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Dukascopy

  • #1,901
  • Jul 19, 2012 6:41am Jul 19, 2012 6:41am
Quoting Marv
Something like 40 million.

My point was that LMAX liquidity is not "thin" as claimed, especially by retail market standards. You can easily fill a 10 mill order within 1 pip slippage.

Here's a random screen shot (100 = 1 million). If you consider that "thin", I'll assume you have millions in funds and you should probably go to a prime bank.
Thanks for the answer, that kind of funds is waaaaaaaaaaaaaayyyyyyyyy ahead of my league but its good to know what's considered a lot of money in the forex market.
  • #1,902
  • Jul 19, 2012 6:49am Jul 19, 2012 6:49am
Quoting bellieres
Remark: prime brokers are used to reduce counterparty risk and are not relevant to define the ECN model.

Nobody said they are.

Quoting bellieres
Because Dukascopy Bank is the counterparty of all client trades

It sure is. Dukascopy is acting as a middleman between clients, instead of letting them trade directly against each other and against a network of liquidity providers 100% of the time.

Quoting bellieres
Our FAQ also explains why the SWFX – Swiss Forex Marketplace of Dukascopy Bank shall be defined as an ECN.
In your FAQ, you define an ECN as:

"An ECN trading environment is recognizable by the addition of the following attributes: existence of a marketplace where traders can trade against each other, displaying of the market depth including clients’ place bid and place offer orders, variable spreads, STP execution with no dealing desk and competition between various bids and asks placed on the marketplace, same price feed for all participants."

And since you satisfy those conditions you then conclude that you are an ECN.

Okay, well here's how an ECN is really defined:

"An electronic system that attempts to eliminate the role of a third party in the execution of orders entered by an exchange market maker or an over-the-counter market maker, and permits such orders to be entirely or partly executed.

An ECN connects major brokerages and individual traders so that they can trade directly between themselves without having to go through a middleman."

Is that clear enough?

Quoting bellieres
Our friendly advice: we recommend traders to focus and compare brokers based on parameters which, at the end of the day really make a difference on their accounts, such as: execution prices, quality of datafeed, liquidity, system reliability, platform accessibility including API if any, probability of execution / order reject, spreads, speed of execution, trading environment including risk monitoring tools, available types of orders, client support, reputation, regulation, transparency and integrity of the broker....


My friendly advice: Your datafeed, platform/API, and regulation are great, I love them all. But what really makes a difference on our day to day profitability is execution speed, execution costs (spreads, slippage), accessed liquidity, etc. All of these are related to the trading model, that's why the model is most important especially for the more frequent day traders like myself. Yours is not a very competitive one, especially compared to some other offerings out there today who provide a more direct and 'true' ECN access for the same price.

Provide a true direct access and raw (non-padded) spreads like those real ECN's do and I might come back to you. But this "in between" kind of model is no longer as interesting and effective in luring traders in as it was a few years ago. Today it's very easy for a retail trader with 500 bucks to get truly institutional conditions, you might as well join the party.
  • #1,903
  • Jul 19, 2012 6:59am Jul 19, 2012 6:59am
Quoting Demos4x
Thanks for the answer, that kind of funds is waaaaaaaaaaaaaayyyyyyyyy ahead of my league but its good to know what's considered a lot of money in the forex market.
No problem, but I have to note that it is just what I would consider a massive order, not what the market considers a lot of money. There is no "official" size for that, it's all subjective. For some people $1000 per pip is nothing. For mortals like us $50 per pip makes us sweat.
  • #1,904
  • Jul 19, 2012 7:00am Jul 19, 2012 7:00am
Quoting Marv

Nobody said they are.



It sure is. Dukascopy is acting as a middleman between clients, instead of letting them trade directly against each other and against a network of liquidity providers 100% of the time.



In your FAQ, you define an ECN as:

[i]"An ECN trading environment is recognizable by the addition of the following attributes: existence of a marketplace where traders can trade against each other, displaying of the market depth including...
Correct in all points.
  • #1,905
  • Jul 19, 2012 6:49pm Jul 19, 2012 6:49pm
@ Marv..

Are you really from North Korea ??
How to opt out annoying user signatures ??
  • #1,906
  • Jul 19, 2012 10:47pm Jul 19, 2012 10:47pm
haha of course not.
  • #1,907
  • Jul 19, 2012 11:04pm Jul 19, 2012 11:04pm
mhh, sad. It would be nice to meet someone from NK

Nice people. I think..

(imsuretheylikedukascopymorethanyouthatsforsureandtheydontcareaboutslippage..)
How to opt out annoying user signatures ??
  • #1,908
  • Jul 19, 2012 11:55pm Jul 19, 2012 11:55pm
Quoting Toranaga
mhh, sad. It would be nice to meet someone from NK

Nice people. I think..

(imsuretheylikedukascopymorethanyouthatsforsureandtheydontcareaboutslippage..)
*facepalm*
  • #1,909
  • Jul 21, 2012 5:58am Jul 21, 2012 5:58am
Quoting Marv
[font=&quot]
Today it's very easy for a retail trader with 500 bucks to get truly institutional conditions, you might as well join the party.
Any names?
  • #1,910
  • Jul 21, 2012 12:31pm Jul 21, 2012 12:31pm
to Marv> Hi man, haven't been here a while, just wondering if you went with Duka.eu, despite their funding-defunding policy?

thx and have a good weekend, all of you here

vas69
gonnwall
  • #1,911
  • Jul 23, 2012 8:16am Jul 23, 2012 8:16am
Quoting dns_di
Any names?
Here's my recommendation:

http://www.forexfactory.com/showthre...25#post5841625

Quoting vas69
to Marv> Hi man, haven't been here a while, just wondering if you went with Duka.eu, despite their funding-defunding policy?

thx and have a good weekend, all of you here

vas69
Hi vas69. Yeah I did open an account but after some testing decided not to trade there. I wasn't too excited about the overall spreads and slippage I was experiencing, and I found a better deal elsewhere, so I switched to it. I'm going to stick with it for a while as I'm happy with the trading costs and execution quality.
  • #1,912
  • Jul 23, 2012 8:44pm Jul 23, 2012 8:44pm
dukascopy europe say i cant setup a referring broker after i have already opened an account. is this true? do i have to setup another account through a referring broker like molecule6 to get the rebates?
i wonder if i get a better spread not having any rebates?
  • #1,913
  • Jul 23, 2012 9:10pm Jul 23, 2012 9:10pm
Quoting craig65
dukascopy europe say i cant setup a referring broker after i have already opened an account. is this true? do i have to setup another account through a referring broker like molecule6 to get the rebates?
i wonder if i get a better spread not having any rebates?
I'm afraid it's too late. You can no longer use a referring bröker even if you try to reopen the account.
  • #1,914
  • Jul 24, 2012 12:27am Jul 24, 2012 12:27am
who has the real acc with Dukascopy now? how is it going with requotes??
very nice, good price..!
  • #1,915
  • Jul 25, 2012 2:08am Jul 25, 2012 2:08am
Platform freeze @7:00-7:01 GMT for several seconds at a time on the ~50 pip move in EU, anyone?
  • #1,916
  • Jul 25, 2012 2:50am Jul 25, 2012 2:50am
i get rebates with my pepperstone account. i am pretty sure it does effect the prices i get.
referring brokers have always got a commission on every trade you make. thats how they make money. there not doing it because there really nice guys.
i know the referring brokers deny this nowadays but i question if its true.
in hindsight i am glad i didnt use a referring broker with my dukascopy account.
i bet the problems some of you guys in this thread are having with prices etc are related to the referring broker rebates.
  • #1,917
  • Jul 25, 2012 3:34am Jul 25, 2012 3:34am
Quoting craig65
dukascopy europe say i cant setup a referring broker after i have already opened an account. is this true? do i have to setup another account through a referring broker like molecule6 to get the rebates?
i wonder if i get a better spread not having any rebates?
If Dukascopy Europe said you can you understand correctly, then you have a high probabilities of that be true. Ask then how its possible.
Quoting Marv
I'm afraid it's too late. You can no longer use a referring bröker even if you try to reopen the account.
For what I understand you don't have a Dukas account (maybe I understand wrong) but you can't say that maybe they changed politics to keep clients they seem to be doing that recently in commissions. Bottom line: Craig inform yourself with dukascopy.
  • #1,918
  • Jul 25, 2012 3:41am Jul 25, 2012 3:41am
Quoting craig65
i get rebates with my pepperstone account. i am pretty sure it does effect the prices i get.
referring brokers have always got a commission on every trade you make. thats how they make money. there not doing it because there really nice guys.
i know the referring brokers deny this nowadays but i question if its true.
in hindsight i am glad i didnt use a referring broker with my dukascopy account.
i bet the problems some of you guys in this thread are having with prices etc are related to the referring broker rebates.
But the rebates aren't suppose to affect prices, it will affect the commission that you pay. I never saw a introduction broker that didn't said he will never keep the money, because that's their payment for bringing you to that broker , actually everyone that I saw always say who much in percentage they will give you back and how much would they keep it, and i'm talking only of introducing agents of Dukascopy.
  • #1,919
  • Edited 5:50am Jul 25, 2012 5:39am | Edited 5:50am
Quoting Demos4x
For what I understand you don't have a Dukas account (maybe I understand wrong) but you can't say that maybe they changed politics to keep clients they seem to be doing that recently in commissions. Bottom line: Craig inform yourself with dukascopy.
I do have an account through an introducing agent (molecule6) and rebates (I just don't trade here anymore). I'm pretty sure the policy has always been there and still is to avoid abuse of the rebates program, this is not a charity. Trying to reopen the account won't work -- they already have your name on records.

@Craig: yeah as Demos4x said, rebates have nothing to do with market prices. They're just reductions on commissions for signing up through an introducing agent. It works like this:

1) Dukascopy takes 50% of your commissions and gives the other 50% to the agent that (theoretically) brought you to them. It does it to encourage introducing agents to bring them NEW clients in order to win money.

2) The agent then takes that 50%, gives you back 45% of it and keeps 5% (for example). He does it to encourage NEW clients to sign up through him and not another agent (so he can win money).

It's a marketing scheme, not a charity if you see what I mean. That's why you can't go back and get the rebates once already a client.
  • #1,920
  • Jul 25, 2012 7:50am Jul 25, 2012 7:50am
what are you guys talking about. commisions come out through your spread. the higher the commision the larger the spread. the spread being the price.
the trouble is with rebates you have a 3rd party involved and thats when things can stuff up. most big traders dont use rebate programs.
read dukas front page where it talks about other broker programs. it says that other broker can charge extra and above dukas commissions, i think it does anyway.
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