does anyone know how swiss regulation works? I see a lot of firms registered in switzerland but what kind of customer protections do they give you?
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DislikedHi..
I am one of the tradex client. Well i am much upset right now with the current situation of tradexfx.com ..their other website is online tradexfx.us
. i do have live account worth 29k with them.. and every thing sound's stuck over there..
I talked with them by phone today.. and they said their account has been frozen by Agencies.. because they were providing 6% to 10% per month turnover on their managed account holders.. that's why GOV is behind them..
I guess they are Broker not a Mutual fund company.. so i think it's illeagal to provide %..
But they are handling managed account.. not talking investment . but trading on thier clients account.. anyway.. they must have done some thing illeagal that's why they are under investigation..
and they told me one more thing that TRADEXFX is shuting down..
As far as People's money concern ,they said wait for 4 week .. as soon as our Bank accounts re-activte, we wil bank wire to people 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 correct which they provide me.
Thank you
Hammad
P.S Thier Phone # which is working +1-6173388822 .. no othe rphone is responding .. even their staf isn't picking thier cell phones.
kindly Guide me also , what can i do to get back my money .. i am far away from Switzerland and USA. So what can i do?Ignored
DislikedThey are under jurisdiction of Swiss Law.. and their owner is under investigation .. i talked with them by phone. They said wait untill monday.. They wil updat on monday..
I have one question .. Now it's for sure that Tradex is shuting down.
what will happen with our funds?.. wil they refund us via bank wire?.
thank you.Ignored
DislikedThere are a number of ways to do it.
Like getting the Betreibungsamt to freeze or get an inventory of their assets. Then they are not allow to move away what is visible.
While having that done, most are already on the second level. Usually you are supposed to send in 2 reminders of Tradex to pay you. With one in registered letter form - which in 10 days you can proceed to officially contact the Betreibungsamt to get them to pay or to go bankrupt.
Call here,
Betreibungsamt der Stadt Zug
Fischmarkt 1
Postfach
6301 Zug/ZG
004141 728 31 35
Ask them if Tradex is already on their list leading to Bankruptcy. If it is, ask them how you can get in to the list of creditors. If it is not, ask them for the forms you need to fill up to get them to pay. If they are still in business, they will try to pay you before the betreibungsamt will proceed to shut them down.
Once you are in the list of creditors, there is nothing except to wait.Ignored