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Forex-swiss.com scammers

Discussion in 'Scam Alerts' started by balajisi, Nov 2, 2011.

  1. balajisi

    balajisi Corporal

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    I opened demo account with forex-swiss.com and tried an EA got excellent results practically no losses with 0.1 lot size as opened by the EA checked with their live chat whether same spreads and trading conditions are same and on confirmation opened live account funded with their min 2000 usd put this EA and to my surprise it opened 1 lot size with losses almost wiping the account. Sent them mail as to why got reply that their clearing banks accept EA trades with only 1 lot size did not reply as to why demo trades were 0.1 lot size. Then did a manual trade and got margin call with the lowest rate on their platform for eurchf and checked with other brokers all reputed ones the difference in their rate was 30 pips lower asked them for explanation and refund got standard reply saying it is normal to have 15 pips plus difference with different brokers. Sent 3 times mails threatening to go public in forums etc including FPA got the same response. I have both statements the demo and live account with the same EA to prove. Want to warn the public to stay away from this scam company.
     
  2. Pharaoh

    Pharaoh Colonel

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    Ouch!

    I'll have to add "place one quick trade to verify the MINIMUM trade size" to my list of things to do when checking out a broker.

    Was the EA trading minilots on the demo?
     
  3. balajisi

    balajisi Corporal

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    Pharoah

    Yes you are absolutely right I should have checked first by manually trying to place a pending order entry to see the lot size. The EA on the demo was trading mini lots 0.1 size which is 10k base currency whereas the live account was opening 1.0 lot which is standard lot imagine on a 2000 usd account having minimum 1.0 lot size on the platform is absolutely rubbish. I have even tried to switch over between demo and live accounts and could see clearly the difference in the rates and movements. The demo is absolutely manipulated to hook traders to use and then open live accounts which is under totally different conditions and then scam their money.

    Balaji
     
  4. athenafx

    athenafx AthenaFx Representative

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    There are several server paramaters that you can print on screen without risking anything with the help of a small piece of mq4 code.
     
  5. balajisi

    balajisi Corporal

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    Can u let me know as to how to do so to prevent such problems?

    regards
    balaji
     
  6. athenafx

    athenafx AthenaFx Representative

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    You can use the MarketInfo() function to retrieve various info such as MinLot or LotStep

    Market information identifiers, used with MarketInfo() function.
    It can be any of the following values:

    Constant Value Description
    MODE_LOW 1 Low day price.
    MODE_HIGH 2 High day price.
    MODE_TIME 5 The last incoming tick time (last known server time).
    MODE_BID 9 Last incoming bid price. For the current symbol, it is stored in the predefined variable Bid
    MODE_ASK 10 Last incoming ask price. For the current symbol, it is stored in the predefined variable Ask
    MODE_POINT 11 Point size in the quote currency. For the current symbol, it is stored in the predefined variable Point
    MODE_DIGITS 12 Count of digits after decimal point in the symbol prices. For the current symbol, it is stored in the predefined variable Digits
    MODE_SPREAD 13 Spread value in points.
    MODE_STOPLEVEL 14 Stop level in points.
    MODE_LOTSIZE 15 Lot size in the base currency.
    MODE_TICKVALUE 16 Tick value in the deposit currency.
    MODE_TICKSIZE 17 Tick size in the quote currency.
    MODE_SWAPLONG 18 Swap of the long position.
    MODE_SWAPSHORT 19 Swap of the short position.
    MODE_STARTING 20 Market starting date (usually used for futures).
    MODE_EXPIRATION 21 Market expiration date (usually used for futures).
    MODE_TRADEALLOWED 22 Trade is allowed for the symbol.
    MODE_MINLOT 23 Minimum permitted amount of a lot.
    MODE_LOTSTEP 24 Step for changing lots.
    MODE_MAXLOT 25 Maximum permitted amount of a lot.
    MODE_SWAPTYPE 26 Swap calculation method. 0 - in points; 1 - in the symbol base currency; 2 - by interest; 3 - in the margin currency.
    MODE_PROFITCALCMODE 27 Profit calculation mode. 0 - Forex; 1 - CFD; 2 - Futures.
    MODE_MARGINCALCMODE 28 Margin calculation mode. 0 - Forex; 1 - CFD; 2 - Futures; 3 - CFD for indices.
    MODE_MARGININIT 29 Initial margin requirements for 1 lot.
    MODE_MARGINMAINTENANCE 30 Margin to maintain open positions calculated for 1 lot.
    MODE_MARGINHEDGED 31 Hedged margin calculated for 1 lot.
    MODE_MARGINREQUIRED 32 Free margin required to open 1 lot for buying.
    MODE_FREEZELEVEL 33 Order freeze level in points. If the execution price lies within the range defined by the freeze level, the order cannot be modified, cancelled or closed.
     
  7. balajisi

    balajisi Corporal

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    I have the statements of the demo and live accounts so if someone wants can post them here if it is possible or send by mail to prove my point as stated above
     

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