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As conservative as it may seem, but only banks in Switzerland are allowed to offer forex and CFD trade. And that has been the regulatory regime in the ultra rich Alpine nation for the better part of the last decade.
Until 2009 the forex and CFD industry in Switzerland was largely unregulated and more than 200 internationally operating brokers were based in the country.
Than, in the spring of 2009 the Swiss government decided that all companies offering forex trade to retail clients should hold nothing less but a banking license. And beside other requirements, for a banking license you should maintain at all times an operational capital of at least 20 000 000 Swiss Francs, which is a considerable amount, having in mind that forex brokers in the European Union are required to hold just 730 000 EUR.
Also, Swiss banks are required to have a very solid organization, to publish an annual report within 4 months after their year-end closing, as well as a half-year balance sheet and income statement.
All that has left quite a few names on the retail forex market in Switzerland, among which we should mention Dukascopy and Swissquote. Those brokers are among the most rigorously regulated in the industry, with probably the only comparable exception the brokers, regulated in the United States.
Also in Switzerland bank deposits and consequently deposits with Swiss regulated forex and CFD brokers are guaranteed against bankruptcy up to 100 000 Swiss Francs, which give additional security to traders. The insurance is given under the Swiss Banks and Securities Dealers agreement.
The banking and forex license is issued by the Swiss Financial Market Supervisory Authority (FINMA).
Forex news from Switzerland
For the First Time: Swiss Cryptocurrency Fund Approved by FINMA
The Swiss authority in charge of regulating and overseeing the financial market – FINMA – announced that it has fully approved the
Credit Suisse to Centralize all Operations into a Single Branch
The huge financial company Credit Suisse, as reported by Reuters this Wednesday, is considering an act of centralization of all its management
Swiss Bank Becomes First to Offer Tokenized Shares
A successful integration of distributer ledge technology was achieved today by Swiss-based digital asset bank, Sygnum Bank AG. The bank will use
Swissquote-Tesla Collaboration Launches Car Leasing Plan
A newly formed partnership between electric car manufacturer Tesla and online trading platform Swissquote aims to increase the Swiss-based company’s services in
FINMA warns against Forex scammer SwissCrypto365
Unregulated Forex brokerage SwissCrypto365 has been blacklisted by the the Swiss financial watchdog Financial Market Supervisory Authority FINMA. As an integrated supervisory
FINMA warns against PrimeCapitec
The unregulated Forex brokerage PrimeCapitec has been added to the warning list of the Swiss financial watchdog Swiss Financial Market Supervisory Authority
Luxembourg’s CSSF issues warning against yet another scam website
Unregulated “Forex” brokerage GoldenCfd Broker Firma has been blacklisted by the The Commission de Surveillance du Secteur Financier (CSSF). The country’s main financial
Swiss FINMA warns against Swiss500
The unregulated Forex brokerage Swiss500 has been added to the warning list of the Swiss financial watchdog Swiss Financial Market Supervisory Authority
UK’ FCA warns against phony Swiss Forex broker
Wealth Capital is yet another unregulated Forex brokerage that has been added to the long warning list of the Financial Conduct Authority
Swiss FINMA blacklists HandelFX
The unregulated Forex brokerage HandelFX has been added to the warning list of the Swiss financial watchdog Swiss Financial Market Supervisory Authority
Swiss regulator fines five banks $91 mln over FX cartel
Citigroup Inc., Barclays Plc, JPMorgan Chase & Co., Royal Bank of Scotland Group Plc and Japan’s MUFG Bank Ltd. will be fined
Swiss authorities blacklist unregulated brokerage CCFDBank
The unregulated Forex brokerage CCFDBank supposedly based in Switzerland has been added to the warning list of the Swiss financial watchdog Swiss Financial
Swirzerland’s FINMA adds binary options platform provider Bloombex Online to warning list
The Financial Market Supervisory Authority (FINMA), the Swiss financial regulator, has added binary options company Bloombex Online to its warning list, data
Switzerland’s FINMA adds FX, CFDs broker UnitFx to black list
Switzerland’s financial regulatory body, the Financial Market Supervisory Authority (FINMA), has added forex and contracts for difference (CFDs) broker UnitFx to its
Switzerland’s FINMA adds forex broker AlgoBanque to warning list
The Financial Market Supervisory Authority (FINMA), the Swiss financial regulator, has added automated forex broker AlgoBanque to its warning list, data from