Forex Brokers - dukascopy

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 broker.
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.

Dukascopy's platform
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.