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Are we in danger with Swiss brokers?
- Thread starter Gerbartus
- Start date
ITR2744
I am currently finishing my Master degree in Law @ university of Zurich. So, if you have any questions concerning SWISS LAW, feel free to ask!
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Dear Sir
That is very good ,but in real life author like experienced
invesigator ,as example Chief of Derivative Department
of BAFIN(Germany SEC) of all Germany . After 40*s years old
with solid experience and power (!) . Not professor abstract point of view ...
Your respectfully
I am currently finishing my Master degree in Law @ university of Zurich. So, if you have any questions concerning SWISS LAW, feel free to ask!
*******************
Dear Sir
That is very good ,but in real life author like experienced
invesigator ,as example Chief of Derivative Department
of BAFIN(Germany SEC) of all Germany . After 40*s years old
with solid experience and power (!) . Not professor abstract point of view ...
Your respectfully
From what I read, the Swiss financial regulatory people are making efforts to improve things. But if the state of a new broker called Allecohfx (http://www.aleccohfx.com/) is anything to go by, they have a long way to go. These guys lost control of all of the customers funds 1-2 months ago but didn't feel it necessary to mention it to anyone! Currently there is ellegedly a courtcase in progress to recover the funds...
This level of hypocrisy is put into perspective by visiting their website - despite the above, the 'Funds Safety' info, dead-center of the main page, has been left intact, though they have taken the time to edit the information detailing an increase on the minimium opening account size...
This level of hypocrisy is put into perspective by visiting their website - despite the above, the 'Funds Safety' info, dead-center of the main page, has been left intact, though they have taken the time to edit the information detailing an increase on the minimium opening account size...
dear sssssssss please be objective and let other people make their choices.
It is naïve to think that other platforms donât have ability to manipulate with market process. Platforms just like cars have their engines . They are made for making market price. What is matter that who runs the car a bucket shop or a prestigious institution.
and I can suggest people from my experience of trading that MT is one of the best out there. Currenex is for bigger guys.
It is naïve to think that other platforms donât have ability to manipulate with market process. Platforms just like cars have their engines . They are made for making market price. What is matter that who runs the car a bucket shop or a prestigious institution.
and I can suggest people from my experience of trading that MT is one of the best out there. Currenex is for bigger guys.
Quote from Gerbartus:
dear sssssssss please be objective and let other people make their choices.
It is naïve to think that other platforms donât have ability to manipulate with market process. Platforms just like cars have their engines . They are made for making market price. What is matter that who runs the car a bucket shop or a prestigious institution.
and I can suggest people from my experience of trading that MT is one of the best out there. Currenex is for bigger guys.
With respect, there is a world of difference between a broker platform such as InteractiveBrokers (of which I am a customer) that make the bulk of their earnings through commissions, and Metatrader - a platform that costs prospective brokers $100,000 and has ongoing revenue per-trade payments to its creator Metaquotes. Brokers that are prepared to accept this hefty pricing arrangement do so for a reason - it is an open secret that this is one of the most corrupt platforms around with a suite of available 'plugins' that widen spreads, spike stops, freeze feeds etc. etc. Also, try posting a question regarding these plugins on Metaquotes forum will result in you being instantly Banned, without comment - what does that say?...
No reputable broker would resort to tactics like these - at least not to the extent of purchasing a platform that is specifically designed to do this!
and I can suggest people from my experience of trading that MT is one of the best out there. Currenex is for bigger guys.
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That above was wroten from trader ,which stated that have 500 k$ capital (hotpotfx account minimum 7500$ and possible lower )
Best wish ...
********************************************
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That above was wroten from trader ,which stated that have 500 k$ capital (hotpotfx account minimum 7500$ and possible lower )
Best wish ...
Quote from omelette:
With respect, there is a world of difference between a broker platform such as InteractiveBrokers (of which I am a customer) that make the bulk of their earnings through commissions, and Metatrader - a platform that costs prospective brokers $100,000 and has ongoing revenue per-trade payments to its creator Metaquotes. Brokers that are prepared to accept this hefty pricing arrangement do so for a reason - it is an open secret that this is one of the most corrupt platforms around with a suite of available 'plugins' that widen spreads, spike stops, freeze feeds etc. etc. Also, try posting a question regarding these plugins on Metaquotes forum will result in you being instantly Banned, without comment - what does that say?...
No reputable broker would resort to tactics like these - at least not to the extent of purchasing a platform that is specifically designed to do this!
Exactly, Metatrader was designed to rip off traders
http://www.elitetrader.com/vb/showthread.php?s=&threadid=118174&perpage=6&pagenumber=1
Quote from fluttrader:
Exactly, Metatrader was designed to rip off traders
http://www.elitetrader.com/vb/showthread.php?s=&threadid=118174&perpage=6&pagenumber=1
It's a sad endightment that the almost-toothless NFA (if their track record is any indication) even allows brokers to setup these operations in the first place!
Of course, it would be naieve to assume that "fair-play" had any hand in this - the NFA tends to take action only when it needs its coffers replenished... Hopefully, raising their financial minimiums will see off at least some of the vermin.
Tue, 1 Apr 2008 1:50 PM ( 42 mins 59 secs ago ) Text view
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From "Flach Florey Simone EBK" <Simone.Flach@ebk.admin.ch> [Add]
To ssss
Subject AW: SPOT FOREX MARKET REGULATION in SCHWEIZ Show full header
Dear Mr ssss
The Swiss Federal Banking Commission (SFBC) is the supervisory authority for banks, securities dealers and collective investment schemes in Switzerland. 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. Existing forex dealer have a transition period of one year to get conform to the new regulation. A list of authorised institutions is available on our website.
Nevertheless are complaints of individual customers only examined by the SFBC under the limited aspect whether a bank has violated provisions of the Banking Law or failed to fulfil the licensing conditions. At this point we would like to inform you that it is, however, the SFBCs policy to conduct its inquiries on a confidential basis in order to preserve the integrity of its investigative process. In cases where the SFBC finds violations or other irregularities, it will take the necessary measures to correct the situation. By law, the SFBC is not authorized to transmit information to third parties about any action taken against perpetrators.
The SFBC does not have the authority to resolve problems of private law arising directly out of the business relationship between an individual customer and a financial institution. For any assistance regarding a conflict between an authorised bank and a customer you may contact the Swiss Ombudsman, Bahnhofplatz 9, P.O.Box, CH-8021 Zurich , phone + 41 43 266 14 14, fax +41 43 266 14 15. Although he has no power of jurisdiction he gives information and may propose a settlement. The proceedings are free of charge.
As you see, we cannot really assist but we are always interested in information about supervised institutions.
Secretariat of the
SWISS FEDERAL BANKING COMMISSION
sig. Christina Bürgi 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
Print view
From "Flach Florey Simone EBK" <Simone.Flach@ebk.admin.ch> [Add]
To ssss
Subject AW: SPOT FOREX MARKET REGULATION in SCHWEIZ Show full header
Dear Mr ssss
The Swiss Federal Banking Commission (SFBC) is the supervisory authority for banks, securities dealers and collective investment schemes in Switzerland. 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. Existing forex dealer have a transition period of one year to get conform to the new regulation. A list of authorised institutions is available on our website.
Nevertheless are complaints of individual customers only examined by the SFBC under the limited aspect whether a bank has violated provisions of the Banking Law or failed to fulfil the licensing conditions. At this point we would like to inform you that it is, however, the SFBCs policy to conduct its inquiries on a confidential basis in order to preserve the integrity of its investigative process. In cases where the SFBC finds violations or other irregularities, it will take the necessary measures to correct the situation. By law, the SFBC is not authorized to transmit information to third parties about any action taken against perpetrators.
The SFBC does not have the authority to resolve problems of private law arising directly out of the business relationship between an individual customer and a financial institution. For any assistance regarding a conflict between an authorised bank and a customer you may contact the Swiss Ombudsman, Bahnhofplatz 9, P.O.Box, CH-8021 Zurich , phone + 41 43 266 14 14, fax +41 43 266 14 15. Although he has no power of jurisdiction he gives information and may propose a settlement. The proceedings are free of charge.
As you see, we cannot really assist but we are always interested in information about supervised institutions.
Secretariat of the
SWISS FEDERAL BANKING COMMISSION
sig. Christina Bürgi 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
....As you see, we cannot really assist but we are always interested in information about supervised institutions.
Secretariat of the
SWISS FEDERAL BANKING COMMISSION
###############################
http://www.youtube.com/watch?v=FGPSnB93vo4
Secretariat of the
SWISS FEDERAL BANKING COMMISSION
###############################
http://www.youtube.com/watch?v=FGPSnB93vo4