TRADE ECN FOREX/CFD
The spreads at Dukascopy are shown at interbank prices with no mark-up.
Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry. Using 28 different variables, we have created a proprietary score the higher the better of overall trustworthiness, which we call the Trust Score. Here is our trust summary of Dukascopy. Dukascopy offers one account type for FX trading under its Forex ECN account, where the execution method can vary between agency and dealing desk. While the spreads are the same for all clients in the ECN account, the added commission rates you pay will vary depending on your trading volume, balance, and net deposits.
In terms of all-in cost of trading, Dukascopy competes near the top among forex brokers that support automated trading and active trading programs such as FXCM, Forex. For our Forex Review, customer service phone tests were conducted over three months. The data collected is institutional grade.
On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally and thoroughly answer each question.
A Net Promoter Score was also given for the overall experience. In , Dukascopy further boosted its research offering by integrating a variety of additional market content into its web and mobile trading platforms. Not only is the content relevant and insightful; it is also professionally created and educational, making it beneficial for all clients, regardless of skill set. Other research tools include pattern analysis and automated trading systems within the charting experience. While the broker does support a third-party bridge for clients to access the widely popular MetaTrader4 MT4 platform, its main focus is on JForex.
To learn more about MT4, read our MetaTrader guide. For this review, I focused on JForex3. One subtle feature I appreciate is Dukascopy outlines an extensive list of notes whenever the platform is updated, showing what changes and improvements were made from the prior version.
For charting, Dukascopy added over 30 new indicators to the JForex3 desktop platform in , bringing the total available from last year to just over This is more than nearly all other brokers we have reviewed, with the exception being the indicators found on the thinkorswim platform by TD Ameritrade. Another nice design feature is seen when hovering over an indicator, which will reveal a preview of how it looks on the chart. Whether using any of the 24 different drawing tools or adding and customizing indicators, I found charting to be a seamless and enjoyable experience.
Yet another example of how the JForex3 platform shines can be seen each time an additional trend line is drawn. Every new trend line added automatically has a new color applied to keep viewability crisp and clean. This is in comparison to most other platforms where the color must be changed manually afterwards. All in all, traders passionate about technical analysis will appreciate the rich user experience provided by JForex3. Moving to the web-based version of JForex3, the platform is not as robust as the desktop version, although Dukascopy has made significant improvements since our review last year.
In , the platform looks more modern and provides a more seamless experience. While I was pleased to see the web platform become more responsive as the broker shifted away from its outdated flash-based version, I did encounter some limitations as Java is required. Lastly, Dukascopy also provides an app store with hundreds of apps that traders can use with the JForex3 platform suite.
While most forex traders prefer MetaTrader 4 to a proprietary platform built in house, JForex3 stands on its own and competes with the best on the market. SWFX Trader also has robust charting with several customizable parameters and alerts that can easily be added from the same screen. Charting operated seamlessly and was rich with options such as a list of 47 technical indicators — which is above the industry average for mobile trading.
Additional strongpoints in the app include the level-two quotes and several related order types, including conditional and bid offer orders, which can be used when placing a trade. In the research domain, the SWFX Trader mobile app has an impressive range of useful tools, including several different pre-defined screens and a clean, customizable view of marker movers, which can be refined across four time frames ranging from hourly to monthly.
There is also a pattern-recognition tool for trading ideas, organized neatly next to the other research categories. Overall, Dukascopy Bank finished best in class in the mobile trading category for our review.
Dukascopy does a good job of providing fx traders with plenty of resources for research, for example Dukascopy TV, alongside a diverse range of services within the SWFX online community. That said, customer service is one area where the broker could improve to further boost its premium range of services. What I do not understand and can't accept is if it is a persisting problem that affects many, why not try and resolve it for good?
Do you mean we have to contact your support every single trade since that is what I experience? It is quite a hassle I would like to think. I feel that they have had very poor liquidity and I was getting slipped regularly. I don't think the slips have favored me much so far but I have been lucky on quite a few. This is especially the case during news time when things go haywire. But then again, I am yet to find a broker that does "deliver" during new time.
Another unfortunate incident that I experienced with Dukascopy was when one of my trades closed down on its own without any prior warning or a reason. What's worse, the issue was never solved. I am still in the dark as to why and how something like that can happen.
Have any of you experienced the same thing or is it just me? Ok, I know it sounds like I am just complaining but overall Dukascopy gets a thumbs up from me. I had no problem with their customer service and have been trading with them for over a year and a half now. I am really glad I discovered them and in my opinion they are the most honest and reliable Forex brokers online.
I do not say this lightly as I know the heartache and desperation that one goes through when you are not dealing with an honest broker. These guys are really up to their game what else can you expect from the Swiss? Withdrawals are easy and I usually have my money quite quickly. I can honestly say I am glad I made the move to them as I have had much worse experiences with other brokers.
Even though you may find some negative feedback on other websites, I suspect it is only because of individual gripes and client unhappiness that happens in every business.
Other than a few delays and hiccups that I have experienced with them I really can not complain about them. I always suggest you start with a small amount and test them out and see for yourself.
I hope this review helps, as I can recommend Duksacopy for anyone wanting a reliable and above average Forex broker. On the whole, Dukascopy is one of the most reliable brokers around in terms of execution speed, slippage, and spreads. It is worth remembering that a broker with some of these on the good side is probably a good broker to be dealing with.
Perhaps Dukascopy is the right broker for you if you intend to invest a large capital in forex trading. The vital point to remember is, if you have a good ECN broker, and if they in turn have many liquidity providers, then you could be rest assured of getting the smallest spreads and the best fills on your orders. This is an excellent Broker, I have been trading with them for the past 5 months, and it?
Stop Loss and Take profit and pending orders very accurate so far. OK here are my reasons why to believe they may be MM with all the negative consequences: I recall times with Dukas, over a year ago, where the word 'slippage' was rarely heard in my office, where a stop loss got filled even in a hectic market, today, I can count the trades where I don't get slipped on one hand. No matter if it is a stop entry order or a stop loss order. I get slipped on market orders with off market quotes, prices not seen neither on the Dukas live client price terminal, nor on their charts.
It's frustrating to say the least. Keep in mind that they were a dealing desk from '03 - ' Also, check out their site from '00 - '02 if you want some laughs. I consider them as an example. They have only one datafeed for all their clients. A very good example of full transparency and honesty in the industry.
I hope the industry will follow them. To check to see if your broker is licensed in Switzerland, go to www. FINMA is the regulator in Switzerland for all financial companies such as banks, brokers, asset managers, funds, etc.
Dukascopy is not licensed in Switzerland. Tried them out in early ' No slippage on the few orders of M I did. I was concerned about the inside book depth, if you search these forums, you can find details about it. Perhaps they fixed that issue by now, who knows.
I might give them another test whenever their bank license gets approved. Also a Dukas client and would like to hear recommendations of people who were with Dukas and have switched. My problem with them is their quotes. I personally have never traded with duka. But I work in the industry and I do like their business model. I also hear rumors their business model isn't what it appears on the outside from people who have worked there. But, I can't say unless I was actually on the inside there.
Yes, duka is applying for the bank license, but still they are not regulated at the moment and it is risky to trade with them. Most providers quote with 0. That's not what i call STP anyways. Forex trading carries a high level of risk and may not be suitable for all investors. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it.
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Our slippage data about Dukascopy is sampled by 10 of the most popular forex trading strategies in Zulutrade.
Dukascopy slippage with Kama-spot trading strategy. Dukascopy slippage with Saved FX trading strategy. Dukascopy slippage with Qurenix trading strategy. Dukascopy slippage with Forex Cruise Control trading strategy. Dukascopy slippage with For trading strategy.
Dukascopy slippage with Azar Consulting trading strategy. Dukascopy slippage with The Best Player trading strategy. Dukascopy slippage with Xiaolidao trading strategy. Dukascopy slippage with Youron trading strategy. JForex on the Turkish Market Mar 04 Top Forex brokers More details. Submit a complaint or share your experience with Dukascopy Your Name. Your vote for Dukascopy 5 stars 4 stars 3 stars 2 stars 1 star Security code.
A good broker, but too much red tape In general, they are a sound and safe company, but too much red tape. Best If you have managed account If you want to open a managed account, Dukascopy Bank is the best choice. Dukascopy is a good forex broker These guys are excellent. Dukascopy improves execution to offer ECN environment to everyone Dukascopy keeps on surprising me.
Dukascopy became a bank, deposits up to CHF are safe I'm a new trader and initially I was really hesitatant to join them. Dukascopy liquidity is much higher now A couple a years ago this really wouldn't be my first choice for an ECN broker.
Dukascopy is slipping by as much as a pip every single trade I must say that I have traded with quite a number of platforms and Dukascopy is but only one of the countless. Dukscopy is an excellent broker, execution time is max 0. I believe that Dukascopy is just another bucket shop OK here are my reasons why to believe they may be MM with all the negative consequences: I get slipped on market orders with off market quotes I recall times with Dukas, over a year ago, where the word 'slippage' was rarely heard in my office, where a stop loss got filled even in a hectic market, today, I can count the trades where I don't get slipped on one hand.
Keep in mind that Dukascopy was a dealing desk broker Keep in mind that they were a dealing desk from '03 - ' Dukascopy have only one datafeed for all their clients I consider them as an example.
Dukascopy's inside book depth Tried them out in early ' Dukas prices vary from my charts Also a Dukas client and would like to hear recommendations of people who were with Dukas and have switched. I do like Dukascopy's business model I personally have never traded with duka.
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