Discussion in 'Forex Brokers' started by Gerbartus, Mar 27, 2008.
Anyone knows about this new Swiss requirement of banking license for broker dealers?
Yes, do not trust Zurich gnomes in any way. You will thank me for this advice.
How about some solid arguments...
Posts like the above help nobody.
Just joking... geez. rough day at the office?
How about some solid arguments...
Forex in Siwss is not regulated .Author discussed that with different Swiss authority . Shares trading in Swiss regulated through EBK
Statement as by Ducascopy web side -regulated through moeny laundering authority are deceptive. ..
Author discussed this matter with Swiss money laundering
authority .They are responsible only for money laundering
Not for complaint clients against broker
First, have you ever traded with dukascopy? If not, how can you judge them? All Swiss brokers are bad by default? Come on...
I find nothing deceptive in their money laundering clause. All brokers have this.
Refco was a U.S broker and look what happened...
First, have you ever traded with dukascopy?
It is not regulated ,no doubt . If Swiss authority would change
he's position ,author would inform you .
" ... I have not all error's made myself ,for another persons
was alsov chance" -Napoleon ,later used from W.Churchill
READ it if you are trading with Swiss brokers.
Thank you for your interest in the Swiss financial market regulation.
For the time being, foreign exchange dealers did not require an authorisation of the SFBC, provided that they exclusively dealt in foreign exchange on the spot market and that the funds were handled on a short-term basis only for the execution of the exchange transaction and that no interests were paid. Foreign Exchange dealer had to dispose of their own trading platform. This exception has been amended by the Swiss parliament recently. Starting April 1, 2008 foreign exchange trading including the acceptance of deposits from the public on a professional basis becomes a privilege of authorised banks only.
For a overview on the coming change in the regulation of forex dealers we would like to refer to the publication on the website of the Federal Department of Finance in German French and Italian ( http://www.efd.admin.ch/aktuell/medieninformation/00462/index.html?lang=de&msg-id=17808).
We hope that we were able to help yaou further.
Secretariat of the
SWISS FEDERAL BANKING COMMISSION
sig. Christina BÃ¼rgi sig. Simone Flach
Phone +41 31 322 60 69
Fax +41 31 322 69 26
I am thinking about Finex Group ..... I think they are so freaking smart they were the first one to move their customers to the bank. he he he But how did they know that this is going to happen?
Adress ,which you mentioned is EBK .
Author discusssed last year in EBK ,this stated that responsible for compaint ,related to shares ,but not responsible for spot forex .
You must ask by EBK - Are you responsible for complaint of individual clients against spot forex broker ,which based in
If they would answer ,that situation changed ,you can post
this answer on ET .
Clearly states that :
"Starting April 1, 2008 foreign exchange trading including the acceptance of deposits from the public on a professional basis becomes a privilege of authorized BANKS ONLY."
what more they can say to assure me that Swiss brokers are in danger? I have nothing against the Swiss brokers, but please don't post misleading information, and let people now the truth.
Separate names with a comma.