[forex scholar]

I came across this excellent post about the lack of regulation in Switzerland, as confirmed by Swiss Regulators themselves. Be very wary of doing business with a broker in Switzerland until the market gets regulated over there.

Originally Posted by minter
I requested info regarding a FX Brokerage firm in SWITZERLAND.

The first reply is from SBFC (Swiss Federal Banking Commission) and the second reply is from MLCA (Money Laundering Controlling Authority) .I personally do not feel the SWISS regulators are not as proactive as the US side .What about UK 's FSA ? I will try to find out .

Dear Sir ,

For the time being, financial intermediaries providing foreign exchange trading are not subject to licensing by the SFBC, provided that they exclusively deal in foreign exchange on the spot market. It is however intended to amend the law to the effect that foreign exchange trading becomes a privilege of authorised banks.

Foreign Exchange dealers fall under the scope of the Anti-Money Laundering Act (AMLA). As such, they may be subject - unless they are a member of a recognised self regulatory body - to direct supervision by the AML Control Authority (Anti-Money Laundering Control Authority AMLCA) at the Swiss Federal Finance Administration, Christoffelgasse 5, 3003 Berne, phone +41 31 323 39 94, fax +41 31 323 52 61, www.gwg.admin.ch/e/index.htm. You may check this authority concerning forex brokers in Switzerland.

We hope that we were able to help you further.

Yours sincerely


Secretariat of the
SWISS FEDERAL BANKING COMMISSION


sig. Christina Bürgi sig. Simone Flach
Communication&Media Communication&Media

Schwanengasse 12
P.O. Box
CH-3001 Berne
Phone +41 31 322 60 69
Fax +41 31 322 69 26
mailto:simone.flach@ebk.admin.ch
http://www.ebk.admin.ch




CH-3003 Bern, FFA, AMLCA, bdu
By email

xxxxxxxxxx@yahoo.com

Sir ,
Our reference: 10-9/VER2007/wj

Bern, 31 August 2007

Re: List of regulated forex brokers in Switzerland

Dear Sir,

We acknowledge receipt of your inquiry of 30 August 2007 and have to inform you that we cannot supply you with the requested list. Forex companies are not under prudential supervision. No security for deposited funds is therefore given and no supervision of the quality of the services provided takes place.

Yours faithfully,

Anti-Money Laundering Control Authority
Brigitte Dumont Judith Wyss
Adm. Assistant Adm. assistant