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Swiss Dealer Dead Pool
Swiss Dealer Dead Pool
There is great deal of uncertainty in the Swiss Forex Dealer community right now. There is no way of knowing which firms are here to stay and which firms are collecting coins in preparation for their crossing of the river Styx. I have emailed all the major Swiss firms to try and find out if each firm plans on getting a banking license. The responses (or lack thereof) have been quite illuminating. As such I'm starting a Swiss Dealer Dead Pool to keep the trading public updated and informed about what is going on in Switzerland. Firms that announced they are applying for a banking license These firms have confirmed they plan on getting a banking license. 1) ACM 2) Fibo Group 3) Crown Forex Firms that are fleeing Swiss Regulation These firms have stated they are registered offshore and don't need to register. 1) Masterforex. Their business office is listed in Switzerland but they are registered in the Seychelles and have stated they do not need to get a banking license. 2) forex-swiss. FXCH, despite the fact they are NAMED "Forex Swiss" claim registration in Dominica. This is an odd company that has claimed multiple office addresses over the years including, Switzerland, Austria, South Africa, Iran, and the United States. Today they are claiming they have offices in Dominica and the United Kingdom. Tomorrow who knows, they could claim a mailing address in Tibet. Beware this firm. 3) Prime4X. Their head office is in Switzerland but they have stated they are applying for a license in Cyprus. Firms that are no longer accepting customers These firms are no longer accepting new customers. 1) WestCapFX Firms that refuse to comment These firms refuse to comment on the new licensing requirement thus leaving their customers completely in the dark about their future. I strongly recommend anyone who has an account with any of these firms take their money out immediately due to their lack of transparency. 1) GFX Group (Forex.CH) 2) DukasCopy 3) MIGfx 4) Swiss Direkt 5) Tadawulfx 6) Aleccohfx 7) Advised Trading As always conduct your due diligence and make sure the firm you trade with is regulated and legit. |
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ForexSaviour;
Thanks for your hard work. All traders need to know the situation as all Brokers are not on the Up and Up.
__________________
Not Everything that looks straight is: Until you measure it. |
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Don't know where you are getting your information about MIGfx but I can tell you they have started the banking license application a while ago, they were probably in the first swiss brokers who took the initiative to do it, even before ACM.
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I asked MIG by email and they never replied. Until I see them state publically they plan on getting a banking license I am not inclined to give them the benefit of the doubt.
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tradeview is not a swiss firm and isn't impacted by these new rules. As for velocity4x, they are no longer an independent FDM. In fact, teh NFA came down pretty hard on them when they were. Surely they are other brokers worth opening an account with...
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