intermediary services to trade any Mutual Fund listed on the markets that we cover.
    How can I reach Swissquote Bank's Customer Care Center?
    Contact Customer Care.
    You can also send your questions and comments or contact our management : Contact
    You can place your orders via our multilingual Customer Care Center as well as obtain any technical support required.
    How much does a securities transfer cost me?
    Each bank applies its own charges. The fees and conditions section details all our rates.
    Please do not hesitate to compare them when choosing a bank or broker for your trades.
    Is the Swissquote Premium Service free?
    Premium service is free for Swissquote bank accountholders. For more details, please go to the subscription page.
    Account management
      ^  

    How can I open an account with Swissquote Bank?
    Three simple steps:
    1. Complete a request form online or phone our Customer Care Center. Your personalized account opening pack will shortly arrive by registered mail.
    2. Read this document attentively and sign the first three sheets. Return them with a photocopy of an identity card, in the pre-addressed reply envelope.Soon after, you will receive, separately by registered mail, your personal password as well as confirmation of the account opening or deposit.
    3. Deposit cash or securities into your new account either by using the forms included in your account opening pack or by using the forms available online.
    What do we mean by "Advanced Trading Mask"?
    The Advanced Trading Mask is a trading mask, which in addition to orders allowed by a normal trading mask (buy and sell) allows the following types:
    • "Stop Loss"
    • "Stop Limit"
    • "On Stop"
    • "Market"
    Basically, the advanced trading mask can be used in two ways:
    temporarily:

    1. Click on the button "Advanced Trading Mask".
    2. The mask will thus be activated for the duration of the session.
    3. When you next connect to your account, the simple trading mask will again be displayed.

    permanently:

    1. In the section "My profile", you can choose the desired display language for the trading mask for your account.
    2. Your chosen mask will then be applied to your account, until you decide to change it.
    Where can I find the forms?
    Right here!
    Where can I change my password for the bank and for Premium Service?
    Right here!
    How can I credit my Swissquote Bank account?
    Several options are available to you:
    by your bank BC 8781 (clearing)
    EURO-SIC 087812
    SWIFT ID SWQBCHZZXXX
    by post transfer to the postal account 87-112233-4
    Don’t forget to indicate your name and account number!

    Upon request, transfer forms will be sent to you.
    The form for this purpose can be downloaded in the " Bank " section, under the heading "Account management".
    How do I debit my Swissquote Bank account?
    The form for this purpose can be downloaded in the “Trading Account Environment” section, under the heading "Account management". Fill out the form, print it and send it to the given address.
    Do I get any interests on my Swissquote Bank account?
    Yes, the interest rate is variable (calculated the 1st of every month). The base interest is 25% of the interbank reference rate (Libor) for 1 month.
    How do I transfer money between my different currencies accounts?
    Thanks to Swissquote Bank, you can carry out internal account transfers between Swiss francs, US dollars and Euros, 18 hours per day. There is no minimum transaction amount. Even the smallest amount is carried out at the price displayed, at no additional cost.
    These transactions have to be done in the “Forex” section of your account.
    How long does a money transfer take?
    How long does a money transfer take?
    As a general rule, a cash transfer takes 3 working days. (Saturday, Sunday and holidays are not considered to be working days.)
    How can I transfer securities?
    Two options are available to you:
    1. You can use the Swissquote Bank form that you will find in the “Trading Account Environment” section, under the “Forms” heading.
    2. You can ask your current bank to handle the securities transfer.
    How long does the securities transfer take?
    As a general rule, the securities transfer takes between 1 to 2 weeks. For registered shares, this can take up to 3 weeks. Swissquote Bank cannot influence the length of the transfer. Please note that during the transfer period, the securities in question cannot be traded with either your current or future bank.

    It is possible to avoid the securities transfer, by selling your securities through your current bank, and then transferring the money.

    Important: you should never transfer warrants with an approaching expiration date.
    What should I do if I want to modify my personal data (e.g. a change of address)?
    You can make changes directly online, in your customer profile (access from your account) or contact our Customer Care Center on 01 825 88 88. It is with pleasure that we will make the necessary changes.
    I am unable to open my securities trading statement - why?
    You will receive all the securities trading statements in PDF format in your Account Mailbox. In order to display them, you need the free software Acrobat Reader. If you do not have it yet, you can order it free of charge from our Customer Care Center or download it directly from the Internet. In case you need assistance please do not forget that the Customer Care Center is at your disposal.
    My securities trading statement does not seem to have been correctly calculated.
    Please take into account that for foreign shares listed in Switzerland, the stamp taxes are double those for Swiss shares. This is frequently a reason that the securities trading statements seem higher. Nevertheless, if you have any doubts regarding your securities trading statement, our Customer Care Center staff will be delighted to help you.
    Can I place an order during the night?
    Yes, it is possible. However, your order will not be registered by the stock exchange. Your orders will be stored in our system till 6am, which is when the Stock Exchange systems start accepting orders again.
    What is a Mistrade?
    On the basis of “Directive 15” of the SIX Swiss Exchange rules and Regulations, the stock exchange can cancel transactions a posteriori.

    The SIX Swiss Exchange can cancel a transaction (Mistrade) if:

    - The price resulting from the transaction differs excessively from the market price or
    - Fair market conditions are not ensured.

    We call a transaction of this type a Mistrade. Determination of the market price reverts to the assessment of the Swiss Stock Exchange. There are therefore no clear rules defining a Mistrade. The Swiss Stock Exchange only has thirty minutes after the market close, to make this decision and declare the mistrades as such.

    Information:
    Swissquote Bank is bound by the directives of the Swiss Stock Exchange and has no influence on its decisions.nk est liée aux directives de la bourse suisse et n'a aucune influence sur les décisions de celle-ci.
    How can I stay informed, at all times, of the status of my account, deposit or orders?
    With Internet, you have, at all times, an overview of account withdrawals, pending orders, last transactions, etc. All the transaction and account statements can be checked and printed in the “Mailbox” section. Furthermore, our Customer Care Center remains at your disposal by telephone (01 825 88 88).
    Rates
      ^  

    What do we mean by "Bid" and "Ask"?
    Bid = price requested
    This is the highest price a buyer is willing to pay to acquire securities.
    -> price of demand

    Ask = price offered
    This corresponds to the lowest price at which a seller wants to sell his/her securities.
    -> price of supply

    Bid size and Ask size correspond to the quantity of securities requested and offered respectively.
    I don't know the name of a security, what can I do?
    Consult the help page
    What are the Stock Exchange trading hours?
    Consult the Trading Hours page
    What does "Stop Trading" mean?
    The SIX Swiss Exchange can take appropriate measures in order to ensure fair and well-ordered trading, by decreeing a Stop Trading.
    This arises when excessively large price fluctuations, compared to the reference price, are recorded. This can happen over the course of a permanent market or at opening. In this situation, operations are either interrupted or postponed until the following opening. This aims to avoid excessive fluctuations. The first price after the Stop Trading or a Delayed Opening is applied on the execution principle in force at market opening.
    If information able to trigger a price variation is known by all, the SIX Swiss Exchange can temporarily cancel the Stop Trading. However, this has to be announced to all members before opening.

    Additional information:
    Titres du SMI: ABBN, ADEN, CSGN, GIVN, LONN, NESN, NOVN, ROG, RUKN, UBSN, ZURN:

    Interruption of 5 minutes if the ensuing price differs by 0.75% or more from the reference price (no Stop Trading at opening)

    SMI Securities: BAER, BALN, CFR, CIBN, CLN, EMS; HOL, KUD, RAN, SEO, SGSI, SRN, SUN, UHR, UHRN, UNAX:

    Interruption of 5 minutes if the ensuing price differs by 1.5% or more from the reference price (no Stop Trading at opening)

    All other Swiss stocks and investment funds:

    Interruption of 15 minutes, if the ensuing price differs by 2% or more from the reference price (at opening: 15-minute deferral if the potential price at opening differs by 2% or more from the reference price. No Stop Trading on securities with a quote of less than CHF 10.-)

    Foreign stocks:

    Interruption of 5 minutes if the ensuing price differs by 2% or more from the reference price (no Stop Trading at opening)
    Rights and options: no Stop Trading.
    Who we are?
      ^  

    View "The company"
    Tools
      ^  

    What can I do with my Personal Pages?
    More information about Personal Pages
    What can I do with my Portfolio Manager?
    More information about Portfolio Manager
    Where can you find a guide to all our tools?
    Right here!
    Security and technical
      ^  

    Is it safe to trade on the Internet? Is there anyway someone could access my account?
    Our first priority is our customer’s security. We implement everything so that Internet brokerage is as secure as possible. Our security system uses the most modern encryption techniques. It is practically impossible for an unauthorised person to access your account or place orders. We are convinced that Internet trading is much more secure than orders transmitted by post.
    My browser does not display any encryption - is that normal?
    The 128-bit encryption used by Swissquote Bank is not at first sight recognised and displayed by your browser. This is because the secure data flows with non secure data. If you want to check the encryption, the encrypted frame should become the main page. This operation differs from browser to browser:
    First access your account normally.

    Internet Explorer: Right-click with your mouse and select "Properties". Only do this in the part of the screen where your account data is displayed. The address of the encrypted page will appear. Copy it and insert it in the address line of the main page.

    Netscape Communicator: In the part of the screen where your account data is displayed, click on the right button of the mouse and choose "Open the frame in a new page".

    Now that the encrypted frame has become the main page of the navigator, the address begins with "https://". This shows you that the link is numbered.
    What equipment do I need?
    Please refer to our technical recommendations page.

    Please refer to our technical recommendations concerning Browsers and Java Tools.
    Please refer to our technical recommendations concerning Browsers and Java Tools.
    Warning: Netscape 6.00 and 6.01 and Conqueror are not compatible with this site. To update your browser, just download the latest version below. It’s simple and free!
    Internet Explorer
    Netscape
    Is my money safe in my Swissquote Bank account?
    Swissquote Bank has a banking license issued by the Federal Commission of Banks (CFB) on 23rd October, 2000 and is also a member of the Swiss Association of Bankers (ASB).
    Swissquote Bank is subject to supervision by the Swiss Financial Market Supervisory Authority (FINMA). As the bank operates solely on a commission only basis, it runs no credit related risks.

    Are my deposits protected under the depositor protection scheme? Yes, like any bank or securities dealer in Switzerland, Swissquote Bank Ltd is required to sign the Agreement by Swiss Banks and Securities Dealers on Deposit Insurance and as such is a member of esisuisse. Client deposits held with Swiss branches of the bank are protected for up to CHF 100,000 per client, per bank. Deposits also include medium-term notes held in the name of the depositor at the issuing bank. All relevant information on the deposit insurance can be found at www.esisuisse.ch
    I lost / forgot my password. What can I do?
    Get a new password.
    I lost my card " level 3 ". What can I do?
    In case of loss, a new card can be ordered at any time by phone via our Customer Care Center.
    Please note that it will not be possible to place any orders during the 24hr delivery period.

    What should I do if I have a technical problem?

    More help with technical problems

    What should I do if I have a problem with my Internet connection?
      ^  

    More help with Internet connection problems