ECN Broker - MT4

[chrisbliss]

Dukascopy just opened a new brokerage aimed for retail clients in EU,
Dukascopy EU, the minimum deposit is believe it or not just 100 usd!
in my interview with them they claim Dukas EU offering the same trading privilegies as
Dukas Swiss, and money protected up to 100000 CHF,
and there is no difference in trading place,
it's the same ECN as the Duka swiss
I thought that sounds pretty good.
however Im not sure about their regulation
and I can't find anything on their eu website,
but maybe they don't need regulation since they are a bank already??
anyone have information on that?

 

[alex2006]

Dukascopy just opened a new brokerage aimed for retail clients in EU,
Dukascopy EU, the minimum deposit is believe it or not just 100 usd!
in my interview with them they claim Dukas EU offering the same trading privilegies as
Dukas Swiss, and money protected up to 100000 CHF,
and there is no difference in trading place,
it's the same ECN as the Duka swiss
I thought that sounds pretty good.
however Im not sure about their regulation
and I can't find anything on their eu website,
but maybe they don't need regulation since they are a bank already??
anyone have information on that?

Very interesting indeed. The best news I found on their website is MT4 in beta testing at the moment. However, their EUR/USD spread doesn't look very attactive:innocent:

 

[chrisbliss]

Very interesting indeed. The best news I found on their website is MT4 in beta testing at the moment. However, their EUR/USD spread doesn't look very attactive:innocent:

believe me, Dukascopy spread is very attractive,
it's variable spread in ECNs so they are not fixed,
they change all the time depending on volume in the market,

what was it when you had a look?
right now there is very thin traffic, only Asia is open now
I think after London open we could see something like 0.5 pip spread??
anyway I wish!!
I just had a look now, Asia session


EUR/USD 1.38549 1.38559

thats just 1 pip:clap:

I tested their demo acount with the Jforex platform,
to my suprice after all bad reviews of Jforex it wasn't bad at all,
I also found the charting to be really ok,
I haven't tested any EAs in it yet though,
anyhow I guess they have to be recoded into java or something first,
mq4 probably won't work

 

[JDTRADER]

I tried Dukascopy in the past but found it to expensive for me plus the JFOREX platform is a bit confusing.

Since I read here that they are in Europe now I re-looked at them and with now Lots from 0.001 looks cheap to trade now with min £100 Dep.

Downloaded the Demo and WOW what a difference in trading plus I contacted Molecule6 and there are about to offer 45% Comm Rebates in a week or Two to Dukascopy Europe Traders :clap:

Both together look fantastic

 

[chrisbliss]

Commision rebates is good news!
I seen mostly good reviews about them,
I think I will just sign up and see how they are,
it could be worth a 100

 

[JDTRADER]

Commision rebates is good news!
I seen mostly good reviews about them,
I think I will just sign up and see how they are,
it could be worth a 100

What to sign up through M6 so you get the Rebate. Dukascopy do not give rebates if you sign up directly. Rebate Program has been up and running for years on the Swiss Site but now in Europe M6 will be offering the same rebates in a week or two.

Email M6 and they will inform you when they are ready

 

[Als]

I tried Dukascopy in the past but found it to expensive for me plus the JFOREX platform is a bit confusing.

Since I read here that they are in Europe now I re-looked at them and with now Lots from 0.001 looks cheap to trade now with min £100 Dep.

Downloaded the Demo and WOW what a difference in trading plus I contacted Molecule6 and there are about to offer 45% Comm Rebates in a week or Two to Dukascopy Europe Traders :clap:

Both together look fantastic

is molecule6 so necessary?

why not to try direct rebate?

your feed back wud be precious

example is here..........(in the low part of page)

FinFX opinions - Page 19 @ Forex Factory
,

 

[chrisbliss]

yep I wouldn't want to miss that rebate,
thanks for the tip!
I guess there is many rebate sites out there,
I don't know which one would be best to use
but molecule6 is ok by me

 

[JDTRADER]

is molecule6 so necessary?

No not necessary at all. But costs you nothing and get cashback. They Earn You Earn. Without it you pay full Comm. There are other firms that do this to but M6 offer the most and have the best reviews.

why not to try direct rebate?

Dukascopy do not give Direct Rebates

I'm not selling them or anything to do with them as always in Trading you must always do your Due Diligence :smart:

 

[Als]

yep I wouldn't want to miss that rebate,
thanks for the tip!
I guess there is many rebate sites out there,
I don't know which one would be best to use
but molecule6 is ok by me

hi chrisbliss!

nice to see you live and kicking!

is your love with divisa over?

who are you with now?

you want to try duka?

well.........do not forget there were some complaints about slippage

when any rebate becomes senseless

and you refuse to look at finfx(my favorite at present) ?

 

[chrisbliss]

still love Divisa,
I have live acounts on fxcm mbt divisa
and soon dukascopy yes, Im going to try them,
I wanted to try them before but their min deposit
was to big at the time, 50000 or so,
100 is a bit better
trading on fxcm atm,
yes I saw about the slippage,
the guy wrote afterwards he had calculated wrong,
there is allways going to be slippage with ECNs,
I think thats just normal as long as it goes both ways.
it will be interesting to read more about that.
sry to say your favorite is off limit for me
I don't believe they are a ECN,
from things I noticed trading their demo
it is evident to me they have a dealing desk.

 

[Als]

still love Divisa,
I have live acounts on fxcm mbt divisa
and soon dukascopy yes, Im going to try them,
I wanted to try them before but their min deposit
was to big at the time, 50000 or so,
100 is a bit better
trading on fxcm atm,
yes I saw about the slippage,
the guy wrote afterwards he had calculated wrong,
there is allways going to be slippage with ECNs,
I think thats just normal as long as it goes both ways.
it will be interesting to read more about that.
sry to say your favorite is off limit for me
I don't believe they are a ECN,
from things I noticed trading their demo
it is evident to me they have a dealing desk.

thanks for reply

but there were many negative posts about fxcm mbt

anyway wud be glad if you to post your reports

and how have you come to such conclusion that finfx is not retail ecn/stp?

any hint?

--------

regards and lucky trading

 

[chrisbliss]

thanks for reply

but there were many negative posts about fxcm mbt

anyway wud be glad if you to post your reports

and how have you come to such conclusion that finfx is not retail ecn/stp?

any hint?

--------

regards and lucky trading

Yes I know there is many negative posts about them,
some is legit some are probably not,
fxcm is stp and I find them ok to trade with
fast executions no requotes and they pay out,
but they are certanly not perfect,
you probably heard of the fxcm scandal,
they where fined by NFA to pay millions,
inspite of their previous history it's been a pleasant trading experience with them so far.
I guess everyone can improve them self.
mbt is ? dealing desk hybrid very nice spreads but horrible trading experience,
I haven't been trading with them for a long time
slow executions and I doubt I ever see my money again,
they claim the checks bounced twice,
strange, it was ok to deposit with the same thing, well
on a scale from 1-10 non ECN brokers,
fxcm 9
mbt 1

the reason I don't like finfx is because they
freezed or blocked the platform at news several times even it was a demo acount,
this was at the begining when they just became operational,
I suspect some miss configuration there otherwice they would have no reason to block demos
I was not able to execute any trades at news and only at news.
this was a demo ok ,then I wonder what they might do in a live acount?
if they where a true ECN they would have no interests in such things,
and that implies they have control over the platform, probably using the plugin
I suspect they are a false ECN
also they are not regulated,
I might oversee the regulation part but not that behaviour.
to many bad things about them.

 

[Als]

Yes I know there is many negative posts about them,
some is legit some are probably not,
fxcm is stp and I find them ok to trade with
fast executions no requotes and they pay out,
but they are certanly not perfect,
you probably heard of the fxcm scandal,
they where fined by NFA to pay millions,
inspite of their previous history it's been a pleasant trading experience with them so far.
I guess everyone can improve them self.
mbt is ? dealing desk hybrid very nice spreads but horrible trading experience,
I haven't been trading with them for a long time
slow executions and I doubt I ever see my money again,
they claim the checks bounced twice,
strange, it was ok to deposit with the same thing, well
on a scale from 1-10 non ECN brokers,
fxcm 9
mbt 1

the reason I don't like finfx is because they
freezed or blocked the platform at news several times even it was a demo acount,
this was at the begining when they just became operational,
I suspect some miss configuration there otherwice they would have no reason to block demos
I was not able to execute any trades at news and only at news.
this was a demo ok ,then I wonder what they might do in a live acount?
if they where a true ECN they would have no interests in such things,
and that implies they have control over the platform, probably using the plugin
I suspect they are a false ECN
also they are not regulated,
I might oversee the regulation part but not that behaviour.
to many bad things about them.

appreciate your opinion

but what about lmax?

demo spreads and execution are fine (ugly platform though)

some reports of live acct holders are also favorable..........

your thoughts?

 

[chrisbliss]

LMAX is one of the most interesting brokers in my opinion,
they seem to be just fine from what I can tell,
I have no experience trading with them though,
there is just one thing in the FSA register
something about "they are able to withhold clients money"
other than that and if you can spare 5000 + 60 month
Id say go for it

 

[bendex]

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.

 

[JDTRADER]

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 :clap:

 

[JDTRADER]

=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 :-0 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.

 

[alex2006]

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）

 

[JDTRADER]

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