Some brokers like FX Pulp take it to the extreme while others, like the newly established Swiss Dealing, think that all traders are idiots – its new and wildly original promotion is to offer a no-deposit dealing… Don’t they call it Demo Accounts in other places?
Anyways, here is the promotion and I would personally recommend traders to avoid brokers who don’t even list their phone numbers on the contact us page.
SwissDealing (SA) is a Swiss company based in Geneva since 2006. Our business model is oriented towards non-professional individuals that are willing to master FOREX trading without risking large sums of money. We offer our clients a fully automated brokerage service which includes a proprietary trading platform and a Web-based back-office.
Swiss Dealing is a unique FOREX broker in many respects:
- No money deposit. SwissDealing is the first FOREX broker that does not require/accept money deposit. After registration, every new client receives a $100 margin bonus to start trading immediately.
- No minimum trade size. Minimum size of a single position is as low as 1 currency unit.
- Free Java API. Clients with programming skills are free to develop automated trading strategies.
- One-click cash settlement. Money transfers are fully automated and executed in real-time via PayPal.
Frequently Asked Questions
No need to deposit money? What’s the catch?
Swiss Dealing is the first and only FOREX broker that does not require/accept money deposits. To start trading, every new client receives a bonus of $100. This money cannot be withdrawn by the client, and can only be used as a trading margin. With the maximum leverage of 100:1, it allows opening FOREX positions worth up to $10000 = $100 x 100 immediately after account registration.
By not accepting clients’ deposit, Swiss Dealing assumes risks, which call for additional restrictions. Please note that we do not allow the account balance to drop below -$50. Specifically, as soon as the balance of a client’s account hits or falls below -$50, all his/her open positions are immediately closed. The trading will be allowed only after the client has covered (fully or partially) the negative balance by a PayPal money transfer.
Can I have more than $100 as a trading margin?
Yes, but not through money deposit. The available trading margin (called equity) will exceed $100 by the amount of your profit (see the next question for details). According to our policy, you can take higher risks only if you trade successfully.
What does “Your Account” panel show?
Your Account provides a summary of your finances and trading restrictions.
Balance – the realized profit (if positive) or loss (if negative). It does not depend on the current state of the market.
Open P&L – is the unrealized profit or loss of currently open positions. It changes in real time as market prices move. If you close all your open position immediately, this amount will be added to your Balance.
Equity – the sum of Balance, Open P/L and the $100 bonus. It determines the amount of money that can be used as a trading margin. With the maximum leverage of 100:1, the value of all your open positions cannot exceed Equity x 100.
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Margin – the percentage share of the equity available to support new positions.
After account registration, your Balance and Open P/L are zero while Equity is equal to $100. Please note that your account details on this site are not refreshed in real time.
If I have earned a profit, how can I withdraw it?
You must close all open positions and check your Balance. If it is positive then you can withdraw this amount provided that your Swiss Dealing account is verified.
If I have a negative Balance, am I supposed to cover it immediately?
No. You are free to do it whenever you want. You can continue trading but the margin and, consequently, the maximum size of you FOREX positions will be lower. Please, note that you cannot close your Swiss Dealing account with a negative balance.
What is an unverified account?
After online registration, your account has “unverified” status. While you can start live trading immediately, the money withdrawal is disabled. We require the account verification to prevent opening multiple accounts by the same individual and receiving multiple margin bonuses.
How can I get my account verified?
To upgrade your SwissDealing account to a “verified” status (verification), you must have a verified PayPal account. If you do not have it yet, we advise opening it as soon as possible since it may take some time. Follow this link to learn more.
Verification of SwissDealing account is a very simple procedure. We ask you to make a micropayment of $0.32 from your verified PayPal account to receive your personal details. Your First Name, Last Name and Country are then compared with the Swiss Dealing account profile. If they perfectly match (not case sensitive) then your account receives a “verified” status immediately.
Where does the sum of $0.32 comes from?
This is the minimum fee for a single PayPal transaction.
Do you accept payment systems other than PayPal?
Currently, no. However we will integrate WebMoney in the near future.