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Dukascopy Europe vs Dukascopy Bank SA 7 replies

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Dukascopy

  • #1,661
  • Apr 19, 2012 8:25am Apr 19, 2012 8:25am
Quoting Marv
Cool stuff m.m.m.



sure:
Nice

Though, I'm so used to seeing bids being on the left, and offers being on the right, that seeing a top and bottom button placement kinda messes with me.
FXGears.com
  • #1,662
  • Apr 19, 2012 9:58am Apr 19, 2012 9:58am
Quoting Black Fox
Your GUI and functionality built in looks very professional.
Judging by the image that you attached.

Are you experienced Java coder?
How many hours did you put into this work?
some of it is outsourced and most of the code isn't even for the GUI. It takes a lot of time for programming to sort out internal order tracking and automatic order closing/modifying for the bid/offer relative crossing. Around 2 weeks to sort everything out, test it, repair exceptions and have it functional for live trading.

I think jfx platform is ok, but some of the functionality isn't the best and they take a lot of time between updates.
  • #1,663
  • Apr 19, 2012 10:34am Apr 19, 2012 10:34am
Personally I don't manually write the code for the GUI, I just use Netbean's WYSIWYG designer and then either use the auto-generated code or copy it into my project. Problem solved, got the GUI I want.

Quoting Rikers
I think jfx platform is ok, but some of the functionality isn't the best and they take a lot of time between updates.
Agreed. But I'll say it's simply superior to MT4/MT5.
  • #1,664
  • Apr 19, 2012 1:46pm Apr 19, 2012 1:46pm
M.M.M. Did you bridge MT4 on dukascopy yourself?
OR
with the opensource "MT4 JForex Clients Bridge" from sourceforge:
http://sourceforge.net/projects/mt4dukabridge/
OR
with the Bridge that is featured on the duka website itself (1dollar per lot):
Fairtradingtech T3 Integration Bridge
http://www.fairtradingtech.com/t3-bridge/fee/

Thanks for the answer...


Quoting m.m.m.
Exactly! I too have assembled my personal gui around dukas' api and am happily trading with it--it's a life-saver! This way one does not depend on the way dukas handles things on their platform, or this or that missing feature, or bugs etc. I also managed to bridge mt4 this way and do not have to bother with this especially crippled piece of software, which seems to have been designed to make things impossible rather than possible for traders
  • #1,665
  • Apr 19, 2012 4:09pm Apr 19, 2012 4:09pm
Strange, just got an email from Duka stating they wont accept my photo ID drivers licence as ID; despite the fact it has been certified by Gov. rep. plus it is the primary form of ID here in Australia.

i dont own a current passport at present, nor do i have ID superior to the DL

i could send them a photo of myself autographed by the well known Australian Ambassador, Dame Edna Everage
...........surely that will suffice


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Attached Image
  • #1,666
  • Apr 19, 2012 6:48pm Apr 19, 2012 6:48pm
That sucks, but to be fair I don't see them mentioning anywhere that you can send a driver's license so no, not strange at all. They say passport or ID card and that's it. You have to take these things literally especially when dealing with a strictly-regulated institution. When they don't mention something, it's probably for a reason.
  • #1,667
  • Apr 19, 2012 7:19pm Apr 19, 2012 7:19pm
as i understand it, in my country a drivers licence is an ID card,
police, government officials, banks.......will use it to identify me

what's an ID card where you come from?

Quoting Marv
That sucks, but to be fair I don't see them mentioning anywhere that you can send a driver's license so no, not strange at all. They say passport or ID card and that's it. You have to take these things literally especially when dealing with a strictly-regulated institution. When they don't mention something, it's probably for a reason.
  • #1,668
  • Apr 19, 2012 7:44pm Apr 19, 2012 7:44pm
Quoting PeterE
as i understand it, in my country a drivers licence is an ID card,
police, government officials, banks.......will use it to identify me

what's an ID card where you come from?
Some countries (mine included) have a formal national ID card, while other countries (like yours) don't and they use informal ID cards instead, such as driver's license. But of course all countries have passports.

It seems that Switzerland is one of those countries that only use national ID cards and passports (source). So it sounds like getting a passport is your only option with Dukascopy.
  • #1,669
  • Apr 19, 2012 7:51pm Apr 19, 2012 7:51pm
perhaps

in the mean time i'll see if they will accept that a DL is my national ID, no harm in trying

Quoting Marv
So it sounds like getting a passport is your only option with Dukascopy.
  • #1,670
  • Apr 19, 2012 9:59pm Apr 19, 2012 9:59pm
Quoting PeterE
perhaps

in the mean time i'll see if they will accept that a DL is my national ID, no harm in trying

Hi Peter,

I have an account with Dukascopy and I can confirm that they "will" accept a notarized photocopy of your Driver's license as ID proof. In my case, I had to email them stating that I don't have a passport and my Driver's license was my only ID proof. They accepted it.

Regards.
  • #1,671
  • Apr 19, 2012 10:21pm Apr 19, 2012 10:21pm
thanks Scalper, i should be right then

Quoting Scalperforex
Hi Peter,

I have an account with Dukascopy and I can confirm that they "will" accept a notarized photocopy of your Driver's license as ID proof. In my case, I had to email them stating that I don't have a passport and my Driver's license was my only ID proof. They accepted it.

Regards.
  • #1,672
  • Edited 5:14am Apr 20, 2012 4:35am | Edited 5:14am
Quoting Liquid007
M.M.M. Did you bridge MT4 on dukascopy yourself?
Edit: I think there is a misunderstanding: I have (originally) mentioned MT4 only related to generally mention the benefits of programming.

I wrote a MT4 script that takes commands from an external application via tcp/ip (server) and thus it is of an universal nature and not in any way tied to DC in particular. The quotes on the other hand are provided by MT4 via DDE to my application. This way I can use my own application (that I otherwise use with jforex) to trade manually "through" MT4 with brokers that do not provide other means of sufficient api. This is because MT4 cannot provide me with the necessary comfort.
Reason being that I will likely have to leave DC because of new (for me unfavourable) treaties between my country of residence and switzerland..
  • #1,673
  • Apr 20, 2012 5:23am Apr 20, 2012 5:23am
I have been lurking in this thread for some time it seems the issue concerning certified documents is one often returned to. When you open an account with a regulated Swiss financial institution by correspondence (i.e. they do not meet you) they are required to obtain an authenticated copy of document that will allow them to identify you.
For those of you legally inclined here is link to the basis upon which Swiss banks must function http://www.finma.ch/archiv/ebk/e/ebk...A_CDB_08_e.pdf. There is other legislature but this is the primary documents stipulating the minimum to be done. Banks usually build on it in their internal directives and can be stricter than the minimum required. However once they include it in their internal directive it becomes law for them, i.e. if the bank does not follow its internal directive even if it still fulfills the minimum legal requirements, it would still be violating the law and can be sanctioned for it.
As for the identification documents, if you are opening an account by correspondence, you need:
A valid (not expired) document issued by the authorities either swiss or foreign, that contains:
1) Photo
2) Full Name
3) Birth date
4) Nationality / Citizenship *
5) Signature **
You must then have a copy of this document certified by a notary or equivalent (you could also send the original and request they take a copy and send it back, but I would not take the risk of it getting lost in the post, although you would save money on the notary). When you sign account opening documents make sure your signature resembles that on your id.
*These fields are not always obligatory
**If you do not have a document with a signature as is now the case in some countries you should have your signature notarized seperatly.
  • #1,674
  • Apr 20, 2012 3:09pm Apr 20, 2012 3:09pm
Quoting m.m.m.
Ok thanks for the info m.m.m.
  • #1,675
  • Apr 23, 2012 2:18pm Apr 23, 2012 2:18pm
Quoting Asmodian
I have been lurking in this thread for some time it seems the issue concerning certified documents is one often returned to. When you open an account with a regulated Swiss financial institution by correspondence (i.e. they do not meet you) they are required to obtain an authenticated copy of document that will allow them to identify you.
For those of you legally inclined here is link to the basis upon which Swiss banks must function http://www.finma.ch/archiv/ebk/e/ebk...A_CDB_08_e.pdf. There is other legislature...
Hi Asmodian. Thanks for your clarifications. I'm going thru such a bad time with Dukas. I'm with them for about 2 years now, but everytime I make a new deposit, they want to know the funds origin, my personal assets, bla, bla, bla.... and I'm getting sick of this....do you have any suggestion on another good broker to do business with without this embarassment ?

Regards,
MrJinks.
  • #1,676
  • Apr 26, 2012 4:55am Apr 26, 2012 4:55am
Quoting mrjinks
Hi Asmodian. Thanks for your clarifications. I'm going thru such a bad time with Dukas. I'm with them for about 2 years now, but everytime I make a new deposit, they want to know the funds origin, my personal assets, bla, bla, bla.... and I'm getting sick of this....do you have any suggestion on another good broker to do business with without this embarassment ?

Regards,
MrJinks.
Smells like another AML schizophrenic policy. Switzerland is the member of FATF, I guess that's the reason.

They have this Dukascopy Europe but it's not helpful, I guess. Google told me there is DIRECTIVE 2005/60/EC - http://eur-lex.europa.eu/LexUriServ/...png?v=15.1">DF

It basically asks banks to be paranoid with all the people performing cash operations exceeding the amount of 15 000 eur. Imagine how furious are former Eastern Block clients when European Banks ask them where the money comes from

So I guess we all should get used to it. I'm not Dukascopy are really happy with those policies either. And another guess is that they don't dig too deep. It's just to comply with the law.
  • #1,677
  • Apr 26, 2012 7:14am Apr 26, 2012 7:14am
Quoting Uilen
Smells like another AML schizophrenic policy. Switzerland is the member of FATF, I guess that's the reason.

They have this Dukascopy Europe but it's not helpful, I guess. Google told me there is DIRECTIVE 2005/60/EC - http://eur-lex.europa.eu/LexUriServ/...png?v=15.1">DF

It basically asks banks to be paranoid with all the people performing cash operations exceeding the amount of 15 000 eur. Imagine how furious are former Eastern Block clients when European Banks ask them where the money comes from...
Hi Uilen. Thanks for your explanations. Until this started to happen, I used to love Dukascopy service, but now I can say that I'm very disappointed with them. I am leaving Dukascopy because of that...Now I have to look for a new broker...Do you know any broker as good as Dukas but without that paranoia ?

Regards,
MrJinks.
  • #1,678
  • Apr 26, 2012 7:37am Apr 26, 2012 7:37am
Quoting mrjinks
Hi Uilen. Thanks for your explanations. Until this started to happen, I used to love Dukascopy service, but now I can say that I'm very disappointed with them. I am leaving Dukascopy because of that...Now I have to look for a new broker...Do you know any broker as good as Dukas but without that paranoia ?

Regards,
MrJinks.
I am afraid it's not their paranoia but the EU and NGOs. If you see any other reputable broker that has a banking license not following these regulations - they might be closed down.

Dukascopy just have no other choice - they, as far as I know, have 2 licences - EU and the Swiss one(read something about them opening an office in Hong Kong but I know nothing about it and not sure if it's helpful). Both countries are within the scope of those AML treaties.

You can try looking for another reputable broker that is registered outside the following countries:

 

  1. Argentina
  2. Australia
  3. Austria
  4. Belgium
  5. Brazil
  6. Canada
  7. China
  8. Denmark
  9. European Commission
  10. Finland
  11. France
  12. Germany
  13. Greece
  14. Gulf Co-operation Council
  15. Hong Kong, China
  16. Iceland
  17. India
  18. Ireland
  19. Italy
  20. Japan
  21. Kingdom of the Netherlands
  22. Luxembourg
  23. Mexico
  24. New Zealand
  25. Norway
  26. Portugal
  27. Republic of Korea
  28. Russian Federation
  29. Singapore
  30. South Africa
  31. Spain
  32. Sweden
  33. Switzerland
  34. Turkey
  35. United Kingdom
  36. United States


If you are residing in one of these, you'll still, theoretically, will be subject to AML acts/treaties.

I am afraid it's a matter of time that all the big brokerage firms will implement the same policies. Still, you know what you chose when picking a broker, didn't you? You wanted a Swiss firm

If you got something to hide - pick a bucket shop. Or legalize your income. Just don't know what to offer you. If not a secret, what's ur deposit size?

p.s. Ask them to change your account manager, maybe?

  • #1,679
  • Apr 26, 2012 8:55am Apr 26, 2012 8:55am
Quoting Uilen
I am afraid it's not their paranoia but the EU and NGOs. If you see any other reputable broker that has a banking license not following these regulations - they might be closed down.

Dukascopy just have no other choice - they, as far as I know, have 2 licences - EU and the Swiss one(read something about them opening an office in Hong Kong but I know nothing about it and not sure if it's helpful). Both countries are within the scope of those AML treaties.

You can try looking for another reputable broker that is registered outside the following...
Uilen, in fact, all the money I've put into Dukas were absolutely legal, nothing to hide at all. Problem was that, when I registered with Dukas, I identified myself as unemployed (I should've put "self-employed" instead) and all the money were gift from my parents. The deposit size on this time was US$ 4000...so I really don't think it was a considerable amount to pass through all this stressful experience....anyway, I'm leaving Dukas....considering another brokerage firm without the so-called "Banking License"....thanks for your clarifications. I did apreciate it...

Regards,
MrJinks.
  • #1,680
  • Apr 26, 2012 9:05am Apr 26, 2012 9:05am
Quoting mrjinks
Uilen, in fact, all the money I've put into Dukas were absolutely legal, nothing to hide at all. Problem was that, when I registered with Dukas, I identified myself as unemployed (I should've put "self-employed" instead) and all the money were gift from my parents. The deposit size on this time was US$ 4000...so I really don't think it was a considerable amount to pass through all this stressful experience....anyway, I'm leaving Dukas....considering another brokerage firm without the so-called "Banking License"....thanks for your clarifications....

Oh. Why don't you tell them you are self-employed? Still, it's your call Good luck with searching
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