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my experience IB and dukascopy

  • #41
  • Apr 11, 2010 10:28pm Apr 11, 2010 10:28pm
Now its 1000USD to open a retail account

I am using the demo...so far I like the client.

I will drop Oanda like its hot if this plays nicely during news. I hate Onada's bulls**t during news

KT
  • #42
  • Apr 11, 2010 11:23pm Apr 11, 2010 11:23pm
Quoting kentashiburo
Now its 1000USD to open a retail account

I am using the demo...so far I like the client.

I will drop Oanda like its hot if this plays nicely during news. I hate Onada's bulls**t during news

KT

1000$ only? They are regulated yet or still not? Did they get their bank license? I have many doubts about to choice Dukas or MBT to open an ECN account, I have heard better opinions about Dukas but they use half pip round in prices and I don't like it...
  • #43
  • Apr 12, 2010 3:49am Apr 12, 2010 3:49am
Quoting matouwah
it's down to 5k now....
can u explain what u mean by temporary, as i am planning on opening an account with them for around 5-6k.
Serious brokers rarely try to hook in new traders with "special, limited time only low deposit amount" crap. This is purely my personal opinion but I would be careful.

In general with FX, If you have less then 25k, well, you are probably better off not trading life at all. Forex is hard enough by itself and it is a nightmare when your broker plays against you.

If you have 25+k to invest, the only real option is full insitutional Currenex (CX) or Hotspot FXi. Both are available via several serious brokers (admd, lcg, baxter to name few).

A word of warning on CX: They launched a new platform which looks like almost like "good old CX" but it is not, it seems to be a replacement for their Viking Trader, which was a MM platform. Alpari for one sells exactly this as their "Pro" platform.
  • #44
  • Apr 12, 2010 6:17am Apr 12, 2010 6:17am
Quoting don.key
In general with FX, If you have less then 25k, well, you are probably better off not trading life at all.
Heard that so much yet what is the difference in doubling $250 or doubling $25k? It's a really arbitary and useless opinion to express to others mate, I and others make spare cash off of $200 whenever we want. When we go full time, yes we will put more in the account, but principles remain.

Use cash you can afford to LOSE. There are no restraints. You're either a good trader or you're not. Greater capital 'required' to be successful is the dumbest misconception ever....hence fx has such large leverage, to draw people in who want to make big bucks from small.. as much as you may hate that idea, it is quite real.
  • #45
  • Apr 12, 2010 6:56am Apr 12, 2010 6:56am
Quoting Sim
Heard that so much yet what is the difference in doubling $250 or doubling $25k? It's a really arbitary and useless opinion to express to others mate, I and others make spare cash off of $200 whenever we want. When we go full time, yes we will put more in the account, but principles remain.

Use cash you can afford to LOSE. There are no restraints. You're either a good trader or you're not. Greater capital 'required' to be successful is the dumbest misconception ever....hence fx has such large leverage, to draw people in who want to make big bucks...
You did not get me, the problem is not the amount, the problem is that you cannot really do a full ECN without 25k initial deposit (AND unfortunately 40k minimum trade size).

VERY Unfortunately ONLY real ECN broker which lives on the fees, not on your losses is a broker you can trust in.

FX is hardest and least rewarding (but fun) business I have came around, last thing you need in addition to all complexity is a crooked broker which screwes with you.
  • #46
  • Apr 12, 2010 7:08am Apr 12, 2010 7:08am
OK I understand, but on the matter of TRUE ECNs.. I think you're a bit misguided..

are you under the impression that these ECNs do not just forward your trades to a larger bank/liquidity provider? Because they all do.. there is not much difference between an IB for a bucket shop and a TRUE ECN.. accountability is always passed on so in fact it is more reliable for you with high capital to trade directly with a big bucket shop.. least that way you can hold them accountablt when/if they get caught out.
  • #47
  • Apr 12, 2010 10:25am Apr 12, 2010 10:25am
I have the solution for a REAL ECN broker, and you can trade as little as 10$!!! Yes my friend! The only thing you have to do is: Do you think EURUSD is gonna go up next months? OK, take your dollars, go to the FEDERAL RESERVE and exchange them for euros; then, after few month, when EURUSD returns to 1'5, go to the FED again and exchange your euros to dollars, THAT'S ALL man, you can even scalp if you have 2 bank accounts, one in dollars and one in euros, by transferring the money from one to another or scalping in your bank window mate!!: when you exchange the money, take another ticket and wait your turn and then exchange it another time to the previous currency!!!, it's very easy to trade forex DIRECTLY.
  • #48
  • Apr 12, 2010 10:40am Apr 12, 2010 10:40am
Quoting Trad3r
I have the solution for a REAL ECN broker, and you can trade as little as 10$!!! Yes my friend! The only thing you have to do is: Do you think EURUSD is gonna go up next months? OK, take your dollars, go to the FEDERAL RESERVE and exchange them for euros; then, after few month, when EURUSD returns to 1'5, go to the FED again and exchange your euros to dollars, THAT'S ALL man, you can even scalp if you have 2 bank accounts, one in dollars and one in euros, by transferring the money from one to another or scalping in your bank window mate!!: when...
You'd automatically lose hundreds of pips (no coin smaller than 1 cent)
  • #49
  • May 10, 2010 9:50pm May 10, 2010 9:50pm
Quoting Trad3r
1000$ only? They are regulated yet or still not? Did they get their bank license? I have many doubts about to choice Dukas or MBT to open an ECN account, I have heard better opinions about Dukas but they use half pip round in prices and I don't like it...
They are not regulated till now, but seems they will get this in next time. This was also a thing i was worried about at beginning, but so long all very fine. Offcourse i hope the regulation will come this or next month as official statement.

The half pip is true, its not possible to use space between 0,5 and 1 pip for entry or exit orders (only for rollovers you see it sometimes), but i dont need this, so it was not important for me. If you scalp in very very narrow spaces then may be important.

For Commission Rebat I use Molecule6 as Introducing Agent, so get 45% commissions back and have so only near half price for commission. Also they have a good bridge in testing for copying trades from a master account to client accounts. This works very fine. Even with their metatrader programm is same possible, so i dont need to use the Jforexstation for setting trades, but i am in first week testing for this.
  • #50
  • May 11, 2010 1:30am May 11, 2010 1:30am
Quoting MoleculeDuka
They are not regulated till now, but seems they will get this in next time. This was also a thing i was worried about at beginning, but so long all very fine. Offcourse i hope the regulation will come this or next month as official statement.

The half pip is true, its not possible to use space between 0,5 and 1 pip for entry or exit orders (only for rollovers you see it sometimes), but i dont need this, so it was not important for me. If you scalp in very very narrow spaces then may be important.

For Commission Rebat I use Molecule6 as Introducing...
Hmm... Mole6 is not the only one that provides a 45% rebate. Just do your homework (so to speak) traders.

JD
It's Easy To Get In;.. It's Hard To Get Out
  • #51
  • Sep 23, 2010 5:16am Sep 23, 2010 5:16am
Quoting John D
Hmm... Mole6 is not the only one that provides a 45% rebate. Just do your homework (so to speak) traders.

JD
Hmm...I agree with you...
There are bunch of IAs offering much more commission rebates...
just need to do your home work and find the right one...
FrozenThought
  • #52
  • Sep 27, 2010 5:19am Sep 27, 2010 5:19am
i just wonder why a company in gerneral can exist when they treat their clients like they are not important

me and some friends contacted them and they never reply to emails working very slow on requests and yes some call them arrogant
  • #53
  • Sep 28, 2010 2:20pm Sep 28, 2010 2:20pm
Quoting cooltrader28
i just wonder why a company in gerneral can exist when they treat their clients like they are not important

me and some friends contacted them and they never reply to emails working very slow on requests and yes some call them arrogant
They are probably not arrogant but very busy. I had my own business for 10 years and when it took off after the first year, many thought we were arrogant not getting back to everyone right away, but we were just overloaded with work and the phone rings and email messages never slowed down. I bet that is what is probably going on.
  • #54
  • Sep 28, 2010 2:36pm Sep 28, 2010 2:36pm
Quoting cooltrader28
i just wonder why a company in gerneral can exist when they treat their clients like they are not important

me and some friends contacted them and they never reply to emails working very slow on requests and yes some call them arrogant
Just so you know email is probably the WORST way you can communicate with a busy company to get an immediate response if that is what you are looking for. Just call or use their on platform Skype tool to talk live.

JD
It's Easy To Get In;.. It's Hard To Get Out
  • #55
  • Feb 7, 2011 6:54am Feb 7, 2011 6:54am
Quoting longzhan
what do you means？ i don’t get it！
Well...think about it
With market orders you :
BUY @ ASK price
SELL@ BID price

But what is going to happen if you could:

BUY @ BID price
SELL@ASK price
  • #56
  • Feb 7, 2011 6:59am Feb 7, 2011 6:59am
But unfortunately the internal market's liquidity seems not to be that satisfying
  • #57
  • Feb 9, 2011 10:34am Feb 9, 2011 10:34am
how do you find 0.5-1.0 spread for eur/usd at dukascopy?

i tried their demo (which is the same feed as live environment) the spread ranges 1.0-1.3 most of the time..
  • #58
  • Mar 12, 2012 1:57pm Mar 12, 2012 1:57pm
Im also looking for spreads of around 0.6 with low comission.

Can anyone recommend a provider?

Also, Dukascopy do they have a good offering to those who have an account?
  • #59
  • Mar 13, 2012 4:10am Mar 13, 2012 4:10am
0.6 spread only with 50 % ibs from dukascopy
additional they treat IBīs like BS
no notice contracts killed so the client still gets 100% and high price feed !
oh yeah swiss ..

i stick with pfg now although im not US resident
  • #60
  • Mar 13, 2012 6:01am Mar 13, 2012 6:01am
Quoting chase1
0.6 spread only with 50 % ibs from dukascopy
additional they treat IBīs like BS
no notice contracts killed so the client still gets 100% and high price feed !
oh yeah swiss ..

i stick with pfg now although im not US resident
Hi Chase1, what's the spread for EU and GU in PFG ?
~~ Happy Trading ~~
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