13 reviews of FXCH are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
This is scammer not broker . I have very bad experience with him . Stay away from him . If you have real account there go out ASAP .
Demo account works very well thus enticing you to open real account with minimum $2000. That's when you get hit really hard.
This is my email sent to FXCH after I closed my account. Stay away from this scam broker. My account number was 4xxx which means they bluffed even on the number of clients they have.
I was your customer A/C No: 4xxx which has been closed upon my request.
I would like to seek compensation, being the losses I suffered from open an live account with you, detailed as follows:
1) wire tranfer charges remitting fund to you $40.00
2) account closing fee $100.00 charged by you
3) 2 trades cheated by you
2011.09.19 02:09 254417 $84.97
2011.09.19 02:28 254418 $85.05
The total amount is $310.02.
The reasons to support my claim from you are:
1) You expressly stated in your website that you allow your customers to trade mini lot but prohibit them to trade mini lot in their live accounts.
Proof from your website:
"1 pip spread on all currency pairs
Margin: 500:1 or $200 per standard lot and $20 per mini
Minimum account size is 2000 USD
Opening accounts in multiple currencies.
Trade mini and standard lots on the same platform and account"
Without any doubt, it is a fraudulent misrepresentation with the purpose of inducing me wishing to trade mini lots, to fall into your trap.
2) You clearly manipulated the prices just to hunt for my stop loss prices. I have your screen shots to prove that you have been willfully doing so. There weren't any such prices quoted world wide when my stop prices were triggered by your system.
I hope you can make good my losses due to your dishonesty as soon as possible. Failing which I will seek my remedy through other legal means which would greatly jeopardize your reputation and your future revenues.
FXCH is using a different price compared to the other brokers. When FXCH is using f.e. a price for the EURUSD of 1.816 then the other brokers are using a price of 1.800. The difference of 16 pips are to your disadvantage.
WARNING. Be very careful.
I'm using Forex-swiss.com for almost a year. Great 1-2 pips spreads and they fill my orders extremely fast. Very important to me they send funds back in the same day of withdrawal.
For the Demo account FXCH is using 1 pip.
For the Real account FXCH is using 21 pips.
Please warn people that FXCH are a scam.
I have lost money today where they have manipulated the prices ( I used another real live account of another broker ).
They do not put real money into the market and forces people to lose the money so they pocket it!
PLEASE PLEASE WARN PEOPLE !
FXCH - Foreign Exchange Clearing House - http://www.forex-swiss.com/
is a broker who steals money to traders:
- Slippage are very high;
- not refunded money after the closing account.
are therefore of the robbers.
Not publicized more this broker villains.
After the questions no longer respond to e-mail.
Not respond to chat.
Recently I tested this broker. I've been scammed and I can prove it!
Live account and demo have two different quote-feeds and live quotes are manipulated (see the file: http://rapidshare.com/files/286650693/ManipulatedQuotes.xls ).
Executions on live account takes 10 secs on average.
Additionally, 7 of 11 my orders executed with huge (about 15 pips) slippages. By opening and by closing all my orders I used an "Enable maximum deviation from quoted price" feature combined with "Maximum deviation=0 pips". Therefore, all executions mentioned above are illegal (You can see attached files here: www.forexpeacearmy.com/forex-forum/scam-alerts-folder/4415-forex-swiss-com.html#post21433 ).
Finally I cannot withdraw remaining funds...
Do yourself a favour and stay well away from this brokerage.
Sorry, I should rate FXCH as SCAM.
Please review my Demo and Live account with FXCH. No free lunch. 1 pip spread for all major currency pair is a SCAM. Live account will delay and requote to make you lose money.
I knew my result is idiotic. But please don't ever try to deposit (min. USD2000) to them or you will burn you money. SAD :(
FXCH = SCAM (No free lunch. 1pip spread is a SCAM)
I am running several selected broker by reviewing this site: http://www.100forexbrokers.com/
Low Spread, Allow Scalping, etc.
I selected FXCH, ITFX, Tadawul, FOREX.com, FXCM, FXDD, FXPro, IBFX, Alpari UK.
With deposite USD10,000 after 1 month (07/07/09-02/09/09).
Stredegy with RUNNING FAPT:
(EURCHF> LRR=55, EURGBP> LRR=11,MaxSpread=4,USDCAD> LRR=10, GBPCHF>LRR=10, MaxSpread=10),
MD (EURUSD), IvyBot (USDJPY,EURJPY,EURUSD,USDCHF).
1-FXCH =USD 30,874 (200%+) WOW!!!
2-ITFX =USD 13,760 (30%+) Comission 1pip=USD10
3-Tadawul =USD 13,362 (30%+)
4-FOREX.com =USD 11,511 (10%+)
5-FXPro =USD 10,293 (2%+)
6-Alpari UK =USD 10,108 (1%+)
7-IBFX =USD 9,538 (-4%+)
8-FXCM =USD 9,387 (-6%+)
So, I ignored about the FXCH bad comment on FPA as:
And Deposite USD 2,000 (min.) to try FXCH live account on 02/09/09. (Thaz Idiotic).
I trade with FAPT (EURCHF> LRR=55, EURGBP> LRR=11,MaxSpread=3,USDCAD> LRR=10, GBPCHF>LRR=10, MaxSpread=10),and MD (EURUSD).
I lose USD 800 in the 1st day. All lose.
But the demo account of FXCH with USD 2,000 deposit That I run parellely All Win . Got USD 300.
Conclusion: FXCH is a SCAM. My acc number is 3xxx. meant only 3000+ people is using FXCH? I dont know. I am going to Deposit nicer name broker of Tadawul or Forex.com. Believe the advice from forum. Or lose money like a idiot just like me.
FXCH is a fraud. They move the market against you, sas soon as you enter an order and they block the order to have a spread of more than 15 pips!! At all cost stay away!!!1
Very bad broker! On demo very fast, but live account very-very slow.
Rate not real, differ from real rate -15, +20-25 pip. Not recommend nobody!