When you regularly use a particular
forex trading platform you tend to run
into some problems which are the result
of your broker causing the forex price
to move in the opposite direction of the
trade you make. For example let us
assume you opened a forex trade and then
set a stop loss and the profit level at
which you would like to exit the trade.
You will find more often than not the
price tends to move in a direction not
anticipated by you. Generally it could
be the result of a natural outcome. But
some brokers simply let the price run in
the direction of the stop loss. The
result is you could loose the trade.
This could happen only if the broker you
deal with is the type that makes money
on the spread. But then most brokers
make money on the spread. Where does
that leave you? Look out for a broker
who doesn’t operate on the width of the
spreads. Admittedly there are very few
brokers that operate that way. But the
fact remains that they exist. Dukascopy
is one such broker.
The brokers that operate differently
like Dukascopy are the ones that make
their money from a commission that is
charged per trade. Ideally this is the
type of broker you should deal with (but
these type of brokers are few), and not
one that makes money on the spread,
because what if the spreads widen too
much? These are ECN (Electronic
Communication Network) type of brokers,
and Dukascopy for example is an ECN
broker in the form of a limited company
based in Geneva, Switzerland with share
capital of CHF 22 million.
Although Dukascopy launched its forex
trading platform in 1999 it was only in
2004 that it became a full-fledged Swiss
Brokerage House through the creation of
Dukascopy (Suisse) SA which is located
in Switzerland and is in conformity to
Swiss laws. For example Dukascopy is
regulated by ARIF, which is a self
regulatory body recognized by the
Federal Finance Administration in
Switzerland and exercises controls in
the area of money laundering.
Surprisingly Dukascopy is headed by a
physicist Dr. Andre Duka, and the entire
operational structure of the company is
well-laid out on their website. The
Dukascopy site is accessible in eight
different languages namely English,
Spanish, Russian, Japanese, German,
French, Arabic, and Chinese,
In 2006 Dukascopy (Suisse) SA launched
the SWFX Swiss FX Marketplace through
which it offers direct access to the
Swiss Foreign Exchange Marketplace. You
got to remember that this marketplace is
the largest pool of interbank spot forex
liquidity available for professional
traders and institutions worldwide.
Dukascopy is known as one of the best
Forex trading platforms in the world.
Dukascopy offers direct access to the
Swiss Forex market, this connection
passes Dukascopy one of the best
liquidity positions of all brokers on
the worldwide Forex market. Dukascopy is
under heavy control by the ARIF and FFA.
Therefore Dukascopy controls for money
laundering more than any other Forex
All traders need to sent identity
documentation for legitimate purposes.
The supervision by the ARIF and FFA as
well as the control on all trader's
accounts give Dukascopy the most
reliable name in the market.
Trading can be done in two ways, with
Dukascopy's well advanced online Forex
trading platform or by phone. Traders
can create as many trader's accounts as
they like. Dukascopy also offers a 24
hour helpdesk, six days a week.
Dukascopy is known for the best spreads
in the whole Forex market, their rates
are better than average and according to
the users the charting is still
improving daily. Dukascopy has a fast
growing group of traders connected to
its Forex platform. Dukascopy is
interested in pole position only.
This Forex platform might be one of the
best in the whole industry, it also has
its shortcomings. Unfortunately, trading
starts at $ 50,000 at Dukascopy. This
makes this program not quite suitable
for newcomers in the Forex market.
Another major flaw of the program:
retail customers won't receive service
from Dukascopy. These two points might
be a shame but Dukascopy still is one of
the best Forex brokers for the more
experienced traders. We advise newcomers
to learn trading Forex at one of the
other brokers listed at this website.
Dukascopy review conclusion
Dukascopy offers a good quality trading
platform but is not suitable for new
Forex traders. Dukascopy is especially
suited for institutional clients or
highly experienced private traders. We
advice people with less experience to
look at one of the other brokers listed
on this website.
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