Swissquote review

Nine FCA permissions, the widest set in this series: custody, discretionary investment management and the operation of personal pension schemes, all naming retail clients. The UK entity was called MIG Capital (Europe) Limited until 2014, and three of the group's Malta companies now read No longer authorised.

Last verified 25 August 2026 · how we check

The permission list on this record does not look like a retail FX broker. That is the finding, and it changes what the account actually is.

What the registers return

Companies House number 07710095.

Nine permissions, and three of them are unusual here

Every other firm in this series holds five to eight permissions, and they cluster around dealing and arranging. This record carries nine, including three that no other broker we have checked holds:

Managing investments is discretionary management: the firm may make decisions on a client’s behalf rather than only executing theirs. Establishing, operating and winding up a personal pension scheme is pensions administration, and its investment type list names personal pension schemes, government and public securities, debentures and warrants.

These are not CFD permissions. They describe a firm that can hold your assets, manage them for you, and run your pension, and each of the first two names retail clients explicitly.

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Breadth is not a recommendation. A firm may hold a permission and never sell that product to you, and the account you actually open is defined by the client agreement rather than by the register. What the list tells you is what the supervisor has examined the firm against, and pensions and discretionary management are examined against materially stricter standards than execution-only dealing.

The UK entity used to be called something else

The register records the current name from 13 February 2014, and before that, from the authorisation date of 2 May 2012, the same FRN carried the name

MIG Capital (Europe) Limited

That is the third renaming we have found in these reviews, after ThinkMarkets, whose Cyprus entity is listed as ex A-Conversio Capital Ltd, and OANDA, which traded as FXTrade until 2021.

The practical point is the same each time and it is worth repeating because marketing depends on it: the licence date belongs to the licence, not to the brand. An authorisation effective from 2012 can sit under a name adopted in 2014, and “regulated since 2012” is then true of the registration and not of the company as you know it.

Renamings across the series, in one place

Four of the firms we have reviewed trade under a name their licence was not issued to. The pattern is common enough to be worth a table rather than a remark.

None of these is improper. Companies are bought, merged and rebranded, and the regulator records the change rather than hiding it.

What they have in common is the effect on a reader. A licence effective from 2012, a company incorporated earlier still, and a brand launched later all get compressed into one sentence on a marketing page, and that sentence is usually “regulated since”. The register keeps the three facts separate, which is why we read it.

Two questions settle it in under a minute. When was the licence effective, and what was the entity called then? Both fields are on the same free page.

Three Malta entries read No longer authorised

The register holds two entries for Swissquote Financial Services (Malta) Ltd and one for Swissquote Europe Ltd, all marked No longer authorised.

We flagged the same shape at Tickmill: a status of “no longer authorised” against a European entity is usually the ordinary post-Brexit outcome rather than an enforcement event, because passporting arrangements ended and the UK records closed. Three of them in one group is more housekeeping than most, and the register does not state the reason in any of the cases.

The live European licence is the Cypriot one, Swissquote Capital Markets Limited, CySEC 422/22, which carries the Investor Compensation Fund for EU clients.

What the licences cap and cover

Retail leverage under both the FCA and CySEC is capped at 30:1 on major FX with lower limits by asset class, per leverage limits by regulator.

Compensation differs by entity: the FSCS behind the UK company for eligible claimants, the ICF behind the Cyprus company. Nothing in Australia, so an Australian client is served by neither.

What to establish before funding

Which entity your client agreement names, since the group runs UK, Cypriot and other companies and the protections differ.

Which product you are actually buying. A firm licensed for custody, discretionary management and pensions may still sell you an execution-only CFD account, and the protections attached to that account are the CFD ones.

Whether any part of the arrangement is discretionary. Managing investments means someone else may trade your account, and that is a different relationship from a trading platform.

The all-in cost on your account type. Register entries say nothing about price, and price is where authorised brokers differ most.

What we checked, and what we didn’t

We read the full FCA register record for FRN 562170 including all nine permissions with customer types and investment types, the previous-name history, and the entries for the group’s Malta and Europe companies, plus the CySEC and ASIC registers we hold locally, all on 25 August 2026.

The firm’s own site blocked automated access, so account specifics are left unstated rather than taken from third-party reviews. We have not established why the Malta authorisations ended; the register records the status and not the reason.

We have not opened an account, deposited money, or tested spreads, execution, support or withdrawals. caution is our default where we have not been a client; the registers raised nothing against this firm.

Sources

• FCA — Financial Services Register, FRN 562170
• CySEC — register of Cypriot investment firms
• ASIC Financial Services Licensee Register