Dear clients,

reference is made to our previous e-mail about CROWN FOREX SA

Dear clients,

The Swiss Financial Market Supervisory Authority (FINMA) has rendered on May 18, 2009 a decision opening the bankruptcy of CROWN FOREX SA as of Tuesday May 19, 2009 at 08:00 am (Swiss time).

The decision will be published on May 29, 2009 at 10:00 am (Swiss time).

Philippe von BREDOW and Laurent WINKELMANN have been appointed as bankruptcy liquidators by the FINMA.

Effective immediately, as of the date and time of the bankruptcy opening, the activities of CROWN FOREX SA are suspended, the company, its Directors and officers are forbidden to make or receive payments, and all the clients

This broker is scam! You lost all your money!

The switzerlad financel supervisory authority ascertain against crownforex because it`s SCAM! DONt open an account by this company, then your money goes in the trash.... ;-)

Don't Trade with CFSA, I sure your fund can't return !!!!!!! Loss on the trading is the commonplace, but can not withdrawal of the fund self, this is a robbery !!!!!! Which did said goodness about CFSA , they are deceivers !!!!!

They had aied \"no swap \". But They had charge $20,000- from me for 2years swaps .

I have tarded at tiis boker while 2 years.
But I have not reseaved whithdrawl $20,000- from last year.
Please attention this broker.

I have problem withdraw my account with CrownForex. It has been 3 weeks since 17th dec 2008. They said that they have review from Swiss Federal Bank Commission and withdrawal can be done at the end of January 2009. I hope that they don't lie to me.

I would like to inform everyone reading these reviews and forums of my bad experience I had with Crown Forex.
I had been trading with them for a few months with no problems. One night I then received a message through my trading platform that my account had been closed. I had two positions open at that stage, these positions where also closed without prior notice. I then decided it was better to withdraw my money and look for another trading company. All my trades had been long term trades with take profit and stop loss orders in place at all times.
I then had a major battle trying to withdraw funds, Crown would not answer emails and when phoning them would give me a different excuse why my money was not sent. I then posted my problem on the forums with forex peace army and discovered there where around 12 people with the same problem.
Eventually after almost one month I received my money. I was one of the lucky people though, I beleive most of the other people are still trying to get there money out after more than 3 months.
My advice is to look at other companies reviewed on forex peace army with good reviews.
Have a look on the scam alerts forum on this website you can read more on the problems with Crown there. The only credit I can give them is that they did finally pay me out after a month.
As for the other people still waiting for their money, I hope you all finally get paid.

Crown has exceeded my expectation from day one. Decent customer service via email and love the platform (It serves my trading perfectly). Overall, highly recommended.

That said, I'm annoyed by the discussion in these forums that appear aimed at giving Crown a bad name when, to my knowledge, it is completely unwarranted and unfortunate that the moderators of this site allow good brokers to become so easily smeared by unsubstantiated online claims.

Review Moderation Team Note: The FPA has been attempting to help traders who have had problems withdrawing money from Crown Forex since October. We can confirm that there are real issues.

We have also received confirmation from the Swiss Federal Banking Commission that Crown Forex has been taken over by Swiss regulators. We hope this can all be worked out. Until it is, the FPA recommends against opening accounts or depositing money with Crown Forex.

this is the text confirmation that investigators from the Swiss Federal Banking Commission have taken control of Crown Forex's legal affairs.

As you probably know, the Swiss Federal Banking Commission (SFBC) is the supervisory authority for the banking system, the collective investment schemes, the securities and derivatives exchanges and the securities dealers in Switzerland. Crown Forex SA, Bassecourt is not authorised by the SFBC to conduct business as a bank, securities dealer or in the domain of collective investment schemes. Please note, that if you cannot find a company on our website www.ebk.admin.ch (authorised institutions), it is neither authorised nor supervised by the SFBC.
If there are grounds for suspicion that a financial company is carrying out an unauthorised activity, violating laws or that there are risks for insolvency the SFBC will conduct investigations to establish the facts and, if necessary, take measures to protect investors' interests. The SFBC is in fact conducting an investigation to screen the activities of Crown Forex SA. On December 9, 2008 the SFBC has appointed a mandated investigator - Laurent Winkelmann, Chne-Bougeries and Philippe von Bredow, Cligny as its agents to conduct these proceedings. Crown Forex SA commercial activity had to be suspended, its management is not allowed to speak or act for the company. This right is reserved to the investigators. It is currently not possible to withdraw money from Crown Forex SA accounts. The above information has also been published in the Swiss trade register.
Depending on the investigator's report, the SFBC will decide how to proceed and may publish its decision on its website. We hope that we were able to assist you. For the time being, this is the only information we can provide.
Yours sincerely

CROWN FOREX IS THE PROFESSIONAL SCAMMER
WITHDRAW YOUR MONE

I have been with my Crown live account for seveal months. Their advantage is 1pips of spreads always, and they are honest broker in my experience because my TP and SL were always well reached to my will .Recently,however, it takes more than 20 seconds to finish an operation most of the time!! So requotation is often encounted because of the slowly excution time.
Another disadvantage is that your TP and SL should ofen be 31 spreads away.
I had one Withdrawal on november with amount of 2800$, it took about 8days before the money arrived at my bank account.
I am considering to change a broker because the MT4 platform of Crown is too slow for me, but after all I give them 3 stars.

I have been active with Crown Forex for more than three years and am quite satisfied. The spreads and fills have been executed and deposits and withdrawals accomplished on a timely basis. The overall experience is superior to that I have had - and heard about - at other brokers.
I intend on continuing trading with CF and reccomend to others.

Please complain about slippiage with Crown, but take this into consideration - Crown has 1 pip on the GU, currently FXCM has 10 pips. so even if crown slip me 1-2 pips I'm still in front of FXCM and other non fixed spread brokers at the moment.

I have dealt with Crown since 2005. I have both personal accounts and hedge funds that I manage there. I know of at least 8 other large hedge funds that trade there as well. I have verified that Crown has prime brokerage with UBS, Deutsche Bank and Credit Suisse. I have never had a problem withdrawing funds at Crown (tens of millions). Claims like this from other traders always have to do with filling out forms wrong or trying to have Crown send a third party wire. (Third party wires are in direct violation of Swiss anti-money laundering.. it is illegal in Switzerland and Crown won't do it.) TRUE.. Crown has poor customer service.. TRUE... Execution is poor If you are trying to scalp or run statistical arbitrage..... I have personally been to their offices multiple times in Switzerland and Dubai.. I have also been to their technology company three times in Amman, Jordan where they staff about 75 people just for tech support.. Crown is on CNBC middle east every day. KPMG is finalizing their Swiss Banking License in the next 5 months. DukasCopy and Crown are by far the 2 best brokers in Switzerland.. I deal with Dukas for larger size orders and short term algorithms.. and deal with Crown for the Sharia (no swap) liquidity and smaller traders wanting to use MT4.. Crown is not the place you will be able to execute a 300 Mill trade at 1 pip.. but when you are trading 5 mill or less a clip.. they are fine.. Crown also offers bank guarantees from their prime brokers - so funds are about as safe as they can be...