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charging -ve swaps on EUR CHF even though it must be +ve

Discussion in 'Scam Alerts' started by Agent_47, Mar 26, 2012.

  1. Agent_47

    Agent_47 Recruit

    Jan 3, 2012
    Likes Received:
    Hello folks,
    I have problems with iforex
    1. I took a position in EUR CHF long and they started charging -ve rollover rates that too to the extent of -2PIPS/ Day. when contacted they say that they charge because they want to charge. is it legal and right to do so
    2. I being in india is iforex legally registered to operate in india as i need to submit losses incurred here i have to show in my investment during tax filing as per laws of my land.
  2. Pharaoh

    Pharaoh Colonel

    Oct 3, 2007
    Likes Received:
    If they publish the rates on the website, screwing clients on swap is a bad thing, but doesn't qualify as scam. My best suggestion is to close your account. Once the money is safely back in your hands, leave them a 1 star review.
  3. fxfrench

    fxfrench FXOpen AU Representative

    Jun 1, 2008
    Likes Received:
    A broker is just as free to add a markup to the published swap rates as they are to add to spread or add a commission to make a profit from their service.

    The question is though, do they mention their swap markup in the customer agreement or trading terms documents?

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