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Author Topic: Swiss FX banks?  (Read 387 times)
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trader_maik
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« on: Wednesday, June 30, 2010 - 11:25 »

I heard that some Swiss brokers like mig, dukascopy have received banking licenses. What difference does it make?
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Black Knight
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« Reply #1 on: Thursday, July 01, 2010 - 17:39 »

 
It is the new requirement for brokers from FINMA, the Swiss financial regulatory authority, that they regulated and capitalized to the same standards as their consumer banks.  MIG is on track to meet the new requirements, hence the change in name.  According to FINMA, Dukascopy has yet to meet the requirements, and is currently exploring a move to Cyrus.
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Streetpips
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« Reply #2 on: Friday, July 02, 2010 - 05:38 »

I think it's a good idea, and another thing less hands on your money, even though it's all electronic less banks involved the better to me at least, then the Swiss banking system has the strictist banking standards and money management policies in the game, then you can also have the chance to bank in different currencies if you want your account in yen, euros, pounds it's all good, all though I wouldn't advise a pound denominated account, so when you win in trading you also have a chance to win double from the denomination deferential, but that can be a double edged sword, but still you are most likely to have more security banking with a Swiss account than any other country, why do you think the US is trying to crack down? for one they are broke and they know the Swiss are paid in a major way and they are liquid, second no one knows how much Switzerland really has, you ever thought about that? They could have money as tall as their alp's but one could only guess, China's US bond holdinds, Japan's GDP, and the US national debt could be cupcakes to what they really have. but I'll tell you one thing the US can't look to deep because that's where they keep their money Grin Switzerland has been a country since the 1200's 800 years of banking they know what they are doing they are probaly the richest country in the world..."hey lou CHF, I buy....take it and bid it, yea"
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trader_maik
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« Reply #3 on: Tuesday, August 03, 2010 - 14:45 »


It is the new requirement for brokers from FINMA, the Swiss financial regulatory authority, that they regulated and capitalized to the same standards as their consumer banks.  MIG is on track to meet the new requirements, hence the change in name.  According to FINMA, Dukascopy has yet to meet the requirements, and is currently exploring a move to Cyrus.

Cyrus? As far as I understand they have met the requirements, they are even in the bank list of FINMA.
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