Dukascopy Forex Broker

[marc walton]

My Recommended Forex Brokers - Dukascopy

My main account is with Dukascopy. They are an ECN (Electronic Communications Network), meaning they are an Interbank intermediary. They make their income from a small fixed commission, NOT from your losing trades. This is how brokerages in the Stock, Commodities, Bonds and Options markets work, and it is about time that all Forex brokers went the same way.

Dukascopy are a Swiss registered broker and are simply awesome to trade with. You used to require a minimum US$50,000 to open an account with them. However, they have just dropped the minimum to US$1,000, and now offer microlots which I am sure will see lots more smaller traders flocking to them.

Spreads are some of the smallest in the industry. I have seen spreads on EUR/USD that are as low as 0.5 pips. Orders get filled 99% of the time at (or very near) the price you requested. In addition to the amazing spreads and fast execution, their liquidity is second to none.

One of the best parts for me is that you get level II information, so you can see what the “big boys” are up to. The Dukascopy Level II market depth screen shows quantities (in US$ millions) of orders that are sat there waiting to be filled (limit entry orders). Those of you who trade without level II are really flying blind. You have no idea where market sentiment lies if you cannot see where the institutions are putting their money.

With level II data, you can see all the forward buy & sell orders that have been placed. Supply and demand is driving price, so you can gain a much clearer picture of where price is likely to go next. This really helps with confirming other clues you may be getting from other places.

The only real downside I have encountered with Dukascopy is their account opening. It takes a while to get all your paperwork in order and the account opened. This is due to extremely strict Swiss banking/money laundering rules. It took over three weeks when I joined and I know people who have had to wait up to ten weeks.

The only other drawback is their lack of a MetaTrader 4 platform. Their own charting software has always been poor. Personally I do my analysis on metatrader & then place the trades on Dukas - order placing is VERY simple.

As the biggest European broker, Dukascopy continue to innovate and are clearly interested in offering their services to as many retail traders as possible, which is fantastic news.

Dukascopy Services Summary:
-Largest ECN, with the highest liquidity.
-No Dealing Desk Execution.
-Currency Investment with Capital Protection Option.
-100% Segregated Accounts with Swiss Private Banks.
-Very low spreads.
-Range of trading platforms.
-Minimum account size US$1,000.

If you would like to know more or open an account,

Click The Following Link NOW: DUKASCOPY

By joining through this link you will automatically receive a monthly rebate equal to 35% of your commissions paid. This will be deposited directly into your Dukascopy trading account between the 10th-20th of the month for the previous month's volume.

If you are currently using Dukascopy, please share your experiences with the Forex-FXTrader community. Looking forward to your feedback.

[raa]

Hey, Marc

According to Dukas, they have now lowest deposit from 1,000 only, and smallest lot 1000, i.e. microlot, 0.01. This looks extremely tempting to get onboard with them. What bothers me, how the hell I can get my passport notarized, AFAIK passports CANNOT BE NOTARIZED (at least here).

[raa]

According to Dukas, now they are good to take you onboard starting with 1,000 depo and with lots from 0.01 (1,000 units). Fantastic!
http://www.dukascopy.com/swiss/engli...39;;?ibref=615

But how on Earth I can get my passport notarized (it is not permitted here in CZ).

[raa]

Now trying to open an account with them. Need to get a passport notarized by some official, hopefully my bank manager can do this. New rules with min 1000 USD account and 1,000 units lot are awesome. Love their Dukascopy TV, morning and mid-day emails, a fantastic professional feeling. However, the beta MT4 is not working for me - was able to open a trade on demo but it would not close under any circumstances, alsways Off Quotes. But as far as MT4 can be used for analysis on the same price feed and tracking open position status, this is all I need. BTW, they had called and offered assistance in doing documents. Nice.

[raa]

Ducascopy is now offering MT4 trading platform in a production, after running beta-testing for last 6 or more months! On top of that, they allow accounts from 1000 usd and trading lot from 1000 base units (0.01 - i.e. micro-lots!).

[LEIGH58]

I took Marc's advice and opened an account with Dukascopy and let me tell you, I am working as hard as i can to make this account my primary account. I am a beginner ( fell off the turnip truck yesterday) and have not 'earned the right to trade bigger', so I use Dukas as my secondary account. The good thing is that they have rather recently lowered their mimimums , so my advancement is coming along--save for the steps back I take due to beginners trading psychology (READ: lack of discipline)

If you make a trade in an account that takes the spread at the same time as making a trade with Dukas or some other ECN, you will be amazed at how the other guys--- the spread takers--- take advantage of their set -up. It is disgraceful ( but that's their business take it or leave it) when you can see for yourself how your broker increases the spread at will and alters the data feed at will and they can come to their own defence all they want but it doesnt change the obvious--- they are manipulating the playing field. Just open a Dukas account and make the same exact trades along with a spread taking account and you will see for yourself. Open a Dukas demo . 'nuff said.

A few months ago I tried the beta version of the Mt4 that Dukasscopy offered.....PATOOEY! <spits out the unpleasant experience> . Best to do the analysis on mt4 and then trade Dukas with their jforex platform. That said.... even their Jforex platform is unstable and I like to think i have a pretty hefty computer capable of managing things.

SO..... I would like to put in a plug here for Marc for all the time and attention he has patiently given, by saying if you click on the link he offers he may get some little discount on something and so , why not? And thanks Marc, for steering me in the direction of Dukas.

PS: USA traders, Dukas is a Swiss account so we are free to trade without all the USA restrictions......hoo rah!

[vrstrader]

Of course this is a great broker and everything, high execution speed but it is expensive for smaller traders like myself. Commissions are VERY attractive starting only from 50K deposit. Can't afford this :/

[atletrader]

I can see this is the best. Last night I placed a trade with gbpnzd with a 20 pips spread. Today this spread was the same, and Dukas has 7 pips.

I already have an account with Dukas. Is there no way to join the Aslan rebate scheme? Or do I have to register a new account?