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Dukascopy vs FXOpen ECN

  • #21
  • Oct 8, 2012 11:11am Oct 8, 2012 11:11am
Quoting FXOjafar
FXOpen gets demo prices from prices offered by several liquidity providers aggregated with the orders of other demo traders.
Stop drinking Jafar. If i follow your comments each of us can open a demo account, put some fanciful orders (delirious demand/offer) and create spikes as we wish. Your reputation needs strongly to be regild.
Your joke made my day.
  • #22
  • Oct 8, 2012 5:09pm Oct 8, 2012 5:09pm
Quoting jeuro
... what is that suppose to mean??????
So, your demo gets the prices from "different" Liquidity providers then your real accounts Liquidity Providers???

What in the heck "Aggregated with the orders of other demo traders" means ?????.. does it mean that demo prices change according to orders from "demo" traders????.
It's a demo ECN market. Did you read the link I gave you? It will answer all of your questions.

Quoting jeuro
How The ECN (Electronic Communications Network) operates is irrelevant.
The only things that matters is from where FXopen get the prices and what Quote to their clients and what prices feed the demos.
Actually it is very relevant to an ECN broker how an ECN works. The demo is supposed to reflect the way that the live platform gives you the opportunity to be a full market participant offering prices to others rather than simply taking them from a price "feed".

Quoting jeuro
Of course it does... I do trade with Dukascopy Bank.
And Because I have too much to lose I would never trade with an Australian Broker with more then a few thousands that I can afford to lose 100%.


If Dukascopy suits you, I am happy for you. There are others that like FXOpen and choose us instead. You are most welcome to try us one day if you change your mind or if Dukascopy no longer meets your needs.

Quoting jeuro
If a forex Brokers go Bust or Bk in Australia, there is no recourse of getting deposits backs... maybe 20, 30 cent per each dollar but never 100% after Regulators stop the Broker from operating. [/color]

RMs and Directors of Australian brokers have clear guidelines on how to operate and there is a personal responsibility on them to report breaches of license conditions or the law to ASIC. The lines drawn by ASIC are meant to stop the broker from operating once those lines are crossed which gives considerable margin for error meaning a broker...
Feel free to bomb our demo servers with crazy orders. You will see how good our technology is
  • #23
  • Oct 9, 2012 2:40am Oct 9, 2012 2:40am
Quoting FXOjafar

If Dukascopy suits you, I am happy for you. There are others that like FXOpen and choose us instead. You are most welcome to try us one day if you change your mind or if Dukascopy no longer meets your needs.



Feel free to bomb our demo servers with crazy orders. You will see how good our technology is
Sure... if one day "Clients" from Forex Brokers in Australia are "compensated"
by a Compensation Funds like in Switzland, UK and the EU..in case of Broker failure.... then and only then I would consider an Australian Broker.

I think I made my point to the original question of the post and why.
Now anyone can make their own decision.
J.
  • #24
  • Oct 9, 2012 5:58pm Oct 9, 2012 5:58pm
Hello I opened an ECN account with Fxopen (my first ECN account ever) this week.
How different is real ECN from your demo ECN? And what should I avoid doing on real ECN that I maybe did on demo to not get into trouble(any advice?)
  • #25
  • Oct 10, 2012 1:32am Oct 10, 2012 1:32am
Quoting LongForDeep
Hello I opened an ECN account with Fxopen (my first ECN account ever) this week.
How different is real ECN from your demo ECN? And what should I avoid doing on real ECN that I maybe did on demo to not get into trouble(any advice?)
Hi LongForDeep.

Demo and live are similar except for the unlimited liquidity in the demo account. This means your fills are more or less guaranteed in demo. Regardless, you shouldn't need to change your trading style on a live account if you are happy with your demo trading.
  • #26
  • Last Post: Edited 9:01am Apr 11, 2013 3:02am | Edited 9:01am
Please follow the link- quite interesting info about resolved cases: http://www.forexpeacearmy.com/forex-...tml#post118091
Also a few words about true ECN/STP:
ECN is an electronic communication network, where individual traders and banks (major brokerages) interact between themselves, where the banks place orders of traders from their system.
In the heart of any ECN lies an order matching system. It automatically executes the opposite (buy and sell) orders upon meeting of some parameters (financial instrument, price, quantity).
Presently, there are almost none “pure” ECN at the retail Forex Market. Instead the ECN/STP scheme exists: the traders’ orders placed with a broker interact between themselves (ECN) or the STP mechanism is used. If there is no counterparty (opposite counter order) for the order in the internal ECN, but there is a satisfying one from the external (from Liquidity Provider) – your request is sent to the external LP via STP mechanism.

The simplest test of ECN (ECN/STP):
·
Setting a Limit Order inside of the DAB* (Difference between the best BID and the best Offer (ASK)). It changes and keeps the BestPrice (the BestPrice doesn’t improve), until the Limit Order is executed or until one more Limit Order with a better price appears;
For example: while using ECN, you can easily play with the DAB. You can create a tight DAB for any non-liquid financial instrument. For instance, if the average DAB equals 70 points, you can decrease it to 10 points – all you have to do is to hold your Limit Order at 10 points from the opposite price. You can restrict the BestPrice and you can reduce the DAB. Take into account, that you are able to do it without the execution of your orders – just catch the time to move your Limit Order.
·

Setting two opposite Limit Orders with the same price inside the DAB provides instant execution for the two orders – “you buy it from yourself”. It is necessary to take into account such parameters as volume of your order, execution speed and order’s queue.
If the aforementioned conditions are met, you deal with ECN (ECN/STP). If not, it is not the true ECN. So FXOpen it's appropriate broker. Check it in Ducas, please.


Another important point for the trader’s consideration:
On the Market Maker model the client Buy Limit order is executed at PriceAsk, Sell Limit at PriceBid.
Some ECN / STP brokers provide the market nature of the execution of Limit orders (example FXOpen). Buy Limit order goes to the Level II to BID, Sell Limit to ASK.
· Sell ​​Market Order is executed against opposite Buy Limit.
· Buy Market Order is executed against opposite Sell Limit.
Consequently, there may be cases of execution of Buy Limit orders at PriceBid, Sell Limit at PriceAsk, which is a big advantage for trader. It increases the expected value of execution of Limit orders and effectively provides the profit for trader.
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