DukascopyDukascopy Swiss Forex Group

Stefan, FPA, 10/18/2009 ,

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 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 fixed 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.

Bonusland, FPA, 09/05/2009 ,

I've been with them more than 2 years but lately (past 3 months) I'm getting lots of slippage on market orders. This makes a mockery of their tight spreads claims.
I can see the price on the one click trading platform and sometimes this price won't change as I execute but I'm filled half a pip or a pip worse. (never better)
Today I had a 3 pip worse fill and it's too much.

Mouham, 07/27/2009 ,

Most providers quote with 0.1 pip precision nowadays and Duka is still 0.5 pips. I.e. they say they do publish hotspot prices, but if they really do, they alter them. That's not what i call STP anyways.


And they boast 100+ M liquidity on their website applet, but don't say at what spread. Last time I checked (1+ year ago, so might be better now) the inside markets nearly always were really thin, often even under 1M.

lame, 07/27/2009 ,

I personally have never traded with duka. But I work in the industry and I do like their business model. I also hear rumors their business model isn't what it appears on the outside from people who have worked there. But, I can't say unless I was actually on the inside there. Yes, duka is applying for the bank license, but still they are not regulated at the moment and it is risky to trade with them.

Vorve, 07/27/2009 ,

Also a Dukas client and would like to hear recommendations of people who were with Dukas and have switched.

My problem with them is their quotes. I use MT4 and Dukas prices vary from +/- 5 pips (bid price) from what my charts are showing.

Jonhnatan, 07/27/2009 ,

Tried them out in early '08. No slippage on the few orders of 5-10M I did. I was concerned about the inside book depth, if you search these forums, you can find details about it. Perhaps they fixed that issue by now, who knows. I might give them another test whenever their bank license gets approved.

Censor, 07/27/2009 ,

I would only trade with brokers in Switzerland that are listed on the FINMA site. To check to see if your broker is licensed in Switzerland, go to www.finma.ch and then go to institutions and type in the company name and hit search. FINMA is the regulator in Switzerland for all financial companies such as banks, brokers, asset managers, funds, etc.

Dukascopy is not licensed in Switzerland.

Jass, 07/27/2009 ,

I consider them as an example. They have only one datafeed for all their clients. A very good example of full transparency and honesty in the industry. who else do the same, no one. I hope the industry will follow them.

MiniShred, 07/27/2009 ,

Keep in mind that they were a dealing desk from '03 - '06:

http://web.archive.org/web/*/http://www.dukascopy.com/

I'm guessing that the "transition" from DD to ECN was more or less a re-dressing of the frontend, and little changed in the backend.

Also, check out their site from '00 - '02 if you want some laughs.

A.Grant, FPA, 07/27/2009 ,

Dukascopy slipping a pip nearly every trade on the "one click" manual execution (orders are fine). Execution speed , platform and customer service is excellent. I'll stick with them for another few weeks but if things don't improve i'm off.

Trader, 07/27/2009 ,

I recall times with Dukas, over a year ago, where the word 'slippage' was rarely heard in my office, where a stop loss got filled even in a hectic market, today, I can count the trades where I don't get slipped on one hand. No matter if it is a stop entry order or a stop loss order.

I get slipped on market orders with off market quotes, prices not seen neither on the Dukas live client price terminal, nor on their charts. It's frustrating to say the least.

Kiado, forexfactory.com, 07/27/2009 ,

OK here are my reasons why to believe they may be MM with all the negative consequences:

1. you get filled on pending orders far away from the market (11 pips) you cant see the filled price nether on their charts or on any other platform(other ecn or mt4 charts)
2.slippage on SL stop entry orders every time from 2 pips to 10 pips even in the most active trading session (London)
3.filled market orders which you never transmitted
4.slippage is never to your advantage

Forex trading is in Switzerland not under any supervision of any governing body

Milen, 07/27/2009 ,

This is a Excellent Broker, I have been trading with them for the past 5 months, and it´s like trading on demo, execution time is max 0.4 second, same performance as demo account, better than expected.

I don´t scalp !

Stop Loss and Take profit and pending orders very accurate so far.

I recommend Dukascopy. I´ll give them 4 stars because process to open an account took me 3 weeks.