SwissFxBroker.ch Review
2.081 •
4 REVIEWS
Out of business
Updated: Apr 13, 2022
•
Website is now pointed to a parking page. Company appears to be out of business.
Out of business
2.081 •
4 REVIEWS
Recent User Reviews of SwissFxBroker.ch
R
Randall Behrns
United States,
Aug 24, 2009,
Guest
This is one of the worst brokers you could find- read my story
About 3 to 4 months ago, I opened an account with Swissfxbroker.ch while they still were in Switzerland. They are an ECN (electronic communications network) forex trading firm and the program I wanted to run, FAPTurbo, would run on their metatrader (MT4) trading platform. I wired over $2500 USD to trade and trial their platform. Well, after a week of trial, I decided the program just would not run successfully on an ECN My account balance at this time was 2280 USD. I placed 25-30 trades total,only trading 10,000 lots of the EUR/GBP, EUR/CHF, and GBP/CHF currency pairs exclusively. At this time, I decided to close the account and work with a non ECN forex firm, Alpari, here in the United States. Incidentlally, the FAPTurbo program runs very well here at Alpari.
Well, after deciding to close my account with swissfxbroker.ch, I disengaged the FAPTurbo program and made absolutely certain it would no longer be able to place trades. I even checked my account daily to make sure everything was ok. But then a funny thing happened, after I requested the account to be closed at the end of April, I could no longer bring up my account on line with them. I didn't worry too much about this, since I thought they were shutting the account down and the money would be shorty sent. Well, they didn't send my money and then they started asking for things like the original paperwork application which I sent to them. Weeks went by and nothing happend. They repeateldly told me the money was safe with them and would be forthcoming. They also said they were in the process of moving to Cyprus and to be patient with them, which I was. But finally at the end of June, I sent them another email requesting my money. I got no response until a few days later on July 2, I get my very first statement of any kind from them and it shows a balance of only $170 in the account. My trades were there for the 10,000 lots I had placed, but there was one trade that showed up for a mysterious trade of a 2,000,000 lot in the EUR/CHF pair which showed a loss of over 2,000 USD bringing the account balance from 2280 to 170 USD. First of all, I had the progam shut down and made absolutely certain the program was not running and fully deacitivated. Secondly, I only traded lots of 10,000 never would I trade 2,000,000. Thirdly this mysterious trade is absolutlely impossible due to the margin and maintenance margin requirements. To initiate a trade of such size would have required an initial margin in the account of 2,000, but then if the trade went bad asthey say,the maintenance margin required would have forced the trade to close. Instead they show it conveniently going to 170. Impossible.
They claim the Expert Advisor in the metatrader platform made this trade in my account. This just isn't possible,bcause as I explained earlier I had the program shut down and checked it daily to make certain. The whole circumstances and situation reeks of fraud. They even claim I am trying to scam them.I just can't believe they would conduct themselves like this. No communication from them, cutting me off from their platform, not sending any statements or emails , not sending the money and then finally getiing a statement with a huge trade that went bad is all impossible. I went to the Swedish Authorities and they recommended a civil suit, but since the amount of money is rather small, by most lawyers requirement, I decided to contact you to get your help. Perhaps you can do something with these people- they feel they are above the law. Any future forex trader needs to be warned to stay away from this outfit.
Sincerely,
Randy Behrns
About 3 to 4 months ago, I opened an account with Swissfxbroker.ch while they still were in Switzerland. They are an ECN (electronic communications network) forex trading firm and the program I wanted to run, FAPTurbo, would run on their metatrader (MT4) trading platform. I wired over $2500 USD to trade and trial their platform. Well, after a week of trial, I decided the program just would not run successfully on an ECN My account balance at this time was 2280 USD. I placed 25-30 trades total,only trading 10,000 lots of the EUR/GBP, EUR/CHF, and GBP/CHF currency pairs exclusively. At this time, I decided to close the account and work with a non ECN forex firm, Alpari, here in the United States. Incidentlally, the FAPTurbo program runs very well here at Alpari.
Well, after deciding to close my account with swissfxbroker.ch, I disengaged the FAPTurbo program and made absolutely certain it would no longer be able to place trades. I even checked my account daily to make sure everything was ok. But then a funny thing happened, after I requested the account to be closed at the end of April, I could no longer bring up my account on line with them. I didn't worry too much about this, since I thought they were shutting the account down and the money would be shorty sent. Well, they didn't send my money and then they started asking for things like the original paperwork application which I sent to them. Weeks went by and nothing happend. They repeateldly told me the money was safe with them and would be forthcoming. They also said they were in the process of moving to Cyprus and to be patient with them, which I was. But finally at the end of June, I sent them another email requesting my money. I got no response until a few days later on July 2, I get my very first statement of any kind from them and it shows a balance of only $170 in the account. My trades were there for the 10,000 lots I had placed, but there was one trade that showed up for a mysterious trade of a 2,000,000 lot in the EUR/CHF pair which showed a loss of over 2,000 USD bringing the account balance from 2280 to 170 USD. First of all, I had the progam shut down and made absolutely certain the program was not running and fully deacitivated. Secondly, I only traded lots of 10,000 never would I trade 2,000,000. Thirdly this mysterious trade is absolutlely impossible due to the margin and maintenance margin requirements. To initiate a trade of such size would have required an initial margin in the account of 2,000, but then if the trade went bad asthey say,the maintenance margin required would have forced the trade to close. Instead they show it conveniently going to 170. Impossible.
They claim the Expert Advisor in the metatrader platform made this trade in my account. This just isn't possible,bcause as I explained earlier I had the program shut down and checked it daily to make certain. The whole circumstances and situation reeks of fraud. They even claim I am trying to scam them.I just can't believe they would conduct themselves like this. No communication from them, cutting me off from their platform, not sending any statements or emails , not sending the money and then finally getiing a statement with a huge trade that went bad is all impossible. I went to the Swedish Authorities and they recommended a civil suit, but since the amount of money is rather small, by most lawyers requirement, I decided to contact you to get your help. Perhaps you can do something with these people- they feel they are above the law. Any future forex trader needs to be warned to stay away from this outfit.
Sincerely,
Randy Behrns
M
mike
GB,
Aug 3, 2009,
Guest
SwissFxBroker.ch is an official scam (placing fake trades, not returning deposits). The claim to FPA was applied.
S
Stanley
Switzerland,
Mar 1, 2009,
Guest
I would like to comment about this Trader called Antonio Garcia.
I have never seen such a foolish trader like hes is. He started trading with us few weeks ago, Using an EA called Fractals, which he hasn`t tested on demo, and started trading the robot on his Live account, thereby deviating from his initial plan of using an EA called Fapturbo, of which we have 1000+ traders using it.
The EA placed 6 Trades with 5 wins and 1 DD, which was as a result of large Lot size. then he became furious and requested a withdrawal, on thursday 29-02-2009, thereafter he or His EA Placed the 7th Trade , which he left unattended, closed his platform, and left the trade on the mercy of marginal call.so his account was disabled in other for the ea not to place more trades. why He has already Requested for withdrawal
As a result The balance of his account was different from His Initial deposit... on this note He was informed to resend his withdrawal request....up till now we have not seen the request, and he is asking for payment during weekends.
THE EMAIL RECEIVED FROM ANTONIO GARCIA:
From: Antonio Garcia
Sent: Donnerstag, 26. Februar 2009 04:21
To: contact@swissfxbroker.ch
Subject: RE: redemption form- wire transfer
Mr. Awunol please. If you withdraw and wire my money back to me I will not post any bad publicity towards you or your firm. I simply want my modest amount back. If you return my $5019.95, I will not do anything back in return and we will simply call it even. but please you must have a heart and understand that we are in a tough position and this is the only money I have to invest. I am trying to help my family. Please do the honorable thing sir. I will then only have praise for you and will post in ForexPeaceArmy a positive on SwissFxBroker. Thank you.
OUR RESPOND TO HIS EMAIL REQUEST:
From: contact [mailto:contact@swissfxbroker.ch]
Sent: Donnerstag, 26. Februar 2009 09:50
To: 'Antonio Garcia'
Subject: RE: redemption form- wire transfer
Well for your information, Mr Awunor is not working with us.
He is a partner in registering the company in Switzerland. You can write as many reviews you wish.
We have clients that have been using us for years now, and they will be glad to write reviews of our company.
It is funny the way you behave
I have never seen such a foolish trader like hes is. He started trading with us few weeks ago, Using an EA called Fractals, which he hasn`t tested on demo, and started trading the robot on his Live account, thereby deviating from his initial plan of using an EA called Fapturbo, of which we have 1000+ traders using it.
The EA placed 6 Trades with 5 wins and 1 DD, which was as a result of large Lot size. then he became furious and requested a withdrawal, on thursday 29-02-2009, thereafter he or His EA Placed the 7th Trade , which he left unattended, closed his platform, and left the trade on the mercy of marginal call.so his account was disabled in other for the ea not to place more trades. why He has already Requested for withdrawal
As a result The balance of his account was different from His Initial deposit... on this note He was informed to resend his withdrawal request....up till now we have not seen the request, and he is asking for payment during weekends.
THE EMAIL RECEIVED FROM ANTONIO GARCIA:
From: Antonio Garcia
Sent: Donnerstag, 26. Februar 2009 04:21
To: contact@swissfxbroker.ch
Subject: RE: redemption form- wire transfer
Mr. Awunol please. If you withdraw and wire my money back to me I will not post any bad publicity towards you or your firm. I simply want my modest amount back. If you return my $5019.95, I will not do anything back in return and we will simply call it even. but please you must have a heart and understand that we are in a tough position and this is the only money I have to invest. I am trying to help my family. Please do the honorable thing sir. I will then only have praise for you and will post in ForexPeaceArmy a positive on SwissFxBroker. Thank you.
OUR RESPOND TO HIS EMAIL REQUEST:
From: contact [mailto:contact@swissfxbroker.ch]
Sent: Donnerstag, 26. Februar 2009 09:50
To: 'Antonio Garcia'
Subject: RE: redemption form- wire transfer
Well for your information, Mr Awunor is not working with us.
He is a partner in registering the company in Switzerland. You can write as many reviews you wish.
We have clients that have been using us for years now, and they will be glad to write reviews of our company.
It is funny the way you behave
A
Antonio
miami,
Mar 1, 2009,
Guest
Take a look in the SCAM sections and see my screenshot. You can CLEARLY see the market was never that high during my trading. I use FapTurbo EA changing it's name to FRACTALS to hopefully not draw attention from price manupulators. I wrote to them hopefully to draw some reason. If they would have returned my money which they STOLE, I would have praised them for it but they have refused and want to continue to swindle. BE WARNED ALL.
G
gonz.
Santo Domingo,
Mar 1, 2009,
Guest
Honest broker and not a scam. Thumbs Up for them !
I have been using them without no problem for the past 6 months , even in the withdrawal process.
I have been using them without no problem for the past 6 months , even in the withdrawal process.
A
Antonio Garcia
Miami,
Feb 27, 2009,
Guest
I have just had $5,545.17 stolen from me by SwissFxBroker.ch I don't know what to do. From the first day of trading they magically put in a different number into MT4 from what my EA took- 31 pips above! I was in immediate drawdown of over $800. I had to close it out. I sent in a redemption request and they told me that my EA continued to place bad trades and I was margined out. Eventhough I never had any open position and MT4 was closed the whole day. I found out now that Tony Awunol owns this company and he is a scam artist assoc. also with TradeOracle.ch They won't give me a balnce for the past 3 days and I believe they will not return my funds.PLEASE HELP!!