DUKASCOPY or MB TRADING ???

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es/pip
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Postby es/pip » Mon Mar 29, 2010 11:48 am

M6Andre wrote:
es/pip wrote:Andre,

As far as your company and Dukascopy are concerned, how do they look at a customer once they are a customer? Meaning, if a person opens an account through you and then opens another account later, will Dukascopy still accept that customer as a referral from you even though they already had a previous account?

Example---- If I open an account using you as the IB and I therefore get the commission rebate. If I open another account 3 months later( still having the first account open) will they still let me use you even though they know I already am using them?

Ex2?if I open an account in my name and then at a later time open a new account that is a LLC incorporated in Switzerland. Will I still be able to use you and get the rebates for the new account? Knowing that I am a member of that LLC and already had a previous account.

Bank Guarantee

If one was to open an account with 250k and get the bank guarantee, and then take that account to 500k. How much of that account is guaranteed? Just 250k or the entire 500k.

I am thinking it would just be 250k.

If it was just 250k and a person wanted to insure the entire 500k under a guarantee, would they have to close the first account and reopen a new account for 500k. Then the same above would apply. Would they still let the person use you as an IB in that situation, since they know he was already a customer?

Is it possible to route their data through a 3rd party software like Esignal, sierra or whatever------ to get different charts.

Thanks


es/pip,

When a customer is introduced by any Introducing Agent, they are connected with this Agent. So, if the customer open a new account for a LLC, he will still be connected with the same Introducing Agent with the same Rebate program. Dukascopy is strict about this. You see, some traders find out about Molecule6 rebate offer and want to change from an IA the Molecule6 and it is not possible. The only way to do this is to go around and open a new account under someone else (Wife or close friend) using a new e-mail. This way they do not know but it is not an ideal situation for many traders.

For your information, at any time, you can ask for dividing your existing account in two or more. Let say that you have 50K, you can ask to split it in two, 20K in one and 30K in the second. Then the two accounts are in the rebate program and the two accounts total volume and total deposit is considered for the commission fee structure. Meaning you do not lose what you add with the 50K initial single account.

About the bank guarantee, if you start with a 250K, you have the possibility to secure 80% at your local bank. Meaning that you will send out 50K and luck in your local bank 200K with a bank guarantee. The bank is basically telling Dukascopy that the funds are there in case you lose it at trading. Then, as the account is growing and if you are not pulling out the profits, at any time you can ask your bank to modify the letter. So, when the account is at 300K, you modify the letter to 240K and leave only 60K at Dukascopy. You now have 80% coverage again. It is very easy to modify an existing bank guarantee. You can do this as many times as you like.

Sorry, I do not understand your question about "route their data through a 3rd party software"...

Andre


ok thanks

Sorry, I do not understand your question about "route their data through a 3rd party software"...


i am not sure how to exactly explain it, maybe someone who understands computers can chime in

do they offer any 3rd party charting software

ie--- is there a way to get esignal to connect to their data feed and display their data on e-signal charts---- sierra charts or whatever


thanks
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TheRumpledOne
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Postby TheRumpledOne » Mon Mar 29, 2010 11:52 am

MB TRADING is the broker I use to trade:

http://therumpledone.mbtrading.com/forex.aspx
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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M6Andre
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Postby M6Andre » Mon Mar 29, 2010 12:03 pm

es/pip wrote:i am not sure how to exactly explain it, maybe someone who understands computers can chime in

do they offer any 3rd party charting software

ie--- is there a way to get esignal to connect to their data feed and display their data on e-signal charts---- sierra charts or whatever

thanks


Not at the moment but I am studding the possibility to connect the JForex platform with different signal providers. I already am in the final testing stages of a JForex "copier". Meaning that a good trader could use the master and trade multiple slave accounts at the same time. The next step is to have it for signal providers...

Andre

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Postby altima » Tue Mar 30, 2010 2:33 am

Hi Andre,

Some people on Forex Factory are worried and mentioning that they are moving money out of Dukascopy because it is law for a broker there (according to Swiss banking Legislation) to have a Swiss Banking License. Dukas still doesn't have one (having applied on March 31st of 2009), they think that there must be some sort of problem. Could you address this situation please.

Thanks
Altima

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M6Andre
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Postby M6Andre » Tue Mar 30, 2010 9:51 am

altima wrote:Hi Andre, Some people on Forex Factory are worried and mentioning that they are moving money out of Dukascopy because it is law for a broker there (according to Swiss banking Legislation) to have a Swiss Banking License. Dukas still doesn't have one (having applied on March 31st of 2009), they think that there must be some sort of problem. Could you address this situation please.

Thanks
Altima


Altima,

Noting is official until it is made public by the Swiss regulators. So, all those discussions are really only rumours. I ask for regular update about this license issue so, here is todays discussion I just add with Raivis Zile :

[05:11:54] DC_FOS Raivis Zile: hello
[05:12:49] DC_FOS Raivis Zile: no we still expect them any time, but we can not be stopped becouse if we applied we are allowed to work, there is still questions in management which banking licence we will get, as for securities need additional licence as we also want to offer other products
[05:15:22] Gauthier Andre: Is there discussions about a possible date that the Swiss regulators need to take a stand and decide ?
[05:16:18] DC_FOS Raivis Zile: no as right now we do not need to do anything and finma studying our case
[05:16:45] Gauthier Andre: ok

Andre

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Postby altima » Tue Mar 30, 2010 5:37 pm

Thanks For the reply Andre. I guess there is nothing more they can do really, but it would sure put my mind more at ease if they had it. I'd hate to have them shut down and accounts frozen like FINMA did to Crown Forex.

Altima

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Postby Patch » Tue Mar 30, 2010 5:46 pm

The other night I went to the website and as I recall MB Trading has tighter spreads and ECN. I don't think Dukas is an ECN broker. It was late at night and the last thing I did. I think I took some screen shots of he pairs. I was going to do some spread comparisons, but just don't have the time. Maybe someone else with more interest could do this. jb
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Postby PTG » Tue Mar 30, 2010 7:21 pm

Patch wrote:The other night I went to the website and as I recall MB Trading has tighter spreads and ECN. I don't think Dukas is an ECN broker. It was late at night and the last thing I did. I think I took some screen shots of he pairs. I was going to do some spread comparisons, but just don't have the time. Maybe someone else with more interest could do this. jb


Dukascopy is ECN.

Spread varies; I have the impression that it is slightly better at Dukascopy.

But this is only one aspect of the complete package.

As for me, I just want to have the best deal, just like you should trading. And as is the case with markets, brokers evolve as well. Don't allow yourself to get stuck on one or the other just because you won't admit that your broker has a better alternative at some point in time. These guys have to perform, and perform well.

There are more than enough spread indicators and stuff on the web for MT4, so it would be easy to make a comparison I suppose.
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Postby newark18 » Fri Apr 02, 2010 1:10 am

Will there be more volume in dukascopy versus mb trading? I don't know if it is the time that I trade but I don't seem to be getting as much volume as I thought I would (I'm with mb trading now). Will opening an account with dukacopy help that?
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Postby newark18 » Fri Apr 02, 2010 1:21 am

is thursday night est a bad time to generally trade? absolutely no volume. or is it because of good friday tomorrow?
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