Dukascopy 

Category: Forex Broker Reviews
http://www.dukascopy.com
Average user rating from: 23 user(s)

Broker Rating
3.4
 
Dukascopy

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User reviews
Thursday, 01 October 2009

Written by Stefan from Germany

I use this Broker some months now and near all is ok. If you use marketorders with slippage allowed you get often with slippage filled, but thats normal in many ECN brokers because so maximum lots at the market can be filled, so be carefull not to do high slippage as default value.
a good thing is the fast and competent help with skype contact inside the broker plattform.
like all ECN you have to take in consider that you pay a commission per for each trade, on the other hand there are bether Spreads then near most other brokers. ( with "molecule6" website i avoid a lot of the commision).

at the beginning there was some problems with filling out the application form (or using bank guaranty instead of money transfer) and get many questions for plattform and how to place orders best way. But i used "molecule6" website as introducing broker to let me help with application and clear all questions with plattform. So i get also 43% of my commisions back through molecule6 , what can be really a lot after some weeks.

After starting trading i missed sounds when orders are closed or new pending orders opened, but i got one expert file from my introducing broker to have this sounds now, so trading is just fine.
and one think is to mention at last: sometimes my orders are only partially filled because of to less orders in the market at this prices. It happens only if a got the entry exactly, so not very often. But sometimes it was happening, but i think thats a problem of all ECN brokers, because they are no marketmakers and are not the counterpart of the trades. And dont have the broker as a counterpart of the trades is a very good thing on the long hand.

I like dukascopy very much and can good trade with it. if you need help in opening or plattform questions or you like to get very high commision rebat i would recommend molecule6 as a combination because very fast support and help.

At last here are some sentences about for what people this broker is wrong:
- The opening amount for an account is 10000 USD now, so if you dont have this amount offcourse you cant use this broker
- till 50000 USD are on the account your commision will be 36 USD per trade, from 50000 USD is will be 18 USD per trade (there are also possibilities to decrease this fees if you trade a special trading volume, but then you need to trade a lot each day) -> best here is to use introducing broker like molecule6 for getting many of the commisions payed back
- at newstimes spreads are much bigger then in normal trading hour, i just mention it for people who have only traded with fixe spreads with marketmaker brokers till now
- the minimum trading amount per trade is 100000. and very very important: 0,1 lot in dukascopy are this 100000. i say this because in some other brokers (many marketmakers) there is 0,1 lot only 10000 value. so if you never ever want to trade this 100000 amount this broker is also not the best choice.
Wednesday, 09 September 2009

Written by Enrico from United Kingdom

I think Mrs Gomez wants to attract attention to herself and nothing else. I have traded and are tradign with Ducaskopy and I also visited their offices in Geneva and talked to the people there. They are NO SCAM and they have one of the best platforms although they are a bit pricey
Thursday, 20 August 2009

Written by John Schugenham from Australia

Excellent broker. Quality feed and excellent platform. If you don't want slippage, then find a bucket shop who re-quotes.
Wednesday, 08 July 2009

Written by Robertas Jackus from Lithuania

I work as an IB with them and I have never heard complaints from my referred traders about Dukascopy.

I just wanted to notice you, that you can register through us at ForexTradingChoice dot com and get 40% rebates of commissions charged by Dukascopy. Lower your trading costs.
Tuesday, 16 June 2009

Written by M. G from Malaysia

I have never seen such a tool for manager in other brokers. They have launch a new PAMM. They allow clients to protect their investment. very good concept.
Regarding slippage, I have no complain, as the one I have is due to technical ping delay, about 400ms, meaning I really appreciate their transparency and quality in datafeed.
Does anybody know if they have a rep. off. in Asia.
Friday, 05 June 2009

Written by Halosmile from none

What upset me the most was I was promised to be able to renegotiate my lot sizes once my account was funded, I placed the minimum amount of $50,000. When I asked again I was told it would need to go through management, time went by, during which I noticed that I suffered many non-executed trades - even during normal trading. By the time they got back to me and said it was possible to change my lot sizes to smaller ones...if I increased my account by another $50,000, it was too late, I closed my account, without any problem, and moved on to another broker.
Monday, 20 April 2009

Written by Paul from Switzerland

I have follow their datafeed for last 3 years, very good quality. Unfortunately they do not allow minitrading. Does someone know if they have some WLP using their technology and allowing mini?
Monday, 02 February 2009

Written by Bran from Switzerland

Dukas's "SWFX-centralised-decentralised marketplace model" is a gimmick. They needed some sort of hook to attract people, all the big boys do it, "It's the real thing"-Coke, "Probably the best lager in the world"-Carlsberg, "Zoom, Zoom"-Mazda etc. etc. etc. Problem is KATIE from UK, that they certainly did invent the term SWFX, but sadly they are not, as they like to claim, the inovetors of this idea (A friend of a friend told me his buddy called Raivis works there and told him so, that new traders are gulible to this!) . If you use any broker that claims to be an STP or NDD broker, then they will all have various liquidity providers and are therefore all in their own "market place". What gets me is Dukascpy's Slippage setting, this is from a broker who claims to be feeding their live platform real price quotes...from their "market"? Then why do I read time and time again of failure to be executed, even with conservative "slippage" settings? To me it is either slow platform execution or low liquidity.
Tuesday, 27 January 2009

Written by tom wilson from USA

I disagree with the previous post, I trade with AMI FX, a US based FX firm (better than Swiss given the issues over there) and they show me the full level 2's of the interbank market, so I guess Dukas is not the 'only broker to offer this feature'. And I know there fees are considerably lower and their IT dept is much more responsive than at Dukas. I understand you are in Europe so a Swiss broker may be desirable.

And you do not need 50k to open but you do need to do some decent volume, say over 400 million a month, in order to receive the raw spreads.
Friday, 05 December 2008

Written by katie from United Kingdom

To any person who has read the "scam" review by Mrs Gomez you must to ignore what has been written.


I have an account with Dukascopy, for over 4 years. If you want to trade as close to true fx market prices , you will not find another broker who caters for retail community as professionally as these guys.

They are very professional, account managers will exceed your expectations it is like premium service.
There are different account classes, determined by your available capital.

Search their news column and you will be overwhelmed with their rapid development within 10 years, The liquidity is displayed in an level 2 type display, the only broker to offer this feature, you an get a feel of the interbank market, ( remember this is the swiss market place that has been pioneered by dukascopy) and although the liquidity is still only a fraction of the EBS/Thompon Reuters etc. It allows you to see the list of available prices and sizes.

Their platform is robust, execution is lighting quick, easy to navigate around, and is web/ desktop based.

You need $50000 to open an account, this will deter the majority of retail traders.

Withdrawals are extremely efficient.

You will not find another fx broker like Dukascopy.
Wednesday, 12 November 2008

Written by Monty from none

I have read the previous client who rated this as a scam but I really say you should try the demo first and if you are happy with them go ahead "live", they have reduced their lot size to 100K per trade and you could beg them to open an account with 25,000 instead of the usual 50,000. I have not had any problems withdrawing my profits so I would definitely give these guys a chance. I am NOT giving them 5 stars because they do charge commission each time for buy/sell so you pay twice, once to open the position and once to close the position.
SCAM
Monday, 15 September 2008

Written by Mrs. Gomez from USA

I'm writing to let you know that this is a smartest company between all of them out there. For me they are an SCAM company. Why?

A- SWFX-Swiss FX Marketplace is not a real open market place, where there are many participants. SWFX-Swiss FX Marketplace is an intelligent manner to attract you as a client, they conduce your mind to thinking that you are going to participate directly through interbank with the use of that name. The true: SWFX-Swiss FX Marketplace is the name of the Ducaskopy platform in a dishonest intent to betray you, making you to think in the Swiss forex market.
B- I inquired Ducaskopy many questions. I didn't receive any answer. Why? Ducascopy silences demonstrate me that the company doesn't want to talk about things that discover the true: Ducascopy is a SCAMMER that use the good Swiss reputation to undercover its fraudulent activities.
Make your own judgments. The questions were directed to Dukascopy as follow:

After carefully reviewing the MARKETPLACE TRADING AGREEMENT I have some questions for the HEAD or PRINCIPAL CHIEF in the COMPLIANCE DEPARTMENT or to the Dukascopy's redacting "MARKETPLACE TRADING AGREEMENT" legal body. Please forward them my questions:

1- Could you enumerate which companies are Dukascopy's "PARTNERS" that are going to act against "ME" as "COUNTERPARTIES" (in opposite direction to MY open positions)? Please, do not enumerate the companies that ARE NOT Dukascopy's PARTNERS.

2- Could you explain me, what ECONOMIC or MATERIAL INTEREST Dukascopy has with those mentioned "PARTNERS" that act as "COUNTERPARTIES" for Dukascopy clients, like ME?

3- I rather not open an account with Dukascopy and its "PARTNERS" if in our regular basis opening position Ducascopy partnership with the "PARTNERS" has a "CONFLICT OF INTEREST" with my OPENING POSITIONS. I don't want Dukascopy to act as the INTRODUCING BROKER for Dukascopy's "PARTNERS" in detriment of "OUR MUTUAL OBLIGATIONS". I want to clarify IN WRITING Definition-Interpretation of terms (1.e) of the Dukascopy's MARKETPLACE TRADING AGREEMENT as well as items (3.2.5; 3.2.6; 6.1.2; 8.1.1; 8.1.2; 8.2.5 ; 8.2.6; 8.3; 8.4; 9.3; 13.4; 13.5; 15.1.6) related to a possible "CONFLICT OF INTEREST" between Dukascopy, its "PARTNERS" and MYSELF, because Dukascopy could be tied to a "CONTRACT" that represents the "PARTNERS" in first interest "IN THE OTHER COUNTERPARTIES SIDE CONTRACT"; and (ME) as a costumer TO BE REPRESENTED in second place.

4- When there is an interruption of my communication between SWFX Marketplace Trading System and considering "ME" as a Ducascopy "Client";and once I have informed for other means of communication (electronic mail or by telephone or others) to Dukascopy's Clearing Desk that the item 8.2.1 has happened; I have the right that Dukascopy has to apply item 8.2 to my "COUNTERPARTIES" in all my opening positions. Is that right?

5- Overnight fees are considered as a "REMUNERATION" fee to be payed to Dukascopy for services under this MARKETPLACE TRADING AGREEMENT or are the regular fees that are payed for concept of adjust of interests for token an overnight carry position? Part or total amount belongs to the "COUNTERPARTIES" or to Ducascopy only? I want to clarify IN WRITING Definition-Interpretation of terms (1.p) of the Dukascopy's MARKETPLACE TRADING AGREEMENT.

6- I want to notify before I enter in a MARKETPLACE TRADING AGREEMENT, where Dukascopy may record and/or protocol all telephone conversations, Internet conversations (chats), and meetings between the Client and Dukascopy Suisse (item 12.3); that in my case I'm informing Dukascopy to agree and let me have the same right on my side of rights. Equal right is demanded; letting me record and/or protocol all the above mentioned communications.

7- I need a WRITING WARRANTY that if Dukascopy Suisse have to exercise item 23.2, I will be advised in advance 7 days before. I'm doing business with Dukascopy only and with no one else.

8- I'm notifying Ducascopy that I may/or may not record all of my TRADINGS SESSION to have evidence to any party, since Dukascopy has this right estate in item 12.3. I consider that we both have equal rights to do so. Right?

9- Does Dukascopy in some way have a "PARTNERSHIP" with "FXCM" and/or "FX Solutions LLC"?

Please, remember to forward this e-mail to be answered by the HEAD or PRINCIPAL CHIEF in the COMPLIANCE DEPARTMENT or to the Dukascopy's redacting "MARKETPLACE TRADING AGREEMENT" legal body.

Sincerely,
Mrs. Gomez
Wednesday, 25 June 2008

Written by Christine M Brown from United Kingdom

They just lowered their commissions and with the small spreads this broker is extremely competitive. I have an fxcm account which does not charge commissions but overall my cost is much lower with dukascopy. Their customer service reps are very friendly and helpful and if you have 50,000 or more to trade with I would recommend dukascopy.
Thursday, 19 June 2008

Written by JJ Chow from Taiwan

Let me firstly say that you must have 50,000 USD just to invest in this broker, but once you do - you will not be disappointed. Very fair prices, you have to pay commissions but you really get the true interbank market rate, the same rate the big hedge funds are getting, and they trade 100 million dollar lots at a time. Thank you dukascopy for such a great trading environment.
Tuesday, 17 June 2008

Written by Sanja Kehma from India

This is really a good ECN platform, and very professional, very similar to what banks use and although I have experienced slippage the spreads are great. This platform is very good for the professional and active traders and scalpers, not great if you only trade a few times in a month and you hold on to the positions for a long time. They are registered in switzerland and I opened a 500,000 USD account with them and they also provided me a "surety" bond from the swiss bank so it is a guarantee my funds are safe, they may not have the lowest commissions but the funds are guaranteed and in these times where brokers are robbing clients blind it is best to stick with the swiss!
Thursday, 29 May 2008

Written by Ajeet Patel from Turkey

This broker has the most beautiful workstation I have used, and to top it off all their spreads have become tighter, today i traded eur/usd paid 0 pips, sterling/usd paid 1 pips, and aus/yen paid 2 pips, this has to be the cheapest broker in the industry and to make it work backed by swiss industry the safest place to put your money.
Tuesday, 20 May 2008

Written by pip hungry from Canada

They claim they are an ECN broker, but the spreads widen, I have seen spreads on GBP/USD go from 0--6 pips in second, I contacted them and they blame it on liquidity, 6 pips is out of line, plus you have to pay commission each time you buy a position and also when you sell it. I definitely think there are better brokers out there.
Thursday, 15 May 2008

Written by Rudy from Belgium

This only thing these guys have going for them is their "pretty" platform, the spreads are large plus you pay commissions, plus they offer no mini lots, minimum size of 250K per position. Why would you chose them??? I have seen 4 pips spread on GBP/USD plus you pay commissions, other brokers give you half that and allow mini lots. Minimum deposit is 50K, if I had that kind of money I rather put it through an Instituanal broker instead.
Monday, 03 December 2007

Written by l00ser from Czech Republic

Hi to all fx traders!

first to Jack post: Jack wake up, Dukascopy is interbank ECN broker, he does not create prices ( like DealingDesk brokers do - he only provide traders with platform and real market price feed ), so what you see(click) is what you get. I mean if there is high volatility on market, than it is 100% normal and fine, that there may be no one, who is willing to buy/sell your contract at price specified by you. Instead you get filled at nearest price offer available. This is real market, not some scam dealing desk game. If you want your stops/limits to be honored everytime, go and find dealing desk broker(market maker), but be not surprised by wider spreads/re-quotes/and other DD broker funny things :-)

So far I am pretty satisfied with Dukascopy. Platform is fine,stable. Free analysis are although good. Trading news and scalping is possible. Seems that swiss interbank marketplace has some fine liquidity to trade with. Customer service - fine - no problems so far. I agree, that min lot sizes/ min account sizes are to large for beginning trader, but hey, this large ECN is not here for beginners nor for traders with few bucks. If it were, than so important liquidity would be much smaller, and that would definitely not be good for all of us trading with DC.

Wish all best luck with trading !!
(sorry for my english, I am not native)
SCAM
Monday, 12 November 2007

Written by Jack from United Kingdom

i have just gotten slipped on my GBP/JPY trade by more than 20+ pips, this is bullshit i know they do not promise stop losses but i am taking my money to another broker, with the minimum lot size of 250k i just lost $500 or 250 sterling which just pisses me off
Friday, 09 November 2007

Written by simon from Hong Kong

I am giving them 4 stars because their platform is the best out there. fast execution and they are not a market maker so they don't trade against their clients. The only drawback is that they charge commission and minimum lot size is 250K per contract. I have other brokers but I use them occassionaly. If they would allow mini lot size I think this will definitely be the best broker in the world
Thursday, 08 November 2007

Written by Rakesh from India

very nice platform but lot size is very big, 250k is minimum lot size so i cannot hold too many positions, if they allow mini lot i would rate this 5 stars, otherwise the broker is good and customer service very nice and helpful
Tuesday, 06 November 2007

Written by Helio G from Switzerland

Firstly, I want to say that I think Dukascopy can do better. I think they might be one of the best and I am giving them 4 stars because there is room for improvement. I am interested to see what they have to say to their customers and the many others that are looking for the best a broker can give.


 
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