Swissbankers.pw Review Is SwissBankers a Scam or Should I Invest

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Jail Swiss Bankers For Their Atrocities

The only court these days where central bankers can be held accountable for their misdeeds is in the court of public opinion. Every central banker is guilty of price fixing in one way or another, and the ramifications of their actions can be felt far and wide, especially in the wallets of we lowly consumers. Yet, even when billions of dollars are the consequence, as was the case when Swiss banking authorities abruptly lifted their 1.20-peg to the euro , global prosecutors sit idly by on their hands, ignoring the massacre before their eyes and preferring to go after less onerous crimes and misdemeanors.

Part of the natural grieving process is to reach the anger stage, right after acceptance and denial have held sway. Retail forex traders should be angry right about now. For some reason, Thomas Jordan, the chairman of the Swiss National Bank (SNB) and ringleader of the assault on the forex industry, has remained free for days, far from the handcuffs that should be chafing his wrists. As they say, he must have friends in high places, surely now amongst the export trade in his country. Removing the peg was a boon for this sector, but a bust for Swiss consumers and forex traders, just the same.

Forex brokers were hit the hardest and the quickest

For the foreign exchange industry, however, the carnage caused by the Swiss u-turn has been felt far and wide. This “black swan event” is the third in as many years that the forex industry has had to absorb, and none were directly due to misgivings in the trade. In 2020, we had Cyprus, where forex brokers went down and client funds were seized because the two major banks on the island got way too deep into worthless Greek bonds. In 2020, the Russian Ruble plummeted, but Putin’s gambit in the Ukraine, followed by heavy trade sanctions and falling oil prices, was the root cause, not poor forex controls. Lastly, the Swiss Franc Debacle resulted over the heavy screaming of a few exporters that were crying foul over a peg that never should have been created.

Yet, in each case, the forex industry has had to take it on the chin, get up off the floor, dust itself off, and charge back by rebuilding its image and restoring the confidence of its broad and global customer base. In that vein, most every brokerage house, to their credit, has declared that they will not try to recoup losses sustained by their clients. Stop-loss controls did not work properly during the chaos. If there is a place where greed holds sway, then it is with liquidity providers, the large banks in the system, which are forcing re-quotes on a number of contracts to protect their collective behinds.

Independent and bank-owned brokerage houses were hit the hardest at first report, but then the reporting coverage moved on to managed funds and those notorious risk takers, the highly leveraged currency hedge funds. The losses of FXCM (NYSE: FXCM ) ($300 million) and of Citicorp and Deutsche Bank (NYSE: DB ) (purported to be $150 million each) paled in comparison to the collapse of the Everest Capital Global Fund, which had over $830 million under management. The true extent of the damage, however, may never be known, and the impact on the Swiss economy is yet to be determined.

Is it all bad news on the retail currency trading front?

Reporters that attempt to write about the forex arena often state that there is always a winner on one side of a forex trade and a loser on the other end, since a pair of currencies by nature involves two different parties with disparate interests. This over-simplification runs counter to conventional wisdom taught in elementary economics that a market balances competitive forces such that each party to an exchange is satisfied. There undoubtedly will be stories of a few individuals that made out like bandits when the Swiss franc surged, but this black swan event concentrated the losses amongst a few players, namely brokers that permitted highly-leveraged and automated trades to blast through unduly low margin requirements.

It has also been reported that retail positions for the “ EUR/CHF ” pair were typically 90% long on the CHF side, but, due to expected changes in the market, this balance had shifted to 50%. If that were the case, would not brokers have broken even? Not necessarily! It appears that the elephant in the room is the liquidity provider. They are the ones that soaked up the profits that were had. This fact may also be the reason that you do not hear Citicorp moaning and groaning over their retail client trading losses. To date, they have not disclosed how much money they made on the liquidity supply side. We would estimate that the gains were well in excess of the $150 million of retail losses.

What else is out there to worry about in the forex world?

Central bankers have already been warning for a while of more liquidity crunches to come. Near-zero interest rates have brought about a chase for higher global returns that can only result in disaster at some point. The Fed is scheduled to raise interest rates during the second quarter. The ECB and BOY are set for more quantitative easing. These attempts to corral market forces are tempting the Fates, as well. At some point, the market will bust out of these artificial restraints. The only question is when, and you may forget about jailing the banksters. They rule by fiat.

For now, follow the advice of Bette Davis: Fasten your seatbelts, its going to be a bumpy night!

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SWISS CASH! real investment or scam.

we heard alot ablout online scam like 12dailypro(i lost 5k USD) etc.

and this “swisscash” program smells like 1 of them.

this site give u 300% of ur investment after 18 months(one and half year).have u guys heard about this “swisscash”?coz the site says that they doing business in malaysia,china,vietnam,japan internationally.what u guys think?

here s the link.

have a lot and give ur opinions ok?!thanxs!

Swissbankers.pw Review: Is SwissBankers a Scam or Should I Invest?

USD206,000) in Singapore, what would be an equivalent gross salary in Zurich such that the same standard of living can be maintained?

2. What is the expected salary range of a VP/Director-level investment advisor in a reputable Swiss private bank in Zurich? 38-year-old male with a Masters degree and 10-years of relevant banking experience

I’ve already consulted Mr Google but would like to hear more / more up-to-date opinions. Thank you!

There’s plenty of info on here regarding the cost of living in Zurich. Costs haven’t moved that much regardless of the age of the thread.

If your base is USD 200k in SG, I doubt you will get an offer in Zurich as VP/DIR that will give you a comparable standard of living.

From discussions with a colleague who went the other way, I know that you will pay more tax in Zurich, accommodation costs are comparable (depending where you want to live) and you will certainly pay more for dining out and any service related expenses in Zurich.

I would say you should ask for an ED level and 250+K base plus the ED bonus.

You can ask. I don’t see either of the big 2 paying that much for the role described in the current environment, particularly as VP is mentioned, which suggests that is the OP’s current level and they may be trying to get a title upgrade.

One of the smaller banks – if they are desperate, maybe, but it still sounds aggressive to me.

This user would like to thank ch2020 for this useful post:

Thank you; this helps a lot. I’ve actually been on several of the calculators /cost comparison type websites but there’s a lot of culture differences /reading between the lines here!

My main concerns are if the financial terms are equivalent in terms of spending power to what we have in Singapore AND if the figure makes sense for the above profile in Zurich.

Title /position is not an issue, although based on what I’ve read, Swiss firms seem to tie the salary very closely to rank? It also seems that financial institutions in Europe don’t pay as handsomely as in Asia?

USD206,000) in Singapore, what would be an equivalent gross salary in Zurich such that the same standard of living can be maintained?

2. What is the expected salary range of a VP/Director-level investment advisor in a reputable Swiss private bank in Zurich? 38-year-old male with a Masters degree and 10-years of relevant banking experience

I’ve already consulted Mr Google but would like to hear more / more up-to-date opinions. Thank you!

There’s no single answer on the cost of living.
Trying to replicate SG life in Zurich will be very expensive in Zurich terms
Eg eating out, serviced apartments, home help
Equally vice-versa
Nice cars, Trips to snowy mountains

I can’t say how well Asian banks pay, but I do have a good handle on how much basic salary Swiss banks pay and are paying now. See my previous comments.

There’s no single answer on the cost of living.
Trying to replicate SG life in Zurich will be very expensive in Zurich terms
Eg eating out, serviced apartments, home help
Equally vice-versa
Nice cars, Trips to snowy mountains

I can’t say how well Asian banks pay, but I do have a good handle on how much basic salary Swiss banks pay and are paying now. See my previous comments.

That sums it up nicely. Knowing Singapore quite a bit, lets go into some details.

Alcohol in Switzerland is much cheaper than in Singapore, food is the opposite.

Singapore has Malaysia for cheap food/eat, we’ve Germany. Quite equal

Hotels are s*** expensive in both countries. Flats and houses are cheaper in Switzerland (still expensive compared to Germany, just like SG to MY)

Owning a car is MUCH cheaper in Switzerland vs. Singapore, riding a cab the exact opposite. You don’t “commonly” get a taxi in Switzerland, just not.

Public transport – for the city it is – in Singapore is good, in Switzerland, for being a full-scaled country, it’s better. Obviously cheaper in Singapore, but not expensive in Switzerland at all.

Some non-monetary things: Switzerland isn’t THAT much as Singapore often appears to be. From a scale of 1 to 10, Switzerland is like 8, Singapore like 10, lah

That said, in Switzerland wages are MUCH more equal. We don’t abuse cheap labour as Singapore does. Thus you can’t get a half-slave like in Singapore cleaning your house and doing your laundry for close to free (less than what, 5% of your salary for a 100% job..)

This user would like to thank eyebeebe for this useful post:

I lived in Zurich and Singapore the last couple of years, feel free to ask.

From discussions with a colleague who went the other way, I know that you will pay more tax in Zurich, accommodation costs are comparable (depending where you want to live) and you will certainly pay more for dining out and any service related expenses in Zurich.

I would say you should ask for an ED level and 250+K base plus the ED bonus.

Accomodation costs are not that comparable. Singapore is way more expensive if you compare similar quality flats with a similar size. which is honestly not that surprising given the population density. On the other hand do condos typically include swimming pools, gyms, tennis courts. so if you use the facilities and then calculate what a tennis court rent in Zurich costs. I think this will lead you to the basic conclusion: The question is flawed from the start: Life styles are very different and so can’t there be one salary chart answering how much you need to live the way you expect.

Simple and short pointers:
– Apartments in Switzerland are way larger and usually more affordable. Europeans will think I am crazy when I say so, but they don’t know housing prices in Asian cities.
– Taxes. Singapore is of course awesome and especially very simple. Switzerland has a more complicated tax system which takes some effort to understand. Taxes vary a lot depending of the place you live in. There are several low tax options around Zurich (The cantons of Zug and Schwyz) that bring your taxes down to a comparable level to Singapore.
– Cars. You can literally buy a decent used Ferrari in Zurich for the price of a Prius in Singapore.
– Food: In Singapore can you get everything from 3 dollar food courts to high end cooking. In Zurich will you pay some 30 SGD for a lunch in a fast food restaurant.

I could go on forever on the differences, but I’d put this simple:
– Your life will be different in both places as they are indeed very different. I have lived in a ten year old flat in SG where nobody ever used the cooking hub before me, cause home cooking is not a thing for working professionals. I don’t think there are many days I don’t cook in CH. While I can tell a lot of fun stories about SG cab drivers do I really prefer driving my Porsche in CH. and so on.
– If you need a ballpark: Expect to need the same amoung in CHF you make in SGD. Sounds stupidly simple but is about right.

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