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ForexOne.ch Review

Updated: Aug 13, 2019
TradeMonster.ch
2.681 · 12 REVIEWS
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ForexOne.ch

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2.681 · 12 REVIEWS
Forex Peace Army
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Consumer Reviews

WinFX,
Austria,
Nov 8, 2010,
Guest

Forexone has closed its doors and does not exist anymore.
Here enclosed a letter I received from a former important empolyee of Forexone describing the practice of that broker and other bucketshops. Unfortunately its in German, but maybe helpful for all German speaking visitors of Forexpeacearmy:


Sehr geehrte Forex Freunde,

mein me ist Frank Lucht, der ein oder andere kennt mich noch als Head of Riskmanagement oder auch Kundenbetreuer / Händler der erloschenen Forexone AG.

Da ich unter anderem als langjähriger selftrader im Forex Bereich durchaus über die Problematiken mit verschiedenen Brokerhäusern im Bilde bin, möchte ich Ihnen diesen Leidensweg ersparen und Sie auf Ihrem Weg begleiten.

Ich habe nun nach der Firmenauflösung mehrere Monate damit verbracht, Brokerhäuser und deren Machenschaften zu analysieren, Informationen gesammelt, an die Sie als Privatkunde in den meisten Fällen leider erst kommen, wenn es schon zu spät ist.

Das Resultat ist leider niederschmetternd aus der Sicht des Kunden.

Viele, oder besser der überwiegende Teil der Broker, die auch noch Marketmaker sind, gehen nach wie vor davon aus, dass rund 95 % aller Kunden Ihr Geld beim Handel verlieren.

Sicher haben Sie sich auch schon gefragt ob Ihre Positionen überhaupt im offiziellen Markt gehandelt werden.

Die Antwort lautet überwiegend: NEIN!!

Die meisten Häuser treten mehr als Buchmacher auf, d.h., sie lassen Sie im eigenen Buch (B-Book) handeln, mit dem Ergebnis, dass der Kunde letztendlich keine Gewinne machen darf, denn sonst verliert der Broker ja.

Wie macht er das?

Das ist ganz einfach:

als Marketmaker stellt er seine eigenen Kurse, die auch gut und gerne mal 20 Pip`s von den Kursen anderer abweichen und begründet dieses mit volatilen Zeiten oder geringes Volumen.

Newstrading und Scalping sind untersag oder zeitlich begrenzt (2 min. Regel, der ein oder andere kennt das noch). Sollten Sie dennoch eine derartige Handelsweise an den Tag legen wird entweder Ihr Konto gekündigt (dazu hat ja jeder Broker das Recht lt. seinen AGB`s) oder die Gewinne einfach nicht ausgezahlt bzw. wieder ausgebucht.

Die Begründung liegt meist darin, dass der Broker diese Position angeblich in der Kürze der Zeit nicht am Markt platzieren konnte. Und das im Zeitalter schneller Computer und noch schnelleren Datenverbindungen.

Manche schalten ihre Plattform bei News einfach mal ab und begründen dieses mit Stromausfall mitten in London, als ob diese Häuser kein Notstromaggregat am Server haben.

Stop fishing, auch ein sehr beliebtes Spiel der Händler, die den ganzen Tag nichts anderes zu tun haben, als Ihre Stops abzugreifen. Diese Leute werden übrigens sehr gut dafür bezahlt.

Was passiert nun mit den Tradern, die nicht zu den 95% verlieren gehören?

Nun, Ihnen wird das Leben so schwer wie möglich gemacht, mal kommen Sie nicht in den Markt (was seltener passiert), meistens kommen Sie nicht wieder raus und zwar deswegen, weil man Sie einfach von Automatik auf manuell stellt. Dann entscheidet der Händler am anderen Ende wann und vor allem zu welchem Kurs Sie aus dem Markt kommen, denn es heisst ja immer so schön „Ausführung zum nächst handelbaren Kurs (abgesehen von Limit Ordern) und Sie bekommen ein Slippage ohne Ende.

Gerade der Bereich Scalping ist ein heisses Thema, „schlaue“ Trader gehen aufgrund eventuellen Verbots mit grossen Positionen in den Markt und versuchen diese nach wenigen Sekunden durch eine Headgeposition abzusichern.

Glauben Sie allen Ernstes, dass eine solche Handelsweise nicht auffällt?

Was passiert?

Der Kunde geht mit einer grossen Position in den Markt. Der Kurs wird sofort vom Broker manipuliert, da er ja weiss, dass gleich die Headgeposition eröffnet wird. Dadurch entsteht dem Kunden der erste Nachteil. Nun geht der Kunde mit der ersten Position aus dem Markt und wird sogleich vom Händler auf manuell gestellt und der Kurs abermals verändert. Der Kunde versucht nun natürlich so schnell wie möglich auch die Headgepositon zu schliessen, doch siehe da, es funktioniert nicht, die Order bleibt hängen, der Kurs läuft gegen Sie.

Dann endlich lässt sich die Position schliessen, der Gewinn ist dahin oder es ist sogar ein Minus entstanden. Auch hier bin ich mir absolut sicher, dass sich der ein oder andere unter Ihnen schon mal in einer derartigen Situation befunden hat.



Sollten Sie bis dahin der Meinung sein, dass all das, was ich hier preisgegeben habe dummes Geschwätz ist, wünsche ich Ihnen weiterhin viel Glück beim Handel und mit Ihrem Brokerhaus.

James & Robert,
England,
Feb 18, 2010,
Guest

My friend and I have had bad experience with them. They requote all the time even when taking a few positions during the week. We wait for position set up and when we wish to execute 1-5 weekly, we receive requotes and then miss our entry. We decided to close account and even then it took over 2 weeks for withdrawal.

I also heard that they are doing business with Finanzas Forex which everyone knows was a big scam.

I would stay away and only use reputable brokers that are regulated.
NorbertS,
Germany,
Nov 24, 2009,
Guest

The Swiss regulator (FINMA) took control over all Forexone companies based in Switzerland:
http://www.finma.ch/e/sanktionen/vorsorgliche-massnahmen/unterstellungsverfahren/Pages/default.aspx
Gerald,
Germany,
Sep 2, 2009,
Guest

the good ratings for Forexone are from the old times, when they operated as IB for ODL. Now you trade against their books and they run their business based on the general rule "it only takes some time before a new trader looses his money". If you make profits consistenly they cancel your trades, because you are violating their rules. No specific reason is given. You have to sue them in Cyprus if you do not want to accept their decision. I know it is unbelievable, but try it yourself, if you want to learn it the hard way.
Andreas,
Switzerland,
Jul 28, 2009,
Guest

This company is not paying my gains of
Norbert,
Germany,
Jul 22, 2009,
Guest

I started trading with Forexone in May 2009 and was happy with the platform.
After some successful days I received a call that my trades get reviewed, because they are too frequent (many less than 5 min) and during news.
After some days Forexone told me, that most of my trades (98% of the profits) will get cancelled.
On my objection that
- There were no news at the time of some cancelled trades
- Trading has been marked as to frequently, even if there was more than half an hour between buy and sell.
- The report provided was inconsistent
-
Peter,
Germany,
Jun 26, 2008,
Guest

This is an excellent company. I give them five stars for overall. I have done over 1000 trades with them since I opened my account and have only seen good fills. Many times I put orders in with 10th of a pip and almost always I see a price improvement. I generally don't need to call them much anymore but in the beginning I needed help and the customer service was very nice. The charts are just ok. I think they can be improved on but they do the job. Very impressed overall.
West Coast Pips,
Vancouver, BC,
Jan 7, 2008,
Guest

Early November 2007 I opened an account with Forex One AG or Trade Monster out of Switzerland (www.forexone.ch/). I had very good service prior to opening a live account with them and felt based on the responses for my many questions, this would be a good platform to trade with.

Opening an account with these guys is arduous to say the least as you need to fill in an 8 page application form and them mail it off together with certified ID!

I opened an account with $10,000 US as the minimum to fund them is $8,000. Soon after I opened an account with them I was able to make my first successful trade with Trade Monster using SNW. This was for AUD retail sales back in November 2007. However, all successive trades using SNW were locked down as they did not want me trading the news. I tried about 7 more times with no luck. I was sent email messages warning me to be 'careful' trading the news. I decided I had enough of Trade Monster and closed my account early December 2007 requesting full funds back. Upon opening an account you give them your full banking details. Money was supposed to have been wired back on Dec 5, 2007. A few days later I was curious why there were no funds in my account.

I contacted them about this over and over again the week beginning Dec 10, 2007. They got back to me Dec 12 saying funds were only wired Dec 12, 2007 because they had 'issues transferring funds to Canada.' Believing them, though rather frustrated, I waited a few more days. No money by the end of this week. I called them so many times over the phone. Dec 19, 2007 came and they said funds were rejected and were 'immediately' sent out the same day.

This was going to screw my Christmas up asI was hoping to get the funds before the holiday season. Nothing came and by now I knew they were really messing with me. I called again and again the week of Dec 31 as no money was still in my account. Jan 4, 2008 came along and I blasted them over the phone. I had to call 10 times that day and got one email back saying funds were 'definitely wired today (Jan 4, 2008).' Money finally came in my account a few hours later, though had it not been for my tenacity, I am sure I would be out of over $10,000.

My advice is STAY AWAY from this shady broker. I contacted Polyreg in Switzerland who regulate some of the Swiss forex brokers and they want a full report from me so they can conduct an audit on Forex One!

2007-12-07 1 Star Hi Guys, I had a live account with Trade Monster, otherwise known as Forex One AG. Very good, polite service. No online chat and based in Switzerland. Hard to navigate around their website as it is in German. They want English on there, though have not gotten around to it yet.

Application process is tedious to say the least. All Swiss brokers seem to have this copious procedure for opening an account. With these guys you need to send in an 8 page application together with certified ID!! The latter is a pain.

Uses MT4 platform. Spreads are very low which is great. If you are a news trader like me, forget opening an account with them. Whilst they are an STP broker, they will lock you down completely after you make ONLY ONE successful news trade. I was able to get 17 pips profit on AUD Retail Sales last week. That was it though and every time I used SNW to fire buy or sells, it said 'invalid parameters.' Great if you are not a news trader though, though remember the application process even still!!!
Foersner,
Bavaria,
Dec 10, 2007,
Guest

A very good independent swiss forex broker with strong service an very good fix spreads.
chess,
turkey,
Sep 30, 2007,
Guest

hi Felix. this revision is better i think. regards.
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i can only say they are the best broker i traded so far. credits go to both odls as being the broker and trademonster for providing very competitive 2 pips spread 24 hours for all majors.(7 currencies total including eurchf,eurgbp,eurjpy.)
no stop hunting, no requoting. execution time is as low as ping time and it is always like that.no freezing problem. mt4 is available.
although they provide 2 pips bid/ask quotation values and moves, prices are in accordance with the ecn brokers i compared. they provide just one more pips and had seen no manipulative spikes yet.(for example mig used to be 3 or 4 pips more(or less) than ecn brokers during volatile-reversal times. so mig were trying to to make 4-5 pips profit during entering and another 4-5 pips during closing.)
i dont trade news. and they dont ever go against you if you are in a profitable position. their english support is sufficient and u can find people caring your needs.
since i have not encountered any single unfair issue i regard them with the highest 5 star. i hope and feel that they will be same in future.