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Does anyone have any experience with Dukascopy?

  • #41
  • Jun 9, 2014 10:46am Jun 9, 2014 10:46am
Also interesting: Dukascopy generates very few ticks, only about half compared to e.g. Armada. And Armada generates about 30% (or more) fewer ticks than LMAX..
Return To Disorder
  • #42
  • Jun 9, 2014 3:58pm Jun 9, 2014 3:58pm
Quoting PoundTrader
{quote}lol why are you demoing dukascopy europe when you have account live account with dukascopy there swiss office, what are you looking for
Dukascopy stoped a partnership with one of their Introducing Agents, the one that have been using. The only possibility for me to get rebates on commissions is to switch to Dukascopy europe.
  • #43
  • Jun 9, 2014 5:21pm Jun 9, 2014 5:21pm
Quoting rockit
Also interesting: Dukascopy generates very few ticks, only about half compared to e.g. Armada. And Armada generates about 30% (or more) fewer ticks than LMAX..
Interesting. Here are the tick counts for my live FXCM and Dukascopy feeds for a low and for a high volatility day from last week:
Inserted Code
FXCM 2014-06-03
===============
EURUSD     23,267
GBPJPY     33,207
USDJPY     22,181
XAUUSD     18,000
 
FXCM 2014-06-05
===============
EURUSD     40,728
GBPJPY     46,716
USDJPY     32,345
XAUUSD     23,610
 
Dukascopy 2014-06-03
====================
EURUSD     47,781
GBPJPY     72,975
USDJPY     38,483
XAUUSD     52,566
 
Dukascopy 2014-06-05
====================
EURUSD     75,672
GBPJPY     94,587
USDJPY     53,806
XAUUSD     68,953

The FXCM feed is pull, versus the Dukascopy feed which is push. This might explain the lower tick count, since I'm not using proximity hosting yet.

Are your Dukascopy tick counts similar to mine?
  • #44
  • Jun 10, 2014 2:44am Jun 10, 2014 2:44am
Quoting rockit
Also interesting: Dukascopy generates very few ticks, only about half compared to e.g. Armada. And Armada generates about 30% (or more) fewer ticks than LMAX..
Why do you think this is happening?
I thought 1 tick = 1 trade. ?
Does Dukascopy have fewer accounts than LMAX ?
  • #45
  • Jul 8, 2014 10:27pm Jul 8, 2014 10:27pm
Quoting Mevo
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...
So when trading with Dukascopy what platform are you using?
  • #46
  • Jul 20, 2014 2:33pm Jul 20, 2014 2:33pm
Hi Yall,

I have a Dukascopy account since 2010. I traded approx. 50-80m per month and analyzed Dukascopy in detail
before closing it last year.
I can not recommend opening an account with Dukascopy. Even though they are regulated it is one of the worst brokers I have
tried so far (and I have tried many).

1) Their support is a nightmare. They just don't have people that know FX. They are only working with students and young professionals.
I was shocked by the low level of professionalism. The call center seems to be somewhere in Russia... so they don't understand you.
The account opening takes 3 months for professionals. If you want to get removed from the Newsletter? Forget. They will continue to
spam you forever.
2) Spreads and specially overnight costs are not attractive.
3) The volume fee is high and the opening and closing of a position counts double.
4) Jforex platform on MAC is very unstable.

So regulated yes, bank status yes - rest is unacceptable.
  • #47
  • Jul 20, 2014 10:28pm Jul 20, 2014 10:28pm
I have account with dukascopy for 2 years and am doing fine. people who said they have high commission you should check FXPRO and see the insane 65$ commission compared to 10$-35$ with dukascopy.

I did had some bad experience with price slippage during news and I know this is bad but what to do !

for people who is saying dukascopy is bad I would like you to give me a name of the better broker so I can move my money to it

thanks alot
  • #48
  • Jul 21, 2014 6:29am Jul 21, 2014 6:29am
Quoting msniper
for people who is saying dukascopy is bad I would like you to give me a name of the better broker so I can move my money to it
here you go: LMAX
I'm not insane; my mother had me tested.
  • #49
  • Jul 21, 2014 7:09am Jul 21, 2014 7:09am
Quoting kwickwool
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....

Are you stupid?

You can't be a Market-Maker in Switzerland if you're saying that you're an ECN. FINMA dosn't allow this kind of practice, Dukascopy is a regulated bank. You're talking about a spread of 1.5 pips...It means that you're a small trader.

When your deposit > or = 10K, the smallest spread is about 1 pips en E/U automatically.

If there is a slippage? Yes like every broker when there is poor volume.

Dukascopy is a true ECN, it couldn't be otherwise in Switzerland due to the regulation. There are only 3 regulated brokers by the FINMA : Dukascopy, Swissquote, MIGBank (bought by Swissquote).

Quote
here you go: LMAX

Yes, Yes, GO to LMAX::: A broker who isn't profitable yet
  • #50
  • Jul 21, 2014 7:14am Jul 21, 2014 7:14am
Quote
1) Their support is a nightmare. They just don't have people that know FX. They are only working with students and young professionals.
I was shocked by the low level of professionalism. The call center seems to be somewhere in Russia... so they don't understand you.
The account opening takes 3 months for professionals. If you want to get removed from the Newsletter? Forget. They will continue to
spam you forever.
2) Spreads and specially overnight costs are not attractive.
3) The volume...
​



1) Support is in Switzerland
2) Spreads are one of the most attractive
3) No y're wrong. Volume fee dosn't count double but triple
4) Maybe, never tried.


Do you want to trade with a good broker? Go to Dukascopy.

Do you want to trade with the best broker? Go to Interactive B.

Simple
  • #51
  • Jul 21, 2014 7:23am Jul 21, 2014 7:23am
Dukascopy Eu has offices & support in Latvia (former USSR). They are a small part of Dukascopy Switzerland not regulated in Switzerland and are more oriented towards retail traders. Dukascopy Switzerland needs a higher starting capital too and may offer better trading experience.

I am with Dukascopy EU for 1 year now and have no issues btw. Support is good when it was needed, spreads are ok (can find better elsewhere though), deposits are almost instant (with CC), withdrawals take 3-4 days within EU, have not noticed any vicious spikes, slippage is 90% negative Can't say if they are true ECN and if their order book is true, but I like them for something other than MT4 brokers. You will need a pc with enough horsepower if you want Jforex open with more than 6-7 charts and various indis on.
  • #52
  • Jul 21, 2014 7:35am Jul 21, 2014 7:35am
From the Dukas client agreement, printed in fat letters:

Quote
The prices quoted on the platform and displayed on the chart do not necessarily mean that they are executable prices.

Some ECN..
  • #53
  • Jul 30, 2014 2:51am Jul 30, 2014 2:51am
1) Dukascopy is claiming to be a ECN, which I doubt. I am sure there is matching and B-Booking.
2) The execution quality of Dukas is just bad and when you are profitable the rejection rates skyrocket.
3) Overnight rolling costs are bad as many underlyings are negative to both sides where my other brokers have positive carry on one side.
4) I don't like the additional volume commission on top of the spreads, which significantly increase transaction cost.
5) Slippages at Dukas are at best average but honestly with my other brokers I don't see this aggressive type of B-Book fishing.
6) In my opinion they are spiking the vols and or tilting the feeds to fish orders.
7) Their support is way below average and they just ignore the fact that you do not want to receive their advertising emails.
8) The quality of the employees is very low. They are mostly working with students and young professionals that hardly have any FX experience.
9) Jforex on Mac is absolutely not stable. It's stable on W7 though.
10) The weekend margins are just a joke. My other brokers don't have weekend margins and I lost quite some money with those ridiculous margins.

> Regulated and ECN doesn't mean anything. The regulator does not investigate pricing tricks (e.g. VDP style) as long as nobody claims and sues.
> If so, please explain how regulated entities can still B-Book positions???

= In my opinion this is a broker for kids and newbies but not for professionals & most of all I just don't like this broker, because I have the feeling their pricing and execution is hostile. I have better brokers with better rolling costs, less aggressive spiking, less rejections and no weekend margins. So newbies and amateurs,
go to Dukas.
  • #54
  • Aug 13, 2014 3:04pm Aug 13, 2014 3:04pm
@ fxways

BS ... & stop whining
  • #55
  • Aug 14, 2014 10:51am Aug 14, 2014 10:51am
Hi Siya,

very qualified answer. Thank you. Your valuable input helps everyone in the community.
Please feel free to comment on the points where I am wrong. I am looking forward to
seeing what you got.
  • #56
  • Aug 14, 2014 11:54am Aug 14, 2014 11:54am
Quoting fxways
1) Dukascopy is claiming to be a ECN, which I doubt. I am sure there is matching and B-Booking.
They probably indeed have a B-Book for low trading amounts (under 0.1 million).

Quote
2) The execution quality of Dukas is just bad and when you are profitable the rejection rates skyrocket.
I had only one problem with a gambling account, maximum leverage, small deposit. When news came out, it was such a high number compared with expectations that by the time the order instructions were sent to the server (the platform froze) I was already stopped-out. But every broker warns about news trading risks. Other than that, I had only one rejected profit take order when it touched my level for a second and spiked back immediately.

Quote
3) Overnight rolling costs are bad as many underlyings are negative to both sides where my other brokers have positive carry on one side.
Probably true. I never payed attention because I rarely hold a position overnight.

Quote
4) I don't like the additional volume commission on top of the spreads, which significantly increase transaction cost.
Yes, about that... The larger your deposit and/or equity are, the less the commission you have to pay. The minimum commission can be as low as 10$, but even with 50.000$ you still get almost half (18$) of they're maximum commission (35$). Also, if you compare the costs involved with other brokers (ECN or MM) you'll find they're about the same for low income clients. For average or high net worth individuals the costs are pretty good.

Quote
5) Slippages at Dukas are at best average but honestly with my other brokers I don't see this aggressive type of B-Book fishing.
I did incurred slippage more frequently when my orders were below 100K. Never on limit orders . Sometimes positive, most of the time negative.

Quote
6) In my opinion they are spiking the vols and or tilting the feeds to fish orders.
I don't know what you mean.

Quote
7) Their support is way below average and they just ignore the fact that you do not want to receive their advertising emails.
I always got my problems fixed, but sometimes it took a lot of time with no explanation. My account manager always got in touch with me. I can't blame him for what's beyond his control.

Quote
8) The quality of the employees is very low. They are mostly working with students and young professionals that hardly have any FX experience.
It depends which department you have in mind. There are essential positions in a company where you can't involve poorly prepared employees. If you're talking about support, it's the same at most of the companies. They don't have any decision power anyway. The tech department is more competent.

Quote
9) Jforex on Mac is absolutely not stable. It's stable on W7 though.
Can't comment on that.

Quote
10) The weekend margins are just a joke. My other brokers don't have weekend margins and I lost quite some money with those ridiculous margins.
That's a way of protecting yourself and, more important, a way to protect themselves from possible losses generated by gaps over the weekend, as it's quite difficult to recover those loses especially from clients abroad. Also, a 100:1 leverage doesn't imply that you must use all of it. But, of course, it's your call.

Quote
I have the feeling their pricing and execution is hostile.
You know, sometimes I have that feeling, too. I don't know if I watched to many MT4 brokers charts but Dukascopy's price feed feels... odd. They probably don't filter ticks as much as other or.. dunno.
  • #57
  • Aug 29, 2014 10:29am Aug 29, 2014 10:29am
I really hate Dukas. They just fished a EURPLN stop away with a 270 pip spread!!!!!!!!!!!!!!!!
When does the swiss Finma wake up and shut Dukascopy down? It's fraud all the way.

BTW - my deposit at Dukas was much higher than you mentioned.
  • #58
  • Edited 1:19pm Aug 31, 2014 1:02pm | Edited 1:19pm
Hi shahidfx ! I have been with Dukascopy EU, (live account) since they started a coupple of years ago,
they are the best broker I have used, spreads are the lowest, execution very fast,
I am very satisfied with them so far, they have been improving a lot since they started and they keep getting better,
right now I can say there is no better. I have never seen any fishy buisness from their side,
and I have been scalping EURUSD allmost every single day. I am surpriced to hear so much negativity,
I am pron to believe that simply comes from ignorance, no offence, we all been there,
but why would anyone trade exotic pairs like EURPLN? yes the spread is huge on those pairs,
and it's normal they would change very rapidly as soon a trade is made,
because there is allmost no one trading it, price react quickly and sometimes spikes.
this is all normal, stay with the major pairs and you will be ok. EURUSD during London hours is as low as 0.1 pip
Bulls are stupid Animals!especially when Im short!
  • #59
  • Sep 1, 2014 4:23am Sep 1, 2014 4:23am
Quoting fxways
I really hate Dukas. They just fished a EURPLN stop away with a 270 pip spread!!!!!!!!!!!!!!!! When does the swiss Finma wake up and shut Dukascopy down? It's fraud all the way. BTW - my deposit at Dukas was much higher than you mentioned.
Please, may you be kind enought to share with us, the brocker you are using ?
  • #60
  • Oct 8, 2014 11:46am Oct 8, 2014 11:46am
I agree with you. I constantly get slippage from them, and never once positive.
I need to mention that I am a scalper, so it does make a huge difference. Zero slippage control basically doesn't execute the order
Also, the rebates from the IB are actually coming from Dukas, so I don't understand why isn't Dukas giving the 40% volume discount to all clients regardless if they were introduced by an IB or not.
In fact most of their clients look for IB, and not IB's looking for client....so they're obviously not rewarding the right clients

Dukascopy ECN ? You have to be kidding - they're just a market maker like all the others, just that under the umbrella of the Swiss so called trustability and banking secrecy, the owner (who is Russian by the way, and all the top management as well) has realized that it is easier to catch flies with honey - so they've not employed the stupid techniques that most of the MT4 brokers did (just some)

Jforex is a joke of a platform, always buggy really slow and impossible to scalp with (stop & reverse, merge orders if hey have SL/tp ...I could go on and on...)
You need to build your own custom trading tools.

Customer service - slow, useless and impersonal
I dread the moment when and if I need to call them to close orders in case my internet machine goes crazy....

I am looking for another broker, even if I pay more per mil at least I know my order is placed on the real market, not on a bucket at the brokers dealing desk trying to match my order internally, manipulating the spread & volume to benefit from the trading cost & the spread (all intra trading system fabricated)



Quoting kwickwool
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……......
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