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Dukascopy

  • #2,181
  • Mar 1, 2013 1:54pm Mar 1, 2013 1:54pm
Quoting the si
has anybody had any problems with money withdrawals at dukascopy?
because some brokers tend to keep the traders money.
No idea but Duka does charge you $20 every time when you want to withdraw money from them.
Make your losses in demo. Earn your profits live.
  • #2,182
  • Mar 1, 2013 2:01pm Mar 1, 2013 2:01pm
Quoting the si
has anybody had any problems with money withdrawals at dukascopy?
because some brokers tend to keep the traders money.
never had a problem withdrawing money from Dukas
and i'm with them since 2011
  • #2,183
  • Mar 3, 2013 4:09am Mar 3, 2013 4:09am
Quoting Forexia
No, no not a wag. A skeptic? Maybe but overall just trying to be a cautious trader. Got burned too many times in the past. And guess by who??? Yup, you guessed it!!! FXCM!!! So, no, not looking for a local broker atm.

Am demo'ing with dukas and thought dukas is different, being an ECN and all but after reading some of the comments here, I am starting to be cautious again.

Thanks for your input thou.
My acount with them has been open for about a year now and traded most every day,
I am very satisfied with trading with them so far,
I have seen no fishy things at all and no errors,
so Im happy I finally got a good broker after testing so many MT4 bucketshops in the past,
the executions and fills are lightning fast, something I never seen anywhere else exept on currenex.
I think Dukas is one of the best choise for a forex broker
Bulls are stupid Animals!especially when Im short!
  • #2,184
  • Mar 3, 2013 4:27am Mar 3, 2013 4:27am
I heard Dukas` withdraw take a long long time.

Quoting roughtrader
My acount with them has been open for about a year now and traded most every day,
I am very satisfied with trading with them so far,
I have seen no fishy things at all and no errors,
so Im happy I finally got a good broker after testing so many MT4 bucketshops in the past,
the executions and fills are lightning fast, something I never seen anywhere else exept on currenex.
I think Dukas is one of the best choise for a forex broker
  • #2,185
  • Mar 3, 2013 11:03am Mar 3, 2013 11:03am
Quoting entheos
I heard Dukas` withdraw take a long long time.
And they charge you $20 each time when you withdraw YOUR OWN MONEY.
Make your losses in demo. Earn your profits live.
  • #2,186
  • Mar 3, 2013 11:24am Mar 3, 2013 11:24am
Quoting roughtrader
My acount with them has been open for about a year now and traded most every day,
I am very satisfied with trading with them so far,
I have seen no fishy things at all and no errors,
so Im happy I finally got a good broker after testing so many MT4 bucketshops in the past,
the executions and fills are lightning fast, something I never seen anywhere else exept on currenex.
I think Dukas is one of the best choise for a forex broker
So you have never had your orders rejected and unreasonable slippages and delayed executions from them?
Make your losses in demo. Earn your profits live.
  • #2,187
  • Mar 3, 2013 12:02pm Mar 3, 2013 12:02pm
Quoting Forexia
And they charge you $20 each time when you withdraw YOUR OWN MONEY.
It's to cover the wire cost. While it would be nice if they offered alternative methods that are less costly, what they charge for wiring funds isn't out of line.. I've seen more expensive charges for wires from other brokers and definitely from banks.
FXGears.com
  • #2,188
  • Edited Mar 4, 2013 3:11am Mar 3, 2013 10:17pm | Edited Mar 4, 2013 3:11am
Quoting Jack_Larkin
It's to cover the wire cost. While it would be nice if they offered alternative methods that are less costly, what they charge for wiring funds isn't out of line.. I've seen more expensive charges for wires from other brokers and definitely from banks.
Yes but large majority of brokers out there including ECN's offer free withdrawls or offer withdrawls by EFT or ACH which I presume is a cheaper method. Why does Dukascopy, a decent size ECN broker never thought of offering this method?
Make your losses in demo. Earn your profits live.
  • #2,189
  • Mar 3, 2013 10:25pm Mar 3, 2013 10:25pm
Quoting Forexia
Yes but large majority of brokers out there including ECN's offer free withdrawls or offer withdrawls by EFT or ACH which I presume is a cheaper method. Why does Dukascopy, a decent size ECN broker never thought of offer this method?
I don't know any brokers that provide free wires with the exception of some that offer such fees waved if you turn an insane amount of volume with them (and thus, have already covered the cost many times over through the profit you've brought the broker.)

They offer wires for withdrawal, that's the option you have, yes it would be nice if others were available but no one is holding a gun to your head to use them and they aren't hiding these withdrawal fees from the public. It's clearly stated on their site and everyone can review them before they sign up.

I'm not sure what your problem is with Dukas, but why don't you start making constructive posts about solving them instead of trying to nit pick the little details?

(Seriously, your last few posts have been kinda telling. I'd rather something positive come out of this. Maybe you should write them a letter with your concerns and see if they respond. Else, move on, no one is forcing you to use them.)
FXGears.com
  • #2,190
  • Mar 4, 2013 2:26am Mar 4, 2013 2:26am
Quoting entheos
I heard Dukas` withdraw take a long long time.
I would say that 36 hours from submitting a withdrawal request to noticing money in my account pretty quick.
That is effectively one business day, and whilst it was not a life changing amount of money it was more than the required minimum retail account ante.

I am starting to think like Jack_Larkin, most of you guys would be better off with a $100 account funded by credit card....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #2,191
  • Mar 4, 2013 3:25am Mar 4, 2013 3:25am
Quoting Jack_Larkin
They offer wires for withdrawal, that's the option you have, yes it would be nice if others were available but no one is holding a gun to your head to use them and they aren't hiding these withdrawal fees from the public. It's clearly stated on their site and everyone can review them before they sign up.
Quote
I'm not sure what your problem is with Dukas, but why don't you start making constructive posts about solving them instead of trying to nit pick the little details?

(Seriously, your last few posts have been kinda telling. I'd rather something positive come out of this. Maybe you should write them a letter with your concerns and see if they respond. Else, move on, no one is forcing you to use them.)

Well I apologize if I upset you with my posts. Like I stated before I am currently demo'ing with Dukascopy and I like to discuss some of the things that I have noticed about them and I like to hear what people say about them especially from the ones who have or had real trading experience with them.

If you have something constructive to offer on this topic, I would love to hear from you but I don't think it's right for you to accuse any traders who raise some concerns and questions about a broker as "having problems" with that particular broker. After all we traders who are their potential or existing clients have every right to question a broker's practice. And fellow traders should usually appreciate this UNLESS they feel they need to be protective of that broker for some "interesting" reason(s)?

But if you just happen to not like my posts in particular for whatever reason(s), then feel free to Ignore me. I will be FAR from being offended. Good trading to you (if you are a trader)!!!
Make your losses in demo. Earn your profits live.
  • #2,192
  • Mar 4, 2013 3:33am Mar 4, 2013 3:33am
Quoting Exodus
I would say that 36 hours from submitting a withdrawal request to noticing money in my account pretty quick.
That is effectively one business day, and whilst it was not a life changing amount of money it was more than the required minimum retail account ante.

I am starting to think like Jack_Larkin, most of you guys would be better off with a $100 account funded by credit card....
Well if we can only afford a $100 account funded by credit card. It concerns us even more that every time when we need to get our own money out, we have to shell out $20 but at least if they are quick...

Yes, yes, yes, nobody's forcing us to go with dukas and if we don't like it, we can go somewhere else... We have been warned *runs away hiding*
Make your losses in demo. Earn your profits live.
  • #2,193
  • Mar 4, 2013 5:49am Mar 4, 2013 5:49am
there is an option of funding the account with $100 by credit card.
at dukascopy europe.
anyone here with experience with duka eu?
  • #2,194
  • Mar 4, 2013 7:41am Mar 4, 2013 7:41am
Quoting Forexia
So you have never had your orders rejected and unreasonable slippages and delayed executions from them?
my acount is at Dukas EU, it is the same servers as the swiss acounts use, so the trading enviroment really is no different between EU and swiss at all, slippage occurs in the market normally and is not broker created even tho some shady brokers have been known to encrease it, with Dukascopy you can set a limit on the amount of slippage you allow, for example, you can set 0 slipage allowed in the Jforex software, then what will happen is that they try to fill your orders at 0 slippage, sometimes it work and sometimes it don't, the reason for it would not work is because the market moves very fast sometimes, specially during London and NY open so if the price moves just a tiny 0.1 pip from your max allowed slippage at 0, your order will be rejected, this is normal at ecns where the spread is constantly moving, slippage ocurs when the market moves so fast they or their whatever computer they use, cant fill you in time, I usually have maximum 1 pip allowed in the client, and that works fine every time, that doesnt mean you will get slippage 1 pip every time, I use mostly market orders in my trading , it is very important for me to get in and out of the market immediatly, so for me its good to leave some slack, if you use limit orders Im sure you can bring the slippage down even further. and no , touch on wood, I have never experience any delay in execution or fills.
Bulls are stupid Animals!especially when Im short!
  • #2,195
  • Mar 4, 2013 8:08am Mar 4, 2013 8:08am
Quoting roughtrader
my acount is at Dukas EU, it is the same servers as the swiss acounts use, so the trading enviroment really is no different between EU and swiss at all, slippage occurs in the market normally and is not broker created even tho some shady brokers have been known to encrease it, with Dukascopy you can set a limit on the amount of slippage you allow, for example, you can set 0 slipage allowed in the Jforex software, then what will happen is that they try to fill your orders at 0 slippage, sometimes it work and sometimes it don't, the reason for it...
I see. sounds ok.
and the withdraws? still everything ok?
and how much time does it take for the money to reach your personal account?
  • #2,196
  • Mar 4, 2013 8:37am Mar 4, 2013 8:37am
Quoting Forexia
Well I apologize if I upset you with my posts. Like I stated before I am currently demo'ing with Dukascopy and I like to discuss some of the things that I have noticed about them and I like to hear what people say about them especially from the ones who have or had real trading experience with them.
It just sounds overly negative, and I'm not sure what your angle is writing like that. That's all really, I wasn't upset by it, just pointing it out.

I'm all for talking about brokers, but I enjoy constructive dialogue where people learn and help each other. Trying to paint things as a critical issue as if the broker was doing it purposefully/maliciously against traders doesn't serve to help others much outside of spreading fear for no reason.

Quoting Forexia
If you have something constructive to offer on this topic, I would love to hear from you [...]
I traded with Dukas for a while. Good shop overall, and I never had trouble getting money out via withdrawals. I can't really comment on execution since I traded with them a few years ago and I heard they've since changed/improved a lot of their services, so my comments would be dated.

Quoting Forexia
but I don't think it's right for you to accuse any traders who raise some concerns and questions about a broker as "having problems" with that particular broker. After all we traders who are their potential or existing clients have every right to question a broker's practice. And fellow traders should usually appreciate this UNLESS they feel they need to be protective of that broker for some "interesting" reason(s)?

But if you just happen to not like my posts in particular for whatever reason(s), then feel free to Ignore me. I will be...
So, if someone disagrees with you and brings up how your posts are worded, they have "interesting reasons"... and if I don't like your posts then I should ignore you?

Such thorns you have. Why so quick to burn bridges?

I made an observation, your posts had a theme to them, I pointed it out. I'm not doing so to attack you, but to make you aware of how they appear. Others have responded to you lately trying to be helpful as well, they lost interest quickly since your tone was so negative even after they tried to be helpful (notice how they weren't so quick to keep responding to you?) So I stepped up. That's all.

It wasn't "any trader" who raises concerns, it was specifically the tone of your posts I was addressing.

Traders need to learn how to deal with things that are critical of themselves, and learn from them, else how in the heck can they ever deal with a losing trade when the market didn't prove them "right"? Accusing it of things won't make the loss go away.

Take a moment to think on that. Hopefully you won't let your ego make you feel backed into a corner and you'll see I'm just trying to be of assistance.

Now if you'd please, can we focus on talking about the broker at hand?
FXGears.com
  • #2,197
  • Mar 4, 2013 8:39am Mar 4, 2013 8:39am
Quoting Forexia
Well if we can only afford a $100 account funded by credit card. It concerns us even more that every time when we need to get our own money out, we have to shell out $20 but at least if they are quick...

Yes, yes, yes, nobody's forcing us to go with dukas and if we don't like it, we can go somewhere else... We have been warned *runs away hiding*
You do raise a good point here; Back when I used Dukas the minimum wasn't just $100 (It was like $5k), but now that it is just $100, then only having a wire method of withdrawal is costly in relation to account size.

They'd be best to add other options for withdrawal that would make sense for smaller transaction sizes.
FXGears.com
  • #2,198
  • Mar 4, 2013 10:13am Mar 4, 2013 10:13am
Quoting Jack_Larkin
You do raise a good point here; Back when I used Dukas the minimum wasn't just $100 (It was like $5k), but now that it is just $100, then only having a wire method of withdrawal is costly in relation to account size.

They'd be best to add other options for withdrawal that would make sense for smaller transaction sizes.
Glad you can see my concern. And thank you for your feedback. I really appreciate it and also the others who have all generously shared their Dukascopy trading experience here.
Make your losses in demo. Earn your profits live.
  • #2,199
  • Mar 4, 2013 10:55am Mar 4, 2013 10:55am
Hi everyone,

i started not using slippage control on Stop and Limit orders, so as to ensure getting filled (Dukascopy Suisse). So have my trading friends, in our pursuit to understand if Dukas is a reliable venue.

The result, on my account, has been a slippage that has varied between 2.10 pips to 4.12 pips on both London and New York sessions (the most volatile time was 30 minutes before London close) on EU, EJ and Cable.

I don't trade market orders. It doesn't fit into my trading plan. So all those who say slippage is not a problem but trade w/ market orders please refrain from bashing.

Now, i'm again disappointed at Dukas. This slipagge is just not tolerable.

For those using Stop/Limit orders what experience have you had w/ the slippage?

thx
  • #2,200
  • Mar 4, 2013 12:23pm Mar 4, 2013 12:23pm
Slippage is a normal part of trading. If you trade during high volatility then a few pips here and there is normal. I would start worrying if there is only negative slippage and no positive slippage.
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