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Is Duka A Marketmaker ?!!

  • #21
  • Oct 27, 2008 2:03am Oct 27, 2008 2:03am
In general I think there are some serious issues when it comes to Duka. (worst ECN spreads, fund's safety, etc.) However, I did put in a few 5 mill orders with them and didn't get slipped once (even in a fast moving market). I'm wondering how much of this wierdness has to do with the current market environment. Keep in mind that in the interbank, a counter-party can easily cancel an order (similar to Currenex's last look feature).
  • #22
  • Oct 27, 2008 2:04am Oct 27, 2008 2:04am
Quoting Trader613
fxterrapin:

I wasn't high, no, but I was utterly stupid for saying this.

So here comes the correction:

FXCM:

Join the 'shops', the Bucket shops, that is.

Thank you fxterrapin

Note:

I was speaking to a CTA last night, the experiences he had with them were just not to believe, I had asked him why he had used them as a broker, he replied because he wanted to give them a shot. Well, magazin is empty, with lots and lots of dead bodies around. (his lawyer eventually got matters sorted out, or better said, is sorting matters out.)

Hehe, just having some fun.

Indeed, FXCM is about as shady as it gets.
  • #23
  • Oct 27, 2008 2:18am Oct 27, 2008 2:18am
Quoting fxterrapin
Dukascopy used to do this (a few months ago). EFX never did.
But then suddenly they changed their policy and really since than things got only from bad to worse and in my opinion to have slippage regularly over 11 pips for a order size of 500k sounds to me still very suspicious
  • #24
  • Oct 27, 2008 3:02am Oct 27, 2008 3:02am
Quoting Kiado
But then suddenly they changed their policy and really since than things got only from bad to worse and in my opinion to have slippage regularly over 11 pips for a order size of 500k sounds to me still very suspicious
Did you ask them why they no longer show the counter parties? They have changed a few things, including the design of their interface. Did this occur around the same time. Would like to hear more...

I know that you don't want to post the actual orders, but that is really the only way to figure out what is going on.
  • #25
  • Oct 27, 2008 3:59am Oct 27, 2008 3:59am
Quoting fxterrapin
Did you ask them why they no longer show the counter parties? They have changed a few things, including the design of their interface. Did this occur around the same time. Would like to hear more...

I know that you don't want to post the actual orders, but that is really the only way to figure out what is going on.
yes i did asked them and they disabled this function due to banks having complained to them about the anonymity however this only shows me that they aren't willing to attend to their client needs and are much more concerned about pleasing their liquidity providers which in fact may imply that the ability for clients to open or close trades may not be executed to the advantage of the client
or that they may have again a DD and may do not offset all of their clients positions in to the Interbank market
And yes all the changes happened around the same time including taking away the counterparty-view , slippage occurrence, off market quotes ,and the new designed Interface
  • #26
  • Oct 27, 2008 1:42pm Oct 27, 2008 1:42pm
What I find really interesting is that back in their DD days, they used to provide exotic currencies such as USD/SEK. Guess, what! USD/SEK has been re-introduced (on the demo for now). This coupled with the fact that you can no longer see the counter party, almost makes me think that they have returned to being an MM! Perhaps they are no longer able to pay for access to hotspot, currenex, etc.
  • #27
  • Oct 29, 2008 3:36pm Oct 29, 2008 3:36pm
I read some bad words about Dukascopy but no one mentioned better alternative. Which ECN has better execution? MBT and Hotspot does not.
  • #28
  • Oct 29, 2008 3:42pm Oct 29, 2008 3:42pm
Quoting atomz
I read some bad words about Dukascopy but no one mentioned better alternative. Which ECN has better execution? MBT and Hotspot does not.
IB
  • #29
  • Oct 29, 2008 8:03pm Oct 29, 2008 8:03pm
why the negativity about market makers?
This is how this business is run, isn't it? If you deal with GS they're quoting you the price too.
.
  • #30
  • Nov 2, 2008 2:52am Nov 2, 2008 2:52am
Actually a Broker which claims to be a ECN can be trustable even if he is not showing you the counterpart of your trades
the reason why they aren't showing you the counterpart is the phenomena called Rapid fire and what is happening is a Bank may send multiple bids or offers to the different ecn platforms because the may be on the wrong side of the market and what is happening the provide multiple liquidity to the different platforms and a market player which has access to that information may hit them with multiple orders on all platforms and the interbank liquidity provider may end up with a far to big position
  • #31
  • Edited 7:22am Nov 2, 2008 5:44am | Edited 7:22am
Quoting Kiado
... phenomena called Rapid fire and what is happening is a Bank may send multiple bids or offers to the different ecn platforms because the may be on the wrong side of the market and what is happening the provide multiple liquidity to the different platforms and a market player which has access to that information may hit them with multiple orders on all platforms and the interbank liquidity provider may end up with a far to big position
Good point Kiado.

I do actually think that this could be the reason what actually happened over at Dukascopy, and therefore consequently the liquidity has been drastically reduced.

Clients at Dukas must have unknowingly/willingly 'rapid fired' the banks who might have at certain market conditions and exposure, offered their liquidity multiply on diffrent venues due to being 'to heavy on one side' (rather than under the usual circumstance when banks splitt up their liquidity and are therefore not exposed to taking risk.)

The way Dukas's internal order algorithm is programmed, there is probably no way that Dukascopy can safeguard themselves from rapid firing their liquidity providers, consequently the banks at first must have yellow flagged Dukas (that's what banks normally do), but after two or three warnings from a bank and a subsequent repeat offense, a broker is removed out of the game: banks actually cut you off their liquidity pools.
  • #32
  • Nov 30, 2008 4:33am Nov 30, 2008 4:33am
Also a Dukas client and would like to hear recommendations of people who were with Dukas and have switched.

My problem with them is their quotes. I use MT4 and Dukas prices vary from +/- 5 pips (bid price) from what my charts are showing.

Is there a way to get their quotes into MT4?

Thank you.
  • #33
  • Aug 12, 2009 5:29am Aug 12, 2009 5:29am
Quoting Vourvoul
Also a Dukas client and would like to hear recommendations of people who were with Dukas and have switched.

My problem with them is their quotes. I use MT4 and Dukas prices vary from +/- 5 pips (bid price) from what my charts are showing.

Is there a way to get their quotes into MT4?

Thank you.
have no Idea, I went away from MT4 to Jforex platform and I my orders were not slipped . yes sometimes and about spreads then they have really good. I compared their data feed with my strategy which run automatically and there is 98 % orders executed. Also I use their MQL converter to java and strategies can be easy converted.
  • #34
  • Last Post: Aug 22, 2009 9:40am Aug 22, 2009 9:40am
Quoting Trader613
Well, after having calmed down a little from my 'outrage' about Dukas, I would like to pay some further thoughts into this subject.

The truth is, as a retail client you are always at the bottom of the food chain, no matter what. First we have the raw Interbank market trading through EBS and Reuters Dealing 3000 and lately FXmarketspace, and arbitrage trading between those and Institutional ECN platforms like FXall, Accelor, Baxter, Lava, 360T etc.etc.

As a matter of fact, a retail trader has only a handful of 'real' brokers to choose from, mainly...
i am with dukascopy over a year know
i am really very sorry to dissappoint you bro.
but i am having no problem with them.
yes some times i have sliperage..
but most it is news time only.
they are very good and best is hedging..
bro this is first time i am talking about my broker.
it hurts when people talk here about dukascopy negative..
i am not just talking i have live account. go and check my posts you will know that i am professional trader.
i will end with " no one is perfect "


Sorry for bad english i am Half Arab.
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