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ECN broker - Dukascopy/IB/Alpari Direct?

  • #1
  • First Post: Mar 5, 2011 1:25pm Mar 5, 2011 1:25pm
I'm looking to open a UK or European based ECN/Currenex style account for mostly day trading. Large account minimum requirement is not a problem, but I'd like to start trading Minis and work trade size up. I'd like quick and easy OCO entry with stop and multiple take profit levels, and a 'stop to breakeven 'facility would be good.

Current main contenders are:

IB - I've tried TWS and don't like it much, so maybe with Ninja Trader or Multicharts front end? Looks like good spreads, commission, and liquidity, but I don't fully understand their currency conversion system (I'll be trading mostly GBPUSD, probably with a GBP account). UK regulated, segregated accounts.

Dukascopy - highly recommended by account holders I know, haven't tried their platform yet. Spreads and commission OK, especially with larger account size or volume. Run by a bank, segregated accounts I think.

Alpari Direct - seem to be well recommended on forums, they don't post their commissions on the site that I can see (!)

With other possibilities of:
www.lmaxtrader.co.uk (but spreads and commissions are not the lowest).

Any comments on comparison between these brokers?

Thanks, Max
  • #2
  • Mar 5, 2011 3:38pm Mar 5, 2011 3:38pm
I have an account with Alpari as Classic NDD, not Direct. It is perfect. Everything is OK and I had no problem.
  • #3
  • Jun 23, 2011 2:58pm Jun 23, 2011 2:58pm
If you're not in US, go for dukascopy, otherwise IB (you'll have to figure out their platform though). Dukascopy was my choice no.1 until i heard the news that they're stopping trading with US clients in next month.

cheers.
  • #4
  • Jun 23, 2011 6:08pm Jun 23, 2011 6:08pm
Quoting Cerber.bf2
If you're not in US, go for dukascopy, otherwise IB (you'll have to figure out their platform though). Dukascopy was my choice no.1 until i heard the news that they're stopping trading with US clients in next month.

cheers.

You mean to say that Dukascopy will no longer be trading with US registrants? Please cite the source that you heard this from! I used their demo platforms for the past 5 months, and am moments away from opening an account with their brokerage firm.
  • #5
  • Jun 23, 2011 7:13pm Jun 23, 2011 7:13pm
if you choose Dukascopy use an IB so you can get up to 45% of the commisions back...too bad i missed that when i joined
  • #6
  • Jun 23, 2011 8:36pm Jun 23, 2011 8:36pm
Quoting arctrades
You mean to say that Dukascopy will no longer be trading with US registrants? Please cite the source that you heard this from! I used their demo platforms for the past 5 months, and am moments away from opening an account with their brokerage firm.
there you go
http://forexmagnates.com/dukascopy-t...its-technology

I feel you man. this sucks... I've been asking whether I can trade through someone else's account who is outside of US as an "authorized user" and didn't get a sound reply... I don't know, really want to trade with them.
Maybe I can just lie and write my relative's address and bank info who's in Russia....
  • #7
  • Jun 23, 2011 9:29pm Jun 23, 2011 9:29pm
Quoting arctrades
You mean to say that Dukascopy will no longer be trading with US registrants? Please cite the source that you heard this from! I used their demo platforms for the past 5 months, and am moments away from opening an account with their brokerage firm.
Unfortunately that is correct. I was notified on 6/15 they were closing US citizens accounts as of 7/15. I have the option to roll my account over to one of their US partners. I believe they are releasing the US partner names around 7/1. Not sure yet what I will do. I am not happy on getting booted out.
  • #8
  • Jun 24, 2011 1:59am Jun 24, 2011 1:59am
Quoting jrwaters67
Unfortunately that is correct. I was notified on 6/15 they were closing US citizens accounts as of 7/15. I have the option to roll my account over to one of their US partners. I believe they are releasing the US partner names around 7/1. Not sure yet what I will do. I am not happy on getting booted out.

Hey, thanks for the reply. I placed a few calls to the Dukascopy brokers today, and they are releasing as much information 'as is on their website'.. kept referring me to their "news feed."
  • #9
  • Jun 24, 2011 2:05am Jun 24, 2011 2:05am
Quoting torkay77
if you choose Dukascopy use an IB so you can get up to 45% of the commisions back...too bad i missed that when i joined
An IB? 45%? Ok I like the sound of that, this sounds more than useful, but I am not familiar with the term. I'll gladly accept any more information you or anyone else has on this IB. Thanks, arc
  • #10
  • Jun 24, 2011 2:13am Jun 24, 2011 2:13am
Quoting Cerber.bf2
there you go
http://forexmagnates.com/dukascopy-t...its-technology

I feel you man. this sucks... I've been asking whether I can trade through someone else's account who is outside of US as an "authorized user" and didn't get a sound reply... I don't know, really want to trade with them.
Maybe...

Because you gave me a laugh, I give you:
A riddle: the essential value is always the primary understated return. from russia, with love.

arc
  • #11
  • Last Post: Jun 24, 2011 5:11am Jun 24, 2011 5:11am
well don't know if it's allowed to post links here from IB's ...but the one i know you can find with a search of molecule + 6 in google
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