Forex-Swiss.com

Wynand · (#1 (**permalink**))

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.

Pharaoh · (#2 (**permalink**))

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.

Raimundas · (#3 (**permalink**))

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.

hm_meier · (#4 (**permalink**))

Quote:

Originally Posted by Raimundas

(see the file: http:// rapidshare.com/files/286650693/ManipulatedQuotes.xls).

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.

Raimundas · (#5 (**permalink**))

Quote:

Originally Posted by hm_meier

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

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

Quote:

Originally Posted by hm_meier

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

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

hm_meier · (#6 (**permalink**))

Quote:

Originally Posted by Raimundas

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

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.

Sibali · (#7 (**permalink**))

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.

AsstModerator · (#8 (**permalink**))

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.

.

Scam Investigations Committee · (#9 (**permalink**))

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.