DislikedI'm out too after a rather strange telephone conversation with them that left me feeling pretty uneasy. It seemed as if they really needed my business and this makes me think that they have fewer clients than advertised. Regardless of whether or not they are reputable, a lot of traders get that iffy feeling when they first encounter Dukascopy, which adds to the risk of them simply going out of business down the road. Then there is also the extra layer of bureaucratic risk associated with the upcoming Swiss FX laws.
Oh and is it a Swiss company? Not at all. It is basically 100% East European.
Richard, Trader KGB and I have been discussing Duka for a long time now and
understand your 1:100 dilemma (i.e. how do you get 1:100 without resorting to a bucketshop), but honestly, I do not think they are worth the risk.
(Plus the EUR/USD spreads on the demo were usually 1 pip less than on the live platform.) With a good Currenex hub or MBT (or CME as Trader KGB mentioned) you can probably do much better than that!
If you have 250k+ you can use a Bank Guarantee, but even so, the guarantee is written out to the CEO (Alain) to his account at a no-name Turkish-owned back called BCP (they don't even deem it necessary to use an https connection for their login portal!) Why not use UBS in the first place (which Duka says they do)... it makes no sense at all!Ignored
This is not a truth. First of all they are Swiss company which is possible to check in register. Demo and live exactly the same spread. For live is connection even much better. All counter parties is possible to see in reports. For bank guarantee yes it is truth that they accept only from 250 K . Custodian service they working with several banks.
