Swiss Dealing

[a_lexey]

Dear fellow traders,

Let me introduce you Swiss Dealing, a new FOREX broker based in Switzerland. Swiss Dealing offers unique services with the following distinguished features:

• No money deposits

• No minimum trade size

• Free Java API

Currently, the service is in a public beta-testing phase, which means that money withdrawals are temporally disabled. We hope to go live in one month with a full integration with Pay Pal.

Please, visit our site and post you comments and suggestions in this thread.

Thank you and good luck in trading!

[Enivid]

Your website claims that you don't even accept money deposits. How are you supposed to make money? And what's the point in not taking deposits?

[a_lexey]

The only difference between us and other brokers is that we do not require clients to deposit money upfront. However, we do accept money transfers to cover negative balance. The no deposit policy is adopted to establish a trust between the broker and its clients (you have probably heard a lot about broker fraud). This is a new business model that may indeed be surprising.

[JEAN]

I don’t get sth… I don’t have to deposit money to trade but I do have to pay when I am negative… when do I win???


I prefer ACMs automatic limited risk system, it prevents you from ever having a negative balance, your risk is only limited to funds or deposit and you will always have at least 1% of your funds.

[Enivid]

Originally Posted by a_lexey

The only difference between us and other brokers is that we do not require clients to deposit money upfront. However, we do accept money transfers to cover negative balance. The no deposit policy is adopted to establish a trust between the broker and its clients (you have probably heard a lot about broker fraud). This is a new business model that may indeed be surprising.

If you tolerate negative balance then how does the margin trading work with you? Does that mean that I can open a position that will get my account balance to -$10,000 at a certain point?

[a_lexey]

Enivid,

Let me be more specific. We work only with mini accounts. Every new client receives a 100$ margin bonus. That is, he/she can use it only as a margin. The negative balance is limited to -50$. Soppose you have a balance of -25$. Then your equity (margin) is 100$-25$=75$.


JEAN,

Your negative balance will be always limited to -50$. If you have a positive balance then you can withdraw it immediately via PayPal. If you have a negative balance you are supposed to cover it whenever you wish. You can still trade with a negative balance (see the reply above).

[Enivid]

Originally Posted by a_lexey

Enivid,

Let me be more specific. We work only with mini accounts. Every new client receives a 100$ margin bonus. That is, he/she can use it only as a margin. The negative balance is limited to -50$. Soppose you have a balance of -25$. Then your equity (margin) is 100$-25$=75$.


JEAN,

Your negative balance will be always limited to -50$. If you have a positive balance then you can withdraw it immediately via PayPal. If you have a negative balance you are supposed to cover it whenever you wish. You can still trade with a negative balance (see the reply above).

OK, but if my account balance drops to -50$ can I add more funds to continue trading?

[a_lexey]

Yes, of course. You can add and withdraw funds freely. The only restriction is that you cannot add funds if your balance is non-negative.

[Enivid]

Originally Posted by a_lexey

Yes, of course. You can add and withdraw funds freely. The only restriction is that you cannot add funds if your balance is non-negative.

But why? Is there some sane reason for that?

[a_lexey]

The major reason is that we are not officially allowed to accept deposit in Switzerland if not a bank. However, money transfer to cover a negative balance is not considered to be a money deposit. Our business model appears to be in compliance with Swiss laws and gives us a clear competitive advantage among micro FOREX brokers.