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Dukascopy Live Account - Don't Post if you haven't traded live with them!

  • #81
  • Mar 15, 2010 5:00pm Mar 15, 2010 5:00pm
Funny ad, who is gonna work fulltime for LVL 500 (EUR ~700) with a university degree..
  • #82
  • Mar 16, 2010 3:50am Mar 16, 2010 3:50am
Quoting shrike
That may be the case, but there have already been banking licenses issued to former fx brokers, the question remains why not to Dukascopy.

Above and beyond the formal and financial requirements there are additional requirements for a bank, for example that its directors must be "fit and proper". Maybe thats the problem here?
Not really, only three brokerage applied for licences. ACM, Dukas and MIG. So far only MIG has been granted said licence. I believe two of the three primarys have been asked to step down from ACM and Dukas might just be is just waiting on FINMA.

Don't know for sure because Dukas isn't talking.

We'll see

JD
It's Easy To Get In;.. It's Hard To Get Out
  • #83
  • Mar 16, 2010 6:06am Mar 16, 2010 6:06am
Quoting John D
Not really, only three brokerage applied for licences. ACM, Dukas and MIG. So far only MIG has been granted said licence. I believe two of the three primarys have been asked to step down from ACM and Dukas might just be is just waiting on FINMA.

Don't know for sure because Dukas isn't talking.

We'll see

JD
Now, I know about a lot more, some went belly-up during the process, others were successful (f.e. Saxo-Switzerland).

Regards
  • #84
  • Mar 16, 2010 6:45am Mar 16, 2010 6:45am
I checked with a Dukas IB yesterday regarding the ad. They have always had an office in Riga and according to him this is merely normal hiring for that office.

I am in the process of filling out the paperwork for a live account but told him that I would not fund it until the banking license is in place.
  • #85
  • Mar 16, 2010 12:21pm Mar 16, 2010 12:21pm
I have a question to those who trading live with them-regarding their commissions.
It's written on their page that if the account is 10000$ that the commission will be 3,2$ for standard 100.000 lot. Does the commission goes per trade or it is a"double commssion"-one for opening and one for closing the trade ?
Regards;
  • #86
  • Mar 27, 2010 10:08am Mar 27, 2010 10:08am
HI Guys.
Thinking of utilising Dukas.
What sort of slippage are you getting on stop entries and stop losses on average with their new mini/microlot sizes ?

Cheers
  • #87
  • Mar 28, 2010 12:03pm Mar 28, 2010 12:03pm
Quoting Rise
HI Guys.
Thinking of utilising Dukas.
What sort of slippage are you getting on stop entries and stop losses on average with their new mini/microlot sizes ?

Cheers
I trade with mini and standard lot sizes and have not encountered a lot of slippage but then again I avoid trading during high volatility news events because an ECN is subject to banks pulling price feeds which is how slippage is encountered.

You also have the option within the JForex platform to limit the amount of slippage you want to deal with. I set mine to one (1).

Trade to trade well,
JD
It's Easy To Get In;.. It's Hard To Get Out
  • #88
  • Jun 17, 2010 4:02pm Jun 17, 2010 4:02pm
I just got information from an internal source that DukasCopy have been accepted as a bank and thus been granted a banking license with 100,000 CHF insurances on deposits!! My source further says that this is not yet public info but it's starting to spread.

Well, let's wait to confirm if he is correct.
  • #89
  • Jun 17, 2010 7:05pm Jun 17, 2010 7:05pm
Quoting wh1zz0
I just got information from an internal source that DukasCopy have been accepted as a bank and thus been granted a banking license with 100,000 CHF insurances on deposits!! My source further says that this is not yet public info but it's starting to spread.

Well, let's wait to confirm if he is correct.

Dude, you're two days too late and yesterday they posted it on their web site. Thanks non the less.

Trade to trade well there are no excuses!
JD
It's Easy To Get In;.. It's Hard To Get Out
  • #90
  • Jun 17, 2010 10:14pm Jun 17, 2010 10:14pm
Am I correct in thinking that it requires £1000 equity to keep a 0.1 GBPUSD position open at dukascopy?
The greatest force on earth is compound interest.
  • #91
  • Jun 17, 2010 10:16pm Jun 17, 2010 10:16pm
Am I correct in thinking that it requires £1000 equity to keep a 0.1 lot GBPUSD position open at dukascopy with 100:1 leverage or is the margin requirement only £100? I have £1k set aside for trading[/quote]
The greatest force on earth is compound interest.
  • #92
  • Jun 17, 2010 10:37pm Jun 17, 2010 10:37pm
Quoting sebastionay
Am I correct in thinking that it requires £1000 equity to keep a 0.1 lot GBPUSD position open at dukascopy with 100:1 leverage or is the margin requirement only £100? I have £1k set aside for trading
[/quote]


http://www.dukascopy.com/swiss/engli...counts/margin/
It's Easy To Get In;.. It's Hard To Get Out
  • #93
  • Jun 17, 2010 11:03pm Jun 17, 2010 11:03pm
Heya Takisd,
just noticed in your sig, you mention an Aussie broker. Not sure if you've covered this, but any chance you could point me in their direction so i can do a bit of research?

Cheers buddy, appreciate your advice
  • #94
  • Jun 24, 2010 12:36am Jun 24, 2010 12:36am
Quoting sebastionay
Am I correct in thinking that it requires £1000 equity to keep a 0.1 lot GBPUSD position open at dukascopy with 100:1 leverage or is the margin requirement only £100? I have £1k set aside for trading
[/quote]

Attached Image (click to enlarge)
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JD
It's Easy To Get In;.. It's Hard To Get Out
  • #95
  • Jun 30, 2010 9:37pm Jun 30, 2010 9:37pm
Looking at that margin calculation...it is for 0.1 lot in which 1 lot is 1 million. Therefore Dk's 0.1 lot is 1 standard lot at any other broker.

So it takes 1000 to margin 0.1 DK lot (which is 100,000) but only 100 to margin 0.1 Standard lot (which would be 10,000).

this is in response to John D response on sebastionay's margin question.

p.s I just wish we had standard nomenclature among the brokers.

A standard lot at DK is 1,000,000 not 100,000.
  • #96
  • Jul 1, 2010 4:13am Jul 1, 2010 4:13am
Thats the amount in millions not lots like you say.... takes $100 to margin 0.01 which is 10,000... if you wanted to do a 1,000 you would input that as 0.001 alittle confusing at first.

Quoting flyer415
Looking at that margin calculation...it is for 0.1 lot in which 1 lot is 1 million. Therefore Dk's 0.1 lot is 1 standard lot at any other broker.

So it takes 1000 to margin 0.1 DK lot (which is 100,000) but only 100 to margin 0.1 Standard lot (which would be 10,000).

this is in response to John D response on sebastionay's margin question.

p.s I just wish we had standard nomenclature among the brokers.

A standard lot at DK is 1,000,000 not 100,000.
  • #97
  • Oct 7, 2010 10:41pm Oct 7, 2010 10:41pm
I got a line on my portfolio statement that says "Settlement for USD/CAD -$30"

Can anyone tell me what "Settlement" is? Can't be the rollover fee because that should be around $3.00 for one day according the the Dukas calculator.
  • #98
  • Oct 8, 2010 2:01am Oct 8, 2010 2:01am
Settlement Procedure

Settlement activities are conducted on a daily basis and include all post-trade operations such as trade settlements, rollovers, volume commissions and daily P&L conversions and other end-of-day amendments (please refer to Overnight policy for related information on value date and overnights). Settlement procedure is applied at 21:00/22:00 GMT and is carried out automatically in the account’s base currency. Account balance is updated on a daily basis after settlement procedure. Clients are able to track balance history in various reports through the trading platform or through the web based entry.


On you portfolio statement you always have at least three rows.


Daily change - your net profit or loss for the day
Settlement for - your profit or loss after rollover fees
Volume commissions - no need for explanation
  • #99
  • Oct 8, 2010 2:18am Oct 8, 2010 2:18am
Quoting dma
Settlement Procedure

Settlement activities are conducted on a daily basis and include all...
Until I close a position, how can P/L be added or deducted from my balance as it is unrealized because my position was still open?

http://i982.photobucket.com/albums/a...an1/Image2.gif
  • #100
  • Oct 8, 2010 3:14am Oct 8, 2010 3:14am
I thought that is what is confusing you.

This is just how they do it, every day at 21/22 GMT they make your daily statement and all your open positions are shown as if they are closed at the time the calculation is made.
So if at 21/22 gmt you have an open position that has unrealized loss it will be shown at your statement as a daily loss.
But the next day, or as soon as you notice they have done the settlement, check you portfolio statement again and it will be showing you the extra profit, which will balance out the yesterday's loss and will show you the real situation.

Example: you short e/u at 1,4000, at settlement time price is 1,4010, you portfolio statement will be showing a 10 pip loss even if your position is still open. Next day you actually close the position an 1,3950 and your statement will be showing you a 60 pip profit, although it is only 50.

So it is their way of doing things, instead of shoving your 50 pip profit only, you will have a 10 pip loss, and then a 60 pip profit, but in the end it is always a 50 pip profit.

Click on the date on your portfolio statement and you will have a daily brake down showing you how they calculated whatever is that they are showing you as a daily change.
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