Dukascopy gone rogue? | Forex Factory

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Dukascopy gone rogue?

  • #1
  • First Post: Nov 7, 2014 8:31am Nov 7, 2014 8:31am
Hello traders hope you all doing fine, I was trying to get in on the EURUSD spike with a market order today,
to my supprice I was not filled until several seconds afterwards I clicked the button.
with the message trading offline, the result was I got a much worse fill than expected,
it came out profitable but still not something I think is acceptable,
I find it very strange a broker who claims to be an ecn and a bank behaves in this way,
normally I do not trade in this volatile markets but this surely raised my eyebrows, Im seeing red flags here along with the new binary thing,
maybe Im just paranoid? or should I be concerned? I might add that Dukascopy have allways been good to me in the past,
and I have never experienced any problems with them.
what would be the reason a ecn blocking trading during volatile markets?
things have a tendency to change., the question is, what do you think?
Bulls are stupid Animals!especially when Im short!
  • #2
  • Nov 7, 2014 8:58am Nov 7, 2014 8:58am
Sounds like 'last look' in action.
  • #3
  • Nov 7, 2014 9:06am Nov 7, 2014 9:06am
maybe their severs problem? I Think it's fine, at least they are not adjust your trade like forex.com =))) all severs overload sometime, even google,facebook.... Have it too
  • #4
  • Nov 7, 2014 11:39am Nov 7, 2014 11:39am
This morning was the NFP and unemployment reports for both US and CAD. So it's quite possible they were just swamped with orders coming in, overwhelming their servers. Anyway, I never trade the NFP, too much like trying to catch falling daggers.
  • #5
  • Nov 7, 2014 11:53am Nov 7, 2014 11:53am
Quote
what would be the reason a ecn blocking trading during volatile markets?

Sure, Dukascopy which is a swiss bank regulated by the finma is afraid of your mini-lot trading. Srsly guys.
  • #6
  • Nov 7, 2014 2:41pm Nov 7, 2014 2:41pm
I'm personally trading only with couple of brokers: IC Markets, AXI Trader, Armada Markets. I don't trust the others.
  • #7
  • Nov 7, 2014 3:09pm Nov 7, 2014 3:09pm
Quoting Unabletrader
{quote} Sure, Dukascopy which is a swiss bank regulated by the finma is afraid of your mini-lot trading. Srsly guys.
I have been experiencing other brokers apparantly afraid of my micro lots at news release, so really, Im not surprised to anything when it comes to forex brokers.
they are capable to rip you off in any unthinkable way, trust me.
Bulls are stupid Animals!especially when Im short!
  • #8
  • Nov 7, 2014 3:12pm Nov 7, 2014 3:12pm
Quoting BobbyStar
I'm personally trading only with couple of brokers: IC Markets, AXI Trader, Armada Markets. I don't trust the others.
how long have you been with ic markets? experience so far?
Bulls are stupid Animals!especially when Im short!
  • #9
  • Nov 7, 2014 11:04pm Nov 7, 2014 11:04pm
i think you are missing the point. ECN means your orders are put to the market with no broker interference. If there is an order sitting on the other side (a sell to match your buy order for example) it will be filled at that time - from the time you click the button until it hits the market should only take milliseconds a. if there is no order waiting your order will sit waiting for a other side order or until you cancel. If the other side order is not the same size as your order you may also get a partial fill. Duks is not blocking your orders. Think about it - the prime prices are taken by the large players, retail traders with small lots only get the crumbs - ie: less than desirable fills.
  • #10
  • Nov 8, 2014 1:17am Nov 8, 2014 1:17am
Quoting BobbyStar
I'm personally trading only with couple of brokers: IC Markets, AXI Trader, Armada Markets. I don't trust the others.
you must be kidding right?
do you think they are better than Dukascopy?

@roughtrader : i decide not trading at that time (NFP news and Unemployment News) because mix result, so i don't know. have you ask live support?
No Pain, No Gain
  • #11
  • Nov 8, 2014 1:18am Nov 8, 2014 1:18am
Quoting JumpJack
i think you are missing the point. ECN means your orders are put to the market with no broker interference. If there is an order sitting on the other side (a sell to match your buy order for example) it will be filled at that time - from the time you click the button until it hits the market should only take milliseconds a. if there is no order waiting your order will sit waiting for a other side order or until you cancel. If the other side order is not the same size as your order you may also get a partial fill. Duks is not blocking your orders....
  • #12
  • Nov 8, 2014 6:13am Nov 8, 2014 6:13am
Quoting roughtrader
{quote} I have been experiencing other brokers apparantly afraid of my micro lots at news release, so really, Im not surprised to anything when it comes to forex brokers. they are capable to rip you off in any unthinkable way, trust me.

I'm not talking about other brokers but Dukascopy. If a broker which is regulated by the finma isn't trustworthy then we all should stop trading right now. Morever, as Jumpjack explained, an ECN broker acts like an intermediary betweem the trader and the liquidity provider. If there is no liquidity, there are also two possibilites :

1) The liquidity pool of Duka is weak.

2) There was a special event which may justify this lack of liquidity (e.g Important news like NFP)
  • #13
  • Nov 8, 2014 12:58pm Nov 8, 2014 12:58pm
Pretty sure they tried providing raw ECN depth via MT4 plugin but failed, so reverted to being market maker of their own SWFX exchange.

However, I would not trust them with their estonia or latvia branch, their swiss fx might be different with finma laws bit more strict. Even then, for swiss bank fx with duka aren't spreads usually 1-2pips for majors like EUR/USD+ they charge $60 round/mill for commissions? That is just ridiculous lmao, do either low pips and commission or integrate only pips for fee structure


P.S Pain in the ass to open a swiss fx trading account
  • #14
  • Nov 10, 2014 7:08am Nov 10, 2014 7:08am
Quoting 2Good2beTrue
{quote} you must be kidding right? do you think they are better than Dukascopy? @roughtrader : i decide not trading at that time (NFP news and Unemployment News) because mix result, so i don't know. have you ask live support?
Of course these brokers are better. I mean, go to Myfxbook compare the live spreads including commissions with Ducascopy and you get your answer.
  • #15
  • Nov 16, 2014 7:15am Nov 16, 2014 7:15am
Quoting PoundTrader
{quote}
no I didnt ask, I probably wont get a good answer
Bulls are stupid Animals!especially when Im short!
  • #16
  • Nov 16, 2014 7:18am Nov 16, 2014 7:18am
what do you think about Dukascopy now have binary options? I find that very disturbing since it is a fact, it's not investing, it's gambling and more of a outright slot machine and scam, because really, it's impossible to win with binarys, the house allways have the edge, I must say I find it disturbing a before respectable brooker by many as Dukascopy starts to use shady things like binarys, wich btw is illegal in the US, that makes you wonder, if they can use that, how honest would they be with the rest?
Bulls are stupid Animals!especially when Im short!
  • #17
  • Nov 16, 2014 8:05am Nov 16, 2014 8:05am
Quoting roughtrader
what do you think about Dukascopy now have binary options? I find that very disturbing since it is a fact, it's not investing, it's gambling and more of a outright slot machine and scam, because really, it's impossible to win with binarys, the house allways have the edge, I must say I find it disturbing a before respectable brooker by many as Dukascopy starts to use shady things like binarys, wich btw is illegal in the US, that makes you wonder, if they can use that, how honest would they be with the rest?
Huhm, I understand what's you mean, another broker has binary option i know is Etoro, they are acting like scamer. Dukascoppy is a swiss online bank and regulated under finma, I don't know about international law. I think if you do not satisfy with it you should try another. In my opinion, i think Dukascoppy have no reason to cheat you because they are ECN broker, correct me if i wrong! Also some people recommend professional traders trade with prime brokers, could some one explain what is prime brokers and give some big names?
  • #18
  • Nov 16, 2014 8:14am Nov 16, 2014 8:14am
Dukascopy isn't really a bank, they only have a banking licence, for prime brokers I think they are refering to brokers such as hotspot, or lcg, but you need to have a really large bankroll to open with these guys, för hotspot, it's 1mil and for lcg probably not far off, IB might be one? 10k
Bulls are stupid Animals!especially when Im short!
  • #19
  • Nov 16, 2014 8:53am Nov 16, 2014 8:53am
Quoting roughtrader
Dukascopy isn't really a bank, they only have a banking licence, for prime brokers I think they are refering to brokers such as hotspot, or lcg, but you need to have a really large bankroll to open with these guys, för hotspot, it's 1mil and for lcg probably not far off, IB might be one? 10k
It's just too big for us, i just take a look at currenex website and their platform really strange,
http://www.currenex.com/tour/
There is no chart?
  • #20
  • Nov 16, 2014 2:56pm Nov 16, 2014 2:56pm
Quoting roughtrader
Dukascopy isn't really a bank, they only have a banking licence, for prime brokers I think they are refering to brokers such as hotspot, or lcg, but you need to have a really large bankroll to open with these guys, för hotspot, it's 1mil and for lcg probably not far off, IB might be one? 10k
LCG 25K
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