my experience IB and dukascopy | Forex Factory

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my experience IB and dukascopy

  • #1
  • First Post: Edited 9:48pm Jun 17, 2009 9:14pm | Edited 9:48pm
I have both live account with them ，and i am a highly frequency daytrader， here is my opinion，
gbp/usd spread：duka a little better then IB(especially asia session duka 0.5~1pips better then IB ，other time almost the same）
eur/usd spread：IB better then duka （asia session almost the same，other time IB 0.5pip better）
liquidity：IB better then duka（no need to worry if the size under 1 million unit）
execution：both the same ，IB hotkeys is great but its platform is too complicated for a beginner
commission：duka 15usd/m，IB 20usd/m（there is a way to reduce an half commission in duka，find an introduce broker and make a deal with him，it is great for highly frequency trader）
so，i recommend duka for gbp/usd，IB for eur/USD. If duka's banking license is approved ，i highly recommend to give duka a try. I am pretty sure their spread are the best among the ecn platforms.
BTW: hotspot fxi(institute）used to have the best spread before，but now not any more，anyone have experience with it？
  • #2
  • Jun 17, 2009 10:27pm Jun 17, 2009 10:27pm
cheers. what's your experience trading inside the spread?
  • #3
  • Jun 17, 2009 10:46pm Jun 17, 2009 10:46pm
Quoting blazespinnaker
cheers. what's your experience trading inside the spread?
what do you means？ i don’t get it！
  • #4
  • Jun 17, 2009 10:59pm Jun 17, 2009 10:59pm
Can someone explain to me how to place simple stop loss limits, trailing stops, and stuff like that on this damned thing IB calls a trading platform?

Theirs is hands down, by far, and i mean really by far, the most complicated/uncomprehensive trading platform i've ever seen.
freedom
  • #5
  • Jun 18, 2009 5:17am Jun 18, 2009 5:17am
Quoting longzhan
BTW: hotspot fxi(institute）used to have the best spread before，but now not any more，anyone have experience with it？
Hotspot was bought, I think by FXCM, so that's why they changed.
  • #6
  • Jun 18, 2009 6:39am Jun 18, 2009 6:39am
Quoting steve930
Hotspot was bought, I think by FXCM, so that's why they changed.
Hotspot fxr（retail） was bought by FXCM ，but not Hotspot fxi（institute） ！
  • #7
  • Jun 18, 2009 3:25pm Jun 18, 2009 3:25pm
Quoting longzhan
what do you means？ i don’t get it！
Putting limit orders between the quoted bid/ask. Do they get filled?
  • #8
  • Jun 18, 2009 9:00pm Jun 18, 2009 9:00pm
Quoting blazespinnaker
Putting limit orders between the quoted bid/ask. Do they get filled?
it is weird，what is the point？ i use market order all the time！
  • #9
  • Jun 19, 2009 3:15am Jun 19, 2009 3:15am
okie doke
  • #10
  • Jun 19, 2009 4:00am Jun 19, 2009 4:00am
Interesting! The dukas initial deposit is USD10K for retail customers (wasn't it 50k or something like before?)

Do they allow 10K lots?

If so how to calculate the commission?

Not trying to bash MBT but if the dukas commission structure is right, I'm switching over fast
  • #11
  • Jun 19, 2009 4:02am Jun 19, 2009 4:02am
Pretty sure they're standard lots only.
  • #12
  • Jun 19, 2009 7:38am Jun 19, 2009 7:38am
Quoting pa18
Interesting! The dukas initial deposit is USD10K for retail customers (wasn't it 50k or something like before?)

But commision with this deposit changed too ($ 3.6 / 1 standard lot turn)
  • #13
  • Jun 19, 2009 8:34am Jun 19, 2009 8:34am
Quoting tomlee
But commision with this deposit changed too ($ 3.6 / 1 standard lot turn)
Let me get that straight USD$7.2 for a round trip standard lot?? What currency? Hey thats good isn't it?

Quite a contrast to MBT comm, I'm paying EURUSD 1 standard lot round trip costing me 13.86. And my main cry trading pair GU costing me 16.38, more than double in commission, thats bonkers!

I'm not a scalper but when I lose more than I win but still in profit, every penny helps.

Its a shame that dukas doesn't support 10k lots as I probably have no problem joining them.

I don't trade news but I do use market orders a lot so instant tight fills is a must for me. Incidentally, hows the fills and slippage and so forth. Anybody with experience trading with dukas and small standard lots. Good stuff?
  • #14
  • Jun 20, 2009 9:40am Jun 20, 2009 9:40am
Quoting equilibrium6
Can someone explain to me how to place simple stop loss limits, trailing stops, and stuff like that on this damned thing IB calls a trading platform?

Theirs is hands down, by far, and i mean really by far, the most complicated/uncomprehensive trading platform i've ever seen.
You can preset the stop loss, trailing stop,take profit for each contract also the amount you want to trade. On the order column right click and highlight the order presets. Once you put your buy or sell order right click on the contract and highlight "attach a trade". You'll see it all in that menu. If you change the trade amount on the original trade the attached trades change automaticlly. Also once the trade is executed you can always modify the attached open orders.

IB is complicated but the execution, safety of your money, powerful platform to trade anything you possibly can beats everything else. The charts are the worst part of the IB. I don't use them at all.
  • #15
  • Jun 21, 2009 9:40am Jun 21, 2009 9:40am
Quoting pa18
Let me get that straight USD$7.2 for a round trip standard lot?? What currency? Hey thats good isn't it?

Quite a contrast to MBT comm, I'm paying EURUSD 1 standard lot round trip costing me 13.86. And my main cry trading pair GU costing me 16.38, more than double in commission, thats bonkers!

You pay $ 13.86 round trip for 1 standard lot? I thought they charge the following commission half trip:

100,000 currency (10 lots) x Deal Rate x $0.00005 =100,000x1,3935x0.00005= $7

+ var. spread (in average approx 0.8 pips?)

= $ 15 per half trip
  • #16
  • Jun 21, 2009 9:54am Jun 21, 2009 9:54am
Just to add to the thread and to have a bit of a rant. Duka are accepting a deposit of $10K for retail traders but the volume commission is fairly high $38 per 1mil traded. However if you trade more than 50mil per calendar month they will refund you half this.(http://www.dukascopy.com/swiss/engli...ission-policy/)

I'm with Duka trading mainly GU with 10-40K positoins.The only thing that is REALLY annoying is their quoted prices, you will very rarely get filled at the quoted price, usually 0.5 - 1 slippage on GU in normal conditions. This makes their spread look manufactured. There's a slippage control function which if you set to 0 you will not get filled easily! Also i've never yet been slipped for the better which is even more suspect. In addition buy/sell orders will slip as well. So typicall their quoted spread for GU would be 1-2.5 pips, add slippage and your paying 2-4.5pips.

ok rant over, anyone else have a view on this?
  • #17
  • Jun 21, 2009 9:58am Jun 21, 2009 9:58am
On the Dukas website they say minimum lot size is 100K units. So you do actually trade less than that?
  • #18
  • Jun 21, 2009 10:23am Jun 21, 2009 10:23am
Quoting shrike
On the Dukas website they say minimum lot size is 100K units. So you do actually trade less than that?
Yes my mistake 100-400K units
  • #19
  • Jun 21, 2009 10:38am Jun 21, 2009 10:38am
Quoting equilibrium6
Can someone explain to me how to place simple stop loss limits, trailing stops, and stuff like that on this damned thing IB calls a trading platform?

Theirs is hands down, by far, and i mean really by far, the most complicated/uncomprehensive trading platform i've ever seen.
it's much simpler you can imagine : just use the BookTrader app. you don't need anything else from their platform. Very simple to enter limit orders with right click, just one click. See their webinar. I use it every day, three years now!..
  • #20
  • Jun 21, 2009 11:51am Jun 21, 2009 11:51am
By IB I hope you mean Interactive Broker and not IBFX, as IBFX is no competitor of dukascopy...
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