What's so special about Dukascopy? | Forex Factory

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What's so special about Dukascopy?

  • #1
  • First Post: Apr 25, 2010 2:09pm Apr 25, 2010 2:09pm
Looking at the feed on the website , EUR/USD typically hovers around 1 pip, you would expect tighter spreads with the huge liquidity they quote, around 200 million cumulative at the bid/ask...

They have no fractional pricing like MB , Currenex,ATC ...etc

Spread at Interactive Brokers ,decent Currenex,ATC brokers averages under 1 pip for EUR/USD
  • #2
  • Apr 25, 2010 9:52pm Apr 25, 2010 9:52pm
Most Liquidity. Largest Retail ECN. Old and Respected Reputation.
  • #3
  • Apr 25, 2010 10:08pm Apr 25, 2010 10:08pm
Quoting Aja
Most Liquidity. Largest Retail ECN. Old and Respected Reputation.
But you probably won't get a fill when it matters most, that is in fast moving markets.
  • #4
  • Apr 26, 2010 5:15am Apr 26, 2010 5:15am
Something ain't right , I am seeing around 300 million cumulative at the bid/offer for the EUR/USD but the spread is around 1 pip, see above where you find brokerages with much less liquidity but tighter spread...
  • #5
  • Apr 26, 2010 5:39am Apr 26, 2010 5:39am
Quoting Cocoflanel
Something ain't right , I am seeing around 300 million cumulative at the bid/offer for the EUR/USD but the spread is around 1 pip, see above where you find brokerages with much less liquidity but tighter spread...
I'd say phantom liquidity.
You will have a hard time finding a broker with better liquidity than IB
in the retail segment.
Dukas is not institutional level, a wannabe at the most.
JMHO
  • #6
  • Apr 26, 2010 5:51am Apr 26, 2010 5:51am
In judging liquidity and spread one has be a bit more careful.

Tight spread does not automatically mean better liquidity.
At certain brokers you may find super tight spreads, but if you see the liquidity
at that certain level, maybe you will find only 10K
This is what happens at brokers that allow traders to put orders between the spread.
The spread appears tighter, but only for those who trade very small.

To judge real liquidity/spread one has to look at price levels where there is at least 1-20 Millions liquidity on the same level.
  • #7
  • Apr 26, 2010 6:42am Apr 26, 2010 6:42am
Quoting pescador
In judging liquidity and spread one has be a bit more careful.

Tight spread does not automatically mean better liquidity.
At certain brokers you may find super tight spreads, but if you see the liquidity
at that certain level, maybe you will find only 10K
This is what happens at brokers that allow traders to put orders between the spread.
The spread appears tighter, but only for those who trade very small.

To judge real liquidity/spread one has to look at price levels where there is at least 1-20 Millions liquidity on the same level.

Agreed there, in the end it will depend what size you trade to find which broker would be the most interesting, for small size traders there certainly better deals than Dukas...
  • #8
  • Apr 26, 2010 6:46am Apr 26, 2010 6:46am
Quoting pescador
I'd say phantom liquidity.
You will have a hard time finding a broker with better liquidity than IB
in the retail segment.
Dukas is not institutional level, a wannabe at the most.
JMHO

Don't most serious brokers have fractional pricing ?(didn't Dukas had this in the past ? (MB,ATC,Currenex all fractional,IB also fractional ?)
  • #9
  • Apr 26, 2010 7:06am Apr 26, 2010 7:06am
Too many Introducing Brokers spinning around internet looking for unwary traders to engrose the client list of Dukas, that's the special about Kascopy.

PS: the same with FXOpen
  • #10
  • Apr 26, 2010 10:40pm Apr 26, 2010 10:40pm
Quoting Cocoflanel
Don't most serious brokers have fractional pricing ?(didn't Dukas had this in the past ? (MB,ATC,Currenex all fractional,IB also fractional ?)
Wouldn't you consider both of these entries "fractional" pricing? This is from a live Dukas account.

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It's Easy To Get In;.. It's Hard To Get Out
  • #11
  • Edited 2:27am Apr 27, 2010 2:00am | Edited 2:27am
Quoting John D
Wouldn't you consider both of these entries "fractional" pricing? This is from a live Dukas account.

Attachment

Funny, on their website, you can see live prices and only in 0.5 pip increments...NEVER saw 0.1 increments
  • #12
  • Apr 27, 2010 2:59am Apr 27, 2010 2:59am
Quoting Cocoflanel
Funny, on their website, you can see live prices and only in 0.5 pip increments...NEVER saw 0.1 increments

It's called a limit order.

Trade to trade well my friend.
JD
It's Easy To Get In;.. It's Hard To Get Out
  • #13
  • Apr 27, 2010 4:46am Apr 27, 2010 4:46am
Quoting John D
It's called a limit order.

Trade to trade well my friend.
JD

How can you get filled at 0.1 prices when live prices like you see on their website only quote in 0.5 increments ?
  • #14
  • Apr 27, 2010 12:00pm Apr 27, 2010 12:00pm
Quoting Cocoflanel
How can you get filled at 0.1 prices when live prices like you see on their website only quote in 0.5 increments ?
Note: This is not a current live price but an example one of the ways of how to...

Attached Image (click to enlarge)
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JD
It's Easy To Get In;.. It's Hard To Get Out
  • #15
  • Apr 27, 2010 12:21pm Apr 27, 2010 12:21pm
I don't think most traders heard of dukascopy until the fap turbo guys started using it.
BarrySDCA Commercial Network Services
  • #16
  • Apr 27, 2010 3:04pm Apr 27, 2010 3:04pm
Quoting John D
Wouldn't you consider both of these entries "fractional" pricing? This is from a live Dukas account.
I noticed this too, is this a recent change, or have orders always been fill-able at 0.1 increments rather than 0.5 increments? Seems strange to allow fills at 0.1 but only quote at 0.5... However, being that they are a portal aggregator, and most of those portals quote at 0.1, it's good to see Duka at least filling at 0.1.

With regards to the phantom liquidity, there's no way to ever verify it. Most of the LPs these days quote little more than 5M per portal, hard to see where they're getting 500M from (unless much of it is redundant, i.e. a LP quoting 5M on 5 different venues which Duka aggregates, thus Duka shows 25M, good luck filling that 25M). I've even seen them show 800M on the EUR/USD book a few times. The inside liquidity is naturally much lighter, you have to go several levels deep before you see >10M on their books.
  • #17
  • Apr 28, 2010 5:34am Apr 28, 2010 5:34am
Quoting Trader KGB
I noticed this too, is this a recent change, or have orders always been fill-able at 0.1 increments rather than 0.5 increments?...
Didn't they quote in 0.1 increments in the past ?

Strange indeed for a broker claiming to display live bank prices (most quoting in 0.1 increments) , can't conclude other than they pad the spreads...
  • #18
  • Apr 28, 2010 6:30am Apr 28, 2010 6:30am
Quoting Cocoflanel
Didn't they quote in 0.1 increments in the past ?
Not that I'm aware of, at least over the past 2-3 years.

Quote
can't conclude other than they pad the spreads...
That was my general assumption all along, which also helped explain the rather favorable commission rates. Even if true, they're certainly not alone in that camp..
  • #19
  • Apr 28, 2010 9:41am Apr 28, 2010 9:41am
I'll tell ya what is so special about em!

They give out cool 15,000$CHF watches that Putin uses as a cockring.

lowest draw down possible please.
  • #20
  • Apr 28, 2010 12:05pm Apr 28, 2010 12:05pm
By the way, if you want an MT4 version of Dukascopy, head over to FX Open.
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