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Does anyone have any experience with Dukascopy?

  • #61
  • Oct 8, 2014 12:06pm Oct 8, 2014 12:06pm
Never trust a broker that has a beauty contest
  • #62
  • Oct 8, 2014 12:14pm Oct 8, 2014 12:14pm
Dude,

Before you call someone stupid, better document yourself

Quote
The quotes represent a range of values resulting from an award-winning and patented Dukascopy method of market data filtration. The filtration is performed by monitoring and processing the data obtained from the traders using Dukascopy’s technology, and also by comparison of the received information with the data obtained from the alternative sources. The actual value achieved is an optimum price forecast for a ten-second period. In determining the forecast the ever fluctuating market prices were tamed by the method of data processing...

Quote

  1. Execution
    Dukascopy Bank SA has a unique technology to hedge instantly any clients' trades directly with other Liquidity Providers. Dukascopy Bank is currently connected to Bank Of America, Commerzbank, Nomura, Barclays, Currenex, SEB, Deutsche Bank, JP Morgan, Societe Generale, UBS, Goldman Sachs, Citibank, BNP Paribas, HSBC Bank, HotstpotFXI, Lava - FX All Morgan Stanley and other liquidity providers. All trades are usually executed in milliseconds.



Quoting Unabletrader
{quote} 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...
  • #63
  • Oct 22, 2014 8:23am Oct 22, 2014 8:23am
I have a live accout with Dukascopy EU and what advise deposit 10k or chose a more secure broker?
  • #64
  • Oct 22, 2014 8:48pm Oct 22, 2014 8:48pm
Quoting FreeLancerPT
I have a live accout with Dukascopy EU and what advise deposit 10k or chose a more secure broker?

Dukascopy is secure. I like them along with Interactive Brokers and FXCM. Whichever gives you best prices. All very good for larger deposits. I have accounts with Interactive and FXCM, both large public companies
  • #65
  • Feb 6, 2015 12:53pm Feb 6, 2015 12:53pm
Hi,

Recently I have slippage on every position I take, both entry and exit. In the past it was like 1 pip slippage so I wasn't bothered that much, but recently on every fu*** position I take I have on average 3 pips slippage, which makes it 6 pips on every trade (round-turn). I'm speaking here about regular hours, without any news. I didn't had 1 time when to get positive slippage, None!!!!

However I had 1 time when it was during a news event and my SL got -40 pips slippage.

Right now they have made some updates on their platform and their time execution has become awful, it takes up to 4-5s for my order to go through..... WTF!!! and of course you get the order fill at worse price.
  • #66
  • Feb 6, 2015 9:08pm Feb 6, 2015 9:08pm
@ triger88990

and size of your trades ?
what did they answer you about that (if you already ask them) ?
  • #67
  • Feb 6, 2015 9:45pm Feb 6, 2015 9:45pm
triger

are you at Duka Europe or Duka SA. i am considering to open an live account with one of them. the slippage you mentioned sounded serious especially during no-event normal hours. can others with duka ,pls comment
  • #68
  • Feb 7, 2015 10:51am Feb 7, 2015 10:51am
Quoting triger88990
Hi, Recently I have slippage on every position I take, both entry and exit. In the past it was like 1 pip slippage so I wasn't bothered that much, but recently on every fu*** position I take I have on average 3 pips slippage, which makes it 6 pips on every trade (round-turn). I'm speaking here about regular hours, without any news. I didn't had 1 time when to get positive slippage, None!!!! However I had 1 time when it was during a news event and my SL got -40 pips slippage. Right now they have made some updates on their platform and their time...
Step 1: Know your broker's server IP
1.1 Start Button -> Run
1.2 Type cmd and press OK
1.3 The previous command will open the MS-DOS console. Close all your network programs at this point.
1.4 Type netstat and note the connections you see. These are the remaining open connections that we didn't close in the previous step.
http://www.dukascopy.com/imageserver..._2/image76.jpg
1.5 Open your platform (JForex, Metatrader, ...) and type netstat again. You will get a new connection with a new IP address. This address is the broker's server IP. We will call it BROKER_IP.
http://www.dukascopy.com/imageserver...2/image224.jpg
Step 2: Verify reachability of the BROKER_IP
In this step we will discover if the server is behind a firewall or not.
2.1 Type in the console ping BROKER_IP. Wait some seconds and press Ctrl + C to stop. If you don't get the message Request Timed Out go to step 3. If you get the message, the broker is behind a firewall and we can't use the BROKER_IP to measure the latency. Instead, we will use the last IP of the tracert BROKER_IP command as shown in the images:
http://www.dukascopy.com/imageserver...2/image574.jpg
http://www.dukascopy.com/imageserver...2/image341.jpg
We use in the next step the IP previous to the Request timed out message. In the example, 4.69.155.20. We will call it LAST_IP.
Step 3: Measure the Latency
If the server wasn't behind a firewall, type in the console ping -t BROKER_IP. If it was behind a firewall, type ping -t LAST_IP. Wait some minutes and press Ctrl + C to stop the command. Your average latency is displayed:
http://www.dukascopy.com/imageserver...2/image161.jpg
http://www.dukascopy.com/imageserver...2/image831.jpg

In our example, the Average is 4 milliseconds.

The following ping ranges can be used for qualitative assessment of connection performance:
Ping delay<100ms Considered as optimal
Ping delay>100ms<200 Considered as average and small enough to exploit the platform in good conditions
Ping delay>>200ms<500 Small enough to exploit the platform but becomes problematic in volatile market environments. The rate of rejection starts to increase due to the connection speed
Ping delay>>500 Considered as problematic. The rate of rejection is likely to be high, even in average market volatility
  • #69
  • Feb 8, 2015 4:17pm Feb 8, 2015 4:17pm
@fx75
My size is anywhere between 100k-500k, on average my size is 200k.
Haven't ask them yet, I'll try to screenshot and video my trades so I'll have some evidence to bring up my case. I'll keep you posted.

@Zebtra
I'm with Dukascopy SA.

@Futures

I know you're trying to help out here but I'm an IT engineer so I guess I know this stuff. Recently another trader has confirmed me the execution time is awful after they been upgraded the platform.
  • #70
  • Feb 9, 2015 5:41am Feb 9, 2015 5:41am
Guys, why on earth a Swiss "Bank" would hold:
1. Beauty Contests
2. Have Binary Options (!!!)
3. Poker Tournaments
4. Give bonuses (Come on, seriously? A swiss bank to give bonuses? Get outta here...)

To me, some very desperate moves.
  • #71
  • Feb 9, 2015 7:43am Feb 9, 2015 7:43am
Quoting FxTyran
Guys, why on earth a Swiss "Bank" would hold: 1. Beauty Contests 2. Have Binary Options (!!!) 3. Poker Tournaments 4. Give bonuses (Come on, seriously? A swiss bank to give bonuses? Get outta here...) To me, some very desperate moves.
I mainly agree with you.
It just has to be noted that Dukascopy was initially a forex broker. They really only became a bank because Swiss legislation evolved and to be able to continue their brokerage activity in Switzerland.

Their "Bonus" is just really a rebate on the commission their charge on every trade. The amount of trade activity you have to do to be able to withdraw that bonus is HUGE ! The bonus, whatever it is isn't very relevant, you always have to look at how much lots you have to trade to calculate how much "bonus" you really get per lot traded. But I agree that bonuses don't look very well as they are often used by shady brokers.

Binary options, Poker and Beauty contests. That looks VERY bad, I 100% agree with you.
Now, seems they try attracts business as they can. It probably works. But if you want to have a serious image, it's probably not the way to do.

I'm just amazed by what Triger says: 3 pips slippage ???? For 2 lots trades (200k) ??? Seriously, that's crazy. What's the point of having less than 0.5 pips spread on EUR/USD if you get huge slippage behind ? I hope to know more about this ...
  • #72
  • Feb 9, 2015 7:49am Feb 9, 2015 7:49am
Quoting FxTyran
Guys, why on earth a Swiss "Bank" would hold: 1. Beauty Contests 2. Have Binary Options (!!!) 3. Poker Tournaments 4. Give bonuses (Come on, seriously? A swiss bank to give bonuses? Get outta here...) To me, some very desperate moves.
Thats the reason why I didn't want to open an account with them. I got lost on their website there is so much junk, including Dukascopy TV where I can pay to have my own logo embedded on it for my website.

A shame I don't have a website
  • #73
  • Feb 9, 2015 12:20pm Feb 9, 2015 12:20pm
Quoting mitch77
Never trust a broker that has a beauty contest
What do you mean?
Here I am. And I hope to win the contest.
You sucker...

Attached Image
  • #74
  • Feb 9, 2015 12:41pm Feb 9, 2015 12:41pm
Quoting futures
{quote} What do you mean? Here I am. And I hope to win the contest. You sucker... {image}
Yeah, know doubt you would handsome!
  • #75
  • Feb 9, 2015 12:44pm Feb 9, 2015 12:44pm
A russian crank with a banking license.. what could go wrong.
  • #76
  • Feb 9, 2015 4:49pm Feb 9, 2015 4:49pm
Hi. I traded with Dukas earlier - I liked their services, I think you are free to open a live account with them.
  • #77
  • Feb 10, 2015 12:57am Feb 10, 2015 12:57am
Quoting FxTyran
Guys, why on earth a Swiss "Bank" would hold: 1. Beauty Contests 2. Have Binary Options (!!!) 3. Poker Tournaments 4. Give bonuses (Come on, seriously? A swiss bank to give bonuses? Get outta here...) To me, some very desperate moves.
in someway , i concur with you.Swiss banks are always conservative in their business approaches and the promotions at Duka website is extra-ordinary. does anyone know how secure and trustworthy is the swiss regulator , Finma in guaranteeing that funds up to CHF 100,000.00 is safe and sound and will be return back to clients in the event of insolvency .just look at the shit at alpari UK .clients already had a freaking hard times in figuring out how to beat the market to generate profits and yet have to face deposits/profits fund protection and security
  • #78
  • Feb 10, 2015 3:59am Feb 10, 2015 3:59am
Quoting Zebtra
{quote} in someway , i concur with you.Swiss banks are always conservative in their business approaches and the promotions at Duka website is extra-ordinary. does anyone know how secure and trustworthy is the swiss regulator , Finma in guaranteeing that funds up to CHF 100,000.00 is safe and sound and will be return back to clients in the event of insolvency .just look at the shit at alpari UK .clients already had a freaking hard times in figuring out how to beat the market to generate profits and yet have to face deposits/profits fund protection...
If Ducas goes bust, it will be exactly the same process of administration as Alpari UK. It's not a question of regulation, the client's funds are safe and segregated under both the FINMA and the FCA.
It is a question of approach. You are a Swiss Bank, behave like one, for God's sake! Why do they behave like a banana republic bucket shop?
  • #79
  • Feb 13, 2015 12:45am Feb 13, 2015 12:45am
Quoting FxTyran
{quote} If Ducas goes bust, it will be exactly the same process of administration as Alpari UK. It's not a question of regulation, the client's funds are safe and segregated under both the FINMA and the FCA. It is a question of approach. You are a Swiss Bank, behave like one, for God's sake! Why do they behave like a banana republic bucket shop?
m 100% agree with fxtyran. I don't understand one thing,how FINMA swiss banking authority allows such type of bucket shop behavior.I never seen any bank offers deposit bonus,poker,binary options and different types of contest. I am aware of duka,is a reputable ECN broker in the world but due to cheap offers duka is also becoming cheap broker (bank). It seems their business is not trustworthy,they are doing anything attract traders. I know that broker who want traders to lose,offers bonus of 100%, so is duka really ECN or Bucket shop market maker or wolf in a ships cloth,god and duka guys know.
  • #80
  • Feb 19, 2015 4:00am Feb 19, 2015 4:00am
Their time execution is still crap, 3-4s to liquidate my trades WTF!!!! and it was during normal trading condition. I see no option but to close my account with them, I can't stand this situation, it's getting really ridiculous.
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