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crownforex.com Review

Updated: Jan 23, 2018
SCAM
1.992 · 65 REVIEWS
Is this your company?

SCAM CONFIRMATION 2009-05-20: The FPA has confirmed that Crown Forex is being liquidated by FINMA, the Swiss banking regulators. Crown Forex's live support is still claiming that there are no problems.

We urge traders not to deposit any money with this company. We encourage anyone who has money with them to contact the liquidators immediately. Please click the discussion thread link for their contact info.

Company has been liquidated.  Beware of new companies with the same ownership.



 

crownforex.com

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Case IDFiledCase nameVerdict
20092009-05-20FPA Scam Confirmation against CrownForexguilty

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Scam!
1.992 · 65 REVIEWS
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Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

john,
london,
Oct 18, 2010,
Guest

guys its time we sent an email and put some pressure on liquidators
send as much emails to them on christina.buergi@finma.ch and info@finma.ch and other liuidators email as mentioned below in forexpeace army
Dale Gardner,
Mexico,
Dec 29, 2009,
Guest

Crown Forex is out of business.
They were shut down by the goverment in Sweeden.
I received an email from someone telling me they where shut down and to contact them, which I did, but never heard another reply, after several weeks the platform would not connect.

Review Moderation Team Note: Switzerland, not Sweden. Please read the scam finding for information about how to contact Crown's liquidators.
ALIASGHAR,
pakistan,
Oct 17, 2009,
Guest

i have trading with this company since +2 years and from last 8 to 9 i was telling them i want to withdraw my amount there representative telling we can not withdraw your for now you have to wait, we are submitting banking licence from finma so there are some auditing going so we can not withdraw ,

kindly suggest me anyone how i can get my money back from them

thank you
aliasghar
alijam75@yahoo.com
naji ,
cyprus,
May 19, 2009,
Guest

Issue escalated to Traders Court FPA Scam Confirmation against CrownForex | GUILTY
Looks like Crown Forex has declared bankruptcy. This is an email from FINMA:

Dear clients,

The Swiss Financial Market Supervisory Authority (FINMA) has rendered on May 18, 2009 a decision opening the bankruptcy of CROWN FOREX SA as of Tuesday May 19, 2009 at 08:00 am (Swiss time).

The decision will be published on May 29, 2009 at 10:00 am (Swiss time).

Philippe von BREDOW and Laurent WINKELMANN have been appointed as bankruptcy liquidators by the FINMA.

Effective immediately, as of the date and time of the bankruptcy opening, the activities of CROWN FOREX SA are suspended, the company, its Directors and officers are forbidden to make or receive payments, and all the clients

More. Community discussion of this issue >>

Clint,
Nice,
Apr 15, 2009,
Guest

The statement i copied below is the most false . I deposited money on the 23rd of Dec when FINMA was in control of the company. They will not return the money they are responsible for how could they be looking out for the interest of the investor.
Those who deposited money after dec 9 should file a class action lawsuit against FINMA for withholding our funds. How could a goverment logically not allow withdrawals yet allow deposits they will not return? Fishy?
" FINMA will conduct investigations to establish the facts and, if necessary, take measures to protect investors' interests. FINMA was in fact conducting an investigation to screen the activities of Crown Forex SA."
Nancy,
Malaysia,
Apr 10, 2009,
Guest

Dear Nancy



Crown Forex S.A. was not in receipt of an authorization of the Swiss Financial Market Supervisory Authority FINMA as bank, securities dealer or authorized in the area of collective investment schemes. Under the Anti-Money Laundering Act (AMLA), financial intermediaries in the non-banking sector either require a license from FINMA as subordinated financial intermediaries (DSFIs) in the area money-laundering prevention or need to affiliate to a self-regulatory organization (SRO). Financial intermediaries in the non-banking sector are persons who on a professional basis accept or hold on deposit assets belonging to others or who assist in the investment or transfer of such assets. Crown Forex S.A. is a member of the SRO ARIF.



If there are grounds for suspicion that a financial company is carrying out an activity that is not in line with the authorization requirements, FINMA will conduct investigations to establish the facts and, if necessary, take measures to protect investors' interests. FINMA was in fact conducting an investigation to screen the activities of Crown Forex SA. On December 9, 2008 - at this time the predecessor of FINMA, the Swiss Federal Banking Commission (SFBC) - appointed a mandated investigator - Laurent Winkelmann, Ch
Keng Loong Choo,
Malaysia,
Apr 9, 2009,
Guest

Dear Keng Loong Choo

Crown Forex S.A. was not in receipt of an authorization of the Swiss Financial Market Supervisory Authority FINMA as bank, securities dealer or authorized in the area of collective investment schemes. Under the Anti-Money Laundering Act (AMLA), financial intermediaries in the non-banking sector either require a license from FINMA as subordinated financial intermediaries (DSFIs) in the area money-laundering prevention or need to affiliate to a self-regulatory organization (SRO). Financial intermediaries in the non-banking sector are persons who on a professional basis accept or hold on deposit assets belonging to others or who assist in the investment or transfer of such assets. Crown Forex S.A. is a member of the SRO ARIF.

If there are grounds for suspicion that a financial company is carrying out an activity that is not in line with the authorization requirements, FINMA will conduct investigations to establish the facts and, if necessary, take measures to protect investors' interests. FINMA was in fact conducting an investigation to screen the activities of Crown Forex SA. On December 9, 2008 - at this time the predecessor of FINMA, the Swiss Federal Banking Commission (SFBC) - appointed a mandated investigator - Laurent Winkelmann, Ch
Boris E,
Canada,
Mar 31, 2009,
Guest

Here is an e-mail I've got from the FINMA yesterday:
Crown Forex S.A.
Mario,
Dallas, Texas,
Mar 5, 2009,
Guest

I have emailed the FINMA commision asking about Crown's future and this is what they replayed!

"""Dear Sir,

Our investigation is now finished and we are waiting for a decision of the FINNA being in force and hence enforceable, at he soonest at the end of March, in order to be able to inform CROWN FOREX SA's clients of the next step of the procedure.

For the time being and until a decision of the FINMA would not be in force and enforceable, we can not give you more information on this matter.

Keep in mind that all further relevant information will be posted on the web site of CROWN FOREX SA, either on the client area after login or on the home page, as soon as they can be disclosed.

Sincerely,
"""
John,
China,
Jan 20, 2009,
Guest

Crownforex, a Swiss based forex broker, made many investors and traders lose money accidently and ignored their clients' withdrawal requests for months since Oct. last year.

I have used them less than 2 months till now but I have very sad experience with this broker. They reduced me $50.0 usd after I first made deposit into my real account and get some profits for no reason. They sent me a balance sheet and caculated my total ammount for wrong.

They NOT ONLY deleted my 7 benificial orders in trading and made me lose my big profits of USD 403.00, BUT ALSO ignored my 7 positions set previously, their platform didn't execute my orders at all which would have definitely got $322.0. It is to be known that the price 1.3390 I set as position close appeared in 20 minutes after my positions were opened and repeated many times.As a final result my orders were in 1500 USD floating loss.

They ignored my withdrawal requests time and time so that I lost my trade and also couldn't have withdrawed my money till now.
Mrs May Zhang, one CE of the company, has told me they would made my noney withdrawed by 8th Jan. when their account will acturally be open after the Swiss Federal Banking Commission decided whether the company would get an authorization. But when I sent my withdrawal request, I had been ignored till now and they gave another time limit of end Jan.

My suggestion is that Don't believe them and their promise. Their tactic is to get more fundings in and before they skip out, they can get money in as much as possible. I will continue to struggle
for my right and would like to hold all their clients' hands together who have been wounded by the company, in order to save our deposits.

I would like to ask whether Swiss is a financial security country, why FPA hasn't accounced any results about the investigtion and how they will resovle the problems that a broker without an banking license can be operate

Review Moderation Team Note: The FPA has warned against placing money with Crown Forex for several months. The FPA's Scam Investigations Committee is waiting for the results from the Swiss investigation into Crown before taking any further actions.