Swissquote Revenue Dominance Driven by Swiss Traders

Swissquote revenue dominance driven by Swiss traders reflects strong domestic market reliance despite slower global expansion. Nearly 84% of Swissquote’s revenue in H1 2025 originated from Switzerland, with only a minimal portion coming from the rest of Europe. Meanwhile, the broker is making inroads in the Middle East and Asia-Pacific regions.

Swissquote Revenue Dominance Sustained Despite Forex Decline

From a total operating income of CHF 359.2 million, Swissquote generated CHF 265.2 million through securities trading in Switzerland and CHF 35.8 million via leveraged forex activity by Swiss customers.

Across other European markets, securities trading brought in CHF 26.2 million, while leveraged forex contributed a mere CHF 248,770.

Outside Europe, Switzerland still outshines other regions. In the Middle East, the platform earned CHF 19.6 million from securities trading and CHF 4.5 million from leveraged forex. From the Asia-Pacific, CHF 6.2 million came from securities lending and CHF 1.2 million from leveraged forex.

Overall, eFX and CFDs accounted for almost 12% of total revenue. While Swiss securities trading revenue grew by almost 18%, income from leveraged forex dropped more than 10%, with declines recorded across all regions, including Switzerland.

Europe’s Share Continues to Shrink

Swissquote has consistently been a Switzerland-centric platform, despite its global footprint. The contribution of Europe (excluding Switzerland) to leveraged forex revenue is steadily decreasing.

Over the past six months, only around 0.6% of leveraged forex revenue came from Europe outside Switzerland, down from 2.5% in 2020 and 1.8% in 2022.

Although leveraged forex income from Swiss clients has also declined over the years, its proportion of the total remains relatively stable.

In H1 2025, Swissquote onboarded 58,000 new accounts, pushing the total number to over 700,000. The broker, however, did not reveal the regional distribution of these accounts.

Swissquote’s latest figures highlight its enduring reliance on Swiss clients, with international markets contributing only marginally despite steady account growth. While the broker is expanding in the Middle East and Asia-Pacific, the shrinking share of European revenue outside Switzerland underscores the challenge of diversifying its income base. The drop in leveraged forex earnings across all regions suggests shifting trader preferences, making it clear that Swissquote’s future growth will depend on successfully strengthening its global presence while maintaining its dominant home market position.

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