Connect with us

news

Forex Trading in Switzerland • Forex Strategies • Benzinga

Famous for its private banking system, Switzerland has been a world center of finance for centuries. With respect to forex trading, Switzerland has a relatively strict local regulatory environment, although many reputable and well-regulated forex brokers based outside of Switzerland accept Swiss clients.

Benzinga Money is a reader-supported publication. We may earn a commission when you click on links in this article. Learn more.

Famous for its private banking system, Switzerland has been a world center of finance for centuries. With respect to forex trading, Switzerland has a relatively strict local regulatory environment, although many reputable and well-regulated forex brokers based outside of Switzerland accept Swiss clients. 

Think you’re ready to begin trading forex? You’ll need to find a good broker and should develop a profitable trading plan to get started trading forex in Switzerland. 

Get Started with Forex in Switzerland

To get started as a forex trader in Switzerland is relatively easy. Just follow the steps listed below to open a trading account so that you can begin to trade forex online:

  1. Get a dependable device to access the internet such as a smartphone, computer or tablet.
  2. Research which online forex brokers accept clients from Switzerland.
  3. Apply and open a margin trading account with the broker of your choice. 
  4. Make an initial deposit in the account via a payment method acceptable to the broker.
  5. Download and gain access to the broker’s proprietary trading platform or a platform supported by the broker.   
  6. Make your first trade.

After completing these steps, you will have a live, funded account with an online forex broker. That’s all you’ll need to begin trading currencies from Switzerland. 

Switzerland Forex Trading Strategies

If you haven’t already, the next step is to work out a profitable trading strategy to improve your chances of being successful when you trade forex. The strategy you decide to use will largely depend on your previous trading experience, your personality type and the spare time you’ll have to develop and use your trading skills. 

Many successful forex traders use one or more of these popular strategies:  

Trend trading: This strategy involves identifying a major market trend and positioning along with it based on your long-term market view. The trend trader generally establishes positions that follow the major trend and liquidates the position once the trader determines the trend has concluded. 

Day trading: This encompasses a wide variety of strategies, although the common point is that the day trader closes out all positions at the end of the trading session or “day.” This allows day traders to avoid the added risk of holding positions overnight when they may not be focused on the market. Since the forex market stays open from Sunday to Friday afternoon EST, forex day traders generally need to select a specific trading session to operate in. 

Scalping: A short-term trading strategy that involves taking advantage of very small market moves. The scalper swiftly enters and exits the market aiming to capture a small profit each time. 

Swing or momentum trading: This trading strategy involves the interpretation of technical momentum indicators to signal market reversals. Swing traders often take positions overnight since this strategy has no time constraints. 

News trading: Keeping a keen eye on geopolitical news and economic releases is often the basis for this trading strategy. News traders typically wait for an important release and set up their positions and orders to profit from resulting market volatility.

Average Directional Index (ADX) in the USD/CHF currency pair

This daily chart displays the 10-day moving average and the Average Directional Index (ADX) in the USD/CHF currency pair that a trend trader could have used to profit from given the significant market decline seen in the pair from April to July 2020. Source: MetaTrader.

Forex Trading Example in Switzerland

Switzerland’s national currency is the Swiss franc (CHF) that is further divided into 100 smaller units known as centimes in French that also have other names depending on the language spoken. The Swissmint issues coins, while the Swiss National Bank (SNB) issues banknotes and manages the Swiss franc’s value. 

The Bank for International Settlements (BIS) reported that the Swiss franc ranked 7th in forex market turnover in April 2019 among other national currencies. The CHF is also a popular reserve currency held by central banks, ranking 8th worldwide in June 2020 according to the International Monetary Fund (IMF). 

A recent quote for the USD/CHF exchange rate was 0.9300 Swiss francs to 1 U.S. dollar. If you have the view that the USD/CHF exchange rate will rise, then you can buy 100,000 U.S. dollars versus the Swiss franc today at that 0.9300 exchange rate. 

If the USD/CHF exchange rate subsequently rose to 0.9500, then you would calculate your trading gains using the formula below:

100,000 USD x (0.95-0.93 CHF/USD) = 2,000 CHF

To convert that profit in Swiss francs profit into U.S. dollars, you would do the following calculation:

2,000 CHF ÷ 0.95 CHF/USD = 2,105.26 USD

On the other hand, if the USD/CHF exchange rate were to fall to 0.91, then your trading loss would be calculated as follows:

100,000 USD x (0.91-0.93 CHF/USD) = -2,000 CHF

That loss would be converted into U.S. dollars at the 0.91 USD/CHF exchange rate using this equation:

-2,000 CHF ÷ 0.91 CHF/USD = -2,197.80 USD

Making Money with Forex in Switzerland

Making money in the forex market trading from Switzerland depends largely on the development of a successful trading plan. The trading plan should include a profitable trading strategy, a guide to position sizing and a component for sound money management.

The success you’ll achieve trading forex depends in large part on how well your trading strategy works and if you have sufficient patience and discipline to stick to your plan. Any strategy that has had any level of success can be part of a trading plan, whether you trade for long term moves or day trade the market for short term profits.  

You may think that developing a trading plan and strategy might be a lot of work, however, the potential rewards can make your effort worth the time. Nevertheless, remember that due to constantly changing market conditions, any strategy that works initially might yield diminishing results over time. 

Best Online Forex Brokers in Switzerland

If you would like to start trading forex from Switzerland, a good first step would be to find a dependable online forex broker that meets your needs. You’ll also want to have developed a plan of action or trading plan that incorporates a profitable strategy if you don’t plan on copying the trades of another trader using a social trading network. 

Forex transactions in Switzerland are regulated by the Swiss Financial Market Supervisory Authority (FINMA), which also oversees online forex brokers operating in the country. The maximum leverage ratios available to you in Switzerland and the minimum required deposit to start trading will depend on the broker you decide to use. Since many international brokers accept clients from Switzerland, you have a wide selection to choose from as the table below shows.  

Account Minimum

100 EURO

Pairs Offered

50+

Account Minimum

100 EURO

Pairs Offered

50+

1 Minute Review

A fully regulated broker with a presence in Europe, South Africa, the Middle East, British Virgin Islands, Australia and Japan, Avatrade deals with mainly forex and CFDs on stocks, commodities, indexes, forex, cryptocurrencies, etc. This brokerage is headquartered in Dublin, Ireland and began offering its services in 2006. It offers multiple trading platforms and earns mainly through spreads.

Best For
  • Beginners
  • Advanced traders
  • Traders looking for a well-diversified portfolio
Pros
  • Controlled by regulatory agencies of multiple countries
  • Choice offered in terms of trading platforms
  • Support available in 14 languages and trading platforms in 20 languages
  • Practice/demo account available for trying out
  • Breadth of trading assets
Cons
  • Does not accept customers from the U.S. as it isn’t regulated in the U.S.
  • Transferring funds to the account may take up to five days; withdrawals could take up to 10 days
Account Minimum

100 of your selected base currency

Pairs Offered

80+

Account Minimum

100 of your selected base currency

Pairs Offered

80+

1 Minute Review

FOREX.com is a one-stop-shop for forex traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, FOREX.com is an excellent choice for brokers searching for a home base for their currency trading. New traders and seasoned veterans alike will love FOREX.com’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels. While FOREX.com is impressive, remember that it isn’t a standard broker. You can’t invest in the stock or bond market through your FOREX.com and you cannot open an account with tax advantages. The confusing pricing and margin structures may also be overwhelming for new forex traders.

Best For
  • MetaTrader 4 users
  • Beginner forex traders
  • Active forex traders
Pros
  • Impressive, easy-to-navigate platform
  • Wide range of education and research tools
  • Access to over 80 currencies to buy and sell
  • Leverage available up to 50:1
Cons
  • Cannot buy and sell other securities (like stocks and bonds)
  • Confusing margin requirements that vary by currency
  • Limited customer support options
  • Cannot open an IRA or other retirement account
Account Minimum

$50 USD

Pairs Offered

47

Account Minimum

$50 USD

Pairs Offered

47

1 Minute Review

Though Australian and British traders might know eToro for its easy stock and mobile trading, the broker is now expanding into the United States with cryptocurrency trading. U.S. traders can begin buying and selling both major cryptocurrencies (like Bitcoin and Ethereum) as well as smaller names (like Tron Coin and Stellar Lumens).

eToro offers traders the opportunity to invest their assets into premade portfolios or cryptocurrencies, similar to services offered by robo-advisors through traditional brokers. Though eToro isn’t a one-stop-shop for everything an investor needs, its easy-to-use platform and low spreads is a great way to enter the cryptocurrency market.

Best For
  • International Forex/CFD Traders
  • New cryptocurrency traders looking for an easy-to-use platform
  • Traders who want to buy and sell cryptocurrencies on-the-go
Pros
  • Simple platform that is easy to master
  • CopyTrader feature that allows new traders to copy the same strategies used by professionals
  • Virtual dummy account that gives you $100,000 to practice trades
Cons
  • U.S. traders currently limited to cryptocurrencies
  • Only 15 major coins available to trade

Forex Terminology

Most professions have a set of specialized terms known as a jargon that novices need to learn as part of their training. Forex traders use several unique terms among themselves to refer to aspects of their market that you should become familiar with before starting to trade. 

  • Lot size: A standardized trading unit. Among online forex brokers, a standard forex lot consists of 100,000 base currency units. Smaller sizes include mini-lots (10,000 units) and micro-lots (1,000 units).  
  • Pip: An acronym for “point in percentage,” the term refers to the tiniest movement a currency pair’s exchange rate can make. 
  • Margin call: A form of notice a broker gives to a client to add additional margin funds to their trading account to cover open positions. These days, many online forex brokers just automatically liquidate positions when the margin required to hold them exceeds your account balance. 
  • Orders: Commands given to your broker to make transactions for you. Common forex orders include market, limit, stop-loss and take profit orders.  

Is Trading Forex from Switzerland for You?

Trading forex successfully from Switzerland requires market knowledge and a viable trading strategy. With a good plan, traders who meet those requirements generally have a much better chance of becoming profitable. 

Any broker you choose should have strict oversight by a respectable financial regulator. You can start your search for a broker by checking out the ones we recommend and opening a demo account to test their services and your trading plan.

Continue Reading
Advertisement

news

Online Trading platform SIRIX

best-forex-demo

SIRIX|  Online Trading platform SIRIX Review

[yasr_overall_rating]

Everyone that has been trading for some time has most likely traded on the metatrader 4 trading platform of metaquotes. This has been the standard in the industry for the last couple of years.

 

But more and more brokers Like CMSTrader and UBCFX are offering alternatives that might suite certain traders even better then the MT4 as they have a lower learning curve and are designed more intuitive.
One of these platforms is the Sirix Trading Platform.
The Sirix Trading platform is

Sirix, a fully packed trading software with numerous with numerous options and special indicators that are designed by the software company to present you with a personalized trading experience.

Positive features and benefits of the Sirix Trading Platform

Ease of Use: if you are a trader you will be able to access your Sirix trading platform and see all your trades and other information at any place and time. The Web-trader is a fully function trading platform that does not require you to do any download. This has more or less become the norm of the industry and if you for example take the Sirix Trading platform of LegacyFX you will be able to have a download desktop version, a web version and a mobile version.
these in general all have the same functionalities but of course is the mobile version a bit more limited due to the smaller screen real estate.

Indicators and Options: this platform provides build I more than 50 Indicators which for most traders is over kill but it does allow most traders to find the right indications to match their trading behavior and trading strategies.

The Charting Package that Sirix provides is easy enough to understand and gives you as a trader all the information you need, there are different time frames that in combination with the ability to display lines and annotations make this platform feel like it is designed for you.

Social Trading: Sirix has a full feature social trading module that allows you to watch the trades of others which might give you new insights and trading ideas. If you come a across a trader that is particular successful you are able to copy that traders’ trades and create a full automated copy trader,
You as the trader are still in charge and you have the option to trade with lesser or higher amount then the trader you are copying.
In order to use the social trading, you have to open an account with their social trading community.

This can only be done by using a nickname an order to protect you identity. When you are part of the community then you are part of all the brokers that offer this feature to their traders. Meaning you are able to follow a trader that is trading with 12trader while you are trading with account from UBCFX or any other broker that has Sirix.

Now I have to mention that if you look to only trade social then the Etoro Platform is still a better solution s this system is built only for social trading and they have pretty much defined the concept.

 


Sirix Crypto Trading Platform

this is the latest platform that was launched by Leverate.

it focuses , just like the name says more n the trading of cryptocurrencies.

as this company understands that this is the direction where the market is going and more and more traders are asking for trading in Bitcoin or ripple trading to just name a few they have added this feature to the Sirix Platform , this means that every broker that has the sirix trading platform is in theory able to offer trading in cryptocurrencies.

in addition they have launched also a platform that is only trading cryptocurrencies but that will be another review as i have yet to see and play with this system


Conclusion
The Software company Leverate has created a very user friendly platform with inbuilt social trading and news functionality. When they launched this platform in 2012 it was already a good platform but today it rivals the best of them easily.

The Intuitive aspect of this platform is one of the key features and makes the threshold of trading lower for newbies. There is also a fastn amount of Sirix Tutorials out there that will help even the total beginners with the Sirix Platform

Now of the traders that need bots and more indicators then there sis still nothing that beats the metatrader 4 trading platform but for many traders Sirix offers more then enough and makes the trading experience easier then with MT4.
More and more brokers are offering this alongside their other trading platform so you as a trader will come across more and more brokers that have the Sirix Trading platform in their arsenal.

These are some of the Best Broker for trading on Sirix

UBCFX
LegacyFX
12Trader
CMStrader

Continue Reading

news

Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Bringing DLT Specialists Together:

 

 On September 11, Sweden will host Blockchain & Bitcoin Conference Stockholm organized by Smile-Expo – international coordinator of business events.

The conference will introduce various topics regarding blockchain and will drive attention to the most topical problems of the cryptocurrency market today.

Key speakers:[yasr_overall_rating]

One of the invited experts is the Member of Swedish Parliament Mathias Sundin who is involved in the Tax Committee and the Finance Committee. The specialist has co-founded a revolutionary technological organization Warp Institute and joined financial company Goobit. At the event, the speaker will analyse the power of decentralized systems, evaluating its long-term strenghts.

Head of Digital and Innovation at Landshypotek Bank Merete Salmeling will deliver the presentation, too. She will explain how DLT can be integrated into the real estate, and what advantages it brings.

President of Blockchain Alliance Europe Tanja Bivic Plankar will join the conference as well. Being an initial coin offerings expert, she will share knowledge about ICOs, describe recent innovations in the token sale sphere and talk about the regulatory framework.

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

Regulatory and legal challenges coming with innovations will also be discussed by Dr. Guenther Dobrauz-Saldapenna – Partner & Leader PwC Legal Switzerland. The speaker is a lawyer, VC investor, and banking specialist. He provides business consultations and has already written 10 books discovering innovative processes, money and technology.

See the full list of Key speakers here

Blockchain & Bitcoin Conference Stockholm is the second crypto event in Sweden carried out by Smile-Expo. The company has already held 40 successful crypto conferences in 25 countries.

Use an opportunity to meet leading DLT specialists, ask questions and learn new topical information about the blockchain industry at first hand at the conference!

Blockchain & Bitcoin Conference Stockholm

Details of the event and registration are available on the official website of Blockchain & Bitcoin Conference Stockholm.

Continue Reading

news

Go Visit the Blockchain & Bitcoin Conference Stockholm

Go Visit the Blockchain & Bitcoin Conference Stockholm

The Blockchain & Bitcoin Conference Stockholm is a highly anticipated crypto event in Sweden.  and is being held for the second time.

after the success of the first one they look to make this event a annual one.  since the crypto industry is going more and more out of the shadows and becomes more mainstream you will find that the quality of people involved also grows.

this is clearly displayed in the extensive list of speakers at this event.

Event goals:

bringing together the international business community in order to share their experience of integrating blockchain and cryptocurrencies; discussing blockchain industry issues and finding ways to solve them; encouraging a balanced growth of the cryptocurrency market.

Conference topics: 

  • blockchain in various sectors: energy industry, real property, newsmaking etc.
  • Legal regulation of the blockchain sector
  • token models and their application
  • ICO regulation.

Speakers:

the list of world-renowned blockchain experts, including government officials, foreign investors, entrepreneurs, lawyers, and developers is impressive and should get this event the notice it deserves.

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

who should not miss this Event :

investors, business people, lawyers, startup founders, and those aiming to launch a token sale.

why should not miss this Event :

:to receive full information with case studies about the blockchain application, to discover how to comply with the legal norms in the blockchain industry, to find business partners, and to enhance your brand awareness.

Prices of the Event

Standard ticket  – 240 EUR

  • Full access to all conference sessions
  • Access to demo area
  • Сoffee breaks
  • Speed networking

Student ticket – 121 EUR

  • Full access to all conference sessions
  • Access to demo area
  • Сoffee breaks
  • Speed networking

A valid student ID should be presented at check-in. No refunds on the day of the event.

Buy Your ticket Now


Blockchain & Bitcoin Conference Stockholm is a part of the series of Blockchain World Events held in 25 countries. The organizer is Smile-Expo International Company.

events around the globe

Continue Reading

Trending