Forex Brokers in Switzerland

Forex brokers in Switzerland are regulated by the Swiss Federal Department of Finance.

Many opt to go with a Swiss banks for several reasons. Most associate Swiss banks with a long tradition of trustworthy banking practices and top notch banking secrecy laws.

Because of the concentration of banks in Switzerland (over 330 in 2007) and the long tradition, these banks get funds from all over the world, allowing for competitive rates and service fees, with outstanding quality and breadth of services.

The stable banking conditions stem form Swiss national sovereignty, long recognized by foreign nations, even though Switzerland is near Europe's geographical center.

This stability has been evident through ages, as Switzerland maintained neutrality through both World Wars, it is not a member of the European Union or the European Economic Area, or was not member of the United Nations until 2002.

However, you have to remember that the forex brokers are financial institutions which may or may not have other banking operations besides operating in the foreign exchange market.

Currency Exchange Brokers in Switzerland - Companies

The number of banks, as of 2007, was 331, and as of 2006, there were 408 authorized banks and securities dealers in total.

Of these, the two biggest have been UBS AG and Credit Suisse, accounting for over 50% of all deposits in Switzerland.

Due to their size and complexity, UBS and Credit Suisse have been subject to extra supervision from the Federal Banking Commission to maintain stability in the financial sector.

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