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Fxch = Scam!

Discussion in 'Scam Alerts' started by babadan, Jan 24, 2011.

  1. babadan

    babadan Recruit

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    Hello,

    Unfortunately, I should have listened to the warnings from the other reviews.
    Now, after opening a real account with FXCH and I have lost 1000$ in 20 minutes.
    I have encountered the following negative issues while running my FxRobot:
    On their website it's stated: 'NO TRADING RESTRICTIONS. Expert Adviser permitted. Scalper Permitted'. Based on the e-mails I have received from them, they are clearly admitting that the advertise is false. See FXCH's mail:" Unfortunately, this is the conditions of the current clearing banks that we have so far for one pips hunters. Again, this is condition of clearing banks that can support your one pip hunters activity with EA trading in standard mode only." The discussion was referring to 1lot/trade minimum, even if I have set 0.1 lot size.

    Another issue: in the contract it is not stated anywhere that there are limitations for scalpers. So FXCH has broken the contact rules, by freezing the order size to 1 lot (0.5 lots after my complaint), despite of the fact that my orders were set for execution with 0.1 lot size.
    In consequence, the losses I have suffered we more than expected, so I demanded the refund of the money I have lost due to their restriction of 1 lot/trade instead of 0.1 lost that was set in my EA.
    I have funded my account (#4532) on 05/01/2011 with 2000 USD. I lost 993 USD with 1lot/trade, where I should have lost only 99.3 USD, if FXCH would have executed my orders with 0.1 lot size as it was set and not 1 lot lot size.

    They have refused to refund me the money.

    My conclusion: there is nothing Swiss about this co called 'broker', they are just another SCAM! Stay away if you want to keep your money intact!

    Regards,

    Babadan
     
  2. JPeri

    JPeri Recruit

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    thanks for informing us!
     
  3. babadan

    babadan Recruit

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    FXCH Scam Proof

    I have attached the snap shot with the setting of the EA , where you can see I have set 0.1 lots and the opened trade is with 0.5 lots... Initially, they onened my trades with 1 lot size, but after my complain, they reduced it to 0.5 lot/trade...
    In the second snap shot there is the proof that the demo account and the real account have different feeds. It a clear manipulation! Stay away!
     

    Attached Files:

  4. Greegoriy

    Greegoriy Recruit

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    Thanks!

    Thank you for that warning! I'm just going to FXCH account open. But now, forex-swiss.com not wait for me to do so. Thanks again!
     
  5. athenafx

    athenafx AthenaFx Representative

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    I am a professional trader and i live in switzerland. So i cannot stand this kind of scam.

    I wrote a letter to the FINMA (swiss regulation) and this mail to fxch

    >>>>>>>>>>>>>>>>>>>>>
    Hi,

    After verification, it looks like you have no office in Switzerland.

    You are not regulated through FINMA.

    After searching your company name through the public swiss list, we found nothing.

    So we ask you the information to bring the evidence that you are a legal swiss company.

    Otherwise, you cannot use the swiss flag, the forex-swiss web site nor any information that might let people think that you operate a legal swiss business.

    >>>>>>>>>>>>>>>>>>>>>
     
    #5 athenafx, Mar 11, 2011
    Last edited: Jan 14, 2012
  6. joe201150

    joe201150 Recruit

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    Can any one confirm these details

    Hi,
    FXCH has posted folloing information on their website. I used to have live account few weeks back and I had to close it because of they were not responding to my emails at all.
    So, if any of you have live account, can you please check these details for me?

    Forex-swiss.com, forex swiss, forexswiss 24 hour online Forex trading with No Dealing Desk

    1 pip spread on all currency pairs
    Margin: 500:1 or $200 per standard lot and $20 per mini
    Minimum account size is 2000 USD
    Opening accounts in multiple currencies.
    Trade mini and standard lots on the same platform and account

    Thanks
    Joe
     
  7. amd ahyar

    amd ahyar Recruit

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    Fxch is not scam!!!!!!!!

    FXCH: Foreign Exchange Clearing House is a Prime Clearing Member of European Union Electronic Derivatives Exchange EUEDEX™ regulated by Financial Supervisory Agency (FSA). Registered Member ID: PCM-2367
    FXCH: Foreign Exchange Clearing House is authorized by EUEDEX™ Financial Exchange to solicit clients and accept orders to buy or sell approved financial instruments on EUEDEX™ as well as accept money or other assets from customers to support such orders. According to EUEDEX™ regulations FXCH maintains a Surety bond with EUEDEX™ for clients’ protection against possible customer complains and claims toward FXCH. Members of EUEDEX™ are selected according to strict criteria and have to respect a codex of honor in conducting their business. Banks and financial companies withholding customers' funds are obliged to adhere to the regulatory standards of the financial authorities and must follow precise due diligence procedures and trading practices. FXCH fully compliant with the aforementioned directives and is subject to all applicable financial regulations. AND ITS NOT SCAM,
     
  8. Pharaoh

    Pharaoh Colonel

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    You seem to be very concerned regarding a thread that was last updated over a year ago. You created a brand new forums account and came straight to this old thread for your first post. Do you work for FXCH?

    When did FXCH first get registered with Euedex?

    I don't suppose you have the URL for people who disagree with you to file complaints at Euedex?
     
  9. athenafx

    athenafx AthenaFx Representative

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    Despite the swiss flag and the words "forex-swiss", FXCH is not a swiss company.

    FXCH is not registered in Switzerland.

    FXCH is black listed by FINMA.

    FINMA - Details
     
  10. Sith-Lord

    Sith-Lord Recruit

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    Das ist aber keine Manipulation. Es liegt ein Fehler von ihrem EA-Scalper-Einstellungen. Ich kenne jemanden, die bei FXCH mit Lot richtig getradet werden. hm
     

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