I’ve been trading with Dukascopy for a while now and I have to say that on many occasions I see slippage taking place.

Apart from that, however, I am quite happy with everything else about this broker so I give them a steady 3-star rating.

Valerie 06/25/2012

(0) (0)

Ask Dukascopy customers service to set the demo account initial capital to $1,000 instead of $100,000 and you will see how expensive is to trade with this broker with account smaller than $5000.

Trading during news times ends up with 4-6 pip spread (commission includedd) + 5-10 pips slippage.

Dukascopy released very good iPhone app and their java based JTrader platform has a lot more feature than Oanda's and more user friendly.

Broker as bank it is tentative, but not with that price + bureaucracy.

Zabi 03/09/2012

(0) (0)

If you want to open a managed account, Dukascopy Bank is the best choice. They use PAMM system and capital protection is available. After I opened my managed account (managed by Perfecto FX), the personal manager called me within a few hours. He let me know the all necessary details about the account. I compare with other brokers and the spread and comission are very low. They are ECN broker which the best type.

Alex 01/31/2012

(0) (4)

I used to have an account with them until I found a reputable UK FSA registered company offering ZERO spreads, yes ZERO spreads and choice prices, so I switched. You can contact me at faz@cityglobalfx.com or call me, 0044 (0)7525534112 Regards, FazHussain

FazHussain 11/18/2011

(27) (0)

Hi i have just read a lot of the posts on Dukascopy.

I have been with them for 4 months and i really have a problem with there slippage. I just read the post from Andre Duka.......i have inccured slippage on 4 seperate occasions now, and everytime all the "support' says are 'market conditions', this is frustrating when the market is normal and on each occasion i would have had enough time to manually close the postion!!!.

I feel like that is all the 'support' has been told to say. This = no refund, because it will always be the market conditions.

I dont normally post but frustration has taken over this time.

Nick, FPA 10/25/2010

(1) (4)

Dukascopy stands above all Brokers.

I wish to clarify the many questions about whether they will impose the new CFTC rules. The new CFTC Rules. do not apply to banks. Dukascopy is a bank & should be ok until 6/2011.

The one thing you should be aware of is that Dukascopy will change it's leverage requirements based upon time of day or day of week and market liquidity. Usually just on Friday a afternoon...

Alex Findlay

Alex Findlay, EarnForex 10/19/2010

(0) (1)

I think the Dukascopy is one of the leader in fx market & they are 100% transperent.

They are no.1.

Only disadvantage is high min. deposit and complicated account opening process but still OK !

Akshay, EarnForex 10/03/2010

(0) (5)

Everything, including the reviews looks good on Dukascopy, including the scaled down min to open an account from $50K to $1K.

The only problem now is that opening an account requires notorized docs being sent via DSL or UPS or something. That's a serious pain and expense where I live, not to mention the delays involved. While I can see such paper documentation being reasonable for corporate & high value accounts, it's very much out of the league of common practice among forex brokers for individuals.

Glad to see they brought minumum opening balances down, but I'm very inclined to look elsewhere until they dispense with the heavy handed bureaucracy. Maybe next year?

Duck, FPA 08/29/2010

(0) (0)

I've been on demo with them for a while now so i've opened live.

My account manager is always prompt to answer my many questions. He called me a couple times just to know my feel about the software and to announce me they had their banking licence. So for me customer service is as i expected.

The process to open my account was faster that i tought it would be. Took a week after shipping documents.

Execution is fast, limited slippage by settings.

Great plateform, Jforex.

Commissions are expensive. This is not something to bother with on wining trades but on losing ones, oh it hurts! But as i like to say quality as it's price.

I can not say anything against them.

L-A-T, FPA 08/27/2010

(0) (2)

I am a client of Dukascopy since FEB 2010. During all these months, I have experienced very good spreads (0.5-1.5pip for EUR). In addition, their execution was of lightning speed and flawless. When i use market orders, I experienced 0 to 0.5 pips of slippage, thanks to their slippage control. Their customer service was good and showed a great deal of patience to solve my problems when i contacted them through skype.

I seriously recommend this broker to novice and professional traders alike. Do not be duped by other US bucket shop brokers again.

however, akin to a double edged sword, this broker have its disadvantages as well. One major problem was their commissions. their commission is a little higher than other ECN brokers (USD 32/million traded for a USD 10,000 deposit)= USD 8.50 in and out. Fortunately, I was aware of a introducing agent which offers me rebates of 45% off my commissions generated monthly.

Hence, I hope that dukascopy will lower their commissions further to remain competitive in the retail FX market.

Anonymous Trader, FPA 08/06/2010

(0) (2)

These guys are excellent.

Unbelievable staff, the platform is quite nice as well.

Jake Neight, GoForex 08/06/2010

(0) (1)

It is really a pleasure to trade on this ECN.

Really solid execution, haven't had a complaint yet.

Besides, they are a bank as well now :D

George-ous, GoForex 07/30/2010

(0) (3)

Dukascopy keeps on surprising me.

Constantly improving execution and at the same time lowered minimum requirements while offering ECN trading to everyone.

As a matter of fact, they've become a bank and now all the deposits are in safe Swiss hands.

Henry, EarnForex 07/30/2010

(0) (2)

I'm a new trader and initially I was really hesitatant to join them.

Eversince they have become a bank, the deposits up to 100 000 CHF are safe. So for traders who invest less than 100K, this is a safe place to trade.

Harold,ForexRealm 07/28/2010

(0) (2)

Hello,

Good execution, spreads corrects, however, their customer service is bad. Once your account was opened and money was deposited, they just ignore you.

Sometimes, they can have poor liquidity, in such case, Dukas play against users (especially small account)

15. conflicts of interests

The user understands that the business model of the SWFX Swiss Forex Marketplace consists in ensuring best execution for the transactions of the Users and matching the transactions between any of its Users or Counterparties, each trade being instantly hedged with a countertrade. In that respect, on the SWFX Swiss Forex Marketplace, Dukascopy is counterparty of each trade and counter trade, In some circumstances, Dukascopy may not hedge entirely or may not hedge at all certain trades, In such cases, Dukascopy may have opposite positions towards Users.

Risk disclosure and acknowledgment

Easy for them to move the spread far away from your entry point. Right after, volatility will often goes down... not very fair. I've asked them about this matter, they never reply.

Beware.

Tonio, FPA 07/20/2010

(0) (1)

I read through a few of the reviews posted about Dukas.

My guess is that most of the folks that feel frustrated, don't understand how a true ECN works. It's not like a US bucket shop. Instead, it's a small interbank were orders are matched up based on price and volume. If you are trading during slower market hours, the volume won't be there to fill your orders. Post news can be an issue too if liquidity pulls out - and that's usually what happens.

I've been using Dukas since May 2008 and they've been fantastic. Really the only option for larger account these days.

Sean, FPA 07/06/2010

(0) (3)

Advantages

The company is resident in Switzerland and ARIF is regulated. There is front-office, address is indicated.

Dukascopy Suisse is a broker for the wealthier and financially competent type of client and offers a wide set of services, including different partner programmes.

Many various and high-quality fundamental support is provided.

A perfectly done site with detailed information all at hand.

Disadvantages

A surprising absence of information about key term-of-trades on the site – spreads, overnights, commissions.

fx-reviews.com 06/27/2010

(0) (5)

Now they are a Swiss Bank, congratulations!

The best exe with a Swiss Bank security.

I was waiting to get the security of Swiss Banking Industry, now I can recommand them.

Pascal, FPA 06/25/2010

(1) (2)

A couple a years ago this really wouldn't be my first choice for an ECN broker.

But now the things have really improved, the liquidity is much higher than before and no problems getting executed.

Dave, EarnForex 06/03/2010

(1) (1)

Finally I got my MT4 strategy converted to Java. To be quite frank this was a horrible experience but now everything is working fine.

Bye bye bucket-shops

Joshua, ForexRealm 06/01/2010

(0) (3)

What can I say. This is a respectable Swiss ECN with solid customer service.

The rest is not that important to me as I am a long-term trader.

John79, GoForex 05/29/2010

(0) (0)

I’ve been trading at them for half year. And since then I had no big problems, all other was fastly resolved by Dukascopy support. Yes, the technology they use is quite difficult, but after few days you can enjoy the data that is available. The other thing I enjoyed very much - they have many IB which started a war who will give highest rebates. I started with forextradingchoice.com and now my profit rate is much higher.

Robert, Dailyforex 04/07/2010

(1) (0)

Brochure on Risks in foreign exchange trading on the SWFX Swiss forex marketplace

15. conflicts of interests

The user understands that the business model of the SWFX Swiss Forex Marketplace consists in ensuring best execution for the transactions of the Users and matching the transactions between any of its Users or Counterparties, each trade being instantly hedged with a countertrade. In that respect, on the SWFX Swiss Forex Marketplace, Dukascopy is counterparty of each trade and counter trade, In some circumstances, Dukascopy may not hedge entirely or may not hedge at all certain trades, In such cases, Dukascopy may have opposite positions towards Users.

Risk disclosure and acknowledgment

2. Dukascopy reserves a discretionary right to check any order before execution.

ECN? 04/07/2010

(1) (1)

I must say that I have traded with quite a number of platforms and Dukascopy is but only one of the countless. My experience with other platforms has been used as a yardstick for most of my observations with Dukascopy but am I glad I found them.

I will begin with the negatives. I have experienced some problems pertaining to execution whereby it was slipping by as much as a pip every single trade where the 'single click' manual execution is concerned.

I am positive I am not the only one judging by similar experiences of other traders. I think Dukascopy at least realize and admits that it is a problem. However, traders are told to write to them every single time with the unique transaction ID.

What I do not understand and can't accept is if it is a persisting problem that affects many, why not try and resolve it for good? Do you mean we have to contact your support every single trade since that is what I experience? It is quite a hassle I would like to think.

I feel that they have had very poor liquidity and I was getting slipped regularly. I don't think the slips have favored me much so far but I have been lucky on quite a few. This is especially the case during news time when things go haywire. But then again, I am yet to find a broker that does "deliver" during new time.

Another unfortunate incident that I experienced with Dukascopy was when one of my trades closed down on its own without any prior warning or a reason. What's worse, the issue was never solved. I am still in the dark as to why and how something like that can happen. Have any of you experienced the same thing or is it just me?

Ok, I know it sounds like I am just complaining but overall Dukascopy gets a thumbs up from me. I had no problem with their customer service and have been trading with them for over a year and a half now. I am really glad I discovered them and in my opinion they are the most honest and reliable Forex brokers online. I do not say this lightly as I know the heartache and desperation that one goes through when you are not dealing with an honest broker. These guys are really up to their game (what else can you expect from the Swiss?)

Withdrawals are easy and I usually have my money quite quickly. I can honestly say I am glad I made the move to them as I have had much worse experiences with other brokers. Even though you may find some negative feedback on other websites, I suspect it is only because of individual gripes and client unhappiness that happens in every business.
Other than a few delays and hiccups that I have experienced with them I really can not complain about them. I always suggest you start with a small amount and test them out and see for yourself.

I hope this review helps, as I can recommend Duksacopy for anyone wanting a reliable and above average Forex broker.

myforextrading.com 04/07/2010

(0) (3)

On the whole, Dukascopy is one of the most reliable brokers around in terms of execution speed, slippage, and spreads. It is worth remembering that a broker with some of these on the good side is probably a good broker to be dealing with.

Perhaps Dukascopy is the right broker for you if you intend to invest a large capital in forex trading. The vital point to remember is, if you have a good ECN broker, and if they in turn have many liquidity providers, then you could be rest assured of getting the smallest spreads and the best fills on your orders. That’s what forex trading is all about.

compare-forex.com 04/07/2010

(0) (2)

Brochure on Risks in foreign exchange trading on the SWFX Swiss forex marketplace

15. conflicts of interests

The user understands that the business model of the SWFX Swiss Forex Marketplace consists in ensuring best execution for the transactions of the Users and matching the transactions between any of its Users or Counterparties, each trade being instantly hedged with a countertrade. In that respect, on the SWFX Swiss Forex Marketplace, Dukascopy is counterparty of each trade and counter trade, In some circumstances, Dukascopy may not hedge entirely or may not hedge at all certain trades, In such cases, Dukascopy may have opposite positions towards Users.

Risk disclosure and acknowledgment

2. Dukascopy reserves a discretionary right to check any order before execution.

Jeff, FPA 02/09/2010

(0) (0)

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.

Stefan, FPA 10/18/2009

(0) (1)

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.

Bonusland, FPA 09/05/2009

(0) (1)

This is an 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.

Milen 07/27/2009

(0) (3)

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

Kiado, forexfactory.com 07/27/2009

(0) (3)

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.

Trader 07/27/2009

(0) (2)

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.

A.Grant, FPA 07/27/2009

(0) (1)

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.

MiniShred 07/27/2009

(0) (1)

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.

Jass 07/27/2009

(0) (1)

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.

Censor 07/27/2009

(4) (0)

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.

Jonhnatan 07/27/2009

(0) (0)

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.

Vorve 07/27/2009

(0) (0)

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.

lame 07/27/2009

(0) (0)

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.

Mouham 07/27/2009

(0) (1)