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  • #981
  • Mar 11, 2011 4:33am Mar 11, 2011 4:33am
Quoting maxr
I wrote:


Just got the answer to this from Dukscopy Support. Yes, WYSIWYG for the Dukascopy platform, but the good news is that we can now use Multicharts software with a Dukascopy account (including, presumably , their free platform) That's more like it!

Max
Max,

What would be the benefit(s) of using Multicharts? What kind of additional functionality does this platform offer over Jforex?
It's not about how much you make, it's about how much you don't lose.
  • #982
  • Mar 11, 2011 9:00am Mar 11, 2011 9:00am
Quoting alex_000
DukasCopy ad with Gerard Depardieu is a total failure. Don't know what kind of reactions you were expecting, but you have failed in every way. You paid a fat old man to pretend, that he knows what he's talking about. The script blows. Man, I'm so disappointed in you guys. Fire that guy who thought that it's a good idea to make this video AND to banner it in my face on your own website. Geez
Made me laugh
  • #983
  • Mar 14, 2011 5:30am Mar 14, 2011 5:30am
Got this from Dukascopy's risk disclosure document. I am sure this is not new to some of you guys.

"15. Conflicts of Interests
The Client understands that the business model of the SWFX Swiss Forex Marketplace consists in ensuring best execution for the transactions of the Clients and matching the transactions between any of its Clients or
Counterparties, each trade being instantly hedged with a countertrade. In that respect, on the SWFX Swiss Forex Marketplace, Dukascopy is counterparty of each trade and counter trade. In some circumstances,
Dukascopy may not hedge entirely or may not hedge at all certain trades. In such cases, Dukascopy may have opposite positions towards Clients.
Dukascopy limits to possible minimum the potential conflict of interests and acts in the best interests of the Clients."

Was looking for an equivalent on MBTrading. One paragraph reads

"The foreign currency trades you transact are trades with the futures commission merchant or retail foreign exchange dealer as your counterparty. WHEN YOU SELL, THE DEALER IS THE BUYER.
WHEN YOU BUY, THE DEALER IS THE SELLER. As a result, when you lose money trading, your dealer is making money on such trades, in addition to any fees, commissions, or spreads the dealer may charge."

Is it "inevitable" that ECN brokers do have to make the market on occasions?
  • #984
  • Mar 14, 2011 6:27am Mar 14, 2011 6:27am
My understanding after reading the forums was that Multicharts only worked with the FIX side of DK. That mean a $100,000 account deposit and it means no history in your data charts. So it works for large scale scalpers but not for manual traders.

It does not work with the JForex API side.

Do I have that correct?

Quoting maxr
I wrote:


Just got the answer to this from Dukscopy Support. Yes, WYSIWYG for the Dukascopy platform, but the good news is that we can now use Multicharts software with a Dukascopy account (including, presumably , their free platform) That's more like it!

Max
  • #985
  • Mar 14, 2011 6:35am Mar 14, 2011 6:35am
Quoting Dukascopy
Hi

If you are trading 0.001(millions) then 1 pip is equal to $0.10 depending on the pairs you are trading. If you trade 0.01 then you will get 1 pip = $1.

You can adjust the lot amount settings by going to Preferences >>> General and selecting from Millions, Thousands or Units.

I hope this helps
Many Thanks
Dukascopy Bank SA
Thanks! I will do that!
  • #986
  • Mar 14, 2011 8:20am Mar 14, 2011 8:20am
Quoting Dhb

What would be the benefit(s) of using Multicharts?
1. The quality of interactions between you and the platform provider:
- if you experience problems with Multicharts you get immediate help through desk help and forum. If you report a bug, it is immediately displayed for the public: http://www.multicharts.com/pm/
- if you have problems with Jforex and you post on Duka's forum your posts are moderated and often deleted. If you somehow manage to post a bug your post is unaswered for ages. If you notify Duka about a bug you receive an e-mail with a ticket that is NEVER addressed later. I bet Jforex developers' drawers are full of bug notifications.

2. The quality of the platform:
- Multicharts is a stable platform
- Jforex is a bad joke. It cannot even plot bars properly (see the picture), but its developers claim that you can create complex strategies with it! I hope we can agree you cannot create even a simple startegy and trust it if your bars are wrong!!!

Yes, I know person named Dukascopy says their clients like Jforex and I am ready to believe this claim as I already proved that Dukascopy's client base consists of low IQ grandpas. If you were a low IQ grandpa with low trading performance you wouldn't care about the quality of your platform, which is testified to in the picture.
Attached Image (click to enlarge)
Click to Enlarge Name: 1 pip.jpg Size: 44 KB
  • #987
  • Mar 14, 2011 8:26am Mar 14, 2011 8:26am
Quoting Dhb
What kind of additional functionality does this platform offer over Jforex?
Dhb,

Just go there: http://www.multicharts.com/free/ and dowload a free version of Multicharts that you can hook to MBT or IB or PFG or OEC or FXCM or any other broker to see for yourself.

BTW Jforex developers should also visit the link and see how much of Dukascopy's money, time and effort was wasted on their hobby.

Note Multicharts will not brew a coffee for you and will not sing and dance.
  • #988
  • Mar 14, 2011 2:48pm Mar 14, 2011 2:48pm
Well, there is one good thing about jforex. It is quite easily possible to do your own stuff within jforex. The api allows you to obtain a custom area within the application, and, if you're fond of it, you can do your own charting and organise data the way you like it, through strategy, and to only use jforex as a means to obtain data and execute orders. Or just to add functionality to it. Within that custom area (pane/s) you can pretty much do everything that you can do with java, and, well, that's a lot. And with no extra pain.
  • #989
  • Mar 14, 2011 3:34pm Mar 14, 2011 3:34pm
Any news about what will happen on July 16th 2011??
  • #990
  • Mar 14, 2011 5:57pm Mar 14, 2011 5:57pm
I use tradeinterceptor to connect to dukascopy live account.
The platform support desktop and i use iphone/ipad version but there is also for android. There is also possibility to create custum strategy or indicator using a java api language. overall very very cool platform and free.
  • #991
  • Mar 14, 2011 8:27pm Mar 14, 2011 8:27pm
i just tried it in demo and like it BUT as i am already a Live DK client they cannot accept me at tradeinterceptor as a client. They can only accept new DK clients. I was told that by their support team at tradeinterceptor just prior to posting this message.

Quoting Rfbfx
I use tradeinterceptor to connect to dukascopy live account.
The platform support desktop and i use iphone/ipad version but there is also for android. There is also possibility to create custum strategy or indicator using a java api language. overall very very cool platform and free.
  • #992
  • Mar 15, 2011 4:44am Mar 15, 2011 4:44am
Quoting Dhb
Max,

What would be the benefit(s) of using Multicharts? What kind of additional functionality does this platform offer over Jforex?
Sorry Dhb, I meant to reply to your question quickly, but Carl_Vosp replied better anyway.

Jforex has one virtue - it looks simple at first sight. If you want to see what a really comprehensive platform can do for you, by all means demo MultiCharts, but also download Ninja Trader and give that a go - it's free unlimited for evaluation and paper trading.

It depends what you use for your trading. With NinjaTrader, you can quickly set up an order with say an entry, initial stop loss, 1-3 profit target orders and an automated stop to breakeven. If you want to go play golf and let that run, or let it take charge of a fast news trade quicker than you can click a mouse, it will do so. If you activate chart trading, all these levels and your entry are show right on the chart, and you can move the price on open orders (e.g. to widen a take profit order if it starts to run or narrow the initial stop loss if it looks like going against you) by click and drag on the chart - that's brilliant because it's much harder to get that worng than fiddling about with numbers on the order window. Dukas don't support Ninja trader, so it looks like IB and Ninja for me.

Max
  • #993
  • Mar 15, 2011 9:51am Mar 15, 2011 9:51am
Thanks to both you guys for your answers, Karl and Maxr. I'll look into the possibilities of MC and NT for sure.
It's not about how much you make, it's about how much you don't lose.
  • #994
  • Mar 15, 2011 10:16am Mar 15, 2011 10:16am
Quoting Dhb
Thanks to both you guys for your answers, Karl and Maxr. I'll look into the possibilities of MC and NT for sure.
Good.
  • #995
  • Mar 15, 2011 11:15am Mar 15, 2011 11:15am
Karl or maxr,

I will likely be opening an account with Dukas in the near future and I finally decided to download and start working with Jforex last night. Now with the discussion of the release of the free version of MultiCharts that can be used with Dukas, I suspect I should just forgo learning Jforex and learn MultiCharts instead. Is there some reason not to?

One concern that I have though is the statement on the MultiCharts page that says "*Dukascopy and FXCM are not currently supported in the DOM, but are available for chart trading." I am not sure of the significance of this. Could you possibly explain?

Thanks for any assistance and explanations.
  • #996
  • Mar 15, 2011 12:25pm Mar 15, 2011 12:25pm
Quoting toadkelly200
I will likely be opening an account with Dukas in the near future and I finally decided to download and start working with Jforex last night.
In my opinion you need more than 1 night to assess a platform. As you can see on the picture I posted on the previous page Jforex is not even capable of plotting the very basic 1 pip bars correctly. Imagine what you will know about Jforex after you test it for a few days.


Quoting toadkelly200
I suspect I should just forgo learning Jforex and learn MultiCharts instead.
If your account is above $100k this might be an option for you. Duka allows to trade MC when you deposit not less than this amount.

Quoting toadkelly200
Is there some reason not to?
There is at least one reason for you to learn other platforms than Jforex. Extra knowledge never hurts.

I think that knowledge you'll gain will be priceless when:
1. You'll decide to switch from Dukascopy to another broker in the future.
2. You decide not to open account at Dukascopy and go for another, technically more advanced broker (this option is chosen by a large number of Duka's potential clients).
3. The head of IT at Dukascopy is finally fired, which will allow for good platforms be finally available at Dukascopy.

Point 3 is unlikely to happen because the head of IT at Dukascopy (and at the same time the guy responsible for Jforex disaster) is Mr Andrey Duka, the owner of Dukascopy. You can't fire the owner, can you?
Quoting toadkelly200
One concern that I have though is the statement on the MultiCharts page that says "*Dukascopy and FXCM are not currently supported in the DOM, but are available for chart trading." I am not sure of the significance of this. Could you possibly explain?
DOM isn't the available option in Jforex platform anyway, so you shouldn't worry. Go to youtube and search for 'Dom trading' to learn more
  • #997
  • Mar 15, 2011 12:56pm Mar 15, 2011 12:56pm
Thanks for the reply.

I agree that one night is not enough to assess a platform, but at this point, and especially after your reply, I don't know if I really want to spend any time on Jforex if I am not making the right choice selecting a broker. I am also somewhat apprehensive as a US citizen without a clear statement from Dukas as to what will happen to US private accounts later this year.

Do you have any suggestions for a "technically more advanced broker" that might be a better choice?

I will look for DOM trading on Youtube as you suggest.

Again thank you.
  • #998
  • Mar 15, 2011 1:25pm Mar 15, 2011 1:25pm
Quoting toadkelly200
Do you have any suggestions for a "technically more advanced broker" that might be a better choice?
Jforex platform is the worst platform I tried (and I tried many platforms in my life). Jforex platform has:
- only basic functionalities, which even beginners in trading may find insufficient and
- lots of bugs, which advanced traders find unacceptable.

If you are after a broker that is technically more advanced than Dukascopy, you only need to pick ... any broker whose name is not Dukascopy (from what I know only this broker uses this platform).

Go for Oanda: same spreads as Dukascopy + reasonably reliable Metatrader or wait:
- 40 years till you become a low IQ grandpa in which case the quality of the trading platform will matter for you NOT
- for eternity for the head of IT at Dukascopy to be fired
  • #999
  • Mar 15, 2011 4:53pm Mar 15, 2011 4:53pm
Quoting Karl_Vosp
Go for Oanda: same spreads as Dukascopy + reasonably reliable Metatrader...
Unless you're outside USA and Canada - because Oanda Canada tell me they only like Canadians, and if you're outside USA you may not want a US regulated account at this particular moment. You can open an account with Oanda Asia Pacific, based in Singapore, dunno about fund security or regulation. They also have an office in Dubai, whose website 'Welcomes our Middle east Clients' - it may be that, like Oanda Canada, they don't welcome anyone else, they don't say.

You might also like to read the threads on IB (Interactive Brokers), and if you're in UK, Alpari UK.

Max
  • #1,000
  • Mar 16, 2011 6:26am Mar 16, 2011 6:26am
Hello and this is my first post! Right now I'm with a broker in the Benelux (WHSelfinvest) and haven't done any live trading yet. However I'm looking to join another broker possibly (right now looking at IB/Dukas/Oanda) and ofcourse reading up on Delta.

Am i calculating it wrong or is there a typo on their site:
http://www.deltastock.com/english/in...ble-spread.asp
CommissionsOrders from 1 000 to 10 000 units:
0.005% of the base currency
Orders greater than 10 000 units:
0.003% of the base currency

Doesn't this mean there's a 5 pip commission 1000-10k units and 3 pip commission > 10k units? Most commissions for ECN's are 0.3 pips right.. ?

Also their ECN and/or fixed spreads seem to make them ideal for trading news. Am I right in that and is there anyone with experience regarding that?

Thanks!
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