ECN Broker - MT4

This is a discussion on ECN Broker - MT4 within the Brokerages forums, part of the Commercial category; I've spent weeks going through the Ducascopy/FTT compliance. I didn't realise the commission was going to be over $20 per ...

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Old Nov 13, 2011, 5:20am   #76
 
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Joined Nov 2011
Re: ECN Broker - MT4

I've spent weeks going through the Ducascopy/FTT compliance. I didn't realise the commission was going to be over $20 per round turn. What a waist of time.

My fault for lack of due diligence.
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Old Nov 13, 2011, 11:42am   #77
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by bendex View Post
I've spent weeks going through the Ducascopy/FTT compliance. I didn't realise the commission was going to be over $20 per round turn. What a waist of time.

My fault for lack of due diligence.
Don't know where you found that but I'm in the process of opening a Live account with Dukascopy Europe. Opening a live account can take up to 2 weeks

Hope these help:
Commission Policy
Forex Calculator

Dukascopy can be confusing but its worth looking into plus if you use Molecule6 you get 45% rebates on commissions every month.

Its good to see you do some Due Diligence unlike some traders and even myself I have been caught out so well done you mate
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Old Nov 13, 2011, 11:54am   #78
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
=bendex;1720904Ducascopy/FTT compliance. I didn't realise the commission was going to be over $20 per round turn. What a waist of time.
Sorry Sunday morning didn't read post properly

I looked into the Dukascopy/FTT MT4 Bridge

And yes I found that your in effect paying double commission.

Commission to Dukascopy
Commission to FTT for the Bridge

MT4 was never designed for ECN trading only as a Platform for Market Makers. Retail Traders what more fair trading like ECN so brokers are adapting MT4 for ECN but I have to think is it still under the control of the Broker ?

So now with Dukascopy Europe reducing there min deposit and commission's I decided to leave MT4 and trade JFOREX ECN Platform with a respected broker.
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Old Nov 13, 2011, 2:39pm   #79
Joined Aug 2009
Re: ECN Broker - MT4

I think Dukascopy Europe is going to release a proper MT4 pratform without extra cost, not third party bridge. I could be wrong. But third party is already available, no need to have demo test, right?

BTW, has anyone noticed their commission is per million not per 100k?

I found if limits are used for entry/exit or both, MB Trading UK is the cheapest option. Their execution speed/price on live is very good (I don't work for them)

Last edited by alex2006; Nov 13, 2011 at 3:06pm. Reason: Change from 10k to 100k. that's what I meant
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Old Nov 13, 2011, 2:48pm   #80
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by alex2006 View Post
I think Dukascopy Europe is going to release a proper MT4 pratform without extra cost, not third party bridge. I could be wrong. But third party is already available, no need to have demo test, right?

BTW, has anyone noticed their commission is per million not per 10k?

I found if limits are used for entry/exit or both, MB Trading UK is the cheapest option. Their execution speed/price on live is very good (I don't work for them)
Sometime ago Dukascopy put out a press release that they have no plans to move from Beta Testing to Live trading with MT4
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Old Nov 13, 2011, 3:16pm   #81
Joined Jan 2011
Re: ECN Broker - MT4

Quote:
Originally Posted by alex2006 View Post
I think Dukascopy Europe is going to release a proper MT4 pratform without extra cost, not third party bridge. I could be wrong. But third party is already available, no need to have demo test, right?

BTW, has anyone noticed their commission is per million not per 10k?

I found if limits are used for entry/exit or both, MB Trading UK is the cheapest option. Their execution speed/price on live is very good (I don't work for them)
Just a warning about MBT
I have live trading experience with them and it wasn't good
they apear cheap but the swaps are huge
and also they charge you alot to withdraw,
not cus I have been able to make a successful withdraw yet,
but 30 for US citizens and 20 more outside US = ripoff!
it's all on their site.
executions are the slowest I ever seen,
the demo might be fast but live it's totally
untradable if you are a scalper,
several seconds delays are the norm,
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Old Nov 13, 2011, 3:20pm   #82
Joined Jan 2011
Re: ECN Broker - MT4

Quote:
Originally Posted by JDTRADER View Post
Sorry Sunday morning didn't read post properly

I looked into the Dukascopy/FTT MT4 Bridge

And yes I found that your in effect paying double commission.

Commission to Dukascopy
Commission to FTT for the Bridge

MT4 was never designed for ECN trading only as a Platform for Market Makers. Retail Traders what more fair trading like ECN so brokers are adapting MT4 for ECN but I have to think is it still under the control of the Broker ?

So now with Dukascopy Europe reducing there min deposit and commission's I decided to leave MT4 and trade JFOREX ECN Platform with a respected broker.
so you are trading with Dukas EU now?
are the rebate from molecule6 active for the EU site yet?
thats what Im waiting for
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Old Nov 13, 2011, 3:27pm   #83
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by chrisbliss View Post
so you are trading with Dukas EU now?
are the rebate from molecule6 active for the EU site yet?
thats what Im waiting for
Just started the process last Thursday and posted all my details off.

Molecule6 is now active for Dukascopy Europe, copy of email:

Good day John,

I am in the final step of being officially an Introducing Agent for Dukuscopy Europe. My agent number is 7600 and can already be used for live registration. All rebates conditions are the same as with Dukascopy Bank in Switzerland. So, you will get 45% rebates...

Sincerely,

Andre Gauthier
President


Contact:
Skype : M6Andre
Phone : 1-819-563-8823
E-mail : AG@Molecule6.com
Website : Molecule6 - World's Best Dukascopy Introducing Agent + Highest 45% Rebates Program + Free Trading Tools
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Old Nov 13, 2011, 3:31pm   #84
Joined Aug 2009
Re: ECN Broker - MT4

Quote:
Originally Posted by chrisbliss View Post
Just a warning about MBT
I have live trading experience with them and it wasn't good
they apear cheap but the swaps are huge
and also they charge you alot to withdraw,
not cus I have been able to make a successful withdraw yet,
but 30 for US citizens and 20 more outside US = ripoff!
it's all on their site.
executions are the slowest I ever seen,
the demo might be fast but live it's totally
untradable if you are a scalper,
several seconds delays are the norm,
My execution was ok maybe because my trading size is small, 100k or less? Bigger sizes face liquidity issue?

BACS (UK's 3-day bank transfer system)withdrawal is free for UK clients. My withdrawal request was made Friday night, 5 Nov (effectively Monday 7 Nov)but have not received yet until end of Friday 11 Nov.

Last edited by alex2006; Nov 13, 2011 at 3:40pm.
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Old Nov 13, 2011, 3:35pm   #85
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread I think any broker you can find faults

It comes down to want YOU want and HOW you trade

Like a good pair of shoes

THEY HAVE TO FIT
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Old Nov 13, 2011, 3:38pm   #86
Joined Jan 2011
Re: ECN Broker - MT4

Quote:
Originally Posted by JDTRADER View Post
Just started the process last Thursday and posted all my details off.

Molecule6 is now active for Dukascopy Europe, copy of email:

Good day John,

I am in the final step of being officially an Introducing Agent for Dukuscopy Europe. My agent number is 7600 and can already be used for live registration. All rebates conditions are the same as with Dukascopy Bank in Switzerland. So, you will get 45% rebates...

Sincerely,

Andre Gauthier
President


Contact:
Skype : M6Andre
Phone : 1-819-563-8823
E-mail : AG@Molecule6.com
Website : Molecule6 - World's Best Dukascopy Introducing Agent + Highest 45% Rebates Program + Free Trading Tools
thats good news
happy trading!
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Old Nov 13, 2011, 3:55pm   #87
Joined Jan 2011
Re: ECN Broker - MT4

Quote:
Originally Posted by alex2006 View Post
My execution was ok maybe because my trading size is small, 100k or less? Bigger sizes face liquidity issue?

BACS (UK's 3-day bank transfer system)withdrawal is free for UK clients. My withdrawal request was made Friday night, 5 Nov but have not received yet until now, Sunday 12 Nov.
I never wen't above 100k
UK clients might have the privilege,
if you live in England you would be ok,
but note that it's UK citizens not EU,
if you don't live in England you should check that up.
I also have no experience with the MBT EU site.
maybe it differ from their US site?
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Old Nov 19, 2011, 7:35pm   #88
Joined Aug 2009
Re: ECN Broker - MT4

Quote:
Originally Posted by chrisbliss View Post
I never wen't above 100k
UK clients might have the privilege,
if you live in England you would be ok,
but note that it's UK citizens not EU,
if you don't live in England you should check that up.
I also have no experience with the MBT EU site.
maybe it differ from their US site?
I am a UK citizen. However the wire costs 30 Pounds(approx. $47). My wire withdrawal went through and got it the following day (US/UK time zone).
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Old Nov 20, 2011, 1:48am   #89
Joined Jan 2011
Re: ECN Broker - MT4

thats good for you,
personally i think the withdraws cost sux,
it's bad enough the bank charge for it,
but when the broker also addon to that it's just greed :/
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Old Nov 20, 2011, 1:51am   #90
Joined Jan 2011
Re: ECN Broker - MT4

for those interested I Just found out Molecule6 is now
avalible with Dukscopy EU
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