Big, Swiss, and Bankrupt

GoldenFX

Private
Messages
15
Check this out, what's going on!

I saw these entries at fxstreet

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10Crown Forex Employee

I am an employee of Crown Forex and I can confirm that Crown Forex has appealed this decision and that this decision is SUSPENDED,,,,the court will make a decision on the activities of Crown Forex in Due Time.

Furthermore the shareholders of the company will provide sufficient funding and capitalization to over come this decision.
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on 21 May 2009 at 2:01 pm11Crown Forex Employee

Furthermore Crown Forex has presented a plan to the court and to FINMA to resume the banking application and to provide the bank required capitalization ASAP. The court is expected to start its proceedings in the next few weeks and within the next few months a final decision will be issued, hopefully in favor of Crown Forex and its clients.
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on 21 May 2009 at 2:06 pm12Crown Forex Employee

The lawyer of Crown Forex has issued a special letter to the court on several violations made by FINMA and its investigation committee while handling Crown Forex File. Among these violations are a violation of a previous court order and a violation of abuse of power.
 

Stony

Sergeant
Messages
167
Hi GoldenFX,

I hope you are right. But I have gone through all that stuff with the Swiss broker Neuimex 2 years ago. That went exactly the same way as it goes with CF right now - trying to calm down the customers with apparently reasonable explanations and attacking the authorities for wrong measures. The end is: until today I didn´t get back one single cent of my equity. Just search Neuimex by Google, you will find several interesting threads on the subject.

Regards, Stony
 

ernest8fingers

Master Sergeant
Messages
488
Ha Ha

I saw these entries at fxstreet

#
10Crown Forex Employee

I am an employee of Crown Forex and I can confirm that Crown Forex has appealed this decision and that this decision is SUSPENDED,,,,the court will make a decision on the activities of Crown Forex in Due Time.

Furthermore the shareholders of the company will provide sufficient funding and capitalization to over come this decision.
#
on 21 May 2009 at 2:01 pm11Crown Forex Employee

Furthermore Crown Forex has presented a plan to the court and to FINMA to resume the banking application and to provide the bank required capitalization ASAP. The court is expected to start its proceedings in the next few weeks and within the next few months a final decision will be issued, hopefully in favor of Crown Forex and its clients.
#
on 21 May 2009 at 2:06 pm12Crown Forex Employee

The lawyer of Crown Forex has issued a special letter to the court on several violations made by FINMA and its investigation committee while handling Crown Forex File. Among these violations are a violation of a previous court order and a violation of abuse of power.
Yea it sucks when you have been wronged and are powerless to act. Kinda like many of your "clients" that are waiting for their withdrawals?
 

Pharaoh

Colonel
Messages
19,787
Would that posting over on FX Street be by one of the same employees who was willing to accept new deposits for months after withdrawals were impossible?

I don't think I'd believe anything said by anyone working for Crown unless FINMA backs them up on it.
 

Fantomas

Private, 1st Class
Messages
27
Fantomas

Yea...as the French say..." un peux drole".

Can anyone believe.. they applied for a.... Banking licence and have expectations that they may get it?

Sounds like a "hot summer day" dream... lying under a coconut tree (on a sandy beach of a pacific island "paradise") and suddenly... struck on the head by a few ...coconuts!

Feel sorry for all those CF clients with active accounts.

:unhappy:
 

Hitch-hiker

Recruit
Messages
6
Would that posting over on FX Street be by one of the same employees who was willing to accept new deposits for months after withdrawals were impossible?

I don't think I'd believe anything said by anyone working for Crown unless FINMA backs them up on it.
just to draw your attention, they had the smallest staff that can be ,to deal with any real problem with one's account the live chat person would give you the cell phone number of the great CEO 's himself , it was a one man band owned by a small number of investors besides that CEO and they seem to have little participation in running the company , perfect environment for a scam .:mad:
In publicly traded companies the balance sheets are published and reviewed all the time which gives more security about the company status.
 

IKEMEFUNA

Recruit
Messages
2
Hi,

I am a client of Crown Forex and I have unable to withdraw the money I have in my account with them for months.Now that CF is being liquidated:

Will I now be able to get my money back from Crown Forex?
Also, is it possible to have all the money I deposited with Crown Forex right from the very first time I opened my account with them less all the money I ever withdrew from them?

I actually traded a little during the period that the investigation was going on and lost a huge chunk of the $10,000 USD I had in my CF account and now there's barely a $100USD left. Do you think they would still let me have my $10,000 back since it's obvious that CF is being liquidated and have been breaking the law for several years now?Will they just have mercy on we the clients and give us back all the cash we ever deposited right from the start?

Thanks
IKEMEFUNA
FPA recruit
 

GoldenFX

Private
Messages
15
If you continue to trade and lose money, I don't think they will give you the original deposit back. CF will make sure to that.
 

Samo

Recruit
Messages
6
Ok! Now I am a client of crownforex as well and hopefully I will get my money back as well. However my question to you is which broker is then good and has the least problems, since if I read reviws on this web site they all suck.

Any suggestions?

Supposobly there are some fx dealers for which governmants guarantee funds up to a specific amount but I have no idea which. Maybe anyone of you fellow soldiers now anything about this.
 

Stony

Sergeant
Messages
167
@ ikemefuna

Sorry, but at best you will get the 100 $ equity left in your account, because the loss did not happen by illegal action of Crown Forex, but by bad trades of yourself. But probably you will get back nothing at all because of lack of equity oof CF.

@ Samo

There are European based brokers (except Switzerland!!!) where the client´s equity is protected to some amount. I can recommend ActivTrades in London, UK. Have an account with them for more than a year now, no problems.

Regards, Stony
 
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