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.
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Thread: Resolved - Forex-Swiss.com
04-02-2009, 11:19 AM #1
Resolved - Forex-Swiss.com
04-02-2009, 07:56 PM #2
09-29-2009, 02:40 PM #3
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 from quoted price" feature combined with "Maximum =0 pips". Therefore, all executions mentioned above are illegal.
Do yourself a favour and stay well away from this brokerage.
01-01-2010, 09:47 AM #4
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.
Last edited by hm_meier; 01-01-2010 at 08:39 PM. Reason: URL correction
01-02-2010, 01:30 AM #5
01-03-2010, 06:58 AM #6
01-04-2010, 09:57 AM #7
01-04-2010, 10:48 AM #8
Not all brokers are bad, but Forex-Swiss went to the effort to get itself labeled as a Scam by the FPA.
Forex-Swiss.com found a new way to grab money from traders
These people even threatened to bill the FPA for placing a scam finding against them. The bill hasn't arrived yet.
Assistant Undersecretary for Moderation
Everything in excess! To enjoy the flavor of life, take big bites. Moderation is for monks!
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06-27-2010, 09:25 PM #9
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.
10-12-2012, 02:18 PM #10
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