Swissquote deception

jonfuentesx

Junior member
48 48
Hello, I wanted to express my dissatisfaction with this broker so that, if someone had thought to trade forex with them, maybe I could save them from the headache.

I honestly had the highest standard with Switzerland, I have lived there and I thought they were going to take things more seriously, however this broker in particular and particularly with me, has been one disaster after another.

First of all, this broker, which is actually also a bank, has two sections, the banking section and the trading section, and for some inexplicable reason they do not consider investing in the foreign exchange market as trading, so you always have to connect to the banking part and you cannot access their particular trading platform.

On the other hand, you must be careful when taking money to which country you send it. I have an account in a Bulgarian bank, and the commission they charged me to withdraw 400 CHF was 70 CHF. Yes, you read that right.

But what has culminated the decision to end my relationship with them is that they move my stops!

I have an account in darwinex that uses a specific EA to copy operations to other accounts, and while in darwinex operations have closed at a certain level through trailing stops, for some reason in this broker the trailing stops were in another position, and I It has happened not once, but twice, ending the trade earning only 10% of what I should have earned with the position of my stop loss that I placed.

I proceed to copy logs of the same operation of both brokers in an excel to see what had happened, and it turns out that everything was going well until there comes a point in which in a sell operation, instead of moving the stop 1 pip as you would the trailing stop inexplicably moves 50 pips and in the other direction! This has never happened to me.

I sent the excel to the customer service agent and he told me that it was because the bid had to be taken into account, since the broker did not calculate it (?), I replied: is it then the commission of 100 pips? because while in darwinex it closed with 120 pips of profit, in swissquote it has closed at 20.

His answer was to call the "expert" in his cabinet directly, and he offers me a Swiss number that from where I am at the moment the call would be remarkably expensive.

I answered him saying if he could send him the excel since I did not want to pay so much for the call, and he did not answer me again, so I have closed my operations, withdrawn the money and closed my account.
 

tomorton

Legendary member
8,242 1,268
Lots of surprises. Firstly that you were charged anything at all for a withdrawal; secondly that it was so much; thirdly that you have an account in a bank in Bulgaria.

I wonder if you're working hard to make your life harder.........
 

jonfuentesx

Junior member
48 48
Lots of surprises. Firstly that you were charged anything at all for a withdrawal; secondly that it was so much; thirdly that you have an account in a bank in Bulgaria.

I wonder if you're working hard to make your life harder.........

As far as I know several brokers charge for withdrawals, including IB and Darwinex, but the ammount I was charged didnt make any sense.

Do you think having a bulgarian bank account is a mistake? do you have any experiences to share about that?
 
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tomorton

Legendary member
8,242 1,268
As far as I know several brokers charge for withdrawals, including IB and Darwinex, but the ammount I was charged didnt make any sense.

Do you think having a bulgarian bank account is a mistake? do you have any experiences to share about that?
I have no experiences with Bulgarian banks, nor the Bulgarian mafia........
 
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