Tuesday, April 25, 2006

Traders May be Well Advised to Rethink Doing Business with Forex Brokers and/or Banks in Switzerland

Today an interesting story entitled Conspiracy Theory appeared on 7days.ae, a United Arab Emirates website that details the problems investors have been having getting their assets unfrozen in a Swiss bank. Should the story be true (I have no reason to think that it isn't), it should make anyone think twice about dealing with a Forex broker whose accounts are held by a bank in Switzerland. You make a deposit with them and those funds can be frozen for ten years or longer by a rogue government official who decides he doesn't like one or more of the principals involved.

Anyway, the story makes fascinating reading for those who enjoy the thought that the world is really being run by a small group of people who control everything from the price of oil to traffic signals.

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