⚡ Swissquote Has a 12-Fold Asset Gap Inside Its Account Base

Swissquote’s 1.2 million accounts mask a significant revenue risk, according to new FM Intelligence analysis. The mobile app Yuh, which Swissquote fully consolidated in July 2025, now represents 423,409 accounts—roughly 35 percent of the total client base—but holds just CHF4.01 billion in assets, only 4.2 percent of the firm’s total. The average Yuh account carries CHF9,480, compared to CHF115,700 in legacy Swissquote accounts, a 12-fold gap that raises questions about the quality of user acquisition ahead of 2028 revenue targets of CHF950 million and pre-tax profit of CHF500 million. Swissquote has not disclosed Yuh’s standalone profit contribution for H1 2026, leaving analysts unable to determine whether newer relationships are converting into funded, revenue-generating accounts at the pace required to meet ambitious growth targets set for 2028.

FXnCO Insight

Traders evaluating Swissquote exposure should demand segment-level economics and cohort funding data before accepting headline account growth as evidence of business momentum.

Source: Finance Magnates