Are we in danger with Swiss brokers?

You ask them! I sent them this question:

'' Hello

I am forex trader and i have 500 000$ with Suiss broker, and i heard that the Suiss regulation will change and will require brokers to get bank license

Will you please provide me with more information about new regulation

Best regards,
 
scexglobal


ssss,

First, have you ever traded with dukascopy? If not, how can you judge them? All Swiss brokers are bad by default?
******************************************

No ,author not traded ducascopy and not interessed to plan
this kind of activity.

Grounds -To date information ,which author received from communication wit hdifferent Swiss authority stated
that SWISS SPOT FOREX market is not regulated

All another without any matter for author ,but author would
send request to EBK today
 
If answer would received ,would ressend to ET
****************************************

Mon, 31 Mar 2008 8:37 PM ( < 1 min ago ) Text view
Print view
From ssss
To simone.flach@ebk.admin.ch [Add]
Subject SPOT FOREX MARKET REGULATION in SCHWEIZ Show full header

Sehr geehrte Damen und Herren

Letzte Jahr Autor hat befragt Sweize Behörde betreff
Regulation in Sweize Forex spot market in Sinn

Beschwerde -individuelle Kunde gegen SPOT FOREX Broker

Autor hat gekriegt unzweideutige Antwort ,das EBK ist nicht
zustdndig für Beschwerde in SPOT FX market .

Diese Jahr wurde untenfolgende Information publiziert.*

Köhnen Sie bitte sagen ,welche Schweize Regierungs Behörde werden(wenn |berhaupt ) zustdndig f|r Beschwerde von Kunden gegen Broker in SPOT FOREX MARKET ,wie in USA -CFTC ,In Deutschland -BAFIN

Autor wird sehr dankbahr für Antwort
*********************************************
Starting April 1, 2008 foreign exchange trading including the acceptance
of deposits from the public on a professional basis becomes a privilege
of authorised banks only.

For a overview on the coming change in the regulation of forex dealers
we would like to refer to the publication on the website of the Federal
Department of Finance in German French and Italian (
http://www.efd.admin.ch/aktuell/med...de&msg-id=17808).

We hope that we were able to help yaou further.

Yours sincerely

Secretariat of the
SWISS FEDERAL BANKING COMMISSION


sig. Christina B|rgi sig. Simone Flach
Communication&Media Communication&Media

Schwanengasse 12
P.O. Box
CH-3001 Berne
Phone +41 31 322 60 69
Fax +41 31 322 69 26
mailto:simone.flach@ebk.admin.ch
http://www.ebk.admin.ch

--
Yours respectfully ssss
 
Händler, deren Tätigkeit auf die Abwicklung von Kassageschäften in Devisen (Forex), Edelmetallen oder Rohstoffen beschränkt ist, unterstehen keiner Aufsicht durch die EBK. Kassageschäfte liegen vor, wenn die Händler die Netto-Positionen ihrer Kunden für jede angebotene Devise, jedes Edelmetall oder jeden Rohstoff vollständig und dauernd absichern (Spiegelung).

http://www.ebk.admin.ch/d/faq/faq2.html
 
look maybe your EBK is playing games on our lives? I don't want to risk my 500K. Swiss laws have two faces in my opinion. They can say one thing and do another. Do I want to end up with the freeze of my 500K ? No! that is money I cannot afford to lose. I say good bye Swiss companies and hello any bank! I will not deposit with NFA Brokers as well. In my opinion big banks are lobbying the government to get rid of Brokers since Banks now have the technology to offer to retail and they see that a big chunk of their profit goes to brokers. Anybody who is smart should consider this at least for some period of time in my opinion is save to be with banks if you can of course. But I trade on MT and It is hard to find Bank with MT. I have account with Varengold when they used to be Finex and they offer MT.
 
Quote from Gerbartus:

look maybe your EBK is playing games on our lives? I don't want to risk my 500K. Swiss laws have two faces in my opinion. They can say one thing and do another. Do I want to end up with the freeze of my 500K ? No! that is money I cannot afford to lose. I say good bye Swiss companies and hello any bank!
More...
You're certainly not alone, I'd say many traders are echoing this sentiment with what is going on today. Makes the bank guarantee option offered at Duka all the more appealing. It's unfortunate that other brokers (US-based) don't offer something similar to that.
 
....I am forex trader and i have 500 000$ with Suiss broker

With 500k$ ask on ET?


Very doubt ... Trader with 500 k$ must knew all in he*s field .


But give you a suggest,which to date suspect to be best from fund protection perspective , but from author not tested with real money ...

http://eu.hotspotfx.com/open-an-account/client-money-protection/

but it is offered only for EU clients ,not for USA .Possibly you must
discuss legal matter very deep with London and NY office .


Platform is ECN ,good but not have reserved html and java version for heavy network conditions (AMTD ,OXPS ,SWIM
in stock and options offer 3 versions)

Demo version with real quote ,paper money you can ask
without charge

but you can ask by www.currenex.com(technology provider)
possibly this found some for you ,if case is true ,that you are trader with 500 k$

Your respectfully


P.S. Author is not payed agent by any broker and to date not involved in forex spot trading. Opinon of the author possible not suited for another*s
 
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