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I do not have any experience with this broker. If you have used them, please kindly submit your review above.
City Trader , UK
Rating:
Date of Post:
2009-05-07
Review:
2 words - STAY AWAY. Don't be deceived by the low spreads. All your orders are requoted after much delay - when the price has moved against you. When you want to close a trade, that again is delayed until the close price is well against you.
You can play with their demo. But please DO NOT OPEN ANY LIVE ACCOUNT WITH THIS BROKER.
I opened a buy trade GBPUSD at 149.28, for more than 20 minutes, the price movement on the Forex-Swiss chart did not go above 149.27, whereas on their demo account as well as on 4 other brokers, the price has moved well above 149.45. What do you call that.
Also, when I decided to close the trade, it took well over 45 seconds for their dealing desk to accept my request. Remember they claim there is no dealing desk.
You risk your well earned cash with this brokers. My advice to fellow traders is that only open LIVE accounts with brokers registered in the UK and US; and make sure they are regulated by these country governing bodies. In the UK it is the Financial Service Authority; and in the US it is the CFTC and the NFA.
Happy trading
wolfgang schiller, germany
Rating:
Date of Post:
2009-04-30
Review:
forex-swiss
they move the market against you more than 15 pips , also when you close a trade. that makes more than 30 pips in total !!
It is a scam, because they proclaim to deal direct without a dealing desp and a spread of 1 pip, which is fraud!
Wynand, United Kingdom
Rating:
Date of Post:
2009-04-02
Review:
Stay away.....final answer. After they emailed me and said that both demo and real accounts work the same I opened a live account....lost my account in 8 transactions over two evenings and price spikes several pips in wrong direction. When I did my first transaction I could not select lower than 1.0 lot trades before emailing them and then all was corrected! Beware........
Alex, Russia
Rating:
Date of Post:
2009-01-14
Review:
They didn`t returned my funds.
Johan, South Africa
Rating:
Date of Post:
2008-03-05
Review:
Stay away at all costs!! They really the most dishonnest broker out there, Nothing on there website is true; "no slippage, no re-quotes, fixed spread" all this is false. If you tried to do a trade, they will deal 15 pips agaianst you, It only took me one week of trading to realize they are bad.
This company repairs it server while you trade,whith out warning me as the trader. I was not allowed to exit my trades on the metatrader FXCH. The no connection icon was
on for several hours,while I had live trades on. This company will requote and requote while you lose your position. It will give imediate close on losing trades. I took the same trades with metatrader from another company at the same time., easly getting in and of trades. There customer service is not live. I have left numerous e-mails with no answer, They have not refunded any of the loses.
The london phone # is a recording.
Please don't throw your money into this money pit. I drop the rating of this from scam to scum.
Vlade, AUS
Rating:
No Rating
Date of Post:
2008-01-01
Review:
Today I received an email message from Panafex:
I am sending you originaly. FYI also I noticed that on forex-swiss.com website, they changed the platform to MQ4, could be better or No, we shall see:
-------------------------------------------
TO: Whom It May Concern
FROM: PANAFEX EXCHANGE
Legal Compliance Department
145-157 St John Street, 2nd Floor,
EC1V 4PY, London, United Kingdom
DATE: December 27, 2007
RE: FXCH membership TERMINATION
Please note that Foreign Exchange Clearing House (FXCH) is no longer a member of PANAFEX EXCHANGE due to a cease-and-decease order of PANAFEX LEGAL COMPLIANCE DEPARTMENT for the following reasons:
- Clearing Violations
- Order Execution Violations
- Attempt to withdraw TRANSACTIONAL FUNDS DEPOSITORIES (surety funds)
- Accounting and Record Keeping Violations
- Late and Non-Payments to the EXCHANGE
PANAFEX EXCHANGE will no longer have any association; provide any license guarantees, deposit sufficiency, and such to any client of FXCH. Please note that PLATFORM USE is terminated.
Regards,
PANAFEX EXCHANGE
Legal Compliance Department
145-157 St John Street, 2nd Floor,
EC1V 4PY, London, United Kingdom
www.panafex.com
business@panafex.com
waldik, germany
Rating:
Date of Post:
2007-10-09
Review:
You think, they have 2 pips spread, or even 1 pip? WRONG!!!! Every trade costs you about 20 pips spread, no joke. When entering a trade the quotes are correct, but after a while when you compare their quotes with quotes from other brokers, their quotes are always about 10 to 20 pips worse, either higher when you are short or lower when you are long. You cant do anything against it. Just beware. Their electronic platform steels your money.
mike, bronx ny
Rating:
Date of Post:
2007-08-09
Review:
I won't call it a scam. He does not charge for it. And I noticed that I can make 1 out of 3 possible trades from his forecasts. I think we the beginners at 4x biz. need a lot more public spirited individuals like Felix to steady our footsteps in the treacherous land of forex. Until I have his free opinions alongside others who gave unconditional free forex tips or signals , I can not rate him fairly.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all
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The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you
should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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Spam Notice. To secure your privacy FPA mailing list is maintained and all emails to FPA members are sent through AWeber Communications, Inc. with world stringent Zero Spam Tolerance policy. One click unsubscribe option is included in every email.