Swissquote vs TPFx Forex Broker Comparison
A head-to-head comparison of Swissquote and TPFx across regulation, trading costs, platforms, and editorial scoring.
Score 4.2 / 5
2 bonusesSwiss banking heritage with exceptional fund security, the broadest asset range in retail trading, and FINMA oversight - though minimum deposits are high.
VS
A fully BAPPEBTI-licensed and OJK-registered Indonesian broker, offering domestic traders compliant access to forex and commodity futures markets.
Our Verdict
Swissquote winsby 0.5 pts
Swissquote edges ahead with a score of 4.2/5 vs TPFx's 3.7/5. A narrow margin, so review the breakdown below to see where each broker has a clear advantage.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
TPFx offers tighter spreads from 1.5 pips vs 1.7 pips for Swissquote, reducing trading costs.
Best for safety & regulation
Recommended
Swissquote has a stronger safety profile: top-tier regulation, compensation scheme, segregated funds, negative balance protection.
Best for active traders
Recommended
TPFx has a cost edge: raw/ECN spreads, tighter spreads from 1.5 pips.
Best for platform choice
Recommended
Swissquote offers more exclusive platform options: MetaTrader 4, a proprietary platform.
Best for beginners
Recommended
Swissquote edges out TPFx with a higher editorial score (4.2/5 vs 3.7/5), indicating a stronger overall experience for new traders.
Swissquote vs TPFx: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.2/ 5 | 3.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.5 / 5▲ | 3.7 / 5 |
Fees & Spreads 30% weight | 3.9 / 5▲ | 3.7 / 5 |
Platforms & Tools 20% weight | 4.2 / 5▲ | 3.7 / 5 |
Customer Support 10% weight | 3.9 / 5▲ | 3.7 / 5 |
| Founded | 1996 | 2010 |
| Headquarters | Gland, Switzerland | Jakarta, Indonesia |
| Min deposit | $1,120 | $60 |
| Spreads from | 1.7 pips | 1.5 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 100:1 | 100:1 |
| Withdrawal fee | Free | Free |
| Regulators | FCA DFSA FINMA | BAPPEBTI OJK |
| Platforms | MetaTrader 4 Proprietary Web/Mobile MetaTrader 5 | Proprietary Web/Mobile MetaTrader 5 |
| Active bonuses | ||
| Visit broker | Visit Swissquote | Visit TPFx |
Swissquote vs TPFx Forex Broker Pros & Cons
Pros
Swiss banking heritage with FINMA regulation and bank-level fund security
Broadest multi-asset range including real stocks, bonds, and options
Listed on the Swiss stock exchange (SIX)
FCA and DFSA regulated for UK and UAE clients
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Proprietary trading platform available
Advanced charting tools included
Transparent pricing with clear cost disclosure
Phone support available
Multilingual customer support
Pros
BAPPEBTI-licensed and OJK-registered - full Indonesian regulatory compliance
OJK registration no. S-130/PM.02/2025 is publicly verifiable
Supports MetaTrader 5 alongside proprietary platform
Local Indonesian bank transfer funding with IDR accounts
Client funds held in segregated accounts
Raw spread account available
No deposit fees
No inactivity fee
Mobile trading app available
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Cons
Very high minimum deposit (CHF 1,000, approximately $1,120)
Spreads wider than ECN peers on standard account
Primarily suited to larger, more sophisticated accounts
Inactivity fee applies
No 24/5 live chat
Cons
Only available to Indonesian residents - no international clients
Higher minimum deposit than some domestic peers
Narrow product range limited to forex and commodity futures
No top-tier regulatory licence
No negative balance protection
No investor compensation scheme
Limited charting capabilities
Support available in limited languages
Swissquote vs TPFx: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
5
Swissquote
criteria wins
3
TPFx
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | Swissquote | TPFx |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Fail |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Fail |
| Compensation scheme (e.g. FSCS) | Pass | Fail |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Fail |
| Customer Support | ||
| 24/5 live chat | Fail | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Fail |
Swissquote vs TPFx: Frequently Asked Questions
Based on our independent editorial scoring, Swissquote ranks higher with a score of 4.2/5 vs 3.7/5 for TPFx. The best choice still depends on your individual trading needs; Swissquote and TPFx may each suit different trader profiles.
TPFx offers tighter spreads starting from 1.5 pips, compared to Swissquote's spreads from 1.7 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
TPFx has a lower minimum deposit of $60, while Swissquote requires at least $1120. This makes TPFx more accessible for traders with limited starting capital.
Swissquote holds top-tier regulation (FCA, DFSA, FINMA), providing stronger investor protections. TPFx may be regulated but does not hold top-tier status in our data. Always verify regulatory status with the broker directly before depositing funds.
For beginners: TPFx has a lower minimum deposit ($60), lowering the barrier to entry; Swissquote offers negative balance protection, capping losses at your deposit amount. Also weigh up educational resources and customer support quality before deciding.
Swissquote offers maximum leverage of 100:1, while TPFx offers up to 100:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
Swissquote supports MetaTrader 4, Proprietary Web/Mobile, MetaTrader 5 and TPFx offers Proprietary Web/Mobile, MetaTrader 5; both support Proprietary Web/Mobile, MetaTrader 5; Swissquote exclusively offers MetaTrader 4.
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Score 3.7 / 5
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