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I don't have any experience using TadawulFX.ch as a forex broker. If you have used them to trade forex, please leave a review.
Ramzi Chamat, Switzerland
Rating:
No Rating
Date of Post:
2008-12-11
Review:
Dear Michael,
I would like to reply to your comments on TADAWUL FX as I feel you have been misinformed. In order to verify that we do indeed have the appropriate Registration Licences from Switzerland, I urge you to check with the Swiss Embassy in Germany, who will confirm to you that we are Swiss Regulated.
Regarding our choice of expansion to Cyprus, as the SFDF decided that all brokers should have a banking licence, many of us were left with little choice as it is not feasible to deposit 20-30 million just to offer Foreign Exchange brokerage services. The fact that Cyprus is now also a member of the EU was a huge factor and also as the Middle East and other Arab countries are priority markets for us, it was an obvious choice. If you would like to examine the Cysec license we have applied for, which is quite robust, please feel free to view all the information and directives here: http://www.cysec.gov.cy.
I would invite you to try our services first before you judge us, as we pride ourselves on superior customer service. We appreciate that nowadays traders are not only looking for better spreads and conditions but also Service. Unlike some of our competitors, with TADAWUL FX the spread is always fixed, we guarantee your stop losses and you can take profit even during the current crazy financial crisis market. Regarding the withdrawal of funds, it takes 1 day if you send the withdrawal of funds before 2pm which is the cut off time for banking transfers from Switzerland. This means that everything can be verified.
You are correct in the fact that TADAWUL means Trading in Arabic. As many of our clients are in Arab countries, and we offer products tailored to their needs, this was a logical choice of company name for us.
Whilst we cannot please every forum visitor (or employee of other forex brokers) who likes to place misinformed commentary, we do of course welcome any constructive comments from our esteemed clients and they are invited to email us directly or call us to resolve any issues they may have. We are always happy to meet our clients in our offices both in Switzerland and Cyprus where we are registered. Michael - please do not hesitate to request a face to face meeting if you would like one.
Ramzi Chamat
CEO
Tadawul FX
xavier O.-CH, Switzerland
Rating:
Date of Post:
2008-12-09
Review:
Dear Traders,
I was a bit desapointed by the response of Michael. It was a bit too pushy. From my part, i decided to work with TADAWUL FX because i needed a MT4 to put my EA. I had an account with another broker and had many problems because my EA was scalping. with TADAWUL FX i am receiving a 2 pip spread on EUR/USD, USD/CHF, USD/JPY, 3 on GBP/USD and 50 cents on GOLD. Execution is automatic and no trader intervention like other compagnies here in switzerland. Also in this fast market they guarantee stop losses and take profits. Deposits are done within 30 minutes after you send them the Swift message , I know that they do not do it for all the customers but for me they did it maybe because i hvae been working with them for more than one year. and withdrawal 2 hours if your account is in Switzerland and if you do the transfer in Swiss Franc. i do not have anythign to say except sometimes their compliance is quite haevy but this shows their professionalisme since they are affiliated to arif. for traders this is very important, you can find their company in www.arif.ch.
Thank you
Xav.
Hans, Switzerland
Rating:
Date of Post:
2008-12-09
Review:
Dear Margo,
I agree with your comment.I found this website searching for forex forums and reviews and found the name of my broker. I am wokring with TADAWUL FX since begening of 2008. So far I am very happy and as Margo stated in this forum, their services is just excelent and the staff is always here to assit. Their system is one of the best as a lot of traders know mt4, their execution and conditions are also very good especially since recently they have lowered the spreads and allowing scalping and EA. They are folowing the trend of the market and this is what people are looking for. I do not have anything else to add. continue liek that TADAWUL FX.
For Michel, I visited them to open my account. They exist. :)
Francis Hans
Margo, Germany
Rating:
No Rating
Date of Post:
2008-12-06
Review:
I have a brokerage account with TADAWULFX and have found them to be honest, responsive and courteous. If I have any questions, I receive answers immediately. Their business methods for opening an account are very thorough. They do have a SWISS registration number so I don't fully understand what your complaint is with the company. They can document who they are and where they are registered. As I said, I have an account with them and there rates are no different than any other broker and I have found them much more responsive.
GT, USA
Rating:
No Rating
Date of Post:
2008-11-30
Review:
I have visited Cyprus this month as a part of my due dilligence before I would have any of my associates and clients invest money with this company and I must say that from all indications I have found a a Forex broker who does exhibit honesty and clarity. Thus far I can't comment on the durability because I have only invested funds with them just a month ago. I can't comment or can I substantiate if TADAWUL FX has been chased out of Switzerland because of any unscrupulous practices. Regarding the claims of a "living room office" in Switzerland doesn't concern me but the office in Cyprus was very well appointed, phones ringing constantly and I was at the office with the staff from 10 am till 7pm. These guys work!! This is not a fly by night company. For those of you who are making these claims I would say to you go and see like I did. I spent 12 hours on the plane to see these guys eyeball to eyeball. I have done as much as I can do regarding due dilligence which included background checks on the principal(s) of the company which was conducted by a former FBI agent who has the capacity to find out sensitive information on anyone anywhere in the world! Regardless of how much due dilligence one does and any contract one signs with a forex company at the end of the day its about TADAWUL FX being what they say they are which is a company that exhibits HONESTY, CLARITY and DURABILITY.
If a forex company has ill intent then there is not much you can do once you invest other than to be an easy target. And no amount of regulatory control can curtail that. An example of that would be the the financial markets in the US where companies literally lost of billions of client dollars and not one person from any of the financial brokerage houses have gone to jail and the our goverment is bailing them out for being incompetent!!! But in the time I spent with them I find them to be much smarter than that.TADAWUL would be absolutely foolish to affect me and lose out on client funds I have access to which is over $3 million dollars. I will say that my due dilligence efforts have not ceased and are ongoing so if I find out that some of the claims that have been made on this blog are found to be true I will be the first to come back and and report to this blog and others blog sites and advise potential customers to stay away from this company. Thus far I am pleased.
Michael, Germany
Rating:
No Rating
Date of Post:
2008-11-10
Review:
Dear Thomas Papantoniou (representative of Tadawul FX), Cyprus :-))
I have nothing to regret from my forum words. What can people expect from a Broker who writes as headline on their Website:
The Swiss FX Leader in the Middle East.
Swiss! domain .ch!!!
They are NO Swiss Company and they are not at all a Forex Leader. Their website - even their Domain - shall people make think that they are a Swiss company, reliable, stable, secured and whatever people think about Switzerland.
Lies, lies, lies. And why do they expand to Cyprus? Because - as James stated - the SFBC (Swiss Federal Banking Commission) chases all these dubious companies out of their country.
And all of them go where? To Cyprus. The next Broker Heaven for former Swiss Brokers.
I do not claim about the Brokers - I only claim that they try to give people a wrong picture of them in order to get their money. They are just a bucket shop and many customers can prove this.
Tadawul is an Arabic word for Trading.
And Mr. Representative - can you say anything against this now?
Thomas Papantoniou (representative of Tadawul FX), Cyprus
Rating:
No Rating
Date of Post:
2008-11-08
Review:
Regarding the post of James Klaiton, again I’m disappointed, TADAWUL FX has not posted anything on this forum or any other forum that states that we are a company that is regulated by the Swiss federal Board and that as such clients are protected from anything or everything in the world.
The Swiss federal Board regulations basically ensure that Forex companies do not accept or participate in Money Laundering. This is mentioned in my last post on this forum and on our homepage www.tdfx.ch because we do follow the Swiss regulations as well.
TADAWUL FX also follows CySec which regardless of Mr. Kleiton's opinion is a European regulatory board and abides by European standards.
Once again it is clear to me that Mr. Kleiton is either working within a Forex company or is an IB for a Forex company, which is why it is crystal clear from his post that his opinion is in a most aggressive and unprofessional manner.
On a personal note, please refrain from insulting my country of origin, you cannot make a statement saying Cyprus was keeping Russian Mafia money during the 90’s, which first of all is an insult to all Cypriots and Russians, and secondly, this is most unprofessional.
In the future if you would like to put across any discussions in a professional manner, backed up with facts then I will be more than happy to discuss them here on this forum for everyone’s viewing.
James Kleiton, UK
Rating:
No Rating
Date of Post:
2008-10-31
Review:
Regarding the last post. I came across this review in search of a good forex broker. What Michael from germany stated is correct. Switzerland DOES NOT regulate forex brokers (no one does although UK's FSA attempts to do that). I lived and worked in Switzerland for a bank and the only think the swiss guarantee is deposits in banks (up to a certain limit). People from third world countries have set up forex businesses in Switzerland precisely because they know that in the minds of people Swiss is associated with regulation and control. Nothing could be further from the truth! Swiss quality and banking industry are far not what they used to be. The financial industry has been penetrated by foreigners who have lowered the standards to an unbelievable lows - but thats a different topic of conversation. The self regulatory bodies in Switzerland are just clubs with large annual fees and some vague money laundering laws that quite a lot of people know how to go around. A forex broker in Switzerland is slightly more reliable than a broker based in Belize and similar tax®ulation free places. Hence why the Swiss banking industry is going against the FX companies in Switzerland because they erode the Swiss banking image. With the exception of the russian guy who runs Dukas copy (his father was a nobel prize winner in Mathematics) all other companies based there are real thieves (although I am sure that Dukascopy also employs some shady practices).
With regards to Cyprus. Well...what can I say about an island that kept most of the russian mafia money during the 90's and a place where business is done the mediterenian way i.e. not in a strict fashion and most of the businesses grow on having a "kombaros" here and there, registering with Cysec is as difficult as making a good suvla (barbeque).
Cheers
Thomas Papantoniou (representative of Tadawul FX), Cyprus
Rating:
No Rating
Date of Post:
2008-10-12
Review:
It never ceases to amaze me the unprofessional and basically rude manner in which certain people express their false opinions.
As soon as I saw this posting, it was clear that the person that wrote it is not only an unprofessional individual but also has not even gone to the trouble of checking their information before making false accusations.
In my mind there is no question that this person is deliberately trying to manipulate the general public’s opinion and is most likely working for a Forex company that is trying to fight off the competition in a most unprecedented manner.
Someone that starts off the expression of their opinion with ‘what Bull..t.’ is not someone others should listen to or even give a moment of thought to.
In order to correctly educate the general public, TADAWUL FX Ltd clearly states on the website that the SWISS Federal Department of Finance basically checks for Money Laundering Issues which are regulations in their own right.
Also to bring everyone up to date we have now filed for CySec which is a European Regulator as TADAWUL FX Ltd has expanded to Cyprus. So to clarify TADAWUL FX Ltd does NOT have a ‘Living room named office in Switzerland’ (false accusation).
Finally I welcome any questions or enquiries that anyone may have so please feel free to e-mail or call TADAWUL FX Ltd offices, the contact details can be found on our website www.tdfx.ch.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all
investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in
foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you
should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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