On-line since: About the company: Forex-Swiss (FXCH) was registered as a currency clearing house in the Dominican Republic in January 2004 (registration number 9126). Mainly, the broker focuses on Bitcoin and other cryptocurrencies trading. It offers 16 types of cryptocurrencies and 50 currency pairs for trading on three types of accounts. Metals and oil trading is also available. Security of funds Before you start trading with Forex-Swiss, you should take into consideration that this is not a Swiss broker as you might think misled by its name. Moreover, the company is registered in the Dominican Republic where there is no Forex regulation authorities and OTC derivatives. Thus, when trading with Forex Swiss, clients and their funds cannot be fully protected. Trading conditions Minimum deposit Forex-Swiss provides three types of accounts: Regular, Professional, and Institutional. The minimum deposit for the first type of account is $2,000, for the second – $5,000, and for the third – $10,000. This is a quite high initial payment. A demo account is also available. Average spreads and commissions Forex-Swiss offers commission-free trading and narrow market spreads from 1 point. Maximum leverage The maximum leverage depends on the trading instruments. When you trade Bitcoin, the leverage is 1:10, while with Forex trading instruments, it accounts to 1:1000. Trading platform Forex-Swiss supports the standard MetaTrader 4 (MT4) platform. The broker also provides a mobile and a desktop version. Payment options The following payment methods are available for Forex-Swiss customers: credit/debit cards, wire transfer, e-wallet payment systems such as Skrill, WebMoney, ePay, and others. Feedback On the Internet, you can find a lot of negative reviews from people who have traded with this broker. However, on the company’s website, only positive reviews are given. They are most likely to be fake due to their content and style of writing. Apart from accusations of fraud, a significant disadvantage of this company is a lack of regulation by any relevant authority. Advantages:
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I have profitable trading experience with Forex Swiss broker. I can find a clear charting tool and live price quote on their MT4 platform and my orders execute instantly. So I am comfortable trading with Forex Swiss. Till now I have earned $750. which is able to withdraw through the Swiss bank account within four days. So I say Forex Swiss is a reliable broker.
I feel so guilty after I joined Forex-Swiss. Their initial deposit is high, I opened an account at this broker without knowing and read the reviews properly. After I joined, my trading was fine for a month but after that, it was totally disaster. The platform crashed and hung all the time, it was so hard to trade using their MT4 platform. The execution was also delayed and spreads so high after that slippage happens. From my $2000 initial deposit, I lost $689 due to their bad platform quality. I have called their support and made a report but they were not concerned. So, nothing else. I closed my account after I withdraw the rest balance in the account.
Have just started trading live with Forex Swiss broker. They have great account types and offer wide range of cryptocurrencies.. MetaTrader 4 terminal is executable and includes a broad set of analytical tools for example charts, indicators and graphic facilities. Their opening deposit bit high. The support team is very cooperative.
I feel so guilty after I join Forex Swiss. I put my money there, trade with them, and didn't find any good trading conditions. The trading platform is hung all the time and spread's floating. They don't have fast order executions, my positions always different. They are so slow. Even for the deposit process, it takes more than four days. So headache to trade with this kind of broker. I don't want to take a risk and decided to withdraw the rest balance of my account. The withdrawal process was done after three weeks I sent the request, and they charged a big amount! They are not reliable, also not recommended broker.
I should have not taken the risk anymore. I knew from the beginning that Forex Swiss is not regulated but I gave it the benefit of the doubt and invested in them despite it. Now, I only ended up losing all my money because their platform is too unstable. All my trades were automatically closed at a losing position.
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