Proof Dukascopy is also a Market-Maker! Raises question about FXOpen's ECN!

[romad7]

vstar,

Did you get a call about some news coming out next week about Dukascopy’s banking license? Sounds interesting, hopefully it happens. That would really make me consider switching.

[Ichigo]

Really, who cares? There is ALWAYS going to be someone on the other side selling or buying the currency you’re trading.

You need to be watching a broker for slowing your executions, blocking or freezing your platform and manipulating price to take out your stops.

I have been through seven (7) brokerages thus far and do currently trade live via Dukas. I have for over three years now and never experienced any of the above.

Some say… But they charge a commission. Once again, who cares! I trade daily and it’s just a part of doing business (a business expense) but I also receive a nice 45% refund every month on said trading commission.

Additionally, the .5 pip step is because not all their liquidity providers are able to provide them a decimal price.

Trade to trade well,
V

OMG you’re my hero. Seriously… true. Don’t sweat too much the small things. As long as you’re not ripped of and profitable, then it’s good enough.

[vstar]

vstar,

Did you get a call about some news coming out next week about Dukascopy’s banking license? Sounds interesting, hopefully it happens. That would really make me consider switching.

Hello Romad7,

I talk with them weekly and they will not elaborate with great detail so when it happens it happens. No worries.

Trade to trade well my friend!
V

[romad7]

Thanks, I have another question actually. Have you heard anything about an iPad specific app? That would make a great mobile platform. I asked about it but the person I talked to didn’t seem to know much about the tech side of things.

[vstar]

OMG you’re my hero. Seriously… true. Don’t sweat too much the small things. As long as you’re not ripped of and profitable, then it’s good enough.

Hello Ichigo,

Yep! Don’t sweat the small stuff, could have not said it better.

Sure you want to use a brokerage that isn’t going to screw with you and you should be able to figure that out in a week or so.

Newer traders seem to get too wrapped up in the broker question(s). I guess I might have way back when but that’s just a part of learning curve all the nuances of Forex trading. :rolleyes:

OK… Trade to trade well my friend.
V

[vstar]

Thanks, I have another question actually. Have you heard anything about an iPad specific app? That would make a great mobile platform. I asked about it but the person I talked to didn’t seem to know much about the tech side of things.

Well… If you mean the i-Phone I only know what I’ve read as I don’t actually use it either but you can do one of two things. 1) Talk with Dukas support directly and I’m sure they’ll have the answers. 2). Post your questions and I’ll see what my Dukas IA (MOBForex) has to say or what I can dig up.

Trade to trade well Romad7,
V

[romad7]

They do have a good iPhone app but it doesn’t look very good on the iPad’s larger screen. I asked the rep that I have been talking to but he gave me the same answer and he didn’t seem to know the difference. Don’t go through too much trouble, my biggest concern is the banking license issue. In my eyes that would put them on equal footing with MIG (current broker) on the administrative side. If Dukascopy had a live version of MT4 working then they will be able to meet my needs even more than MIG who is a little slow in the tech area of trading. A full iPad app (vs an iPhone app stretched to fill the iPad screen) would be icing on the cake for me.

[vstar]

They do have a good iPhone app but it doesn’t look very good on the iPad’s larger screen. I asked the rep that I have been talking to but he gave me the same answer and he didn’t seem to know the difference. Don’t go through too much trouble, my biggest concern is the banking license issue. In my eyes that would put them on equal footing with MIG (current broker) on the administrative side. If Dukascopy had a live version of MT4 working then they will be able to meet my needs even more than MIG who is a little slow in the tech area of trading. A full iPad app (vs an iPhone app stretched to fill the iPad screen) would be icing on the cake for me.

OK, gotcha!

V

[vstar]

vstar,

Did you get a call about some news coming out next week about Dukascopy’s banking license? Sounds interesting, hopefully it happens. That would really make me consider switching.

Just received an email from my Dukascopy Introducing Agent that Dukascopy received their banking license. So… Go for it!

Trade to trade well, there’s no excuse!
V

[romad7]

Thanks, that is awesome! I am definitely running out of excuses…