regulation in swiss?

Hi

does any1 aware of FX Broker regulating institutions in switzerland? there's a swiss based broker(www.neurex.ch) which claims to be regulated by www.polyreg.ch but it's all in other than english text which i don't understand . anyway i'm not sure abt polyreg too who allows them to regulate companies? r they official and have reputation?(they're not famous like NFA, which make me doubt abt their creditability).

- how can i make sure polyreg is trustable as a regulating company?

- isn't there any other regulating companies in swiss? if there exists how can i know their regulating situation regarding neurex?

i hope some nice ppl who understand that text would help me. TIA


....................................
Kako

kako said:

Hi

does any1 aware of FX Broker regulating institutions in switzerland? there's a swiss based broker(www.neurex.ch) which claims to be regulated by www.polyreg.ch but it's all in other than english text which i don't understand . anyway i'm not sure abt polyreg too who allows them to regulate companies? r they official and have reputation?(they're not famous like NFA, which make me doubt abt their creditability).

- how can i make sure polyreg is trustable as a regulating company?

- isn't there any other regulating companies in swiss? if there exists how can i know their regulating situation regarding neurex?

i hope some nice ppl who understand that text would help me. TIA
....................................
Kako

Click to expand...

Hi all,

in Switzerland business climate is rather free. Brokers regulation is not to hard a burden for those firms, as it is mainly regarding money-laundering.

In case of bankruptcy clients accounts are NOT separated or secured by law, but only by insurance ( and brokers go broke in CH - as banks do). There is no state regulated compensation scheme. And -contrary to common belief- there is no banking secrecy for brokers accounts.

And Polyreg is ONLY involved with money -laundering avoidance.

Hittfeld

Awesome freedom!

Anyone care for a secret numbered Swiss bank account by any chance?

thnx for replies hettfeld and Anonymous.

hetfeld does that no gaurantee in case of bankrupcy is only for CH or it's the same with other brokers and countries?

polyreg website is in swiss lang and i didn't found any name of neurex mentioned in it. how can i make sure they regulated neurex? except bankrupcy item can i be sure my funds r okay with em?

FWIW: there's a broker named forexGI which 1 of my frnds had acc with em. after my frnd made 10k on a 2k acc they closed his acc and never WD any money to him even the first deposited money! this is why i'm looking for a metatrader based but regulated broker. neurex seems nice(i tried their quoting on a real mini acc) but i'm not sure abt regulations.
i'm from iran and can't open acc with US brokers(like IBFX) this is why i'm looking in europe. also because of strat limitation i prefer to have a broker with metatrader as trading platform.

i would appreciate any help