Tradex Swiss AG
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thread: Tradex Swiss AG

  1. #1
    Junior Member audi2000's Avatar
    3

    Tradex Swiss AG

    Has anyone dealt with or heard of? (tradexfx.com). Apparantly they are harmonious with Metatrader4 platform, and also have tight spreads.

    Forexbastards.com has just one entry in which it is listed as a scam.

    Any info from anyone with expertise dealing with them is valued.

  2. #2
    Does anyone know swiss regulation works? I see a lot of companies registered in switzerland but what type of consumer protections do they give you?

  3. #3
    Senior Member rubesnsbelmokte's Avatar
    164
    Client protection as in once the firm goes bankrupt? None - clients get what is left of the capital, which is in most cases not much. Its the same like in the united states, or most other areas for that issue. The larger problem is that ANY NUTTER can start a FX broker-business at swizerland (and can do this AGAIN, following his very first fx firm went bankrupt). From the EU or the USA its quite hard to meet regulatory requirements so that one is allowed to open such a business and recieve client-funds. This led to many dubious firms and outright scters opting to domicile their outfits in switzerland.

  4. #4
    Thanks shrike. This is helpful.

  5. #5
    Member Bates's Avatar
    42
    Hi..
    I'm one of those tradex client. Well I am much upset right now with the current case of tradexfx.com. .their other website is currently online tradexfx.us
    . I do have live account worth 29k with them. . And every thing sound. .
    I talked with them by telephone today. . Plus they stated their account has been suspended by Agencies. . Since they had been providing 6% to 10% per month turnover in their managed account holders. . That's why GOV is behind them. .
    I guess they're Broker not a fund firm. . So I think it's illeagal to provide%. .
    But they are handling managed account. . Not talking investment. But trading on thier customers account. . anyway. . They must have done some thing illeagal that's the reason why they are under investigation. .
    And they explained one more thing that TRADEXFX is shuting down. .
    So far as Individuals's money issue,they said wait for 4 week. . As soon as our Bank accounts re-activte, we wil bank cable to individuals their funds. .
    Today I am much more stressed with the whole situation. .
    Can anybody else call them and receive more information and confirm that this information is right they supply me.
    Thank you


    P.S Thier Phone # that is working 1-6173388822. . No othe rphone is responding. . Even their staf is not choosing thier mobile phones.

    Kindly Guide me also, what can I do to return my money. . I'm far from Switzerland and USA. So what can I do?

  6. #6
    Hello..
    I'm one of the tradex client. Well I am much upset right now with the current situation of tradexfx.com. .their other site is currently online tradexfx.us
    . I really don't have live account worth 29k together with them. . And every thing sound's stuck over there. .
    I spoke with them by phone now. . Plus they said their account has been frozen by Agencies. . Since they were providing 6% to 10 percent per month turnover on their restricted account holders. . That is why GOV is supporting them. .
    I guess they're Broker not a Mutual fund company. . So I think it's illeagal to give%. .
    But they are handling handled account. . Not talking investment. But trading on thier customers account. . anyway. . They need to have done something illeagal that's why they are under investigation. .
    And they told me one more thing that TRADEXFX is shuting down. .
    So far as People's money issue,they said wait for 4 week. . The moment our Bank accounts re-activte, we wil bank wire to individuals their funds. .
    Now I am much more worried with the whole situation. .
    Can anyone else call them and get more information and confirm that this information is right they provide me.
    Thank you
    Hammad

    P.S Thier Phone # which is functioning 1-6173388822. . No othe rphone is reacting. . Even their staf isn't picking thier mobile phones.

    Kindly Guide me too, what can I do to get back my money. . I'm far away from Switzerland and USA. So what can we perform?
    Sounds as if you are getting screwed Hammad. Kind of like that bad guy at the AFL-CIO Democratic Debate who saw his retirement go up in smoke when his steel company went bankrupt. Well I am NEVER opening an account with a Swiss company that's for certain!

  7. #7
    Senior Member elaydora's Avatar
    116
    On their Regiion nothing is said of getting aBoston Branch. If they are allowed to start their company in Bostonthey require permission from the united states.
    If you sent your money to the US, then there is not anything you can do going to the Swiss Government.
    You could have opened an account with Refco. That's one firm that repect US and European regulations.
    Not everything with Swiss are swiss. Forex Swiss sound swiss but is not swiss.
    There's one thing before sending your cash to some broker. Find out from other traders for Just google and read the forums at which the broker are being talked about.
    There were strict regulations controlling export of sensitive substances to particular nations from Europe. The CIA and etc were also watching. And in spike of the US and European authorities viewing, a German company could still obtain permission from the German government to sell Saddam Hussein the substance that would eventually give him the Atomic Bomb.
    It does not matter where. Every nation has crooks when cash is concerned. Regulatons and legislation will not stop them. We only need to do our homework and discover out it.
    Switzerland is a small nation with 25 semi independant states. In accordance with a certain degree, every state has it's own control on particular issues. On financial issues, try to work with a company at which the state is noted as a financial center. Example Basel, Zurich or Geneva. There ought to be more strict control. Try choosing well known brokers such as Dukascopy or Synthesis Bank.
    You need to first learn under what commercial status these c--k are registered in america.
    Switzerland includes a lot of companies where there is just a Swiss letter box. For taxation reasons. All these are actually US and European companies where their actual business operations are in Europe or the US. Their operations must also be controlled and regulated by the country where they are actually doing the organization.
    If you contacted them via Boston, go after them in the united states. They have to repect US legislation. Even if they have only a workplace, they have to comply to US laws.

  8. #8
    Member Bates's Avatar
    42
    Thank you highway and MrChip to your answer.
    Well They're registered in Swiss jurisdiction but they are registered at NFA website too. . They have moved into USA. .
    I'm confuse. .
    ==========================================
    TRADEX GROUP LLC NFA ID: 0350721
    ==========================================
    Highway I understand You're talking about onshore and offshore business. .

    How I joined Tradexfx.com or Tradexfx.us?

    On of my buddy did attend Dubai Fx Trading Expo. He and their staff in Expo meet. . And he convinced him. . And after that he persuaded me that they are good and supportive. .
    I believed he had meet personaly with the proprietor of Tradexfx.com so they must be legit. .
    WHo knows what's going to happen next moment.
    Anyway what is suggesstion you guys give me to return my money?

  9. #9
    Senior Member elaydora's Avatar
    116
    [quote=Hammad;1533281]Thank you and MrChip for your reply.
    Well They are enrolled in Swiss authority but they are enrolled at NFA site also. . They've moved to USA. .
    I'm confuse. .
    ==========================================
    TRADEX GROUP LLC NFA ID: 0350721
    ==========================================

    quote]

    They cannot do business unless they are also enrolled in the united states. LLC ? So they ought to fall under US jurisdiction.
    And it ought to be under US NFA control and rules because they are operating there.
    You have to learn first to which nation's law they are bound to. Probably look under the contract you signed up with them.

  10. #10
    Member Bates's Avatar
    42
    They're under Authority of Law.. As well as their owner is under investigation. . I talked with them by telephone. They said wait untill monday. . They wil updat on monday. .
    I have one query. . Now it is for certain that Tradex is shuting down.
    What will occur with our capital? . . Wil they refund us through bank wire? .
    thank you.

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