DUKASCOPY or MB TRADING ???

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jz166
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Postby jz166 » Fri Apr 02, 2010 4:53 am

I don't get it about MBT commission.
According to: https://www.mbtrading.com/commissions.aspx?page=Forex
and take EUR/USD as example,
A round trip for 1 standard lot (euro 100,000) costs you $7.8 as commission.

On the other hand, I pay around $5 for round trip of one CME future 6E (euro 125,000). And the margin for my daytrading is $500.
MBT just doesn't make any sense.

Do I really need spot market, or I miss anything? Of course unless I wanna trade pairs like EUR/JPY, GBP/JPY...

Any other decent spot FX brokers out there?

I admit sooner or later I will open a spot account. :smt033
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adaseb
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Postby adaseb » Fri Apr 02, 2010 7:50 am

newark18 wrote:is thursday night est a bad time to generally trade? absolutely no volume. or is it because of good friday tomorrow?


By Thursday night are you referring to the following days London session? Or are you referring to the Asian session?

For me I try to avoid the beginning of the Asian session and instead trade a few hours before London open.

However not tonight because most banks are closed because of the holiday.
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Postby PTG » Fri Apr 02, 2010 10:43 am

It is Easter weekend + Good Friday.

If you look at a calendar of events, e.g. at ForexFactory http://www.forexfactory.com/calendar.php you can see what's going on.

You should always check the news to know what is going on before trading so that you know when to stay out or not, depending on you trading style.
There's no business like [strike]show[/strike] covid19 business.
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newark18
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Postby newark18 » Tue Apr 06, 2010 4:18 pm

I would like to pose this question again. Will I be able to access different or additional liquidity if I have an account at dukascopy? Thanks.
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M6Andre
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Postby M6Andre » Tue Apr 06, 2010 10:04 pm

newark18 wrote:I would like to pose this question again. Will I be able to access different or additional liquidity if I have an account at dukascopy? Thanks.


Newark18,

At Dukascopy you have access to an enormous liquidity. You do not choose the liquidity, you just have all of the liquidity providers available at any giving time as you trade... You can see the available liquidity when using the "Market Depth" option on the institutional JForex platform (Live or Demo) at Dukascopy.

Andre
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newark18
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Postby newark18 » Wed Apr 07, 2010 12:20 am

What are the methods available for withdrawal? Ideally, I would like to have an ACH setup. I tried searching dukascopy's website and emailed the but could not find an answer. Also, if I have a joint account with my wife, do I need to open a jpoint account in order to have an ACH setup? There are certain brokerages that won't allow it unless the account and bank account names match exactly. Thanks.
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M6Andre
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Postby M6Andre » Wed Apr 07, 2010 10:53 am

newark18 wrote:What are the methods available for withdrawal? Ideally, I would like to have an ACH setup. I tried searching dukascopy's website and emailed the but could not find an answer. Also, if I have a joint account with my wife, do I need to open a jpoint account in order to have an ACH setup? There are certain brokerages that won't allow it unless the account and bank account names match exactly. Thanks.


Newark18,

Dukascopy accept only funds via bank transfers and will do only bank transfers for withdrawals (No fees for withdrawals). So, if your ACH bank account can do bank transfers, it is ok to use this bank account with Dukascopy. Also, I did ask about the fact that the bank account is under 2 names and that you want to open an account for yourself. So, it is OK to open an account for you and use the ACH joint account if your name is on it.

Andre
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newark18
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Postby newark18 » Wed Apr 07, 2010 12:42 pm

M6Andre wrote:
newark18 wrote:I would like to pose this question again. Will I be able to access different or additional liquidity if I have an account at dukascopy? Thanks.


Newark18,

At Dukascopy you have access to an enormous liquidity. You do not choose the liquidity, you just have all of the liquidity providers available at any giving time as you trade... You can see the available liquidity when using the "Market Depth" option on the institutional JForex platform (Live or Demo) at Dukascopy.

Andre


Andre,

Is the liquidity that is accessible through dukascopy the same or different than what is available at mbtrading? Sorry for the questions, I just want to understand the benefits of different ECNs. Thanks.
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M6Andre
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Postby M6Andre » Wed Apr 07, 2010 1:32 pm

newark18 wrote:Is the liquidity that is accessible through dukascopy the same or different than what is available at mbtrading? Sorry for the questions, I just want to understand the benefits of different ECNs. Thanks.


Newark18,

The brokers have multiple relationships with banks (Liquidity providers) all over the world. So, it is possible that a bank will work with both brokers but it is certain that they do not have the exact same liquidity providers...

Andre
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newark18
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Postby newark18 » Wed Apr 07, 2010 1:34 pm

Good to know, thanks.
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