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Attachments: have you ever have problem with Crown?
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have you ever have problem with Crown?

Quoting gutrader
Hi all,

well ages ago I post message about how I was going to visit crown in swiss.. and well I'm back from my visit. Went to their office, met the directors, account staff etc...
So how is your boss doing?
My Experience with Crownforex
They Customer Service Are Very Rude !

Ex:
have a friend deposit his account from more than 10 days and nothing processed, he asked chat support he told him wait why you in harry, my friend said i have 10 days and nothing processed
The Support Guy told him, IF YOU DON'T LIKE CLOSE YOUR ACCOUNT AND GO AWAY !
Charting Markets into the Future...MǎҖ€¥.
And Crownforex Claim they Automated Execution

How Automated Execution While to Execute an order it takes between 3-16 Seconds !!

As i know NDD Execution don't take more than 1-2 Seconds.
Charting Markets into the Future...MǎҖ€¥.
  • Post #44
  • Quote
  • Edited Sep 14, 2008 2:48am Sep 13, 2008 5:51am | Edited Sep 14, 2008 2:48am
Quoting MaXeY
And Crownforex Claim they Automated Execution

How Automated Execution While to Execute an order it takes between 3-16 Seconds !!

As i know NDD Execution don't take more than 1-2 Seconds.
But 3-16 seconds for a execution is not so bad...
Attached Image (click to enlarge)
Click to Enlarge Name: Manet_Execution_Maximilian_1867_Mannheim.jpg Size: 72 KB
Just look up their address on Google Maps. Nuff said.
I was doing very well with crown, my account balance was over $850,000 US. Mostly profit. Then they failed to make a $350,000 US withdrawal in Jan 2008. They threatened to cancel all my existing open trades - in profit. I was threatened that my account would be wiped off their computers. It goes on and on. Yes they invited me to Switzerland, I have Shadi Swais (the Managing Director now) private mobile phone number, they made lots of promises. But I ended down $200,000! I hope the Swiss Federal Banking Commission lock him up!
Quoting BurntbyCrown
I was doing very well with crown, my account balance was over $850,000 US. Mostly profit. Then they failed to make a $350,000 US withdrawal in Jan 2008. They threatened to cancel all my existing open trades - in profit. I was threatened that my account would be wiped off their computers. It goes on and on. Yes they invited me to Switzerland, I have Shadi Swais (the Managing Director now) private mobile phone number, they made lots of promises. But I ended down $200,000! I hope the Swiss Federal Banking Commission lock him up!
$850k with an unregulated, fly-by-night operation in Switzerland? Has everyone forgotten Refco already?
Quoting Trader KGB
$850k with an unregulated, fly-by-night operation in Switzerland? Has everyone forgotten Refco already?
ok, Crown sucks( I've written this in late 2006 after tried their live services...) but Refco WAS regulated by the NFA and it was a listed company........ but SEC hasn't seen Madoff Ponzi till today so even these great US regulators are not so transparent and good isn't it?

Now Switzerland requires banking license for all forex brokers, so funds will be insured...what about the great US brokers?
Quoting FedePresident
ok, Crown sucks( I've written this in late 2006 after tried their live services...) but Refco WAS regulated by the NFA and it was a listed company........ but SEC hasn't seen Madoff Ponzi till today so even these great US regulators are not so transparent and good isn't it?

Now Switzerland requires banking license for all forex brokers, so funds will be insured...what about the great US brokers?
A banking lic doesn't mean that funds are insured. Don't make that assumption.
Quoting biwy
Hehe i asked them where I could find there balance sheet or net assets, but they replied in a really rude way, something like you don`t have to know.

Then i sent further questions and got no reply yet!

Not good enough for me until now
I am new here, I appologise for the old quote I am responding to but here is something that ALL potential Swiss broker clients should view beforehand as part of their due diligence. You should all visit www.zefix.ch, here you will find all businesses registered in Switzerland. By law it will also inform you of each entity's net capital.

Now, as you may or may not be aware, Swiss legal requirements are now demanding that all FX brokers working out of Switzerland obtain a banking license. Part of this license requirement is that the broker have a minimum net capital amount of CHF 20 million, the deadline is 1st April 2009. FYI, when I contacted Crown Forex as part of my DD 2 weeks ago and asked what their net capital amount was, they told me 20 mil. When I copy and pasted the Zefix information, which (still) states the amount to be CHF 4,521,500 and showed them, they said that they would be adding CHF 15 mil in January. Now of course there are all the payment problems that their clients are having, resulting with the intervention of the banking authorities.

Other bewares regarding Swiss brokers (by use of Zefix):

  1. Dukascopy have the CHF 20 million, but look closely and you will see that it is actually the nominative value of their trading platform technology (12 million shares at CHF 1,000). Should something happen to them, you will all get a piece of their platform!
  2. Master Forex are the dogiest of all! They state that they are registered in the Seychelles (nothing wrong with that) but that their HQ is in Zürich. They are owned by Beaverhead Financial. Enter Zefix...nothing, they do not appear. I then contacted Zürich's own registry of Commerce just in case and this was their reply:

"As they claim on their website that they are in Zürich, it is not normal that they are not registered with us. They claim that their office is not open to the public for "secrecy" reasons. We contacted the owners of the building to their postal address who confirmed that they do not know who this company is. Finally, their IP, masterforex.org resolves to 88.85.79.7, this number is located in Utrecht, Holland. perhaps there is a mistake on the website?"

As I live and work here, I want to stay with a Swiss broker (no capital gains tax ). Due diligence helped me find the right Swiss broker in Geneva (ACM), hell they even invited me up to their office...pure transparent, no "secrecy" there.

Quoting James Oak
I want to stay with a Swiss broker (no capital gains tax ).
I'm not aware of an FX broker anywhere that withholds or reports capital gains tax.
Quote
hell they even invited me up to their office...pure transparent, no "secrecy" there.
Bernie Madoff gave his top clients tours of his trading office too...pure transparent, no "secrecy" there.
Quoting Trader KGB
I'm not aware of an FX broker anywhere that withholds or reports capital gains tax.
Bernie Madoff gave his top clients tours of his trading office too...pure transparent, no "secrecy" there.
How true!! As did Ponzi for his Hanover Trust Bank of Boston no doubt! But seriously, on a personal note, ACM have been nothing but professional with me.
Quoting fxterrapin
A banking lic doesn't mean that funds are insured. Don't make that assumption.
A banking license in Switzerland means that all client accounts are insured up to 30.000 CHF!
Quoting onlinefx
A banking license in Switzerland means that all client accounts are insured up to 30.000 CHF!
don't waste your time, they think that NFA is the TOP... when the only useful measure in forex field would be to insure clients' deposits like banks do.
I think Switzerland will be very safe NOW for forex traders with banking license brokers... what about the net capital requirement? no insured at all-----
  • Post #55
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  • Edited 6:30pm Feb 3, 2009 6:23pm | Edited 6:30pm
Quoting fxterrapin
A banking lic doesn't mean that funds are insured. Don't make that assumption.
You are quite right, my friend...But a Swiss Bank is a hell of a sight better regulated than a US FX broker..

Personally having avoided, happily, being wiped out by US regulated hedge fund (Madoff), a US blue chip investment Bank (Leahmans) and a US regulated Fx broker (REfco) .. or a Global economic crash induced by failure at the most fundemental level of mass fraud in the US mortgage securitisation market .... I think a little humility from our American friends in their dismissal of the integrity any regulatory authority other than theirs might be in order.
As a European I am heartily sick of the myopia that informs most US observers..in both the financial and Foreign policy arenas .
You are our friends and will always remain so.. But please, spare us this "made in America" BS. The last 8 years has reduced the credibility of this message to ZERO.

Edit.. Im sorry.. it is not my intention to give offense to my many American friends,none is intended, but sometimes listening to the jingoistic bS that emminates on FF gets to me.
Quoting cliffedwards
You are quite right, my friend...But a Swiss Bank is a hell of a sight better regulated than a US FX broker..

Personally having avoided, happily, being wiped out by US regulated hedge fund (Madoff), a US blue chip investment Bank (Leahmans) and a US regulated Fx broker (REfco) .. or a Global economic crash induced by failure at the most fundemental level of mass fraud in the US mortgage securitisation market .... I think a little humility from our American friends in their dismissal of the integrity any regulatory authority other than theirs might...


First, I was born and raised in Germany.

Also, those securities came through Ireland to the EU. Just because somebody offers you an investment doesn't mean you have to accept it. Take some responsibility! A drug dealer offers you crack and you take it?

As far as this being a U.S. only operation? 100% WRONG! Read about German banks. They had as little risk controls and as much leverage. The EU bankers were thinking with their sausages and not with their heads--plain and simple. As far as Spain, how many of you thought that your housing boom would never end?

I have spent a life-time dealing with Europeans who have a love/hate relationship with the U.S and it's culture. The past 50 years have been formed by U.S. policy and now when there is a slight sign of weakness the 'slaves" can't wait to jump all over the master and take over... the sign of a true coward. Remember the whole USD is doomed era of 2007? Only the US was going to suffer.

No offense intended.
Quoting cliffedwards
As a European I am heartily sick of the myopia that informs most US observers..in both the financial and Foreign policy arenas .
You are our friends and will always remain so.. But please, spare us this "made in America" BS. The last 8 years has reduced the credibility of this message to ZERO.

"I agree."


US is simply the source of the biggest problems, right now.
I'm not anti-american, but that's the reality.
I also don't like the fact that one generally cannot say anything against US without being accused of being anti-american.
  • Post #58
  • Quote
  • Last Post: Feb 10, 2009 6:39pm Feb 10, 2009 6:39pm
Because America think to be like God compared to other nations, it's a little ridiculous but also funny
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