Swissquote, Switzerland’s leading online trading platform, remains deeply reliant on its domestic market, as its H1 2025 financial report reveals. Out of the company’s CHF 359.2 million total operating income, CHF 265.2 million originated from securities trading within Switzerland, and CHF 35.8 million came from leveraged forex activities by Swiss clients. This demonstrates the platform’s strong foothold in its home country but raises questions about its ability to expand significantly in other markets.
Revenue from other European countries continues to decline, with only CHF 248,770 generated from leveraged forex trading in the region during H1 2025—a tiny fraction compared to Switzerland’s contribution. Likewise, Swissquote’s revenue from its Middle East and Asia-Pacific markets is comparatively small. For instance, traders in the Middle East contributed CHF 19.6 million from securities trading and CHF 4.5 million from leveraged forex trading, while Asia-Pacific produced CHF 6.2 million from securities lending and a mere CHF 1.2 million in leveraged forex revenue.
Interestingly, while securities trading revenue in Switzerland grew by 18 percent, the income from leveraged forex trading saw a marked decline across all regions, including Switzerland. The share of European leveraged forex revenue has slid further, representing only 0.6 percent of Swissquote’s total revenue, compared to 2.5 percent in 2020 and 1.8 percent in 2022. This trend underscores the platform’s challenge in attracting and retaining leveraged forex traders outside its domestic market.
Despite these regional hurdles, Swissquote continues to grow its overall customer base, adding 58,000 new accounts in H1 2025 and bringing the total number of accounts to more than 700,000. As the company expands its global footprint, focusing on emerging markets like the Middle East and Asia-Pacific may help offset declines in European leveraged forex trading, opening up new opportunities for revenue diversification.
