DUKASCOPY or MB TRADING ???

discussion on brokers, order execution, order automation and everything broker-related

Moderator: moderators

User avatar
M6Andre
rank: <50 posts
rank: <50 posts
Posts: 35
Joined: Mon Mar 22, 2010 10:46 am
Reputation: 0
Location: Canada
Real name: Andre Gauthier
Gender: Male
Contact:

Postby M6Andre » Mon Apr 19, 2010 8:21 pm

billie-on-air wrote:I found this as i read the Dukascopy traders agreement...
15. Conflicts of Interest
The user understands that the business model of the SWFX Swiss Forex Marketplace consists in ensuring best execution .....Dukascopy is counterparty of each trade and counter trade.In some circumstances,Dukascopy may not hedge entirely or may not hedge at all certain trades. In such cases,Dukascopy may have opposite positions towards Users.
Any course for concern regarding that statement. Sounds to me like how most bucketshops operate if i understood that statementment well.
Feedback anyone...


billie-on-air,

This is a legal quote protecting the Broker in case of platform or server bug. Legal department always fear and plan for the worst !

Andre

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
billie-on-air
rank: <50 posts
rank: <50 posts
Posts: 30
Joined: Tue Jun 16, 2009 2:15 am
Reputation: 0
Gender: Female
Contact:

Postby billie-on-air » Mon Apr 26, 2010 7:19 am

M6Andre wrote:
billie-on-air wrote:I found this as i read the Dukascopy traders agreement...
15. Conflicts of Interest
The user understands that the business model of the SWFX Swiss Forex Marketplace consists in ensuring best execution .....Dukascopy is counterparty of each trade and counter trade.In some circumstances,Dukascopy may not hedge entirely or may not hedge at all certain trades. In such cases,Dukascopy may have opposite positions towards Users.
Any course for concern regarding that statement. Sounds to me like how most bucketshops operate if i understood that statementment well.
Feedback anyone...


billie-on-air,

This is a legal quote protecting the Broker in case of platform or server bug. Legal department always fear and plan for the worst !

Andre


Thanks for clarifying Andre....

And also a huge thanks to everyone for their inputs on this thread,ive opened a dukascopy acc and it took them 3days to sort me out,guess i am lucky compared to the hustle i hear they give when opening an acc.

happy trading to all !

User avatar
noone22
rank: 150+ posts
rank: 150+ posts
Posts: 390
Joined: Tue Aug 05, 2008 4:50 am
Reputation: 0
Gender: None specified

Postby noone22 » Tue Apr 27, 2010 6:49 am

MT4 is still in demo and beta-testing only in Dukas.
Is it knowm, when they could go live with MT4?
And what will be the minimum account size (in US$)
to open live MT4 account then?

User avatar
billie-on-air
rank: <50 posts
rank: <50 posts
Posts: 30
Joined: Tue Jun 16, 2009 2:15 am
Reputation: 0
Gender: Female
Contact:

Postby billie-on-air » Tue Apr 27, 2010 9:31 am

noone22 wrote:MT4 is still in demo and beta-testing only in Dukas.
Is it knowm, when they could go live with MT4?
And what will be the minimum account size (in US$)
to open live MT4 account then?


N22....

it is not yet known when they will go mt4 live ...but the minimum acc size is still @ US$1000/equivalent to that in any of the major currencies .

morfisher
rank: <50 posts
rank: <50 posts
Posts: 14
Joined: Sat Mar 20, 2010 4:37 pm
Reputation: 0
Gender: Female

Postby morfisher » Mon May 03, 2010 3:43 pm

Hi All

I am on demo with FXCM,Alpari and FXpro. I am told to stick with those that provide ECN and therefore am going to open a demo with Dukascopy and MB Trading because I am getting nearer to going live. On demo with Alpari I kept getting problems during busy times, fxcm/fxpro were ok. I have only just realised that Dukascopy do not have MT4, what are pros/cons of not having the MT4? Who would you recommend a newbie starts with?
Your advise is much appreciated. Thks,

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

morfisher
rank: <50 posts
rank: <50 posts
Posts: 14
Joined: Sat Mar 20, 2010 4:37 pm
Reputation: 0
Gender: Female

Postby morfisher » Mon May 03, 2010 3:45 pm

Hi All

I am on demo with FXCM,Alpari and FXpro. I am told to stick with those that provide ECN and therefore am going to open a demo with Dukascopy and MB Trading because I am getting nearer to going live. On demo with Alpari I kept getting problems during busy times, fxcm/fxpro were ok. I have only just realised that Dukascopy do not have MT4, what are pros/cons of not having the MT4? Who would you recommend a newbie starts with?
Your advise is much appreciated. Thks,

User avatar
M6Andre
rank: <50 posts
rank: <50 posts
Posts: 35
Joined: Mon Mar 22, 2010 10:46 am
Reputation: 0
Location: Canada
Real name: Andre Gauthier
Gender: Male
Contact:

Postby M6Andre » Mon May 03, 2010 3:58 pm

morfisher wrote:I am on demo with FXCM,Alpari and FXpro. I am told to stick with those that provide ECN and therefore am going to open a demo with Dukascopy and MB Trading because I am getting nearer to going live. On demo with Alpari I kept getting problems during busy times, fxcm/fxpro were ok. I have only just realised that Dukascopy do not have MT4, what are pros/cons of not having the MT4? Who would you recommend a newbie starts with?
Your advise is much appreciated. Thks,


Morfisher,

You are right, better stick to ECN brokers as they are more and more available and no longer exclusive to large account holders. MT4 is a very good trading plateform specially for charting. The visual and flexibility are super. But for live trading, some platforms like the JForex at Dukascopy is much faster and very solid. Now, the other point to consider is automation, lots of traders are using Expert Advisors and are in need of MT4. It is possible to translate EAs into Java for JForex but not always simple and easy but possible. If you are a manual trader or semi-automatic trader, JForex is very good. It is also fairly easy to learn how to use by simply listening to the training videos I made available here : http://www.molecule6.com/en/how-to-videos.html

Let me know if you have other questions...

Andre

tking
rank: <50 posts
rank: <50 posts
Posts: 32
Joined: Fri Jul 10, 2009 8:57 pm
Reputation: 0
Location: Colorado
Gender: Male

Postby tking » Mon May 03, 2010 4:25 pm

morfisher,

I would advise that you do a detailed calculation on what a typical trade would cost with each different broker so that you can see how they compare. I did this comparing MBT, Dukas, and Alpari who I have been demoing with. I found that MBT was only slightly better than Alpari and that Dukas was not cheaper than Alpari until using an account of at least $25k with Dukas and at that point it was about the same as MBT, and that was with the Dukas rebate. I admit that I have not refined my calculations yet to be totally sure that I am doing it right and using the correct spreads, but the results make me realize that I must consider if there are other significant advantages to using one of these ECNs. I am now taking a look at OANDA who has much better spreads than Alpari, which would make it the better broker in terms of costs at least until account size would lower the commissions with Dukas.

From what I have read in the past, MT4 is great for charting, but not the preferred means of placing trades. I tried MBT with their MT4 demo and Alpari provided much better data from my brief observations - I suspect it may have improved by now.

Don't rely on anything I say here. Check things out for yourself and let me know what you come up with if you don't mind.

User avatar
M6Andre
rank: <50 posts
rank: <50 posts
Posts: 35
Joined: Mon Mar 22, 2010 10:46 am
Reputation: 0
Location: Canada
Real name: Andre Gauthier
Gender: Male
Contact:

Postby M6Andre » Mon May 03, 2010 6:15 pm

tking wrote:morfisher,

I would advise that you do a detailed calculation on what a typical trade would cost with each different broker so that you can see how they compare. I did this comparing MBT, Dukas, and Alpari who I have been demoing with. I found that MBT was only slightly better than Alpari and that Dukas was not cheaper than Alpari until using an account of at least $25k with Dukas and at that point it was about the same as MBT, and that was with the Dukas rebate. I admit that I have not refined my calculations yet to be totally sure that I am doing it right and using the correct spreads, but the results make me realize that I must consider if there are other significant advantages to using one of these ECNs. I am now taking a look at OANDA who has much better spreads than Alpari, which would make it the better broker in terms of costs at least until account size would lower the commissions with Dukas.

From what I have read in the past, MT4 is great for charting, but not the preferred means of placing trades. I tried MBT with their MT4 demo and Alpari provided much better data from my brief observations - I suspect it may have improved by now.

Don't rely on anything I say here. Check things out for yourself and let me know what you come up with if you don't mind.


TKing and all,

Here is a free java for JForex spread tool (Spread_3) I recently sent to all traders in my database. It is showing you Dukascopy spreads on all pairs. To better understand how to use it, just visit the following page and listen to the video :
http://www.molecule6.com/en/jforex-auto ... ategy.html

Andre
Attachments
Spread_3.zip
(5.9 KiB) Downloaded 10 times

morfisher
rank: <50 posts
rank: <50 posts
Posts: 14
Joined: Sat Mar 20, 2010 4:37 pm
Reputation: 0
Gender: Female

Postby morfisher » Mon May 03, 2010 6:40 pm

Hi All

I am on demo with FXCM,Alpari and FXpro. I am told to stick with those that provide ECN and therefore am going to open a demo with Dukascopy and MB Trading because I am getting nearer to going live. On demo with Alpari I kept getting problems during busy times, fxcm/fxpro were ok. I have only just realised that Dukascopy do not have MT4, what are pros/cons of not having the MT4? Who would you recommend a newbie starts with?
Your advise is much appreciated. Thks,

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “brokers”