Dukascopy Broker Review

[mograst]

Re: now 10K USD account at Dukascopy

 

I am new to dukascopy, but is there any way to converto MT4 EA's to use on duka?

 

thanks

[bph]

Re: now 10K USD account at Dukascopy

 

If one waits long enough, Dukascopy will eventually support MT4 . It's just a matter of time I guess.

[finimej]

Re: now 10K USD account at Dukascopy

 

If one waits long enough, Dukascopy will eventually support MT4 . It's just a matter of time I guess.

They have already done that, FXopen ECN II is the metatrader (bridged ) to dukascopy

[gabrielhky]

Re: now 10K USD account at Dukascopy

 

so its cheaper way to join fxopen ecn than directly to ducascopy?

[iloveforex]

Re: now 10K USD account at Dukascopy

 

I don't understand. so opening an account at fxopen is the same as opening an account at dukascopy?

[finimej]

Re: now 10K USD account at Dukascopy

 

diff.

at FXopen your funds is deposite at fxopen.

at dukascopy, your funds is deposite at dukascopy

 

FXopen ECN II, minimum trade lot is 1 lot, you need 10K to trade with reasonable money management anyway.

at dukascopy your minimum trade lot is 1 lot as well, you start from 10K anyway

same price, commission same feed.

 

The only catch, I do not feel that I can sleeping well with 10K deposite at fxopen when I see so many complains in the internet about FXopen. do no know if the funds is safe with fxopen ECN II. this is the only problem.

[pipstream]

Re: now 10K USD account at Dukascopy

 

finimej ,

 

Thanks for sharing your system and suggestions regarding FXopen/Dukascopy & Fapturbo. I downloaded FXopen mt4 ecn demo and indeed, apart for a slight delay in execution time, it matches perfectly with Dukascopy demo. I beleive the slight delay is perfectly normal considering the network delays between Dukascopy & FXopen, on top of processing delays for the jforex api to mt4 bridge.

 

The delay is about 1/2 sec, not enough to be impratical to trade, but still there will be cases where we could loose a few pips because of the delay. I beleive that transcoding the MT4 indicator to Java and trade directly on Dukascopy would be preferable but of course, it takes time to do the conversion, let alone to learn a new programming language...

[finimej]

Re: now 10K USD account at Dukascopy

 

pipstream,

The easiers way is to use the Metatrader.

Think: if you want to convert the FFCAL avoid news indicator from metatrader to dukascopy, then one has to waste so much time to reinvent wheel at dukascopy. The time needed to convert the metatrader indicators and systems to dukascopy is not worth it.

but 10k at FXopen, the so claim scam broker? Some one please convince me the funds is safe at fxpoen.

[pipstream]

Re: now 10K USD account at Dukascopy

 

finimej,

 

I forgot to ask; you said that Dukascopy execution is so fast that it's a pleasure to scalp with them. Have you experienced any partial fills and/or slippage in fast markets? (i.e. at news time) One of the reasons it's almost impossible to do efficient scalps on MT4 is because of those damn requotes MT4 brokers almost always do. I hope Dukascopy doesn't have anything similar to that!? i.e. what are the worst trading conditions that you have experienced with them?

 

Thanks,

pipstream

[finimej]

Re: now 10K USD account at Dukascopy

 

What happens when a business deal goes bad? You get bitterness, recriminations, machinations and vows to get even. This appears to be what happened after Poltek FX and FX Open parted company. It was not an amicable divorce and after reading through dozens of threads it appears the two former spouses are still hurling dishes, pots and pans, as well as the kitchen sink and family cat at one another in a fit of rage that even Hillary and Obama can’t match.
Poltekfx - Forex Trading

In this saga there are no good guys or bad guys. All the Savior can do is warn people to stay on the sidelines and watch the spectacle from afar, well out of harm’s way. But if you are looking for a scorecard, well, you’ve come to the right place. Let’s pick things up from one of the earliest threads on the subject.

“FX Open Scam Scum.” This is the title of a series of truly head spinning threads over at Forex Factory detailing the misadventures of FX Open, a forex dealer with one of the worst reputations in the business.

FXOPEN SCAM SCUM
Fxopen Is a SCAM, Be Aware!
FXOpen Scam Alert again...
Fxopen Are Scammer ................................... ..

Now if you ask FX Open they blame their poor reputation on the scoundrels at Poltek FX who they claim have been waging a systematic propaganda campaign designed to discredit their firm.
FXOpen forex broker - forex services - forex trading

But who is FX Open? Well, nobody really knows. There is no business address listed on their website. There is no Board of Directors or head shots of executive officers. If you really press them they’ll give you an address in Egypt or tell you that they are registered in the Seychelles. And if that isn’t confusing enough one muckraking trader found out that their website is registered in Florida to a “Mr. John Fool.”
Forex Factory - View Single Post - Fxopen Is a SCAM, Be Aware!

So they could be anywhere and everywhere. They could be someone or no one. In short, they can up and vanish like a fart in the wind if they have to.

FX Open is also one of the too numerous to count unregulated MT4 brokers preying upon the desperation of those traders who have fallen in love with MetaQuotes’ software. And like so many of these unregulated forex brokers they are in the habit of misleading the public about their unregulated status. When a customer asked them if they were regulated this was their response:
Forex Trading - View Single Post - FxOpen

Quote:
FXOpen is offshore broker and FXOpen's business activity is regulated by SIBA.
FXOpen - Certificate of Incorporation
Now let’s go to the SIBA website and find out just what this means. The following are the key features of the law that supposedly “regulates” FX Open:
HOME OF INTERNATIONAL BUSINESS OPPORTUNITIES

• No requirement to disclose the beneficial owners of an IBC
• No minimum capital stipulation
• No need to file accounts with the Registrar

In short, FX Open’s “regulation” consists of a useless piece of paper that probably cost them a $100 in filing fees. They are no more regulated than is some ten year old kid’s lemonade stand.

That alone should convince traders to STAY AWAY from them. But the truth is that’s just the tip of the iceberg with these guys.

FX Open has made a lot of enemies in their brief history. One of them is a Kazakhstan native who goes by the name of Erlan. Erlan was a former customer of FX Open’s and he setup a website completely devoted to getting back $50,000 that he claims FX Open stole from him: FXOpen.com is a scam company! Beware!

FX Open then responded to Erlan with a website of their own (FXOpen public letter) telling a wild story that included accusations that Erlan was sending all of FX Open’s customers “wenis enlargement” emails, was trying to crash FX Open’s server and hack FX Open’s customer files and was actually the customer of a former business partner of FX Open’s (Poltek FX) based in Russia that was using Erlan to get back at FX Open. (More on Erlan and his shenanigans in Part II of Metatrader Misery.)
Forex Factory - View Single Post - Fxopen Is a SCAM, Be Aware!

Now seriously, who in their right mind is going to open an account with FX Open after hearing such a loopy tale? And it gets even zanier. Someone claiming to be FX Open’s CEO starts posting at Forex Factory demanding that the forum moderator stop banning supporters of FX Open or else they’ll sue Forex Factory.
Forex Factory - View Single Post - Fxopen Is a SCAM, Be Aware!

The moderator replies that FX Open is a scam and the man claiming to be FX Open’s CEO quickly slinks out the back door after he sees his threats are being ignored. Indeed, FX Open gets completely banned from the forum and is forced to waddle over to Forex TSD where they cause another huge fight with traders screaming that FX Open is a scam and should be banned.

Is FX Open a scam? It’s just not clear. FX Open’s lack of transparency is deeply troubling. Their communication with the public is so unprofessional and their English so mangled that one gets the impression that Borat is running the company. They are also as I have stated before unregulated so if they ever get into trouble they are accountable to no one. At the end of the day this is what the trading public should be most concerned about.

The public should also be concerned about the firm’s alleged dealing practices. The number one complaint against FX Open is that they are a ruthless market maker that has no patience for customers who actually make money. Now this is a common complaint against many market makers. But in the threads referenced above I’ve never seen so many traders screaming about a firm’s dealing practices. Trader after trader complains about profits being removed from their accounts. Numerous traders complain of how the firm booted them out only after they made profits. Traders complain about terrible execution in numbers that really call into question the dealing ethics of this firm.

FX Open’s reply is that all these complaining customers are using some kind of secret software that allows them to “cheat” and make big profits off them. Thus they have no choice but to close the accounts of these cheating customers. I’m aware that there are some traders out there who are skilled at jumping in and out of the market in short bursts due to price discrepancies and latency issues. But this is very difficult to do. Yet judging from FX Open’s claims you would think that there are hordes of these traders out there raping and pillaging poor little forex dealers like FX Open.

Having said all that are some of these complaints against FX Open being orchestrated by their enemies? It appears so. And in part II of Metatrader Misery we’ll take a look at FX Open’s rival “Poltek FX” to uncover what these guys are up to.

Sorry William: I have to link to another forum, because this information is only available there.

 

I have done my research and also asked some experience trader like MaXey and NewDigital. And also the above thread, so I am very much hestitated to have my 10K account at FXopen.

 

As for dukascopy, the normal broker recommended minimum lot is 2.5 standard lot, but you are allowed to trade 1 lot and will get filled.

Dukascopy is for the big dogs, so our lite lot requirement such as 1 or 5 standard lot will get filled very easily, as you can see from the orderbook.

in their order book, 1 dukascopy lot = 10 standard lot at mtbroker.

 

I would like to say, dukascopy is very fast for manual scalping. for automated trading, there is time that we have to used to reinvent the wheel.

And there is some work around: such as trade copier, or Agent API, or rewrite everything in the Jforex. and JForex is not difficult at all to work with.

however, our time is spend in convert MT indiacator system to dukascopy, this time is not spent on trading, and is not value-added time. I do not like my time is non-value added.

 

so most of all, I am not doing anything right now.

I never regrated that I am not on the boat of FAPTurbo Evaluation, because take profits at 10 pips with stoploss at 150 pips and wait 3 or 4 hours for the trade to get into it profits, is just not my style of trading.

[pipstream]

Re: now 10K USD account at Dukascopy

 

finimej,

 

Thanks for the info on FXopen. And to think I was considering opening an account with them instead of Dukascopy...hmmm... I guess if I ever go the Dukascopy route, I will use your suggestion and run my indics/EAs on FXopen MT4 ECN demo and "copy" these trades to Dukascopy.

[finimej]

Re: now 10K USD account at Dukascopy

 

nothing is perfect in the world.

 

AS the trading copier, you can copy market order and stoporders to the dukascopy.

if you have a EA like the envelope scalper or ISEA scalper that put some limit orders and modifie the limite orders based on every new tick, then it is won't ok to copy to dukascopy.

[dinj]

Re: now 10K USD account at Dukascopy

 

I have an account at Dukascopy and I haven't yet experienced any slippage or requotes

[pipstream]

Re: now 10K USD account at Dukascopy

 

I have an account at Dukascopy and I haven't yet experienced any slippage or requotes

Thanks for the info dinj :)

I'm very tempted to open an account with them. The only real drawback I see is they don't offer MT4 directly (through FXopen yes, but with FXopen reputation I think I will stay away from them)

[finimej]

Re: now 10K USD account at Dukascopy

 

pipstream

so du select between dukascopy and FXopen ECN II, left or right? both are good, both are not perfect.

I do n't know, at the end, non of them! =))

[Chaki123]

Re: now 10K USD account at Dukascopy

 

FXCM has bought the Previous HotspotFx retail and renamed it to FXCM active trader. ATC is IB for FXCM.

 

I have ATC brokers. commision 8USD per rund trip of 1 lot. minimum deposite 5K account. hedge and scalping allowed. minimum lot 0.1 lot, thereafter you can trade with 0.11 lot with 0.01 lot step. very very very nice and active live chat and telephone support.

 

your account is actually the same as the FXCM active trader 25k account, same spread, same account, same application. you can use the FXCM active trader backoffice to view everything, but you are not allowed to trade from the fxcm active trader account.

 

my experience:

order execution, I am in sweden, with very good internet connection, 10MB /s, but my order execution is not faster than normal fxcm account. take 1 or 1.5 seconds to get the order through.

 

if I am trading EURGBP during the asianmarkettime, the liquidity is not so good. max 1 lot in the orderbook. you can see that from fxcm active trader platfrom.

they have only 22 pair of currency to trade.

data is not filtered, honest broker.

 

Is the spread, execution and price feed at ATC demo account the same as the live account? thanks bro..

[hip]

Re: now 10K USD account at Dukascopy

 

I have an account at Dukascopy and I haven't yet experienced any slippage or requotes

that is encouraging we may have a real broker within reach of most people

[finimej]

Re: now 10K USD account at Dukascopy

 

Chaki123, dear, I have both live and demo, I sware the demo and live has the same spread and price. But not the same liquidity. During the asiantime, if you want to buy lot size under 1 lot on eurocross shall not have problem. but size bigger than that, you will not get filled. liquidity during the normal market time is good.

 

ATCbrokers server is located at NY, so you have from the demo test your order execution time. For me, it takes around 1.5 seconds or sometimes 2 seconds from sweden to manual click order here until the order is executed in NY. this is the only major problem for me.

Otherwise, it is very good broker.

[davimaciel]

Re: now 10K USD account at Dukascopy

 

someone has the software to copy the orders from MT4 to dukascopy plataform??

[davimaciel]

Re: now 10K USD account at Dukascopy

 

does someone has the FapTradeConvertor??

[limks9899]

Re: now 10K USD account at Dukascopy

 

Does Anyone try the FapTurbo Evolution on Dukascopy yet ?

[finimej]

Re: now 10K USD account at Dukascopy

 

donnaforex, real account run.

 

http://www.fapturboswiss.net/

[pipstream]

Re: now 10K USD account at Dukascopy

 

pipstream

so du select between dukascopy and FXopen ECN II, left or right? both are good, both are not perfect.

I do n't know, at the end, non of them! =))

I haven't decided yet. It's a tough choice (and a potentially expensive one). One thing is for sure; from now on I want to trade with a "real" broker, one that doesn't trade against its clients and /or plays tricks with the price feed, so no more dealing desk/market-maker for me!

 

I'm currently looking at Dukascopy/FXOpen, ATC/FXCM, FXcbs, and a few others supposedly "true ECN" like TadawulFX (that one is doubtful; fixed spreads=conflic of interest). The only good thing is that from my location I get very low latency (<50ms) to all of these brokers so execution can be really fast IF the broker doesn't fool around with the trading process (like so many market-maker do with MT4 and the famous Boston Technology Dealer Plug-in)

 

One question I have for you regarding your live Dukascopy account: while you are probably not a News trader so you may not have done this often (if ever), have you ever tried to open a position right after a big News release (i.e. NFP) when the prices are moving really fast? Any problems getting filled? I’m asking because if Dukascopy can cope with those kind of market conditions, then it’s a really good sign of their reliability.

[dznmrd]

Re: now 10K USD account at Dukascopy

 

pipstream

so du select between dukascopy and FXopen ECN II, left or right? both are good, both are not perfect.

I do n't know, at the end, non of them! =))

I haven't decided yet. It's a tough choice (and a potentially expensive one). One thing is for sure; from now on I want to trade with a "real" broker, one that doesn't trade against its clients and /or plays tricks with the price feed, so no more dealing desk/market-maker for me!

 

I'm currently looking at Dukascopy/FXOpen, ATC/FXCM, FXcbs, and a few others supposedly "true ECN" like TadawulFX (that one is doubtful; fixed spreads=conflic of interest). The only good thing is that from my location I get very low latency (<50ms) to all of these brokers so execution can be really fast IF the broker doesn't fool around with the trading process (like so many market-maker do with MT4 and the famous Boston Technology Dealer Plug-in)

 

One question I have for you regarding your live Dukascopy account: while you are probably not a News trader so you may not have done this often (if ever), have you ever tried to open a position right after a big News release (i.e. NFP) when the prices are moving really fast? Any problems getting filled? I’m asking because if Dukascopy can cope with those kind of market conditions, then it’s a really good sign of their reliability.

 

FXOpen? FXopen? You thought that was a "True ECN", its the worst bucketshop that deletes profitable trades from traders accounts and they have a big record in the past of not paying people and scam reviews.

 

The only True ECN's or reliable brokers i know of is "Usually i dont believe any broker thats based on internet as a real bank2bank broker"

 

Dukascopy

Fxdd

Fxcm

Alpari

Fxpro - formerly northfinance

CMS

MBtrading

[sidecona]

Re: now 10K USD account at Dukascopy

 

http://www.jforexboard.com/ here is the forum for coding on jforex.

 

swfx platform can be programmed with free api - JFOREX, and it is only programmed in free pure java.

program tool is eclipse. http://www.eclipse.org/downloads/ can be download from here.

 

It is very intresseting, I am checking it out, and see if it is easy to get hands on the java and dukascopy. it is start from 10K account, but minimum trading is 1 lot, which is too big for my taste. I am still in trading 0.1 lot stadium.

 

 

Thanks!!