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Dukascopy

  • #341
  • Sep 8, 2010 2:04am Sep 8, 2010 2:04am
Quoting 8888
Did you call Dukascopy with this issue? Or asked this question on Skype ? What they said?
no i haven't ,i am still waiting for their email
  • #342
  • Sep 8, 2010 5:17am Sep 8, 2010 5:17am
don't trade with them, they are too secretive.....they are not open towards their trading approach
  • #343
  • Sep 9, 2010 4:24am Sep 9, 2010 4:24am
Shrike :"Dukascopy: on your website you say you route orders (amongst others) to Lava, Hotspot and Currenex. Since those platforms quote in 0.1 pip incerments and Dukas only in 0.5 pip increments, can you explain where the difference goes? Since the website says you are agency-only, i do assume Dukascopy does not eat the PnL from quote-rounding, but surly it has to go somewhere?

Also, since those ECNs do not accept 1000 unit orders, can you explain the exact order routing process? Are all quotes on your depth display good for small orders, or only some?

You should really publish more information on how exactly you aggregate quotes and route orders."



The above question still goes unanswered...

What about it , Dukascopy ?
  • #344
  • Sep 9, 2010 3:07pm Sep 9, 2010 3:07pm
I tried the web based demo account since I am new and want to buy USD with CDN but the demo only allows me to open in USD. I have to admit I am very new to trading currencies and still learning, but is it possible that I cannot open an account with Dukascopy in CDN?
  • #345
  • Sep 9, 2010 5:35pm Sep 9, 2010 5:35pm
Quoting klrman
I tried the web based demo account since I am new and want to buy USD with CDN but the demo only allows me to open in USD. I have to admit I am very new to trading currencies and still learning, but is it possible that I cannot open an account with Dukascopy in CDN?
Not sure about the demo platform but you can open a live account with:

"US Dollars, Euro, Canadian Dollars, Japanese Yen, Swiss Francs, Australian Dollars and British Pounds (Sterling)."

JD
It's Easy To Get In;.. It's Hard To Get Out
  • #346
  • Sep 9, 2010 5:53pm Sep 9, 2010 5:53pm
Quoting John D
Not sure about the demo platform but you can open a live account with:

"US Dollars, Euro, Canadian Dollars, Japanese Yen, Swiss Francs, Australian Dollars and British Pounds (Sterling)."

JD

Thanks JD, at least I know I am heading in the right direction then!
  • #347
  • Sep 11, 2010 1:57am Sep 11, 2010 1:57am
I did have one question about Dukascopy. If I make a mistake and blow up my live account, could I be liable for any more funds other than the actual equity I have in a Dukascopy FX account?

The reason I ask is that on a different FX Broker website, not Dukascopy,it states that one cannot lose more than what is actually in their account in equity, but if you go to another page of their disclaimer, they clearly state that one can lose much more than the equity in their account and would be liable for it.

Confusing, so I called the broker and he said that is only in there for legal reasons (to whose benefit?) and he doesn't really know why, so I was hoping Dukascopy would have a very clear and definite clause about this.
  • #348
  • Sep 11, 2010 8:10am Sep 11, 2010 8:10am
What counts is what you sign in the account opening documents, not whats on their webpage.
  • #349
  • Sep 11, 2010 11:57am Sep 11, 2010 11:57am
Quoting klrman
I did have one question about Dukascopy. If I make a mistake and blow up my live account, could I be liable for any more funds other than the actual equity I have in a Dukascopy FX account?

The reason I ask is that on a different FX Broker website, not Dukascopy,it states that one cannot lose more than what is actually in their account in equity, but if you go to another page of their disclaimer, they clearly state that one can lose much more than the equity in their account and would be liable for it.

Confusing, so I called the broker and...
Trust me they're not going to lose money because of your poor money management skills. They'll close out your trade (margin call) or put you into a hedge which will just slow down the marging call against you unless you can manage your way out of the hedged position. Then again you can just close out of your trade for a loss.

Long story short. Proper money management is the key to your success!

Trade to trade well, no excuses!

JD
It's Easy To Get In;.. It's Hard To Get Out
  • #350
  • Sep 11, 2010 5:51pm Sep 11, 2010 5:51pm
Quoting klrman
I did have one question about Dukascopy....
The answer is to read very carefully the whole document which you sign when requesting an account be opened. I did, it was hard work and took me a few hours; but the answer to your question about loss is in there.

My document said that when the account equity value reaches zero my open positions will not be closed. There was some other text which described exactly the process to be followed and there is a point where any positions would be closed - which is anecdotal to me because I don't intend to ever be that close to the wire. If you are honest you don't either.

The positive side to this is that you will not be wiped out by temporary spikes that come back to a level close to previous pricing. The negative side is that you could end up owing them if you over-leverage your positions.
Minesweeper target: 284
  • #351
  • Sep 11, 2010 9:42pm Sep 11, 2010 9:42pm
Quoting Primate
The answer is to read very carefully the whole document which you sign when requesting an account be opened. I did, it was hard work and took me a few hours; but the answer to your question about loss is in there.

My document said that when the account equity value reaches zero my open positions will not be closed. There was some other text which described exactly the process to be followed and there is a point where any positions would be closed - which is anecdotal to me because I don't intend to ever be that close to the wire. If you...
Thanks Primate and everyone else! I noticed their fine print is very very long and am still going through it. I don't intend to ever be that close either but just wanted to know just in case.
  • #352
  • Edited 8:39pm Sep 13, 2010 2:13am | Edited 8:39pm
Anyone having problems with the Dukas web demo hanging? Position structure displayed I was up 9 pips so I took profit with 1 pip slippage control and I end up losing about $700??? I found out later the pip count was incorrect as the currency display in the bid/ask boxes was not moving so I had to reset the program under File/Reset. The thing I don't understand is that in their message box, there was no error warning before I took profit that their system was not displaying correct info. No warning after I took profit either to tell me their system was displaying all these errors with a result of me losing $1,600 from instead of being up $900 as was displayed on the P/L bar. Any thoughts?

It threw me off there for awhile when I was making money, yet after take profit my equity dropped $700 more. I'm hoping there is some warning flag somewhere on the platform that I am not aware of that I need to look at before any transaction, but was assuming it should all be in the message box as an hour before that when I was logged on, their was something like "FATAL ERROR/Reset Needed" message in the message box to warn me a reset was needed.
  • #353
  • Sep 13, 2010 9:53am Sep 13, 2010 9:53am
Quoting klrman
I did have one question about Dukascopy....
Hi

You can not run into debt with Dukascopy. Our platforms are designed that should your leverage hit 200% it will hedge your trades therefore not allowing you to trade more then what you have.

Also if / when your equity goes below $100 your account is frozen meaning you can not place any more trades. At this point you can either "top up" your account and continue to trade or if you chose you can withdraw the remaining funds from your account..

Thanks
Dukascopy Bank SA
  • #354
  • Sep 13, 2010 12:54pm Sep 13, 2010 12:54pm
Quoting Dukascopy
Hi

You can not run into debt with Dukascopy. Our platforms are designed that should your leverage hit 200% it will hedge your trades therefore not allowing you to trade more then what you have.

Also if / when your equity goes below $100 your account is frozen meaning you can not place any more trades. At this point you can either "top up" your account and continue to trade or if you chose you can withdraw the remaining funds from your account..

Thanks
Dukascopy Bank SA
Hello

Thank you for your reply! Could you post the exact equation to work out how one can determine the leverage at any given time? I noticed on my web demo account, I am at 11% leverage in one day with initial 100k deposit. So, I was wondering if I just deposited initially 20k in my account, what that % of leverage would have been.

Also, does Dukascopy have their own forum where questions such as these can be posted?

Thanks!
  • #355
  • Sep 14, 2010 12:25am Sep 14, 2010 12:25am
I really like their plataform, JForex... I use it as demo, for fun... i just dont open a account with them because we have to pay comissions, and it eat our profit :/
  • #356
  • Sep 14, 2010 4:57am Sep 14, 2010 4:57am
Quoting baruch
I really like their plataform, JForex... I use it as demo, for fun... i just dont open a account with them because we have to pay comissions, and it eat our profit :/
There is no free lunch, either pay commissions for a reputable ECN broker or no commissions to be at the mercy of MM
  • #357
  • Sep 14, 2010 11:26am Sep 14, 2010 11:26am
If anyone looks at commissions as being a bad thing then I say go with a Market Maker based broker. We all know there are no free rides and everything cost something, everyone wants to make money and should, Dukascopy seems pretty reasonable.

I am going to open a demo account with Dukascopy so I can get a feel for how the commissions will effect me, I suggest doing the same. Commissions are just one side of the equation and there is no need to weigh your decision based on that alone. Just my $0.02

Quoting baruch
I really like their plataform, JForex... I use it as demo, for fun... i just dont open a account with them because we have to pay comissions, and it eat our profit :/
  • #358
  • Sep 15, 2010 7:06am Sep 15, 2010 7:06am
Quoting klrman
I did have one question about Dukascopy....
Dukascopy has a stop-account-balance-loss option --- and it will kill your positions when you hit $100
  • #359
  • Sep 15, 2010 7:09am Sep 15, 2010 7:09am
Quoting ash234
There is no free lunch, either pay commissions for a reputable ECN broker or no commissions to be at the mercy of MM

Amazing how people think........
  • #360
  • Sep 15, 2010 10:44am Sep 15, 2010 10:44am
Usually commissions turn out to be cheaper than markups onto the spread, though not necessarily with dukascopy (their spreads are rather high)... Dukas' software is buggy... In a few aspects it may be advanced over MT4, but in many it's inferior (I am live with Dukascopy).
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