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Resolved - Forex-Swiss.com

Discussion in 'Resolved Issues' started by Wynand, Apr 2, 2009.

  1. Wynand

    Wynand Recruit

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    After starting a demo account and running it for 3 months I emailed the company in question to find out how the live and demo accounts differ. Their answer was "both are the same". I opened a live account but to my horror found just the opposite was true. On entering a transaction a few seconds later the price would drop between 12-20 pips against me. First of all I could not select lower than 1.0 lot transactions? I merely lost my account after 8 transactions and two evenings later. I emailed them about the lotsizes and then afterwards it all magically came right? On comparing it against my other live account the price was dropping while my other broker's price would be stable? Forex is already very risky without these 'extra' price spikes. The fact is live accounts do differ to some degree because of several market factors, but nothing like this.
    :unhappy::mad:
     

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  2. Pharaoh

    Pharaoh 1st Lieutenant

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    Sounds like typical "stupid broker tricks". Close your account, grab your money back, and warning everyone else is the best thing to do in these cases.
     
  3. Raimundas

    Raimundas Corporal

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    Orders executed with huge slippages

    Recently I tested this broker. I confirm the first post: live account and demo have two different quote-feeds and live quotes are manipulated (see the file: http://rapidshare.com/files/286650693/ManipulatedQuotes.xls ). Executions on live account takes 10 secs on average (see attached file "20090915.log.txt").
    Additionally, 7 of 11 my orders executed with huge slippages (see the attached file "SCAM.zip").
    By opening and by closing all my orders I used an "Enable maximum deviation from quoted price" feature combined with "Maximum deviation=0 pips". Therefore, all executions mentioned above are illegal.
    Do yourself a favour and stay well away from this brokerage.
     

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  4. hm_meier

    hm_meier Recruit

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    Hi,

    you used:

    DateTime
    Interbank_Ask
    Interbank_Bid
    FXCH_Ask
    FXCH_Bid
    Difference

    With "Interbank", is it "http://www.ibfx.com"?

    How did you got your minutes/seconds signals from both Interbank and FXCH?

    Please advise me, since I want to test this also with my broker.

    Many thanks.

    :)
     
    #4 hm_meier, Jan 1, 2010
    Last edited: Jan 1, 2010
  5. Raimundas

    Raimundas Corporal

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    Quotes

    No. It was quotes from "Saxobank"...

    These both quotes are collected by myself in Real-Time.
     
  6. hm_meier

    hm_meier Recruit

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    Could you please share with me the "software" to collect this "real-time" data, or explain me how to do it, in case it is just "mechanically" only.

    Many thanks.

    :)
     
  7. Sibali

    Sibali Corporal

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    Demo and live accounts can never be the same first thing. Close your account as soon as possible.
    Better to invest in futures. The brokers are more reliable and regulated. Forex brokers are like open sea. You are totally blind.
     
  8. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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  9. Scam Investigations Committee

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    We are happy to report that Forex-Swiss won't be billing the FPA. They have some new and improved policies.

    The scam finding against Forex-Swiss has been lifted. Click Here for more details.
     
  10. hazarder

    hazarder Private

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    Hello dear trader,
    I have problem whit FXCH and wont to know wher I can send complaint, becouse I call them in Swiss and they don't answer on phone.
    I sent meil end they answer somthing else crazy .....
     

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