DUKASCOPY or MB TRADING ???

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M6Andre
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45% rebates

Postby M6Andre » Tue Mar 23, 2010 9:37 am

leonyde wrote:is it 45% of the commission we pay to Dukascopy ?
or 45% or the molecule6 rebate?


Leonyde,

I confirm that it is on the total of the commissions charged by Dukascopy on your account. So, if you have a total commissions of 100 USD charged for one month, you get 45 USD back in your live account between the 10th to the 15th of the next month.

Dukascopy automatic system is taking it from my rebates and giving it to the traders using Molecule6 as Introducing Agent. So, I give away a big part of my Introducing Agent pay back to you...

Andre

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Postby leonyde » Tue Mar 23, 2010 9:45 am

Nice, thanks.

I've bookmarked your site, I will be in touch if I decide to open an account with Dukascopy...

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Postby M6Andre » Tue Mar 23, 2010 9:49 am

noone22 wrote:The best way to compare two brokers -
open account with two of them and see for yourself.

MBT has the lowest commissions (for usual people
with $5K accounts I mean, not noobs with half a mil).

Till not time ago Dukas smallest account to open was $50K,
but now it seems to be reduced up to 20 times.

I wonder, how much are Dukas comissions, if they
offer 45% reduction of it via IB?

Just made a simple rough comparison
for 5 pips win EURUSD trade:
MBT: spread is 1 pip (i.e. $1 for $10K mini-lot)
and commision is $0.39
So, you win gross of $5 and nett of $3.61

Don't know the figures for Dukas.
Because they don't have MT4, one would
still have to keep MBT open (at least - for running mq4).


Noone22,

There are a few variables to consider for calculating the fees. At Dukascopy, you have a commission based on the size of your account and a volume discount if you are an active trader. For example, an active scalper will easily reach the next lower fee level but a position trader would stay at his normal level. So, you first need to see where you stand in the structure. Here is the link for the fee structure :
http://www.dukascopy.com/swiss/english/ ... ?ibref=409

Then you can use the fee calculator here :
http://www.dukascopy.com/swiss/english/ ... ?ibref=409

Then, of course, you need to remove 45% of the fees to account for the rebates...

Andre

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Postby billie-on-air » Tue Mar 23, 2010 10:51 am

Thanks for all your responses guys, so informative. Sometimes you you do all the research you can on a brokers official site but nothing beats hearing it from someone who has firsthand knowledge and experience of using a broker, so my thanks to all.

To all traders using MBT , please come out to play and share your experiences ;-)

once again, thank you for all the info and God bless.

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Postby prochargedmopar » Tue Mar 23, 2010 1:55 pm

noone22 wrote:The best way to compare two brokers -
open account with two of them and see for yourself.

MBT has the lowest commissions (for usual people
with $5K accounts I mean, not noobs with half a mil).

Till not time ago Dukas smallest account to open was $50K,
but now it seems to be reduced up to 20 times.

I wonder, how much are Dukas comissions, if they
offer 45% reduction of it via IB?

Just made a simple rough comparison
for 5 pips win EURUSD trade:
MBT: spread is 1 pip (i.e. $1 for $10K mini-lot)
and commision is $0.39
So, you win gross of $5 and nett of $3.61


Don't know the figures for Dukas.
Because they don't have MT4, one would
still have to keep MBT open (at least - for running mq4).



Just made a simple rough comparison
for 5 pips win EURUSD trade:
MBT: spread is 1 pip (i.e. $1 for $10K mini-lot)
and commision is $0.39
So, you win gross of $5 and nett of $3.61


that's more than 20% in commisions and spread......BUT
If you make 10 pips..... net $8.61
If you make 20 pips... net $18.61
If you make 100 pips on said entry..... NET $98.61
Now that doesn't look so bad.
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Postby cfabian » Tue Mar 23, 2010 6:17 pm

Andre,
I cannot find if Duka has mobile platforms for windows mobile devices and blackberry. Can you please address this?

Cheers
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
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Postby M6Andre » Tue Mar 23, 2010 6:28 pm

cfabian wrote:Andre, I cannot find if Duka has mobile platforms for windows mobile devices and blackberry. Can you please address this?


Cfabian and readers,

Dukascopy is planning to start a new application for trading station for Iphone next week. Nothing yet for the other Windows mobiles out there or Blackberries.

But, it works great form a lap top with a cell phone stick !

Andre

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cfabian
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Postby cfabian » Tue Mar 23, 2010 6:31 pm

Thanks,
Weird it is for Iphone which is more a fashion device other than BB that is business oriented. Please send this comment to the IT dept.

Cheers


M6Andre wrote:
cfabian wrote:Andre, I cannot find if Duka has mobile platforms for windows mobile devices and blackberry. Can you please address this?


Cfabian and readers,

Dukascopy is planning to start a new application for trading station for Iphone next week. Nothing yet for the other Windows mobiles out there or Blackberries.

But, it works great form a lap top with a cell phone stick !

Andre
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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Postby PTG » Tue Mar 23, 2010 9:21 pm

The original topic was Dukascopy or MB Trading.

In the case of MB Trading, you should familiarize yourself with the following ruling, which is, according to MB Trading, as I found out, not eligible for appeal..

According to MBT, it periodically happens that "the market experiences an erroneous spike in the offer quote that causes an execution of your order". Let us say this is e.g. 60 odd pips away from the true market, leading to an unintended loss, at the end of the day, of let's say 130 odd pips.

This would be, according to MBT, "unfortunate, but does periodically happen", so "it is important for each trader to monitor their trading activity and if an execution appears to be outside of the norms of the current market, it is best to call the Order Desk to check to see if the execution will stand or not. The Order Desk will always give you the most current information possible. It is possible that when you call into the Order Desk that the destination had not yet ruled on the execution(s). These types of rulings are not eligible for appeal."

Not eligible for appeal, got that ?

You would be well advised, imo, to inquire at MB Trading about examples of such occurrences, the frequency of "spikes", what exactly constitutes "clearly", who decides on what is "clear" or "not", what happens if you don't react conform their Clearly Erroneous Policy for whatever reason (illness, not being familiar with this ruling and closing such a trade yourself, etc.) and all other things that may be "clear" to MB Trading but not necessarily to you. I would do this BEFORE you become a customer, because in my experience it becomes a tad difficult to communicate with them once you are a customer, which is a bit weird for a company that has "earned Barron's Top Broker Rating" for 2010. But then again, that may be just me; you will have to judge for yourself and fill in the blanks BEFORE you do business with them (or anyone else for that matter).

I don't know about other brokers, however Dukascopy does not have such a ruling I was assured, does not experience many spikes, and apparently solves it a different, more customer friendly way, which I'm sure I will find out some day as well. Tradestation also do not have such a "Clearly Erroneous Policy".

You can find the ruling here: http://www.mbtrading.com/disclaimerCEP.aspx

Good night, and good luck :wink:
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Postby billie-on-air » Tue Mar 23, 2010 11:06 pm

"The original topic was Dukascopy or MB Trading".
thanx PTG;-)

In the end you ran with MBT, what tipped the scales in your choice of broker because obviously there is something that attracted you to join them, pros and cons?

kind regards

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