Does anyone have any experience with Dukascopy?

Smartfx (and others like him) are only Business Introducer for Dukascopy, they are not whitelaber brokers like Atom8.
It means they only offer commission rebate if you register to Dukas via their referral link.
There are hundreds of Business Introducer for Dukascopy in the world, and and all of them offer the same rebate of 40%, so it is indifferent to which of them you register, you have just to enter any of their referral code when you register with Dukascopy to obtain the rebate.
Some of them also offer an additional service if you register with them, such as give you free license of their software / indicators / experts...

What platform are you using with Lmax? web, multicharts or mt4. If you are using mt4 who is that through or how does it work as is it not through a 3rd party?
Thanks

Mitch77: web and multicharts. I have never used mt4 - but they used to use the PrimeXM bridge, but have apparently now made a solution of their own.

Shrike: Correct, execution seems better with their own MT4 compared to the PrimeXM solution, but MultiCharts is far better (I used it when it was provided for free). And with Mt4, you loose the ability to provide liquidity, your order is kept on MT4 server until it is directly executable. And I checked with the infos you sent me in private, swaps are even higher with MT4.

all forgot to mention dukascopy have no mt4 platform, that's a big problem for many. its java forex platform not easy to use. clients want to trade not learn how to adapt to a platform!

any feedback of dukascopy binary options? its web platform on binary options better than its forex java platform. Will test it and consider it in my options book.

Dukascopy's account opening is quite complicated compare to other brokers.

Did you go with their European branch (Dukascopy Europe) ? Should be easier there !

Have used them and terrible for slippage. Trouble you have with them, if they were a true ECN and we happy with just a commission based business model they would tighten up on it but obviously they make money from the slippage. Have actually performed a statistical analysis of the slippage, always negative on stops and never positive on take profit orders so says it all. Can be 2-3 pips sometimes with minimal market movement. Lost confidence with them so left.

If you got the cash and are good enough as a trader you don't really need to use them……...

ps even think their order book is non-existent…..

No it's all same.

Why Dukascopy?

First of all they are best broker in execution of trades. Of course they have a slippage on news, it is normal. But if you see that your order is executed with very big slippage without any reason, address it to support. 99% ! you will be refunded.

Second SPREADS !!!! Look on web page, you will be surprised.

FEED, from me, this is the best feed ever i have seen.

But! All upper works if you have your own manual strategy! Unfortunately they use JAVA language. MQL experts will not work.
From other site you can use Visual Jforex, some kind of strategy builder. For me it is bull ...

In the end ...
Look on changes for the last year !!!!

Show me company who ...

1 - Launch completely new product on LIVE, Binary options.
2 - Launch DDS4 spectacular new platform.
3 - Apply: affiliated program, bonus from deposit.
4 - Probably will launch CFD

All this in 1 year !

Maybe i wrong, but if company grows. Opens new capabilities, always answer on mail and help you if needed.
And you make money !!!!!

Why not ? Thanks.

mmmm..........why not? Let me see if i can answer that one.

The positives some you mention, i also think that JForex is the best platform out there but there are major reasons why i do not trade with them anymore......

Their pricing is not based on the 9-10 major financial institutions coming together to get you the best price, it is simply a price feed from somewhere although yes a very good one. You have no customers on the other end of your orders, you have Dukascopy. there you have the conflict of interest, they are a market maker simple as.

Their slippage is shocking and for one reason, to cost you money, they are not interested in just taking commission from you they also are as mentioned on the other end of your trade so if you win constantly they lose, simples. yes they hedge their order book etc but still, you win constantly they lose.

I left them with profit but roughly calcualated how much they cost me and was a lot after doing a statistical analysis of their platform. Always negative slippage never positive and that syas it all......

I have even seen the price, order book of say 5.5mill liquidity and still get filled a few pips below the actual market price, seen 2-3 pips slippages on normal market conditions and higher on volatility, is unworkable for me.

Yes they give rebates, yes they quote spread of 0.2pips for eurusd but it is almost an irrelevant stat, all that matters is the total turnaround costs and with Dukascopy work out so much higher as in maybe 1.5 pips per trade......

If i do 50 trades a day i dont want to spend my time shifting through all the trades, seeing if manipulation was occuring on each trade as used to find that every 10 or so trades would see ridiculous slippage, i want to trade and trust my broker, dukascopy I cannot.

Why not? Fairly simple really.........They are a market maker and will always have a conflict of interest with your winnings, always.....

I'm sorry, but you are 100% right, it says it all: you're an idiot.That's how a real market, not a market maker price manipulated, works.Take profits are limit orders, which are entered in the order book, so you can't have any slippage on it (positive or negative).Stop losses on the other side are stop orders, which are kept until the price is reached (they would be executed immediately otherwise) and transmitted AT MARKET when this price is reached, so you may get (usually negative) slippage in this case. As price IS moving againt you (your stop wouldn't be reached otherwise), slippage is because of the time beetween when orders gets triggered (your stop price) and when it is transmitted and executed (your final price).Please understand first how things works.... A lot of forex brokers (quite all) do not have any order book and execute limit orders as stop orders. They keep them until price is reached and transmit them then at market, reason why you may get slippage. As for limit orders, price is going in the way of getting better for what you want to do, so you should then get usually positive slippage (more often than negative one, why is often not the case)

With limit orders, you can have positive slippage in your favour. A limit order guarantees the limit price or better, although no execution certainity, obviously.

Humm, what you say is correct Shrike, you can get a better price than the limit price you fix. But I guess this can only happen when your order is marketable immediately (we are talking of a real market environment with an order book of course), meaning there is an order available with a better price WHEN you transmit your order (or more precisely when your order reaches the market). This cannot be referred as "slippage" in this case. At least, it's not my personnal definition of what slippage refers to.

I can't see a situation where your order is entered in the order book, because not marketable immediately, and waiting for someone to "take" it, and you could get a price different from the one you entered (positive or negative).

It can easily happen for non-marketable orders. For example, if price gaps through your order on a news release.

No, that's impossible. Market can't gap "through" your order, it has to hit it first. Or you don't have to deal with a real market with an order book. If what you're describing happens, your order wasn't in the order book but was held and transmitted at market. A gap mean there was no orders in the gap, but in your example, there is one: Yours ! You have to understand how order books work. In forex, people are so used to pure market makers and their orders only submitted as liquidity taking orders (always at market when marketable) that they have your reaction. But if you go with LMAX (which I guess you are used to) or Dukascopy, your limit orders work as liquidity providing, because they stay in the order book.

Now, as I am writing this, I realise that you can choose how you want your limit orders to be treated with Dukascopy if I'm not wrong. You can send them as liquidity providing, or as liquidity taking. So you may be indeed correct (and the guy I was a little mean with too) in the later scenario. But not with LMAX or the futures market, what you say would be strictly impossible (and with dukascopy too if you send your orders as liquidity providing)

If you place a really, really big limit order, you will just prevent the price from moving above (if you sell) or under (if you buy). But you will sell to every people wanting to buy at that price, or the reverse (until your order is completely executed). Think SNB at 1.20 on EUR/CHF for example, it's what they were doing. When we were close to 1.20, you were seeing their order in the order book at 1.20 on EBS and the futures market.

A maybe easier to understand example is the spread: if your limit orders are treated as liquidity providing orders, and entered in the order book (where there is one), your orders are reducing the spread when placed inside. Try it when spread increase during news on LMAX (does not work with MT4, which only works as liquidity taking) or Dukascopy (with the correct type or orders selected): you can reduce the spread as much as you want by placing limit orders inside it, and people placing market orders at that time will hit your orders. Market can't gap anymore, there are orders: Yours, as you're acting as liquidity provider. (If you just place one order, it will get hit, and probably gap after. But you could replace immediately new limit orders if you wanted to)

Anyone got any experience with Dukascopy Europe compared to regular Dukascopy? I have tried their demo (dukas europe) and I must say that I experience their demo platform as very unstable - some of my orders are not filled, random disconnects. While I have a "live" account with Dukascopy I do not experience these things there. That might be just a demo platform that bugs. So if someone got a "live" account there it would be interesting to hear their opinion.

lol why are you demoing dukascopy europe when you have account live account with dukascopy there swiss office, what are you looking for